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Home My WebLink AboutA3611 - HUD SECTION 108 LOAN R 18740 HUD Sec 108 Loan Commitment Funii:!,qApproval/Agreemen U.S. Department Create Ind Dev/Bus Credit Tale 16f the Housing and CoRrmunity and Urban Develop en Enhancement Loan Program Development Act (Public Law 93 383) Office of Community PI AGREEMENT #3611 and Development Res 18740, 11-15-95 HI-00515R of 20515R Community Development 1.Name of Grantee(as shown in Item 5 of Standard Form-424) 3,Grantee's 9-Digit Tax ID Number 4.Date Use of Funds May Begin CITY OF PALM SPRINGS, CALIFORNIA 5a.Project/Grant Number 1 so. Amount Approved 2.Grantee's Complete Address(as shown in Item 5 of Standard Form-424) B-94—MC-06-0561 5b.Project/Grant Number 2 6b.Amount Approved 3200 E. TAHQUIT2 CANYON WAY 5c. Project/Grant Number 3 6c. Amount Approved PALM SPRINGS, CA 92263 Grant Agreement This Grant Agreement between the Department of Housing and Urban Development (HUD) and the above named Grantee is made pursuant to the authority of Title I of the Housing and Community Development Act of 1974, as amended, (42 U.S.C. 5301 et seq). The Grantee's submissions for Title I assistance,the HUD regulations at 24 CFR Part 570 (as now in effect and as may be amended from time to time), and this Funding Approval, including any special conditions, constitute part of the Agreement. Subject to the provisions of this Grant Agreement, HUD will make the funding assistance specified here available to the Grantee upon execution of the Agreement by the parties. The funding assistance specified in the Funding Approval may be used to pay costs incurred on or after the date specified in 4 above provided the activities to which such costs are related are carried out in compliance with all applicable requirements. Pre-agreement costs may not be paid with funding assistance specified here unless they are authorized in HUD regulations or approved by waiver and listed in the special conditions to the Funding Approval. The Grantee agrees to assume all of the responsibilities for environmental review, decision making, and actions, as specified and required in regulations issued by the Secretary pursuant to Section 104(g) of Title I and published in 24 CFR Part 58. The Grantee further acknowledges its responsibil' for adherence to the Agreement by subrecipien't entities to which it makes funding assistance hereunder available. U.S.De !ant(( Urb n pment Isignatur�me,title,date) Grantee( gesturedate t C� X NETH C. WWI I , DEPUTY ASSISTANT FOR j y Manage +_ GRANT PROGRAM "CITY OF PALM SPRINGS CALIFORNIA 7. Check Only One: Category of Title I Assistance for this 8. Special 9a. Date HUD Received Submission: 10. Check One: Funding Action Conditions a.Orig.Funding Approval a. Entitlement,Sec106(b) (check one) 96.Data Grantee Notified: b. State-Administered,Sec 106(d)(1) None b.Amendment X 9c.Date of Start of Program Year: c.Amendment Number c. HUD-Administered Small Cities, Sec 106(d)(2)IB) Attached X d. Indian CDBG Programs,Sec 106(a)(1) 11. Amount of Community e. Surplus Urban Renewal Funds,Sec 112(b) Development FY 94 FY FY Block Development f. Special Purpose Grants, Sec 107 a. Funds Reserved For This Grantee U. Loan Guarantee, Sec 10B X b. Funds Now Being „., Approved c. Reservation To Be Cancelled(1'la minus 11b) 12a. Amount of Loan Guarantee Commitment Now Being Approved: 12b.Name and Complete Address of Public Agency 2,000,000P F ATTEST: CITY O ALM SPRINGS, CALIFORNIA L Loan Guarantee Acceptance Provisions for Designated Agencies The public agency hereby accepts the Grant Agreement executed by the Department of Housing and Urban Development on the above date with respect to 12c. Signature of Authorized Official(name,title,date)for the above grant number(s) as Grantee designated to receive loan guarantee Designs Public Agen , assistance, and agrees to comply with the terms and conditions of the Agreement -',,," � applicable regulations, and other requirements of HUD now or hereafter in effect!,, pertaining to the assistance provided it. i ty Manager HUD Accounting Use Only TAC Butch 1 7 6 Programp A� Reg. Area Document No. Project Number Cateoory Amount Effective Im W 06 0561 Project Number Amount Project Number Amount �J Data Entered PAS Date Entered LOCCS Batch ®Number Transaction Code Entered by: Verified by: Previous Editions are Obsolete p r-r.? y form HUD-7082 14114193) P'1 NPRV (�Y TFIrn i�.�l"Vr✓,..F.X�B'e 0�, 24 CFR 570 8. Special Conditions: (a) In the event the applicant shall fail to submit a promissory note or other obligation to the Secretary for inspection and guarantee before October 1, 1996, this commitment shall terminate and expire as of such date. (b) The repayment schedule for the guaranteed loan shall be acceptable to the Secretary. (c) Pursuant to 24 CFR 570.705 (b) (3) , the applicant shall furnish such additional security for the loan guarantee as the Secretary deems appropriate. Such additional security shall be specified in the contract required under 24 CFR 570.705(b) ( 1) . (d) The applicant shall not incur any obligations to be paid with guaranteed loan funds prior to the receipt of a written determination, from the HUD Los Angeles Office, that the activities or projects to be assisted meet applicable eligibility and national objective requirements, and the public benefit standards of 24 CFR Section 570 .209 (b) .