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HomeMy WebLinkAboutDepartment of Community Affairs (2) Augusta Richmond GA DOCUMENT NAME: dq::fr. U CDffi'(Y'U{\\\"\j oS-QOJ1 S DOCUMENT TYPE: ~X~~~ YEAR: Ql BOX NUMBER: 03 FILE ~UMBER: \'2:d\L1 NUMBER OF PAGES: ~~( ,Iii; _ ';1 __",i{ - .5' P' ! i' .. .. , , STATE OF GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS AGREEMENT FOR TRANSFER OF HOME LOANS AGREEMENT NO. \7>1. ~F \4D\Mf - \~ \ - () ~J - 0103 ....I.:i'l THIS AGREEMENT is entered into this \..11::h.. day of '1:. <L.... 19~, by and between the Department of Community Affairs of the Stak of Georgia, (hereinafter referred to as the "Department") and the o 11 ~ 1 Ah _ IR~ (' 0 1 ~ C:m.t.A.\. her (h,yreinafter referred to as the "Recipient"). WHEREAS, the State of Georgia is interested in expanding the supply of decent, safe, sanitary and affordable housing for low and very low income Georgians; and WHEREAS, the development of partnerships between the State and units of general local governments is beneficial in the effective use of all available resources to provide more of such housing; and WHEREAS, Section 50.8.8 of O.c.G.A. provides that the Department receive and administer funds for the purposes specified therein; and WHEREAS, certain HOME Investment Partnership Act funds received by the Department from the U.S. Department of Housing and Urban development (hereinafter 'referred to as HUD) were used by, the Department to make HOME loans to residents of the Recipient's jurisdiction; and WHEREAS, certain State Recipients were selected to administer HOME programs and originate HOME loans on behalf of the Department. WHEREAS, the Department wishes to transfer ownership of these HOME loans to the Recipient for the purpose of providing the Recipient with program income to finance future housing development activities; and WHEREAS, the Recipient warrants it has the authority to receive and expend such resources for the purposes set forth herein: NOW THEREFORE, in consideration of the covenants and agreements contained herein, the parties hereto agree and covenant as follows: l.scope of Pro!!ram. ' The Department agrees to transfer and assign and the Recipient accepts ~ HOME mortgage loans, as listed in Exhibit A, which is incorporated by reference and made a part of this Agreement. The loans shall be transferred with the existing security deeds, together with the indebtedness which they secure, and any and all other documents connected with such indebtedness. In addition, a separate assignment of the security deed will be executed by the Department and the Recipient. This assignment will be recorded at the County Courthouse by the Recipient .-~ ~'ii ,'r; ~ T or within 30 days of the transfer of the HOME mortgage loans. Recipients agrees to service, cause to be serviced and/or sell the HOME loans it accepts, and to use all of the program income generated to carry out further HOME eligible activities in accordance with all applicable federal and state rules and regulations. All program income shall be placed in a local HOME Trust account in accordance with HOME regulation (HOME Rule 92.503). Up to 10% of program income may be used for HOME eligible administration costs. The Recipient may also transfer or assign the ~ HOME mortgage loans as listed in ' Exhibit A, which is incorporated by reference and made a part of this agreement, to a Community Development Corporation (CDC) which it has established and for which it is financially responsible. In the event of the dissolution of the CDC, all outstanding loans, and assets acquired with funds provided through this agreement including program income, do hereby revert immediately to the Recipient. The Recipient acknowledges that the transfer and assignment of the HOME mortgage loans to a CDC shall in no way relieve the, Recipient from responsibilities of accountability to the Georgia Department of Community Affairs and recognizes that' while it is acting as a conduit to pass funds through to the CDC, the Recipient will be held solely responsible for actions of the CDC including non-compliance with any of the responsibilities it has assumed under this agreement. 2.HOME Eli2ible Activities. HOME eligible actlvItIes are those actlvItles specified as eligible by the HOME Investment Partnership Act, as amended and specified in Exhibit B, which is incorporated by reference and made a part of this Agreement. The Recipient' agrees to use HOME Program Income in accordance with a locally adopted program plan, as may be amended from time to time. 3.Aoolicable Rules and Reg:ulations. Applicable federal and state rules and regulations are specified in Exhibit C, which is incorporated by reference and made a part of this Agreement. In addition, for those Recipients receiving Rental Rehabilitation loans as part of the loans listed in Exhibit A, the following additional requirements shall apply: 'i' ri ~ 'Ai rr 'I .&..- t " projec e rents that do not exceed the Low HOME Rent in accordance w' CFR 92.252, and w' nits must be reserved for tenants whose adjusted s annual income does not exceed 50% 0 Area Median Income adjusted amily size, and to ensure that all other units have rents t a ot exceed th . HOME Rent in accordance with 24 CFR 92.252, and which units mus eserved for tenants whose adjusted gross annual income does not exceed of the Area . n Income adjusted for family size. Verification of compli ith the rent and occupancy re . ons can be accomplished by a review 0 rent roll" provided by the landlord to the City, ever, the income of al tenants must be verified with source documentation provided to t by the o 4.ReDortine Reauirements. The Recipient agrees to provide the Department with an annual report on the status of the loans and all loan repayments and/or proceeds using the format indicated in Exhibit D, which is incorporated by reference and made a part of this Agreement. The annual. report shall be due to the Department beginning on July 31, 1998, and annually thereafter until all program incorrie has been fully expended. Any program income not expended for purposes provided for in this Agreement shall be returned to the Department. 5.Satisfaction. In the event the Department determines that in its judgment, the Recipient has failed to comply with the terms of this Agreement, has failed to complete all or a portion of the activities for which the loans were transferred, or has acted in any way contrary to the purposes of the agreement, the Recipient shall return to the Department all outstanding loans and loan proceeds remaining in the HOME Trust account upon request of the Department. IN WITNESS WHEREOF, the parties have executed this agreement as of the date first stated above. ~-'~~~~ STATEOFGEORGIA- \ ,DEPARTMENT OF COMMUNITY AFFAIRS ST A TE OF GEORGIA .\' . " . BY: -\..'- WITNESSJiJ1~~WITNESS: ~~ ~~ r't.