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1. The City shall administer HOME Investment Partnership Program funds in compliance with the <br /> HOME Investment Partnerships Program ("HOME Program") administered by the United States <br /> Department of Housing and Urban Development ("HUD") through regulations at 24 Code of <br /> Federal Regulations ("CFR") Part 92 ("HOME Regulations"). <br /> 2. The City shall administer HOME funds consistent with the terms of the HOME Consortium <br /> Interlocal Agreement among Snohomish County, City of Everett and City of Marysville For <br /> Program Years 2012 through 2014, including Amendment 1 in 2014, and as periodically renewed, <br /> including for Program Years 2018-2020. <br /> 3. The City seeks to award HOME Investment Partnership Program funds to the following project: <br /> A. Project Sponsor: Cocoon House <br /> B. Project Borrower/Agency: Cocoon House <br /> C. Project Name: Colby Avenue Youth Center <br /> D. Project Address:3530 Colby Avenue, Everett, WA 98201 <br /> E. Legal Description: Lots 17 through 26, inclusive, Block 6, Friday's First Addition to <br /> Everett, according to the Plat thereof recorded in volume 3 of Plats, page 34, records <br /> of Snohomish County, Washington; Except the East 15 feet thereof dedicated for <br /> streets purposes. Situated in the County of Snohomish, State of Washington. <br /> F. Project Description: A new multi-service facility to provide housing, a drop-in center, <br /> a kitchen and dining area, and social service and administrative areas. The <br /> residential portion of the Project will provide 40 units of supportive housing for youth <br /> and young adults who are homeless or at risk of homelessness in Snohomish <br /> County. <br /> G. Estimated HOME Funding Award: $300,000 <br /> H. HOME Program Years: 2016 ($268,999) and 2017 ($31,001) <br /> 4. The terms of the HOME Loan Agreement between the City of Everett and the Agency/Borrower <br /> shall be in substantially the form of the attached Exhibit A (Agency HOME Loan Agreement), <br /> which is hereby incorporated into this HOME Project Agreement by reference. <br /> a. As may be necessary, the City of Everett may modify the terms of the attached Agency <br /> Project HOME Loan Agreement, provided the terms remain consistent with the HOME <br /> Regulations referenced herein. <br /> 5. The City shall provide, at the County's request, a copy of the final Agency HOME Loan <br /> Agreement prior to execution, for review and comment. <br /> SIGNATURE PAGE FOLLOWS <br /> HOME Project Agreement <br /> Snohomish County—City of Everett <br /> HCS-18-42-1617-198 <br /> Page 2 of 6 <br />