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<br />Agreement 2017-2018 CDBG-SR <br />Page 2 of 12 <br />B. Subrecipient Responsibilities <br /> <br />The Subrecipient will complete in a satisfactory and proper manner as determined by the Local <br />Government the attached tasks (Attachment A) to accomplish the objectives of the Project. The <br />Subrecipient will periodically meet with the Local Government to review the status of these tasks. <br /> <br />2. TIME OF PERFORMANCE <br /> <br />The effective date of this Agreement will be July 1, 2017 and complete execution of this <br />agreement will be June 30, 2018. <br /> <br />3. BUDGET <br /> <br />The Local Government will pass through to the Subrecipient no more than $81,003 in CDBG <br />funds for eligible incurred costs and expenses for the Project according to the following budget. <br /> <br /> <br /> <br />The Indirect Cost Rate: ___% Federally Approved Indirect Rate, or 10% de minimis rate, or fill <br />out “N/A” declining to charge indirect <br /> <br />The Local Government may require a more detailed budget breakdown, and the Subrecipient will <br />provide such supplementary budget information in a timely fashion in the form and content <br />prescribed by the Local Government. Any amendments to this Agreement’s Budget must first be <br />determined by the Local Government as consistent with its CDBG contract with COMMERCE and <br />then approved in writing by the Local Government and the Subrecipient. <br /> <br />Indirect Cost Rate if the Subrecipient chooses to charge Indirect under this grant, the Subrecipient <br />shall provide their indirect cost rate that has been negotiated between their entity and the Federal <br />Government. If no such rate exists, a de minimis indirect cost rate of 10% of modified total direct <br />costs (MTDC) will be used. <br />“Modified Total Direct Costs (MTDC)” shall mean all direct salaries and wages, applicable fringe <br />benefits, materials and supplies, services, travel, and up to the first $25,000 of each subaward <br />(regardless of the period of performance of the subawards under the award). MTDC excludes <br />equipment, capital expenditures, and rental costs. <br />Any amendments to this Agreement’s Budget must first be determined by the Local Government <br />as consistent with its CDBG contract with Commerce and then approved in writing by the Local <br />Government and the Subrecipient. <br />