2015.11.17 EDA Meeting Packet (Special)AGENDA
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
• SPECIAL MEETING •
TUESDAY, NOVEMBER 17, 2015
FOLLOWING THE 7:00 P.M. CITY COUNCIL MEETING
CRYSTAL CITY HALL
COUNCIL CHAMBERS
Call to order
2. Roll call
3. Approval of minutes from the September 16, 2015 special meeting *
4. Consider authorizing a contract for Housing Resource Center services in 2016 *
5. Consider authorizing a contract for the 2016 Home Improvement Incentive Rebate
program *
6. Other business
7. Adjournment
* Materials attached
Minutes of the
Crystal Economic Development Authority
Special Meeting
September 16, 2015
President Peak called the special meeting of the Crystal Economic Development Authority to
order at 8:10 p.m.
Upon call of the roll, the following members were present: Laura Libby, Casey Peak, Jim
Adams, Julie Deshler, Jeff Kolb, and Olga Parsons.
The following staff members were present: Anne Norris, Executive Director, John Sutter,
Deputy Executive Director, Dan Olson, City Planner, and Troy Gilchrist, Attorney.
Motion by Commissioner Adams (Kolb) to approve the minutes of the September 1, 2015
regular meeting.
Motion carried.
The EDA held a public hearing to consider a resolution authorizing the sale of a lot at 5626 Vera
Cruz Avenue North to Tollberg Homes for new house construction. Mr. Olson presented the
staff report. President Peak opened the public hearing. No one appeared and the hearing was
closed.
Motion by Commissioner Deshler (Parsons) to adopt Resolution #2015-11 authorizing the sale of
a lot at 5626 Vera Cruz Avenue North to Tollberg Homes for new house construction.
Motion carried.
The EDA considered a resolution authorizing acquisition of foreclosed property at 4354 Xenia
Avenue North. Mr. Sutter presented the staff report.
Motion by Commissioner Adams (Kolb) to adopt Resolution 42015-12 authorizing acquisition of
foreclosed property at 4354 Xenia Avenue North for a price not to exceed the list price of
$45,000.
Motion carried.
Motion by Commissioner Adams (Parsons) to adjourn the special meeting.
Motion carried.
The meeting adjourned at 8:35 p.m.
Casey Peak, President
ATTEST:
Olga Parsons, Vice President
EDA STAFF REPORT
Housing Resource Center funding for 2016
FROM: John Sutter, Community Development Director
DATE: November 12, 2015
TO: Anne Norris, Executive Director (for November 17 EDA meeting)
SUBJECT: Consider a Consultant Services Agreement with Greater Metropolitan
Housing Corporation for Housing Resource Center services in 2016
The Greater Metropolitan Housing Corporation ("GMHC") is proposing to continue
providing the services of its Housing Resource Center to Crystal residents. The
proposed Consultant Services Agreement would continue the program in essentially the
same manner as the past several years. The annual amount paid by the EDA to
GMHC for these services would remain at $15,000, unchanged for 15 years. This
amount is included in the 2016 EDA budget.
This agreement funds the baseline services provided to residents of cities served by the
Housing Resource Center, which includes technical assistance with remodeling projects
and applications for a number of different home improvement programs. This
agreement does not include Crystal's unique Home Improvement Incentive Rebate
which is an additional, locally -funded program that is administered by the Housing
Resource Center for the EDA under a separate annual agreement.
During the first ten months of 2015, the Housing Resource Center provided the
following services in Crystal:
415 Phone calls for general info including financing options
87 Construction consultations via phone or walk-in
75 In-home construction consultations (incl. scope of work written)
180 Funding applications mailed
89 Funding applications received and reviewed
73 Funding applications approved
919 TOTAL (Note: There is some duplication because as projects progress they will
use more than one of these services.)
A printout from the Housing Resource Center website is attached.
EDA approval of the attached $15,000 Consultant Services Agreement is requested to
continue Housing Resource Center services through 2016.
HousingResource Center - North
City of Crystal Monthly Status Report
January 1, 1999 - October 31, 2015
Crystal
Download information as PDF
Crystal Rehab Incentive Program
Depending on household income, applicants can qualify for a 10% 15% or 20% rebate on the total project cost.
Household income must be less than $103,920 (adjusted annually). Homeowners must apply & sign a
participation agreement for the rebate before any work begins or materials are purchased. Maximum rebate is
$10,000 per calendar year per household. Minimum project cost must be $2,000 to be eligible for a rebate.
