LAHTF Ordinance

ORDINANCE NO.

______, SERIES 2024

AN ORDINANCE AMENDING CHAPTER 40 OF THE

LOUISVILLE/JEFFERSON COUNTY METRO CODE OF ORDINANCES
(“LMCO”) RELATING TO THE LOUISVILLE AFFORDABLE HOUSING
TRUST FUND (AMENDMENT BY SUBSTITUTION).
SPONSORED BY: COUNCIL MEMBERS ARTHUR AND PARRISH-WRIGHT
WHEREAS, the purpose of the Affordable Housing Trust Fund is to receive monies
and disburse monies to organizations dedicated to addressing the affordable housing
needs of individuals and families;
WHEREAS, the 2024 Louisville Housing Needs Assessment shows there is a
surplus of housing available for households making 80% of the Area Median Income
(AMI) by 21,143 units;
surplus of housing available for households making 100% of the Area Median Income
(AMI) by 27,019 units;
deficit of housing available for households making 30% of the Area Median Income (AMI)
by 36,160 units;
deficit of housing available for households making 50% of the Area Median Income (AMI)
by 14,237 units; and
WHEREAS, Louisville Metro Council wishes to prioritize public funds for affordable
housing to address Louisville Metro’s most urgent housing needs.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE

LOUISVILLE/JEFFERSON COUNTY METRO GOVERNMENT AS FOLLOWS:
SECTION I: LMCO § 40.41 is amended as follows:
1
§ 40.41 DEFINITIONS AND PURPOSE.
(A) DEFINITIONS.
HOUSEHOLD. For the purposes of the Affordable Housing Trust Fund the term
“household” includes one-person households as well as households of a larger number.
AMI. Area Median Income.
AFFORDABILITY GAP. Refers to the difference between the number of affordable
housing units available within Louisville Metro and the number of households in need of
those units within a specific income group as determined by The Affordable Housing Trust
Fund in its
(B) PURPOSE.
The purpose of the Affordable Housing Trust Fund is to receive monies and disburse
monies to organizations dedicated to addressing the affordable housing needs of
individuals and families of low- and moderate-income households by promoting,
preserving, and producing long-term affordable housing and providing housing-related
services to low- and moderate-income households. The Affordable Housing Trust Fund
may provide financial support for a wide variety of eligible activities to organizations
serving persons in low- and moderate-income households, including, without limitation:
(A) Seniors on fixed incomes;
(B) Persons with disabilities who require accessible affordable housing;
(C) Persons employed in Louisville Metro but financially unable to live in Louisville
Metro;
(D) Single-parent families; and
2
(E) Households with incomes as defined in § 40.42. A needs assessment shall be
done as determined by the Affordable Housing Trust Fund Board and staff within the
first year of operation and shall occur at least every three five years.
SECTION II: LMCO § 40.42 is amended as follows:
§ 40.42 HOUSEHOLDS SERVED BY THE AFFORDABLE HOUSING TRUST FUND
AND REPORTING REQUIREMENTS.
All funds shall be used for eligible activities benefiting households according to the
following allocations. For the purposes of the Affordable Housing Trust Fund the term
“household” includes one-person households as well as households of a larger number.
(A) The Trust has the discretion to allocate aAny funds from a public source, such as
general revenue, whether state or local, taxes, fees or other public sources dedicated to
serving households at or below 80% AMI shall be allocated so that using the following
criteria:
(1) Fifty percent of any public dollars allocated to the Trust shall be dedicated to
serving households at or below 50% Area Median Income (AMI) The Trust shall
determine the amount of funds dedicated to serving households at or below 30% Area
Median Income (AMI) using the affordability gap;
(2) The remaining 50% shall serve households at or below 80% AMI (this includes
households below 50% AMI).) The Trust shall determine the amount of funds dedicated
to serving households at or below 50% Area Median Income (AMI) using the affordability
gap;
(3) The Trust shall determine the amount of funds dedicated to serving households
at or below 80% Area Median Income (AMI) using the affordability gap; and
3
(4) Public funds may also be allocated to fund homeownership programs in any
amount which serve households at or below 80% AMI.
(B) The Trust shall be authorized to accept private gifts, grants, donations, and other
contributions and may use these funds to serve households at or below 110% 80% AMI
(this includes households below 80% AMI or 50% AMI).
(C) The Trust shall include the total amount of public and private funds allocated to
programs serving households at or below 80% AMI, including a breakdown of the
percentage of public and private funds allocated to programs serving households at or
below 80% AMI, 50% AMI, and 30% AMI in its annual report to Metro Council as required
by LMCO 40.45(B).
SECTION III: This Ordinance shall be effective upon its passage and approval or
otherwise becoming law.
_______________________________ _______________________________
Sonya Harward Markus Winkler
Metro Council Clerk Metro Council President
_______________________________ _______________________________
Craig Greenberg Approval Date
Mayor
APPROVED AS TO FORM AND LEGALITY:
Michael J. O’Connell
Jefferson County Attorney
By: ____________________________________
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ORDINANCE NO.

______, SERIES 2024

AN ORDINANCE AMENDING CHAPTER 40 OF THE

SPONSORED BY: COUNCIL MEMBERS ARTHUR AND PARRISH-WRIGHT

and disburse monies to organizations dedicated to addressing the affordable housing

needs of individuals and families;

WHEREAS, the 2024 Louisville Housing Needs Assessment shows there is a

(AMI) by 21,143 units;

WHEREAS, the 2024 Louisville Housing Needs Assessment shows there is a

(AMI) by 27,019 units;

WHEREAS, the 2024 Louisville Housing Needs Assessment shows there is a

WHEREAS, the 2024 Louisville Housing Needs Assessment shows there is a

by 14,237 units; and

housing to address Louisville Metro’s most urgent housing needs.

NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE

“household” includes one-person households as well as households of a larger number.

AMI. Area Median Income.

AFFORDABILITY GAP. Refers to the difference between the number of affordable

monies to organizations dedicated to addressing the affordable housing needs of

individuals and families of low- and moderate-income households by promoting,

preserving, and producing long-term affordable housing and providing housing-related

serving persons in low- and moderate-income households, including, without limitation:

(A) Seniors on fixed incomes;

(B) Persons with disabilities who require accessible affordable housing;

(D) Single-parent families; and

SECTION II: LMCO § 40.42 is amended as follows:

§ 40.42 HOUSEHOLDS SERVED BY THE AFFORDABLE HOUSING TRUST FUND

AND REPORTING REQUIREMENTS.

“household” includes one-person households as well as households of a larger number.

Median Income (AMI) using the affordability gap;

amount which serve households at or below 80% AMI.

(this includes households below 80% AMI or 50% AMI).

programs serving households at or below 80% AMI, including a breakdown of the

percentage of public and private funds allocated to programs serving households at or

otherwise becoming law.

APPROVED AS TO FORM AND LEGALITY:

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