(a)
(1) There is created the Arkansas Housing Trust Fund Advisory Committee for the purpose of advising the staff and the Board of Directors of the Arkansas Development Finance Authority with respect to the Arkansas Housing Trust Fund.
(2) The members of the advisory committee shall be residents of the state and should, to the extent possible, reflect the demographics of the state with respect to geography, race, gender, and urban-rural mix.
(3) The members of the advisory committee shall be entitled to expense reimbursement under § 25-16-902 from amounts deposited into the fund.
(4) Each member of the advisory committee should have a demonstrated interest in the housing needs of individuals and families with low or moderate incomes and the revitalization of distressed neighborhoods.
(b) The advisory committee shall consist of eleven (11) members with the qualifications under § 15-5-1705 to be appointed by the Governor, the Speaker of the House of Representatives, and the President Pro Tempore of the Senate, as follows:
(1) A representative of the financial industry, appointed by the Governor;
(2) A beneficiary of assistance in rental housing or home ownership, appointed by the Governor;
(3) An advocate for the homeless, appointed by the Governor;
(4) A representative of the real estate industry, appointed by the Governor;
(5) A representative from the economic development field, appointed by the Governor;
(6) A developer of affordable housing, appointed by the Governor;
(7) A citizen, appointed by the Governor;
(8) A consumer advocate with experience as a fair-housing advocate, housing counselor, or affordable housing advocate, appointed by the Speaker of the House of Representatives;
(9) A housing advocate representing the needs of rural interests, appointed by the Speaker of the House of Representatives;
(10) A special needs housing advocate appointed by the President Pro Tempore of the Senate; and
(11) An advocate for public housing, appointed by the President Pro Tempore of the Senate.
(c)
(1) A member of the advisory committee shall serve a term of four (4) years.
(2) In order to stagger the terms of the members, the initial members of the advisory committee shall draw lots as follows:
(A) Two (2) members will have an initial term of one (1) year;
(B) Three (3) members will have an initial term of two (2) years;
(C) Three (3) members will have an initial term of three (3) years; and
(D) Three (3) members will have an initial term of four (4) years.
(3) Members of the advisory committee may serve successive terms.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.