~ N- ;dI {0'6" (orY" TIlIa doCUMIIIlIppIOV.d 81 ~i;7 nev " , .' )' l' 'j' r f .. EXHIBIT A Augusta -Richmond County LAST NAME FIRST NAME PROJECT NUMBER LOAN AMOUNT 1 Alberga Pauline 1451000018 $8,117.00 2 Anderson Essie 1451000013 $17,089.00 3 Bennett Walter & Rosetta 1451000007 $7,732.00 4 Burke Lille 1451000004 $15,467.00 5 Bush Janice 1451000021 $2,175.00 6 Carter Georgia 1451000011 $8,060.00 7 Chandler Judy Mae 1451000028 $17,778.00 8 Coleman Earlene 1451000014 $7,176.00 9 Cooper Dorothy' 1451000008 $10,112.00 10 Cummings Irene 1451000022 $13,862.00 11 Fease Linda 1451000016 $14,742.00 12 Ghann John 1451000005 $20,960.00 13 Gilchrist Janie 1451000009 $3,002.00 14 Gover Bobbie 1451000010 $7,957.00 15 Grant Harold 1451000001 $9,473.00 16 Hydrick Myrtis 1451000023 $24,482.00 17 Jones Laura 1451000017 , $15,285.00 18 Lockhart Iris 1451000006 $13,061.00 19 McCullough Cora 1451000030 $23,731.00 20 Meyers Henry & Linda 1451000026 $24,776.00 21 Mims Henry & Annie 1451000015 $14,009.00 22 Schiffler Mary 1451000003 $6,230.00 23 Thomas Eleanor 1451000020 ' $18,748.00 24 White Esther 1451000012 $8,318.00 25 Williams Addie 1451000029 $17,692.00 26 Wimberlv Maxine 1451000002 $17.108.00 Total $347,142.00 ~..... ")" ~.. ~!' f' --" i. EXHIBIT B ELIGIBLE AND PROHIBITED ACTIVITIES ~ 92.205 Eligible activities: general. (a) Eligible activities. (1) HOME funds may be used by a participating jurisdiction to provide incentives to develop and support affordable rental housing and homeownership affordability through the acquisition (including assistance to homebuyers), new construction, reconstruction, or rehabilitation of non-luxury housing with suitable amenities, including real property acquisition, site improvements, conversion, demolition, and other expenses, including financing costs, relocation expenses of any displaced persons, families, businesses, or organizations; to provide tenant-based rental assistance, including security deposits; to provide payment of reasonable administrative and planning costs; and to provide for the payment of operating expenses of community housing development organizations. The housing must be permanent or transitional housing. The specific 72 !' . I !- eligible costs for these activities are set forth in ~~ 92.206 through 92.209. (2) Acquisition of vacant land or demolition must be undertaken only with respect to a particular housing project intended to provide" affordable housing. . (3) Conversion of an existing structure to affordable housing is rehabilitation, unless the conversion entails adding one or more units beyond the existing walls, in which case, the project is new construction for purposes of this part. (4) Manufactured housi!,-g. HOME funds may be used to purchase and/or rehabilitate a manufactured housing unit, or purchase the land upon which a manufactured housing unit is located. Except for .existing, owner-occupied manufactured housing that is rehabilitated with HOME funds, the manufactured housing unit must, at the time of project completion, be connected to permanent utility hook-ups and be located on land that is owned by the manufactured housing unit owner or land for which the manufactured housing owner has a lease for a period at least equal to the applicable period of affordability . (b) Forms of assistance. (1) A participating jurisdiction may invest HOME funds as equity investments, interest-bearing loans or advances, non-interest-bearing loans or advances, interest subsidies consistent with the purposes of this part, deferred payment loans, grants. or other forms of assistance that HUD determines to be consistent with the purposes of this part. Each participating'jurisdiction has the right to establish the terms of assistance, subject to the requirements of this part. (2) A participating juqsdiction may invest HOME funds to guarantee loans made by lenders and, if required, the participating jurisdiction may establish a loan guarantee account with HOME funds. The HOME funds may be used to guarantee the timely payment of principal and interest or payment of the outstanding principal and interest upon foreclosure of the loan. The amount of the loan guarantee account must be based on a reasonable estimate of the default rate on the guaranteed loans. but under no circumstances may the amount on deposit exceed 20 percent of the total outstanding principal amount guaranteed: except that the account may include a reasonable minimum balance. While loan funds 73 J . guaranteed with HOME funds are subject to all HOME requirements, funds which are used to repay the guaranteed loans are not. (c) Minimum amount of ass~tance. The minimum amount of HOME funds that must be invested in a project involving rental housing or homeownership is $1,000 times the number of HOME-assisted units in the project. (d) Multi-unit projects. HOME funds may be used to assist one or more housing units in a multi-unit project. On'ly the actual HOME- eligible development costs (i.e. costs eligible und~r, g 92.206( a ), '(b) or (c) ) of the assisted units may be charged to the HOME program. If the assisted and non-assisted units are not comparable, the actual costs may be determined based on -a method of cost allocation. If the assisted and non~assisted units are comparable in terms of size, features and number. of bedrooms, the actual cost of the HOME- assisted uJlits can be determined by pro-rating the total HOME eligible development costs of the project so that the proportion of the total development costs charged to the HOME program does not exceed the proportion of the HOME.,assisted units in the project. ., (e) Terminated projects. A HOME assisted project that is terminated before completion, either voluntarily or otherwise, constitutes an ineligible activity and any HOME funds invested in the project must be repaid to the participating jurisdiction's HOME Investment Trust Fund in accordance with ~92.503(b) ,( except for project-specific assistance to community housing development organizations as provided in ~ 92.301(a)(3) and S 92.301(b)(3)). ~ 92.206 Eligible project costs. HOME funds may be used to pay the following eligible costs: (a) Developmelll hard costs. The actual cost of constructing or rehabilitating housing. These costs include the following: (1) For new construction, costs to meet the applicable new construction standards of the participating jurisdiction and the Model Energy Code referred to in * 92.251; (2) For rehabilitation, costs: (i) To meet the property standards in S 92.251; , . (ii) To make essential improvements, including energy-related repairs or improvements~ improvements necessary to permit use by persons 74 . '1' .. <)'1. J,' ~ with disabilities, and the abatement of lead-based paint hazards, as required by ~ 92.355, and to repair or replace major housing systems in danger offei1.l1!e; and d' i.:, , . (3) For both new construction and rehabilitation, costs: (i) To demolish existing structures; (ii) . To make utility connections including off-site connections from the property line to the adjacent street; and (ill) To make improvements to the project site that are in keeping with improvements of surrounding, standard projects. Site improvements may include on-sit~ roads and sewer and water lines necessary to the development of the project. The project site is the property, owned