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(A) There is hereby established the Affordable Housing Trust Fund, to be held as a separate fund, for the purpose of advancing Affordable Housing opportunities. The fund shall be governed by an Affordable Housing Trust Fund Board as set out in § 40.45 of this subchapter.
(B) The funding objective is to lay the foundation for an Affordable Housing Trust Fund (“the Fund”) that annually invests $10 million dollars into affordable housing projects. A multi-year approach will be necessary to achieve full and adequate funding for the Affordable Housing Trust Fund. The Fund shall be established as a separate, nonprofit, exempt organization under the provisions of KRS Chapter 273 and Title 26, Section 501(c)(3) of the United States Code.
(Lou. Metro Ord. No. 82-2008, approved 5-28-2008; Lou. Metro Am. Ord. No. 149-2009, approved 9-29-2009)