2009-273B - Laserfiche WebLink

Home Browse Search

WHEREAS , DEVELOPER has agreed that $ 1 ,082,282 . 00 of the proposed activity must benefit households with household incomes not exceeding 50 percent of the Area Median Income and $ 1 ,018 ,982 . 50 of the proposed activity must benefit households with household incomes not exceeding 120 percent or the Area Median Income; and WHEREAS, this Agreement is contingent upon the award of Neighborhood Stabilization Program Community Development Block Funds from DEPARTMENT. NOW THEREFORE, in consideration of the mutual promises and covenants, the parties agree as follows: ARTICLE I — PROJECT DESCRIPTION Li DEVELOPER agrees to implement the Scope of Services described in detail in Appendix A & B . ARTICLE II — DISBURSEMENTS 2 . 1 COUNTY agrees to coordinate with DEVELOPER to expend no more than $2, 101 ,264 . 50 in Neighborhood Stabilization Program Community Development Block Grant (CDBG) funds, as outlined in Appendix F, Budget ARTICLE III — RECORDKEEPING 3 . 1 As applicable, DEVELOPERS performance under this Agreement shall be subject to the federal Common Rule : Uniform Administrative Requirements for State and Local Governments " (53 Federal Register 8034) or OMB Circular No . A410 , " Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Nonprofit Organizations, " and either OMB Circular No . A47, "Cost Principles for State and Local Governments, " OMB Circular No . A-21 , " Cost Principles for Educational Institutions," or OMB Circular No . A- 122, " Cost Principles for Nonprofit Organizations . " 3 . 2 DEVELOPER shall retain sufficient records to show its compliance with the terms of this Agreement, and the compliance of all subcontractors or consultants paid from funds under this Agreement, for a period of six years from the date the audit report, described in Section V of this Agreement, is issued, and shall allow DEPARTMENT or its designee , the State Chief Financial Officer or the State Auditor General, access to the records upon request. DEVELOPER shall ensure that audit working papers are available to DEPARTMENT or its designee, the State Chief Financial Officer or the State Auditor General, upon request for a period of six years from the date the audit report is issued, unless extended in writing by DEPARTMENT. The six year period may be extended for the following exceptions : a. If any litigation, claim or audit is started before the six year period expires and extends beyond the six year period, the records shall be retained until all litigation, claims or audit findings involving the records have been resolved . 4