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Agenda - 06-16-20; 8-o - North Carolina Housing Finance Agency (NCHFA) – 2020 Essential Single-Family Rehabilitation Loan Pool (ESFRLP20) Award
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Agenda - 06-16-20; 8-o - North Carolina Housing Finance Agency (NCHFA) – 2020 Essential Single-Family Rehabilitation Loan Pool (ESFRLP20) Award
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6/18/2020 8:57:43 AM
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BOCC
Date
6/16/2020
Meeting Type
Business
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Agenda
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8-o
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Agenda 06-16-20 Virtual Business Meeting
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\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 06-16-20 Virtual Business Meeting
Minutes 06-16-2020 Virtual Business Meeting
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\Board of County Commissioners\Minutes - Approved\2020's\2020
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21 <br /> 13. ESFRLP Funds ox-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. Super circular., 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 /> 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 /> 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. SubAwar'd <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 fbr 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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