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� � ��. <br /> HOME PROGRAM FY2002/03 <br /> COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO) AGREEMENT <br /> THIS AGREEMENT, entered into on the��G day of % 003 by and between <br /> the City of Decatur, Illinois,hereinafter called the City", and 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 Januarv 24, 2003 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 convenant as <br /> follows: <br /> I. SCOPE OF SERVICE <br /> A. NHDC may receive up to $55.200 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$55,200. In addition to this, <br /> NHDC may receive up to $19.250 for operating expenses in support of the above <br /> activities. <br /> B. NHDC shall use the funds as outlined in the proposal dated January 24, 2003; <br /> specifically, for eligible costs of pre-development, acquisition, construction, soft costs <br /> and other eligible items associated with the construction of one single family house <br /> located at lot#293 of the Meadowlark Subdivision. All additional sources of funds for the <br /> project must be confirmed prior to the start of the project. <br /> C. NHDC shall not obligate or expend any funds under the terms of this agreement <br /> until a written Notice to Proceed is issued by the Neighborhood Services Department - <br /> Neighborhood Renewal Division of the City. <br /> II. REPORTING AND REIMBURSEMENT PROCEDURE <br /> A. Monthly Reporting. <br /> NHDC shall provide the City with monthly progress reports and financial <br /> 1 <br />