South Portland, ME Code of Ordinances ch. 12 (Housing)

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South Portland, ME Code of Ordinances ch. 12 (Housing)
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Official source
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https://southportland.gov/DocumentCenter/View/1428/CH-12-Housing ↗

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The purpose of this Article is to address the production, preservation, and
rehabilitation of affordable housing for rental and home ownership in the City
through various policies and financial incentives. The City recognizes that access
to safe, quality, and affordable housing is a fundamental human right contributing
to the overall health, safety, and well-being of its residents. The City desires to
have a mix of housing that meets the needs of all its residents, achieved through
incremental growth and development that conforms to the community’s vision and long-
term development goals. The City recognizes that when the local housing market is
out of equilibrium, it disproportionately affects individuals making less than the
area median income. The City also recognizes that local government plays an
important role in both planning for and investing in the City’s future, to include
housing.
Sec. 12-241. Establishment of Affordable Housing Trust Fund.

The City hereby establishes the Affordable Housing Trust Fund (“AHTF”).
Guidelines for use of the AHTF shall be outlined in an Affordable Housing Trust Fund
Operations Manual (“Manual”) to be approved by City Council Order, as may be amended
from time to time. No funds may be appropriated from the AHTF until the Manual has
been approved by the City Council. The City Council, after receipt of a
recommendation from the Affordable Housing Committee, may expend funds from the AHTF
for the following:
(a) Issuance of loans to support the production, preservation, and rehabilitation of
safe, quality, and affordable housing, to include:

(1) Gap financing;
(2) Construction costs;
(3) Pre-development costs;
(4) Acquisition costs; or
(5) Rehabilitation of existing housing;