Crystal Last Resort Grant
Last Resort offers a $3,000 grant to address serious and immediate health and safety issues or code violations.
Household income must not exceed 50% AMI, adjusted by household size. Construction manager evaluation &
City approval are required. Work must be performed by a contractor, no sweat equity allowed.
Minnesota Housing Community Fix Up Loan
Crystal is offering a special low-interest home improvement loan in partnership with the Minnesota Housing
Finance Agency. Owner -occupied households, from single-family up to four units, with an annual income at or
below $99,500, can borrow up to $50,000 at a 3% interest rate. Loan term can extend to 20 years. Funds may
be used to repair or remodel your home, including energy-saving improvements. This low interest rate is
available for a limited time, contact the Housing Resource Center -North for interest rate updates. Apply now!
Also available is an unsecured loan up to $15,000 with no equity requirement for a higher interest rate.
Home Improvement Advice:
Our construction managers provide free construction consultations to residents of Crystal.
These services include:
• Site visits with homeowners
• Contractor information
• Create a list of work for contractors to bid from
• Review contractor bids, proposals or estimates
• Accessibility modifications
• Health and safety issues
For more information contact the HousingResource Center TM — North
2148 44th Ave N
Minneapolis MN 55412
Phone: (612) 588-3033
CONSULTANT SERVICES AGREEMENT
THIS IS AN AGREEMENT entered into the day of , 20_, by and
between the Crystal Economic Development Authority, ("EDA"), and GREATER
METROPOLITAN HOUSING CORPORATION, a Minnesota non-profit corporation
("Consultant").
RECITALS
A. The Consultant has a division called The Housing Resource Center ("HRC").
GMHC has agreed to provide certain Services through HRC (as defined below) in connection
with the EDA's housing program.
B. The EDA desires to hire the Consultant to render this technical, professional, and
marketing assistance in connection with housing programs in the EDA for the term as set forth in
this Agreement.
C. Consultant is willing to provide such services on the terms and conditions set
forth herein.
In consideration of the foregoing recitals and following terms, conditions and mutual
promises contained herein, the parties agree as follows:
1. Scope of Services. The Consultant shall provide services as follows (the
"Services"):
a. Administer the following home improvement programs for residents of the City
of Crystal (the "City"): MHFA Fix Up Fund and Community Fix Up Fund
(collectively the "MHFA Programs"):
1. Providing information to residents and property owners about the
programs, upon request; assisting the City with marketing materials
through various mediums;
2. Assist the EDA in developing procedures for the programs;
3. Receipt of applications from residents;
4. Processing applications;
5. Closing loans to qualified applicants in accordance with the applicable
program;
6. Overseeing the draw process for. the funds, including, as necessary,
reviewing draws, reviewing the progress of the work and collecting lien
waivers and certificates of occupancy. Consultant may, for this purpose,
rely on third -party representations and certifications.
7. Provide monthly reports about the number of loans closed and the balance
in each loan program.
fb.us.3166730.04 1
b. Assist City residents considering rehabilitation, including property visits, meet
with homeowners and potential contractors, suggest alternatives for rehabilitation
to homeowners, educate homeowners on the construction bid process, assist
homeowners to evaluate bids and work completed and construction progress.
C. Provide housing information to City residents, including information on
emergency assistance, housing rehabilitation, first time homebuyers and limited
rental information;
d. Assist the EDA in developing programs to purchase and rehabilitate homes;
e. Coordinate these services out of Consultant's Minneapolis office; and
f. Have Consultant's staff visit residences as determined necessary by Consultant.
2. Term. This Agreement shall be in full force and effect from January 1, 2016 and
shall continue through December 31, 2016, unless otherwise terminated as set forth below.
3. Compensation.
For services provided under this Agreement, the EDA shall pay to the Consultant
Fifteen Thousand Dollars ($15,000.00) within thirty (30) days after execution of this Agreement
or January 31, 2016, whichever is later.
The Consultant shall receive compensation for administering the MHFA Programs
directly from the Minnesota Housing Finance Agency and not from the EDA.
