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R2017-05 Release Annual Professional Service Contrct Payment to CICD
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R2017-05 Release Annual Professional Service Contrct Payment to CICD
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Last modified
1/20/2017 3:49:42 PM
Creation date
1/20/2017 3:49:42 PM
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Resolution/Ordinance
Res Ord Num
R2017-05
Res Ord Title
Release Annual Professional Service contract Payment to the community Investment Corporation of Decatur
Department
Finance
Approved Date
1/17/2017
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JUN-LU-UU MUR 1 � M UIfY _hIANAUtX/LII'jAL hAA Au 'ZI /4z4z/J'2 Y. <br /> D. The CICD will coop eraw 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 agreemem <br /> IL Actions by the City <br /> A. The City shall conduct and complete FirwiraravenW ReviewReports and <br /> g1storical Rmew required for federal compliance under Title 11 <br /> B. The City via the Community Development staff shall provide the monthly <br /> prOV'M *report on activities associated with the CHDO Program <br /> repayment stauuk and loam in process. <br /> C. The City shall maintain all project Eales and legally binding documents. <br /> They shall make 1tvdable to the CICD President upon request., <br /> B. Ascliyb ...... <br /> The CICD will be responsible for the administration of the Decatur Industry and <br /> Technology Center TITC} <br /> I. Actions by the CICID <br /> A. The CICD will assume responsibility for the selection of vfigiible tenants, <br /> use, occupancy and operations of DITC in accord with applicable <br /> regulations of the US Department of Housing and Urban Development <br /> (HM), Comm mity Do%Tjopment Block Grant Program (CDtG), the <br /> Economic Development Administration(RDA), and Iffinpis Department of <br /> Commerce and Commun4 Affairs (DCCA), and in. accord with 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 shall be used by it to defray the <br /> corts and exp== „r*.c r=aSement and op—a-Meor.of the DITC. <br /> C. The CICD ” account to thi City each calendar MOMh as to said rents <br /> and the application thereof and of any other funds in connection with the <br /> DITC received by it,to s!dd expenses. <br /> D. The CICD sW keep === 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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