Common use of Joint Funding Clause in Contracts

Joint Funding. For programs in which there are sources of funds received by Subrecipient from the private sector in addition to HUD/CDBG funds, Subrecipient shall provide proof of such funding to City upon receipt of such funds. City shall not reimburse for any services provided by Subrecipient which are funded by other sources. All restrictions and/or requirements provided in this Agreement relative to accounting, budgeting, and reporting apply to the total program regardless of funding sources. The United States of America through HUD may in the future place programmatic or fiscal limitations on CDBG funds not presently anticipated. Accordingly, the City reserves the right to amend this Agreement in order to take account of actions affecting HUD program funding. In the event of funding reduction, City may reduce all or part of the budget and compensation payable to Subrecipient under this Agreement, and may, at its sole discretion, limit Subrecipient’s authority to commit and spend funds, and may restrict Subrecipient’s use of both its uncommitted and its unspent funds. Where HUD has directed or requested City to implement a reduction in funding, with respect to funding for this Agreement, the City Manager or his designee, may act for City in implementing and effecting such a reduction by amending this Agreement for such purpose.