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(a) Establishment of Fund. The Cooperative Living Opportunities for Mental Health Loan Fund (the “Fund”) is established as a category eight fund to receive any monies appropriated or donated for the purpose of expanding opportunities for people with chronic mental illness and/or substance use disorders to live in communal, non-institutional, neighborhood-based, household settings with 24-7 on call individual and household case management services (“Cooperative Living”).
(b) Use of Fund. The Fund shall be used exclusively for the purpose of providing long-term loans to nonprofit organizations to acquire, rehabilitate, and maintain residential housing under the Cooperative Living Opportunities for Mental Health Program (“Program”), as set forth in Chapter 117 of the Administrative Code.
(c) Exceptions to Fund Category. The Director of the Mayor’s Office on Housing and Community Development (“MOHCD”) shall approve all expenditures from the Fund.
(d) Administration of Fund. MOHCD shall administer a loan program under the Fund, and in such capacity shall: (1) service loan agreements; (2) receive payments for, and maintain current accounts of, principal, interest, and fees relating to the loan agreements, and redeposit them into the Fund; and, (3) allocate funds for administration associated with the operation of the Fund. MOHCD shall report annually to the Board of Supervisors on the current status of the Fund, the amounts approved for disbursement, and the number and types of new Cooperative Living units established during the preceding fiscal year.
(Added by Ord. 163-19, File No. 190573, App. 7/26/2019, Eff. 8/26/2019)