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

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

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(e) Any federal, State or other grant and/or loan funds received for the benefit of
the AHTF and the programs it supports; and
(f) Any authorized transfer of revenues generated in accordance with an approved
Affordable Housing Tax Increment Financing (AH-TIF) Development Program.

All expenses lawfully incurred in carrying out this Article must be evidenced by
proper vouchers and accounting practices. The City shall prudently invest available
assets of the AHTF and all income from any investment shall accrue to the AHTF.
The City Manager or his/her designee shall keep a full and accurate account of
AHTF activity, including a record as to when, from or to whom and on what account
money has been paid or received relative to this Article, and as to when, from or to
whom and for what consideration real property interests have been acquired, improved
or disposed of. The City Manager or his/her designee shall report annually all
revenues and distributions, including grants, loans, acquisitions and dispositions
of real property interests, and other related expenses, which document shall be
included in the City’s annual report.
Sec. 12-243. City willingness to partner with LIHTC program applicants.

The City affirms its intent to identify and partner with a Low-Income Housing
Tax Credit (LIHTC) Program applicant each application cycle, if a proposed project
exists that meets the following criteria:

(a) The proposed housing or mixed-use development is located in a targeted growth
area, neighborhood activity center, or is in a neighborhood identified by the
City as having limited access to affordable housing relative to other
neighborhoods in the City;