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"Regulations" means the rules and regulations promulgated pursuant to the Act, including but not <br />limited to 24 CFR Parts 91 and 92, as amended. <br />II. PURPOSE <br />The purpose of this IGA is to form a Consortium of units of general local government for <br />designation as a PJ under the Act, said PJ is to be known and hereinafter referred to as the Boulder - <br />Broomfield Regional HOME Consortium or the Consortium, as defined herein. <br />III. GENERAL PROVISIONS <br />1. Term. The term of this IGA commences October 1, 2025, and runs through September 30, <br />2027. This IGA shall remain in effect during the period necessary to complete all eligible activities <br />funded during federal fiscal years 2026 and 2027. These three federal fiscal years comprise the <br />Consortium's qualification period, and the Consortium Members are prohibited from withdrawing <br />from the IGA during this period. Pursuant to 24 CFR 92.101(e), no member of the Consortium <br />may withdraw from this IGA while this IGA remains in effect. <br />2. Renewal. This IGA shall automatically be renewed for the Consortium's participation in <br />successive qualification periods of three federal fiscal years each. No later than the date specified <br />by HUD's consortia designation notice or HOME consortia web page, the Lead Entity shall notify <br />each Consortium Member in writing of its right to decide not to participate in the Consortium for <br />the next qualification period and the Lead Entity shall send a copy of each notification to the HUD <br />Field Office. If a Consortium Member decides not to participate in the Consortium for the next <br />qualification period, the Consortium Member shall notify the Lead Entity, and the Lead Entity <br />shall notify the HUD Field Office, before the beginning of the new qualification period. <br />3. Notices. The Lead Entity shall provide a minimum of 30 days advance written notice to <br />each Consortium Member of the program requirements to be in effect for subsequent <br />federal fiscal years or qualifying periods. Notice shall be sent by the Lead Entity to the <br />following: <br />Housing Program Manager <br />City and County of Broomfield <br />One Descombes Drive <br />Broomfield, CO 80020 <br />Director <br />Boulder County Housing Division <br />P.O. Box 471 <br />Boulder, CO 80306 <br />Housing and Community Investment Manager <br />Civic Center Complex <br />350 Kimbark Street <br />Longmont, CO 80501 <br />3 <br />