The object and purpose for which the Board is established is to oversee the development of affordable housing, institutional housing and associated social and physical infrastructure in Kenya. Without prejudice to the generality of subsection,the Board shall:-
- co-ordinate the optimal utilisation of the Fund in the implementation of programmes and projects relating to the development of affordable housing and institutional housing and associated social and physical infrastructure;
- seek to achieve optimal efficiency and cost effectiveness in the development of affordable housing programmes and projects funded by the Fund;
- based on a fiveUyear affordable housing investment programme and annual affordable housing investment programme, determine the allocation of financial resources required for the development of the affordable housing projects, institutional housing and associated social and physical infrastructure;
- manage the Fund and allocate monies in accordance with section 11;
- inspect and enforce compliance to this Act,guidelines and regulations set under the Act;
- monitor and evaluate, by means of technical,financial and performance audits, the delivery of goods, works and services funded by the Fund;
- in implementing paragraph (f), pay due regard to public procurement and disposal regulations and additional guidelines issued or approved by the Cabinet Secretary for the time being responsible for the National Treasury;
- identify, quantify and recommend to the Cabinet Secretary such other potential sources of revenue as may be available to the Fund for the development, of affordable housing programmes and projects and associated social and physical infrastructure for consideration by the Cabinet Secretary to the National Treasury;
- approve the opening and closing of bank accounts of the Fund by the administrator of the Fund;
- approve estimates of revenue and expenditure of the Fund for each financial year; and
- perform such other duties as may be assigned by the Cabinet Secretary in writing.
