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funds policies and procedures. A priority will be on the creation of new affordable housing opportunities ef-units 9Mfor large families currently living in the existing Fnarket fateCity. Other eligible uses of the inclusionary housing gtAG. Fathor tha nnnstn,ntlnn of new affnrdnhin heusinn „niter This inns,,, es,fund include but isare not limited to, pay fE)F one time PFE)gFaFns for Gede enfE)F6eFnent, quality of life and geneFal health and safety aetivities. Manies may also be used to GOVeF Feasenable administrative or Felated pynnnsns o iotorl ,n,ith the @dMinistrotion of this artirdn Creating affordable units from the existing market rate housing stock including but not limited to, the purchase and rehabilitation of units. tilL Funding one-time programs for code enforcement, quality of life, and general health and safety activities. tHL Implementing and promoting programs addressing housing security, eviction prevention, and housing legal assistance for city residents. iv Funding reasonable administrative or related expenses associated with the administration of this article. (2) The fund shall be administered by the executive director, or his or her designee, who may develop procedures in the city's affordable housing funds policies and procedures to implement the purposes of the inclusionary housing fund consistent with the requirements of this article and any adopted budget of the city. (3) Monies deposited in accordance with this section shall be used in accordance with the affordable housing funds policies and procedures, housing element, consolidated plan, or subsequent plan adopted by the city council to construct, rehabilitate, or subsidize affordable housing or to recapture affordable housing at risk of market conversion, or to assist other government entities, private organizations, or individuals to do so. Permissible uses include, but are not limited to, assistance to housing development corporations, equity participation loans, grants, pre -home ownership co -investment, pre -development loan funds, participation leases, or other public -private partnership arrangements. The inclusionary housing fund may be used for the benefit of both rental and owner -occupied housing. (4) A developer receiving funding from the inclusionary housing fund shall implement a local preference in their resident selection criteria and marketing policies meeting guidelines established by the executive director. (5) A developer opting for the in --lieu fee payment option or receiving funding from the inclusionary housing fund, as well as its contractors and subcontractors at every tier performing work for the new housing units iS onnn„paged and should shall Ordinance No. NS-XXX Page 13 of 16 City Council 1 — 27 7/26/2021