Reso 2020-086 PLHA Grant and standard Agreement

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by the Department and in accordance with all Program requirements, Guidelines, other rules and laws, as well as in a manner consistent and in compliance with the Standard Agreement and other contracts between the Applicant and the Department. 4. Applicant certifies that it will subgrant some or all of its PLHA funds to another entity or entities. Pursuant to Guidelines Section 302(c)(3), "entity" means a housing developer or program operator, but does not mean an administering Local government to whom a Local government may delegate its PLHA allocation; 5. Applicant certifies that its selection process of these subgrantees will be accessible to the public and shall avoid any conflicts of interest; 6. Pursuant to Applicant's certification in this resolution, the PLHA funds will be expended only for eligible Activities and consistent with all program requirements; 7. Applicant certifies that, if funds are used for the acquisition, construction or rehabilitation of for -sale housing projects or units within for -sale housing projects, the grantee shall record a deed restriction against the property that will ensure compliance with one of the requirements stated in Guidelines Section 302(c)(6)(A),(B) and (C); 8. Applicant certifies that, if funds are used for the development of an Affordable Rental Housing Development, the Local government shall make PLHA assistance in the form of a low -interest, deferred loan to the Sponsor of the Project, and such loan shall be evidenced through a Promissory Note secured by a Deed of Trust and a Regulatory Agreement shall restrict occupancy and rents in accordance with a Local government -approved underwriting of the Project for a term of at least 55 years. 9. Applicant shall be subject to the terms and conditions as specified in the Standard Agreement, the PLHA Program Guidelines and any other applicable SB 2 Guidelines published by the Department. 10. Jeff Kay, Applicant's City Manager, is authorized to execute the PLHA Program Application, the PLHA Standard Agreement and any subsequent amendments or modifications thereto, as well as any other documents which are related to the Program or the PLHA grant awarded to Applicant, as the Department may deem appropriate. Introduced by Councilmember Ballew and passed and adopted this 20th day of July 2020, by the following vote: Members of the Council: AYES: Councilmembers Aguilar, Ballew, Cox, Hernandez, Lee, Lopez, Mayor Cutter (7) NOES: None (0) ABSENT: None (0) ATTEST: d*Z- Lelfiiaia I. Miguel, y Clerk RESOLUTION NO.2020-086 2