Agenda Packets - 2026/01/05 (2) - Laserfiche WebLink

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Bids: Only one 1 estimate is required. Allcontractors must be properly licensed or registered. Sweat Equity / Homeowner Labor: Work may be performed by property owners on a "sweat equity" basis, but only the purchase of materials and rental of tools or equipment will be considered an EligibleProject Expense. Recipient Paid Fees: None Deadline for Work Completion: All work must be completed within 120 days of the grant closing. Extensions may be granted by CEE due to weather or similar factors. General Program Conditions Application Processing: Loans and Grants will be distributed on a first come first serve basis as applicants qualify. Applicants must provide a completed application package including the following in order to be considered for funding. ➢ Completed and signed application form ➢ Proof of income ➢ Bids or estimates for proposed projects ➢ Other miscellaneous documents CEE may require Contractors/Permits: Contractors must be properly licensed. Permits must be obtained when required by City ordinance. Program Costs: Loan origination, post installation inspection and remodeling advisor visit fees will be paid per the Program Budget. Loan program marketing efforts will be billed directly to the City of Mounds View EDA and is a separate expense should the City of Mounds View EDA choose to commission CEE for marketing support. Borrowers will pay all mortgage filing fees and related closing costs. Total Proiect Cost: It is the borrower's responsibility to obtain the amount of funds necessary to finance the entire cost of the work. In the event the final cost exceeds the original loan or grant amount, the borrower must obtain the additional funds and show verification of the additional funds in order to be approved for the loan. Disbursement Process: Payment to the contractor (or owner in sweat equity situations) will be made upon completion of work. An inspection will be performed by a City Inspector and/or CEE to verify the completion of the work. The following items must be received prior to final disbursement of funds: • Final invoice or proposal from contractor (or materials list from supplier); • Final inspection verification by a City Inspector (or CEE); • Completion certificate(s) signed by borrower and contractor; • Lien waiver for entire cost of work; and • Evidence of City permit (if required). Exhibit A7 Page 7 Agreement between the City of Mounds View and Center for Energy and Environment