(1) It is the intent of this Council that the goals, policies, requirements, and procedures prescribed by this Chapter shall apply to funds which the City receives under the Housing and Community Development Act of 1974, as amended, for Community Development funding year ("CD Year") VIII and any CD year thereafter. The requirements of Section 21-1106 shall apply to all previous CD year funds.

(2) To the extent the Office of Housing and Community Development (O.H.C.D.), acting on behalf of the City, has performed an obligation required by this Chapter for CD Year VIII prior to the enactment of this Chapter, the City shall be considered in compliance with this Chapter.