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R2002-192 AUTHORIZING DEVELOPMENT AGREEMENT
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R2002-192 AUTHORIZING DEVELOPMENT AGREEMENT
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1/14/2016 2:24:48 PM
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Resolution/Ordinance
Res Ord Num
R2002-192
Res Ord Title
AUTHORIZING DEVELOPMENT AGREEMENT NEAR NORTH REDEVELOPMENT PROJECT AREA - HOPE VI
Approved Date
10/7/2002
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4.3 DHA Site Design Obligations. The DHA will work with the Developer to finalize <br /> the Final Phase I Site Plan for submission to the City. Consistent with Section 4.12 and 4.13,DHA <br /> will provide letters of support and/or respond affirmatively to other reasonable support requests <br /> regarding Developer's submission of an amendment to the PD for the Phase I Site. <br /> 4.4 DHA Phase I Homeownership Obligations.DHA and the Developer agree that it is <br /> important to the success of the Phase I Homeownership Component to reduce the cost of production <br /> and purchase of the homeownership units. Accordingly, DHA agrees to provide funding to the <br /> Developer and/or individual homebuyers in connection with the Phase I Homeownership Component <br /> consistent with an approved Homeownership Plan, applicable HUD regulations and the <br /> Revitalization Budget. <br /> 4.5 Access to Phase I Site. Prior to transferring Title to the Phase I Site (or portions <br /> thereo fl pursuant to this Agreement, DHA hereby provides to Developer and its Contractors a <br /> revocable license entitling them to full access to the DHA Parcels and City Parcels to which it has <br /> acquired title, including buildings and improvements thereon, rights-of-way and easements for <br /> access thereto, subject to preexisting rights of other parties, if any. <br /> 4.6 Reserved. <br /> 4.7 HUD Submissions. DHA in cooperation with Developer shall be responsible for <br /> timely approval,preparation and/or prosecuting all required submissions to HUD,unless otherwise <br /> agreed to by the Parties. Developer shall manage the HUD submissions process so that all <br /> documents comply with the Revitalization schedule set forth in this Agreement. Developer shall <br /> submit to the DHA all required HUD information and shall reasonably cooperate with DHA in <br /> preparation of submission materials in accordance with submission and Revitalization timetables. <br /> Required submissions to HLTD include but are not limited to submission of the Revitalization Plan, <br /> Mixed-Finance Proposals,Non-Authority Mixed-Finance Evidentiaries and related submissions,any <br /> Homeownership Plans,and any Acquisition and Disposition Applications. Unless otherwise detailed <br /> in this Agreement,the Parties shall not incur additional material out-of-pocket costs for preparation <br /> of materials that are not their responsibility. Information required for DHA submissions do not <br /> constitute additional material out-of-pocket costs to the Developer or to the City;provided,however, <br /> in regard to the City,the City has such information in its possession. Except as otherwise indicated <br /> in this Agreement,each of the Parties shall be responsible for the cost and expense of preparing their <br /> own documents,which include but are not limited to evidentiaries. DHA shall not be responsible for <br /> costs and expenses of Owner Entity, loan, and tax credit documents. Developer shall bear the sole <br /> cost and expense of completing the Mixed-Finance Proposal,Evidentiaxies,any and all Acquisition <br /> Applications, and any and all Disposition Applications,which shall be reviewed by DHA and then <br /> submitted by DHA to HUD. The Developer may charge certain third-party costs in connection with <br /> the preparation of HUD submissions in accordance with and subject to HUD's "Cost Control and <br /> Safe Harbor Standards for Mixed-Finance Rental Development," including, specifically, as such <br /> HUD standards relate to Developer's legal costs, as a project cost. DHA shall keep Developer and <br /> the City informed of developments regarding such submissions. DHA shall also be responsible for <br /> preparing,submitting and making good faith efforts to obtain HUD's approval of DHA's Five-Year <br /> Decatur Housing Authority Near North Impact Area Development Agreement <br /> Page 20 <br />
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