[Ord. No. 15-27 §1, 10-12-2015]
The Finance Department is authorized to administer a financial assistance program related to the implementation of the Fats, Oils, Grease and Sand (FOGS) project detailed in Code Section 715.190.
Council may authorize use of the financial assistance program by resolution for projects, activities or work (actions) for which funds have been or will be set aside in the budget or by amendment to the budget. The department involved with the actions shall provide a written recommendation outlining the public health and safety issues involved in the actions and the need to assure that the actions can be accomplished in a timely manner through use of the financial assistance program. Upon approval of the Director of Finance and the City Administrator of the recommendation and upon presentation to and approval of the use of the financial assistance program by Council resolution above, the recommending department will be authorized to use the financial assistance program.
The Director of Finance is authorized to promulgate rules and regulations to implement the financial assistance program, subject to approval by the City Administrator and notice to the City Council. Such rules and regulations shall become effective twenty (20) days after they have been filed with the City Clerk, with notice thereof to the City Council. The rules and regulations may be amended using this procedure.
The rules and regulations shall include, but not be limited to, the following criteria for applicants desiring to participate in the program:
A requirement for a description of the actions to be financed pursuant to this program. The actions shall be by individuals or entities with a valid business license issued by the City of Republic or by individuals or entities exempt from a business license requirement, and all necessary permits to perform such actions must be obtained. The property owner or an authorized agent must submit bids for the actions to the City from two (2) licensed businesses before performance of the actions and subject to approval of the bids by the City.
For individuals or entities to be eligible for the program, the individual or entity shall be current on all sums due the City and, if applicable, shall provide a no-tax-due letter from the State of Missouri and shall have a current City business license.
Disbursements of financial assistance to participants shall be by check payable jointly to the participant and the business that performs the actions after the actions are satisfactorily completed, inspected and accepted by the City.
The maximum amount of any financial assistance for the performance of the FOGS project shall be one hundred percent (100%) up to one thousand dollars ($1,000.00) and fifty percent (50%) of any amount beyond one thousand dollars ($1,000.00) with the total dollar amount of the loan not to exceed five thousand dollars ($5,000.00). The total amount of financial assistance will be repaid in equal monthly payments over a term not to exceed thirty-six (36) months at an interest rate of two percent (2%). Participants shall be required to execute such assurances of repayment as may be required by the rules and regulations promulgated by the Finance Director. Upon Council adopting a resolution to include other actions in a financial assistance program, the resolution may include limits on the not-to-exceed percent of assistance, a not-to-exceed dollar amount, a term length and interest amount based upon the specific nature of the projects, activities or work (actions).
Notwithstanding the provisions of this Subsection, the unpaid balance of the financial assistance, together with accrued interest, shall become due and payable upon sale or transfer of such real property, whether voluntary or involuntary.
Failure to make timely repayment or to remain qualified for participation in the financial assistance program may result in and is cause for revocation of a business license in addition to such other remedies as the City may have under the program, the City Code or laws of the State of Missouri for collection of any outstanding balance due the City.