03-22-2000 Council Agenda - Laserfiche WebLink

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AUTHORITY. Termination dates for individual projects shall be specified in the appropriate exhibits. The termination date may be changed through amendment of this Agreement. In general, a project is expected to be completed within 24 months from the date which the Agreement is executed. Projects which do not show substantial progress within the timespan specified in the application may be terminated at the sole discretion of the AUTHORITY upon 30 days written notice to the AGENCY. 4. ADMINISTRATION A. The AGENCY shall appoint a liaison person who shall be responsible for the overall administration of block grant funded project(s) and coordination with the AUTHORITY. The AGENCY shall also designate one or more representatives who shall be authorized to sign the monthly Voucher and Reporting Form. The names of the liaison persons and representatives shall be specified in the exhibits. B. For all agencies which are presently parties to Joint Cooperation Agreements with the AUTHORITY covering planning, distribution of funds, and program execution under the Act, the AGENCY remains subject to the provisions of such agreement. 5. COMPENSATION AND METHOD OF PAYMENT A. The AUTHORITY shall reimburse the AGENCY for the services specified in the exhibits in an amount not to exceed $95,000.00. Reimbursement shall be based on a Community Development Voucher and Reporting Form submitted with supporting documents and signed by the AGENCY's authorized representative. B. These funds shall be repaid to AUTHORITY by the AGENCY in accordance with the terms of a promissory note ( "NOTE ") of even date herewith, a copy of which is attached hereto and made a part hereof. C. In the event the AGENCY receives any Program Income it shall return it to the AUTHORITY within forty -five (45) days of receipt. 6. OPERATING BUDGET The AGENCY shall apply the funds received from the AUTHORITY under this Agreement in accordance with the requirements of the exhibit(s) attached hereto. 7. FUNDING ALTERNATIVES AND FUTURE SUPPORT A. The AGENCY shall report all Program Income generated under this Agreement or generated through the project(s) funded under this Agreement. In the event the AGENCY receives any Program Income it shall, in the sole discretion of, and at the direction of at the AUTHORITY, either utilize it solely for the purposes set forth in this Agreement or return it to the AUTHORITY. At the end of the program year the Page 124 Little Canada Sub -recip agreement (14008)