Agenda - 11-05-2007-4j - Laserfiche WebLink

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14. Obligation of Rec~ient With Regard to Vacant Units, The recipient shall ensure that all vacant units being rehabilitated will be occupied by a low or moderate income person by the time close-out occurs. 15. Utility Assessments or Bees: Assessments or fees to recover the CDBG funded portion of a utility project maybe charged to properties not owned and occupied by law and moderate income persons. Such assessments are program income and, as such, must be used for eligible CDBG activities that meet a CDBG national objective. 16. Schedules {a) Schedule for Release of Conditions and Completion Activities. The recipient must satisfy all Funding Approval Conditions to release CDBG funds within 3 months (January 2, 2008) from the elate the Grant Agreement and Funding Approval were signed by the DCA Director. The recipient must draw down all CDBG funds, expend all loca] non-CDBG funds and complete all project activities in conformance with the activities implementation schedule in the application as modified by the Performance Based Contract. The recipient must obligate ail funds within 27 months (January 2, 2010) from'the date the Grant Agreement and Funding Approval are signed by DCA•Director. All funds arc to be expended within 30 months {April 1, 2010) from the date the Grant Agreement and Funding Approval are signed by DCA Director. Any remaining funds will be de- obligated. All closeout documents must be returned to DCA by (July 1, 2010}. Any request for extensions or amendments must be submitted no Iater than the 28tt' month (I+'ebrua~y 1, 2010) from the date the Grant Agreement end Funding Approval were signed by the DCA Director. Consistent with Section .1104 of the prog~•am regulations {4NCAC 19L), based on review of the recipient's perfarnaance for conformance with the approved application and approved performance schedules, the Secretary of Commerce may withdraw the granfi, except for funds already expended. (b) Schedule far Submission of Compliance Documents. The recipient must submit the following compliance documents within the specified dumber of months from the date the Grant Agreement alid the Funding Approval were signed by the DCA Director: • Environmental - 3 months (January 2, 2008} • Equal Employment and Procurement Play ~ 4 months (February 1, 2008) • Fair Housing - 4 months (February 1, 2008) m Section 3 Plan - 4 months (February 1, 2008) ® Section 504 Plan - 4 months (February 1, 2008) • Request for Release of Funds - S months (March 1, 2008) • Analysis of Irnpediments - 6 months (April 1, 2008) (c) Schedule for Drawdown of Funds: The recipient must comply with the following schedule to ensure that fwrds are drawn down in accordance with section 16 (a} of this Grant Agreement; • 1St Period- 6 months (April 1, 2008) 20% drawn down ($80,000) • 2"~ Period -12 rnontltis (September 30, 2008} 40% drawn down ($160,000) a 3r`t Period -18 months (April 1; 2009) 60 % drawn down ($240,000) © 4`t' Period - 24 months (September 30, 2009) 80% drawn down ($320,000) • 5°i Period - 30 months (April 1, 2010) 100% drawn down and expended . ($400,000) 4