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CABARRUS/IREDELL/ROWAN CONSORTIUM <br /> JOINT COOPERATION AGREEMENT <br /> FOR <br /> HOME INVESTMENT PARTNERSHIP ACT <br />HOME INVESTMENT IN AFFORDABLE HOUSING <br /> <br /> THIS AGREEMENT, entered into this day of ., <br />1996, by and between the County of Cabarrus, County of Iredell, County of Rowan <br />(herein called the Counties), the Town of Mooresville, the City of Statesville, City of <br />Salisbury and the City of Concord, (herein called the "Lead Entity") and herein <br />known as Cooperating Units, said parties to the agreement each being a general <br />local governmental unit of the State of North Carolina, and is made pursuant to <br />North Carolina statutes, Article 20 of Chapter 160A. <br /> <br />WITNESSETH THAT: <br /> <br /> WHEREAS, The Cranston--Gonzalez National Affordable Housing Act of <br />1990 (herein called the "Act") makes provisions whereby urban counties may enter <br />into cooperation agreements with certain units of local government to undertake or <br />assist in undertaking affordable housing pursuant to the HOME Investment <br />Partnership Act; and <br /> <br /> WHEREAS, it is the desire of the parties that beginning in Fiscal Year 1996, <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 Consortia for the HOME Program is carded out in compliance <br />with the requirements of this Act. <br /> <br />NOW, THEREFORE, the parties hereto do mutually agree as follows: <br /> <br /> 1. The parties agree to cooperate to undertake or to assist in undertaking <br />housing assistance activities for the HOME Program. The Counties and <br />Cooperating Units hereby authorize the Lead Entity to submit for and receive <br />HOME funding from the United States Department of Housing and Urban <br />Development. The Lead Entity is authorized to act in a representative capacity for <br />all Counties and Cooperating Units for purpose of the HOME Program. <br /> <br /> 2. The Counties and Cooperating Units hereby authorize the Lead Entity to <br />establish a local HOME Investment Trust fund for receipt of HOME funds and <br />repayments. <br /> <br /> 3. The Lead Entity, Counties and Cooperating Units shall cooperate in the <br />implementation of the HOME Program and shall cooperate in the preparation of the <br />Consolidated Plan by providing to the Lead Entity information that is needed. The <br />Counties and Cooperating Units shall execute and submit the required certifications, <br /> <br /> <br />