The following words and phrases whenever used in this chapter shall be construed as defined in this section unless from the context a different meaning is intended.
A. Affordable Housing Trust Fund (AHTF) means a separate account created by the City Finance Department established by this ordinance and used exclusively for AHTF purposes as set forth in this Ordinance and implementing Resolutions of the Council.
B. Administrative Procedures mean the procedures for administration of the AHTF established by Resolution of the City Council, including but not limited to procedures which outline application, evaluation, and all other associated procedures for administration of the AHTF.
C. Affordable Housing means residential housing primarily for households or persons earning less than 120% the area median income where housing costs including principal, interest, taxes, insurance, and homeowners association dues, or rent, do not constitute more than 30% the household income, and as more fully defined per Council Resolution 2006-13.
D. Eligible uses and Activities mean those uses for the AHTF which are set forth an implementing Resolution of the City Council, such uses including but not limited to uses and activities which facilitate the production and preservation of affordable housing within Ashland’s Urban Growth Boundary.
E. Affordable Housing Priorities means priorities established from time to time by the City Council by Motion, Order or Resolution, to guide the allocation of funds from the AHTF. (Ord. 2966, added, 10/07/2008)