There shall be deposited into the community development fund all moneys received from the United States of America under the Housing and Community Development Act of 1974. All moneys deposited into the community development fund shall be expended for the primary objective of the community development program as authorized by the Act based on appropriations in the operating budget and capital budget ordinances. The primary objective is the development of viable urban communities, including decent housing and a suitable living environment and expanding economic opportunities, principally for persons of low and moderate income.
(a) This primary objective is for the support of community development activities that are directed toward the following specific objectives:
(1) The elimination of slums and blight and the prevention of blighting influences and the deterioration of property and neighborhood and community facilities of importance to the welfare of the community, principally for persons of low and moderate income;
(2) The elimination of conditions that are detrimental to health, safety, and public welfare, through code enforcement, demolition, interim rehabilitation assistance, and related activities;
(3) The conservation and expansion of the nation’s housing stock to provide a decent home and a suitable living environment for all persons, but principally for those of low and moderate income;
(4) The expansion and improvement of the quantity and quality of community services, principally for persons of low and moderate income, which are essential for sound community development and for the development of viable urban communities;
(5) A more rational use of land and other natural resources and the better arrangement of residential, commercial, industrial, recreational, and other needed activity centers;
(6) The reduction of the isolation of income groups within communities and geographical areas and the promotion of an increase in the diversity and vitality of neighborhoods through the spatial deconcentration of housing opportunities for persons of lower income and the revitalization of deteriorating or deteriorated neighborhoods to attract persons of higher income; and
(7) The restoration and preservation of properties of special value for historic, architectural, or esthetic reasons.
(b) It is also the purpose of the Act to further develop a national urban growth policy by consolidating a number of complex and overlapping financial assistance programs to communities of varying sizes and needs into a consistent federal aid system that:
(1) Provides assistance on an annual basis, with maximum certainty and minimum delay, upon which communities can rely in their planning;
(2) Encourages community development activities that are consistent with comprehensive local and area-wide development planning;
(3) Furthers achievement of the national housing goal of a decent home and a suitable living environment for every American family; and
(4) Fosters the undertaking of housing and community development activities in a coordinated and mutually supportive manner.
(Sec. 5-27.2, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 6, Art. 22, § 6-22.2)