Sec. 2-483.5. - [Neighborhood investment fund]

A fund is hereby created to provide repayable loans, at zero (0) percent interest, for the purpose of leveraging private investment in the acquisition and rehabilitation of blighted structures, located in areas of Fayette County that are zoned for residential use and that have been vacant for at least one (1) year. The goal of the fund is to provide more affordable housing. The Affordable Housing Governing Board shall oversee the use of this fund in conformity with section 2-479, and the Office of Affordable Housing shall provide day-to-day management of the fund in conformity with section 2-480. For the purposes of determining eligibility, "blighted" shall have the same definition as that provided in chapter 12, article IV, section 12-81.

(Ord. No. 028-2023 , § 2, 3-23-23)

Ord. No. 028-2023 , § 2, adopted March 23, 2023, set our provisions intended for use as § 2-484. To avoid duplication of section numbers and at the editor's discretion, these provisions have been included as § 2-483.5.