§ 2-252. Statutory authority.

(a)

The state department of community affairs, in furtherance of its duties under Public Law 93-383, as amended, and the Florida Small Cities Community Development Block Grant Program Act (F.S. § 290.0401 et seq.), determined that the county is competitively qualified for a grant under the community development block grant program.

(b)

These funds were utilized for a loan as specified in the community development block grant award agreement, and proper loan documents were prepared and executed. As the funds are repaid to the county, the board of county commissioners will use these funds to directly construct or provide or secure loans to construct buildings for other new or expanding industries within the county.

(c)

The funds referred to as program income, including interest earned, are subject to the requirements of the Housing and Community Development Act of 1974, as amended; OMB Circular A-102; 24 CFR 570; F.A.C. Chapter 9B-43; HUD Policy Index Memorandums 3-15, 3-18, 3-31, and 3-33; and HUD CPD Notice 89-42. Furthermore, that program income which is received after the grant generating the program income has been administratively closed out is not subject to such act, notwithstanding any subsequent participation in any other community development block grant or any other community development block grant which may be in effect at the time of administrative closeout of the grant generating the program income.

(Ord. No. 90-55, § 2, 10-25-90)