by the project owner, upon which the project is located. (4) For both new construction and rehabilitation of multifamily rental housing, costs to construct or rehabilitate laundry and community facilities which are located within the same building as the housing and which are for the use of the project residents and their guests. (b) Refinancing costs. The cost to refinance existing debt secured by housing that is being rehabilitated with HOME funds: (1) (2) For single-family (1- to 4~family) owner-occupied housing when loaning HOME funds to rehabilitate the housing, if the refinancing is necessary to reduce the overall housing costs to the borrower and make, the housing more affordable. For multifamily projects. when loaning HOME funds to rehabilitate the units if refinancing is necessary to permit or continue affordability under ~ 92.252. The participating jurisdiction must establish refinancing guidelines and state them in its consolidated plan described in 24 CFR part 91. Regardless of the amount of HOME funds invested. the minimum affordability period shall be 15 years. The guidelines shall describe the conditions under which the participating jurisdictions will refinance existing debt. At minimum. the guidelines must: . (i) Demonstrate that rehabilitation is the primary eligible activity and ensure that this requirement is met by establishing a minimum level of rehabilitation per unit or a required ratio between rehabilitation and refinancing; 75 I ' \' (ii) Require a review of management practices to demonstrate that disinvestment in the property has not occ~rred, that the long term needs of the project can be met and that the feasibility of serving the targeted population over an extended affordability period can be demonstrated; (iii) State whether the new investment is being made to maintain current affordable units, create additional affordable units, or both; (iv) SpecifY the required period of affordability, whether it is the minimum 15 years or longer; (v) Specify whether the investment of HOME funds may be jurisdiction- wide or limited.to a specific geographic area, such as a neighborhood identified in a neighborhood revitalization strategy ,under 24 CFR 91.,215(e)(2) or a Federally designated Empowerment "Zone or Enterprise Community; and. " (vi) State that HOME funds cannot be used to refinance multifamily loans made or insured by any Federal program, including CDBG. (c) Acquisition costs. Costs of acquiring improved or unimproved real property, including acquisition by home buyers. (d) Related soft costs. Other reasonable and necessary costs incurred by the owner or participating jurisdiction and associated with the financing, or development (or both) of new construction, rehabilitation or acquisition of housing assisted with HOME funds. These costs include, but are not limited to: (1) Architectural, engineering or related professional services required to prepare plans, drawings, specifications, or work write-ups. (2) Costs to process and settle the financing for a project, such as private lender origination fees, credit reports, fees for title evidence, fees for recordation and filing of legal documents, building permits, attorneys fees, private appraisal fees and fees for an independent cost estimate, builders or developers fees. (3) Costs of a project audit that the particip'ating jurisdiction may require with respect to the development of th,e project. (4) Costs to provide information services such as affirmative marketing and fair housing information to prospective homeowners and tenants as required by ~ 92.351. 76 T 'i (5) For new construction or rehabilitation, the cost of funding an initial operating deficit reserve, which is a reserve to meet any shortfall in project incom~ d,uring the period of proje~t rent-up (not to exceed 18 months) arid which may only be used to pay project operating expenses, scheduled payments to a replacement reserve, and debt service. Any HOME funds placed in an operating deficit reserve that remain- unexpended after the period of project rent-up may be retained for project reserves if permitted by the participating jurisdiction. (6) Staff and overhead costs directly related to carrying out the project, such as work specifications preparation, loan processing inspections, and other services rel~ted to assisting potential owners, tenants, and homebuyers, e.g., housing counseling, may be charged to project costs only if the project is funded and the individual becomes the owner or tenant of the HOME-assisted project. For multi-unit projects, such costs must be allocated among HOME-assisted units in a reasonable manner and documented. (7) For both new construction and rehabilitation, costs for the payment of impact fees that are charged for all projects within a jurisdiction. (8) Costs of environmental review and release of funds in accordance with 24 CFR Part 58 which are directly related to the project. (e) Community housing development organization costs. Eligible costs of project- specific assistance are set forth in ~ 92.301. (f) Relocation costs. The cost of relocation payments and other relocation assistance to persons displaced by the project are eligible costs. (1) Relocation payments include replacement housing payments, payments for moving expenses, and payments for reasonable out-of. pocket costs incurred in the temporary relocation of persons. (2) Other relocation assistance means staff and overhead costs directly related to providing advisory and other relocation services to persons displaced by the project, including timely written notices to occupants, referrals to comparable and suitable replacement property, property inspections, counseling, and other assistance necessary to minimize hardship. (g) Costs relating to paymelll of loans. If the HOME funds are not used to directly pay a cost specified in this section. but are used to payoff a construction loan. 77 " bridge financing loan, or guaranteed loan, the payment of principal and interest for such loan is an eligible cost only if: (1) The loan was. used for eligible costs specified in this section, and (2) The HOME assistance is part of the original financing for the project and the project meets the requirements of this part. ~ 92.207 Eligible administrative and planning costs. . A participating jurisdiction may expend. for payment of reasonable administrative and planning costs of the HOME program, an amount of HOME funds that is not more than ten percent of the fiscal year HOME hasic formula allocation plus any funds received in accordance with ~ 92.102(b) to meet or exceed participation threshold requirements that fiscal year. A State that transfers any HOME funds in accordance with ~ 92.102(b) must exclude these funds.in calculating the amount it may expend for administrative and planning costs. A participating jurisdiction may also use up to ten percent of the program income deposited in its local HOME account during the program year, for administrative and planning costs. Reasonable administrative and planning costs include: (a) General management, oversight