051 of 2003 - Relating to meetings of the Housing Trust Fund Advisory Board & powers & duties of the Housing Trust 0 03-1
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SALT LAKE CITY ORDINANCE
No. 51 of 2003
(Housing Trust Fund Advisory Board Amendments)
AN ORDINANCE AMENDING SECTION 2.80.080, SALT LAKE CITY CODE,
RELATING TO MEETINGS OF THE HOUSING TRUST FUND ADVISORY BOARD; AND
AMENDING SECTION 2.80.120, SALT LAKE CITY CODE, RELATING TO POWERS AND
DUTIES OF THE HOUSING TRUST FUND ADVISORY BOARD
Be it ordained by the City Council of Salt Lake City, Utah:
SECTION 1. That Section 2.80.080, Salt Lake City Code, pertaining to meetings of the
Housing Trust Fund Advisory Board be, and the same hereby is, amended to read as follows:
2.80.080 Meetings:
A. The board shall convene for regular quarterly meetings to be held at least four(4)
times each year. Additional meetings may be held as needed in order to conduct the business of
the Housing Trust Fund. To the extent that meetings of the board are governed by title 52,
chapter 4, Utah Code Annotated, 1953, as amended, or its successor, said meetings shall be
conducted in compliance with said state law. Meetings shall be held at the city and county
building, or at such other public place as may be designated by the board. Six (6)members of the
board shall constitute a quorum for the purpose of holding meetings. The board may act
officially by an affirmative vote of a majority of members present.
B. Special meetings may be called by a majority of the board, the chairperson, or the
mayor. The call for a special meeting must be signed by the member calling such meeting and,
unless waived in writing, each member not joining in the order for such special meeting must be
given not less than three (3) hours'notice. Said notice shall be served personally or left at the
member's residence or business office. Meetings shall be held at such public place as may be
designated by the board.
C. The board shall cause a written record of its proceedings to be kept which shall be
available for public inspection in the office of the director. The board shall record the yea and
nay votes of any action taken by it. The director shall make available a secretary to the board
when required.
D. The board shall adopt a system of rules of procedure under which its meetings are
to be held. The board may suspend the rules and procedures by unanimous vote of the members
of the board who are present at the meeting. The board shall not suspend the rules of procedure
beyond the duration of the meeting at which suspension of the rules occurs.
SECTION 2. That Section 2.80.120, Salt Lake City Code, pertaining to powers and duties
of the Housing Trust Fund Advisory Board be, and the same hereby is, amended to read as
follows:
2.80.120 Powers and Duties:
The board shall have the following powers and duties:
A. Determine and establish such rules and regulations for the conduct of the board as
the members shall deem advisable; provided, however, that such rules and regulations shall not
be in conflict with this chapter or its successor, or other city, state or federal law.
B. Recommend the adoption and alteration of all rules, regulations and ordinances
which it shall, from time to time, deem in the public interest and for the purposes of carrying out
the objects of this chapter; provided, however, that such rules and regulations shall not be in
conflict with this chapter or its successor, or other city, state or federal law.
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C. Consult with experts in areas such as finance, real estate, and affordable housing
development to obtain advice on specific projects.
D. Advise and make recommendations to the city administration and the city council
on affordable housing and special needs housing issues which may include, but not be limited to:
1. The means to implement the policies and goals of this chapter and the city's
community housing plan and policies;
2. Criteria by which loans and grants should be made, using the city's
consolidated plan as a guide to determine housing gaps;
3. The order in which projects and programs should be funded;
4. The distribution of any monies or assets contained in the fund according to the
procedures, conditions, and restrictions placed upon the use of those monies or assets by any
government entity;
5. The distribution of all other monies from the fund according to the following
guidelines:
a. Sufficient fund monies shall be distributed as loans to assure a
reasonable stream of income to the fund from loan repayments. These may range from short-
tent'construction loans to long-term acquisition loans;
b. Loans shall be recommended in accordance with the borrower's ability
to pay,but no more than fifty percent (50%) of the per unit costs shall be recommended;
c. Fund monies and assets not distributed as loans shall be distributed as
grants;
d. All fund monies and assets shall be distributed to benefit households
earning one hundred percent (100%) or less of the area median income;
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e. Not less than one-half(1/2) of all fund monies and assets shall be
distributed to benefit households earning fifty percent(50%) or less of the area median income;
f. The board may recommend that the mayor, with the consent of the
council, grant or lend fund monies or assets to housing sponsors. Housing sponsors must assure
the temii. of affordability as follows:
1) Rental Housing: The term of affordability for rental housing
units will be 55 years.
