Title
Subdivisions - Moderately Priced Dwelling Units - Rental Assistance Funding - for the purpose of adding rental assistance to the list of expenditures allowed from the affordable housing trust fund.
Body
CITY COUNCIL OF THE
City of Annapolis
Ordinance 44-22
Introduced by: Alderman Gay
Co-sponsored by:
Referred to
Finance Committee
AN ORDINANCE concerning
SUBDIVISIONS - Moderately Priced Dwelling Units - Rental Assistance Funding
FOR the purpose of adding rental assistance to the list of expenditures allowed from the affordable housing trust fund
BY repealing and reenacting with amendments the following portions of the Code of the City of Annapolis, 2022 Edition
20.30.070
BY adding to the following portions of the Code of the City of Annapolis, 2022 Edition
20.30.070
SECTION I: BE IT ESTABLISHED AND ORDAINED BY THE ANNAPOLIS CITY COUNCIL that the Code of the City of Annapolis shall be amended to read as follows:
Title 20 - SUBDIVISIONS
Chapter 20.30 - MODERATELY PRICED DWELLING UNITS
Section 20.30.070 - Affordable housing trust fund.
A. The affordable housing trust fund shall be used to provide homeownership opportunities to eligible persons or households under Section 20.30.020.
B. The fund shall be administered by the Department of Planning and Zoning in accordance with this chapter and funds shall only be available for use by government agencies who may contract with nonprofit developers.
C. Any affordable housing trust fund monies received shall be placed in a segregated account and shall be used to provide funds to:
1. Purchase land and or buildings for other affordable housing that would be provided to persons that meet the eligibility criteria for purchasing or renting Moderately Priced Dwelling Units (MPDUs);
2. Provide Contribute to settlement expense, down payment, and mortgage write down assistance to eligible persons or households;
3. Construct for sale housing units;
4. Purchase and or rehabilitate rental housing fo...
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