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Home My WebLink About20023235 RESOLUTION RE: APPROVE SUBCONTRACT FOR CDBG GRANT FOR WELD LARIMER REVOLVING LOAN FUND AND AUTHORIZE CHAIR TO SIGN - GREELEY/WELD ECONOMIC DEVELOPMENT ACTION PARTNERSHIP WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board has been presented with a Subcontract for a Community Development Block Grant (CDBG) for the Weld Larimer Revolving Loan Fund between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and the Greeley/Weld Economic Development Action Partnership, commencing December 19, 2002, with further terms and conditions being as stated in said subcontract, and WHEREAS, after review, the Board deems it advisable to approve said subcontract, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Subcontract for a Community Development Block Grant (CDBG) for the Weld Larimer Revolving Loan Fund between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and the Greeley/Weld Economic Development Action Partnership be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign said subcontract. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 23rd day of December, A.D., 2002, nunc pro tunc December 19, 2002. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO 3, i \- ne , ATTEST: 1I EXCUSED I� Gleftaad,t ChatWeld County Clerk to ` g c$ / I1� � � David ng, Pro-Tern Deputy Clerk to the Boar '=� Q.c_i M. J. Geile O ED AS EXCUSED DATE OF SIGNING (AYE) William H. Jerke Coun orn y EXCUSED /N20O3Robert D. Masden Date of signature: 2002-3235 FI0035 SUBCONTRACT AGREEMENT BETWEEN WELD COUNTY AND GREELEY/WELD ECONOMIC DEVELOPMENT ACTION PARTNERSHIP THIS AGREEMENT is entered into this 19th day of December, 2002, by and between the Weld County Board of County Commissioners (hereinafter "the County") and the Greeley/Weld Economic Development Action Partnership, Inc. (hereinafter"EDAP"). WITNESSETH: WHEREAS, the County has received a Community Development Block Grant (CDBG) award of $850,000 from the State of Colorado Department of Local Affairs pursuant to Contract Number F03CDB02082 (hereinafter "the Contract") for a multi jurisdictional economic development revolving loan fund, for the purpose of encouraging economic diversification and job creation in Weld and Larimer Counties, Colorado, hereinafter referred to as the Weld/Larimer Revolving Loan Fund (RLF) and; WHEREAS, EDAP has been designated to administer these CDBG funds on behalf of Weld County, the lead applicant; WHEREAS, up to $91,800 of CDBG funds are allowed under"Specific Provisions" in the Contract's Scope of Service (found in exhibit A, which is attached hereto and made a part of this agreement)for restricted administrative purposes: NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows: 1. The CDBG funds will be utilized in the furtherance of economic growth, creation of jobs and fulfillment of the purposes set forth in the Contract Scope of Services. 2. The CDBG funds shall be requested by EDAP from the Department of Local Affairs as prescribed in Part X, Section II of the Community Development Block Grant Program 2001 Grantee Handbook, and placed in I BankOne, Greeley, Colorado I , a Federally Insured Depository, in the name of the Weld/Larimer Revolving Loan Fund. Coordination between the County and EDAP shall be made to ensure consistency with the fund request procedures as established for the CDBG program. 3. It is agreed that all fund repaid under this contract are classified as "Miscellaneous Income" and shall be retained as an asset of EDAP and will be used for future business development and expansion loans according to the established RLF loan policies, all as more fully set forth in the Letter of Understanding between EDAP and Weld County executed December 10, 1997. Miscellaneous Income shall consist of all income derived from the use of CDBG funds. 4. EDAP will comply with all terms and conditions of the Contract and all applicable laws in carrying out project operations, and shall assign management and coordination responsibilities to Jean Daviet, Administrator of the Weld/Larimer Revolving Loan Fund program. Page 1 of 3 2002-3235 5. EDAP will provide for an audit of the CDBG program as part of its annual audit report, and will provide all program documentation to the County for audit. 6. EDAP anticipates adequate funding levels for its organization during the term of the Agreement. In the event any difficulties are projected which might potentially affect any part of its administrative obligations under this Agreement, EDAP will inform the County and make every effort to seek appropriate solutions or identify alternative arrangements in order to meet Contract requirements. 7. EDAP shall fulfill all administrative and reporting requirements of CDBG as required per the attached CDBG Contract, Exhibit A, which is attached and made a part of this Agreement, to ensure full grant compliance on the County's behalf at all times. 8. EDAP agrees to reimburse the County for any funds disallowed or penalties under the CDBG due to any administrative error or omission, fraud, theft, or negligence by EDAP or EDAP's staff. EDAP shall indemnify the County for any and all liability or loss suffered by the County and resulting from any such administrative error or omission, fraud, theft, or negligence by EDAP or EDAP's staff. 9. EDAP agrees to prepare all necessary environmental reviews, public notices, loan documents, and other documents required to comply with the CDBG rules and regulations. The Weld County Attorney shall review and approve as to form all loan documents prior to execution of this project. 10. EDAP shall prepare the quarterly progress reports within 15 days following the end of the quarter under this grant and present them to the County for approval and signing. Jean Daviet shall be authorized to sign the Requests for Advance or Reimbursement and the Quarterly Financial Status Report. These latter two documents shall be reviewed by the County's Finance Officer prior to transmittal and a copy retained for County records. 11. EDAP shall maintain all public records for this HUD-CDBG program at their corporate offices and provide public access to these records during normal business hours. Personal financial records and other confidential information concerning individual borrowers under the program shall be held confidential and with limited access as identified in the loan policy statement. Actual loan documents, including the amount and terms of the loan and other contracts shall be made available upon request. The County shall have unlimited access to all records pertaining to this loan. 12. EDAP shall be allowed to retain all forms of program income. Upon dissolution these funds shall be returned to the County. 13. This Agreement may be amended or assigned in writing by the mutual agreement of the parties. 14. This Agreement entered into this 19th day of December, 2002 , shall be in force during the Grant Period and shall terminate upon completion of all project close-out requirements as specified in the 2001 Grantee Handbook. For non-performance by EDAP, the County can terminate this Agreement with seven (7) days notice to EDAP. Page 2 of 3 ATTEST: iitighaa ,loss aOARD OF COUNTY COMMISSIONERS rl``\ Weld County Clerk to the Eli. . a �,r 4F1 • a David E. Long, Chair Pro- em CO,d/ft / 1 \ �* (12/23/2002) BY: .,1 Deputy Clerk to the Board GREELEY/WELD ECONOMIC DEVELOPMENT ACTION PA TNERSHIP, INC. .// 2/?( / BY:. -1O1V— ( / ��'C Ge©rge W. Hall,Chairman SUBSCRIBED AND SWORN to before me this nt day of AffiM -titi , WITNESS my hand and official seal. C7 1/,Cj Notary Public My Commission Expires: eillk Page 3 of 3 Hello