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(a) All housing impact fees or other funds collected under this chapter shall be deposited into the city's commercial and residential housing funds.
(b) The monies in the commercial and residential housing funds and all earnings from investment of the moneys in the funds shall be expended exclusively to provide housing affordable to very low income, lower income, and moderate income households in the city, consistent with the goals and policies contained in the city's housing element and for administration and compliance monitoring of the affordable housing program.
(Ord. 5408 § 3 (part), 2017)