Part 57 — MULTI-SOURCE HOUSING FUND

There is hereby created and established the "Multi-Source Housing Fund." Separate accounts shall be established within this fund for each source of funding.

(Ord. 29258.)

There shall be deposited into this fund:

A.

Grant monies received from the state or federal government to support housing and community development activities such as affordable housing and programs to assist the homeless;

B.

Payments of interest and principal on the loans made with grant monies;

C.

Any other interest earned on monies in said fund;

D.

Fees;

E.

Any other sources of funds related to the grant agreements;

F.

Any other monies which the city council from time to time may transfer to or order to be placed in or credited to this fund.

(Ord. 29258.)

Monies in the Multi-Source Housing Fund shall be expended to support a variety of housing and community development activities in accordance with the requirements specified in the applicable source of funding.

(Ord. 29258.)