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.. �. , j�., ��P <br /> , '/2 <br /> HOME PROGRAM - 1995 <br /> COI�iTJN2TY HOIISING DEVELOPMSNT ORGANIZATION (C�O) AGREE�NT <br /> This Agreement entered into by and between the City of Decatur, <br /> Illinois, hereinafter called the "City" , and Neighborhood <br /> Housing Development Corporation, organized under the laws of <br /> the State of Illinois, hereinafter called "NFIDC" . <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 "CFIDO" , and; whereas NHDC has � <br /> been identified as a C�IDO, 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. NfIDC may receive $89 , 850 from the City under the HOME <br /> Program 15s CF�IDO set-aside requirement and $29, 950 under the <br /> HOME Program operating fund requirement. <br /> 2 . NHI�C shall use the funds for predevelopment, acquisition, <br /> � rehabilitation, soft costs and other eligible items associated <br /> with the projects. <br /> 3 . N�IDC 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 N�IDC will be made upon receipt by the , <br /> City of the monthly progress and financial reports and all <br /> supporting documentation. Supporting documentation shall <br /> include, but not be limited to: <br /> 1. Lien waivers, cancelled checks and receipts for <br /> payment. <br /> c. NHDC shall submit Pay Requests, with proper supporting <br /> documentation, to the City on the lOth day of the month and <br /> the 25th day of the month. <br /> 4 . N�IDC shall maintain a proper accounting system, HUD <br /> approved for the HOME funds . <br /> a. A separate account shall be established specifically <br /> for the HOME Program funds. <br /> 1 <br />