3.50.040 – Eligibility Requirements

  1. Purpose of Eligible Activity.  Each Applicant shall be required to demonstrate that the requested Eligible Activity will advance and support the purpose of the Housing Trust Fund, as set forth in this Chapter.
  2. Eligible Activities.  The use of Housing Trust Fund resources shall be limited to the following, which shall be considered Eligible Activities:
    1.  Production of Affordable Housing including, without limitation, new construction, rehabilitation, and adaptive re-use.
    2. Acquisition and disposition, including, without limitation, vacant land, single-family homes, multi-unit buildings, and other existing structures that may be used in whole or part to provide Affordable Housing.
    3. Grants or loans to not-for-profit organizations that are actively engaged in addressing the housing needs of Eligible Households.
    4. Retention of a third-party organization to administer and track Housing Trust Fund programs and payment of a management fee as agreed upon between the City and the third-party organization.
    5. Payments to a third-party organization to reimburse costs incurred in connection with a Housing Trust Fund program.  Such costs shall include construction/rehabilitation costs, administrative costs such as property title searches and recording fees, and similar costs that are incurred in connection with an eligible project.  No costs shall be reimbursed except pursuant to a written agreement between the City and the third-party organization.
    6. Financial assistance to Eligible Households in renting dwelling units.  Financial assistance to Eligible Households in purchasing dwelling units.
    7. Financial or in-kind assistance to preserve and/or maintain existing Affordable Housing.
    8. Weatherization of dwelling units occupied by Eligible Households.
    9. Emergency repairs to dwelling units occupied by Eligible Households.
      (Ord. 2010-M-16 § 1.)
  3. Criteria for Award of Housing Trust Fund Resources.  Among applications for funding for Eligible Activities that otherwise meet established program requirements and eligibility criteria, priority shall be given (a) to applications that provide for leveraging of funds for projects, i.e., that yield a larger amount of housing provided or a larger dollar value for the level of funding being sought (b) to applications that provide the longest term of permanent affordability, and (c) to applications that provide housing to serve the needs of households with the lowest incomes.  All Housing Trust Fund resources shall be applied exclusively to Eligible Activities within the City of St. Charles.

    The City may approve additional criteria and priorities in connection with a specific program, as set forth in the document establishing that program.

(2010-M-16: § 1)