R2003-30 AUTHORIZING AGREEMENTS - Laserfiche WebLink

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� _ . HOME PROGRAM FY2002/03 COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO) AGREEMENT THIS AGREEMENT, entered into on the �I�C day of: ��/�-(�/ti.;2003 by and between the City of Decatur, Illinois, hereinafter called the "City", and Near Westside Restoration and Preservation Society, organized under the laws of the State of Illinois, hereina8er called ,�NWRAPS". WHEREAS, the City has entered into an agreement with the U.S. Department of Housing and Urban Development, hereinafter called "HIJD", for the purpose of conducting a HOME Program, and whereas the City, as a condition of receiving HOME funds must reserve fifteen percent (15%) of the funds for housing to be developed or owned by a Community Housing Development Organization,hereinafter called "CHDO", and;whereas the City may commit , additional HOME funds for CHDO operational expenses; and whereas NWRAPS has been �I identified as a CHDO, subject to the terms and conditions stated below; and whereas NWRAPS I submitted a proposal dated December 30, 2002 to conduct activities eligible under the HOME program guidelines and requested a grant of HOME funds to carry out the activities under the stated proposal. NOW, THEREFORE, the parties in consideration thereto mutually agree and covenant as follows: I. SCOPE OF SERVICE A.NWR.APS may receive up to $55.200 from the City under the HOME Program to implement the proposed activities. Funding will be dispersed based upon actual project expenditures, for a total not to exceed the grant amount. In addition to this,rdWRAPS may receive up to $15.750 for operating expenses in support of the above activities. B. NWRAPS shall use the funds as outlined in the proposal dated December 30, 2002; specifically, for eligible costs associated with rehabilitation of the property located at 434 South Monroe Street.Decatur, Illinois. C. NWRAPS shall not obligate or expend any funds under the terms of this agreement until a written Notice to Proceed is issued by the Neighborhood Services Department- Neighborhood Renewal Division of the City. II. REPORTING AND REIMBURSEMENT PROCEDURE A. Monthly Reporting. NWRAPS shall provide the City with monthly progress reports and financial reports. Monthly reports shall be submitted to the City by the tenth (l Oth)working day of the succeeding calendar month. Monthly reports shall include the status of all projects currently underway, financial expenditures to date, any anticipated revisions to 1