COM 0560.001 2022-2024 - Laserfiche WebLink

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(c) Retain all records pertinent the issuance of grant funds and compliance with grant requirements for at least five (5) years after the end of the affordability period. (d) Allow the County, upon request, to inspect, examine, and audit its financial records. (9) Insurance Requirements. (a) The grantee shall maintain throughout the term of agreement, insurance to cover the operations that may be required under the laws, ordinances, regulations, or policy of any governmental authority. (b) The grantee will provide current certificates of insurance and/or insurance policies as requested by the County. SUBCHAPTER 4 OTHER PROVISIONS §44 Non-compliance penalties. (1) If the grantee is not in compliance with the requirements included in the grant agreement or is found to have violated the terms of the grant agreement, awarded grant funds may need to be returned to the County. Grantee may be further penalized as outlined within the terms of the grant agreement §4-2 Recovery of funds. (1) Abandonment. Should the grantee cease to use the property purchased or constructed, rehabilitated and/or converted with program funds for the purposes described in the grant agreement, the grantee shall repay the County the total amount of program funds expended for the project. §4-3 Resale Restrictions. (1) The grantee shall not sell or otherwise transfer any real property purchased or constructed with program funds, without prior written consent from the administrator. (2) The resale and transfer of affordable housing units is restricted during the affordability period that is in effect. (a) This restriction gives the County the first option to purchase the property in the event of a sale or transfer during the affordability period. The owner that wishes to resell or transfer the owner -occupied unit shall inform OHCD of this intention. g�F. Administrative Rules for the Affordable Housing Production Program