Written Agreements

Information by State  Print version   HOME Check-up   Monitoring Plan   Program wide Performance   Monitoring Program Activities Related Information Learn about the minimum required information for written agreements. Program-wide Performance   Performance Deadlines   CHDO Set-Aside   Program Targeting and Income Verification   Property Standards   HOME Investment Per Unit   Administrative Requirements

Written Agreements

A written agreement must be executed between the PJ and the recipient of HOME funds before any HOME funds are committed or disbursed. It should be a concise statement of the relationship between the PJ and the funding recipient, and state the conditions under which the HOME funds are being provided. A properly written and executed agreement is an extremely valuable management tool for verifying compliance and monitoring performance. It also enables a PJ to protect its HOME investment.

HOME monitoring staff will need to verify that all entities receiving HOME funds from the PJ - either subrecipients, for-profit and non-profit developers, contractors, homeowners or rental property owners-had adequate written agreements in place before any HOME funds were disbursed to them. The monitor must also verify that written agreements will remain in effect for the relevant affordability periods.

At a minimum, written agreements must address the following required points, as well as any other terms specific to the activity being carried out.

	Use of funds
	Reversion of assets/program income requirements
	Uniform administrative requirements
	Other program requirements
	Affirmative marketing
	Requests for disbursements of funds
	Records and reports
	Enforcement of the agreement
	Project requirements
	Conditions for religious organizations
	CHDO provisions