Contract - DCI - Near Northwest Neighborhood Revitalization Organization - Provide Development Costs for New Construction of Single Family Home at 808 N Hill Street

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PROGRAM GUIDELINES In addition, Neighborhood Stabilization Program 3 (NSP3) guidelines must be followed including, but not limited to: documentation requirements, eligible home owners, and eligible properties. Refer to Federal Regulations and the NSP3 Implementation Overview provided by the City for guidance. TIMETABLE Costs may be incurred when the agency is notified to proceed by the Department of Community Investment. This activity shall commence on January 1, 2017, and shall continue to and include December 31, 2018. All funds unobligated by December 31, 2018 and all funds unspent by January 31, 2019 will be subject to reprogramming at the option of the City. PROJECT BUDGET The total NSP3 budget for the Redevelopment of Vacant or Demolished Properties activity (1740-21) shall not exceed $210,000.00. It is understood that the developer fee cannot exceed 10.0% of funds expended or a maximum of $19,090. Development Costs, including: $190,910.00 Pre -development (surveys, professional services, etc.) Construction Holding fees Developer Fee (not to exceed) $ 19,090.00 $ 210,000.00 NON -EXPENDABLE PROPERTY Notwithstanding any provision herein to the contrary, no costs may be incurred for non -expendable property (equipment, furniture, fixtures, etc.) without obtaining prior written approval from the Division of Community Development. PRIOR APPROVAL To expend funds for cost categories, type of activities, or location not listed above will require prior written approval from the Division of Community Development. FINANCIAL AND ADMINISTRATIVE REPORTS The Agency shall utilize the Reimbursement and Progress Report (R & P Report) supplied by the City for submission of claims and activity status reports to the City. The Agency understands that claims for reimbursement of expenses (goldenrod forms) shall be accompanied by a R & P Report and by proper documentation (check copies, invoices, staff time distributions, etc.). The City reserves the right to refuse any or all claims not properly supported with adequate and proper documentation of claims and activity progress.