(A) There is hereby created pursuant to I.C. 5-20-5-15.5 the LaPorte County Affordable Housing Fund.
(B) There is hereby created pursuant to I.C. 5-20-5-18 the LaPorte County Housing Fund Advisory Committee which shall consist of the following 11 appointed members:
(1) Six members appointed by the LaPorte County Board of Commissioners, one of which shall represent each of the following interests:
(a) The interest of low-income families.
(b) The interest of owners of subsidized, multi-housing communities.
(c) The interest of real estate brokers and sales persons. This member must be nominated to the County Commissioners by the local realtors association.
(d) The interest of local construction trades. This member must be nominated to the County Commissioners by the local building trades council or association.
(2) Five members appointed by the LaPorte County Council representing the community at large. Members appointed under this section must be nominated to the LaPorte County Council after a general call for nominations from township trustees, community development organizations and other social service agencies.
(3) In addition to the appointed members as above noted, the President of the LaPorte County Board of Commissioners, the Mayor of LaPorte and the Mayor of Michigan City shall serve as ex officio members of the Committee.
(C) Members of the LaPorte County Affordable Housing Fund Advisory Committee serve for a term of four years and are eligible for appointment. If a vacancy exists on the Committee, the appointing authority that appointed the former member whose position has become vacant shall appoint an individual to fill the vacancy. A Committee member may be removed at any time by the appointing authority that appointed the Committee member.
(D) The Affordable Housing Fund Advisory Committee shall:
(1) Develop policies and procedures for the uses of the Affordable Housing Fund; and
(2) Develop and promote long-term sources of capital for the Affordable Housing Fund, including:
(a) Revenue from:
1. Development ordinances;
2. Fees; or
3. Taxes;
(b) Financial market based income;
(c) Revenue derived from private sources; and
(d) Revenue generated from grants, gifts, donations, or income in any other form from a:
1. Government program;
2. Foundation; or
3. Corporation.
(E) In developing policies and procedures, the Advisory Committee shall follow the rules and regulations promulgated by the Indiana Housing Finance Authority pursuant to I.C. 5-20-5-19 and I.C. 4-22-2. However, in developing grant criteria, priorities shall be given to local, not-for-profit charitable organizations with a demonstrated history of effectively utilizing volunteer work to facilitate cost- effective housing.
(F) There shall be an executive committee of the Advisory Committee which shall consist of five Committee members appointed by the Committee by vote, which committee shall be the designated administrative agency under I.C. 5-20-5-15.1(a). The President of the Board of Commissioners of LaPorte County, the Mayor of the City of Michigan City and the Mayor of LaPorte shall be ex officio members of the executive committee.
(Ord. 18, passed 9-16-08)