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17.40,070 Annual Adjustment of the Fee. <br /> <br /> The lower-income housing fee shall annually be revised <br />effective January 1st of each year, commencing on January 1, <br />1992, by the percentage increase or decrease in the Consumer <br />Price Index for San Francisco/Oakland region. <br /> <br />17.40,080 Establishment of Lower-Income Housinq Fund. <br /> <br /> A. All fees generated pursuant to this Ordinance shall be <br /> deposited into the Lower-Income Housing Fund, and any <br /> property interest or other value contributed, including <br /> interest earned by the Fund, shall be segregated and <br /> used exclusively for the purposes provided for herein. <br /> <br /> B. The City Manager shall make a written annual report to <br /> the City Council regarding the administration of the <br /> Housing Fund, and shall present such annual report at a <br /> regular meeting of the City Council. <br /> <br /> C. Pursuant to Government Code section 66000, et seq., the <br /> City shall make findings once each fiscal year with <br /> respect to any portion of the fees remaining unexpended <br /> or uncommitted in its account five (5) or more years <br /> after the deposit of the fees to identify the purpose <br /> to which the fee is to be put and to demonstrate a <br /> reasonable relationship between the fee and the purpose <br /> for which it was charged. The findings required by <br /> this section need only be made for moneys in the <br /> possession of the City and need not be made with <br /> respect to letters of credit, bonds, or other <br /> instruments taken to secure payment of the fee at a <br /> future date. <br /> <br /> D. Any refunds shall be made pursuant to Government Code <br /> section 66001. <br /> <br /> 17.40,090 Use of Lower-Income Housinq Fund. <br /> <br /> A. Any monies generated by this Ordinance shall be used in <br /> accordance with and in support of activities to <br /> implement the City's adopted Housing Element. <br /> Activities may include, but are not limited to, land <br /> acquisition, construction, rehabilitation, <br /> subsidization, and counseling or assistance to other <br /> governmental entities, private organizations, or <br /> individuals to expand housing opportunities to lower- <br /> income households, <br /> <br /> B. Monies in the Housing Fund may be disbursed, <br /> hypothecated, collateralized, or otherwise employed for <br /> the purposes set forth herein. These purposes include, <br /> <br /> 6 <br /> <br /> <br />