24-0595

City-Wide Affordable Housing Development District For the purpose of designating a “development district” to be known as the “City-Wide Affordable Housing Development District”; providing for and determining various matters in connection with the establishment of the development district; creating a special, tax increment fund for the development district; to provide for the financing of costs associated with the rehabilitation of vacant units and the development of affordable housing; allocating certain property taxes to that fund; making certain findings and determinations; providing for a special effective date; and generally providing for matters relating to the designation and operation of the development district, the establishment and use of the special, tax increment fund to provide for the payment by or reimbursement to the City for debt service which the City is obligated to pay or has paid (whether such obligation is general or limited) on any special obligation bonds or notes issued by the City, the replenishment of any reserve fund established for any bonds, and the payment of certain expenses and administrative costs related to the operation of the development district; and providing for a special effective date.

Ordinance Enacted Introduced September 30, 2024

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