Press Alt + R to read the document text or Alt + P to download or print.
This document contains no pages.
HomeMy WebLinkAboutC25-183 MOA_Northwest Loan Fund1
MEMORANDUM OF AGREEMENT BETWEEN
EAGLE COUNTY BOARD OF COUNTY COMMISSIONERS,
AND
NORTHWEST LOAN FUND
THIS AGREEMENT made and entered into this 11th day of March, 2025, by and between the BOARD OF
COUNTY COMMISSIONERS of Eagle County, and the Northwest Loan Fund, concerning the operation and
administration of the Region 12 CDBG Economic Development Program and the receipt of the U.S.
Department of Housing and Urban Development Community Development Block Grant (HUD-CDBG)
funds from the State of Colorado, for implementation of this program, who do hereby state and agrees
as follows:
WITNESSETH:
WHEREAS, Eagle County, (hereinafter referred to as the County) is the Sub-Recipient (grantee)
for the HUD CDBG program known as the CDBG Economic Development Program (CDBG ED Program)
with the State of Colorado through the Department of Local Affairs (DOLA) under contract for CDBG ED
project No. CDBG 20-630, bearing an effective date of 3/18/2020; in the amount of $Initial Award
$580,000.00; amended to $5,159,898.00 and
WHEREAS, Northwest Loan Fund, the sub-grantee (hereinafter referred to as Business Loan fund
(BLF)) is a formally recognized organization under the laws of the State of Colorado and is currently
carrying on economic development functions within the following counties; Eagle, Garfield, Grand,
Jackson, Moffat, Pitkin, Rio Blanco, Routt and Summit.
WHEREAS, it is appropriate and desirable to have the BLF administer and implement the above
mentioned CDBG ED Program; and
WHEREAS, it is desirable to descript in greater detail and further specify the relationships and
operational procedures and obligations between the County and the BLF, concerning the operation of
the CDBG ED Program.
NOW, THEREFORE BE IT RESOLVED, in accordance with the above recitals, the County and the
BLF do hereby adopt this Memorandum of Agreement to act as a written policy in defining the
relationship for the administration and implementation of the CDBG ED Program. By fulfilling the
obligations imposed by the receipt of HUD-CDBG funds, as evidenced by the signatures of the Board of
County Commissioner’s Chairperson and the Chairperson of the BLF Board of Directors at the end of this
document.
1. Grant Compliance – The BLF shall assume compliance with all the conditions of the CDBG ED
Contract for project 20-630, as found in Exhibit A, including the State of Project, which is
attached as part of said contract. The BLF shall also comply with all the laws, rules and
regulation governing CDBG ED and federal grants in general that may be applicable under this
state contract. The BLF agrees to subject their accounting records to a financial audit performed
by an independent certified public accountant in accordance with the requirements of the Single
Audit Act and applicable regulations. The BLF shall transmit the results of their audit to the
County within 60 days of receipt, along with any auditor recommendations or management
comments. The County reserves the right to suspend sub-grantee payments if audit reports are
not submitted in a timely manner. The County also reserves the right to suspend sub-grantee
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
2
payments in the event the audit report discloses serious financial or internal control issues, until
those issues have been addressed to the satisfaction of both parties.
2. BLF Administration and Implementation – BLF does hereby agree to become the sub-grantee for
the mentioned Grant. As sub-grantee, the BLF assumes all responsibility as allowed under the
laws, rules and regulations governing HUD-CDBG programs or federal grants in general. The BLF
shall administer the program in accordance with the CDBG ED federal requirements and the BLF
loan policies and procedures. The BLF as sub-grantee agrees to provide all the necessary services
to meet the requirements of the state grant contract including the provision of counseling and
other assistance to for-profit businesses. BLF Loan Policy is Exhibit B.
3. Support Service and Contributions – The County hereby agrees to provide the following services
to the BLF for this program:
a. Provide for the accounting of all grant funds and conduct an audit of this grant in
conjunction with other County funds in accordance with single audit concepts and other
grant requirements. In the event that the County incurs extra audit or legal costs
associated with the review and/or audit of the funds received under this grant, The
County reserves the right to request reimbursement from the BLF for such incremental
costs.
4. Miscellaneous (Program) Income – The BLF shall retain all forms of miscellaneous or program
income received directly from the CDBG assisted activities. In the event of the dissolution of the
BLF, the procedures outlined in the Northwest Loan Fund Bylaws Article XI attached as Exhibit C.
