§ 3-1-5. Alexandria Affordable Housing Initiatives Account.

(a)

Establishment of account. There is hereby established for the City of Alexandria a permanent account within the Alexandria Affordable Housing Fund to be known and designated as the City of Alexandria Affordable Housing Initiatives Account, which account shall be accounted for and maintained separate and apart from all other accounts maintained by the City of Alexandria.

(b)

Funding of account.

i.

There is hereby assigned and appropriated to such Account, for the fiscal year commencing July 1, 2010 and in each succeeding fiscal year, from the tax on real estate levied pursuant to section 3-2-181 of this code, in addition to all other appropriations made to such account, if any, the sum of $0.006 on each $100 of the assessed value of all real estate subject to such tax.

ii.

There is hereby assigned and appropriated to such Account for the fiscal year commencing July 1, 2018 and in each succeeding fiscal year, from the tax on meals sold by restaurants levied pursuant to section 3-2-242 of this code, in addition to all other appropriations made to such account, if any, the sum of one percent of the tax on meals sold by restaurants.

(c)

Expenditures from account. Notwithstanding any contrary provision of law, appropriations from the said account shall be authorized and made exclusively to assist, finance and support, directly or indirectly, the provision of housing which is affordable to households with incomes up to the limits established in the city's Affordable Housing Policy, as from time to time amended. Unexpended appropriations to such account shall not lapse or expire at the end of the fiscal year in which made, irrespective of whether such appropriations were encumbered within such fiscal year.

(d)

The provision of housing defined. As used in this section, the provision of housing includes, without limitation, the preservation of existing housing; the construction of new housing, or financial or other assistance for the purchase and/or rental of housing units, in accordance with the city's Affordable Housing Policy, or with the city's Consolidated Plan for Housing and Community Development, as from time to time amended. (Ord. No. 4397, 5/14/05, Sec. 1; Ord. No. 4592, 5/16/09, Sec. 1; Ord. No. 4671, 6/12/10, Sec. 1; Ord. No. 5133, 5/12/18, Sec. 1)