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

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

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(b) Award of grants through a competitive Request for Proposals (RFP) process
developed by the Affordable Housing Committee in conjunction with, and the
approval of, the City Council, based on the most recent housing needs
assessment in the Manual.

(c) Purchase and acquire fee simple interests and any lesser interests, including
deed restrictions, development rights or easements, in any real property
situated within the territorial limits of the City, including any improvements
on that real property, provided that all purchases or acquisitions are
consistent with the purposes of this Article and will ultimately be conveyed,
transferred, or sold to an affordable housing agency or developer.
Any proposed acquisition or sale of any real property interest(s) and any
proposed use of land pursuant to this Article shall be referred to the
Affordable Housing Committee for its review and recommendation(s).
Sec. 12-242. Management of Affordable Housing Trust Fund.

The Affordable Housing Committee shall serve as an advisory body for the
management of the AHTF and its programs. Deposits into the AHTF shall include:
(a) Any funds appropriated to be deposited into the AHTF by vote of the City
Council;
(b) Voluntary contributions of money or other liquid assets and all the net proceeds
from disposal of real property donated to the City specifically for the benefit
of the AHTF and accepted by vote of the City Council;
(c) Interest from deposits and investments of the AHTF;
(d) Thirty percent (30%) of the net proceeds from the sale of improved real property
owned by the City but not donated specifically for the benefit of the AHTF,
unless this net sale proceeds requirement is waived by the City Council for good
cause shown;