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. y • . <br /> HOME PROGR.Abi - 19 9 6 <br /> COb�IITNITY HOIISING DEVELOPMENT ORGANIZATION (CHDO) AGREEMENT <br /> This Agreement entered into by and between the City of Decatur, <br /> Illinois, hereinafter called the "City" , and the Near Westside <br /> Restoration and Preservation Society, organized under the laws <br /> of the State of Illinois, hereinafter called ��NWRAPS" . <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 ur ose of conductin a HOME Pro ram and- <br /> P P J 9 . , <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 NWRAPS <br /> has been identified as a CHDO, subject to the terms and <br /> conditions stated below. <br /> NOW, THEREFORE, the parties in consideration thereto mutually <br /> agree and covenant as follows : <br /> 1. NWR.APS may receive $87, 300. 00 from the City under the HOME <br /> Program 15s CHDO set-aside requirement and $14, 550 . 00 under the <br /> HOME Program operating fund requirement. Operating funds will <br /> be dispersed based upon project/program fund expenditures. <br /> 2 . NWRAPS shall use the funds for predevelopment, acquisition, , <br /> rehabilitation, soft costs and other eligible items associated I <br /> with the projects . <br /> 3 . NWRAPS 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 NWRAPS 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. NWR.APS 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 /> 4 . NWRAPS shall maintain a proper accounting system, HUD <br /> approved for the HOME funds. <br /> 1 <br />