Cocoon House 4/19/2018 - Laserfiche WebLink

SNOHOMISH COUNTY CITY OF EVERETT HOME INVESTMENT PARTNERSHIPS PROGRAM PROJECT AGREEMENT WHEREAS, the federal government has enacted the National Affordable Housing Act, which created the HOME Investment Partnerships Program ("HOME Program") administered by the United States Department of Housing and Urban Development ("HUD") through regulations at 24 Code of Federal Regulations ("CFR") Part 92 ("HOME Regulations"); and WHEREAS, Snohomish County, a political subdivision of the State of Washington, is a HOME Investment Program Participating Jurisdiction, (hereinafter "the Count}'), and receives annual allocations of funds from HUD under the HOME Program; and WHEREAS, Snohomish County and the City of Everett, a municipal corporation of the State of Washington, (hereinafter "the City), have entered into a HOME Consortium Interlocal Agreement Among Snohomish County, City of Everett and City of Marysville For Program Years 2012 Through 2014, dated September 2, 2011, as renewed and amended via Amendment 1 in 2014, with the County as the Representative Member of the Consortium, and with the Interlocal Agreement periodically renewed, including under the Snohomish County HOME Consortium for Program Years 2018-2020, (hereinafter"Interlocal Agreement"),; and WHEREAS, the Interlocal Agreement provides twenty-one percent (21%) of the available HOME funds ("City HOME Funds") to be awarded to eligible project proposals selected by the City, in which Everett may function as the operating Entity; and WHEREAS, the County and City, in turn, award HOME Program funds ("HOME funds") to public and private non-profit Agencies ("Agencies"), for projects and programs to develop housing, rehabilitate housing, or otherwise assist in providing affordable housing to meet the needs of lower income families throughout the County; and WHEREAS, the affordable housing needs that guide the County's distribution of these funds are identified and assessed in the County's 2015-2019 Consolidated Plan for Housing and Community Development (the "Consolidated Plan"), which identifies rental housing opportunities for households with incomes at or below 80% of the area median income as an important housing need; and WHEREAS, the Snohomish County Council by Motion No. 16-169, approving the PY16 Action Plan, and by Motion No. 17-121, approving the PY 17 Action Plan; allocating funding to the City of Everett for an affordable housing project; and WHEREAS, the Everett City Council approved an award of a portion of the City's HOME funds to Colby Avenue Youth Center, an affordable housing project by Resolution 7118; and WHEREAS, the City of Everett seeks to provide HOME financing to Cocoon House, for an affordable housing project as further described herein, NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, the parties agree in this HOME Project Agreement, ("HOME Project Agreement") as follows: HOME Project Agreement Snohomish County—City of Everett HCS-18-42-1617-198 Page 1 of 6