(A) The purpose of this chapter is to implement a tiered ordinance to establish guidelines and criteria for a housing assistance program(s) to provide a variety of housing options ranging from homeownership to rental for families earning 150% of the median income of the city or less.
(B) The first tier of this ordinance shall establish an affordable housing trust fund to receive funds from voluntary contributions as well as state and federal aid, and may direct the City Manager, by resolution, to commission an outside, independent study to examine the city's affordable housing needs and conditions. The second tier of this ordinance may thereafter incorporate the findings of this study.
(Ord. 1575, passed 3-21-07)