2019 Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 1 - Development of Economic and Natural Resources Generally
Chapter 5 - Arkansas Development Finance Authority
Subchapter 17 - Arkansas Housing Trust Fund Act of 2009
§ 15-5-1702. Legislative Intent
- The General Assembly finds:
(1) That current economic conditions, the lack of affordable housing, and declining resources at all levels of government adversely affect the ability of the citizens of Arkansas to obtain safe, decent, and affordable housing;
(2) That the lack of affordable housing affects the abilities of communities to maintain and develop viable and stable economies; and
(3) That the establishment of the Arkansas Housing Trust Fund is intended:
(A) To provide a flexible source of funds for communities to address their affordable housing needs;
(B) To help families attain economic stability;
(C) To revitalize distressed neighborhoods and build healthy, vibrant communities by developing high-quality affordable housing;
(D) To leverage additional private investment in Arkansas communities;
(E) To contribute to economic growth through increased housing production, employment, and tax revenues, thereby benefiting all the citizens of the state;
(F) To alleviate deficiencies in the supply of safe, accessible, and affordable housing for the citizens of the state most likely, because of low incomes, to suffer from these deficiencies, including without limitation persons who are homeless, disabled, elderly, or victims of domestic violence; and
(G) To alleviate deficiencies in the supply of safe, accessible, and affordable housing for the citizens of the state living in rural areas.
