title
To amend City Code ?? 16-51, concerning the creation of the
Affordable Housing Trust Fund, 16-52, concerning definitions for the
Affordable Housing Trust Fund, 16-53, concerning the purpose of the
Affordable Housing Trust Fund, 16-80, concerning the creation of the
Affordable Housing Trust Fund Oversight Board, 16-81, concerning the composition, appointment, and terms of office for the
Affordable Housing Trust Fund Oversight Board, 16-82, concerning the prohibition on award of grants or loans where
Affordable Housing Trust Fund Oversight Board members are involved, 16-83, concerning the duties of the
Affordable Housing Trust Fund Oversight Board, 16-84, concerning the conduct of affairs for the
Affordable Housing Trust Fund Oversight Board, 16-112, concerning program administration for the
Affordable Housing Trust Fund, 16-113, concerning the general administration of the
Affordable Housing Trust Fund, and 16-114, concerning regulations for the administration of the
Affordable Housing Trust Fund, for the purpose of modifying the operations and administration of the
Affordable Housing Trust Fund.
body
THE CITY OF RICHMOND HEREBY ORDAINS:
? 1. That sections 16-51, 16-52, 16-53, 16-80, 16-81, 16-82, 16-83, 16-84, 16-112, 16-113, and 16-114, of the Code of the City of Richmond (2020) be and hereby are amended as follows:
Sec. 16-51. Created.
There shall be created a
fund identified as the
Affordable Housing Trust Fund. The
fund shall be
funded through annual appropriations made by the City Council and such other sources of revenue as the Council may appropriate thereto from time to time. The purpose of the
fund shall be to aid in meeting the needs of low and moderate income households in the [City] city by providing loans and grants to for-profit and nonprofit
housing developers and organizations for the acquisition, capital and other related costs necessary for the creation and preservation of
affordable rental and owner-occupied
housing in th...
Click here for full text