AgdaPkt 2003-03-24 - Laserfiche WebLink

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4,913 Exhibit A Agreement with MP Redwood Court Associates Redwood Court Apartments PROGRAM SERVICES A. ACTIVITIES Assignment and Transfer of Agreement Subject to the approval of the terms and conditions of the assignment by the Agency Board, this Agreement may be assigned by Contractor on behalf of very low- income households (hereinafter called "Beneficiaries ") provided that very low income "Beneficiaries" assume all rights and obligations of the Contractor hereunder. 2. Rehabilitation With funds provided under this Agreement, Contractor shall complete rehabilitation work described below in the Budget and Contract Objectives for affordable housing units located at 622 Chestnut & 635 Spruce Street (the "Property"). FISCAL YEAR 2002/2003 BUDGET Contractor shall use the funds provided hereunder for the advancement of programs, which provide housing and human services assistance to very low and lower income residents of the City of Redwood City ( "City "). Contractor shall coordinate its activities with similar programs conducted by the City or with other organizations which provide housing and supportive services to Redwood City residents, and which are consistent with the Consolidated Plan Objectives to be met during 2002 -2003. Contractor shall collaborate with similar programs in order to maximize these programs and services, and the City's financial resources which are available to lower and very low income residents. Budget Line Items AGENCY Budget Roofing $42,706.00 Termite Eradication $21,460.00 Windows and Sliding Glass Doors $114,025.00 Concrete repairs to walkways $7,943.00 Playground $26,036.00 Fencing $40,740.00 Exterior Siding $226,000.00 Exterior paint $21,090.00 Total Rehabilitation Costs 1 $500,000.00 I Any proposed change of 10% or more within any line item must be approved in advance by the Agency Director in writing. 3/312003