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The purpose of the housing trust fund is to:

(1) Provide matching funds, loans, or outright grants to county departments, municipalities, housing authorities, agencies or organizations for the construction, purchase, rehabilitation, or support of low-rent public housing, low-income housing, emergency housing, transitional housing, or housing for the elderly or handicapped for the benefit of the citizens of Snohomish county; and

(2) To establish a fund into which county funds, donations, grants, or other resources designated for the above-mentioned purpose can be deposited and from which allocation can be made. (Added by Ord. 89-125, Nov. 8, 1989).