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04 HOPWA
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06/02/2008
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04 HOPWA
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Last modified
1/3/2012 3:30:56 PM
Creation date
9/20/2010 4:37:58 PM
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City Clerk
Doc Type
Agenda Packet
Item #
04
Date
6/2/2008
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~~~~CV~ ~~~~ <br />~- ~ ~ City sha~~ a fro ~ect onsor for ' <br />~ Y ~ ~ the c.a~ costs of prov~d~~.g the <br />administration of servxccs hereunder, whether rovided directs b <br />~ ~~ <br />Prod ect por~sor, provided, however, the total of a~~ <br />pa~naents to prod ect sponsor sha~~ not exceed the ~axin~u~m <br />~b~ia.tion as specified in ectian ~ of the Agreement. <br />~~ City sh~~ draw down ~p~A funds deli ated for re~ta~ subsi <br />~~ <br />payments on a ~or~th~y basis aver receipt of certification of <br />ind~vidua~ of indi~idua~ tenant subsidy amounts. Aber ~nai <br />- ~ approval by City funds. ~~ be disbursed to ~andiords. <br />B. Project sponsor sha~~ invoice Ci#~ n~onth~y exc~usxve ofrenta~ subsid <br />a e~.ts in arr <br />p ~ ears, based on the actuai cast ofproviding and co~tractin for <br />the services hereunder. Cry sha~~ pay.Pro~ect onsor no dater ~ th' <br />. p ~ ~0~ <br />- - days fo~~o~v~ng receipt ofsuch ~nvo~ce:- ~or~thi ~. ent .are interim <br />Y P Ym <br />- pyaments only, and are subs ect to n- sett~e~nent and reonci~~ation to e <br />f~r~a~ Cast Report submitted by Project sponsor. <br />- : -.. .. ~ C..AI~ bii~n~b Pr~~ect ohsor s~.a~~= <br />~ p - be aecon~pan~ed by copes of source <br />- - - documentation-inciuding,~but got limited to,° ~~urna~ tirnc sheets c <br />.~ ~ , anceied <br />.r ehecs, and=records-ofcost-incurred~byPro~ect onsorin the erformance <br />.. this Agree~nen~t. - - ~ - - .. - : ~ - .. - - <br />- - I~. At such tines ~~ . such a format-as.the- Con <br />tract off cers mutua~~y agree - <br />- - ra.~r~, P~o~ ect -sponsor sha~~~ .prepare ~ and submit to . it r}yr-yJ~~=(.~~/'arts of cost <br />F ~ .~4 <br />- incurred by-P`ra~ ect~ pon.sar~. ire the pe'ormance of this A eeent. <br />~. ~'he Lest ~.epor~ s ~shail be naneia~ ar~d ' <br />~ ~ statistical reports~s~ s~rbm~tted b <br />Project Sponsor to City, and shl serve as the basis for final e ' <br />ttlernent of this <br />Aren~ent. ~'he Cost eports~s~ shall detail ail casts incurred b ~ro'eet <br />y ~ <br />sponsor to provide servres hereunder. <br />~". P`inal ett~e~nent shall be based- upon the actual costs in.cu~xed b Pro'ect <br />~ J <br />pa~sor to provzde services hereunder. ~f the Cost ~ ort s indicates ~e tat <br />. ~ ~ l <br />of City s payments to Pray ect Sponsor are less than Pro'ect onsor' ca <br />. ~ P ~ to <br />provide the services hereunder, City shall pay ~'ro'ect onsor the differenceF <br />~ p <br />provided, however, the total paym.t shall not exceed the Maximum <br />~bligat~o~. ~fthe Cast cport~s~ indicates the tata.l of Cit 's ~ ents to <br />Pra' ~ y P ~ <br />~ ect Sponsor arc higher than Prod ect Sponsor s cast of rov~d~ the <br />P ~ <br />services hereunder, Prod ect Sponsor shall pay Cit the difference. Pa ent <br />d ~ - ~ <br />ue pursuant to the Cost Reports} shall be made vr~th~n th1rty ~0 da s of <br />. ~ ~ y <br />the Penal Settlement determination. <br /> <br />
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