and coordination. Reasonable costs of overall program management, coordination, monitoring, and evaluation. Such costs include, but are not limited. to, necessary expenditures for the following: (1) Salaries, wages, and related cost.) of the participating jurisdiction's staff. In charging costs to this category the participating jurisdiction may either include the entire salary, wages, and related costs allocable to the program of each person whose primarv responsibilities with regard to the program involves program administration assignments. or the prorated share of the salary, wages, and related costs of each person whose job includes ~ program administration assignments. The participating jurisdiction may use only one of these methods. Program administration includes the following types of assignments: (i) Developing systems and schedules for ensuring compliance with program requirements: (ii) Developing interagency agreements and agreements with entities receiving HOME funds: (iii) Monitoring HOME-assisted housing for progress and complianCe with program requirements: 7'8. <,;. ,..'. r, (iv) Developing agreements and monitoring housing not assisted with HOME funds that the participating jurisdiction designates as a matching contribution in accordance with ~ 92.219(b) for compliance with. applicable ,program requirements; ,! (v) Preparing reports and other documents related to the program for submission to HUD; (vi) Coordinating the resolution of audit and monitoring findings; (vii) Evaluating program results against stated objectives; and (viii) Managing or supervising persons whose primary responsibilities with regard to the program include such assignments as those described in paragraphs (a)(l)(i) through (vii) of this section; (2) , Travel costs incurred for official business in carrying out the program; (3) Administrative services performed under third party contracts or agreements, including such services as general legal services, accounting services, and audit services; (4) Other costs for goods and services required for administration of the program, including such goods and services as rental or purchase of equipment, insurance, utilities, office supplies. and rental and maintenance (but not purchase) of office space; and (5) . Costs of administering tenant-based rental assistance programs. (b) Staff and overhead. Staff and overhead costs directly related to carrying out the project, such as work specifications preparation, loan processing, inspections, and other services related to assisting potential owners, tenants, and homebuyers (e.g., hous.ingcounseling); and staff and overhead costs directly related to providing advisory and. other relocation services to persons displaced by the project, including timely written notices to occupants, referrals to comparable and suitable replacement property, property inspections, counseling, and other assistance necessary to minimize hardship. These costs may be charged as administrative costs or as project costs under ~ 92.206( d)(6) and (f)(2), at the discretion of the participating jurisdiction. ( c) Public information. The provision of information and other resources to residents and' citizen organizations participating in the planning, implementation, or assessment of projects being assisted with HOME funds. 79 I '.', (d) Fair housing. Activities to affirmatively further fair housing in accordance with the participating jurisdiction's certification under 24 CFR part 91. (e) Indirect Costs. Indirect costs may be charged to the HOME program under a cost allocation plan prepared in accordance with OMB Circulars A-87 or A- 122 as applicable. (f) Preparation of the consolidated plan. Preparation of the consolidated plan required under 24 CFR part 91. Preparation includes the costs of public hearings, consultations, and publication. (g) Other Federal requirements. Costs of complying with the Federal requirements in subpart H of this part. Project-specific environmental review costs may be charged as administrative costs or as project costs in accordance with ~ 92.206( d)(8), at the discretion of the participating jurisdiction. /. " 'j' Exhibit C Applicable Rules and Regulations The State Recipient agrees to comply with the following requirements: 1. Use of the HOME Program Income. The State Recipients shall use HOME funds in accordance with a locally adopted Program Plan, as may be amended from time to time, and as reported on the Annual Report submitted to DCA; 2. Warranties and Representations of State Recipient a. State Recipient warrants that it is duly organized, validly existing and in good standing under the laws of the State of Georgia; that it has all the requisite power and authority to enter into this Agreement and to assume the responsibilities for compliance with the HOME Regulations and all applicable federal and state laws and regulations; that a resolution, motion, order or ordinance has been duly adopted. passed or enacted as an official act of State Recipient, authorizing the execution and delivery of this Agreement by State Recipient and authorizing and directing the person executing this Agreement to do so for and on behalf of State Recipient; and that said acts were done in such a manner and form as to comply with all applicable laws to make this Agreement the valid, enforceable and legally binding act and agreement of State Recipient. b. State Recipient warrants that there is no action, proceeding. or investigation now pending, nor any basis known or believed by State Recipient to exist for such an action. proceeding, or investigation. which: (i) questions the validity of this Agreement, or any action taken or to be taken under it. or (ii) is likely to result in any material adverse change in the authorities, properties, assets, liabilities, or conditions (financial or otherwise) of State Recipient or which would . materially and substantially impair State Recipient's ability to perform any of the obligations imposed upon State Recipient by this Agreement. c. Conflict of Interest. The State Recipient agrees to avoid conflicts of interest in accordance with DCA policy, State law, provisions outlined in 24 CFR 85.36 and 24 CFR 84.42. 