Purpose of Trust

Sec. 373A.103. PURPOSE OF TRUST. 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 (H.B. 525), Sec. 1, eff. September 1, 2005.