The administration of the Student Loan Assistance Program shall be through and by the CIC. In order to qualify for a grant, an Eligible Person shall submit an application to the Treasurer/Fiscal Officer, including verifying documentation including, but not necessarily limited to, proof of a bachelors or nursing degree or greater (including, but not necessarily limited to, any masters or doctoral degree) from a four-year accredited college or university, proof of home ownership in the Village, proof of the arm's length purchase price for said home, proof of domicile within the Village, proof of the existence of current and outstanding student loan debt, and such other documentation or proof as may be required by the Treasurer/Fiscal Officer. The Treasurer/Fiscal Officer shall be authorized to develop additional guidelines or regulations governing the Student Loan Assistance Grant Program application process and administration thereof. The Treasurer/Fiscal Officer shall require proof of continuing eligibility and satisfaction of the eligibility criteria upon or after any vesting date. Payment of grant funds shall be by check issued by the CIC to the Eligible Person following determination by the Treasurer/Fiscal Officer of the Eligible Person's satisfaction of all eligibility criteria as of any given vesting date.
(Ord. 2020-24. Passed 5-5-20.)