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CABARRUS/IREDELL/ROWAN CONSORTIUM <br />JOINT COOPERATION AGREEMENT <br />FOR <br />HOME INVESTMENT PARTNERSHIP ACT <br />HOME INVESTMENT tN AFFORDABLE HOUSING <br />THIS AGREEMENT, entered into this 21" day of July 2008, by and between <br />the unincorporated area of the County of Cabarrus, the unincorporated area of the <br />County of Iredell, the unincorporated area of the County of Rowan, (herein called the <br />Counties), the Towns of Mooresville and Davidson, the Cities of Statesville, <br />Salisbury, Kannapolis and the City of Concord, (herein called the "Lead Entity") and <br />collectively the above Counties, Cities and Towns are herein known as the <br />"Cooperating Units", said parties to the agreement each being a general local <br />governmental unit of the State of North Carolina, and is made pursuant to North <br />Carolina statutes, Article 20 of Chapter 1GOA. <br />WITNESSETH THAT: <br />WHEREAS, Title II of the Cranston-Gonzalez National Affordable Housing <br />Act (herein called "the Act") makes provisions whereby units of local governments <br />may enter into cooperation agreements to undertake or assist in undertaking <br />affordable housing pursuant to the HOME Investment Partnership Act; and <br />WHEREAS, it is the desire of the parties that beginning in Fiscal Year 2009, <br />the Lead Entity act in a representative capacity for all cooperating members of local <br />government and desires that the Lead Entity assume overall responsibility for <br />ensuring that the activities of the Consortia for the HOME Program are carried out <br />in compliance with the requirements of this Act. <br />NOW, THEREFORE, the parties hereto do mutually agree as follows: <br />1. The parties agree to cooperate to undertake or to assist in undertaking <br />housing assistance activities for the HOME Program. The Cooperating <br />Units hereby authorize the Lead Entity to submit for and receive HOME <br />funding from the United States Department of Housing and Utban <br />Development. The Lead Entity is authorized to act in a representative <br />capacity for all Cooperating Units for the purposes of administering the <br />HOME Program. <br />2. The Cooperating Units hereby authorize the Lead Entity to establish a <br />local HOME Investment Trust fund for receipt of HOME funds and <br />repayments. <br />3. The Lead Entity and Cooperating Units shall cooperate in the <br />implementation of the HOME Program and shall cooperate in the <br />preparation of the Consolidated Plan by providing to the Lead Entity all <br />pertinent and necessary information. The Cooperating Units shall <br />F-3 <br />