AG 1996 05 21 - Laserfiche WebLink

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and shall prepare and submit its plan for monitoring compliance with the Consolidated Plan. The Lead Entity assumes overall responsibility for ensuring that the Consortium's HOME Program is carried out in compliance with the requirements of the HOME Program, including requirements concerning a Consolidated Plan in accordance with HUD regulations in 24 CFR Parts 92 and 91, respectively, and the requirements of 24 CFR 92.350 (a) (5). 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 funding shall be prorated according to the amount which the federal government establishes for each participating entitlement community in the consortium. If no entitlement amounts are established for the participating jurisdiction in the Cabarrus/Iredell/Rowan Consortium, funds for the participants shall be allocated on the basis of need, after 15% has been subtracted from the total consortium funding to provide assistance to nonprofit organizations established within the Counties. 5. The Consortium agrees that 15% of all HOME funds received will be set aside for the use of Community Housing Development Organizations (CHDOs) which have 501 C-3 tax status as required by federal law. 6. The Cooperating Units shall have the fight to reallocate its HOME funding to the respective County and/or City to be used when a City or County is unable to use the funding due to lack of eligible projects or matching resources. A schedule for reallocation shall be mutually agreed upon to allow HOME funding to be used before reallocation by the U.S. Department of Housing and Urban Development to other participating jurisdictions. 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.