Resolution 2016-16 - Laserfiche WebLink

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consistent with the terms and conditions of this Agreement, the Delegate shall, in writing, request the written approval of the City. No reimbursement shall be made for any such expenditure or activity that does not receive this prior written approval of the City. 3. FUNDS AUTHORIZED AND SCHEDULE OF PAYMENTS. Subject to the receipt of funds from the State of Colorado, the City will reimburse the Delegate for expenditures, verified by vouchers and similar documentation, authorized by Appendix A. For work subject to this Agreement, the Delegate shall submit, as an invoice, a financial statement of expenses incurred. Within ten (10) working days of receipt of the invoice, the City will determine, in its reasonable discretion if those expenditures are authorized by Appendix A, and if so authorized, make payment of approved expenditures or notify the Delegate in writing of its decision to disapprove, and of any conditions to be met for approval. In no event will the Delegate receive reimbursement in excess of the total amount of CDBG-DR funds authorized by this Agreement and detailed in the budget set forth in Appendix B. 4. PROGRAM INCOME. Program income, as defined at 24 CFR 570.504, generated by the Delegate, will be sent to the City while the Grant Agreement under B -13 -DS - 08 -001 with DOLA remains open and will be used for other CDBG-DR eligible activities under the sub -allocation as determined by the Collaborative. Program income received after the Grant Agreement with DOLA is closed out can be retained and used by the Delegate that is a CDBG entitlement jurisdiction for any CDBG eligible use. Program income received by a Delegate that is not a CDBG entitlement jurisdiction after the Grant Agreement with DOLA is closed out, will be returned to the City and the City will place the program income in the Countywide Down Payment Assistance Program account to be used throughout the county for allowable down payment assistance expenses. Appropriate documentation of the receipt and use of program income during the term of this Agreement will be provided to the City. 5. REVERSION OF ASSETS. Upon the expiration or termination of this Agreement, the Delegate shall transfer any CDBG-DR funds on hand at that time and any accounts receivable attributable to the use of CDBG-DR funds to the City. Any real property under the Delegate's control that was acquired or improved in whole or in part with CDBG-DR funds in excess of $25,000 must either: (A) Be used to meet one of the national objectives outlined in the March 5, 2013, Federal Register Notice (78 FR 14329) or 24 CFR 570.208 until five (5) years after the expiration of this Agreement. If however, the real property being acquired is part of a buyout or flood mitigation acquisition where the future and on-going use of the property is restricted in accordance with HUD rules, then the undeveloped real property will be considered to meet the HUD national objective; OR (B) Be disposed of in a manner that results in the City being reimbursed in the amount of the current fair market value of the property, less any portion of the value attributable to expenditures of non-CDBG-DR funds for acquisition of, or improvements to, the property. 2 L.\FRIEDLAN\My Documents L\CDBG\2016 CDBG-DR IGA Loulsvdle_FINAL.docx 3/15/2016