Laserfiche WebLink
Agency shall fully commit the 2016 HOME funds provided under this <br /> agreement to homeowners for housing rehabilitation loans for the Project <br /> in accordance with the terms hereof by August 31, 2018. <br /> 2. On the ending date indicated above, the Agency shall no longer be <br /> entitled to commit funds for the Project pursuant to this Agreement. If the <br /> Agency does not fully commit the funds by the date indicated, the <br /> allotment to the Agency referred to in Section I hereof shall be reduced by <br /> the amount so not committed, PROVIDED, HOWEVER, that this limitation <br /> shall not apply to the Program Income generated from repayments of the <br /> initial HOME-funded loans, which Program Income shall be used to fund <br /> additional rehabilitation loans to qualified homeowners. <br /> F. Term for Expenditure of HOME Funds <br /> 1. The Agency shall fully expend the HOME funds provided under this <br /> Agreement for the Project in accordance with the terms hereof by August <br /> 31, 2021. <br /> 2. On the ending date indicated above, the Agency shall no longer be <br /> entitled to draw against the corresponding HOME funds pursuant to this <br /> Agreement. If the Agency does not fully expend the funds by the date <br /> indicated, the allotment to the Agency referred to in Section I hereof shall <br /> be reduced by the amount not so expended, PROVIDED, HOWEVER, <br /> that this limitation shall not apply to the Program Income generated from <br /> repayments of the initial HOME-funded loans, which Program Income <br /> shall be used to fund additional rehabilitation loans to qualified <br /> homeowners. <br /> G. Agency Operations <br /> The Agency shall provide administrative, fiscal, and management services for <br /> the Project in accordance with this Agreement, the HOME Program statutes <br /> (including the Act), and the HOME Regulations. In addition, the Agency shall <br /> take reasonable steps to ensure meaningful access to its programs and <br /> activities by persons with limited English proficiency, and shall be guided in <br /> those efforts by HUD's "Final Guidance to Federal Financial Assistance <br /> Recipients Regarding Title VI Prohibition Against National Origin <br /> Discrimination Affecting Limited English Proficient Persons; Notice," at 72 <br /> Federal Register 2731 (January 22, 2008). <br /> H. Obligations Following Termination <br /> Following expiration or termination of this Agreement, the Agency's <br /> obligations to the County shall remain in full force and effect until all closeout <br /> Exhibit A-2 <br /> HCS-16-42-1601-198(2) <br /> City of Everett <br /> Page 3 of 24 <br />