AG 2007 08 20 - Laserfiche WebLink

Home Browse Search

The Agency shall certify that the match requirement of 24 CFR 92.218-222, when applicable, will be adhered to, and that non-federal funds in the sum of not less than twenty-five percent of project costs shall be expended. The Agency shall expend non- federal funds as matching contribution in an amount not less than twenty-five percent (25%) of the total HOME funds requested for each eligible dwelling unit. Certification of match expenditures will be provided on a dwelling unit-by-dwelling unit basis and documented to the lead entity no less than quarterly. This procedure will be followed until the total amount of match funds has been met. E. BUDGET CHANGES AND INELIGIBLE EXPENSES: Except for changes made in accordance with subsection (2) below, any and all alterations in the approved use of budgeted funds shall be subject to prior review by the City. 2. Funds may be shifted between line items of the Project without prior approval of the City only to the extent that such action does not exceed ten percent (10%) of the line item total from which the funds are being removed or to which the funds are being added. 3. A report of fund shifts not requiring prior approval by the City shall be Reported in writing'. to the Deputy Planning Director of the City within three (3) days after its effective date. 4. Any costs and expenses not covered by the Project Budget, and hence eligible for payment from Grant funds, shall be borne entirely by the Agency. F. RECORD AND'REPORTS: The Agency shall maintain and shall make available at reasonable times and places to the. City such records and accounts, including property, personnel, and financial records, as are deemed necessary by the City and/or State and Federal agencies in order to assure a proper accounting for all Project funds. 2. The Agency shall provide any duly authorized City representative, representative of HUD and the Comptroller General of the United States, at all reasonable times, access to and the right to inspect, copy, monitor, and examine: all of the books, papers, records, and other documents relating to the HOME funds and the fulfillment of this agreement for a period of three years following the completion of all close-out procedures respecting HOME funds, and the (final settlement and conclusion of all issues arising out of the HOME loan. 3. The Agency shall provide quarterly reports to the City that denotes accomplishments, beneficiaries, problems encountered and changes in work schedule and any other information needed by the City to complete the Consolidated Annual Performance Evaluation Report and other reports required',by HUD. This quarterly report shall also include an accounting of all program' income received and/or expended during the quarter and year to date. F-3