24 CFR 92.356, and to follow instructions provided in the State Recipient's Manual and other written guidance provided by DCA. Further, State Recipient warrants and represents that no member, employee, officer, agent, consultant, or official of State Recipient, nor any member of their immediate family or business associates, during their tenure or for one (I) year thereafter, shall have any interest. direct or indirect, in this Agreement or any proceeds or benefits arising therefrom. State Recipient has certified in its application to DCA that no such conflict exists and said certification is a covenant and warranty of this Agreement. State Recipient shall also require each Eligible Borrower to certify that no such conflict exists. Such certification shall be updated and re- submitted with the State Recipient's Project Disbursement Request. d. Debarment and Suspension. State Recipient warrants and represents that neither it nor any of its principals are presently debarred, suspended, proposed for debarment. suspension, declared ineligible, or voluntarily excluded from participation in this transaction or the DCA Program by any federal department or agency. State Recipient will also require each Eligible Borrower and selected contractor to certify that he or she is not currently debarred, suspended, declared ineligible, or voluntarily excluded from participation in this transaction or by any other federal department or agency. This certification shall be included with the State Recipient's Project Disbursement Requests. e. Lobbving. State Recipient warrants and represents that: (i) No federal appropriated funds have been paid or will be paid, by or on behalf of State Recipient, to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or an employee of a . .. '; " Member of Congress in connection with the awarding of any federal contract, the making of any federal grant, the making of any federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any federal contract, grant, loan, or cooperative agreement. (ii) If any funds other than federal appropriated funds have been paid or will be paid to any person for influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or employee of Congress, or any employee of a Member of Congress in connection with this Agreement, State Recipient shall complete and submit HUD Standard Form-LLL, "Disclosure Form to Report Lobbying," in accordance with its instructions. (iii) State Recipient will require that the language of this certification be included in the award documents for all subawards at all tiers (including subcontracts, subgrants and contracts under grants. loans, and cooperative agreements) and that all subrecipients shall certify and disclose accordingly. f. Survival of Representations and Warranties. All representations and warranties made under this Agreement shall be deemed to be made, and shall be true and correct. at and as of the Effective Date. All representations and warranties made under this Agreement shall survive the execution hereof. 3. State Recipient's HOME Programmatic Responsibilities. a. The State Recipient shall be responsible for the administration of its HOME program and actions necessary to successfully carry out all planned program activities including but not limited to program marketing, application intake, property inspections and bid document preparation, contracts, loan approval and denials, progress payment inspections, and dispute resolution. The State Recipient further agrees to assume responsibility from the Georgia Department of Community Affairs for compliance with all applicable State and Federal laws and regulations; b. The State Recipient agrees to be responsible for the execution of all necessary legal documents and other written agreements related to lending or distributing HOME funds in accordance with its Program Plan and in compliance with HOME program requirements, including requiring housing assisted with HOME funds to meet the affordability requirements o.utlined at 92.253 and 92.254. as applicable, and must require repayment of the funds if the housing does not meet the affordability requirements for the specified ~me period. The State Recipient further agrees to comply with all applicable State and Federal contract and lending laws; Prior to providing HOME funds to for-profit owners or developers, nonprofit owners or developer. subrecipients, homeowners, homebuyers, or contractors providing services to the State Recipient or eligible borrowers, the State Recipient must either enter into a written agreement which complies with the applicable General Conditions listed herein or must cause to be entered into between eligible borrowers and contractors such a written agreement. c. The State Recipient agrees to comply with HOME program requirements outlined at 24 CFR 92 Subpart F, including Maximum per-unit subsidy amount and subsidy layering, (92.250), Property Standards (92.251); Qualification as Affordable Housing: Rental Housing (92.252), Tenant and Participant Protections (92.253), Qualification as Affordable Housing: Homeownership (92.254), Religious Organizations; '. 4. Other State and Federal Requirements a. The State Recipient agrees to comply with all State and Federal requirements regarding equal opportunity and non-discrimination (as set-forth in 24 CFR 5.1 05(a)); b. The State Recipient agrees to affirmatively market its HOME program in accordance with 92.35l(a) of the HOME Rule; c. The State Recipient agrees to establish and oversee a minority and women business outreach program in accordance with 92.351 (b), and a locally adopted MBE/WBE Outreach; d. The State Recipient agrees assume full responsibility for compliance with the provisions of the National Environmental Policy Act of 1969 (NEPA) and the related authorities listed in HUD's implementing regulations at 24 CFR parts 50 and 58; e. The State Recipient agrees to ensure that it has taken all reasonable steps to minimize the displacement of persons (families, individuals, businesses, nonprofit organization, and farms) as a result of a project assisted with HOME funds. To the extent feasible, residential tenants must be provide a reasonable opportunity to lease and occupy a suitable, decent, safe, sanitary, and affordable dwelling unit in the building/complex upon completion of the project. State Recipient further agrees to comply with 92.253 outlining its responsibilities under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (URA) (42 V.S.C. 4201 - 4655); f. The State Recipient agrees to comply with all applicable contracting requirements of the Davis- Bacon Act (40 V.S.C. 27a - 27a-5) and the Contract Work Hours and Safety Standards Act (40 V.S.C. 327 - 332); g. The State Recipient agrees to comply with the provision of the Lead-Based Paint Poisoning Prevention Act (42 V.S.C 4821 et seq.) and implementing regulations at 24 CFR part 35. including the testing and abatement of lead paint hazards as applicable; h. The State Recipient agrees that in its role as a lender of HOME funds; it shall comply with all applicable regulations governing lending activity including, but not limited to: The Truth in Lending Act, Title I of the Consumer Credit Protection Act, 15 V.S.C.A. ~160l; Home Mortgage Disclosure Act, 12 V.S.C. ~2801-09; Equal Credit Opportunity Act, 15 V.S.c. 1601 ~ ~.; and all other applicable fair lending laws. In its role as the sole lender of HOME funds to homebuyers under the HOME Program. State Recipient hereby indemnifies DCA, its officers, director, employees, and agents from and against any and all liability arising from or related to (i) the construction or rehabilitation of any Eligible Property, (ii) the lending of Down Payment Assistance Funds to Borrowers or (iii) any action taken in connection with the Funds. 