[HISTORY: Adopted by the Town Council of
the Town of Mansfield 11-8-2021, effective 12-11-2021. Amendments noted where applicable.]
Pursuant to C.G.S. § 7-148(c)(2)(K), the Town of Mansfield
does hereby create a special fund to provide affordable housing in
the Town of Mansfield. The fund shall be known as the "Affordable
Housing Trust Fund," hereinafter the "fund." Such fund shall not lapse
at the end of the municipal fiscal year.
A.
In addition to such sums as may be directly appropriated by the Town
for deposit into said fund (if any), the Town is authorized to and
shall deposit all other monies received by it for the purposes of
affordable housing, from whatever source such monies are received
(the "sources"). The sources may include, but are not limited to,
building permit fees, inclusionary zoning fees, municipal appropriations,
monetary gifts, grants, loans, and monies received from state and
federal agencies.
B.
Said fund shall be in the custody of the Town of Mansfield. All or
any part of the monies in said fund may be invested in any securities
in which public funds may be lawfully invested. All income derived
from such investment shall be placed into the fund and become a part
thereof. The monies so invested shall at all times be subject to withdrawal
for use as hereinafter set forth.
C.
No sums contained in said fund, including interest and dividends earned, shall be transferred to any other account within the Town budget. However, in the event that work is performed by departments of the Town of Mansfield pursuant to this chapter, the cost of said work may be reimbursed from the fund under § 174-3B. No expenditures shall be made from said fund except in accordance with the provisions of this chapter. No expenditures shall be made from the fund in excess of the available balance in the fund.
A.
The continuation of the fund shall be perpetual, notwithstanding
that from time to time said fund may be unfunded.
B.
Expenditures shall be made from the fund only in accordance with
the following procedures and requirements:
(1)
Use of funds shall be limited to costs associated with:
(a)
Activities to retain and/or create affordable housing within
the meaning of C.G.S. § 8-30g. Such activities may be undertaken
by the Town or facilitated by the Town through the issuance of grants
and/or loans. Such activities include but are not limited to:
(b)
Administration of the fund and associated activities, including
monitoring of affordable housing restrictions. Such costs may include,
but are not limited to, staff, contracted services, advertising and
marketing, and technology/equipment needed to manage the fund and
associated activities;
(c)
Preparation of updates to the Town's Affordable Housing
Plan, including, but not limited to, contractual services and costs
associated with community engagement during the planning process.
(2)
If the Town meets the provisions of C.G.S. § 8-30g(k),
as amended, funds may also be used for community development and human
services programs that assistance for households at or below 80% of
median income as defined by C.G.S. § 8-30g and its associated
regulations.
(3)
All requested/proposed expenditures from the fund must be approved
by the Town Council in accordance with the following procedures:
(a)
Proposed administrative expenditures pursuant to § 174-3B(1)(a) may be authorized by the Town Council as part of its annual budget process. Expenditures in excess of the budgeted amount shall be subject to the procedure established in § 174-3B(1)(b) and (c).
(b)
All other proposed expenditures shall be reviewed by the Affordable
Housing Committee (AHC), Director of Planning and Development, and
Finance Director for:
[1]
Consistency of the proposed expenditure with this chapter and
the Town's Affordable Housing Plan, as amended.
[2]
Consistency of the proposed expenditure with priorities and
action plans established by the AHC and/or Town Council with regard
to implementation of the Town's Affordable Housing Plan.
[3]
Consistency of the proposed expenditure with the Plan of Conservation
and Development and Zoning Regulations, where applicable.
[4]
Availability of funds and impact of the expenditure on the fund
balance.
(c)
The AHC, Director of Planning and Development, and Finance Director shall provide comments and recommendations to the Town Council regarding the proposed expenditure of funds pursuant to § 174-3B(3)(b), including recommendations on the sum to be expended.
The AHC shall provide the Town Council with an annual report
on the status of the fund within 90 days of the end of the fiscal
year. Such report shall include:
