(A) Metro Government's Division of Budget and Finance or that Division's successor shall establish the Youth Housing Fund (the "fund") as a separate, revolving account within the Office of Resilience and Community Services or that department's successor. Moneys in the fund shall be distributed exclusively for the public purpose of providing housing to homeless young adults, ages 18 to 24. For the purposes of this section, "homeless" is as defined in 24 C.F.R. § 91.5.
(B) The fund shall consist of:
(1) Fines collected under LMCO § 121.12;
(2) Appropriations of public funds from time to time by Metro Council;
(3) Grants, donations, or bequests from federal and state governments, corporations, not-for-profit organizations, foundations, individuals, or other entities; or
(4) Any other moneys that may be made available to accomplish the public purpose of the fund.
(C) (1) Any moneys remaining in the fund at the close of the fiscal year shall not lapse but shall be carried forward into the succeeding fiscal year to be used for the purposes set forth in this section. Any interest earnings on moneys in the fund shall become a part of the fund and shall not lapse to the general fund.
(2) Metro Government is hereby authorized to apply for and accept grants and donations to the fund. Monies in the fund are hereby appropriated for the purposes set forth in this section. The Office of Resilience and Community Services or it's successor shall promulgate rules, regulations and guidelines for the distribution of the fund for the public purpose of the fund.
(Lou. Metro Ord. No. 16-2022, approved 2-28- 2022)