R2001-153 AUTHORIZING AGREEMENTS

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C. Completion � ' Each project proposal shall include a schedule for completion in a timely manner. The schedule shall include dates of major construction/rehabilitation milestones and target completion date. The City will review each project to determine if the length of time proposed for project completion is reasonable and, if not,will reach an acceptable agreement with NHDC. The City will monitor progress on the project to ensure that the schedule is being maintained. Any extensions to the project schedule must be explained to the City in writing. With the exception of delays caused by the City, any project which becomes more than six months behind the established schedule, without NHDC having provided an acceptable written explanation to the City, is considered delinquent. The city will then issue a letter requesting an immediate explanation and/or requesting a meeting to review the project with NHDC. If NHDC fails to either respond to the letter or to remedy the situation as agreed to in the review meeting within 30 days, the City may suspend all further payouts of HOME funding requests for that project. D. Project Closeout/Fina1 Payment 0 The Ci reserves the ri t to withhold u to the final ten ercent 10/o of total rY � P F � ) reimbursement on a project until all closeout documentation is received. Closeout documentation shall consist of: completed Property Resale Information Sheet, lien/deed restrictions, final payout requests, final property inspection sheets, and certificate of occupancy. E. Termination of Proj ect Funding The City reserves the right to suspend or terminate payment of reimbursement requests for a project in whole or in part for cause. Cause shall include the following: (1) Improper use of funds; (2) Failure to comply with the terms and conditions of this Agreement, including those specified in item C. above; (3) Failure to comply with HCTD program guidelines. The City shall notify N�IDC before any such termination takes place and allow opportunity for review and correction of problems. If termination of the project is then determined to be necessary, repayment of the total amount of HOME funds expended on the project shall be made to the City prior to the end of that cunent fiscal year. F. Property Standazds NHDC shall ensure that all housing it constructs or rehabilitates with HOME funds meets all applicable local codes, rehabilitation standards, HLTD Housing Quality Standards (HQS), ordinances, and zoning ordinances at the time of proj ect completion. NHDC shall comply with the standards set forth by the City of Decatur for either new construction or existing housing, depending on the type of project it is undertaking. Payout requests for 4