(A) There is hereby established a Redevelopment Education Fund 0296 for the purpose of accounting for the receipts from property tax abatement imposed fees, and disbursements for training and education purposes.
(B) Monies deposited in said Fund shall be used for worker training and education purposes only.
(C) Monies from said Fund may be disbursed only on approved claims allowed by the City Redevelopment Board of Commissioners.
(D) Said fund shall be perpetual in nature; however, should the Fund terminate for any lawful reason, any balance of said Fund shall be disbursed to an economic development agency or government entity.
(Ord. 17-0033, passed 12-20-2017)