Laserfiche WebLink
<br />· Prior to the Agency funding the Development Grant and the Fee Subsidy the Developer <br />is to provide sufficient evidence to the Agency that the Developer has obtained, among <br />other things: all approvals required for the project. a firm construction contract, and <br />construction and permanent funding in an amount sufficient to fund the project's <br />development costs. <br /> <br />C. Developer Responsibilities <br /> <br />The Developer is responsible for developing the Projects in accordance with the terms of the <br />Owner Participation Agreement (OPA), including: <br /> <br />· Developer will develop the project as specified in the Scope of Development within the <br />times specified in the Schedule of Performance; both are attachments to the OPA. <br /> <br />· Developer covenants to pay prevailing wages pursuant to Agency resolution and state <br />and federal law and to require each of its contractors and subcontractors to pay <br />prevailing wages in all work undertaken in connection with the project. <br /> <br />· Upon completion of the project, Developer covenants that the project will be operated as <br />a 15-unit affordable supportive housing complex, seven units of which will be deed <br />restricted affordable to persons or households of Very Low income, and maintained in <br />good condition. The Developer will submit a proposed Property Manager for the <br />Agency's approval. The Developer shall market the units in accordance with the <br />Marketing Plan to be developed jointly by the Developer and Agency staff. <br /> <br />6.2A <br />Page 14 <br /> <br />Keyser Marston Associates. Inc. <br />C:\Documents and Settings\djones-thomas\Local Settings\Temporary Intemet Files\OlK133\005-001.doc <br /> <br />1213/2008 <br />Page 4 <br />