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HOME PROGRAM- 1999-2000 <br /> COMMUNITY HOUSING DEVELOPMENT ORGANIZATION(CHDO)AGREEMENT <br /> This A reement entered into b and between the Ci of Decatur, Illinois, hereinafter called the <br /> g Y tY <br /> "City", and Neighborhood Housing Development Corporation, organized under the laws of the <br /> State of Illinois, hereinafter called "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 projects; and whereas NHDC has been identified as a <br /> CHDO, subject to the terms and conditions stated below; and whereas NHDC submitted a <br /> proposal dated 4/10/00 to rehabilitate units of housing and requested a grant of HOME funds not <br /> to exceed $64,643 to fund the activity under the stated proposal. <br /> NOW, THEREFORE, the parties in consideration tliereto mutually agree and convenant as <br /> follows: <br /> 1. NHDC may receive up to $64,650 from the City under the HOME Program to <br /> implement the proposed rehabilitation. The proposed funding will be dispersed <br /> based upon actual project expenditures, for a total not to exceed the grant amount <br /> of$64,650. In addition to this,NHDC may receive up to $21,250 for operating <br /> expenses. <br /> 2. NHDC shall use the funds as outlined in the proposal dated 4/10/00 for <br /> eligible costs of predevelopment, acquisition, rehabilitation, soft costs and other <br /> eligible items associated with the projects. All additional sources of funds for the <br /> project must be confirmed prior to the start of the project. ' <br /> 3. NHDC shall provide the City with monthly progress reports and monthly financial <br /> reports. <br /> a. Monthly reports shall be submitted to the City by the fifth(Sth)working day <br /> of the succeeding calendar month. <br /> b. Reimbursements to NHDC will be made upon receipt by the City of the <br /> monthly progress and financial reports and all supporting documentation. <br /> Supporting documentation shall include, but not be limited to: <br /> 1) Lien wavers, canceled checks and receipts for payment. <br /> -1- <br />