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<br /> HH-AH-2018-05-Spurling Place <br /> <br /> <br />Homeless Housing Grant Agreement <br />Spurling Place Project 11/2018 Page 1 of 8 <br /> <br /> <br />HOMELESS NESS /AFFORDABLE HOUSING PROGRAM <br />GRANT AGREEMENT <br /> <br />This Homelessness Housing Program Grant Agreement ("Agreement") is entered <br />into between KITTITAS COUNTY, a political subdivision of the State of Washington (the <br />"County"), and HOPESOURCE, a Washington non-profit corporation ("Recipient"). <br /> <br />ARTICLE I — PURPOSE AND TERM <br /> <br />Section 1.1 Purpose: The purpose of this Agreement is to distribute affordable housing <br />surcharge funds awarded pursuant to the applicable provisions of RCW 36.22.178 and <br />homeless housing surcharge funds awarded pursuant to the applicable provisions of RCW <br />36.22.179-1791. <br /> <br />Section 1.2 Term: This Agreement shall take effect _____________, 2018 and <br />terminate on December 31, 2019 . <br /> <br />ARTICLE II — GRANT AMOUNT, USE AND BUDGET <br /> <br />Section 2.1 Grant Amount: The Recipient is awarded a total of up to Five Hundred <br />Thousand dollars ($500,000.00) (the "Grant Award") to be administered as follows as <br />Grant Award HA-2018-05. <br /> <br />Section 2.2 Use of Grant. The Recipient shall use the Grant Award solely for the <br />purposes and in the manner described in Exhibit A – Scope of Work. The funds are to be <br />used for the development of ____ units of affordable housing serving households at or <br />below _____ of the area median income, to be known as “Spurling Place”, located on <br />parcel # 771533, approximately 1200 -1400 N. Rainer St., Ellensburg WA 98926 (address <br />pending) (the “Project”). <br /> <br />The County acknowledges that a portion financing for the Project will be provided by low <br />income housing tax credit investors. Consequently, the Project is owned by Spurling <br />Court Associates LLLP, a Washington limited liability limited p artnership (the <br />“Partnership”), the general partner of which is Spurling Court Associates GP LLC, and a <br />Washington limited liability company, the sole member of which is the Recipient. One or <br />more low income tax credit investors will be admitted to the Pa rtnership as limited <br />partners. <br /> <br />Upon its receipt of the Grant Funds, the Recipient will provide the funds to the <br />Partnership, to be used solely for the purposes set forth in Exhibit A. <br /> <br />.