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GS-160A-456 Page 2 of 283 <br /> Community Development Block Grant money includes but is not limited to: (i) payment of principal <br /> and interest on loans made by the county using Community Development Block Grant Funds; (ii) <br /> proceeds from the lease or disposition of real property acquired with Community Development Block <br /> Grant Funds; and(iii) any late fees associated with loan or lease payments in(i) and(ii) above. The local <br /> economic development revolving loan fund set up by the city shall fund only those activities eligible <br /> under Title I of the federal Housing and Community Development Act of 1974, as amended (P.L. 93- <br /> 383), and shall meet at least one of the three national objectives of the Housing and Community <br /> Development Act. Any expiration of G.S. 143B-437.01 or G.S. 105-129.3 shall not affect this <br /> subsection as to designations of economically distressed counties made prior to its expiration. (1975, c. <br /> 435, s. 1; c. 689, s. 1; c. 879, s. 46; 1983, c. 908, s. 4; 1985, c. 665, s. 5; 1987, c. 464, s. 10; 1987 (Reg. <br /> Sess., 1988), c. 992, s. 2; 1995, c. 310, s. 3; 1995 (Reg. Sess., 1996), c. 13, s. 3.9; c. 575, s. 3; 2006-259, <br /> s. 27(b).) <br /> http://www.ncga.state.nc.us/gascripts/statutes/statutelookup.pl?statute=160A-456 8/28/2013 <br />