[HISTORY: Adopted by the Town Council of
the Town of Barrington 7-10-2006 by Ord. No. 2006-5. Amendments noted where applicable.]
The Town Council finds that:
A.
There is a critical shortage of affordable and accessible
housing in the Town of Barrington; and
B.
There is a specific housing need to be addressed by
the Town, the needs of residents of low and moderate income as defined
by state law; and
C.
The Town state-approved Affordable Housing Plan outlines
implementation strategies towards securing at least 10% of the housing
stock as permanently affordable in accordance with a state mandate;
and
D.
The Affordable Housing Plan recognizes the need for
a dedicated financial resource which can be committed to the production
of new affordable housing units and the rehabilitation, and thereby
preservation, of existing affordable housing; and
E.
The Affordable Housing trust fund can be designed
to take advantage of unique opportunities for housing production and
to address the specific needs identified in the Town Affordable Housing
Plan.
As used in this chapter, the following terms
shall have the meanings indicated:
Rental or homeownership housing that requires a household
to spend no more than 30% of its gross income on housing related expenses.
As defined by Rhode Island Housing or other state agency
in accordance with applicable state law.
A community-based nonprofit corporation, which has been determined
to be an organization described in Section 501(c)(3) of the Internal
Revenue Code of the United States and that has a demonstrated capacity
to carry out proposed housing activities.
A household whose annual income does not exceed 30% of the
area median income as adjusted to family size.
Persons and families who have no access to or can reasonably
be expected not to have access to either traditional or permanent
housing which can be considered safe, sanitary, decent and affordable.
Emergency assistance to prevent a household from becoming
homeless.
The Affordable Housing trust fund Housing Board of Trustees,
as described below.
A community-based organization whose mission includes providing
housing and/or revitalizing a community or communities.
A household whose annual income does not exceed 80% of the
area median income as adjusted to family size.
A household whose annual income does not exceed 120% of the
area median income as adjusted to family size.
A household whose annual income does not exceed 50% of the
area median income as adjusted to family size.
The purposes of the Barrington Affordable Housing
trust fund are:
A.
To increase resources available for the creation or
rehabilitation of affordable housing and neighborhood revitalization;
B.
To create and preserve affordable and accessible housing
to meet the needs of the Town's low- and moderate-income households;
C.
To provide housing investment to revitalize and maintain
the integrity of existing neighborhoods; and
D.
To leverage additional outside resources for the creation
and rehabilitation of affordable housing.
A.
The Affordable Housing trust fund is hereby established
as a separate segregated account under the name of the "Barrington
Affordable Housing trust fund," held by the Town in trust to address
the purposes set forth in this chapter.
C.
It is the intention of the Town Council that the trust
fund be a dedicated fund for the implementation of the purposes of
this chapter. Therefore, any assets remaining in the trust fund at
the end of any fiscal year shall be carried into the next fiscal year,
including all interest and income earned, as well as any repayments
or forfeitures of loans and/or grants.
D.
Trust fund money shall be distributed for the benefit
of the target income groups according to the Barrington Affordable
Housing Plan, adopted November 2005 and as may be amended from time
to time.
E.
The acceptance of funding shall be conditioned upon
compliance with long-term affordability restrictions and monitoring
in accordance with guidelines provided by Rhode Island Housing and
Mortgage Finance Corporation, the Barrington Affordable Housing Plan
and other applicable local, state and federal restrictions.
A.
The Town of Barrington Finance Department, through
the Town Manager, will administer the Affordable Housing trust fund.
B.
Officials and staff as designated by the Town Manager
shall provide administrative support to the Housing Board of Trustees
as necessary. The administrative costs of the Affordable Housing trust
fund and Housing Board of Trustees will be paid through the Zoning
and Planning Department (or other Town budget provision).
A.
There is hereby established a Housing Board of Trustees
consisting of seven members, which may include up to two, but shall
include at least one, representatives of the business community and
one representative of a community-based organization or housing development
organization. The remaining members shall be appointed from the community
at large. Members shall serve without compensation.
B.
Each member of the Housing Board of Trustees shall
be a resident of the Town of Barrington and shall be appointed and
confirmed by the Town Council.
C.
