(a) The special trust fund in the Treasury of the City of Los Angeles currently named the “Construction Services Trust Fund” is hereby renamed the “Development Services Trust Fund”, hereinafter referred to in this chapter as the “Fund”.
(b) All funds remaining in the Construction Services Trust Fund at the time the provisions of this Ordinance become effective shall be maintained in the Development Services Trust Fund.
(d) Amounts may also be contributed to the Fund by other City funds and by gifts, donations or bequests from individuals or organizations, subject to applicable local, state and federal regulations. Any appropriation to this Fund by the City Council or the Mayor shall also be deposited into the Fund.
(e) All interest or other earnings attributable to money in the Fund shall be credited to the Fund and shall be devoted to the purposes set forth in this article.
(f) Expenditures from the Fund shall be made for the design, construction and equipping of the City’s Development Services Centers and their functional support services, as well as any incidental expenses associated with said projects, such as the non-recurring expenses for the equipping of temporary quarters to house employees displaced during the construction period and repaying advances from any other fund.
(g) Funds shall not be used for reimbursement of administrative costs, except for those costs directly attributed to the portion of credit card fees used to pay for Development Services Centers Surcharge.
(h) Unencumbered funds remaining in the Fund will not revert to the Reserve Fund at the end of a fiscal year.
(i) The Mayor is authorized to make transfers among accounts that may be established within the Fund in an amount not to exceed $50,000 per transfer.
(j) The Department of Building and Safety shall be responsible for maintaining the accounting records relating to the Fund and shall prepare monthly reports on the status of the Fund that shall be filed with the City Administrative Officer.
(k) The City Administrative Officer is authorized to establish appropriate procedures to carry out the provisions of this chapter.
(l) All allocations and expenditures from the Fund shall first be submitted to the Planning and Land Use Management Committee of the City Council for its review and recommendation. Any recommendation by the Planning and Land Use Management Committee shall be considered for approval by City Council.
SECTION HISTORY
Added by Ord. No. 157,384, Eff. 2-24-83.
Amended by: Subsec. (g) Added by Ord. No. 166,518, Eff. 1-24-91; Chapter and Section, Ord. No. 172,189, Eff. 10-5-98; Ord. No. 173,305, Eff. 6-30-00, Oper. 7-1-00; In Entirety, Ord. No. 184,548, Eff. 12-11-16.