2007/05/16 Council Agenda Packet

J exclusion or placement in ineligibility status of such contractor or subrecipient under the provisions of 24 CFR Part 24. The Agency represents and warrants that the Agency is not debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from participation in federal assistance programs under such regulations or Executive Orders 12549 and 12689, "Debarment and Suspension." The Agency will also not provide any loan funds to persons listed on the Excluded Parties List System. All potential loan applicants must be searched on the Excluded Parties List and verification must be included in their files. The Excluded Parties List System can be checked at the following web-site: http://epls.arnet.gov. III. PROJECT REQUIREMENTS A. Maximum and Minimum Per-Unit Subsidy Amounts The minimum amount of combined ADDI and HOME funds that may be invested in a project is $1,000. The maximum amount of ADDI assistance provided to any household may not exceed the greater of(1) six percent (6%) of the purchase price of a single family housing unit or (2) $10,000. The Agency will manage its homebuyer purchase assistance project so that the funding provided under this Agreement shall be in full compliance with the limitations contained in the HOME Regulations and ADDI Regulations including, but not limited to, the limitations contained in 24 CFR § 92.602(e) relating to maximum homebuyer down-payment assistance to be made with ADDI funds. The Agency will maintain records, which records shall be available for inspection by the City and HUD at the times and as provided in Section V-B-4 hereof, demonstrating that assistance provided to each and every homebuyer has been made in compliance with those limitations. If both ADDI and HOME funds are used, the total amount invested on a per-unit basis may not exceed the per-unit dollar limits established under section 221(d)(3)(ii) of the National Housing Act (12 U.S.C. § 17151(d)(3)(ii)) for elevator-type projects. Applicable limits for the King, Snohomish, Pierce and Kitsap Area are produced by the Multifamily Division in the Area HUD Field Office and will be made available to the Agency by the County upon written request. B. Property Standards The housing acquired with HOME and ADDI funds under this Agreement must meet (i) the property standards contained in 24 CFR § 92.251 at the times required by that section and (ii) the lead-based paint requirements contained in 24 CFR § 92.355 upon project completion. HOME and ADDI Agreement between City of Everett and HomeSight 10 J