Agenda - 06-16-1987 - Laserfiche WebLink

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1.5 1.6 Project, WD shall, within a ressonable period of time, take the additional steps sutborized by Section d(c)(6) of th'e Act as may be necessary to carry out this assurance, including (as provided in that section of the Act) "tire reservation of annual contributions authority for the purpose of amending housing assistance contracts or the allocation of a portion of new authorizations for the purpose of amending housing assistance contracts.a (d) BUD will slake periodic payments requisition by the PEA It the form shall include certifications by the have been or will be made only: on account of each project upon prescribed by BUD. Each requisition PEA that bousing assistance payments (1) in accordance with the provisions of the Contract as apply to (1) units under lease by Families and (11) lease by Families, and (2) With respect to units which the PEA has inspected Inspected and determined to be in decent, safe condition, pursuant to Section 2.4 of this ACC, within to the making of housing assistance payments. the provisions waits not under or caused to be and sanitary one year prior (e) Following the and of each Fiscal Year, any amount by which the total payments made during that Fiscal Year exceed the Annual Contribution payable in accordance with this section will be subtracted from the text payment made by BUD to the PEA, unless other dispositio=) is approved or required by HUD. Fiscal. Year. The Fiscal Year for the Program shall be the Fiscal Year established by Section 0.3 of this ACC. However, the first Fiscal Year for any Project shall be the period beginning with the effective dot of the Project identified in Pxhibit 1 to this ACC and endlzg on the last day of the established Fiscal Year which is not less than 12 %ontht nor more than 23 months after the effective date. If the first Fiscal Year ex,seeds 12 months, the Maximum ACC Commitzent shall be adjusted by the addition of the pro rate amount applicable to the period of operation in excess of 12 ma :iths. Periodic. Ad ustment of Contract Rents. The Contract will proq_de for periodic adjustments in the Contract heats chargeable by the Owner :zd coamensurate Increases in amounts of housing assistance payments, in accordance with applicable BID regulations, up to the maximum mount author .zed for housing assistance payments in the BUD approved estimate submitted pur uant to Section 2.11. 1.7 Equal Cgportunity Housing Plan Admlaistrative Plan and Appliration. The PSA shall Comply with all provisions of its Equal Opportuni =y Rousing Plan, Adainistrative Plan and ApplicatioA, each as approved by HOD. 1.8 t :gedttious CarryIn Out of�3ect. The PEA shall proceed �peditlously to Implement the Program consistent with the rehabilitation and 1,asing schedule. If the PHA fails to proceed expeditiously, BUD, after gi•ing the PEA and Owners, wbera appropriate, reasonable opportunity to take corrective action, say terminate or reduce its obligation under this ACC Part 1 with respect t the Project.