Of the seven members of the Housing Board of Trustees
initially selected, three members shall be appointed for a three-year
term, two members shall be appointed for a two-year term, and two
members for a one-year term. All members of the Housing Board of Trustees
appointed thereafter shall be appointed for full terms of three years.
Should there be a vacancy on the Housing Board of Trustees, the Town
Council shall appoint and confirm a replacement to serve the remainder
of the vacant term.
D.
Notwithstanding the initial appointments, a full term
of office for a member of the Housing Board of Trustees shall begin
on the first day of the calendar year following their appointment
and shall expire on the last day of the calendar year three years
later.
E.
For the purposes of conducting any official business
a simple majority of the sitting Housing Board of Trustees shall constitute
a quorum.
F.
The affairs of the Housing Board of Trustees shall
be conducted in accordance with the State of Rhode Island's Open Meetings
Act and Access to Public Records Act. Members of the Board of Trustees
shall comply with the Rhode Island Rules of Ethics.
A.
The Housing Board of Trustees shall set standards,
policies, and goals for the trust fund, consistent with the purposes
and policies set forth in this chapter, including without limitation
criteria for eligible projects, number and type of units funded, and
scoring of applications for funding.
B.
The Board of Trustees shall establish bylaws for the
conduct of business in accordance with this chapter.
C.
The Housing Board of Trustees shall annually review
trust fund awards to ensure that trust fund resources are expended
in a manner that conforms with this chapter and with Housing Board
of Trustees' directives, and shall revise trust fund policies as needed
to ensure this conformity.
D.
By February 1 of each year, the Housing Board of Trustees
shall issue an annual report on the activities and accomplishments
of the trust fund in the previous calendar year. This report shall:
(1)
Provide total numbers of housing units produced, homes
preserved, and households prevented from becoming homeless with trust
fund support.
(2)
List projects funded through the trust fund.
(3)
Report on funds expended and dollars leveraged by
trust fund funds.
(4)
Report in aggregate form the number of households
benefiting from the trust fund by income level, geographic distribution,
family size, and other criteria as selected by the Housing Board of
Trustees.
(5)
Report on modifications which will be made to policies
of the Board of Trustees designed to reflect the changing needs of
the Town.
(6)
Establish goals and objectives for the upcoming year.
E.
The fund shall, for financial reporting purposes,
be a governmental fund of the Town of Barrington and, as such, shall
be included in the Town's comprehensive annual financial report and
will be audited in accordance with governmental auditing standards.
F.
The Board of Trustees shall follow all Town policies,
including, but not limited to, the Town's purchasing policy, and as
such is subject to all state purchasing guidelines. All monies received
by the Housing Board of Trustees shall be paid to the Finance Director
of the Town of Barrington, who shall hold the same in a special fund
and shall pay and distribute the same only on the written order of
the Housing Board of Trustees and/or Town Council.
A.
Eligible applicants.
(1)
Projects and programs to which funds may be provided
include eligible community, neighborhood-based, housing-assistance
organizations, institutions, associations, for nonprofit and profit
developers, as well as societies or corporations that:
(a)
Do not discriminate on the basis of age, religion,
sex, race, color, marital status, sexual preference or national origin;
provided, however, that this provision shall not affect the eligibility
of an applicant proposing age-restricted housing; and
(b)
Conduct an annual certified external audit; and
(c)
Operate a drug-free premises.
(2)
Individual homeowners may be eligible applicants through
a structured home loan/grant program, provided they meet certain eligibility
requirements.
B.
Eligible projects. Eligible uses of trust fund resources
may include, but are not limited to, affordable housing projects,
including workforce housing consisting of new construction rental
and homeownership housing, substantial or moderate rehabilitation
of rental or homeownership housing, housing preservation, and grants
to make homes accessible to individuals with disabilities, and homelessness
prevention activities.
C.
Award of funds. Trust fund resources may be distributed
as grants and/or loans, pursuant to the terms and conditions set forth
in an agreement, any request for proposal, and in conformance with
the directives of the Housing Board of Trustees.
D.
General review criteria. The Housing Board of Trustees
shall review the extent to which eligible proposals meet the following
review criteria in order to determine which, if any, best meet the
purposes of the trust and the needs of the Town:
(1)
The number of affordable units to be developed through
new construction, rehabilitation, conversion or acquisition.
