Agenda - Council - 09/25/2001 - Laserfiche WebLink

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I '1 I I I I I I. DEFINITIONS 1.01 Definition of Terms. For the purposes of this agreement, the terms defined in this paragraph have the meanings given them in this paragraph unless otherwise provided or indicated by the context. (a) "Metropolitan Area" means the seven-county metropolitan area as defined by Minnesota Statutes section 473.121, subdivision 2. (b) "Municipality" means a statutory or home rule charter city or town in the Metropolitan Area. (c) "Participating Municipality" means a Municipality electing to participate in the Local Housing Incentives Account program under Minnesota' Statutes section 473.254. II. GRANT FUNDS I I I I I I I I I I I 2.01 Total Grant Amount. The Council will grant to the Grantee a total sum of $135,000 which shall be funds from the Local Housing Incentives Account of the Metropolitan Livable Communities Fund. Notwithstanding any other provision of this agreement, the Grantee understands and agrees that any reduction or termination of Local Housing Incentives Account funds made available to the Council, or any reduction or termination of the dollar-for-dollar match amount required under paragraph 2.02, may result in a like reduction to the Grantee. 2.02 Match Requirement. Pursuant to Minnesota Statutes section 473.254, subdivision 6, the Grantee shall match on a dollar-for-dollar basis the total grant amount received from the Council under paragraph 2.01. The source and amount of the dollar-for-dollar match shall be identified by the Grantee in the report(s) required under paragraph 3.03. 2.03 Authorized Use of Grant Funds. The total grant amount made available to the Grantee under this agreement shall be used only for the purposes and activities described in the application for Local Housing Incentives Account funds. A copy of the project summary that identifies eligible uses of the grant funds and was approved by the Council is attached to and incorporated into this agreement as Attachment A. Grant funds must be used for purposes consistent with Minnesota Statutes section 473.25(a), in a Participating Municipality. Grant funds must be used for costs directly associated with the specific proposed activities and are intended to be used for "hard costs" rather than "soft costs" such as: administrative overhead; activities prior to the start of the grant project; travel expenses; legal fees; permits, licenses or author/zation fees; costs associated with preparing other grant proposals; operating expenses; planning costs, including comprehensive planning costs; and prorated lease and salary costs. If consistent with the application and the project summary in Attachment A, the Grantee may use the grant funds to make deferred loans (loans made without interest or periodic payments), revolving loans (loans made with interest and periodic payments) or otherwise make the grant funds available on a "revolving" basis for the purposes of implementing the project activities described in Attachment A. The Council shall bear no responsibility for cost overruns which may be incurred by the Grantee or others in the implementation or performance of the project activities described in Attachment A. The Grantee agrees to remit to the Council in a prompt manner: any unspent grant funds; any grant funds which Page 2 of 7 Pages -303-