The EDF shall be a revolving fund which sustains itself within five fiscal years of
its creation. Once it becomes self-sustaining, the administrators of the EDF shall
strive to maintain in it as of July 1 of each year, assets of $200,000 or such other
amount as the council shall from time to time decide on the recommendation of the
economic development board. The assets shall consist of cash, designated portions
of the fee streams generated from projects which received development incentives as
inducements scheduled to be received by the county during the fiscal year, and loan
repayments and interest from site owner-borrowers scheduled to be received by the
county during the fiscal year. The assets shall be allocated as of July 1 to either
the incentive portion of the EDF described in this division to the site creation portion
described in this division, as council may from time to time decide.