5. Monitoring. ReDorts. and RecordkeeDing. State Recipient agrees to manage the day to day operations of its HOME Program and to monitor all activities to assure compliance with all HOME Regulations, all requirements of the HOME Manual and all other applicable federal, state and local laws and regulations. State Recipient shall furnish to DCA any and all reports, forms and documents relating to said monitoring activities as required by the HOME Regulations or DCA. State Recipient shall monitor all HOME-Assisted Vnits until Project close-out for compliance with all eligibility and occupancy requirements, as set forth in the HOME. In addition to the monitoring responsibilities above, State Recipient agrees to keep records of all of the compliance activities State Recipient is required to perform under the HOME Regulations, including but not limited to the following records: a. Records providing a full description of each Eligible Property assisted with HOME funds including a census tract location and the amount of the assistance; b. Records indicating that after construction of each Eligible Property, the Eligible Property satisfies the property standards at 92.251 of the HOME Rule; c. Records documenting of the race, ethnicity, age, and gender of all Borrowers; d. Records indicating of the race, ethnicity, age, and gender of all principals of the businesses (general contractors and subcontractors) involved in the construction or rehabilitation of any Eligible Property; e. Records indicating compliance' with locally adopted Affirmative Marketing and Minority and Women Business Enterprise Outreach (MBEJWBE) Plans; f. Records indicating that each Eligible Property assisted is in compliance with The Lead Based Paint Poisoning Prevention Act, 42 U.S.c. ~4821,!tl ~.; g. Records indicating that no general contractor and/or subcontractors who performed any portion of the construction or rehabilitation of an Eligible Property were debarred or suspended by the Department of Housing and Urban Development (HUD Debar/Suspension); h. Records indicating whether or not flood insurance is required for each Eligible Property assisted with HOME funds as set forth in the HOME Rule, and provide applicable documentation of said flood insurance; and 1. Submit to DCA an annual audit report which complies with the single audit act requirements as set forth at 24 CFR Part 44 and OMB circular A-128. 6. Retention and Access of Records. For so long as this Agreement is in effect and for the applicable record retention period outlined in the HOME Regulations, State Recipient agrees to maintain proper and accurate books, records and accounts reflecting its administration of its HOME Program and its compliance with the HOME Regulations, including but not limited to: all items of incom~ and expense of State Recipient in operating its Program, all disbursements of Funds, and all records. documents and data State Recipient is required to maintain under the HOME program; Said books, records and accounts shall be separate from any general accounting records which the State Recipient may maintain in connection with the State Recipient's general business activities. State Recipient agrees that DCA. HUD, the Comptroller General of the United States, or any of their authorized representatives, shall have access to any and all said books, records and accounts of State Recipient for whatever purposes. State Recipient shall maintain all such books, records and accounts pertaining to this Agreement for a period of not less than five (5) years after repayment of all loans funded pursuant to this Agreement. In addition, withrespect to any disputed matters (i& audits. disputes or litigation), State Recipient shall maintain all such books, records and accounts for a period of not less than five (5) years after all such disputed matters are resolved in accordance with applicable federal or state laws. regulations or policies. 7. Defaults and Enforcement. Should the. State Recipient, at the sole discretion of DCA, fail to perform i~ duties outlined in the Agreement or in accordance with the HOME Rule (24 CFR part 92), DCA may, take either or all of the following actions: (i) immediately suspend or terminate this Agreement; (ii) disallow any further disbursement of Funds; (iii) require State Recipient to repay to DCA all or any portion of the Funds; (iv) require State Recipient to turn over all pertinent records and information relating to the DCA Program; (v) select another nonprofit agency to oversee the operation of the DCA Program; and (vi) take any and all action in law, equity or otherwise which it deems necessary or advisable. The rights and remedies of DCA shall be cumulative. Any election of any right or remedy will not be deemed to be an election of that right or remedy to the exclusion of any other right or . ''0. remedy. The rights and remedies available to DCA in the event of a suspension or termination of this Agreement will survive such suspension or termination. 8. Indemnification. State Recipient hereby waives, releases, relinquishes, discharges and agrees to indemnify, protect and save harmless, DCA, its directors, officers, agents and employees of and from any and all claims, demands, liabilities, losses, costs or expenses caused by, growing out of or happening in connection with the performance of this Agreement, or the rehabilitation or construction of any property with any Funds. ~ " ~ - "'0 0> t) '00 C/l Ctl C/l - C ::J 0> Ol c 'E o U C. ::J 0> .s:: - .5 0> Cil C. 'u :;:; c Ctl ::J o :>. .s:: U :E ~ ... o ... Ctl ~ t) Ctl C. 0> .s:: - Ol c .;:: ::J "'0 "'0 0> ... 0> - C ::J o U C 0> C/l Ctl .s:: E ~ Ol o ... c. ... ::J o :>. ..c U :E ~ E 0> :0 e c. - c Ctl U :;:: 'c Ol '00 :>. c Ctl 0> .0 .;:: U C/l 0> "'0 0> C/l Ctl 0> a: I co ;:: ~~ UCtl 0>0> (/):>. "'0 0> () C 0> ";:: 0> C. 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Ol 3 =r Ol C/l CD ::I n o e: ::I - CD m 0. 0. e: .... :j' 1C - =r CD " Ol C/l - '< CD Ol .... o .... :E =r 1'5' =r '< o e: Ol a 1'5' '6' Ol m :3' - =r CD e: " n o 3 S' 1C 00 CD n - O' ::I -....J . '1J CD Ol C/l CD (ii' - Ol :J ..-: 1C CD ::I CD .... ~ o .... C/l " CD & cr - CD n =r ::I o' ~ Ol C/l C/l (ii' - Ol ::I n CD ::I CD CD 0. :E =r o' =r '< o e: =r Ol < CD CD X "0 CD .... <5' ::I n CD 0. '" ~ ~ -; " " STATE OF GEORGIA " " DEPARTMENT OF COMMUNITY AFFAIRS AGREEMENT FOR TRANSFER OF HOME LOANS AGREEMENT No.2J . ~ t HO'M€ - \ d. \. 0 ~ - 003 . THIS AGREEMENT is entered into this l'1 fuday of -;s-....0). \ 19~, by and between the Department of Community Affairs of the State of Georgia, (hereinafter referred to as the "Department") and the G...u...