(e) Revolving fund.
(1) There is created a revolving fund for the purpose of supporting the cost of repairs
and other corrective action or demolition made by the enforcing officer pursuant to
this section. Into this fund shall be paid:
(i) All civil penalties collected for violations of this chapter pursuant to § 45-24.3-18.
(ii) All license fees collected pursuant to this chapter.
(iii) All judgments collected in actions to recover the costs of repair and other corrective
action and demolition, pursuant to this section.
(iv) Any other revenues that the corporate unit may from time to time authorize to be paid
into this fund.
(v) All donations and grants designed to promote the purposes of this chapter from public
or private sources. The enforcing officer is declared to be the authorized agency
of the corporate unit to apply for and receive all grants, loans, and gifts of funds
to promote the purposes of this chapter.
(2) Notwithstanding anything to the contrary in this subsection, the corporate unit is
hereby authorized to select from a wide array of vendors, contractors and subcontractors,
and third-party administrators to administer a loan program or loan programs utilizing
the revolving fund to assist qualifying owners, operators, and agents with the cost
of repairs and other corrective action or demolition. If the plan includes the purchase
of professional assistance, an appropriate contract shall be prepared and local purchasing
policies shall be followed.