§ 138.08. Property Rejuvenation Fund  


Latest version.
  • When the fire insurance proceeds received under the authority of division (g) of Section 3103.01 of the Codified Ordinances of Cleveland, Ohio, 1976, and RC 3929.86 are unclaimed and the City has complied with all relevant procedures and laws regarding unclaimed funds, those funds shall be placed in Fund 10-811, the Property Rejuvenation Fund and disbursed to the appropriate fund, to be used for demolition, property clean-up, maintenance, or rehabilitation under programs administered by the Departments of Community Development and Building and Housing. The funds may be granted or loaned to other persons or entities or may be used directly by the City. The Property Rejuvenation Fund shall be administered under rules and regulations written by the Directors of Community Development and Building and Housing and submitted to Council for adoption. The rules and regulations shall provide that, to the extent practicable, the funds shall be used in the geographic area of the fire-damaged property that resulted in the collection of the funds. The funds in the Property Rejuvenation Fund are appropriated for the purposes stated in this ordinance and in the rules and regulations referred to above.

    Note: Ordinance No. 2154-05, passed December 5, 2005, authorizes the continuation of the Department of Building and Housing. (BOC Res. No. 20-06. Adopted 1-18-06)

(Ord. No. 951-04. Passed 10-11-04, eff. 10-13-04)