HomeMy WebLinkAbout940613.tiff RESOLUTION
RE: APPROVE SUBCONTRACT AGREEMENT FOR COMMUNITY DEVELOPMENT BLOCK GRANT AND
WELD/LARIMER REVOLVING LOAN FUND WITH GREELEY/WELD ECONOMIC DEVELOPMENT
ACTION PARTNERSHIP AND AUTHORIZE CHAIRMAN TO SIGN
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 Agreement, for the
Community Development. Block Grant award of $250,000 from the State of Colorado
Department of Local Affairs 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, with terms and conditions being as stated in said agreement, and
WHEREAS, after review, the Board deems it advisable to approve said
agreement, 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 Agreement, for the Community Development
Block Grant award of $250,000 from the State of Colorado Department of Local
Affairs 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 Chairman be, and hereby is,
authorized to sign said agreement.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 27th day of June, A.D. , 1994.
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WELDD OF TYUNCY ORADISSIONERS
ATTEST: WELD COUNTY, COLORADO �—/ q �)
Weld County Clerk to the Board l /LC-r'/
/), , �/ H. We ster, ha' rman 1/
BY: ( J6 L &4' L CPC
Deputy Cl k to the Board Dale K. Ha 1, Pr Tem
APPROVED AS TO FORM: a
Geo�e/E. Baxter
County Attor ey Con,stance L. Harbert
sue' s![ i �-4 . y;i_
Barbara J. Kirk eyer O
940613
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SUBCONTRACT AGREEMENT
BETWEEN
WELD COUNTY
AND
GREELEY/WELD ECONOMIC DEVELOPMENT ACTION PARTNERSHIP
THIS AGREEMENT is entered into this £4 day ofcanu._ 1994, by and
between the Weld County Board of County Commissioners (hereinafter "the
County") and the Greeley/Weld Economic Development Action Partnership
(hereinafter "EDAP").
WITNESSETH:
WHEREAS, the county has received a Community Development Block Grant
(CDBG) award of $250,000 from the State of Colorado Department of Local Affairs
pursuant to Contract Number C854963 (hereinafter "the Contract") to continue a
multi-jurisdictional economic development revolving loan fund, hereinafter
referred to as the Weld/Larimer Revolving Loan Fund (RLF), for the purpose of
encouraging economic diversification and job creation in Weld and Larimer
Counties, Colorado, and;
WHEREAS, EDAP has been designated to administer these CDBG funds on
behalf of Weld County, the lead applicant;
WHEREAS, up to $25,000.00 of CDBG funds are allowed under "Specific
Provisions" in the Contract's Scope of Services for restricted administrative
purposes.
NOW, THEREFORE, in consideration of the mutual promises and
convenants 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 found in Exhibit A, which is attached hereto and made a part of this
agreement.
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 1984 Grantee Handbook, and placed in Bank One, Greeley, 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 the CDBG program income will be used for future business
development and expansion loans. Program income shall consist of all income
derived from the use of CDBG funds.
F/CO(P 67//O6;l3
Page 2
RE: SUBCONTRACT AGREEMENT - EDAP
4. EDAP will utilize CDBG administrative funds (up to $25,000.00) and other
resources to provide administrative services for the RLF program, which include
the following:
a) Activities and funciton for loan packaging and business technical
assistance covered by CDBG Contract administrative provisions, such as work
done to: solicit business participation; assist businesses in completing
applications, business plans, and financial statements; identify private or
other public lender interest and participation; review and evaluate loan
applications; assist in loan closing; monitor funded business projects; provide
management assitance; coordinate secondary market loan sales for
recapitalization purposes; conduct related business seminars and the RLF
workshop; and any associated travel, telephone, clerical, and supply costs.
Also covered is work needed for individual business projects in meeting with
environmental, labor standards, employment, and other compliance
requirements. The primary source of cash match for CDBG administrative
funds will be program income, with any local cash or other permissible
resources utilized if needed.
b) Other administrative activities and functions, shall include grant and
RLF financial management, general office management, payments,
preparation and maintenance of project files and records, and preparation of
additional grant applications.
5. 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 Jodi Hartmann, Manager of the Weld/Larimer
Revolving Loan Fund program.
6. A Loan Review Committee (LRC) consisting of three representatives who
are residents of Larimer County appointed by the Larimer County Commissioners,
and three representatives who are residents of Weld County, appointed by the Weld
County Commissioners has been established. The LRC shall have authority to
establish loan criteria, commit money for loan projects, and determine operational
procedures and policy which will guide and prioritize the EDAP staff efforts.
7. Consistent with LRC policy, borrowers will be charged the cost of credit
reports and appraisals, loan origination fees, closing costs, and other related
expenses.
8. The County, LRC, and EDAP aree to treat all loans and loan applications in
a confidential manner in accordance with all applicable laws and regulations.
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Page 3
RE: SUBCONTRACT AGREEMENT - EDAP
9. The County will audit the CDBG program as part of its annual audit
report, with EDAP paying for the RLF's portion of the audit as an administrative
expense. EDAP will provide all RLF documentation to the County for the audit.
10. 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.
11. 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.
12. 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.
13. 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 signatory as the Certifying Official for enrironmental
reviews shall be Jodi Hartmann, Manager of the RLF. The Weld County Attorney
shall review and approve as to form all loan documents prior to execution of this
program.
14. 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. The EDAP President, William J. Argo, 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.
15. 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.
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RE: SUBCONTRACT AGREEMENT - EDAP
16. EDAP shall be allowed to retain all forms of program income. Upon
dissolution these funds shall be returned to the County.
17. This agreement may be amended or assigned in writing by the mutual
agreement of the parties. � //'
18. This agreement entered into this L A day of
1994, shall be in force during the Grant Period and shall termin e upon completion
of all project close-out requirement as specified in the 1984 Grantee Handbook. For
non-performance by EDAP, the County can terminate this Agreement with seven
(7) days notice to EDAP.
AT ST: 4td4 BOARD OF COUNTY COMMISSIONERS
Weld County Clerk to the Board BY: it'I Z2
Willi 'am H. Webster, Chairman # /;Q 9/
BY: f /! a.
Deputy Clerk to'the Boar-
GREELEY/WELD ECONOMIC
DEVELOPMEN CTION PARTNERSHIP
BY: ,GG'f�Chair an
SUBSCRIBED AND SWORN to before me this a3 day oft
1994.
WITNESS my hand and official seal.
SNotaOIL,ILL—rn.-a-74-7,_
Public
My Commission Expires: 9//7/9
940G13
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