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A. The purpose of the Affordable Housing Trust Fund [AHTF] is to support the creation or preservation of housing that is affordable to people with incomes that do not exceed 120% of the area median income, as defined by the Department of Housing and Urban Development for the Medford-Ashland Metropolitan Service Area.

B. AHTF funds will support activities that create, preserve or acquire housing within the Ashland Urban Growth Boundary. AHTF funds may also be used for permanent or transitional housing for homeless families and individuals, and for the modernization, rehabilitation and repair of public housing.

C. The AHTF is not intended to be the sole source of funding for affordable housing and any activity or project eligible for support from the AHTF is expected to develop additional sources of funds. (Ord. 2966, added, 10/07/2008)