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City of Everett/Interfaith Association <br /> 2018 M&O 2060 Agreement <br /> City of Everett <br /> 2060 Housing Trust Fund Agreement <br /> This 2060 Housing Trust Fund Agreement (the "HTF Agreement" or the "Agreement") by and <br /> between Interfaith Association of Western Washington (hereinafter"the Grantee") and the City of <br /> Everett (hereinafter "the City") maintenance and operations of a homeless family shelter <br /> (hereinafter"the Project"). <br /> RECITALS: <br /> A The C,rantee is a non-profit corporation ornani7ed and axistinn finder the laws of the State of <br /> Washington. <br /> B. The City is a municipal corporation of the State of Washington. <br /> C. The City has available in its 2060 Housing Trust Fund certain money to be used to support <br /> housing projects or units within housing projects that are affordable to Very Low-Income <br /> persons. "Very Low-Income" means gross annual household income (at the time of initial <br /> orriinanry) is not more than fifty Warrant (5n%) of the annual median income for the SPattla- <br /> Bellevue-Everett metropolitan statistical area, adjusted for household size, as estimated from <br /> time to time by the U.S. Department of Housing & Urban Development (HUD). <br /> D. The Grantee desires to use 2060 funds for maintenance and operations for its homeless family <br /> shelter located at 2520 Cedar Street, Everett, WA to provide housing to homeless and very <br /> low-income persons. The Grantee and the City desire that the Grantee's homeless family <br /> shelter be used for the provision of emergency housing to homeless families. <br /> E. By Resolution No. 7118, the City Council of the City of Everett authorized funding from the <br /> 2060 Housing Trust Fund for the Project, in an amount not to exceed $57,000.00. <br /> NOW, THEREFORE, in consideration of their mutual promises herein contained, the parties <br /> hereto agree as follows: <br /> I. GRANT TERMS <br /> A. The Grant <br /> The Grantee is hereby provided a grant in the amount of$57,000.00 (the Grant). <br /> This grant shall be considered a grant. The Grantee will receive payment on a <br /> reimbursement basis for eligible maintenance and operation expenditures for the <br /> homeless family shelter operated by the Grantee. <br /> 1 <br />