[HISTORY: Adopted by the Common Council of the City of New Berlin 6-12-2012 by Ord. No. 2491. Amendments noted where applicable.]
There is hereby established a Housing Trust Fund to support developers and government entities in the acquisition, construction, rehabilitation and modification of affordable and accessible housing for low-income and moderate-income households and to finance support services that assist low- and moderate-income households in obtaining and maintaining affordable housing. Of the initial amounts placed in the Housing Trust Fund, at least $50,000, and not less than half of any additional amounts, shall be used for projects or programs designed to promote integration and equal housing opportunity for all persons, regardless of race.
The Housing Trust Fund shall be administered by the City of New Berlin Department of Community Development; however, final decisions regarding distribution of funds shall be made by the New Berlin Housing Trust Fund Board which shall be established as a subcommittee of the City of New Berlin Community Development Authority. It shall be the responsibility of the Board to administer the Housing Trust Fund to develop and implement appropriate rules, procedures, guidelines and regulations for the proper operation of the Housing Trust Fund, to review requests for funding from the Housing Trust Fund and make funding determinations, to establish criteria and procedures for reviewing requests for funding from the Housing Trust Fund and for allocating such funds and to prepare and submit an annual report to the Community Development Authority concerning the administration and activities of the Housing Trust Fund.
A Housing Trust Fund Board is hereby created consisting of the following six members who shall serve staggered two-year terms: one Common Council Member appointed by the Common Council President; one member appointed by the Common Council President; a developer appointed by the Mayor; a representative of an advocacy group in the issue of affordable housing board in Waukesha County as determined by the Mayor; the Director of the Waukesha County Fair Housing Council; a Director of the Waukesha County Housing Authority. Members need not be City residents. The Mayor shall designate the Board chair.
The Housing Trust Fund Board shall:
Evaluate requests for funding from the Housing Trust Fund after the requests have been submitted to and reviewed by the City of New Berlin Department of Community Development.
Identify sources of financing the Housing Trust Fund that may be utilized for consideration by the Common Council.
Adopt rules, guidelines and criteria to assist in carrying out its responsibilities.
It is anticipated that the Housing Trust Fund is to be funded by post-closure tax incremental district revenues and other funding sources that may be identified by the Common Council and the Housing Trust Fund Board.
The Housing Trust Fund shall be initially capitalized in the sum of $75,000.
The Community Development Authority is hereby authorized to administer the Housing Trust Fund and to promote affordable housing through the City of New Berlin.