2151-1. Name and Purpose.
(a) Name. The Headwaters Fund (HWF) (Ord. 2289, § 1, 12/17/2002)
(b) Purpose.
(1) To use the values, principles and strategies of the County’s Comprehensive Economic Development Strategy, currently known as Prosperity! The North Coast Strategy to:
(A) Support the growth of base industry clusters and increase the number of sustainable jobs that pay near or above the median income; (Ord. 2289, § 1, 12/17/2002)
(B) Enhance the quality of life through social and environmental projects that promote healthy communities and protect and enhance the natural environment. (Ord. 2289, § 1, 12/17/2002)
(2) To manage the HWF to:
(A) Attract and leverage additional capital and grants in the local economy; (Ord. 2289, § 1, 12/17/2002)
(B) Keep the funds working in the community in perpetuity (Ord. 2289, § 1, 12/17/2002)
(C) Reflect community priorities and create maximum public benefit over the long-term; (Ord. 2289, § 1, 12/17/2002)
(D) Make the decision process objective, non-political and easy for the public to participate in and understand; (Ord. 2289, § 1, 12/17/2002)
(E) Manage the funds efficiently and cost effectively; (Ord. 2289, § 1, 12/17/2002)
(F) Track and publicize the economic, social and environmental gains. (Ord. 2289, § 1, 12/17/2002)
(c) The management objective is to maximize the amount of money working within the community providing desired benefits while preserving the Headwaters Fund principal. (Ord. 2289, § 1, 12/17/2002)