§ 11.09.040. Revolving fund for rehabilitation loans.

(a) There is hereby created a revolving fund in Clark County for the issuance of rehabilitation loans.

(b)

The original monetary allocation for the fund shall consist of three hundred fifty-eight thousand eight hundred dollars from the following sources: Clark County general fund, one hundred thirty-three thousand eight hundred dollars; federal grants, two hundred twenty-five thousand dollars.

(c)

Additional moneys may be allocated to the fund upon resolution of the board. Moneys may be allocated from the county's general fund, state or federal grants, gifts or bequests, or any other sources which may permissibly be used for the purposes of this chapter. Any such resolution shall specify the source of the additional funds allocated.

(d)

All money received in payment on any rehabilitation loan and any fees collected for administration of the rehabilitation loan program shall be deposited in the fund to be made available for future loans.

(e)

In addition to using the fund for issuing rehabilitation loans, and for administrative fees, the division may use the fund for implementation fees. Implementation fees are those fees charged by the county in meeting federal, state, and local government requirements that are inherent in those governmental housing programs, which may include, but are not limited to, appraisals, inspections, work write-ups, job supervision and coordination.

(Ord. 2262 § 1 (part), 1999)