Sec. 373A.103. PURPOSE OF TRUST

Latest version.

The purpose of a trust is to:
(1) control local land use and reduce absentee ownership;
(2) provide affordable housing for low-income and moderate-income residents in the community;
(3) promote resident ownership and control of housing;
(4) keep housing affordable for future residents; and
(5) capture the value of public investment for long-term community benefit.

Added by Acts 2005, 79th Leg., Ch. 495 , Sec. 1, eff. September 1, 2005.

                    
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