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R97-01 AUTHORIZING AGREEMENT
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R97-01 AUTHORIZING AGREEMENT
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4/19/2016 4:29:47 PM
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4/19/2016 4:29:46 PM
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Resolution/Ordinance
Res Ord Num
R97-01
Res Ord Title
AUTHORIZING AGREEMENT COMMUNITY INVESTMENT CORPORATION OF DECATUR, INC. - PROFESSIONAL SERVICES
Approved Date
1/6/1997
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� ' D. The CICD will cooperate with the City of Decatur in preparing and making <br /> any reports to other parties as appropriate and necessary for activities <br /> conducted under this agreement. <br /> II. Actions by the City <br /> A The City shall conduct and complete Environmental Review Reports and <br /> H'istorical Review required for federal compliance under Title II. <br /> B. The City via the Community Development staff shall provide the monthly <br /> progess report on activities associated with the CHDO Program, <br /> repayment status, and loans in process. <br /> C. The City shall maintain all project files and legally binding documents. <br /> They shall make available to the CICD President upon request. <br /> B. A ivi <br /> The CICD will be responsible for the administration of the Decatur Industry and <br /> Technology Center(DITC) <br /> I. Actions by the CICD <br /> A. The CICD will assume responsibility for the selection of eligible tenants, <br /> use, occupancy and operations of DITC in accord with applicable <br /> regulations of the US Department of Housing and Urban Development <br />' (HUD), Community Development Block Grant Program (CDBG), the <br /> Economic Development Administration (EDA), and Illinois Department of <br /> Commerce and Commumty Affaus (DCCA), and m accord vv�th any <br /> conditions or other provisions of any loan or grant relating to the DITC. <br /> B. Rents shall be collected by the CICD and sha11 be used by it to defray the <br /> c�s�s ar:d e�g�nses of the r.zar:ageri:er.t ar.d �p�:3t:on af tl��DITC. <br /> C. The CICD shall account to the City each calendar month as to said rents <br /> and the application thereof, and of any other funds in connection with the <br /> DITC received by it, to said expenses. <br /> D. The CICD shall keep accurate books of account which it shall annually <br /> cause to be audited by independent accountants and shall furnish a report <br /> thereof to the City. <br /> 2 <br />
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