District of Columbia § 42-2521 Negotiated Employee Affordable Home Purchase Fund.

District of Columbia Statutes

§ 42-2521 — Negotiated Employee Affordable Home Purchase Fund.

District of Columbia·Title 42 Real Property.·Ch. 25 District Government Employee Housing Assistance.·Subch. II Negotiated Employee Affordable Housing.

(a)There is established as a special fund the Negotiated Employee Affordable Home Purchase Fund ("Fund"), which shall be administered by the Department of Housing and Community Development in accordance with subsection (c) of this section.

(b)There shall be deposited into the Fund:

(1)Amounts the District is required to allocate pursuant to a collective bargaining agreement to fund the Negotiated Employee Affordable Home Purchase Program ("NEAHP Program") that is administered by the Department of Housing and Community Development and the Office of Labor Relations and Collective Bargaining with the assistance of the Greater Washington Urban League, Inc.; and

(2)Any required repayment to the District of a financial award made through the NEAHP Program.

(c)The Fund shall be used

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(a) There is established as a special fund the Negotiated Employee Affordable Home Purchase Fund ("Fund"), which shall be administered by the Department of Housing and Community Development in accordance with subsection (c) of this section.

(b) There shall be deposited into the Fund:

(1) Amounts the District is required to allocate pursuant to a collective bargaining agreement to fund the Negotiated Employee Affordable Home Purchase Program ("NEAHP Program") that is administered by the Department of Housing and Community Development and the Office of Labor Relations and Collective Bargaining with the assistance of the Greater Washington Urban League, Inc.; and

(2) Any required repayment to the District of a financial award made through the NEAHP Program.

(c) The Fund shall be used to provide financial assistance to District government employees pursuant to the terms of the applicable collective bargaining agreement and the NEAHP Program.

(1) The money deposited into the Fund shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.

(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.

District of Columbia § 42-2521 (Negotiated Employee Affordable Home Purchase Fund.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.