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Agenda - 04-04-2017 - 8-h - North Carolina Housing Finance Agency (NCHFA) – 2017 Essential Single-Family Rehabilitation Loan Pool (ESFRLP17) Award
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Agenda - 04-04-2017 - 8-h - North Carolina Housing Finance Agency (NCHFA) – 2017 Essential Single-Family Rehabilitation Loan Pool (ESFRLP17) Award
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3/31/2017 8:07:23 AM
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BOCC
Date
4/4/2017
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8h
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8 <br /> 13. ESFRLP Funds or ESFRLP Pool. The HOME funds awarded to Subrecipient under this Agreement. <br /> 14. ESFRLP Program Guidelines. The Agency's program guidelines for administering the Program <br /> which Member must adhere to in order to received funds under this Agreement. <br /> 15. Services. The eligible activities described in this Agreement. <br /> 16. Subaward. Subaward means the funds awarded to the Subrecipient under this Agreement. The <br /> Subaward consists solely of federal funds. <br /> 17. Subrecipient. Subrecipient the organization identified in Section 1 of this Agreement to which the <br /> Agency is making a subaward, and which is accountable to the Agency for the use of the funds <br /> provided. <br /> 18. Supercircular. Supercircular means 24 CFR Part 200, Uniform Administrative Requirements, Cost <br /> Principles,and Audit Requirements for Federal Awards.Also referred to as Uniform Guidance. <br /> f== <br /> Part IV. Purpose <br /> The Agency has received a grant of federal HOME funds from HUD which the Agency uses, in part, to <br /> fund its Single-Family Rehabilitation Loan Pool Program.The ESFRLP provides an interest free,deferred- <br /> forgiven loan to Program-eligible homeowners to pay for certain rehabilitation costs of a homeowner's <br /> k? <br /> house. The Agency provides subawards to local organizations to utilize them in assisting in the <br /> administration of the ESFRLP. The Agency has advertised the availability of funding under the ESFRLP <br /> and the application of the Member was received,evaluated,and approved by the Agency. The Agency and <br /> the Member now wish to enter into this Agreement to provide a subaward to Member under the ESFRLP. <br /> Part V. SubAward <br /> The Agency hereby awards a Subaward, as described above,to Subrecipient subject to the provisions of <br /> this Agreement and any attachments hereto. The Agency shall pay the Subrecipient in the manner and in <br /> the amounts specified in the Agreement Documents. The total amount paid by the Agency to the <br /> Subrecipient under this Agreement will not exceed$175,000 and consists entirely of federal funds. <br /> Although the Agency has approved a set-aside for a specific amount to the Member,the Member also has <br /> the opportunity to access additional funds from the ESFRLP pool(depending upon fund availability) once <br /> they have met the threshold requirements outlined in ESFRLP17 Program Guidelines 3.2.2. <br /> Part VI. Subrecipient Duties (Scope of Work) <br /> The Subrecipient will provide the services as described in this Agreement in accordance with the terms and <br /> conditions of the Agreement Documents. The Subrecipient will be responsible for all activities and <br /> responsibilities as defined by the ESFRLP17 Program Guidelines. <br /> Page 3 of 16 <br />
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