§ 15-5-1706 - Creation of Arkansas Housing Trust Fund Advisory Committee. - Arkansas Statutes

15-5-1706. Creation of Arkansas Housing Trust Fund Advisory Committee.

(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 housing trust 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.