Village of Southampton, NY
Suffolk County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Board of Trustees of the Village of Southampton 8-14-2008 by L.L. No. 7-2008. Amendments noted where applicable.]
A. 
The purpose of this chapter is to establish a Village of Southampton Workforce Housing Trust Fund. The fund is intended to provide the Village with a mechanism for funding and creating housing opportunities for families and individuals, who are residents of the Village of Southampton and/or employed in the Village of Southampton, who cannot procure affordable housing within the Village.
B. 
Affordable workforce housing is critical. Employers grapple with the task of hiring and retaining employees because of the limited availability of affordable housing. Recruiting and retaining essential personnel (e.g., public safety, health care, municipal employees, volunteer EMS, and fire protection) has become increasingly challenging because of the lack of affordable housing. Volunteer emergency services also are impacted by the lack of affordable housing, prompting the possibility of paid services. The Village Board of Trustees finds that there is a need to ensure housing opportunities for income-eligible households in order to sustain the local economy and community services. Presently, income-eligible households priced out of market-rate housing include health-care professionals, teachers, municipal staff, shop clerks, mechanics, and many others. Additionally, the Village Board of Trustees finds that there is a need to sustain the ranks of its volunteers who provide critical public-safety services for fire protection and emergency medical services. Therefore, the Village Board of Trustees finds that establishment of the Workforce Housing Trust Fund will serve a valid public purpose.
A. 
The Village Board of Trustees hereby establishes the Village of Southampton Workforce Housing Trust Fund.
B. 
Deposits into said fund may include monies from the following sources:
(1) 
Donations or gifts made to the Village for the purpose of providing affordable workforce housing or providing down-payment assistance to eligible homebuyers who qualify for such assistance;
(2) 
Federal, state, county or other grants received by the Village for the purpose of providing affordable workforce housing or providing down-payment assistance to eligible homebuyers who qualify for such assistance;
(3) 
Fees received by the Village pursuant to state or local legislation for the purpose of providing affordable workforce housing or providing down-payment assistance to eligible homebuyers who qualify for such assistance;
(4) 
Repayment of loans issued from monies of said fund;
(5) 
Proceeds received by the Village from the sale of workforce housing produced from monies of said fund and rents received by the Village from the rental of workforce housing produced from monies of said fund.
C. 
Interest accrued from monies deposited into said fund shall be credited to said fund.
D. 
Monies deposited into said fund shall not be transferred to any other account without a resolution of the Village Board of Trustees.
A. 
The Village of Southampton Workforce Housing Trust Fund shall be utilized to the extent permitted by law exclusively for the following purposes:
(1) 
The provision of no-interest or low-interest loans to income-eligible families or individuals who reside and/or work in the Village for the purpose of providing down-payment assistance to eligible homebuyers for the purchase of a first home;
(2) 
The production of workforce housing (including acquisition of real property for the purpose of providing workforce housing, construction of workforce housing, rehabilitation of existing structures for the purpose of providing workforce housing, and costs and expenses related thereto) for sale or rental to income-eligible families or individuals who reside and/or work in the Village;
(3) 
The provision of housing counseling services and other services in furtherance of the purposes of said fund by not-for-profit corporations that are authorized by the Village to provide said services.
B. 
The Village Board of Trustees shall establish by resolution a down-payment assistance program applicable to the provision of no-interest or low-interest loans to eligible homebuyers pursuant to Subsection A(l) above. Such program may include rules, regulations, restrictions, guidelines and policies applicable thereto. Such program may be amended from time to time by resolution of the Village Board of Trustees.
C. 
The Village Board of Trustees reserves the right to establish by resolution a program applicable to the production of workforce housing for sale or rental to eligible families or individuals pursuant to Subsection A(2) above. Such program may include rules, regulations. restrictions, guidelines and policies applicable thereto. Such program may be amended from time to time by resolution of the Village Board of Trustees.