Reso 2006-880 - Laserfiche WebLink

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General Obligation Bond funding for a given Project shall be retained by the County for all projects in excess of $100,000, unless otherwise recommended in writing by staff and approved by the Board. Upon completion of a Projcct, a signed project completion certificatc (Exhibit I) must be submitted with the final reimbursement request forms in order for thc remaining retainage to be released. 13) The County Manager may require that reimbursement requests for any Funding Allocations rcquiring a cash match must be accompanied by documcntation of thc cxpenditure of committed match funds (i.e., copies of invoices, canceled checks, etc.). 14) Each Rccipicnt will ensure that all contractors and consultants perform in accordance with the terms, conditions, drawings and specifications of their contracts or purchasc orders and that all Federal, State and local contracting rules apply. 15) Each Recipient shall maintain an accounting system, which meets generally accepted accounting principles, and shall maintain all required financial records to properly account for all Building Better Communitics General Obligation Bond funds and any supplcmcntal funds used for the Projcct. The Recipient shall at all times maintain a separate accounting of all Building Bcttcr Communities General Obligation Bond funds. 16) Each Recipient shall bc responsiblc for reporting, on a continuous, on-going basis, any contractual rclationship established to perform work on the project, start dates, progress paymcnts, completion dates, etc. in the system provided by the County. 17) The Recipient shall be responsible for complcting the Project. If the total cost of the Project cxceeds thc valuc of the Funding Allocation, then the Recipient must providc any supplcmental funds requircd. In the cvcnt that supplemental funds are necessary for completion of a Projcct, as of the point in time that it is known that supplcmcntal funds arc needed, the Recipient must demonstrate that such supplemental funds have been committed to the Project prior to and as a condition of disbursement or further disbursement of Funding Allocations. The requirement for a Rccipient to provide supplcmental funds may be modified, in part or whole, by the Board, to the extcnt that it approves in writing any reduction or change to the Project scope of work in accordance with the Ordinance. Approval of any rcduction or changc in scope of work is at the sole discretion of the Board. D) Acquisition Projects. Guidelines and requirements for administering Acquisition Project Funding Allocations arc as follows: Appraisal Required. Prior to acqUIsItIon of a Project site, a Recipient must obtain an appraisal or appraisals supporting thc fair market value of the land to bc acquired. Pursuant to State law, if the propcrty is $500,000 or less in appraiscd value, one appraisal is required. If the property exceeds $500,000 in appraised value, two appraisals are required. 2 Amount Authorized for Payment. The amount of Funding Allocation authorizcd for payment for land acquisition shall in no casc exceed the Funding Allocation available for the Project. In the event that the negotiated acquisition price exceeds by ten percent or greater the appraised value of the land, the disbursement of Funding Allocation shall be conditioned upon a writtcn justification for the purchase price and other conditions attendant to thc proposed purchase, which justification is declarcd satisfactory by the Board in writing. Building Better Communities Administrative Rules 140f22