Laserfiche WebLink
IV. PROJECT REQUIREMENTS <br /> A. Affordability Requirements <br /> NWRAPS agrees that it will adhere to the requirements stated at 24 CFR Subpart F for the <br /> use of HOME funds for acquisition and rehabilitation housing projects. Specifically, <br /> HOME-assisted units in a housing project must be occupied only by households that are <br /> eligible as low to moderate-income households, and must meet requirements to qualify as <br /> affordable housing including maximum property value, nondiscrimination, affordability <br /> periods, and compliance with property standards. The sale price for HOME-assisted units <br /> shall not to exceed 95 percent of the area median purchase price and not exceed the <br /> maximum HOME subsidy level as described in Section 221 (D) 3 established by the U.S. <br /> Department of Housing and Urban Development for the Decatur. If any of the housing units <br /> do not continue to meet the entire affordability period NWRAPS shall reimburse the City of <br /> Decatur for the entire amount of the HOME funding provided for those units. A <br /> lien/encumbrance shall be place on the HOME-assisted units for the duration of the <br /> affordability period to enforce this provision. <br /> B. Completion <br /> The project proposal (See attachment A) includes a schedule for completion in a timely <br /> manner. The schedule shall include dates of major construction milestones and target <br /> completion date. The City will monitor progress on the project to ensure that the schedule is <br /> being maintained. Any extensions to the project schedule must be explained to the City in <br /> writing. This contract shall not extend beyond June 21, 2011 (final possible date for <br /> expenditure of funds). The City reserves the right to suspend all or any payouts of HOME <br /> funding. NWRAPS may be restricted from participating in any new HOME or CDBG <br /> funded projects through the City of Decatur. <br /> C. Property Standards <br /> NWRAPS shall ensure that all housing it rehabilitates with HOME funds meets all <br /> applicable local codes, the Illinois Accessibility Code, HUD Housing Quality Standards <br /> (HQS), ordinances, and zoning ordinances at the time of project completion. NWR.APS <br /> shall comply with the standards set forth by the City of Decatur for either new construction <br /> or existing housing, depending on the type of project it is undertaking. Payout requests for <br /> work requiring mechanical, electrical, or plumbing inspections shall not be processed <br /> without documentation that the applicable permits have been received and required <br /> inspections conducted. <br /> D. Project Closeout/Final Reporting and Payment <br /> NWRAPS shall collect and report performance data as required by the Department of <br /> Development Services and shall submit all documentation compiled at the end of project <br /> closeout. This includes but is not limited to: objectives, outcomes and indicators. Closeout <br /> documentation shall consist of: final payout requests, proof of property ownership, title <br /> insurance, final property inspection sheets and certificate of occupancy, and a completed <br /> HOME Project Compliance Report. The City reserves the right to withhold the final ten <br /> percent (10%) of total reimbursement on a project until all closeout documentation is <br /> received. <br /> 4 <br />