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R2021-15 Resolution Authorizing Acceptance and Approval of a Strong Community Grant Agreement with Illinois Housing Development Authority (IHDA)
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R2021-15 Resolution Authorizing Acceptance and Approval of a Strong Community Grant Agreement with Illinois Housing Development Authority (IHDA)
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4/13/2021 1:52:18 PM
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2/2/2021 4:12:40 PM
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Resolution/Ordinance
Res Ord Num
R2021-15
Res Ord Title
R2021-15 Resolution Authorizing Acceptance and Approval of a Strong Community Grant Agreement with Illinois Housing Development Authority (IHDA)
Department
Econ and Com Dev
Approved Date
2/1/2021
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DocuSign Envelope ID:2FF3C179-7849-4BE0-8458-00933C3F0818 <br /> Agreement void if this certification is false or if Recipient or an affiliate later becomes <br /> delinquent and has not entered into a deferred payment plan to pay off the debt. <br /> d. Recipient has satisfied and will continue to satisfy all terms, conditions, and <br /> covenants of and has not suffered or will suffer any event of default of any agreement, <br /> contract or requirement of the Authority, HUD, the State, or any political subdivision <br /> thereof. <br /> e. Recipient has not been convicted of bribery or attempting to bribe an officer or <br /> employee of the State in that officer's or employee's official capacity; nor has it made an <br /> admission of guilt of such conduct which is a matter of record but has not been prosecuted <br /> for such conduct. In addition, if Recipient has been convicted of a felony, as least five (5) <br /> years have passed after the date of completion of the sentence for such felony, unless no <br /> person held responsible by a prosecutor's office for the facts upon which the conviction <br /> was based continues to have any involvement with the business. <br /> L Recipient will at all times,in the performance of this Agreement, comply with all <br /> applicable federal, state, and local laws and regulations. <br /> g.Recipient shall obtain a fidelity bond coverage or honesty insurance in an amount <br /> that is at least equal to the lesser of(a) the Funds awarded, or (b) $100,000.00 with the <br /> Authority named as an additional insured. <br /> h. Recipient shall provide wire instructions or ACH deposit instructions for the <br /> Bank Account (as defined in Paragraph 7.f hereof). <br /> i. Recipient shall perform any other functions that the Authority may reasonably <br /> require. <br /> The Authority reserves the right to assess the Recipient's performance of the Project at all <br /> times throughout the term of this Agreement. If the Authority determines, in its sole discretion, <br /> that the Recipient's performance of the Project is not satisfactory or that the Project is not yielding <br /> satisfactory results for the operation of the Strong Communities Program,the Authority shall have <br /> the right to terminate this Agreement pursuant to Paragraph 10 hereof. <br /> 6. Additional Covenants. The Recipient further certifies under oath, covenants and <br /> agrees that,to the best of Recipient's knowledge,information and belief,(i)all representations and <br /> warranties of the Recipient contained in this Agreement and the other Fund Documents are true, <br /> accurate and complete as of the date hereof and shall be true, accurate and complete at the time of <br /> the Disbursement; (ii) that the Funds shall be used only for the purposes described in this <br /> Agreement; and (iii) that the award of Funds is conditioned upon the certification as set forth in <br /> this Paragraph 6. <br /> 7. Disbursement of Funds. Provided that adequate funds have been appropriated or <br /> directed to the Authority to fulfill its obligations under this Agreement,the Authority will authorize <br /> the Disbursements as follows: <br /> 3 <br />
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