03-13-2023 City Council Packet - Laserfiche WebLink

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29 Entity shall supply to the Commissioner of MMB whatever documentation the Commissioner of MMB may request to substantiate the availability and source of any matching funds, and the source and terms relating to all matching funds must be consented to, in writing, by the Commissioner of MMB. Section 7.24 Source and Use of Funds. The Public Entity represents to the Council and the Commissioner of MMB that Attachment III is intended to be and is a source and use of funds statement showing the total cost of the Project and all of the funds that are available for the completion of the Project, and that the information contained in such Attachment III correctly and accurately delineates the following information. A.The total cost of the Project detailing all of the major elements that make up such total cost and how much of such total cost is attributed to each such major element. B.The source of all funds needed to complete the Project broken down among the following categories: (i)State funds including the Program Grant, identifying the source and amount of such funds. (ii)Matching funds, identifying the source and amount of such funds. (iii)Other funds supplied by the Public Entity, identifying the source and amount of such funds. (iv)Loans, identifying each such loan, the entity providing the loan, the amount of each such loan, the terms and conditions of each such loan, and all collateral pledged for repayment of each such loan. (v)Other funds, identifying the source and amount of such funds. C.Such other financial information that is needed to correctly reflect the total funds available for the completion of the Project, the source of such funds and the expected use of such funds. Previously paid project expenses that are to be reimbursed and paid from proceeds of the Program Grant may only be included as a source of funds and included in Attachment III if such items have been approved, in writing, by the Commissioner of MMB. If any of the funds included under the source of funds have conditions precedent to the release of such funds, then the Public Entity must provide to the Council and the Commissioner of MMB a detailed description of such conditions and what is being done to satisfy such conditions. The Public Entity shall also supply whatever other information and documentation that the Council or the Commissioner of MMB may request to support or explain any of the information contained in Attachment III. The value of the Public Entity’s ownership interest in the Real Property and, if applicable, Facility should only be shown in Attachment III if such ownership interest is being acquired and paid for with funds shown in such Attachment III, and for all other circumstances such value