§ 40.42 HOUSEHOLDS SERVED BY THE AFFORDABLE HOUSING TRUST FUND.
   All funds shall be used for eligible activities benefiting households according to the following allocations. For the purposes of the Affordable Housing Trust Fund the term “household” includes one-person households as well as households of a larger number.
   (A)   Any funds from a public source, such as general revenue, whether state or local, taxes, fees or other public sources shall be allocated so that:
      (1)   Fifty percent of any public dollars allocated to the Trust shall be dedicated to serving households at or below 50% Area Median Income (AMI); and
      (2)   The remaining 50% shall serve households at or below 80% AMI (this includes households below 50% AMI).
   (B)   The Trust shall be authorized to accept private gifts, grants, donations, and other contributions and may use these funds to serve households at or below 110% AMI (this includes households below 80% AMI or 50% AMI).
(Lou. Metro Ord. No. 82-2008, approved 5-28-2008)