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�� . <br /> � ' HOME PROGR.AM - FY 1997 <br /> COb�I[TNITY IiOIISING DEVELOPMENT ORGANIZATION (CHDO) AGREEMENT <br /> This Agreement entered into by and between the City of Decatur, <br /> Illinois, hereinafter called the "City" , and the Neighborhood <br /> Housing Development Corporation, organized under the laws of <br /> the State of Illinois, hereinafter called "NHDC" . <br /> WHEREAS, the City has entered into an agreement with the U. S . <br /> Department of Housing and Urban Development, hereinafter called <br /> ��HUD�� , for the purpose of conducting a HOME Program, and; <br /> whereas the City, as a condition of receiving HOME funds must <br /> reserve fifteen percent (15�) of the funds for housing to be <br /> developed or owned by a Community Housing Development <br /> Organization, hereinafter called "CHDO" , and; whereas NHDC has <br /> been identified as a CHDO, subject to the terms and conditions <br /> stated below. <br /> NOW, THEREFORE, the parties in consideration thereto mutually <br /> agree and covenant as follows: <br /> 1 . NHDC may receive $57,200 . 00 from the City under the HOME <br /> Program 15� CHDO set-aside requirement and $14, 350 . 00 under the <br /> HOME Program operating fund requirement. Operating funds will <br /> be dispersed based upon project/program fund expenditures . <br /> 2 . NHDC shall use the funds for predevelopment, acquisition, <br /> rehabilitation, soft costs and other eligible items associated <br /> with the projects. <br /> 3 . NHDC shall provide the City with monthly progress reports ` <br /> and monthly financial reports . <br /> a. Monthly reports shall be submitted to the City by the <br /> fifth (5th) working day of the succeeding calendar month. <br /> b. Reimbursements to NHDC will be made upon receipt by <br /> the City of the monthly progress and financial reports and <br /> all supporting documentation. Supporting documentation <br /> shall include, but not be limited to: <br /> 1. Lien waivers, canceled checks and receipts for <br /> payment . <br /> c. NHDC shall submit Pay Requests, with proper <br /> supporting documentation, to the City on the lOth day of <br /> the month and the 25th day of the month. <br /> 1 <br />