§ 2-29-154. Southwest county improvement trust fund.

(a)

There is hereby established a southwest county improvement trust fund. Moneys deposited into the trust fund shall be used by the district for the purposes authorized in subsection 2-29-154(c). The annual funding of the southwest county improvement trust fund shall be in an amount not less than an amount equal to fifty (50) per cent of the tax increment collected by the county in the district.

(b)

The county shall, by February 1 of each year in which the tax increment is a positive number, appropriate to such fund an amount equal to the tax increment as defined and determined in [section] 2-29-152 accruing to the county.

(c)

Moneys in the trust fund may be used from time to time for the following purposes:

(1)

To undertake and carry out redevelopment and related activities within the district, which may include:

i.

Acquisition of property by purchase, lease, option, gift, grant, bequest, devise, or other voluntary method of acquisition.

ii.

Installation, construction, or reconstruction of streets, utilities, parks, playgrounds, street lighting, sidewalks and other public improvements necessary for carrying out redevelopment within the district.

iii.

Carrying out plans for a program of voluntary repair and rehabilitation of buildings or other improvements.

(2)

To provide, or to arrange or contract for, the furnishing or repair by any person or agency, public or private, of services, privileges, works, streets, roads, public utilities, or other facilities for or in connection with a redevelopment; to install, construct, and reconstruct streets, utilities, parks, playgrounds, and other public improvements.

(3)

To develop and implement community policing innovations and to fund enhanced law enforcement services.

(4)

To provide for the expenditure of funds for activities to enhance and promote development and redevelopment for the long term growth in the district.

(5)

To fund economic development activities within the district authorized pursuant to Section 125.045, Florida Statutes.

(6)

To fund the reconstruction, maintenance and completion of county-owned capital infrastructure improvements to support future growth within the district.

(7)

Administrative and overhead expenses of the district or the county necessary or incidental to the implementation of this article XIV.

(8)

Transfer of moneys to the general fund of the county to be used for any lawful public purpose, upon a finding of the board that such moneys are not needed for the activities authorized pursuant to this article.

(d)

The county shall use the remaining funds collected in the areas formerly included within the county's south county community redevelopment area and the 141 Street west community redevelopment area, to maintain ongoing operating programs and activities authorized pursuant to section 2-29-154, and in accordance with Ordinance No. 02-69 and Ordinance No. 02-67, respectively, for projects within their boundaries.

(e)

The county shall establish a separate subaccount for each CRA where the remaining funds as of September 30, 2014, identified in subsection 2-29-154(d) shall be secured. The use of these funds shall be for maintaining ongoing programs and activities authorized pursuant to section 2-29-154, and in accordance with applicable law.

(f)

At such time that the funds identified in subsection 2-29-154(e) have been depleted, the district shall continue to fund those ongoing operational program cost.

(Ord. No. 14-28, § 3(Exh. A, § 2-29-144), 6-3-14)