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<br />Attachment 1 <br />1 City of Roseville <br />2 ORDINANCE NO. ________ <br />3 <br />4 AN ORDINANCE ESTABLISHING <br />5 <br />6 TITLE 9, CHAPTER 912 <br />7 <br />8 AN ORDINANCE ESTABLISHING TITLE 9, CHAPTER 912 CREATING AN <br />9 AFFORDABLE HOUSING TRUST FUND <br />10 <br />11 THE CITY OF ROSEVILLE ORDAINS: <br />12 <br />13 SECTION 1: Title 9, Chapter 912 of the Roseville City Code is established to read as <br />14 follows: <br />15 <br />16 CHAPTER 912 AFFORDABLE HOUSING TRUST FUND <br />17 <br />18 912.1 ESTABLISHMENT OF TRUST FUND. <br />19 <br />20 A.Pursuant to Minnesota Statutes, Section 462C.16, the City of Roseville (the “City”) <br />21 is authorized to establish a local housing trust fund. <br />22 <br />23 B.The City has determined to create a local housing trust fund that is an Affordable <br />24 Housing Trust Fund which will encourage the creation of affordable housing for <br />25 rental housing and owner-occupied housing, promote the preservation of existing <br />26 affordable housing and naturally occurring affordable housing, and provide rental <br />27 assistance and homeownership assistance to persons of very low income, low <br />28 income, and moderate income. <br />29 <br />30 912.2 DEFINITIONS. <br />31 <br />32 A.“Persons of very low income”- means families and individuals whose incomes do <br />33 not exceed 50 percent of area median income, as median income was most <br />34 recently determined by the United States Department of Housing and Urban <br />35 Development for the Minneapolis-St. Paul-Bloomington, Minnesota Metropolitan <br />36 Statistical Area, as adjusted for smaller and larger families. <br />37 <br />38 B.“Persons of low income” means families and individuals whose incomes do not <br />39 exceed 80 percent of the area median income, as median income was most <br />40 recently determined by the United States Department of Housing and Urban <br />41 Development for the Minneapolis-St. Paul-Bloomington, Minnesota Metropolitan <br />42 Statistical Area, as adjusted for smaller and larger families. <br />43 <br />44 C.“Persons of moderate income” means families and individuals whose incomes <br />45 exceed 80 percent, but do not exceed 120 percent, of area median income, as <br />46 median income was most recently determined by the United States Department of <br />RS160\\1\\909991.v1 <br />Qbhf!7!pg!614 <br /> <br />