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The Housing Asset Fund is established to receive and expend the revenues received from housing assets of the former Alhambra Redevelopment Agency by virtue of the City of Alhambra succeeding to the housing functions of the former Redevelopment Agency, per AB 1X 26. The use of such revenues is limited to housing purposes pursuant to provisions of the California Health and Safety Code.
(Ord. 4609, passed 12-10-12)