(A) Creation. There is hereby created a Housing Trust Fund Board. The Board shall advise the City Council in the management and administration of the Housing Trust Fund. The Board shall be subject to the provisions of the Illinois Open Meetings Act, being 5 ILCS 120.
(B) Purpose. The Board shall make recommendations to the City Council regarding the programs and operations of the Housing Trust Fund, including, without limitation:
(1) The goals for the Housing Trust Fund;
(2) The Housing Trust Fund’s operating budget and projected expenditures and revenue;
(3) The Housing Trust Fund’s funding and award policies and priorities;
(4) The development of the Housing Trust Fund’s programs;
(5) The Housing Trust Fund’s program requirements;
(6) The Housing Trust Fund’s procedures for disbursing Fund resources;
(7) The review of applications for Housing Trust Fund awards;
(8) The granting of awards;
(9) The monitoring of eligible activities funded by the Housing Trust Fund; and
(10) The evaluation of Housing Trust Fund activities.
(C) Members. The Housing Trust Fund Board shall consist of three members, each of whom shall have demonstrated interest, knowledge, ability, experience or expertise in one or more of the following areas: housing related issues, the needs and interests of senior citizens, financing mechanisms for affordable and moderately priced housing units, employer assisted housing, legal aspects of establishing and maintaining units as affordable, development review and approval processes and the character of the city. Consideration shall be given to the appointment of individuals serving on (or who have served on) the City Council and related city boards and commissions including, but not limited to, the Senior Resources Commission and the Plan Commission. In addition, Board members shall be residents of the city or affiliated with major employers located in the city. Each Board member shall have one vote.
(D) Appointment, terms, vacancies and ethical responsibilities.
(1) Board members shall be appointed by the Mayor with the advice and consent of Council for terms of two years; provided that the Mayor may initially appoint up to four members with initial terms of one year so that appointments shall be staggered to ensure that the terms of not more than four Board members shall expire in any calendar year. Every Board member shall continue in office after expiration of the term until a successor shall have been duly appointed. Terms shall commence on May 1, except when a vacancy is created by the resignation or disqualification of a Board member prior to expiration of that Board member’s term, in which case such term shall commence on the date of the appointment.
(2) Board members shall be eligible for re-appointment, provided that no member shall serve more than three consecutive full two-year terms.
(3) Vacancies on the Board shall be filled by the Mayor with the advice and consent of Council for the unexpired term of the former Board member.
(4) Any Board member may be removed from office at any time by the Mayor for failure to regularly attend meetings or inattention to duties or responsibilities.
(5) Board members shall be subject to the provisions of all rules, regulations, ordinances and statutes governing conduct of members of the boards and commissions of the city, including but not limited to Chapter 40, Governmental Ethics, of the city code, state statutes regarding gifts to public officials, filing of statements of economic interest, and the like. In addition, during and for two years after a Board member’s term on the Housing Trust Fund Board, a Board member shall not have any financial interest (as defined in § 40.02 of the city code) in any affordable housing development in the city that has received or requested (or may receive or request) moneys from the Housing Trust Fund.
(E) Compensation. Board members shall serve without compensation.
(Ord. 2011-01, passed 1-3-2011; Ord. 2017-33, passed 6-5-2017)