Sec. 8-441. Crumbling Foundations Assistance Fund. Department of Housing application for receipt and administration of federal funds.

(b) The Department of Housing may apply for, receive and administer any federal funds, including, but not limited to, funds made available by the United States Department of Housing and Urban Development Section 108 Loan Guarantee program to assist owners of residential buildings having concrete foundations that have deteriorated due to the presence of pyrrhotite. All such federal funds received with the intent of assisting owners of residential buildings having concrete foundations that have deteriorated due to the presence of pyrrhotite shall be deposited into the Crumbling Foundations Assistance Fund established pursuant to subsection (a) of this section.