(2)
The amount of money to be invested from the trust
fund per affordable unit to be developed, preserved, or acquired.
(3)
The developer's capacity, determined through consideration
of the developer's past history in completing projects or similar
scale and nature, and for developers proposing rental housing, the
property management history of the developer and management agent.
(4)
The timeliness with which units shall be developed.
(5)
The number of years that the project shall maintain
units at affordable rental or sales prices, and the strength of the
enforcement mechanisms offered to ensure this long-term affordability.
(6)
The number of the affordable units that shall be made
available to households within the various income categories (i.e.,
moderate-, low-, very-low-, extremely-low-income households).
(7)
The extent to which projects provide necessary housing
for families, elderly, or special needs individuals, as such a need
is identified in the Town's Affordable Housing Plan.
(8)
The degree to which Trust funds monies are used to
leverage additional funds and/or the funds return, through repayment,
to the Trust to enhance its available resources.
(9)
The extent to which the developer has addressed or
intends to address community concerns related to the project.
(10)
The extent to which the developer's proposal minimizes
negative impacts on existing tenants, particularly displacement.
(11)
The extent to which a project is consistent with the Town of Barrington Comprehensive Community Plan and specifically the Affordable Housing Plan, and the extent to which a project is consistent with Chapter 185, Zoning, and Chapter 200, Land Development and Subdivision Regulations; provided that an applicant shall seek relief from the Zoning Board or the Planning Board where required.
(12)
Such other criteria as the Housing Board of Trustees
may establish in request for proposals or alternative application
process.
A.
The Housing Board of Trustees shall provide for the
provision of information and applications, and for the distribution
of funds through the Town's Finance Department.
B.
The Trust may accept applications for use of dedicated sources of revenue, as described in § 39-10, under programs authorized by the Town Council. Decisions on acceptance or rejection of proposals may be made on a case-by-case basis or through a competitive funding process. Awards made in accordance with a Town Council approved program may be at the discretion of the Board of Trustees; provided, however, that awards to any one applicant in an amount of $50,000 or greater, or in an amount at or above 30% of the funds budgeted under the Town Council approved program, shall require Town Council approval. A decision denying the award of funding under a Town Council approved program may be appealed to the Town Council by an applicant.
C.
In addition, the Trust may, from time to time, issue
a request for proposal (RFP) in conjunction with the Town of Barrington.
The request may be for a particular type of project or for general
housing development/preservation proposals. The RFP will be advertised
in, at least, the Providence Journal and one local newspaper and will
be mailed to Rhode Island Housing, any group or individual who has
expressed an interest in being included on a RFP mailing list. Awards
made as the result of an RFP will receive a recommendation from the
Board of Trustees and shall be subject to Town Council approval.
The Housing trust fund is composed of several
fund sources. The fund sources have been combined to create a pool
of money to fund a variety of housing projects and programs, which
directly assist homeowners in the creation or rehabilitation of affordable
housing or allow community-based organizations and housing-based organizations
to help provide housing options for households earning up to the U.S.
Department of Housing and Urban Development moderate-income limit.
A.
Capitalization. The Affordable Housing trust fund
shall be funded through revenues derived from gifts or grants to the
Town and the trust fund, and from appropriations from the Town's general
fund or other public sources, as the Town Council may from time to
time establish or approve. Distribution and investment of capital
funds shall require the approval of the Town Council.
B.
Dedicated sources of revenue. Dedicated sources of
revenue will be sought through the state and federal government subsidy
programs as well as private and public sources. Dedicated sources
may also include the collection of payments in lieu of construction
of affordable housing required under Town Council approved inclusionary
zoning provisions, the collection of impact fees or other exactions
approved by the Town Council, and the repayment of loans funded by
the Trust.
C.
Any funds collected by the trust fund in the ordinary
course of its business, including other sources that may be identified,
interest and income earned, repayments, or forfeitures under any loan
or grant agreements shall be deposited into the trust fund. In order
to increase available resources for affordable housing production
and preservation, the trust fund shall not supplant current funding
levels for housing available from other sources.
This chapter shall take effect upon passage.
