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2024-011 - Approving the amendment of the December 15, 2021 MOU with the RAM Foundation to provide for the recoupment of undedicated funds for the purposes of RAM's own affordable housing initiatives
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2024-011 - Approving the amendment of the December 15, 2021 MOU with the RAM Foundation to provide for the recoupment of undedicated funds for the purposes of RAM's own affordable housing initiatives
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c) The donated funds will be used towards the City's match for funds received <br />from the State under the HOME programs according to the State rules, <br />regulations, and guidelines for said programs or as otherwise needed upon the <br />agreement of the parties. <br />d) RAM will donate an additional $200,000.00, to be administered by the United <br />Way of Lamar County, and which may be the subject of a separate agreement <br />between RAM and the United Way, to go towards paying past due taxes, title <br />insurance, and attorneys' fees for homeowners receiving assistance under the <br />program with the City who need assistance with said expenses. <br />2.2 City <br />a) City will be the recipient of the combined $500,000.00 RA /Cecil Funding for <br />use in the HOME programs. Use in the HANC program is dependent on the <br />State of Texas funding and setting up the administrative foundation for the <br />program to go forward. Should the HANC program move forward on the State <br />level, City will designate the sum of $100,000.00 of the Cecil funds to be used <br />in HANC. <br />b) City will use a third -party administrator to administer the City and RAM/Cecil <br />funding and the participation in the HOME programs. <br />c) City will continue its annual funding for the HOME programs and will utilize <br />the City's funding before accessing the RAM or Cecil funding. <br />d) City will continue to follow the rules, regulations, and guidelines of the HOME <br />programs in administering both the funding and the participation in said <br />programs. <br />e) City will set up a new account for the RAM/Cecil funds for accounting <br />purposes. Funds to be used in HOME and HANC will be drawn directly from <br />said account. <br />f) City will not be involved with the funds provided to the United Way for <br />administration except as may be needed to match qualifying homeowners with <br />United Way for purposes of the United Way's disbursement of the funds. <br />3_ This MOU does not create any legally binding obligations on any Party. <br />4. This MOU shall be governed by the applicable statutes, laws, and regulation of the United <br />States and the State of Texas. <br />
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