§ 13-323. Expenditure of funds.

Monies in the redevelopment trust fund may be expended from time to time for undertakings of the Agency as described in the Plan for the following purposes, including, but not limited to:

a.

Administrative and overhead expenses necessary or incidental to the implementation of the Plan.

b.

Expenses of redevelopment planning, surveys, and financial analysis, including the reimbursement of the governing body or the Agency for such expense incurred before the Plan was approved and adopted.

c.

The acquisition of real property in the redevelopment area.

d.

The clearance and preparation of any redevelopment area for redevelopment and relocation of site occupants within or outside the community redevelopment area as provided in Section 163.370, Florida Statutes.

e.

The repayment of principal and interest or any redemption premium for loans, advances, bonds, bond anticipation notes, and any other form of indebtedness.

f.

All expenses incidental to or connected with the issuance, sale, redemption, retirement, or purchase of bonds, bond anticipation notes, or other form of indebtedness, including funding of any reserve, redemption, or other fund or account provided for in the ordinance or resolution authorizing such bonds, notes, or other form of indebtedness.

g.

The development of affordable housing within the community redevelopment area.

h.

The development of community policing innovations.

The Agency shall provide for an audit of the Fund each fiscal year and a report of such audit to be prepared by an independent certified public accountant or firm. Such report shall describe the amount and source of deposits into, and the amount and purpose of withdrawals from, the Fund during such fiscal year and the amount of principal and interest paid during such year on any indebtedness to which increment revenues are pledged and the remaining amount of such indebtedness. The Agency shall provide by registered mail a copy of the report to each taxing authority.

(Ord. No. 2014-17, § 2, 4-22-14)