(a) The Director of Economic Development hereby is authorized to establish a schedule of and collect fees from loan and other financial assistance applicants to cover the cost of servicing loans and applications therefor under the various loan and financial assistance programs administered by the Department of Economic Development. Such fees may be refunded to applicant at the direction of the Director of Economic Development.
(b) The Director of Economic Development is hereby authorized to employ by contracts such professional services as may be required to prepare grant applications and to service loans made under the various loan and financial assistance programs administered by the Department of Economic Development, including, but not limited to, appraisal services, title insurance, survey costs, construction management, project identification materials and legal advertising. The costs of the contracts authorized herein shall be paid from the fees collected pursuant to this section.
(c) The Director of Economic Development is hereby authorized to pay a fee not to exceed five hundred dollars ($500.00) to area local development corporations that he or she determines have provided substantial assistance to applicants submitting proposals for financial assistance to the Department. The fee authorized herein shall be paid from the fees collected pursuant to this section.
(Ord. No. 2742-88. Passed 11-28-88, eff. 12-2-88)