Laserfiche WebLink
<br /> <br /> <br /> <br /> <br /> <br /> <br /> IV. PAYMENTS/COST REPORT <br /> <br /> A. 1) City shall pay Project Sponsor for the actual costs of providing the <br /> administration of services hereunder, whether provided directly by <br /> Project Sponsor, provided, however, the total of all <br /> payments to Project Sponsor shall not exceed the Maximum <br /> Obligation as specified in Section III of the Agreement. <br /> <br /> 2) City shall draw down HOPWA funds designated for rental subsidy <br /> payments on a monthly basis after receipt of certification of <br /> individual of individual tenant subsidy amounts. After final <br /> approval by City, finds will be disbursed to landlords. <br /> B. Project Sponsor shall invoice City monthly exclusive of rental subsidy <br /> payments, in arrears, based on the actual cost of providing and contracting for <br /> the services hereunder. City shall pay Project Sponsor no later than thirty (30) <br /> days following receipt of such invoice. Monthly payments are interim <br /> payments only, and are subject to final settlement and reconciliation to the <br /> final Cost Report submitted by Project Sponsor. <br /> <br /> C. All billings by Project Sponsor shall be accompanied by copies of source <br /> documentation including, but not limited to, journals, time sheets, canceled <br /> checks, and records of cost incurred by Project Sponsor in the performance of <br /> this Agreement. <br /> <br /> D. At such times and in such a format as the Contract Officers mutually agree in <br /> writing, Project Sponsor shall prepare and submit to City reports of cost <br /> incurred by Project Sponsor in the performance of this Agreement. <br /> E. The Cost Report(s) shall be financial and statistical reports(s) submitted by <br /> Project Sponsor to City, and shall serve as the basis for final Settlement of this <br /> Agreement. The Cost Reports(s) shall detail all costs incurred by Project <br /> Sponsor to provide services hereunder. <br /> <br /> F. Final Settlement shall be based upon the actual costs incurred by Project <br /> Sponsor to provide services hereunder. If the Cost Report(s) indicates the total <br /> of City's payments to Project Sponsor are less than Project Sponsor's cost to <br /> provide the services hereunder, City shall pay Project Sponsor the difference; <br /> provided, however, the total payment shall not exceed the Maximum <br /> Obligation. If the Cost Report(s) indicates the total of City's payments to <br /> Project Sponsor are higher than Project Sponsor's cost of providing the <br /> services hereunder, Project Sponsor shall pay City the difference. Payment <br /> due pursuant to the Cost Report(s) shall be made within thirty (30) days of <br /> the Final Settlement determination. <br /> <br /> <br /> 3 <br /> <br /> e <br />