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9 <br /> approve these forms prior to their use by the Agency. Any subsequent proposed revisions to <br /> either the written agreement with homeowners or the deed of trust shall be submitted to the <br /> County for its review and approval. <br /> IV. FISCAL MANAGEMENT <br /> A. Eligible Costs <br /> Disbursements shall be made to the Agency under this Agreement only for certain "eligible <br /> project costs," as that term is defined in 24 CFR § 92.206, and, if approved by HUD, for certain <br /> "pre-award costs" pursuant to 24 CFR § 92.212. In no event, however, shall disbursement be <br /> made to the Agency for costs not included in the Project Budget attached as Attachment B to <br /> this Agreement. <br /> No expenditure of ADDI funds shall be made for "prohibited activities," as that term is defined in <br /> 24 CFR § 92.214. <br /> B. Payment and Disbursements <br /> The Agency may not request disbursement of funds under this Agreement until the funds are <br /> needed for the payment of eligible Project costs. The amount of each request shall be limited <br /> to the amount needed. Program Income (as that term is defined in Section IV-H-1 hereof) must <br /> be disbursed before the Agency requests funds from the County. <br /> Disbursements by the County pursuant to this Agreement shall be on a reimbursement basis, <br /> covering Project obligations incurred but not paid by the Agency. These funds shall be <br /> managed through the County's HOME Investment Trust Fund account (the "HOME Investment <br /> Fund") utilizing the Integrated Disbursement and Information System ("IDIS") described in 24 <br /> CFR § 92.502, in the following manner: <br /> 1. The Agency's Project staff will prepare within the time required by 24 CFR <br /> § 92.502(b) all needed documentation to complete a Project Set-up Report (Form HUD-40094) <br /> for each individual approved ADDI-assisted activity. <br /> 2. The Agency shall submit a Request for Reimbursement/Actual Expenditure <br /> Report (Attachment E), a Report of Actual Expenditures (Attachment F), along with the <br /> Homebuyer Set-up and Completion Report (Attachment G), and a copy of the closing <br /> statements for purchase assistance made with ADDI funds or ADDI Program Income funds. <br /> Each Request for Reimbursement shall be submitted to the County with adequate notice to <br /> allow processing by the County. <br /> 3. A check will be drawn by the County for Project needs within fifteen (15) <br /> calendar days of receiving the requested HUD funds from the U.S. Treasury and will be <br /> promptly forwarded to the Agency Project staff contact person for disbursal. <br /> 10 <br /> ADDI Agreement between Page 11 of 23 <br /> City of Everett and Snohomish County <br />