AN ACT AUTHORIZING THE CITY OF EVERETT TO ESTABLISH A LINKAGE FEE REVOLVING FUND.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
SECTION 1. The city of Everett may, by ordinance, require the payment of an affordable housing linkage fee for any project, including a planned unit development project, that: (i) requires zoning relief, including without limitation, a variance, special permit, special permit with site plan review or site plan approval; and (ii) contains a single use or combination of uses exceeding a square foot threshold to be determined from time to time by the city council. The ordinance shall specify the dollar amount of the affordable housing linkage fee, the method by which it shall be increased from time to time and the types of uses to which it shall apply.
SECTION 2. (a) Notwithstanding section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the city of Everett may establish an Affordable Housing Linkage Fee Revolving Fund which shall be kept separate and apart from all other funds of the city by the city of Everett treasurer and into which shall be deposited all affordable housing linkage fees received by the city of Everett. The fund shall be used for the construction or rehabilitation of affordable housing within the city of Everett. For the purposes of this act, “affordable housing”, shall mean housing for individuals or families with incomes at or below 110 per cent of the area median income. The area median income shall be calculated by the United States Department of Housing and Urban Development, or a successor agency, and shall be adjusted for family size. The mayor shall administer the fund for those purposes.
(b) Annually, on or before July 1, the mayor shall file a report with the city council regarding the administration of the fund. The annual report shall include: (i) the current balance in the fund; (ii) any money deposited into the fund; and (iii) expenditures from the fund. The city council shall accept the report of the fund.
(c) The treasurer may invest money in the fund in the manner provided in section 54 of said chapter 44.
SECTION 3. This act shall take effect upon its passage.
Approved, January 5, 2017