~~~._~~ ~ (hereinafter referred to as the "Recipient"). " . (J WHEREAS, the State of Georgia is interested in expanding the supply of decent, safe, sanitary and affordable housing for low and very low income Georgians; and WHEREAS, the development of partnerships between the State and units of general local governments is beneficial in the effective use of all available resources to provide more of such housing; and WHEREAS, Section 50.8.8 of O.c.G.A. provides that the Department receive and administer funds for the purposes specified therein; and WHEREAS, certain HOME Investment Partnership Act funds rec~ived by the Department from the U.S. Department of Housing and Urban development (hereinafter referred to as HUD) were used by the Department to make HOME loans to residents of the Recipient's jurisdiction; and WHEREAS, certain State Recipients were selected to administer HOME programs and originate HOME loans on behalf of the Department. WHEREAS, the Department wishes to transfer ownership of these HOME loans to the Recipient for the purpose of providing the Recipient with program .income to finance future housing development activities; and WHEREAS, the Recipient warrants it has the authority to receive and expend such resources for the purposes set forth herein: . NOW THEREFORE, in consideration of the covenants and agreements contained herein, the parties hereto agree and covenant as follows: l.scooe of Pro2ram. The Department agrees to transfer and assign and the ReCipient accepts A..f. HOME mortgage loans, as listed in Exhibit A, which is incorporated by "reference and" made a part of this Agreement. The loans shall be transferred with the existing security deeds, together with the indebtedness which they secure, and any and all other documents connected with such indebtednes~. In addition, a separate assignment of the security deed will be executed by the Department and the Recipient. This assignment will be recorded at the County Courthouse by the Recipient '. within 30 days of the transfer of the HOME mortgage loans. Recipients agrees to service; cause to be serviced and/or sell the HOME loans it accepts, and to use all of the program income generated to carry out further HOME eligible activities in accordance with all applicable federal and state rules and regulations. All program income shall be placed in a local HOME Trust account in accordance with HOME regulation (HOME Rule 92.503). Up to 10% of program income may be used for HOME eligible administration costs. The Recipient may also transfer or assign the ~ HOME mortgage loans as listed in Exhibit A, which is incorporated by -reference and made a part of this agreement, to a Community Development Corporation (CDC) which it has established and for which it is financially responsible. In the event of the dissolution of the CDC, all outstanding loans, and "assets acquired with funds provided through this agrc:ement including program income, do hereby revert immediately to the Recipient. The Recipient "acknowledges that the transfer and assignment of the HOME mortgage loans to a CDC shall in no way relieve the Recipient from. responsibilities of accountability to the Georgia Department of Community Affairs and recognizes that while it is acting as a conduit to pass funds through to the CDC, the Recipient will be held solely responsible for actions of the CDC including non-compliance with any of the responsibilities it has assumed under this agreement. 2.HOME Elieible Activities. HOME eligible actIVItIes are those actIVItIes specified as eligible by the HOME Investment Partnership Act, as amended and specified in Exhibit B, which is incorporated by reference and made a part of this Agreement. The Recipient agrees to use HOME Program Income in accordance with a locally adopted program plan, as may be amended froll?- time to time. 3.Aoolicable Rules and Res!Ulations. Applicable federal and state rules and regulations are specified in Exhibit C, which is incorporated by reference and made a part of this Agreement. In addition, for those Recipients receiving Rental Rehabilitation loans as part of the loans listed in Exhibit A, the following additional requirements shall apply: & requiremen utlined in the borrower's Loan Agreement and Land Us fIction. In order to ensure comp with these special rental pro e VIsions, the Recipient must perform the following mom . activiti' All HOME assisted rental units must be inspected for compliance e e 8 Housing Quality Standard (HQS) every other year from t of Pn;>ject Completion untI ears after the date of Project Co on; Oi) The rents charged and the income of ts must be ed on an annual basis from the date of Project Completion until five (5) year '. .i ( 4.ReportinS! Reauirements. The Recipient agrees to provide the Department with an annual report onthe status of the loans and all loan repayments and/or proceeds using the format indicated in Exhibit. D, which is incorporated by reference and made a part of this Agreement. The annual report shall be due to the Department beginning on July 31, 1998, and annually thereafter until all program income has been fully expended. Any program income not expended for purposes provided for in this Agreement shall be returned to the Department. 5.Satisfaction. In the event the Department determines that in its judgment, the Rec!pient has failed to comply with the terms of this Agreement, has failed to complete all or a portion of the activities for which the loans were transferred, or has acted in any way contrary to the purposes of the agreement, the Recipient shall return to the Department all outstanding loans and loan proceeds remaining in the HOME Trust account upon request of the Department. IN WITNESS WHEREOF, the parties have executed this agreement as of the date first stated above. I Q~ ~r~~ C~ DEPARTMENT OF COMMUNITY AFFAIRS S TE OF GEORGIA ST ATE OF GEORGIA ;::" .~ ,,-- BY: WITNESS:~~dQ \J\Ao:tt-~ "'. "' ' This ~lIl8nl approved as ~'It, J'ld..;J.m. pr:1i:F ~ f7 ~ . \ . .' S-ectlon 5 - Please provide any additional Information regarding the Units assisted this reporting penod, which you feel IS significant to an assessment of your program's activities: Section 6 - Please describe any significant problem which your program has encountered during the past year or which you anticipate in the upcoming year: Section 7 - Please list any general or specific technical assistance need which you have experienced: .' EXHIBIT 0 HOME LOANS PROGRAM INCOME .. Name of Local Government Contact Person Phone # ~ Balance Sheet: Assets Cash or cash equivalents Investments/securities Loans Receivable Less Uncollectables Net Loans Receivable Other Assets Total Assets Liabilities and Fund Equity Accounts Payable Other Liabilities Total Liabilities Total Fund Equity Total Liabilities and Fund Equity ~ Statement of Revenues and Expenditures: Revenues Interest eamed from: bank account notes receivable Gain on sale of assests Other (identify) Expenditures Total Revenues Other (identify) Total Expenditures Net revenues over (under) expenditures ~ Schedule of new HOME eligible activities funded this reporting per;od: Activity type (Homeowner Rehab, Down-payment Assistance, etc"): Activity Beneficiary (Homeowner, Investor, Home Buyer, Tenant, e:c"): Date activity funded: Amount of financial assistance provided with: a. HOME Loans Program Income $ b" Other Funds (specify) Activity Type: (Homeowner Rehab, Down-payment Assistance, etc.): Activity Beneficiary (Homeowner, Investor, Home Buyer, Tenant. etc"): Date activity funded: : Amount of financial assistance provided with: a. HOME Loans Program Income $ b. Other Funds (speCify) 'If there are any additional activities funded, please attach a separa'e