2005 S Housing - Orange County HOME Consortium Agreement

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2 Consortium Agreement for the purpose of participating in the Federal HOME Program and receiving funds as authorized in the Federal Program Regulations. G. "Federal Program Requirements" means documents issued by the U.S. Department of Housing and Urban Development describing the regulations and requirements of the HOME Program in order for funds to be awarded to participating jurisdictions as authorized in the Act. Section II. Purpose This Agreement is to form a Consortium of units of general local government within Orange County for designation as a Federal HUD Consortium under the Act and the Federal Program Requirements of the Act. The said Consortium is known and hereinafter may be referred to as the Orange County HOME Consortium (hereinafter "OHC"). Section III. Agreement. A. The term of this Agreement begins with the effective date of July 1, 2005 and ends June 30, 2005. Subject to the requirements of Paragraph D of this Section, the County and Towns agree that the terms of this Agreement cover the period necessary to carry out all activities that will be funded from funds awarded during three federal fiscal years (2006, 2007, 2008) and that all members of OHC will remain in OHC for the entire period. The Agreement remains in effect until the HOME funds from each of the federal fiscal years of the qualification period are closed out pursuant to 24 CFR 92.507. B. The OHC Program Review Committee is authorized to provide policy oversight for planning, operations, and evaluation of OHC and the HOME Program. The Manager or his/her designee from each participating unit of local government and one (1) elected official from each jurisdiction shall be a member. The OHC Program Review Committee shall prepare a proposed HOME program design each year and consortium program application to HUD, in compliance with the Act, the Regulations, and the Federal Program Requirements, including reallocation of any funds from previous years not expended or any repayments or other program income consistent with this Section. Each year's proposed HOME program design and the consortium program application should be consistent with the Consolidated Plan. Each year's program design shall be subject to the approval of each consortium member's elected board. The proposed HOME program design will define a strategy in sufficient detail to accommodate the collective and individual needs and priorities of the County and Towns. The OHC Program Review Committee shall also review the Consolidated Plan Update each year and any amendments needed, and present these changes and amendments to each consortium member's elected board for approval and submission to HUD and to the State.