Citrus Heights Municipal Code Div. 4 Fund

All monies collected pursuant to this article or a resolution adopted hereunder shall be used for the construction of new affordable housing, the preservation of existing affordable housing at-risk of conversion to market-rate, and the revitalization of distressed affordable housing. Monies may also be used to cover reasonable administrative expenses not reimbursed through processing fees. No portion of these fees may be diverted to other purposes by way of loan or otherwise.

(Ord. No. 2003-10, § 1(16.89.500), 12-10-2003)

These monies shall be deposited into a separate fund. This fund will be administered by the community development director who shall have the authority to govern the use of these fees consistent with this article and to prescribe procedures to carry out the purposes herein and as may be directed by the city council. By resolution of the city council, monies may be transferred to other funds under the control of the city provided that the use of the monies remains consistent with this article.

(Ord. No. 2003-10, § 1(16.89.505), 12-10-2003)

These monies shall be used in a manner consistent with the adopted City of Citrus Heights General Plan and as may be directed by resolution of the City Council of the City of Citrus Heights. Monies may be disbursed as loans or grants to public agencies, private organizations, or individuals. The terms of each loan or grant will be established by the community development director in a manner consistent with the direction of the city council as evidenced by resolution and/or guidelines as may be adopted for the use of these monies.

(Ord. No. 2003-10, § 1(16.89.510), 12-10-2003)

Housing units assisted with these monies must be located within the limits of the City of Citrus Heights.

(Ord. No. 2003-10, § 1(16.89.515), 12-10-2003)

At the end of each city fiscal year or as soon thereafter as possible, the city's treasurer and the community development director shall report to the city council on the monies received and disbursed under this article. The report will include an evaluation of the fee schedule and a recommendation for revisions to the fee schedule as may be necessary. This report shall contain the findings as required by Government Code § 66001(d).

(Ord. No. 2003-10, § 1(16.89.520), 12-10-2003)