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2020-06-17 EDA Packet
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2020-06-17 EDA Packet
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V. IMPROVEMENT REVIEW PROCESS <br />Prior to being given loan or grant approval, the applicant shall receive a positive <br />recommendation from the CVEDA. The EDA shall review proposed plans and the existing <br />exterior condition of the property being improved. The EDA shall base its recommendation <br />objectives and city code, including, where <br />applicable, design guidelines. The applicant may appeal any recommendation of the EDA to the <br />City Council. In the event of limited funds, priority will be given to projects which score the <br />ication scoring worksheet. <br /> <br />VI. CONTRACTING AND CONSTRUCTION <br />The applicant shall prepare or have prepared a detailed Scope of Work, which will also be the <br />Work will be submitted to the CVEDA and the <br />participating financial institution (for loan projects). <br /> <br />The Scope of Work shall include: <br /> <br /> A detailed description of the work to be undertaken; <br /> Estimates of the quantity and materials to be used in the project; <br /> Qualified licensed contractor(s) <br /> <br />The cost of having the Scope of Work prepared shall be reimbursable to the applicant from the <br />loan or grant proceeds. No RLGP loan or grant will be approved until an adequate Scope of <br />Work/Bidding Document is submitted and approved by designated EDA staff. The applicant <br />must receive and submit at least two itemized competitive bids for all work to be completed and <br />materials to be purchased with the loan or grant funds. The bids will be reviewed and filed by <br />the city (grant program) or financial institution (loan program) to establish that they are <br />competitive and address the work identified in the Scope of Work. The city or financial <br />institution may waive the requirement for two competitive bids if it is impractical to obtain a <br />second bid. <br /> <br />The EDA, through the City Building Inspector, shall monitor the quality and progress of all work <br />funded through the Program. Request(s) for payment (up to three partial payments and one final <br />payment) by the applicant for completed work and supplied materials shall be in writing to the <br />financial institution (or city, for grant-only projects). Partial payments shall not exceed 90 <br />percent of the total project amount. The final payment shall be held until a certificate of <br />completion is obtained from the City and submitted to the financial institution. <br /> <br />Upon submission and approval of a written request for the release of loan funds, designated EDA <br />staff will, in writing, authorize the financial institution to release the requested funds. <br /> <br />All work must be inspected by the City Building Inspector to ensure conformance with code and <br />must be verified for proper completion by City staff to ensure compliance with specifications <br />prior to final payment. The final inspection cannot be scheduled until all permits taken out have <br />been signed off by field inspectors. Upon satisfactory completion, a certificate of completion <br />will be granted. <br /> <br />4 <br /> <br />
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