Laserfiche WebLink
9 <br /> Agency account, and the ADDI program or project receiving each disbursement from the <br /> Agency account. Any balance on hand in the Agency account must be disbursed for eligible <br /> costs under any ADDI program or project of the Agency before the Agency may withdraw ADDI <br /> funds from the County for this or any other ADDI program or project. When this operation <br /> results in an unintended transfer of funding resources from one program or project to another, <br /> the Agency may request the County to execute compensating, offsetting amendments to the <br /> respective ADDI award amounts, if the respective ADDI agreements have not been terminated <br /> or closed. If the respective ADDI agreements have been terminated or closed, the Agency may <br /> remit Program Income to the County and request that the County execute a corresponding new <br /> award. <br /> 3. The Agency shall submit a quarterly report of Program Income receipts to <br /> and disbursements from the Agency account in the form of Attachment I. The Agency shall <br /> also maintain records sufficient to allow it to estimate, as accurately as is feasible, the total <br /> amount of ADDI Program Income that will be received from all of the Agency's ADDI-assisted <br /> activities during the next ensuing July 1 to June 30 twelve-month period, and shall report that <br /> estimated amount to the County by October 1 of the current calendar year. <br /> 4. Upon expiration or termination of this Agreement, as provided in Section <br /> I-E or Section VI-B hereof, the Agency shall remit to the County the balance of Program Income <br /> on hand, and assign and convey to the County title to all Program Income receivables. <br /> Thereafter the Agency shall remit to the County any Program Income amounts received for so <br /> long as the County continues to be a Participating Jurisdiction (as defined at 24 CFR Part 92) in <br /> the HOME Program. <br /> 5. If the County ceases to be a Participating Jurisdiction before the end of <br /> the term of this Agreement, the Agency shall at that time remit to the County any on hand <br /> Program Income comprised of funds which were Recaptured during the minimum period of <br /> affordability pursuant to 24 CFR § 92.254(a)(5)(ii). The County in turn shall remit such funds to <br /> HUD. Thereafter, all funds Recaptured pursuant to 24 CFR § 92.254(a)(5)(ii) during the <br /> minimum period of affordability shall be immediately remitted to the County, in perpetuity, and <br /> the County shall remit such funds to HUD. All other Program Income then on hand or received <br /> after the date the County ceases to be a Participating Jurisdiction may be retained by the <br /> Agency, for use as provided in Section IV-H-1 above, during the term of this Agreement. At the <br /> time that this Agreement expires or is terminated, all such Program Income on hand shall be <br /> remitted to the County. Thereafter, Program Income received by the Agency, other than <br /> Recaptured funds, is no longer subject to this Agreement or to HOME Program regulations, and <br /> thus may be retained and used by the Agency without restriction. <br /> V. RECORDS AND REPORTS <br /> The Agency agrees to maintain the following records and submit the following reports in order <br /> to assist the County in meeting its recordkeeping and reporting requirements: <br /> ADDI Agreement between Page 14 of 23 <br /> City of Everett and Snohomish County <br /> f9 <br />