RES 2007-26 HOUSING TRUST FUND EXECUTIVE COMMITTEERESOLUTION 2007--26
A Resolution of the City of Bainbridge Island, Washington,
reorganizing the composition of the Housing Trust Fund
Executive Committee to consist of five Citizens.
WHEREAS, the Housing Element of the Comprehensive Plan establishes goals and
policies to encourage the availability of affordable housing to all economic segments, to promote
a variety of densities and housing types, and to encourage preservation of existing housing stock;
and
WHEREAS, the City Council of the City of Bainbridge Island adopted Ordinance 99-45
on October 13, 1999 adopting a new BIMC Chapter 3.38, which establishes the Housing Trust
Fund, a special revenue fund designated as the "affordable housing fund" to develop and
preserve affordable housing and to provide segregated accounting and control for expenditures of
moneys; and
WHEREAS, the Housing Trust Fund is used to acquire land and buildings and to
rehabilitate and preserve dwelling units for the purpose of providing affordable housing for
households earning below the middle income as defined in Bainbridge Island Municipal Code
18.06.565; and
WHEREAS, the Housing Trust Fund Policy Plan, developed when the Trust Fund was
first created, established an Executive Committee comprised of the Mayor, City Administrator,
two citizens, and a member of the City Council; and
WHEREAS, the City Council voted on a motion in a 2007 Budget Action to reorganize
the Housing Trust Fund Executive Committee to consist of five citizens at -large to be appointed
by the Mayor and confirmed by the City Council; now, therefore,
THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. The City Council finds and declares as follows:
The Housing Trust Fund Executive Committee is hereby reorganized to consist solely of
five citizens at -large with backgrounds in green building design and architecture, finance,
construction and/or grant giving with staggered terms.
Section 2. The Housing Trust Fund Policy Plan section entitled, Bainbridge Island
Housing Trust Fund (BIHTF) Management, shall be amended as follows:
"The Executive Committee comprised of five citizens at -large with staggered terms (mom
a City Getineil fnember-, the Mayor-, City Administfater-, a development eansultant d- —A;q. "-at
large" e-itizen) establishes the "rules" for the BIHTF. The Committee also reviews the CAB
recommendations and submits a final recommendation to the City Council."
PASSED by the City Council this 14th day of November 2007.
APPROVED by the Mayor this 15th day of November 2007.
Darlene Kordonowy, Mayor
ATTEST/AUTHENTICATE:
Rosalind D. Lassoff, CMC
City Clerk
FILED WITH THE CITY CLERK: November 6, 2007
PASSED BY THE CITY COUNCIL: November 14, 2007
RESOLUTION NUMBER: 2007-26
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