City Council Agenda and Packet 2012 07 02 SP

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year on the Integrated Disbursement Information System ( "IDIS ") within twelve months of the last day of the month in which HUD notifies the Lead Agency of HUD's execution of the HOME Investment Partnership Agreement containing the funds, the Lead Agency shall first allow the Participating Government to reallocate the funds to another project in its jurisdiction. If that is not possible, the Lead Agency shall then attempt to reallocate the HOME funds to projects already approved for funding by the other Participating Governments, either through a pro -rata share to the Participating Governments based on their normal funding allocation schedule set forth in Section IILg. or for one or more distinct projects as nominated and approved by the Consortium members. Any of these funding scenarios are with the caveat that the Participating Governments to which the funds are allocated can assure that it can commit the HOME funds on the federal system (IDIS) prior to the recapture of the HOME funds by HUD and can meet the matching requirements. If the other Participating Governments are not able to disburse the funds to previously funded projects, the funds shall be disbursed through a competitive process to the Participating Governments and Lead Agency for HOME eligible projects. Any funds in the United States Treasury Account, established by HUD for the Consortium HOME funds, that are not committed within 24 months of the last day of the month in which HUD notifies the Lead Agency of HUD's execution of the HOME Investment Partnership Agreement will be recaptured by HUD. 6. Except as amended herein, the Intergovernmental Agreement shall remain in full force and effect. 7. This Second Amendment to the Intergovernmental Agreement may be executed in several duplicative counterparts, each of which shall be deemed an original of this Second Amendment for all purposes. 4 7