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There is hereby established a separate fund set aside for a special purpose called the Child Care Capital Fund ("Fund"). All monies contributed pursuant to the provisions of Section 414.1et seq., and all other monies from the City's General Fund or from contributions from third parties designated for the fund shall be deposited in the Fund. All monies in the fund shall be used solely to increase and/or improve the supply of child care facilities affordable to households of low and moderate income; except that monies from the fund shall be used by the Director to fund in a timely manner any nexus study required to demonstrate the relationship between commercial development projects and child care demand as described in Section 414.1. The Fund shall be administered by the Director, who shall adopt rules and regulations governing the disposition of the Fund which are consistent with Section 414.1et seq. Such rules and regulations shall be subject to approval by resolution of the Board of Supervisors.
(Added by Ord. 108-10, File No. 091275, App. 5/25/2010; Ord. 55-11, File No. 101523, App. 3/23/2011)