2) Home Ownership Housing: The term of affordability for home
ownership housing units will be as follows:
a) Short term financing (less than five years) will require
that the first home owner to purchase the housing unit will meet the income requirement of 80%
or less of area median income as established by the U.S. Department of Housing and Urban
Development.
b) Long term financing (five or more years) for new
construction, rehabilitation or acquisition will be as follows:
Under$15,000 5 years
$15,000 to $40,000 10 years
Over$40,000 15 years
g. Fund monies and assets may be recommended by the board to be used
to obtain matching funds from government entities or other sources, consistent with the intent of
this chapter.
E. The board may recommend fund monies or assets be provided to any of the
following activities:
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1. Acquisition, leasing, rehabilitation, or new construction of housing units for
ownership or rental, including transitional housing;
2. Emergency home repairs;
3. Retrofitting to provide access for persons with disabilities;
4. Down payment and closing cost assistance;
5. Construction and gap financing;
6. Land acquisition for purposes consistent with the purposes of this chapter;
7. Technical assistance;
8. Other activities and expenses incurred that directly assist in providing the
housing for eligible households in the city, consistent with the intent of this chapter.
F. Fund monies shall not be used for administrative expenses.
G. The board shall develop an application process to be recommended to the mayor
and council for approval. Said process may be reviewed from time to time by the council.
H. The board and HAND shall review and monitor the activities of recipients of
grants and loans issued under this chapter on an annual basis, or more often as may be deemed
necessary, to ensure compliance with the terms and conditions imposed on the recipient by the
mayor and the council under this chapter and under any and all instruments and documents
entered into between the city and the recipient pursuant to this chapter.
1. Entities receiving grants or loans shall provide to the board and HAND an
annual accounting of how the monies or assets received from the fund have been used.
2. An annual report shall be prepared by the board and HAND which shall contain
information concerning the implementation of this chapter. The report shall include,but is not
limited to, information regarding the location and numbers of units developed or preserved, the
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numbers and incomes of households served, and detailing the income to and assets in the fund,
and the expenditures and uses of fund monies and assets.
3. The annual report shall include the board's and HAND's assessment of housing
needs in the city,barriers to affordable and special needs housing development and reservation,
and barriers to the implementation of this chapter.
4. The annual report shall be submitted to the mayor and the council for review by
March 31 of each calendar year.
5. Appropriations by the council to the fund shall be considered as part of the
budget process.
I. Serve as a coordination body and resource for organizations interested in
affordable and special needs housing issues affecting the city including, but not limited to, the
housing authority of Salt Lake City, the Salt Lake City redevelopment agency, the housing and
neighborhood development division, and other city departments as appropriate, as well as
nonprofit and for-profit housing developers.
SECTION 3. This ordinance shall take effect immediately upon the date of its first
publication.
Passed by the City Council of Salt Lake City, Utah this 8th day of
July , 2003.
CHAIRPERSO
ATTEST:
C4iLf
CHIEFePUT C RE ORDER
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Transmitted to Mayor on July 9, 2003 .
Mayor's Action: X Approved. Vetoed.
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MA OR
ATTEST:
CHIEF_I�EPL.JTY CITY CORDER
. .
ei +)4 APPROVED AS TO FORM
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4 Salt Lake City Attorneys Office
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... ,� Date Lr^0
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Bil`Nta•` 52'' of 2003.
' Published: July 21, 2003
G:\Ordinance 03\Housing Trust Fund Advisory Board amendments 07-02-03 clean
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