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. S ' ,,• •' <br /> HOME PROGRAM FY2004 <br /> COMMUNITY HOUSING DEVELOPMENT ORGANI TION (CHDO)AGREEMENT <br /> /� /1 <br /> THIS AGREEMENT, entered into on the day of /I �G��;2"005 by and between <br /> the City of Decatur, Illinois,hereinafter called the "City", d the Neighborhood Housing <br /> Development Corporation, organized under the laws of the State of Illinois,hereinafter called <br /> "NHDC". <br /> WHEREAS, the City has entered into an agreement with the U.S. Department of Housing and <br /> Urban Development,hereinafter called "HUD", for the purpose of conducting a HOME Program, <br /> and whereas the City, as a condition of receiving HOME funds must reserve fifteen percent <br /> (15%) of the funds for housing to be developed or owned by a Community Housing <br /> Development Organization,hereinafter called "CHDO", and; whereas the City may commit <br /> additional HOME funds for CHDO operational expenses; and whereas NHDC has been <br /> identified as a CHDO, subject to the terms and conditions stated below; and whereas NHDC <br /> submitted a proposal dated December 30, 2004 to conduct activities eligible under the HOME <br /> program guidelines and requested a grant of HOME funds to carry out the activities under the <br /> stated proposal. <br /> NOW, THEREFORE,the parties in consideration thereto mutually agree and covenant as <br /> follows: <br /> I. SCOPE OF SERVICE <br /> A. NHDC may receive up to $128,000 from the City under the HOME Program to <br /> implement the proposed activities. Funding will be dispersed based upon actual project <br /> expenditures, for a total not to exceed the grant amount of$128,000. <br /> B. NHDC shall use the funds as outlined in the proposal dated December 30, 2004 and <br /> the letter dated Februarv 9, 2005; specifically, for eligible costs of pre-development, <br /> construction, soft costs and other eligible items associated with the construction of three <br /> 3-bedroom, single family homes located at lots#284, #285 and#286 of the Meadowlark <br /> Subdivision. All additional sources of funds for the project must be confirmed prior to the <br /> start of the project. <br /> C. NHDC may receive up to 21 000 in CHDO operating expenses in support of the <br /> above-referenced project. Funding will be dispersed based upon actual HOME-eligible <br /> expenditures, for a total not to exceed the grant amount of$21,000. <br /> D. N�IDC shall not obligate or expend any funds under the terms of this agreement <br /> until a written Notice to Proceed is issued by the Economic and Urban Development <br /> Deparirnent of the City. <br /> 1 <br />