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2006-037
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2006-037
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Last modified
8/4/2016 2:37:22 PM
Creation date
9/30/2015 8:12:20 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
02/07/2006
Control Number
2006-037
Agenda Item Number
11.C.1.
Entity Name
Florida Housing Finance Corporation
Subject
HOME Investment Partnerships Program
Supplemental fields
SmeadsoftID
4470
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support of a grant . These include but are not limited to source evaluation , protests , disputes , and <br /> claims . <br /> C . The Grantee shall abide by the requirements of 24 CFR 24 . 200 concerning debarment and suspension <br /> on procurement procedures . <br /> XV . Program Closeout <br /> A . Program Closeout is the process by which the Corporation determines that all applicable actions and <br /> all required work of the program including audit and resolution of audit findings have been completed <br /> or that there are no additional benefits likely to occur by continuation of program activities or costs . <br /> All findings from Corporation monitoring visits must be cleared prior to closeout. <br /> XVI . Termination for Convenience <br /> A . The Corporation or Grantee may terminate the grant in whole, or in part, when both parties agree that <br /> the continuation of the program would not produce beneficial results commensurate with further <br /> expenditure of funds . <br /> B . The two parties shall agree upon the termination conditions , including the effective date and in the <br /> case of partial termination, the portion to be terminated . <br /> C . If a project is terminated before its completion, an amount equal to the HOME funds disbursed for the <br /> project must be paid by the HOME recipient to its HOME Investment Trust Fund. Such Funds are due <br /> to the Corporation within 30 days of the date of project cancellation . Such funds shall be returned to <br /> HUD by the Corporation in compliance with HUD Notice CPD 92- 18 , issued June 9, 1992 . <br /> XVII . Suspension or Termination-for Cause <br /> A . The Corporation may suspend the grant, in whole or in part, at any time during the Grant Period, and <br /> upon reasonable notice to the Grantee, withhold further payments or prohibit the Grantee from <br /> incurring additional obligations of grant funds when it is determined that the Grantee has failed to <br /> substantially comply with the conditions of this Agreement . This will be done pending corrective <br /> action by the Grantee or a decision by the Corporation to terminate the grant. <br /> B . The Corporation, after reasonable notice following procedures pursuant to Section XVIII (A) of this <br /> Agreement, may terminate the grant, in whole or in part, at any time during the Grant Period when it is <br /> determined that the Grantee has failed to substantially comply with the conditions of this Agreement . <br /> The Corporation shall promptly notify the Grantee in writing, of the determination and the reasons for <br /> the termination , together with the effective date . <br /> XVIII . Audit Requirements <br /> A . The Grantee shall arrange for the performance of annual financial/compliance audits of the grant <br /> project . All audits must be performed by an independent qualified auditor. The audit period is <br /> identical with the Grantee's regular fiscal year. The audit(s) will be conducted in accordance with the <br /> requirements set forth in the U. S . Single Audit Act of 1984, as amended and Office of Management <br /> and Budget (OMB) Circular A- 133 , as amended . <br /> B . If the Grantee expends $ 500,000 or more in a year in Federal awards, the Grantee shall have a single <br /> audit or program specific audit if so elected, conducted for that year in accordance with the provisions <br /> of OMB Circular A- 133 , as amended. <br /> C . Grantees are required to submit one copy of the fiscal year audit report covering the program. The <br /> audit reports shall be sent to the Corporation within 30 days after the completion of the audit, but no <br /> later than one-hundred eighty ( 180) days after the end of the audit period unless agreed to by the <br /> Corporation . <br /> Florida Housing Finance Corporation Page 5 (Rev . 09/05 ) <br />
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