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A RESOLUTION RELATING TO <br />• THE DISPOSITION OF .INCOME <br />RECEIVED IN CERTAIN PROGRAMS <br />WHEREAS, this Council has previously authorized the expenditure <br />of federal Community Development Block •Grant funds for various hous- <br />ing rehabilitation and housing development programs; and <br />WHEREAS, three of those programs -- the Land Lease Program, the <br />Housing Rehabilitation Grant program, and the Home Ownership Rehab <br />(House Bank) program -- have produced or may produce income from the <br />sale or lease of properties which have benefitted from program <br />expenditures; and <br />WHEREAS, this Council considers it to have been the original <br />intention that such programs were established as "revolving" funds, <br />in order that such income might be used for the continuation of the <br />programs; now,therefore,be it <br />RESOLVED by,the Council of the City -of Charlottesville, <br />• Virginia, that: <br />1. Income received from the disposition of properties in'the <br />aforesaid three programs shall be credited respectively <br />to the following designated accounts in the Community <br />Development Block Grant Fund: <br />Land Lease Program - 14-72320 <br />Housing Rehabilitation Program - 14-72410 <br />Home Ownership Rehab (House Bank) Program - 14-72420 <br />and may thereafter be expended for the same purposes and <br />upon the same terms and conditions as funds originally <br />appropriated or allocated to such programs. <br />2. The Director of Finance and Executive Director of the <br />Charlottesville Redevelopment and Housing Authority <br />are hereby authorized and directed to take whatever steps <br />may be necessary, consistent with applicable federal <br />regulations, to implement the intention of Council <br />expressed herein. <br />0 <br />