The Taunton Municipal Affordable Housing Trust Fund shall have the responsibility to support the construction and preservation of affordable housing in order to secure rental and home ownership opportunities for the City's low- and moderate-income individuals and families. The Trust Fund shall have the powers and duties specified in MGL c. 44, § 55C.
The purpose of the Trust Fund shall be:
To receive, hold, invest, and/or expend funds for the acquisition, rehabilitation, construction, financing or refinancing of property within the City of Taunton so that such property will be substantially available as residential property for low- and moderate-income persons and to provide mechanisms to ensure such use
To utilize funds for pre-development, environmental and infrastructure services that allow the City of Taunton to provide or preserve real property in the City so that such property will be substantially available as residential property for low- and moderate-income persons and to further provide mechanisms to ensure such use
To engage in any lawful purpose or engage in the exercise of any other power otherwise described in MGL c. 44, § 55C, Subsection (c)(1) to (16), provided that the purpose or exercise of power is not in material conflict with the terms of this article