Chapter 3.35 HOUSING FUNDS

Chapter 3.35
HOUSING FUNDS

Sections:

3.35.020 Affordable Housing Fund – Establishment.

3.35.040 Affordable Housing Fund Advisory Committee.

3.35.010 Affordable Housing Fund.

(A) Purpose. The purpose of the Housing Trust Fund is to support the production, preservation, and rehabilitation of housing within the City of Evansville.

(B) The definitions and terms found in IC 5-20-5 shall be applicable herein. Other definitions shall include the following:

“Account” shall mean the Housing Trust Fund Account.

“Committee” shall mean the Housing Trust Fund Committee. [Ord. G-2017-27 § 1, passed 10-26-17. 1983 Code § 3.30.301.]

3.35.020 Affordable Housing Fund – Establishment.

(A) An Affordable Housing Fund is hereby established. The fund shall be administered by the Department of Metropolitan Development subject to the terms of this chapter.

(B) The Affordable Housing Fund consists of:

(1) Payments in lieu of taxes deposited in the fund under IC 36-1-8-14.2;

(2) Gifts and grants to the fund;

(3) Investment income earned on the fund’s assets;

(4) Money deposited in the fund under IC 36-2-7-10;

(5) Other funds from sources approved by the commission.

(1) Providing financial assistance to those individuals and families whose income is at or below 80 percent of the County’s median income for individuals and families, respectively, to enable those individuals and families to purchase or lease residential units within the City;

(2) Paying expenses of administering the fund;

(3) Making grants, loans, and loan guarantees for the development, rehabilitation, or financing of affordable housing for individuals and families whose income is at or below 80 percent of the County’s median income for individuals and families, respectively, including the elderly, persons with disabilities, and homeless individuals and families; and

(4) Providing technical assistance to nonprofit developers of affordable housing. [Ord. G-2017-27 § 2, passed 10-26-17. 1983 Code § 3.30.302.]

3.35.030 Allocation of money.

(A) The Department of Metropolitan Development may, following approval from the Common Council, allocate any remaining money received in program grants to a community development corporation, nonprofit corporation (as defined under Section 501(c) of the Internal Revenue Code), public housing authority (as defined in IC 36-7-18), or a unit of government (as defined in IC 36-1-2-23). Money allocated to a community development corporation or nonprofit corporation (as defined under Section 501(c) of the Internal Revenue Code) must, unless otherwise approved by the Common Council, be allocated in the form of a loan or loan guarantee. Money received in program grants that are not allocated to a nonprofit corporation, a public housing authority, or a unit of government may be allocated to private developers of housing and other private development entities as a loan or loan guarantee as determined by the Department of Metropolitan Development.

(B) This section does not pertain to, or impact, the Federal entitlement funds received by the City of Evansville annually from the Department of Housing and Urban Development.

(C) On a quarterly basis, the Department of Metropolitan Development shall provide City Council with a quarterly report itemizing the expenditures, grants, loans, and loan guarantees of account. [Ord. G-2020-13 § 1, passed 11-24-20; Ord. G-2017-27 § 3, passed 10-26-17; Ord. G-2015-26, passed 9-30-15. 1983 Code § 3.30.303.]

3.35.040 Affordable Housing Fund Advisory Committee.

(A) There is hereby established an Affordable Housing Fund Advisory Committee consisting of the following 11 members:

(1) One member appointed by the Mayor to represent the interests of low income families.

(2) One member appointed by the Mayor to represent the interests of owners of subsidized, multifamily housing communities.

(3) One member appointed by the Mayor to represent the interests of banks and other financial institutions.

(4) One member appointed by the Mayor to represent the interests of the City.

(5) One member appointed by the Mayor to represent real estate brokers or salespersons. The member appointed under this subsection must be nominated to the Mayor by the local realtors’ association.

(6) One member appointed by the Mayor to represent construction trades. The member appointed under this subsection must be nominated to the Mayor by the local building trades council.

(7) Five members appointed by the City Council to represent the community at large. Members appointed under this subsection must be nominated to the City Council after a general call for nominations from township trustees, community development corporations, neighborhood associations, community based organizations, and other social services agencies.

(B) Members of the Affordable Housing Fund Advisory Committee serve for a term of four years, and are eligible for reappointment. If a vacancy exists on the committee, the appointing authority that appointed the former member whose position has become vacant shall appoint an individual to fill the vacancy. A committee member may be removed at any time by the appointing authority that appointed the committee member.

(1) The development of policies and procedures for the uses of the Affordable Housing Fund; and

(2) Long-term sources of capital for the Affordable Housing Fund, including:

(a) Revenue from:

(i) Development ordinances;

(ii) Fees; or

(iii) Taxes;

(b) Financial market based income;

(d) Revenue generated from grants, gifts, donations, or income in any other form from a:

(i) Government program;

(ii) Foundation; or

(iii) Corporation.

(D) Meetings. Beginning on July 7, 2015, at 6:00 p.m. and on the first Tuesday of every other month thereafter, the Affordable Housing Trust Fund Advisory Committee shall meet in person or via pre-approved telephonic conference to discuss and put forth ideas and recommendations as charged by this section. In the event that the Evansville Vanderburgh School Corporation cancels school due to inclement weather or in the event of a citywide declaration of emergency that falls on the day that the Affordable Housing Trust Fund Advisory Committee is scheduled to meet, no meeting shall occur during that month, and the Affordable Housing Trust Fund Advisory Committee shall meet at the next regularly scheduled meeting. In the event that two consecutive meetings are canceled, the Chair of the meeting shall set a date for the Affordable Housing Trust Fund Advisory Committee to meet in the interim, and the Affordable Housing Trust Fund Advisory Committee shall meet on that day and at that time. The next meeting after the aforementioned meeting called by the Chair shall be at the regularly scheduled meeting.

Every meeting shall have a quorum in order to constitute a properly called meeting. A quorum shall consist of a majority of the members of the Affordable Housing Trust Advisory Committee.

By a majority vote, the Affordable Housing Trust Fund Advisory Committee may change the time, location, and date of the meeting. However, under no circumstance shall the Affordable Housing Trust Fund Advisory Committee meet less than six times a calendar year beginning in the year 2016. Additionally, the Affordable Housing Trust Advisory Committee shall not meet more than once a month. If it is necessary for the Affordable Housing Trust Advisory Committee to meet more than once a month, the additional meetings shall not count towards the required six meetings required under this section.

(E) Reports. One month before the end of each fiscal year for the City of Evansville, the Affordable Housing Trust Fund Advisory Committee shall produce a report to be delivered to the Mayor of the City of Evansville and each member of the Evansville City Council which sets forth the proposals of the Affordable Housing Trust Fund Advisory Committee regarding the development of policies and procedures for the uses of the Affordable Housing Fund and long-term sources of capital for the Affordable Housing Fund. [Ord. G-2015-26, passed 9-30-15; Ord. G-2007-13, passed 10-23-07; Ord. G-2002-9, passed 5-20-02. 1983 Code § 3.30.304.]

3.35.050 Housing Trust Fund.

Repealed by Ord. G-2017-27. [Ord. G-2002-9, passed 5-20-02. 1983 Code § 3.30.330.]