There is created and established in the treasury of the city a special fund to be called the “housing and community economic development fund” in which to develop and disburse all moneys received by the city for building demolition and repair programs, and senior citizens’ food nutrition programs and similar subsequent programs that may be set up and funded as block grant funds under Title 1 of the Community Development Act of 1974. (Ord. 3019 § 1, 1975.)