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AG 2012 08 20
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AG 2012 08 20
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8/21/2012 1:00:56 PM
Creation date
11/27/2017 11:10:58 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/20/2012
Board
Board of Commissioners
Meeting Type
Regular
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member agency. No administration costs will be provided for the portion the agency allocates to <br />the CHDO. The forfeited portion of administrative funds will be retained by the lead agency (the <br />City) to offset administration costs. <br />5. The Agency may use their allocation of HOME Program administrative funds to pay for costs <br />relating to (a) oversight, coordination and general management of HOME project(s); (b) staff and <br />overhead costs; (c) public information costs; (d) cost of fair housing; and (e) costs of complying <br />with Federal requirements, per 24 CFR 92.207. Program administration includes, but is not limited <br />to, the following types of assignments: Developing systems and schedules for ensuring compliance <br />with program requirements; developing agreements with entities receiving HOME funds; <br />monitoring HOME - assisted housing for progress and compliance with program requirements; <br />preparing reports and other documents related to the program and projects; providing local <br />officials and citizens with information about the program; preparing program budgets and <br />schedules; outreach activities; monitoring program activities to assure compliance with program <br />requirements; coordinating resolution of monitoring findings; and managing or supervising persons <br />whose primary responsibilities are with regard to the program. Also included are, travel costs <br />incurred for business in carrying out the program; administrative services performed under third <br />party contracts or agreements (such as legal or accounting services); and other costs for goods and <br />services required for administration of the program. <br />6. The Agency may use HOME program funds to pay for project - related soft costs, which are costs <br />related to the development or financing of HOME - assisted housing. These costs must be reasonable <br />and necessary costs that are associated with the financing or development (or both) of new <br />construction, rehabilitation or acquisition of housing assisted with HOME funds. These soft costs <br />must be consistent with the requirements of 24 CFR 92.206 and specifically 24 CFR 92.206 (d) (6). <br />However, in no event will the project - related soft costs exceed ten percent (10 %) of the Agency's <br />total HOME funds identified in Attachment B of this agreement. <br />Project related soft costs include such things as work specification preparation; loan processing; <br />construction inspections and oversight; professional services required to prepare plans, drawings, <br />or specifications of a project; costs to process and settle the financing for a project, such as a <br />private lender origination fees, credit reports, fees for title evidence, recordation and filing or legal <br />documents, building permits, attorney's fees, private appraisal fees, fees for independent cost <br />estimates, builders or developers fees, and impact fees that are charged for all projects within a <br />jurisdiction; pre - purchase homebuyer counseling for a HOME - assisted homebuyer; and, costs <br />associated with a project- specific environmental review. <br />7. The Agency shall certify that the match requirement of 24 CFR 92.218 -222, when applicable, will be <br />adhered to, and that non - federal funds in the sum of not less than twenty -five percent of project <br />costs shall be expended. The Agency shall expend non - federal funds as matching contribution in an <br />amount not less than twenty -five percent (25 %) of the total HOME funds requested for each eligible <br />dwelling unit. Certification of match expenditures will be provided on a dwelling unit -by- dwelling <br />unit basis and documented to the lead entity no less than quarterly. This procedure will be followed <br />until the total amount of match funds has been met. <br />If the Agency has excess match they may elect to contribute such excess to another Consortium <br />member's match liability. The contribution must be from nonfederal sources and permanent in <br />nature. The terms of the contribution shall be outlined in a written agreement between the two <br />members. A copy of the executed agreement shall be submitted to the City. <br />Attachment number 2 <br />F -7 Page 126 <br />
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