(a) Establishment of Fund. The Citywide Affordable Housing Fund is established as a category eight fund to receive fee revenue dedicated to affordable housing and other contributions to the fund. The fund receives money from, among other sources:
(1) The North of Market Residential Special Use District, Planning Code Section 263.7;
(2) The Jobs Housing Linkage Program, Planning Code Sections 413et seq.;
(8) Repayments of loans and other program income associated with investments initially made with monies from the fund.
(b) Use of Fund. The fund is to be used exclusively by the Mayor's Office of Housing and Community Development, or its successor, for the purpose of supporting affordable housing in San Francisco. Specific eligible uses of the fund are delineated for each fee in the code where the fee is established. Within the fund, all fees, repayments, and program income shall be separately accounted for as required by each fee.
(c) Exceptions to Fund Category. The Director of the Mayor's Office of Housing and Community Development shall approve all expenditures from the fund.
(d) Administration of Fund. The Mayor's Office of Housing and Community Development, or its successor, shall administer the fund and shall report annually to the Board of Supervisors on the current status of the fund, the amounts approved for disbursement, and the number and types of housing units or households assisted. The Mayor's Office of Housing and Community Development shall have the authority to prescribe rules and regulations governing the Fund.
