Requests for Disbursement of Funds. A. Project expenses shall be paid based on vouchers for actual expenses incurred or paid. Requests for payment must be submitted by the DEVELOPER on an invoice containing the organization logo or letterhead, contain an itemized list of items to be reimbursed, total dollar amount requested, along with adequate and proper documentation of all eligible costs incurred in compliance with the actual cost of construction (92.206). (See Attachment B for reimbursement process). All such expenses shall be in conformance to the approved project budget. Budget revision and approval shall be required prior to payment of any expenses not conforming to the approved project budget.
B. The CITY shall pay the DEVELOPER, as maximum compensation for services required pursuant to the Scope of Work thereof,
C. The CITY reserves the right to inspect records and project sites to determine that reimbursement and compensation requests are reasonable. The CITY also reserves the right to hold payment until adequate documentation has been provided and reviewed.
D. The DEVELOPER may submit a final invoice upon completion. Final payment shall be made after the CITY has determined that all services have been rendered, files and documentation delivered, and units have been placed in service in full compliance with HOME regulations, including submission of a completion report and documentation of eligible occupancy, property standards and long-term use restrictions.
E. Affordability (92.252; 92.254): The CITY shall have the right to review and audit all records of the DEVELOPER pertaining to any payment by the CITY. Said records shall be maintained for a period of five years after the project completion date. Except, for documents imposing Resale/Recapture restrictions which must be retained for Five years after the affordability period terminates [92.508 (c)(2)]. The HOME-assisted housing must meet the affordability requirements for not less than the applicable period specified in the following table, beginning after project completion.[92.254 (a)(4)]. Under $15,000 5 $15,000 to $40,000 10 Over $40,000 15
Requests for Disbursement of Funds. The agreement must specify that the State recipient may not re- quest disbursement of HOME funds under this agreement until the funds are needed for payment of eligible costs. The amount of each request must be limited to the amount needed. Program income must be disbursed be- fore the State recipient requests funds from the State.
Requests for Disbursement of Funds. The agreement must specify that the subrecipient may not request disburse- ment of funds under the agreement until the funds are needed for payment of eligible costs. The amount of each request must be limited to the amount needed. Program income must be dis- bursed before the subrecipient requests funds from the participating jurisdic- tion.
Requests for Disbursement of Funds. The agreement must specify that the developer may not request dis- bursement of funds under the agree- ment until the funds are needed for payment of eligible costs. The amount of each request must be limited to the amount needed.
Requests for Disbursement of Funds. The agreement must specify that the subgrantee may not request disbursement of funds under the agree- ment until the funds are needed for payment of eligible costs. The amount of each request must be limited to the amount needed. Program income must be disbursed before the subgrantee re- quests grant funds from the grantee.
Requests for Disbursement of Funds. The agreement must specify that the recipient may not request dis- bursement of funds under the agree- ment until the funds are needed for payment of eligible costs. The amount of each request must be limited to the amount needed.
Requests for Disbursement of Funds. All requests by the State Recipient for the disbursement of CHIP funds must be made in accordance with the CHIP Administrative Manual. Under no terms shall the State Recipient request disbursement of funds until such time that the funds are needed for payment of eligible costs. In addition, the amount of each request must be limited to the amount needed.
Requests for Disbursement of Funds. The CHDO covenants and agrees not to request disbursement of HOME Funds until such funds are needed for payment of Eligible Costs as provided for in the Disbursement Procedures. The CHDO further covenants and agrees that the amount of each request will be limited to the amount needed for payment of Eligible Costs.
Requests for Disbursement of Funds. 24 CFR 92.504(c)(3)(viii). Borrower shall not request disbursement of HOME funds until the funds are needed to pay eligible costs. The amount of each disbursement request shall be limited to the amount needed. City shall have the right to disapprove any request if City determines the request is for an ineligible item or is otherwise not in compliance with or inconsistent with the Loan Agreement and this Agreement.
Requests for Disbursement of Funds. Payment is made on a reimbursement basis of actual and proper expenditures and shall be made in accordance with this Agreement between City and Developer. The Developer may only request disbursement of funds when funds are needed for payment of eligible costs, and the amount of the disbursement request must be limited to the amount needed. The City shall only reimburse HOME- eligible expenses, following on-site inspection for construction compliance. The City may withhold any payment if the Developer has failed to comply with program objectives, contractual terms, or reporting requirements. The City may withhold payment of the final five percent (5%) of the total award amount until the Developer has submitted, and the City has accepted, all required financial and performance report information required pursuant to either the Project or City requirements. The following documentation must be submitted for payment requests: • Invoices, receipts, purchase orders, and/or contracts pertaining to the specific request for disbursement. • Completed Request for Reimbursement and Progress Report form.
