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City of Everett <br /> 2022 2060 Agreement <br /> City of Everett <br /> 2060 Housing Trust Fund Agreement <br /> This 2060 Housing Trust Fund Agreement(the"2060 HTF Agreement" or the"Agreement")by and <br /> between Interfaith Association of Northwest Washington(hereinafter"the Grantee" or"Owner")and <br /> the City of Everett(hereinafter"the City")operations of a homeless family shelter(hereinafter"the <br /> Project"). <br /> RECITALS: <br /> A. The Grantee is a non-profit corporation organized and existing under the laws of the State of <br /> Washington. <br /> B. The City is a municipal corporation of the State of Washington. <br /> C. The City has available in its 2060 Housing Trust Fund certain money to be used to support housing <br /> projects or units within housing projects that are affordable to Very Low-Income persons. "Very Low- <br /> Income" means gross annual household income (at the time of initial occupancy) is not more than <br /> fifty percent (50%) of the annual median income for the Seattle-Bellevue-Everett metropolitan <br /> statistical area, adjusted for household size,as estimated from time to time by the U.S. Department <br /> of Housing& Urban Development(HUD). <br /> D. The Grantee desires to use 2060 funds for operations for its homeless family shelter located at 2520 <br /> Cedar Street, Everett, WA 98201 to provide housing to homeless and very low-income persons. The <br /> Grantee and the City desire that the Grantee's homeless family shelter be used for the provision of <br /> emergency housing to homeless families. <br /> E. By Resolution No. 7748, the City Council of the City of Everett authorized funding from the 2060 <br /> Housing Trust Fund for the Project,in an amount not to exceed $63,000.00. <br /> NOW,THEREFORE, in consideration of their mutual promises herein contained,the parties hereto agree <br /> as follows: <br /> GRANT TERMS <br /> A. The Grant <br /> The Grantee is hereby provided a grant in the amount of$63,000.00(the Grant). This grant <br /> shall be considered a grant. The Grantee will receive payment on a reimbursement basis for <br /> eligible operation expenditures for the homeless family shelter operated by the Grantee. <br /> 1 <br />