25K - NEIGHBORHOOD STABILIZATION PROGRAM

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City of Santa Ana 8-09-LN-CA-0047 2 2. The Grantee shall comply with governmentwide guidance and standard award terms established by the Office of Management and Budget {OMB} concerning the implementation of the Recovery Act, including Requirements for Implementing Sections 1512, 1605, and 1606 of the American Recovery and Reinvestment Act of 2009 for Financial Assistance Awards, 74 Fed. Reg. 18449 (Apri123, 2009) {to be codified at 2 CFR part 17b} (as now in effect and as may be amended from time to time}. The Grantee shall comply with reporting requirements established by HUD and OMB (including all revisions to such reporting requirements), as well as section 1553 of the Recovery Act (including implementing guidance). 3. Subject to the provisions of this Grant Agreement, HUD will make NSP2 Grant Funds in the amount of $10,000,000 available to the Grantee upon execution of this Grant Agreement by the parties. Of that amount, $2,500,000 must be used for the purchase and redevelopment of abandoned or foreclosed homes or residential properties that will be used to house individuals or families whose incomes do not exceed 50 percent of area median income, pursuant to the Recovery Act and HERA. The Grantee shall have 24 ; months from the date of HUD's execution of this Grant Agreement to expend half of the NSP2 Grant amount pursuant to the requirements of this Agreement, the Recovery Act, HERA and the NOFA, as amended. The Grantee shall have 36 months from the date of HUD's execution of this Grant Agreement to expend the total NSP2 Grant amount pursuant to the requirements of this Agreement, the Recovery Act, HERA and the NOFA, as amended. The NSP2 Grant Funds may be used to pay eligible costs arising from eligible uses incurred after the NSP2 Approval Date provided the activities to which such costs are related are carried out in compliance with all applicable requirements. Pre- award planning and general administrative costs may not be paid with funding assistance except as permitted in the NOFA, as amended. Other pre-award costs may not be paid with funding assistance except as permitted by 24 CFR 570.204(h); for purposes of NSP2, such costs are limited to those incurred on or after the date that the NSP2 NOFA i was published by HUD. if the Grantee's NSP2 Grant Amount is less than the amount requested in the Grantee's NSP2 Application, the Grantee must submit a Revised Budget and Activity List, (see Appendix A}, with the executed copy of this Grant Agreement. The Grantee is reminded that the Revised Budget and Activity List must still comply with the requirements of the NSP2 NOFA. Specifically, the Grantee is required to 1) return a minimum of 100 abandoned or foreclosed homes back to productive use or otherwise eliminate or mitigate the negative effects on the stability of the target geography and 2} ensure that the target geogrpphy in which the Grantee intends to carry out NSP2 activities has an average combined needs index score of 18 or greater. 4. The Grantee agrees to assume all of the responsibilities for environmental review, decisionmaking, and actions, as specified and re uired in re lations issued b the q ~ Y Secretary pursuant to section 104(g} of Title 1 of the Housing and Community Development Act, as amended {42 U:S.C. 5304) and published in 24 CFR Part 58. 25K-6