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RESOLUTION 18-001 HOME INVESTMENT DEVELOPER AGREEMENT WHEREAS, Resolution 13-027 gave the Housing Authority of Maricopa County (HAMC) the authority to take action necessary to facilitate a Rental Assistance Demonstration (“RAD”) conversion of its entire public housing portfolio and Resolution 16-010 certified the Board of Commissioners continued support in converting HAMC’s entire portfolio of properties to offer long-term, cost effective solutions to preserve and enhance Maricopa County’s public housing inventory; and WHEREAS, Maricopa County Human Services Department (County) is a recipient of HOME Investment Partnerships Program (HOME) funds from the U.S. Department of Housing and Urban Development (HUD) as a lead agency for the Maricopa HOME Consortium; and WHEREAS, HAMC applied to the County for a not-to-exceed loan of $450,000 of HOME funds for the rehabilitation of a forty-eight unit rental project in its housing portfolio known as Father Fidelis Kuban located at 9226 S. Calle Tomi, Guadalupe, Arizona; and WHEREAS, the County wishes to engage HAMC to assist in providing affordable housing and related services to very low-income and low-income persons located within the Urban County communities in the County of Maricopa, Arizona, and provide the loan. NOW THEREFORE: BE IT RESOLVED, the Board of Commissioners hereby adopts Resolution 18-001 and approves entering into the financial Developer Agreement between Maricopa County Human Services Department and the Housing Authority of Maricopa County in the not-to-exceed amount of $450,000.00 for the purpose of funding rehabilitation of Father Fidelis Kuban in accordance with the terms and conditions of the financial Developer Agreement. The start date of the Agreement is December 13, 2017 and completion by December 1, 2019. BE IT FURTHER RESOLVED, the Executive Director of the Housing Authority of Maricopa County is authorized to sign and submit such documents as are necessary to effectuate and administer the financial Agreement such as Declaration of Covenants, Deed of Trust, Promissory Note, Subordination Agreement that may be processed during the term of this Agreement. Dated this ___________________ day of _______________________________________, 2018 ATTEST: Housing Authority of Maricopa County ____________________________________ _______________________________ Gloria Munoz, Clerk of the Board Chairman Approved As To Form ____________________________________ Attorney for Housing Authority