Agmt 2009 Alameda County (2) - Laserfiche WebLink

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Exhibit D - NSP Program Agreement ARTICLE 2. ALLOCATION AND EXPENDITURE OF FUNDS Section 2.1 Use of NSP2 Funds. The County is authorized to use Consortium Funds solely for the purpose of carrying out the NSP2 Activities in a timely manner and in compliance with the NSP2 Requirements. The County may use Consortium Funds solely for the benefit of Low-, Moderate-, and Middle-Income Households. Section 2.2 Adjustment to NSP2 Budget The Consortium Budget allocates Consortium Funds based on the amount of Consortium Funds being $11 million. If the amount of Consortium Funds is less than $ ll Million, the amounts shown for each NSP2 Activity in the NSP2 Budget will be reduced proportionately. Section 2.3 Allocation of NSP2 Funds. (a) Low Income Households. In accordance with NSP2 Requirements, at least twenty-five percent (25%) of the Consortium Funds must be used for the benefit of Low-Income Households. The County shall commit at least twenty-five percent (25%) of the Consortium Funds to NSP2 Activities that benefit Low-Income Households. The County may satisfy this obligation in whole or in part by contributing a portion of these allocated funds to NSP2 Activities that (i) are carried out by another Member or Members on projects approved by the Steering Committee, and (ii) benefit Low-Income Households within the jurisdiction of such other Member or Members. These funds maybe contracted for by the County, if other funding sources the County administers are also committed to the project. Alternatively, if the County is not funding the approved project directly, the County may transfer an allocation of Consortium Funds to the Member for the Member to administer directly. (b) Funds for Administrative Costs Ten percent (10%) of the Consortium Funds are allocated to the Lead Member for administrative costs incurred as Lead Member for costs associated with both grant administration and project administration. If Consortium Funds under item (a) above are contractually transferred to a Member, funds for administrative costs equal to 10% of the project amount, will also be allocated to that member and transferred under the same contract. (c) Initial Allocation for Core Activities. Alameda County and City of San Leandro 5