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date which the Agreement is executed. Projects which do not show substantial progress <br />within the timespan specified in the application may be terminated at the sole discretion of <br />the AUTHORITY upon 30 days written notice to the AGENCY. <br />4. ADMINISTRATION <br />A. The AGENCY shall appoint a liaison person who shall be responsible for the overall <br />administration of block grant funded project(s) and coordination with the <br />AUTHORITY. The AGENCY shall also designate one or more representatives who <br />shall be authorized to sign the monthly Voucher and Reporting Form. The names of <br />the liaison persons and representatives shall be specified in the exhibits. <br />B. For all agencies which are presently parties to Joint Cooperation Agreements with the <br />AUTHORITY covering planning, distribution of funds, and program execution under <br />the Act, the AGENCY remains subject to the provisions of such agreement. <br />5. COMPENSATION AND METHOD OF PAYMENT <br />A. The AUTHORITY shall reimburse the AGENCY for the services specified in the <br />exhibits in an amount not to exceed $140,000.00. Reimbursement shall be based on a <br />Community Development Voucher and Reporting Form submitted with supporting <br />documents and signed by the AGENCY's authorized representative. <br />B. The AGENCY shall submit a properly executed Voucher and Reporting Form no <br />later than fifteen (15) working days after the close of each billing period. The <br />AUTHORITY will make payment to the AGENCY not more than twenty -one (21) <br />working days after said invoice is received and approved by the AUTHORITY. The <br />AUTHORITY will issue a statement of correction voucher in the event that the <br />voucher request is erroneous. Payment does not constitute absolute approval. <br />C. In the event the AGENCY receives any Program Income it shall, in the sole <br />discretion of, and at the direction of the AUTHORITY, either utilize it for the <br />purposes set forth in this Agreement or return it to the AUTHORITY. At the end of <br />the program year the AUTHORITY may require remittance of all or part of any <br />program income balances (including investments thereof) held by the AGENCY <br />(except those needed for immediate cash needs, cash balances of a revolving loan <br />fund, cash balances from a lump sum drawdown, or cash or investments held for <br />Section 108 security needs). <br />6. OPERATING BUDGET <br />The AGENCY shall apply the funds received from the AUTHORITY under this <br />Agreement in accordance with the requirements of the exhibit(s) attached hereto. <br />Page 9 <br />