Laserfiche WebLink
7-11T_U:,NDMENT TO MEMORANDUM OF UNDERSTANDING <br />DATED DECEMBER a THE PARIS,r, <br />RAM FOUNDATION <br />►, ► , 1 /- f ' u KA► ► x i ► ► • . ► y <br />�► ► ► ► .`► ►i,► 1 "g, �rp <br />o Imlits ► <br />and <br />" '� ► -� ► ` t ►► �, •► � �r ► ' it r1rrr r. ► ►, ► ►r ; <br />w ► r ► ► ► x WIFE ► M ► ro7,71�� � ►, <br />of affordable -income housing; and <br />' r <br />donation Resolution ► 049and <br />WHEREAS, the MOU was a non-binding document setting out ► ► roles and <br />responsibilities of the Parties to effectuate the intent of the donation from RAM Foundation; and <br />WHEREAS, the MOU provided that RAM could recoup unused portions of the donated funds on <br />or ►a anniversary or the execution of the and <br />WHEREAS,of date of execution of this Amendment,not .► cause to draw <br />pon the donated r► and <br />donated funds for the purposes of its own affordable housing initiatives: <br />THEREFORE, to that end, the Parties hereby agree to wnend the MOU (this <br />"Amen► ► o <br />2.1 ... <br />Areserves the( ►recoup portions RAM <br />a fundsI <br />has neither expended nor dedicated to a particular future HOME or HANC <br />project, such recouped ► 1+be used by RAM for other <br />► w, initiatives. In order to <br />exercise this right,+shall <br />request to the City, and the City shall determine whether unexpended and <br />undedicated funds are available to honor the request. If funds are available, <br />the City shall promptly return the requested funds to RAM. RAM has the <br />right to inquire as to the balance of any donated funds at any time, and the <br />City will respond ► "io ► 4 any such request. <br />