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1. The City agrees to reimburse the District in an amount not to exceed Two Hundred <br /> Fifty Thousand Dollars($250,000)for expenses incurred for the Project and as set <br /> forth in the project estimate(attached hereto and marked Exhibit B), specifically for: <br /> a. the purchase and installation of new park equipment and park amenities <br /> b. the purchase and installation of an additional pavilion. <br /> c. the construction of a parking lot substantially in conformance with the plan as <br /> set forth and incorporated by reference or as otherwise agreed to by the Parties <br /> in writing. <br /> 2. The City cannot disperse any grant funds until the Environmental Review is complete, <br /> and this Agreement has been executed by both parties(24 CFR Sect. 570.503 (a)).The <br /> Environmental Review shall be completed by the City and shall be executed in a timely <br /> manner. <br /> 3. The District understands this Agreement is for CDBG-CV funding. No disbursement <br /> will be made by the City unless all required reporting(including financial,and narrative <br /> reports, and source documents for CDBG-CV funded expenditures) have been <br /> submitted and approved by the City Payment may be withheld pending receipt and <br /> approval of all required documentation. <br /> 4. The District agrees to complete the Project no later than September 1,2026. <br /> 5. The City agrees to reimburse the District on a construction progress reimbursement <br /> basis upon providing proof of payment for items related to the project. <br /> 6. The District shall be responsible for expending funds in a manner satisfactory to the <br /> City and substantially consistent with any standards and regulations that are specified <br /> in this Agreement and adherence to the same is a condition of providing these funds. <br /> 7. The District agrees to expend the total amount of CDBG-CV funds covered in this <br /> Agreement,solely for the agreed upon activities and in accordance with the conditions <br /> outlined in this Agreement in Exhibit B. <br /> a. Within thirty (30) days after the closing date of this Agreement, the District <br /> shall submit to the City expenditure reports and documentation of all expenses <br /> or encumbrances during the period covered by this Agreement. The City will <br /> then compare these expenditures with the amount of disbursements issued to <br /> the District by the City. Disbursement of any final payment, if any, under the <br /> Agreement shall not be made until such a comparison has been completed to <br /> the city's satisfaction. <br /> 2 <br />