Participating parties may apply for financing pursuant to this chapter by contacting the community development director or other officer or employee of the city designated by the community development director. Each applicant shall supply to the satisfaction of the community development director or such officer or employee of the participating party and the feasibility of the proposed project, including an estimate of the maximum amount of financing to be required, a description or itemization of the costs of the proposed project, and a written agreement to pay all administrative expenses for the proposed project. The provisions of this section shall not apply to any financing approved by resolution of the council adopted prior to the date of adoption of the ordinance codified in this chapter. (Ord. 1047 (part), 1985)