R97-01 AUTHORIZING AGREEMENT - Laserfiche WebLink

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' � ` E. The CICD shall prepare, and submit to the City for its approval, an annual budget for the DITC which shall include along with estimated management, operation and maintenance expense a specific provision for long term maintenance items. F. The CICD shall provide for project management and operation and for the maintenance of the common use areas and facilities of the DITC. G. The Business and Downtown Committee shall meet to review the operating aspects of the incubator and may direct changes to the operation and may malce recommendations for contractual changes to the City Council, and Executive Board. � II. Actions by thP Cit; A. The City shall reasonably cooperate with the CICD in carrying out the project and shall allocate to the CICD any gifts or grants received by it intended for use in the DITC. The City will initially assist with snow removal, grounds keeping, major building maintenance, and insurance. It shall be the intent, however, for rents collected to cover the costs of these items. C. Activi The CICD will be responsible for economic development loan programs. I. Actions by the CICD A The CICD shall be responsible for administering, managing and directing the Revolving Loan Fund, the Economic Development Loan Fund, the Small and Niir►ority Loan Fund and any other loan funds that CICD and the City agree are beneficial to the City of Decatur. The funds shall be administered to according to HUD, CDBG, EDA and DCCA regulations. B. The CICD shall be responsible for the loan services and collection of each loan. C. The CICD shall keep accurate books of account which it shall have annually audited by independent accountants and shall furnish a report thereof to the City. II. Actions by the City A. The City sha11 reasonably cooperate with the CICD and provide timely copies of any new regulations affecting progams. 3