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Title:
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Charter amendment (Third Draft) to add Section 16.127 to: establish a baseline appropriation and set aside the equivalent of an annual tax of two and one-half cents [$0.025] on each one hundred dollars ($100) of assessed property tax valuation for the next fifteen (15) years to support affordable housing programs; require the Mayor to prepare an affordable housing plan every three (3) years; affirm City policy urging the Redevelopment Agency to use at least fifty percent (50%) of its tax increment funds for low and moderate income housing; and setting an expiration date of July 1, 2023.
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