4. Termination. Notwithstanding any other provision hereof to the contrary, this
Agreement may be terminated as follows:
a. The parties, by mutual written agreement, may terminate this Agreement at any
time in which case the parties shall agree to the amount of fees payable to
Consultant.
b. EDA may terminate this Agreement upon the breach by Consultant of any of its
material covenants contained herein, where such breach shall have continued for a
period of thirty (30) days following the receipt by Consultant of a written notice
from EDA, specifying the alleged breach; provided, however, if the nature of a
non -monetary breach is such that Consultant cannot reasonably cure same in the
thirty (30) day period, Consultant shall not be deemed to be in breach if it
commences to cure within the thirty (30) day period, and diligently pursues same
to completion within ninety (90) days following receipt by Consultant of such
written notice. In the event of termination by EDA hereunder, Consultant shall be
entitled to fees due to the date the notice of breach is sent by the EDA.
If Consultant or EDA (as applicable) (i) files a voluntary petition in bankruptcy
(ii) files a voluntary petition for reorganization under any bankruptcy law, statute
or regulation or other similar statute or regulation, (iii) is adjudicated a bankrupt,
fb.us.3166730.04 2
(iv) makes an assignment for the benefit of creditors or applies for or consents to
the appointment of a receiver or trustee as part of or in conjunction with a
"creditor plan" with respect to any substantial part of its assets, or (v) a receiver or
trustee is appointed, or an attachment or execution levied with respect to any
substantial part of its assets, and said appointment is not vacated, or the
attachment or execution not released, within sixty (60) days, then this Agreement
shall, effective as of such date, without notice or further action by either party,
immediately terminate.
d. Consultant may terminate this Agreement upon the breach by EDA of any of its
material covenants contained herein, where such breach shall have continued for a
period of thirty (30) days following the receipt by EDA of a written notice from
Consultant, specifying the alleged breach; provided, however, if the nature of a
non -monetary breach is such that EDA cannot reasonably cure same in the thirty
(30) day period, EDA shall not be deemed to be in breach if it commences to cure
within the thirty (30) day period, and diligently pursues same to completion
within ninety (90) days following receipt by EDA of such written notice. In the
event of termination by Consultant hereunder. Consultant shall be entitled to
retain the entire fee under this Agreement.
5. Insurance.
a. During the term of this Agreement, the Consultant shall obtain and maintain
workers compensation, comprehensive general liability, and automobile liability
insurance. Comprehensive general liability insurance shall have an aggregate
limit of Two Million Dollars ($2,000,000.00).
b. Upon request by the EDA, the Consultant shall provide a certificate or certificates
of insurance relating to the insurance required. Such insurance secured by the
Contractor shall be issued by insurance companies licensed in Minnesota. The
insurance specified may be in a policy or policies of insurance, primary or excess.
C. Such insurance shall be in force on the date of execution of an Agreement and
shall remain continuously in force for the duration of the Agreement.
6. Indemnification.
a. Notwithstanding anything to the contrary in this Agreement, the EDA, its officers,
agents, and employees shall. not be liable or responsible in any manner to the
Consultant, the Consultant's successors or assigns, the Consultant's subcontractors,
or to any other person or persons for any third party claim, demand, damage, or
cause of action of any kind, nature, or character, including intentional acts, arising
out of or by reason of the performance of this Agreement by Consultant. The
Consultant, and the Consultant's successors or assigns, agree to protect, defend and
save the EDA, and its officers, agents, and employees, harmless from all third parry
claims, demands, damages, and causes of action, to the extent caused by the
fb.us.3166730.04 3
negligence or wrongful acts of Consultant, and the costs, disbursements, and
expenses of defending the same, including but not limited to, attorneys fees,
consulting services, and other technical, administrative or professional assistance.
b. Nothing in this Agreement shall constitute a waiver or limitation of any immunity or
limitation of any immunity or limitation on liability to which the EDA is entitled
under Minnesota Statutes, Chapter 466, or otherwise.
7. Assignment. This Agreement shall not be assigned, sublet, or transferred, in
whole or in part without the prior written approval of the EDA.
8. Conflict of Interest. The Independent Contractor shall use best efforts to meet
all professional obligations to avoid conflicts of interest and appearances of impropriety in
representation of the EDA. In the event of a conflict, the Independent Contractor, with the prior
written consent of the EDA, shall arrange for suitable alternative services.
9. Compliance with Laws. The Consultant shall comply with all applicable
Federal, State, and local laws, rules, ordinances, and regulations at all times and in the
performance of the services pursuant to this Agreement.