sheet and provide the information using the format above. Section 4 Housing Unit Totals: What is the cummulative number of housing units that have bt<.:n assisted with HOME Loans Program Income: What percentage of the total number of housing units associated with HOME Loans Program Income were occupied by: a" very low income persons b. low income persons I, the undersigned authorized representative 01 the City 01 certify that to the best 01 my knowledge and bellel, tha data In this report Is true and correct Type in name Tille Date Signature !l Name of Local Government EXHIBIT 0 HOME LOANS PROGRAM INCOME ANNUAL STATUS REPORT Agreement # For the eriod ending: 12/31/ Contact Person Phone # ~ Statement of Revenues and Expenditures: Revenues Interest eamed from: bank account notes receivable Gain on sale of assests Other (identify) ~ Balance Sheet: Assets Cash or cesh equivalents Investments/securities Loans Receivable Less Uncoliectables Net Loans Receivable Other Assets Total Assets Liabilities and Fund Equity Accounts Payable Other Liabilities Total Liabilities Total Fund Equity Total Liabilities and Fund Equity ~ Schedule of new HOME eligible activities funded this reporting period: Activity type (Homeowner Rehab, Down-payment Assistance, etco): Activity Beneficiary (Homeowner, Investor, Home Buyer, Tenant, et:o): Date activity funded: Amount of financial assistance provided with: a. HOME Loans Program Income $ bo Other Funds (specify) Activity Type: (Homeowner Rehab, Down-payment Assistance, etco:': Activity Beneficiary (Homeowner. Investor, Home Buyer, Tenant, etco): Date activity funded: Amount of financial assistance provided with: ao HOME Loans Program Income $ - bo Other Funds (specify) .If there are any additional activities funded, please attach a separate sheet and provide the information using the format above. Section 4 Housing Unit Totals: What is the cummulative number of housing units that have been assisted with HOME Loans Program Income: Expenditures Total Revenues Other (identify) What percentage of the total number of housing units associated with HOME Loans Program Income were occupied by: a. very low income persons b. low income persons Total Expenditures certify that to the best of my knowledge and belief, the data In this report Is true and correct Signature . ,. Net revenues over (under) expenditures I, the undersigned authorized representative of the City of Type In name Title Date Section 6 - Please describe any significant problem which your program has encountered during the past year or which you anticipate in the upcoming year: Section 7 - Please list any general or specific te~hnical assistance need which you have experienced: ,. " .. ~ . -. . Name of Local Government EXHIBIT 0 HOME LOANS PROGRAM INCOME ANNUAL STATUS REPORT Agreement # For the period endin : 12/31/ Contact Person Phone # ~ Statement of Revenues and Expenditures: Revenues Interest earned from: bank account notes receivable Gain on sale of assests Other (identify) Expenditures Total Revenues Other (identify) Total Expenditures Net revenues over (under) expenditures . I, the undersigned authorized representative 01 the City 01 Type in name ~ Balance Sheet: Assets Cash or cash equivalents Investments/securities Loans Receivable Less Uncollectables Net Loans Receivable Other Assets Total Assets Liabilities and Fund Equity Accounts Payable Other Liabilities Total Liabilities Total Fund Equity Total Liabilities and Fund Equity ~ Schedule of new HOME eligible activities funded this reporting period: Activity type (Homeowner Rehab, Down-payment Assistance, etc.): Activity Beneficiary (Homeowner, Investor, Home Buyer, Tenant, etc.): Date activity funded: . Amount of financial assistance provided with: a. HOME Loans Program Income $ .- b. Other Funds (specify) Activity Type: (Homeowner Rehab, Down-payment Assistance, etc): Activity Beneficiary (Homeowner, Investor, Home Buyer, Tenant. etc.): Date activity funded: Amount of financial assistance provided with: a. HOME Loans Program Income $ b. Other Funds (specify) ." there are any additional activities funded, please attach a separate sheet and provide the ... '~..' information using the format above. .-~'-.- Section 4 Housing Unit Totals: What is the cummulative number of housing units that have been assisted with HOME Loans Program Income: What percentage of the total number of housing units associated with HOME Loans Program Income were occupied by: a. very low income persons b. low income persons certify that to the best 01 my knowledge and bellel, the data In this report Is trua and correct Signature & .. . Trtle Date ~ . . Section 6 - Please describe any significant problem which your program has encountered during the past year or which you anticipate in the upcoming year: Section 7 - Please list any general or specific technical assistance need which you have experienced: .' a .. . ~ .. EXHIBIT D HOME LOANS PROGRAM INCOME ANNUAL STATUS REPORT Agreement # For the period endln : 12/31/ Phone # Name of Local Government Contact Person . ~ Balance Sheet: Assets Cash or cash equivalents Investments/securities Loans Receivable Less Uncollectables Net Loans Receivable Other Assets Total Assets Liabilities and Fund Equity Accounts Payable Other Liabilities Total Liabilities Total Fund Equity Total Liabilities and Fund Equity ~ Schedule of new HOME eligible activities funded this reporting period: Activity type (Homeowner Rehab, Down-payment Assistance, etc.): Activity Beneficiary (Homeowner, Investor, Home Buyer, Tenant, etc.): Date activity funded: Amount of financial assistance provided with: a. HOME Loans Program Income $ b. Other Funds (specify) Activity Type: (Homeowner Rehab, Down-payment Assistance, etc.): Activity Beneficiary (Homeowner, Investor, Home Buyer, Tenant, etc.): Date activity funded: Amount of financial assistance provided with: a. HOME Loans Program Income $ b. Other Funds (specify) 'If there are any additional activities funded, please attach a separate sheet and provide the information using the format above. Section 4 Housing Unit Totals: What is the cummulative number of housing units that have been assisted with HOME Loans Program Income: What percentage of the total number of housing units associated with HOME Loans Program Income were occupied by: a. very low income persons b. low income persons . ~ Statement of Revenues and Expenditures: Revenues Interest earned from: bank account notes receivable I, the undersigned authorized represantetlve 01 the City 01 certify that to the best 01 my knowledge and beliel, the data In this report Is true and correct ~ .. Signature Gain on sale of assests Other (identify) " ~ . Expenditures Total Revenues Other (identify) Total Expenditures Net revenues over (under) expenditures Type In name Title Date " ~ . Section 6 - Please describe any significant problem which your program has encountered during the past year or which you anticipate in the upcoming year: Section 7 - Please list any general or specific technical assistance need which you have experienced: , . , ;~ . ~ A .. , ~ t, '.