Reso 1997-021 to 025 - Laserfiche WebLink

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EXHIBIT B CONDITIONS OF PAYMENT BETWEEN THE SAN LEANDRO SHELTER FOR WOMEN AND CHILDREN AND CITY OF SAN LEANDRO 1. Before any disbursements may be made, CONTRACTOR shall establish a budget, to be approved in writing by Development Services Director or her designee, specifying by line item the expenditures to be made with HOME funds. Separate budgets may be submitted for predevelopment and construction oversight expenses. 2. All funds disbursed to CONTRACTOR must be expended within fifteen (15) days of approval of the disbursement request. Upon the approval of the Development Services Director or her designee, the amounts specified under items 3 and 4 of this exhibit may be modified, so long as the total remains within the maximum amount of the contract. 3. Upon execution of this contract and approval of the project budget, CONTRACTOR may request disbursement of up to $37,500 for administrative costs. All requests must be accompanied by invoices or other documentation of costs incurred. Payments shall be made to CONTRACTOR; invoices shall be reviewed for consistency with project budget; payments shall be based on invoices submitted for work completed, not more often than once per month. In the event that this project is cancelled, any HOME funds granted for predevelopment expenses may be forgiven at the discretion of the Development Services Director or her designee. 4. Funds shall be disbursed according to the budget formulated under item 1 of this exhibit. The final disbursement shall be requested by CONTRACTOR no more than sixty (60) days before project completion. The final disbursement of HOME funds shall be for no less than $1,000. 5. Any change in the budget that results in lower costs shall be communicated to CITY immediately. If Development Services Director or her designee determines that the total amount of funds under this contract exceeds the amount necessary to complete the project, Development Services Director or her designee may adjust the contract accordingly.