Affordable Housing Loan Committee
Establishing Resolution No. 2007-261
Purpose:
In order to protect the health, safety, and welfare for the community and ensure that adequate housing for low-income and very low-income households is provided in the City of Elk Grove, the City provides loans to developers of affordable housing projects to assist in construction financing. The Affordable Housing Loan Committee assists in the review and selection of projects requesting funding from the City’s Affordable Housing Fund and Very Low Income Housing Trust Fund, and provides guidance to staff on the long-term management of its affordable housing portfolio.
Members:
The Affordable Housing Loan Committee is comprised of three members:
- Finance Director
- Individual and alternate recommended by a local non-profit affordable housing advocacy group.
- Individual and alternate selected by the No. Calif. Building Industry Assoc.
The committee will be a standing committee that consists of three members. Each member and designated alternates must be approved by a majority vote of the City Council. The first member will be the City’s Finance Director or his or her designee. The second member will be an individual and alternate recommended by a local non-profit or not-for-profit affordable housing advocacy group. The third member will be an individual and alternate selected by the Northern California Building Industry Association. Alternate candidates shall meet the same criteria as appointee members and shall serve on the Committee in the event a regular member is unable to attend the meeting or is unable to review a request due to a conflict of interest.
Term:
The terms of the members shall be two years. There shall be no maximum number of terms that may be served by an individual member.
Qualifications:
Each member of the Affordable Housing Loan Committee must be at least 18 years of age, be registered to vote, and be a United States citizen in good standing. Each member must possess experience in affordable housing development and finance. Committee members are not required to be residents of the City, but must have an interest in promoting the development of affordable housing in the City.
Meetings:
The AHLC is scheduled to meet on a monthly basis, at a date and time determined possible by the Committee and staff, or as necessary to achieve the Committee objective. The monthly meeting day and time will be posted by the City Clerk.
Meetings are currently scheduled for the third Wednesday of each month at 1:00 in Conference Room 3A in Elk Grove City Hall.
Compensation:
The Finance Director and/or his or her designee will serve on the Committee as part of the normal course of City business. The two non-City members will not receive compensation, but serve on a volunteer basis.
Contact:
Sarah Bontrager, Housing Program Manager, (916) 627-3209
2012 Agendas
The following is a list of all published Agendas in PDF format.
| Meeting Date/Time | Type | Agendas | Minutes | |
| 01-18-2012 | 1:00 pm | Regular Meeting |  View |
|
Click here to download reader.
Last updated: 1/14/12 10:59 AM
