Chapter 4.68
HOUSING TRUST FUND

Sections:

4.68.010    Creation and title.

4.68.020    Purpose for which fund is created.

4.68.030    Source of resources.

4.68.040    Operation of the fund.

4.68.050    Fund manager.

4.68.060    Establishment of a housing trust fund program advisory board.

4.68.010 Creation and title.

There is hereby created a cumulative reserve fund to be known as the housing trust fund.

(Added Ord. 89-125, November 8, 1989).

4.68.020 Purpose for which fund is created.

The purpose of the housing trust fund is to:

(1) Provide matching funds, loans, or outright grants to county departments, municipalities, housing authorities, agencies or organizations for the construction, purchase, rehabilitation, or support of low-rent public housing, low-income housing, emergency housing, transitional housing, or housing for the elderly or handicapped for the benefit of the citizens of Snohomish county; and

(2) To establish a fund into which county funds, donations, grants, or other resources designated for the above-mentioned purpose can be deposited and from which allocation can be made.

(Added Ord. 89-125, November 8, 1989).

4.68.030 Source of resources.

Potential resources for the housing trust fund shall include, but not be limited to county current expense funds, grants, donations, gifts, bequests, collections from programs that may be established for this purpose, or other resources deemed appropriate by the county council.

(Added Ord. 89-125, November 8, 1989).

4.68.040 Operation of the fund.

The operation of the housing trust fund shall be as follows:

(1) Allocations of housing trust fund resources shall be made by county council for projects completing an application process to be coordinated by the department of human services;

(2) The council may accept gifts or bequests for the housing trust fund and may make contributions to the fund from time to time in such amounts as it deems necessary to further the purposes of the fund; and

(3) Any monies in said fund at the end of the fiscal year shall not lapse nor shall the same be made available as a surplus or used for any other purpose or purposes than those specified, except as provided by state law.

(Added Ord. 89-125, November 8, 1989; Amended Ord. 05-107, November 21, 2005, Eff date July 1, 2006).

4.68.050 Fund manager.

The county executive shall designate a fund manager whose name and title shall appear on the master list of fund managers maintained in the department of finance.

(Added Ord. 89-125, November 8, 1989; Amended Ord. 05-107, November 21, 2005, Eff date July 1, 2006).

4.68.060 Establishment of a housing trust fund program advisory board.

A housing trust fund program advisory board is hereby established to assist in the implementation of this chapter. The board shall make recommendations to the county council for its review and approval regarding projects to be funded with the assistance of housing trust fund resources.

The housing trust fund program advisory board shall be composed of the following 17 members:

(1) The Snohomish county executive (or his designee);

(2) A member of the Snohomish county council;

(3) A representative of the housing authority of Snohomish county;

(4) A representative of the Everett housing authority;

(5) An elected official of the city of Everett;

(6) An elected official representing the other cities in the county;

(7) Two representatives of non-profit housing development agencies;

(8) A representative of the north/south association of churches;

(9) A representative of the senior citizen community of Snohomish county;

(10) A representative of the low-income community of Snohomish county;

(11) A representative of the disabled community of Snohomish county;

(12) A representative of the mental health community of Snohomish county;

(13) A representative of a neighborhood or community group;

(14) A representative of the financial/development community;

(15) A representative of the law enforcement community; and

(16) A representative of the Snohomish county apartment owners association.

Except for the county executive and the county council member, board members shall be selected and appointed pursuant to the provisions of chapter 2.03 SCC and shall serve one-year terms.

The housing trust fund program advisory board shall report to the county council, for its review and approval, recommendations regarding: criteria for project eligibility; project funding priorities; long-term strategies for obtaining resources for the housing trust fund; and proposals for project funding.

(Added Ord. 90-011, March 14, 1990).