05-14-2025 Council Packet - Laserfiche WebLink

Home Browse Search

2 8. Authority has determined that Grantee has the necessary expertise, skill and ability to successfully complete the Project Activities and the Project as a whole. 9. The City of Little Canada has by majority vote approved the Project Activities by Resolution. 10. Authority agrees to provide a Grant in the amount of Two Hundred Fifty Thousand and no/100 Dollars ($250,000.00) (“Funds”) to Grantee pursuant to the Program and Authority’s Resolution No. H2024-011. NOW THEREFORE, in order to induce Authority to make the Grant to Grantee, and in consideration of the mutual covenants and agreement contained herein, Authority and Grantee agree as follows: ARTICLE 1 TERMS OF GRANT Section 1.01 Grant Amount. Authority agrees to provide this Grant to Grantee in the amount of not to exceed Two Hundred Fifty Thousand and no/100 Dollars ($250,000.00) upon the terms and conditions and for the purposes set forth in this Agreement. The Grant constitutes a grant of funds, and no portion of the Grant is to be repaid by Grantee to Authority unless mutually agreed to by all parties as part of this Agreement or an Event of Default (as defined below) occurs. Section 1.02 Documents Delivered with Agreement. Prior to, or contemporaneously with the execution of this Agreement, Grantee has delivered to Authority the following documents and/or instruments, each of which will be in a form acceptable to Authority. A. Evidence of the insurance coverages required by this Agreement in a form acceptable to Authority, to be submitted on an annual basis on the anniversary date of this Agreement. B. Certificate of an authorized member of Grantee with Resolution of Grantee, authorizing the execution and delivery of this Agreement and any other documents described in this Agreement. C. The Certification Regarding Debarment, Suspension, Ineligibility, and Voluntary Exclusion – Lower Tier Covered Transactions as set forth in Exhibit C. Section 1.03 Use of Funds. Grantee agrees to use the Funds solely for the purposes and activities described in the Project Activities. The Grant shall not be used for (a) costs in the Project Activities that are not eligible Program Activities, or (b) administration expenses (each an “Ineligible Activity”). Labor costs are only eligible to be covered if the labor is done by a third- party who has no financial interest in the Project, as defined herein, other than the value of such work.