§ 1600-700. AFFORDABLE HOUSING TRUST FUND

(a)

Establishment of Fund. An Affordable Housing Trust fund is hereby established for the purpose of funding the development and preservation of affordable housing. All residential in-lieu fee payments shall be made to the Affordable Housing Trust Fund established by this Chapter. Fees deposited with the Affordable Housing Trust Fund may be used for the following purposes: below market rate loans to non-profit housing corporations; land acquisition; construction of affordable units; installation of needed off-site improvements; housing rehabilitation; transitional housing; farmworker housing; special needs housing or housing for the homeless, as well as the administration of the affordable housing programs, and such other uses that the Board of Supervisors determines are consistent with the purposes of this Chapter.

(b)

Implementing Guidelines. The County shall promulgate guidelines for the administration and utilization of the fees deposited in the Affordable Housing Trust Fund.

(c)

Annual Review of Fund. Prior to the 15th of every August, the Housing Authority shall submit a report to the Board of Supervisors on the collection and disbursement of fees deposited in the Affordable Housing Trust Fund throughout the previous fiscal year.