AG 2002 08 19 (Regular) - Laserfiche WebLink

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4. The Counties and Cooperating Units shall be entitled to a pro rata portion of the HOME funding for eligible uses under the HOME bill and shall be responsible for meeting the matching funds requirements. The Consortium Board shall prorate funding to individual units. Allocations will be based on similar criteria used by HUD to determine yearly participating jurisdiction funding levels. 5. The Consortium agrees that 15% of all HOME funds received will be set aside for the use of Community Housing Development Organizations (CHDOs) within the three county consortium. All CHDO's must have a 501 C-3 tax status as required by federal law. 6. The Consortium Board shall have the right to reallocate funding that a respective County and/or City is unable to use due to a lack of eligible projects or matching resources. The term for such use shall be twenty-four months. 7. The Cooperating Units agree that Lead Entity or other cooperating local government HOME funds can be used within the Counties limits provided such eligible HOME activities are consistent with the Consortium's adopted Consolidated Plan. The Counties and Cooperating Units shall be responsible for providing the matching funds unless such project is a joint project desired by the participating parties in which case the parties shall share in providing the matching funds. 8. With reference to any program income generated from the HOME funds, federal regulations shall govern placement of HOME repayments into local trust funds. Individual Consortium members will be responsible for separately accounting for repayments on each Cooperating Unit's projects. Repayments on projects shall be available to use by the individual member on other approved HOME activities. 9. The Counties and Cooperating Units do hereby agree to inform the Lead Entity, in writing, of any income generated by the expenditure of HOME funds received by the Counties and Cooperating Units. 10. The Cooperating Units, Counties and Lead Entity shall affirmatively further fair housing. 11. The Cooperating Units and Counties, as parties to the Consortium, agree that they shall direct all activities, with respect to the Consortium, to the improvement of housing conditions in the State of North Carolina. 12. Any person shall not construe this agreement to extend a benefit or liability to any person or entity not a party to this agreement. The Cooperative Units, Counties and Lead Entity agree that each will hold the other harmless due to the negligent acts of its employees, officers or agents, including volunteers, or due to any negligent operation of equipment. 13. The term of this agreement will cover the period necessary to carry out all activities that will be funded from funds awarded for three federal fiscal years and the units of general local government which join the Consortium will remain in the Consortium for this entire period. The qualification period is Federal Fiscal Years 2003-2005. The time for which this agreement remains in effect is until the HOME funds from each of the Federal Fiscal Years set out above are closed out pursuant to 24 CFR 92.507. No Consortium member may withdraw from the agreement during the Federal Fiscal Years 2003-2005.