Laserfiche WebLink
� housing project must be occupied only by households that are eligible as low-income <br /> families, and must meet requirements to qualify as affordable housing includin ren <br /> limitations, nondiscrimination, affordabilit g t <br /> standards. The initial rents for HOME-assi ted unrts�shall b at a leve nlot toroperty <br /> established by the U.S. Department of Housing and Urban Development for the Decatur e <br /> IL MSA for the year 2005, and shall not increase more than annuall and <br /> greater than established b Y not to a level � <br /> Y HUD for that year. HOME-assisted housing units must <br /> remain affordable to low- and moderate-income persons for not less than the ap licable <br /> period for the amount of assistance provided, which is five years. If any of the housin <br /> units do not remain affordable for the entire 5-year affordability period, NHDC shall g <br /> reimburse the City of Decatur for the entire amount of the HOME funding provided fo � <br /> those units. A lien shall be place on the HOME-assisted umts for the duration of the r <br /> affordability period to enforce this provision. <br /> In addition,housing units assisted through this Agreement must be des' <br /> use by chronically homeless individuals. To the best of its abilit l�ated solely for ' <br /> through a Memorandum of Understanding with Service Providers, thNatUa 1 t naant ofre� I <br /> assisted through this Agreement throughout the 5- ear affordabilit �ts � <br /> chronically homeless individuals. y Y period are <br /> if for any reason it is unable to complylwCit the abovme re luirem ntXplanation to the City <br /> q . <br /> B. Completion <br /> The project proposal shall include a schedule for completion in a timely manner. The <br /> schedule shall include dates of major construction milestones and target completion date <br /> The City will monitor progress on the project to ensure that the schedule is bein <br /> maintained. Any extensions to the project schedule must be explained to the Ci� in <br /> writing. y <br /> C• Property Standards <br /> NHDC shall ensure that all housing it constructs with HOME <br /> local codes, the 1997 Illinois Accessibilit Code �ds meets all applicable <br /> (HQS), ordinances, and zoning ordinances at the�timeDo proj c�c�Omplet onanPa ds <br /> requests for work requiring mechanical, electrical, or plumbing inspections shally ot be <br /> processed without documentation that the a <br />, required inspections conducted. PPlicable permits have been received and <br />' D. Project CloseoutlFinal Payment <br /> The City reserves the right to withhold up to the final ten percent (10%) of total <br /> reimbursement on a project until all closeout documentation is received. Closeout <br /> documentation shall consist of final payout requests, final property inspection sheets <br /> certificate of occupancy, and a completed HOME Rental Project Compliance R ort, and <br /> eP <br /> E. Termination ofProject Funding <br /> The City reserves the right to suspend or terminate a <br /> for a project, or require reimbursement of funds alr ad ent of reimbursement requests <br /> cause. Cause shall include the following: Y paid, in whole or in part for <br /> 1• Improper use of funds; <br /> 4 <br />