§ 5-20-5-18 — Affordable housing fund advisory committees

(a) An eligible entity shall establish an
affordable housing fund advisory committee consisting of the following
eleven (11) members:
(1) One (1) member appointed by the executive of the eligible
entity to represent the interests of low income families.
(2) One (1) member appointed by the executive of the eligible
entity to represent the interests of owners of subsidized,
multifamily housing communities.
(3) One (1) member appointed by the executive of the eligible
entity to represent the interests of banks and other financial
institutions.
(4) One (1) member appointed by the executive of the eligible
entity to represent the interests of the eligible entity.
(5) One (1) member appointed by the executive of the eligible
entity to represent real estate brokers. The member appointed
under this subdivision must be nominated to the executive by the
local realtors' association.
(6) One (1) member appointed by the executive of the eligible
entity to represent construction trades. The member appointed
under this subdivision must be nominated to the executive by the
local building trades council.
(7) Five (5) members appointed by the legislative body of the
eligible entity to represent the community at large. Members
appointed under this subdivision must be nominated to the
legislative body after a general call for nominations from
township trustees, community development corporations,
neighborhood associations, community based organizations, and
other social services agencies.
(b) Members of the affordable housing fund advisory committee
serve for a term of four (4) years, and are eligible for reappointment. If
a vacancy exists on the committee, the appointing authority that
appointed the former member whose position has become vacant shall
appoint an individual to fill the vacancy. A committee member may be
removed at any time by the appointing authority that appointed the
committee member.
(c) The affordable housing fund advisory committee shall make
recommendations to the eligible entity regarding:
(1) the development of policies and procedures for the uses of the
affordable housing fund; and
(2) long term sources of capital for the affordable housing fund,
including:
(A) revenue from:
(i) development ordinances;
(ii) fees; or
(iii) taxes;
(B) financial market based income;
(C) revenue derived from private sources; and
(D) revenue generated from grants, gifts, donations, or income
in any other form from a:
(i) government program;
(ii) foundation; or
(iii) corporation.

Legislative History

As added by P.L.115-2000, SEC.1. Amended by P.L.127-2012, SEC.1.