Agenda - Council - 02/24/2004 - Laserfiche WebLink

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affordableland life-cycle housing goals for the Municipality' pursuant to Minnesota Statutes section 47~.254. II. GRANT FUNDS 2.01 Total Grant Amount. Subject to the conditions stated in this paragraph, the Council will grant to the Grantee a total sum of $2,210,000.00 which shall be funds from the Livable Communities Demonstration 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 Livable Communities Demonstration Account grant funds made available to the Council may result in a like reduction to the Grantee. 2.02 Authoriz¢~d 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 Grantee's application for ~Livable Communities Demonstration Account grant funds. A Summary of the Grantee's application which identifies eligible uses of the grant funds is attached to and incorporated into this agreement as Attachment A. If the provisions of. the Grantee's application are inconsistent with Other provisions of this agreement, the other provisions of this agreement shall take precedence over the provisions of the application. Grant funds must be used to fund the initiatives spec!fled in Minnesota Statutes section 473.25, paragraph (b), in a Participating Municipality. Grant funds must be used for costs directly associated with the specific proposed activities and a~e intended to be used for "hard costs" rather than "soft costs." Ineligible uses include: administrative overhead; activities prior to the date of the grant award; travel expenses; legal fees; perr[~ its, licenses or authorization fees; costs associated with preparing other grant proposals; operating expenses; comprehensive planning costs; and prorated lease and salary costs. If consistent with lhe application, 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 o~erwise 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 are not used forithe authorized purposes specified in this paragraph; any interest earnings described in paragraph 2i05 Which are not used for the purposes of implementing the project activities described in AttaChment A; and any "revolved" funds described in paragraph 2.05 that are not used by the Grantee l to implement affordable and life-cycle housing initiatives pursuant to paragraph 2.05. The Gran~tee must complete all major components of the grant project as proposed and for which the Count:il made its grant award and perform the special conditions stated in Attachment A, or the Grantee must return to the Council the entire grant amount specified in paragraph 2.01 of this agreement. 2.03 Budget Variance. A variance of ten percent (10%) in the amounts allocated to various eligible uses identified in Attachment A shall be considered acceptable without further documentation or Council approval. Budget variances exceeding ten percent (10%) may require approval of the igoverning body of the Metropolitan Council. Notwithstanding the aggregate or net effect of any variances, the Council's obligation to provide grant funds under this agreement shall not exceed the maximum grant amount specified in paragraph 2.01 of this agreement. Page 2 of 6 Pages