MERCY HOUSE LIVING CENTERS - Laserfiche WebLink

Home Browse Search

III. DISBURSEMENT AND FUNDS The City was allocated $11,598,442 in ESG-CV2 funds under the CARES Act from HUD in response to the COVID-19 pandemic. CITY agrees to pay to SUBRECIPIENT when, if and to the extent federal funds are received under provisions of the Act a sum not to exceed $1,150,550 for SUBRECIPIENT' S performance in accordance with the Budget attached hereto as Exhibit B during the period of this Agreement. Said sum shall be paid after CITY receives invoices submitted by SUBRECIPIENT as provided hereinabove. A. Amount and Expenditure End Date The CITY agrees to reimburse the SUBRECIPIENT a maximum amount not to 'exceed $1,150,550 from ESG-CV2 funds, as outlined in Exhibit B, Final Budget, and such funds shall be expended by the SUBRECIPIENT on or before June 30, 2022. SUBRECIPIENT has the ability to adjust line item amounts in the Budget with the written approval of the CITY's Executive Director of the Community Development Agency, so long as the total Budget amount does not increase. B. Invoicing Procedures The SUBRECIPIENT shall submit monthly invoices (on or before the 15" day of the month) in a form prescribed by the CITY, detailing such expenses. Such schedule may be modified with the approval of the CITY. On or before June 30, 2022, at least 70% of the AGREEMENT funds must be expended or the AGREEMENT may be terminated. In addition, SUBRECIPIENT can invoice for advance payments that need to be paid that week, including but not limited to security deposits or incentives, but only once per week. Such invoice for advance payments would not require documentation upon submission, but such documentation would be required to be submitted within a reasonable amount of time. If such required documentation is not submitted within a reasonable amount of time, SUBRECIPIENT would be required to repay such advanced funds to the City upon request. C. Payment Payment is subject to the receipt and approval of such invoices and quarterly activity reports, as hereinafter more fully set forth below under Reporting, with the final payment subject to the satisfaction of the condition precedent of submittal of complete invoicing and reporting information due on or before July 15 of the applicable funding year. The CITY shall pay such invoices within thirty (30) days after receipt thereof, provided the CITY is satisfied that such expenses have been incurred within the scope of this AGREEMENT and that the SUBRECIPIENT is in compliance with the terms and conditions of this AGREEMENT. The thirty (30) day period will discontinue if the reimbursement request is determined to be incomplete and will restart the thirty -day timeline once the remaining required elements have been submitted. With respect to special invoices for advance payments, City will make all reasonable efforts to provide a manual check to SUBRECIPIENT, but only once per week.