(A) Purpose of eligible activity. Each eligible applicant shall be required to demonstrate that the requested eligible activity will advance and support the purpose of the Housing Trust Fund, as set forth in this section.
(B) Eligible applicants. Developers, not-for-profit organizations, housing owners/operators, and units of government shall be eligible applicants for Housing Trust Fund resources. The Housing Trust Fund Board shall seek proposals from eligible applicants and make awards for eligible activities based on the priorities set forth in division (D) below and on the eligibility guidelines, program requirements and process established in connection with the Housing Trust Fund. The Housing Trust Fund Board shall develop and issue eligibility guidelines, program requirements, and application forms for Housing Trust Fund grants and loans, subject to the approval of the City Council. Eligible applicants may apply to the Housing Trust Fund Board for Housing Trust Fund awards for eligible activities.
(C) Types of eligible activities. The following housing-related activities are the types of activities that may receive Housing Trust Fund resources:
(1) Housing production, including, without limitation, new construction, rehabilitation and adaptive re-use, as well as technical studies, plans and designs relating thereto;
(2) Acquisition and disposition, including, without limitation, vacant land, single-family homes, multi-unit buildings and other existing structures that may be used in whole or part for residential use;
(3) Capacity grants for not-for-profit organizations that are actively engaged in addressing the housing needs of low and moderate-income households; and
(4) Any other activity that the City Council, following consideration and recommendation by the Housing Trust Fund Board, determines would address the city’s affordable housing needs, including, without limitation:
(a) Rental assistance;
(b) Home ownership assistance;
(c) Preservation of existing housing;
(d) Weatherization; and
(e) Emergency repairs.
(D) Priorities for trust fund awards. Among proposals for eligible activities that otherwise meet established program requirements and eligibility criteria, priority shall be given:
(1) To applications that provide for leveraging of funds for projects;
(2) To applications that provide the longest term of affordability of affordable housing; and
(3) To applications that provide housing to serve the needs of households who live in the city and the head of the household or the spouse or domestic partner is 65 years of age or older.
(Ord. 2011-01, passed 1-3-2011)