Affordable Housing Trust Fund

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Established in 1986, the Housing Trust Fund was created to off-set development impacts and generate additional resources to meet the increasing need for affordable housing. The City Council adopted a policy of requiring residential and commercial developers to either provide affordable housing or pay a fee in in-lieu of providing said housing. Residential in-lieu fees, commercial development fees, and settlement funds are paid to the City's Housing Trust Fund to be used exclusively for projects with at least twenty percent (20%) of the total number of units affordable to low income households and a minimum of sixty percent (60%) of the total number of units affordable to low and moderate income households. The funds are used by non-profit developers to build said housing.