[Adopted 8-19-1986]
There is hereby established a Housing Rehabilitation Fund for the Housing Rehabilitation Grant/Loan Program.
The Director of Finance shall deposit into said fund such federal grants as the Town Council shall direct be used for purposes of grants and/or loans for housing rehabilitation, all payments of interest and repayments of principal of any loans made for such housing rehabilitation and interest earned on investments of the deposited funds.
The Director of Finance shall authorize expenditures from said fund, subject to normal budgetary procedures and appropriation action by the Town Council, only for the purpose of grants and/or loans for housing rehabilitation pursuant to the requirements of federal law and the policies of the Town of West Hartford for said projects. Said authorized expenditures shall include related administrative and other expenses as are properly incurred incident to the operation of the Housing Rehabilitation Grant/Loan Program.
Each year, as part of the regular Budget Appropriation Ordinance adopted by the Town Council, the Council shall appropriate, in accordance with all applicable requirements of the Town Charter and with requirements of federal law, the unobligated fund balance, plus the anticipated loan repayments and other income, to said fund for purposes of the Housing Rehabilitation Grant/Loan Program.