10. Notices. Any notices permitted or required by this Agreement shall be deemed
given when personally delivered or upon deposit in the United States mail, postage fully prepaid,
certified, return receipt requested, addressed to:
Consultant: Greater Metropolitan Housing Corporation
15 South 5t` Street, Suite 710
Minneapolis, MN 55402
ATTN: Suzanne Snyder
EDA: Economic Development Authority of the City of Crystal
4141 Douglas Drive North
Crystal, MN 55422
Attn: John Sutter
Or such other address as either party may provide to the other by notice given in accordance with
this provision.
11. Entire Agreement. This Agreement, any attached exhibits and any addenda or
amendments signed by the parties shall constitute the entire agreement between the EDA and the
Consultant, and supersedes any other written or oral agreements between the EDA and the
Consultant. This Agreement can only be modified in writing signed by the EDA and the
Consultant.
12. Third Party Rights. The parties to this Agreement do not intend to confer on
any third party any rights under this Agreement.
fb.us.3166730.04 4
13. Counterparts. This Agreement may be signed in one or more counterparts but
'all of which taken together shall constitute one instrument.
14. Choice of Law and Venue. This Agreement shall be governed by and construed
in accordance with the laws of the state of Minnesota. Any disputes, controversies, or claims
arising out of this Agreement shall be heard in the state or federal courts of Minnesota, and all
parties to this Agreement waive any objection to the jurisdiction of these courts, whether based
on convenience or otherwise.
15. Agreement Not Exclusive. The EDA retains the right to hire other housing
program consultants, in the EDA's sole discretion.
16. Data Practices Act Compliance. Data provided to the Consultant or created by
the Consultant under this Agreement shall be administered in accordance with the Minnesota
Government Data Practices Act, Minnesota Statutes, Chapter 13, as amended.
IN WITNESS WHEREOF, the parties hereto have executed, or caused to be executed by
their duly authorized officials, this Agreement on the respective dates indicated below.
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
am
Its: President
Date: , 20_
Its: Executive Director
Date: , 20 .
fb.us.3166730.04 5
CONSULTANT:
GREATER METROPOLITAN HOUSING CORPORATION
By:
Its: President
Date:
fb.us.3166730.04
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(JCRYSTAL EDA STAFF REPORT
Home Improvement Incentive Program for 2016
FROM: John Sutter, Community Development Director
DATE: November 12, 2016
TO: Anne Norris, Executive Director (for November 17 EDA meeting)
SUBJECT: Consider an agreement with Greater Metropolitan Housing
Corporation for the Home Improvement Incentive program in 2016
Since 2000, the EDA has operated an incentive program for home improvements under
contract with Greater Metropolitan Housing Corporation (GMHC) and its Northwest
Housing Resource Center. An expenditure summary from 2006 to present and a map
of 2014 recipient locations are attached.
The program was initially funded by the Minnesota Housing Finance Agency and
Metropolitan Council. In 2002 the EDA began providing local funding as the MHFA and
MC funding was exhausted. In 2009 the EDA began funding most of the program with
available increment from tax increment financing (TIF) districts.
In 2016, $199,800 has been budgeted for the program. This is $32,200 less than the
$232,000 budgeted for 2015. The reason for the reduction is that program demand and
expenditures seems to have settled at just under $200,000 per year. The proposed
sources of funds are $177,600 available increment from TIF districts and $22,200 from
the EDA.
EDA approval of the attached 2016 agreement is requested.
City of Crystal - Home Improvement Incentive Rebate - through September 30, 2015
On 4/01/2009, rebate percentages were increased: 10%01594o, 12% oWYo, and 15%725%. On 1/01/2012, rebate percentages were reduced: 7b% y7Wo, LU% ]17b%, and L5% ] zu7o.
