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r" , <br /> CONTRACT DESIGNATING THE CITY OF PLEASANTON <br /> AS A SUBRECIPIENT OF HOME FUNDS <br /> This SUBRECIPIENT AGREEMENT is made and entered into this 1st day of July 2015, by and <br /> between the CITY OF PLEASANTON, hereinafter called "City," and the COUNTY OF <br /> ALAMEDA, a body corporate and politic of the State of California, hereafter called "County." <br /> WITNESSETH: <br /> WHEREAS the City and County have entered into a Cooperative Agreement to form, along with <br /> other cities the Alameda County HOME Consortium (the "Consortium") to qualify for HOME <br /> Investment Partnership Act funds, funded by the U.S. Department of Housing and Urban <br /> Development; and <br /> WHEREAS the County is the lead agency in the Consortium, designated by HUD as the HOME <br /> Participating Jurisdiction; and <br /> WHEREAS the City and the County have determined that it is mutually beneficial to have County <br /> disburse HOME funds for HOME-eligible activities in City; and <br /> WHEREAS the City must be designated a HOME Sub-recipient in order to directly execute <br /> contracts for and implement HOME-funded activities within its jurisdiction; and <br /> rTh <br /> WHEREAS, the City and County desire to enter into this Subrecipient Agreement (the <br /> "Agreement") for the purpose of designating the City a HOME subrecipient; (\-) <br /> VA <br /> NOW, THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: N <br /> A. STATEMENT OF WORK <br /> 1. The Term of this Agreement shall be from July 1, 2015 until June 30, 2019, or until all <br /> fiscal year 2015 HOME funds allocated to City for a project are disbursed to City, or for <br /> the duration of any regulatory agreement executed in conjunction with a project financed <br /> with all of the fiscal year 2015 HOME funds, or when all of the contract terms have been <br /> completed whichever shall first occur. <br /> B. COMMENCEMENT AND COMPLETION REOUIREMENTS <br /> 1. Upon execution of this Agreement, City shall be designated as a HOME Subrecipient for <br /> 2015 fiscal year funds for the purpose of administering HOME administrative funds. <br /> When a HOME project application(s) is submitted to the County and approved for <br /> HOME-eligible activities in the City, this Subrecipient Agreement will be amended to <br /> add those HOME funds associated with the approved project(s) to this agreement. <br /> Applications must be received by November 1, 2015. Extensions to this date may be <br /> granted by the Housing Director <br /> 2. The maximum amount of HOME funds covered by this Agreement shall be $64,473.82 <br /> as set forth in attached Exhibit A. Initially, not more than $6,762.67 ($4,744 of HOME <br /> administrative funds and $2,018.67 of Program Income Project Administrative funds) <br /> will be provided to City prior to submission of project applications. The remaining <br />