2020-234-E Housing - EmPOWERment Inc. Hillmont development agreement

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DocuSign Envelope ID:002619DF-54F2-4EEA-B4A8-14714544BAC0 completion of an environmental review and receipt by Orange County of a Release of Funds from the U.S. Department of Housing and Urban Development under 24 CFR Part §58 if applicable. The parties further agree that the provision of such funds to the project is conditioned on Orange County's determination to proceed with, modify, or cancel the project based on the results of a subsequent environmental review. NOW, THEREFORE, in consideration of the mutual covenants, promises, and representations contained herein, it is agreed between the parties hereto as follows: I. USE OF HOME FUNDS/SUBSIDY TYPE A. The Owner shall perform the projects or tasks related to its allocation of HOME and HOME CHDO funds as provided in Exhibit B, Scope of Services and within the Project Budget outlined in Exhibit C. All Exhibits are attached hereto and are hereby made a part of this Agreement, as it now reads or as it may be modified by the parties. B. The Owner may not request disbursement of funds under this Agreement until the funds are needed for payment of eligible costs. The amount of each request must be limited to eligible costs as determined by Orange County staff. C. Said funds shall be disbursed by check payable to the Owner. D. HOME and HOME CHDO funds will be a fixed subsidy provided in the form of a grant. II. AMOUNT OF HOME FUND/GRANT TERMS A. The County shall make available to the Owner up to One Hundred Forty-Five Thousand Two Hundred and One Dollars ($145,201) pursuant to this Agreement, Eighty-Five Thousand Dollars($85,000)of which are FY 2019-20 HOME funds and Sixty Thousand Two Hundred and One Dollars ($60,201) of which are FY 2018-19 HOME CHDO Set- Aside funds. Said funds shall be disbursed by the County to the Owner for performance of the services described in Exhibit B. III. LIEN POSITION Not Applicable IV. TIMELINESS Owner shall complete the Project within six(6)months from the date of this Agreement. However, in the event of any alterations or additions or circumstances beyond the control of the Owner, which in the opinion of the Director of the County's Department of Housing and Community Development will require additional time for completion of the Project, then in that case, the time of completion shall be extended by the County Manager in writing for a period of time not to exceed six (6) months. Any further extensions will require the approval of the Orange County Board of County Commissioners.