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r , <br /> allocate costs between grant years as required to effectively administer the HOME <br /> program. <br /> 8. Funds allocated to the City for Administration, as defined by HUD and within the <br /> amounts allocated by the County to City each year, are available to the City without the <br /> requirement of an application and formal commitment. All other funding expended <br /> under this Agreement must follow the procedures outlined in this Agreement. <br /> 9. City must commit funds under this Agreement to HOME eligible projects or programs <br /> by December 31, 2015. Any funds not under contract at that time shall be placed in the <br /> HOME Construction Fund and distributed by County to finance HOME-eligible <br /> affordable housing projects. Funds contributed to the Construction Pool will not be <br /> returned to the jurisdiction unless the jurisdiction applies to the Construction pool with <br /> an eligible project. <br /> 10. City agrees to abide by uniform administrative requirements stated in 24 CFR Part <br /> 92.505. <br /> 11. To comply with the HOME regulation that funds be spent within 15 days of <br /> disbursement, City shall request reimbursement of expenditures. In the case of a known <br /> large expense, City may request, in writing, from the County an advance of the <br /> necessary amount of the funds, which will be expended within the time allowed. The <br /> amount of each request shall be limited to the amount reasonably anticipated to be <br /> needed. <br /> 12. Loan repayments, interest or other return on City's investment of HOME funds disbursed <br /> through this contract shall be collected by City and transferred to the County within 30 <br /> days of receipt. The County will hold any such funds for additional HOME-eligible <br /> activities in City. In the case of homebuyer assistance payments, the City may retain <br /> payments for future homebuyer assistance activities funded with HOME funds in <br /> accordance with HOME regulations. <br /> 13. County and City will cooperate in the preparation of, and will furnish any and all <br /> information required for, reports to be prepared as may be required by HOME <br /> regulations including but not limited to the Consolidated Plan, the annual performance <br /> report and any quarterly reports required by County. <br /> 14. Activities and programs under this Agreement shall be governed by the policies and <br /> procedures of the HOME Consortium or as directed by the County as lead agency, in <br /> order to ensure compliance with all federal laws and regulations. <br /> C GENERAL REQUIREMENTS <br /> 1. City and County shall maintain, on a current basis, complete records, including, but not <br /> limited to, contracts, books of original entry, source documents supporting accounting <br /> transactions, eligibility and service records as may be applicable, a general ledger, <br /> personnel and payroll records, canceled checks and related documents and records to <br /> assure proper accounting of funds and performance of this contract in accordance with <br /> HOME regulations. To the extent permitted by law, County and City will also permit <br />