Sec. 111.620. - Community Development Special Revenue Funds.

There are hereby established Revenue Fund accounts into which all proceeds and program income including rental payments, pursuant to programs funded from revenues made available by the United States or the State of Florida, shall be made, and accrued interest earned, shall be deposited, and from which funds shall only be disbursed for uses in accordance with federal program guidelines of the U.S. Department of Housing and Urban Development and any applicable program guidelines of the State of Florida. The programs will be administered in compliance with applicable federal, State and local laws, rules and regulations using forms and procedures developed by the Housing and Community Development Division of the Planning and Development Department within approved budget limits. The Mayor, or his or her designee, shall have the authority to make loans and grants in amounts up to, but not in excess of, $100,000, and take all actions necessary or appropriate in connection therewith (including, but not limited to, executing and delivering loan and grant agreements), without approval by Council. Loans and grants in excess of $100,000 shall require the approval of Council and the execution by the Mayor and Corporation Secretary. For program income and principal or interest received from the repayments of loans under the Community Development Block Grant (CDBG) Program, in compliance with the requirements of 24 CFR 570.504, the Mayor, or his or her designee, shall have the authority to transfer funds to any unpaid contract amounts of CDBG and housing projects approved by prior City Council ordinances and shall be used to fund any unpaid amounts under said contracts prior to the use of CDBG Program entitlement proceeds appropriated by Council; provided, however, the above provision shall not be construed to grant any authority to increase said contract amounts or the City's financial obligations under said contracts previously approved by City Council without further approval by the Council. Other than as provided herein, program income and principal or interest received from repayments of loans under the CDBG Program shall not be used for any other expenditure or use without further approval and appropriation by the Council. (Ord. 95-3-469, § 6; Ord. 2006-356-E, § 12; Ord. 2006-422-E, § 85; Ord. 2011-732-E, § 35; Ord. 2013-209-E, § 40; Ord. 2013-292-E, § 6) Note— Former § 110.383.