A home program subrecipient agreement is an essential document that outlines the terms and conditions that govern the partnership between a home program grantee and a subrecipient. This agreement is vital in ensuring that all parties involved understand their rights and responsibilities in delivering the home program`s services effectively.
The home program provides federal funding to state and local governments that, in turn, distribute funds to subrecipients who assist in building, purchasing, and rehabilitating affordable housing for low-income families. Therefore, subrecipient agreements play a significant role in ensuring that these programs are on track in achieving their mission of providing affordable housing.
The following are some of the key features of a home program subrecipient agreement:
Scope of Work: The agreement outlines the specific services that the subrecipient will deliver to the grantee. This includes details such as the type of affordable housing to be constructed, rehabilitation work, or the number of housing units to be serviced.
Funding Details: The agreement should state the specific amount of funding the subrecipient will receive and the expected timeframe in which the funds will be disbursed. It should also include information on how the subrecipient will account for and manage the funds to ensure compliance with federal regulations.
Performance Measures: The subrecipient agreement should outline a set of performance measures to ensure that the subrecipient meets the grantee`s expectations. These measures may include specific timelines for project completion, occupancy rates, or maintenance standards.
Compliance with Federal Regulations: As a federal program, the home program is subject to various regulations and guidelines. The agreement should outline the specific regulations that the subrecipient must comply with, such as the Davis-Bacon Act, Section 3 requirements, and fair housing regulations.
Termination Clause: Finally, the agreement should include a termination clause that specifies the conditions under which the agreement may be terminated. This clause should also state the process for resolving any disputes that may arise during the partnership.
In conclusion, a home program subrecipient agreement is an essential document that governs the partnership between a grantee and its subrecipient. It outlines the expectations, responsibilities, and regulations that must be followed to ensure the successful delivery of affordable housing services to low-income families. Home program subrecipient agreements are vital in ensuring that the program`s mission is achieved and that the funds are used efficiently and effectively.