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File #: 18-0655 CRA    Version: 1 Name:
Type: CRA Grant Status: Agenda Ready
File created: 9/18/2020 In control: Community Redevelopment Agency
On agenda: 9/29/2020 Final action:
Title: FISCAL YEAR 2020-2021 CRA A-GUIDE FUNDING AGREEMENT - DELRAY BEACH COMMUNITY LAND TRUST, INC.
Attachments: 1. Agenda Cover Report, 2. Exhibit A - A-Guide Funding Agreement - DBCLT 20-21
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Grant Manager
THROUGH: Renée A. Jadusingh, Esq., CRA Executive Director
DATE: September 29, 2020

Title
FISCAL YEAR 2020-2021 CRA A-GUIDE FUNDING AGREEMENT - DELRAY BEACH COMMUNITY LAND TRUST, INC.

Body
Recommended Action:
Recommendation
Approve the A-GUIDE Funding Agreement with the Delray Beach Community Land Trust, Inc. in the amount of $229,615 for Fiscal Year 2020-2021.

Body
Background:
Delray Beach Community Land Trust, Inc. (CLT) applied for A-GUIDE Funding for Affordable Housing in the amount of $229,615 for fiscal year 2020-2021 for the Affordable Housing Program. This represents 25% of CLT’s proposed budget of $902,500.

At the August 25, 2020 CRA Regular Board meeting, the Board considered the funding request from the CLT and supported the funding request in the amount of $229,615.

Attached is the Funding Agreement outlining CLT’s reporting requirements and other responsibilities with regard to the funding provided. CLT will submit quarterly reports documenting the expenditure of funds and the progress towards the outcomes projected in the Goals and Outcomes Report and Budget for FY 2020-2021. Funds will be disbursed quarterly based on submittal of the associated quarterly reports.

Based on the Board’s feedback at the September 14, 2020 Workshop, the following language was added to satisfy the board’s requirements.

In the event the DBCLT does not expend funds in accordance with its approved A-GUIDE funding application, attached as Exhibit “B”, the CRA shall provide written notice to the DBCLT of such deficiency(ies), and the DBCLT shall have fourteen (14) days from receipt of the notice to cure the deficiency(ies) to the satisfaction of the CRA. Should the DBCLT fail to cure such deficiency(ies) to the satisfaction of the CRA, the CRA shall be entitled to recoup the portion of the Funding Amount allocated and/or already disbursed to the DBCLT, under the terms of this Agreeme...

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