Project Assistance Agreement - Patronicity - Disbursement of Matching Grant Funds to the City for MLK Monument

Home Browse Search

CreatINg Places Project Assistance Agreement THIS CreatINg Places Project Assistance Agreement (this "Agreement") is entered into by and between the Catalaunch, LLC d/b/a Patronicity, ("Patronicity"), and The City of South Bend, (the "Grantee"), as of this 7th day of March, 2017. WHEREAS, Grantee has applied to the Indiana Housing and Community Development Authority ("IHCDA") for a grant of Affordable Housing and Community Development Funds ("Development Funds") to receive matching funds for Place - based improvements, which are activities that focus on redevelopment and creation of quality public spaces that contribute to people's health, happiness, and well-being or Placemaking activities which are improvements that will assist in reimagining and reinventing public spaces as the heart of every community and strengthening the connection between people and the places they share in accordance with the CreatINg Places Program Manual; (the "Project"); WHEREAS, such Development Funds are State funds that are administered by IHCDA; and NOW, THEREFORE, in consideration of the mutual undertakings and covenants contained herein, Patronicity and the Grantee agree as follows: 1. TERM. This Agreement shall be effective as of the first date listed above (the "Effective Date") and shall extend through one (1) year and six months after the Effective Date (the Term"). Notwithstanding the foregoing, Grantee is required to complete the project in the time frame set forth in Subsection B of Section 13 of this Agreement. 2. USE AND DISBURSEMENT OF GRANT PROCEEDS. Patronicity agrees to use the Development Funds to provide a matching grant to the Grantee, in an amount not to exceed $20,000 ("the Grant Amount"). The Grantee agrees to use the Development Funds and the funds raised through Patronicity's crowdfunding platform for the Project described in Exhibit A, attached hereto and incorporated by reference into this Agreement and in accordance its application submitted to IHCDA for the CreatINg Places Program (the "Program"). 3. INELIGIBLE EXPENSES. The Grantee shall promptly repay IHCDA for any Development Funds it utilizes for expenses that are deemed "ineligible" by any of the following: IHCDA, Patronicity, or the CreatINg Places Program Manual. This section shall survive the expiration or termination of the Agreement. 4. INSURANCE. The Grantee must take reasonable means to protect from theft, vandalism or waste any personal and/or real property acquired and/or improved with funds received or raised through the Program and purchase insurance for said property at adequate limits, as applicable. This section shall survive the expiration or termination of the Agreement. 5. GRANTEE'S COOPERATION. Grantee agrees to cooperate with Patronicity and IHCDA and to provide either with information, records, and access to the Project. Patronicity and/or IHCDA will send representatives to monitor the Project. A. IHCDA or Patronicity may immediately suspend or terminate this Agreement if the Grantee fails to comply with any material term of the Agreement. B. This Agreement may be suspended and/or terminated immediately by IHCDA, if the Grantee has committed fraud or has misused or misappropriated funds received under this Agreement or another agreement between the Grantee and the IHCDA. In this event IHCDA may recapture or de -obligate all or any portion of this award. C. This Agreement may be terminated at any time, by either party, with or without cause, upon thirty (30) days written notice. Written notice of such termination must be sent to the other party by certified mail, return receipt requested, postage prepaid.