Richmond Affordable Housing Trust Fund Board to meet to present and discuss the 2014 Richmond Affordable Housing Strategy Report

RICHMOND CITY COUNCIL Richmond City Council – Richmond City Hall - 900 E. Broad Street, Suite 305 - Richmond, Virginia 23219 U.S.A. - www.council.richmondva.gov COUNCIL PUBLIC INFORMATION NEWS RELEASE IMMEDIATE RELEASE TO BE FORWARDED AND SHARED Monday, 23 February 2015 Richmond Affordable Housing Trust Fund Board to meet to present and discuss the 2014 Richmond Affordable Housing Strategy Report All residents invited and encouraged to attend WHAT (Richmond, Virginia U.S.A.) - The Richmond Affordable Housing Trust Fund Board will meet to present and discuss the 2014 Richmond Affordable Housing Strategy Report. WHEN Wednesday, February 25, 2015 5:00-7:00 p.m. WHERE Richmond City Hall – 5th Floor Conference Room Richmond City Hall 900 E. Broad Street; Richmond, Virginia 23219 WHO The Honorable Ellen F. Robertson, Councilwoman Richmond City Council, Richmond Gateway 6th Voter District CONTACT For more information, please contact Ms. Cybelle McDaniels, Project Analyst/Board Analyst, Richmond City Council Affordable Housing Trust Fund Advisory Board, at 804.646.5425, or cybelle.mcdaniels@richmondgov.com - E N D – BACKGROUND ______________________________________________________________________ Affordable Housing Affordable housing serves as a measure of the overall wellbeing, livability and success of thriving communities. A stable living environment is a core foundation for helping families, children and individuals begin to grow, prosper and prepare for life-long achievement and success. Important to the existence and availability of affordable housing is the leadership and support of individuals and public, private and nonprofit entities. Richmond City Council Affordable Housing Trust Fund Advisory Board Established by Richmond City Council on July 23, 2012 by Richmond City Council Ordinance Number 2012-156-125, the purpose of the Richmond City Council Affordable Housing Trust Fund Advisory Board is to submit a report containing the Board's advice and recommendations concerning appropriateness of such regulations, operational policies and procedures for using the Richmond Affordable Housing Trust Fund, with respect to the following: 1. The ways in which the City may ensure the sustainability and proper use of the Fund over time and any conditions under which the Council should establish an oversight board or board of trustees to administer the Fund. 2. Potential dedicated revenue sources for the Fund. 3. The ratio of grants to loans to be disbursed from the Fund. 4. In accordance with the advice of the City Attorney or the designee thereof, the ways in which the City may lawfully encourage recipients of disbursements from the Fund to employ individuals of low and moderate income households in the projects for which funds are expended in accordance with the purposes of the Fund. 5. In accordance with the advice of the City Attorney or the designee thereof, the ways in which the City may lawfully encourage minority business enterprises, as defined in Chapter 74 of the Code of the City of Richmond (2004), as amended, to participate in the City’s efforts to accomplish the purposes set forth in section 58-101 of the Code of the City of Richmond (2004), as amended. 6. Any other factors or considerations, as the Board may identify, affecting the City’s ability to achieve the purposes of the Fund. - E N D - ____________________________________________________ Steve Skinner Council Public Information Manager RICHMOND CITY COUNCIL OFFICE OF THE COUNCIL CHIEF OF STAFF Richmond City Hall 900 E. Broad Street, Suite 305 Richmond, Virginia 23219 U.S.A. 804.646.6052 (office) 804.335.4054 (mobile) 804.937.1386 (home/mobile) 804.646.5468 (fax) steven.skinner@richmondgov.com (email) www.council.richmondva.gov(website) www.facebook.com/RichmondCityCouncilVirginiaUSA ____________________________________________________ MISSION The mission of Richmond City Council is to represent citizens in creating and amending local laws, providing government policy and oversight, and approving the city budget. VISION Richmond City Council is committed to creating a vibrant community that is a great place to live, work, learn, play, visit and raise a family.