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PAGE 6 <br />III. Developmental Cost <br />The following breakdown show the elements involved <br />in the developmental <br />cost of $35,000; however, the $35,000 is presented <br />as lump -sum <br />expenses to permit flexible budgeting among expense <br />categories to <br />meet unforeseen contingencies in the developmental <br />process. <br />Local Staff (Full -time, approximately 10* months) <br />$12,500 <br />Travel and 'training for local staff <br />3,000 <br />Fringe costs (FICA, vacation, life and health <br />insurance, local staff) <br />2,000 <br />Workshop Expenses <br />Lodging, meals, meetings <br />7,000 <br />Speakers, resource persons <br />2,000 <br />Participant's travel <br />4,000 <br />Follow -up Seminars for Lending Officers, <br />appraisers and private mortgage <br />insurance representatives <br />2,500 <br />Miscellaneous <br />Materials, postage, printing, telephone <br />contingencies <br />2,000 <br />TOTAL $35,000 <br />Any unexpended balance of development funds will be contributed to the Neighborhood <br />Housing Services Corporation based on the reallocation process of the City <br />of South Bend. <br />IV. Budgetary support for the developmental program should be paid upon <br />execution of this agreement to the Urban Reinvestment Task Force whose <br />comptroller is the Fiscal Agent of the Federal Home Loan Banks. The <br />Fiscal Agent will act as the program controller, and disburse and account <br />for funds. Any checks issued for the program must be made payable to <br />