Laserfiche WebLink
<br /> <br />(a) Buy-in funds from Developers. <br /> <br />(b) Private cash donations from individuals and corporations designated for the Affordable <br />Housing Trust Fund. <br /> <br />(c) Payments in lieu of participation in current or future affordable housing programs. <br /> <br /> <br />(d) Grants and loans from a state or federal source <br /> <br />(e) Principal and interest from Affordable Housing Trust Fund loan repayments and all other <br />income from Trust Fund activities. <br /> <br />(D The sale of real and personal property. <br /> <br />(g) Local government appropriations, development fees and other funds as designated from <br />time to time by the city council. <br /> <br />(h) Tax Increment Finance (TIF) pooled funds. <br /> <br />XXX.XX The city may use money from the Affordable Housing Trust Fund to assist proposed <br />projects or programs to develop or preserve affordable housing for persons of very low, low and <br />moderate income to include: <br /> <br />(a) Making loans at interest rates below or at market rates in order to strengthen the financial <br />feasibility of proposed projects. <br /> <br />(a) Guaranteeing of loans. <br /> <br />(b) Enhancement of county, state, and federal affordable housing programs. <br /> <br />(c) Financing the acquisition, demolition, and disposition of property for affordable housing <br />projects. <br /> <br />(d) Funding or financing the rehabilitation, remodeling, or new construction of affordable <br />housing. <br /> <br />(e) Funding to facilitate affordable homeownership opportunities including down payment <br />assistance, second mortgages, closing costs, etc. <br /> <br />(f) Interim financing of public costs for affordable housing projects in anticipation of a <br />permanent financing source (i.e. construction financing, bond sale, etc.) <br />