There is a historic preservation project fund. Monies in the historic preservation project fund are dedicated to financing historic preservation projects in accordance with this chapter.
(AO No. 86-47)
A. 
Grants from the historic preservation project fund may be made with assembly approval. Monies granted from the historic preservation project fund shall be used to finance historic preservation projects, and to pay the cost of identifying, initiating, negotiating and administering historic preservation projects. The design of each historic preservation project fund shall be subject to review and approval by the historic preservation board.
B. 
Historic preservation projects that may qualify for funding under this section may include, but need not be limited to, the following elements:
1. 
Acquiring historic structures.
2. 
Acquiring easements or development rights to preserve historic structures.
3. 
With respect to historic structures in which the municipality has a property interest:
a. 
Acquiring land for the relocation of such structures.
b. 
Relocating such structures.
c. 
Renovating such structures.
d. 
Landscaping the sites of such structures.
4. 
Constructing and acquiring public improvements that identify, interpret or inform the public concerning historic structures, provide public access to historic structures, or otherwise are related to the public use and enjoyment of historic structures.
5. 
Costs of planning, designing, administering and acquiring the project elements described in subsections B.1 through B.4 of this section.
6. 
Costs of planning and designing public improvements to serve historic structures.
7. 
Programs and events to educate the community concerning historic preservation and historic structures in the municipality and to promote the historic preservation in the municipality.
C. 
The methods of financing historic preservation projects may include but are not limited to:
1. 
Purchasing or leasing interests in real or personal property;
2. 
Restoring, repairing or improving real property; and
3. 
Loans or interest subsidies on loans.
D. 
The municipality may contract with any qualified entity for administration of historic preservation projects authorized under this section.
(AO No. 86-47; AO No. 86-154; AO No. 87-75; AO No. 2006-175, § 2, 1-9-2007)
The following revenues received by the municipality shall be accounted for separately from all other revenues and appropriated annually to the historic preservation project fund, provided that revenue from other sources also may be appropriated to the historic preservation project fund:
A. 
Revenue from the sale, lease or other disposition of an interest in real property whose acquisition was financed in whole or in part with monies from the historic preservation project fund.
B. 
Payments of the principal of, and interest on, loans from the historic preservation project fund.
C. 
Investment earnings on monies in the historic preservation project fund.
D. 
Donations to the historic preservation project fund from members of the public.
Revenues that are so appropriated are subject to the dedication in section 6.100.010.
(AO No. 86-47)
A. 
The operation of the historic preservation project fund shall be reviewed and reported on annually, and appropriate findings and recommendations shall be made.
B. 
The annual report shall include but not be limited to:
1. 
A financial audit of all fund bank accounts, including all income, expenditures and investments.
2. 
An inventory of interests in historic structures acquired with monies from the fund during the preceding year, including a summary of each acquisition involving the fund.
3. 
Pertinent discussion of fund operations.
4. 
Reports from historic preservation project fund grantees concerning grant-financed projects and activities.
C. 
The annual report, including any recommendations, shall be completed and submitted to the assembly not later than the last regularly scheduled assembly meeting in May of each year.
(AO No. 86-47; AO No. 87-75)