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05 - HOPWA Ex1
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05 - HOPWA Ex1
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Last modified
1/3/2012 3:30:28 PM
Creation date
7/30/2010 12:19:30 PM
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City Clerk
Doc Type
Agenda Packet
Item #
05
Date
6/7/2010
Notes
Ex. 1
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<br />~} City sb.a~l pad Project Sponsor far the actual casts afproviding the <br />adm.i~itratian of services hereunder, whether prodded direct~~ b~ <br />Project Sponsor, provided, ho~rever, the fatal of all <br />payments to Pry j ect poor ~h~ gat e~~ee~. t~.e aimu~n <br />obligation as specified Section III of the Agreement. <br />~} City shai drams dom. ~~~ funds designated far rent. sub~id~ <br />patnents are a monthly basis after receipt of certification of <br />individuaf of individual tenant subsidy a.ounts. After final. <br />approval by City, f.ds .il be disbursed to landlords. <br />~. Praject Sponsor shall invoice City rnonthiy exclusive of rental subsidy <br />payments, in arrears, basod on the actual cost cfproviding and contracting far <br />the services hereunder. City shad pay bra jest par~ar no later t~.a~. thirty ~' a~ <br />days following receipt of such invoice. Iantl.y payments are interims. <br />payments only, and are subject to final settlement and reconciliation to the <br />fna~ Cast Report submitted by Praject ponor~ <br />~. AlI bi~~ins by Project Sponsor sb.all be accompanied by copies of source <br />docu~.entation including, but not limited to, j ournal, tine sheets, canceled <br />checks? and records of cost incurred ~~ Project Sponsor .e performance of <br />this Agreement. <br />I~. At such times and ~ such a forzna~t a the Contract officers .utu.ly agree in <br />Ming, Project Sponsor shall preparc and submit to Cif reports of cast <br />incurred by Proj ect ponsar in the performnoe of this A.gree~nent. <br />F~. 't`he Cost epart~s} shall be trnancral and statlst~cal reports~s~ submitted by <br />Praject Spansar to City, and shall serve as the basis for final Settlernent ofthis <br />Agreement. 'he Cost eports~s} hl detail l costs incurred by Praj ect <br />Sponsor to provide services hereunder. <br />F. Final Settlement shall be bused upon the actual costs incurred by Praj ect <br />Sponsor to provide services hereunder. If the Cost Reports} indicates the fatal <br />of City's payments to Project Sponsor are less than Praject Sponsor's cast to <br />provide .e services hereunder, City shall pay Praject sponsor the difference; <br />provided, however, the total payment shad not exceed the l~.una. <br />~bligat~on, if the Cost ~.eport~s~ indicates the total of Cit~r's payments to <br />Project Sponsor are higher than Project sponsor's cost of providing die <br />services hereunder, Praject Sponsor shah pay pity the difference, Payrnent <br />due pursuant to the Cast Report~s~ shall be made within ~ ~ a~ days of <br />the Final ettleent determination. <br />~~~f <br />
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