LETTER OF AGREEMENT
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LETTER OF AGREEMENT
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On thl.s day of July, 1992, Tampa Bay Communl.. y Deve opmen
Corporation (TBCDC) and the City of Clearwater (CITY) make and enter into
this agreement, as follows:
WHEREAS: TBCDC and the CITY entered into an agreement as of October 1,
1991 to provide Community Development Block Grant funds for homeownership
assistance, to low and moderate income families to purchase homes in
Clearwater; and
WHEREAS: the term of that agreement was to begin on October 1, 1991 and
to terminate on September 30, 1992; and
WHEREAS: that agreement provided for $20,000 for second mortgage
assistance, down payment assistance, and administrative cost reimbursement;
and
WHEREAS: funds granted under that agreement were fully committed by
April 30, 1992; and
WHEREAS: on July 2, 1992 the Clearwater City Commission agreed to
provide $15,000 from Community Development Block Grant funds to supplement
the TBCDC down payment assistance program during the current fiscal year;
THEREFORE, the parties agree as follows:
1. The agreement effective October 1, 1991 is hereby amended to
increase funding for the down payment assistance program and
related administrativ~ funding by $15,000 to a maximum of $35,000;
2. Payment shall be made upon submittal of a properly documented
request, in amounts and manner authorized in the agreement dated
October 1, 1991;
3. This agreement shall terminate on september 30, 1992;
4. TBCDC is required to have an audit done in compliance with Federal
Circular A-110, Office of Management and Budget, and to submit this
audit to the City within 180 days of the close of their fiscal
year. The fiscal year to be covered by this audit is 1991-1992.
5. All other provisions of the agreement dated October 1, 1991 remain
in effect.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed.
TAMPA BAY COMMUNITY DEVELOPMENT CORP.
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M~chae
City
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CITY OF
By:
Approved as to form and
correctness
Attest
-
~e~Goudeau
... city. Clerk
Date
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Rita Garvey
Mayor-Commissioner
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CITY OF CLEARWATER
Interdepartmental Correspondence
TO:
Cyndie Goudeau, City Clerk
Ginny M. Larcom, Community Development Department ~
Letter of Agreement, TBCDC/City
FROM:
SUBJECT:
DATE:
August 7, 1992
Enclosed is the original Letter of Agreement executed by Tampa Bay Community Development
Corporation and City of Clearwater.
We trust this is satisfactory.
gml/ enclosure
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~ AUG 1 0 1992 ~
CITY CLERK DEPT.