AVERAGE QUARTERLY EXPENDITURES SINCE JANUARY 1, 2012 (when rebate percentages were reduced to current levels):
$664,180 REBATES PAID
$73,060 ADMINISTRATION FEES
$737,239 TOTAL EXPENDITURES SINCE JANUARY 1, 2012
15 NUMBER OF QUARTERS SINCE JANUARY 1, 2012
$49,149 AVERAGE QUARTERLY EXPENDITURES SINCE JANUARY 1, 2012
EXPENDITURES IN 2015: ADOPTED 2015 BUDGET:
$115,645 REBATES PAID $209,800 AVAILABLE INCREMENT FROM TIF DISTRICTS
$12,721 ADMINISTRATION FEES $22,200 FROM EDA
$128,366 TOTAL EXPENDITURES TO DATE $232,000 TOTAL
$232,000 2015 BUDGET
$103,634 BUDGET UNEXPENDED
PROPOSED 2016 BUDGET:
$177,600 AVAILABLE INCREMENT FROM TIF DISTRICTS
$22,200 FROM EDA
$199,800 TOTAL
Rebates Paid by Quarter
$120,000
$100,000
$80,000
$60,000
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On 4/01/2009, rebate percentages were increased: 10%01594o, 12% oWYo, and 15%725%. On 1/01/2012, rebate percentages were reduced: 7b% y7Wo, LU% ]17b%, and L5% ] zu7o.
AVERAGE QUARTERLY EXPENDITURES SINCE JANUARY 1, 2012 (when rebate percentages were reduced to current levels):
$664,180 REBATES PAID
$73,060 ADMINISTRATION FEES
$737,239 TOTAL EXPENDITURES SINCE JANUARY 1, 2012
15 NUMBER OF QUARTERS SINCE JANUARY 1, 2012
$49,149 AVERAGE QUARTERLY EXPENDITURES SINCE JANUARY 1, 2012
EXPENDITURES IN 2015: ADOPTED 2015 BUDGET:
$115,645 REBATES PAID $209,800 AVAILABLE INCREMENT FROM TIF DISTRICTS
$12,721 ADMINISTRATION FEES $22,200 FROM EDA
$128,366 TOTAL EXPENDITURES TO DATE $232,000 TOTAL
$232,000 2015 BUDGET
$103,634 BUDGET UNEXPENDED
PROPOSED 2016 BUDGET:
$177,600 AVAILABLE INCREMENT FROM TIF DISTRICTS
$22,200 FROM EDA
$199,800 TOTAL
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Home Improvement Incentive Program
(January 1, 2016 December 31, 2016)
A. Parties. This agreement is entered into between Economic Development Authority of
the City of Crystal ("EDA") and Greater Metropolitan Housing Corporation ("GMHC").
B. Program Title and Purpose of Agreement. This agreement is in regards to the
Home Improvement Incentive administered for EDA by GMHC at the Northwest
Housing Resource Center. This agreement is intended to provide funding to continue the
program after December 31, 2015, and to supersede and terminate the current agreement
on December 31, 2015, said current agreement having been authorized by EDA on
October 7, 2014.
C. Program Outline.
1. Objective. Encourage reinvestment in the City's owner occupied housing stock,
which makes up approximately 3/a of the City's housing units. EDA has
determined that this is a housing development project under Minnesota Statutes
469.017, and that households meeting the income eligibility requirements
described in Section 3 are considered to be low or moderate income households
for the purposes of this project. A secondary objective is, on a more limited basis,
to provide Last Resort grants that do not require homeowner match.
2. Goal. Assist with improvements to approximately 100 houses per year.
3. Eligibility.
a. Type of Property. The following property types are eligible for either
Incentive Rebates or Last Resort Grants:
PAGE 1 OF 1
❑ Owner -occupied single family homes in the City of Crystal, including
owner occupied townhouses.
❑ Two family dwellings in the City of Crystal, provided that (1) the
owner occupies one of the units and the property is homesteaded
according to the Hennepin County Assessor, (2) the rental unit has a
current rental license from the City of Crystal, and (3) the use of the
property as a two family dwelling is listed as a permitted use in the
zoning district in which it is located. Before approving such a request,
GMHC staff shall contact EDA staff to ensure that these requirements
have been met.
Rental property is not eligible, except for the aforementioned qualifying
two family dwellings subject to pre -approval by EDA staff.
Property which is not the owner's principal residence is not eligible.
b. Household Income. For Incentive Rebates, eligibility will be based on
household income as a percentage of the regional median income. In the
case of qualifying two family dwellings, eligibility will be based on the
household income of the owner occupant.
Eligibility shall be based on income as follows:
❑ 20% Rebate: Households with income up to 50% of the regional
median income.
❑ 15% Rebate: Households with income from 50%-80% of the regional
median income.
❑ 10% Rebate: Households with income from 80%-120% of the regional
median income.
❑ For Last Resort Grants, only households with income up to 50% of the
regional median income are eligible.
