R2002-14 AUTHORIZING AGREEMENTS - Laserfiche WebLink

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demonstrate project eligibility and approval, all project closeout requirements, financial and payout documentation, and such other information as deemed necessary. Records shall be maintained for at least five years after final project closeout. All records with respect to any matters covered by this agreement shall be made available to the City, grantor agency, their designees or the Federal Government, at any time during normal business hours, as often as the City or grantor agency deems necessary, to audit, examine, and make excerpts or transcripts of all relevant data. N. OPERATING EXPENSES As stated in item I, NHDC shall receive up to $16,625.00 for operating expenses. Said expenses may include salaries, wages,benefits, and other employee compensation; employee education, training, and travel;rent and utilities; communication costs; taxes and insurance; and equipment,materials and supplies. The City shall maintain a separate account for said operating expenses, and NHDC shall request payment for these expenses separate from the project expenses. Operating expenses must be expended within 24 months from the date of this agreement or they will be forfeited by NHDC and revert to the City of Decatur's general HOME allocation. V. PROJECT REQUIIZEMENTS A. Selection NHDC shall have the discretion to select appropriate projects as identified in its proposal dated December 7. 2001, and as subsequently determined by its Board of Directors; and to set policies associated with the development that are not in conflict with those identified in this Agreement. NHDC shall submit all projects to the City for approval. The proposal should include: project location and description;purchase agreement or proof of control of the property; title insurance binder when ownership is secured; sources and uses development budget; proposed construction schedule; and construction/rehabilitation cost estimate and breakdown. NHDC shall submit documentation to the City for approval of any changes in the project including location, projected budget needs, etc. B. Approval The City shall submit each project for environmental and historical preservation review as needed. The City shall review each proposal for consistency with program objectives, construction budget estimates, and other elements as deemed necessary. The City shall inform NHDC in writing in not more than three weeks after receipt of the proposal as to its approval of the project. NHDC shall not obligate any of the HOME funds budgeted for the project until written approval is received from the City. 3