Indianapolis-Marion County Revised Code § 135-781 Brownfield Redevelopment Fund created.
Sec. 135-781. - Brownfield Redevelopment Fund created.
(a) There is hereby created a special fund, to be designated as the "Brownfield Redevelopment Fund". The fund shall be a subfund of the redevelopment fund.
(b) The purpose of this fund is to comply with financial reporting requirements and provide revenue for expenses relating to brownfield cleanup and redevelopment carried out by the Brownfield Redevelopment Section of the Department of Metropolitan Development. Eligible expenses include but are not limited to salaries and administrative costs for Brownfield Redevelopment Section Program staff.
(c) The controller shall deposit in the Brownfield Redevelopment Fund any proceeds resulting from or related to the pursuit of brownfield remediation, including but not limited to legal settlements, insurance proceeds, revolving loan proceeds, and other revenue generated by the Brownfield Redevelopment Section.
(d) Following the creation of this fund, the controller shall deposit a minimum of $97,000.00 from the Indianapolis Supplemental Environmental Project account managed by the Indiana Finance Authority.
(e) This fund shall be a continuing, non-reverting fund, with all balances remaining therein at the end of the year, and such balances shall not revert to the city or county general funds. No moneys derived from property taxes shall be deposited into this fund.
(f) Moneys from this fund shall be appropriated and expended in accordance with the procedures for expenditures of public funds.
(G.O. 27, 2013, § 1)