PAGE 2 OF 2
C. Type of Expenditures. Materials and labor expenditures for mechanical,
plumbing, electrical, exterior (roofing, siding, windows and doors),
general remodeling and additions to the principal building are considered
to be eligible expenditures. Eligible site improvements are limited to
essential utilities, detached accessory buildings, retaining walls, fences,
driveways, sidewalks and patios, decks, removal or trimming of diseased
or otherwise hazardous trees, and treatment of trees to protect from Dutch
Elm Disease or the Emerald Ash Borer. In all cases, for do-it-yourself
projects, only materials costs are eligible expenditures for either Incentive
Rebates or Last Resort grants.
For Last Resort Grants, the project must address an immediate, unplanned
need such as a failed sewer pipe or a furnace that needs replacement in the
middle of winter.
d. Minimum Project Size. For a project to be eligible for a rebate, the
eligible project costs must be at least $2,000, except for sanitary sewer or
driveway work completed concurrent with and related to a street
reconstruction project initiated by the city for which there is no minimum
project size.
4. Funding Cycle. Incentive Rebates and Last Resort Grants shall be disbursed on a
first-come, first-served basis beginning January 1, 2016 and ending whenever
EDA funds have been expended or December 31, 2016, whichever is earlier. The
maximum EDA expenditure during the term of this agreement shall be $199,800
comprised of the maximum of $180,000 for Incentive Rebates and Last Resort
Grants combined plus the maximum of $19,800 in administration fees described
in Section 6.
No more than $15,000 of EDA funds shall be spent on Last Resort grants per
year.
PAGE 3 OF 3
5. Amount of Assistance. For Incentive Rebates, depending on household income
(see "Eligibility" above), the Incentive Rebate amount shall be 10%, 15% or 20%
of eligible expenditures, not to exceed $10,000 per property per year. Incentive
Rebates are to be paid upon fulfillment of all requirements established by GMHC
and EDA including submittal of proof of payment and satisfactory completion of
work including final inspection as verified by GMHC with the city's Building
Official. Incentive Rebates are not retroactive; an application must be made to
and approved by GMHC before costs are incurred and work begins.
For Last Resort Grants, the maximum is $3,000 per property, one time. A
property receiving a Last Resort Grant will not be eligible again for Last Resort
funds until the property has a new owner occupant who is similarly eligible for
Last Resort Grant. Other rules governing Incentive Rebates, including
satisfactory completion and permit/inspection requirements, also apply to Last
Resort Grants.
6. Administration. Administrative fees paid to GMHC shall not exceed $19,800
for the term of this Agreement. GMHC shall field initial inquiries, receive and
keep copies of all cost invoices, prepare quarterly progress reports, and verify that
all required permits have been secured and that the work has been satisfactorily
completed. Administration fees shall be invoiced by and paid to GMHC at a rate
of 11 % of the amount of Rebates and Last Resort Grants paid by GMHC.
Administrative fees shall be invoiced by and paid to GMHC concurrent with
reimbursement for the respective actual Rebates and Last Resort Grants paid by
GMHC as described in Section 7.
Any invoices for administration shall include the recipient name, property
address, payment amount and date of any Incentive Rebates or Last Resort
Grants.
PAGE 4 OF 4
7. Reimbursement for Rebates Paid. Upon receipt of an invoice and supporting
documentation from GMHC, EDA shall reimburse GMHC for the actual
payments of Incentive Rebates and Last Resort Grants not previously reimbursed
by EDA. Such reimbursement shall be in addition to the disbursement of
administrative fees described in Section 6. GMHC shall provide to EDA copies
of any audit reports and financial management reports that include funds
disbursed under this agreement.
8. Records Retention and Availability. GMHC shall retain all records and files for
each respective Incentive Rebate or Last Resort Grant until the end of the
calendar year following its final close out by GMHC, at which time GMHC shall
provide the records and files to EDA. EDA retains the right to inspect or audit all
records relating to Crystal projects and the associated funding. Upon proper
notice, EDA or its delegate (city auditors, State Auditor etc.) can review and
inspect all records.
9. Term. The term of this Agreement is from January 1, 2016 through December
31, 2016.
D. Signatures.
ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL
By:
Its President
By:
Its Executive Director
Date:
Date:
20
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PAGE 5 OF 5
GREATER METROPOLITAN HOUSING CORPORATION
an
Its
Date:
20
PAGE 6 OF 6