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Committee adopts substitute defining Affordable Housing Trust Fund uses, caps staffing at 15%
Summary
The Finance and Executive Committee approved a substitute charter amendment that clarifies allowed uses for the Affordable Housing Trust Fund, creates a separate administrative/staffing subsection and caps administrative and personnel spending at 15%; council members debated the trade‑offs between transparency and the fund’s financing capacity.
The committee voted to adopt a substitute amendment to the city charter that clarifies the permissible uses of the city’s Affordable Housing Trust Fund and establishes a 15% cap on administrative and personnel costs funded from the trust.
Amber Robinson of the Department of Law read the revised structure into the record: subsection E will cover “Debt service for financing instruments that support housing affordability and housing security.” A new subsection F will read…
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