5. Conflicts of Interest – The BLF shall insure that no member of its Board or the governing body of
the County, or any other officer, employee or agent of the County who exercises any functions
or responsibilities in connection with the planning and carrying out of the project shall have any
personal financial interest, direct or indirect, in this contract, except that the BLF employees
assigned to the project shall receive compensation for their performance.
6. Miscellaneous –
a. The BLF shall develop all necessary security agreements to enforce their loan security as
necessary, including repossession and foreclosing on real or personal property.
b. The BLF shall submit request for payment of sub-grantee funds and copy Eagle County
on the Request for Reimbursement. Upon receipt of funds from DOLA, Eagle County will
deposit to the BLF Operating Account.
c. The BLF shall have sole responsibility for monitoring the performance of its personnel
hired with funds from this CDBG ED Program.
d. The BLF shall establish its own personnel, organizational and program policies provided
they are in compliance with the requirements of the CDBG ED Program and all
applicable federal, state and local laws.
7. Termination Clause – This agreement may be terminated with or without cause by either party
upon thirty (30) days written notice.
8. Environmental Review – The BLF agrees to prepare the preliminary environmental review for
the CDBG ED program as a whole as well as individual environmental reviews for specific
business loans. The BLF shall also prepare the necessary public notices known as the Finding of
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
3
No Significant Impact (FONSI), Notice of Intent to Request Release of Funds (NOI/RROF) and the
actual Request for Release of Funds (RROF). These and other communications regarding the
environmental review of the projects(s) shall be included in the Environmental Review Record.
The signatory as the Certifying Official for environmental reviews shall be a County
Commissioner.
9. Reports and Signatures – The BLF shall prepare the quarterly progress reports within 30 days
following the end of the quarter under this grant and present copies to the County. The Director
shall be authorized to sign the statement of necessity, Request for Advance or Reimbursement,
and the Financial Status Report.
10. Program Records and Access – The BLF shall maintain all public records for the CDBG ED
Program at the corporate offices and provide public access to these records during normal
business hours. Personal financial records and other confidential information concerning
individual borrowers under the program shall be held confidential information concerning
individual borrowers under the program shall be held confidential and with limited access as
identified in the loan policy statement. Actual loan documents, including the amount and terms
of the loan and other contracts with the individual borrower shall be made available upon
request. The County shall have unlimited access to all records pertaining to this program.
11. Indemnification – The BLF shall indemnify, save, hold harmless, and defend the County and all
its officials and employees from any and all liability, claims, demands, actions, and attorney fees
arising out of, claimed on account of, or in any manner predicted upon loss or damage to the
property of, injuries to, or death of all persons whatsoever or which may occur or be sustained
in connection with performance or non-performance of this contract.
12. Effective Date – The Effective Date of this Agreement shall be the date of the last party to sign.
13. Entire Agreement – This agreement embodies the entire agreement about its subject matter
among the parties and supersedes all prior agreements and understandings, if any, and may be
amended or supplemented only by an instrument in writing executed by all parties to this
Agreement.
14. No Third-Party Beneficiaries – The parties to this Agreement do not intend to benefit any person
not a party to this Agreement. No person or entity, other than the parties to this Agreement,
shall have any right, legal or equitable, to enforce any provision of this Agreement.
15. Signatory Authority – Each person signing this Agreement in a representative capacity, expressly
represents the signatory has the subject party’s authority to sign and that the subject party will
be bound by the signatory’s execution of this Agreement. Each party expressly represents that
except as to the approval specifically required by this Agreement, such party does not require
any third party’s consent to enter into this Agreement.
16. Counterparts – This Agreement may be executed in counterparts, each of which shall be
deemed to be an original and all of which together shall constitute one original agreement.
17. Severability - If any term or provision of this Agreement shall be adjudicated to be invalid, illegal
or unenforceable, this Agreement shall be deeded amended to delete therefrom the term or
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
4
provision thus adjudicated to be invalid, illegal or unenforceable and the validity of the other
terms and provision of this Agreement shall not be affected thereby.
18. Notices – Except as otherwise provided in the Agreement, all notices or other communications
by the BLF or any party hereto, and Board member or officers shall be in writing; shall be
sufficiently given and shall be deemed given when received.
19. Board Adoption – Subject only to the express limitations set forth herein, this Agreement shall
be liberally construed to permit the BLF and the County to make good faith efforts to further the
economic development of the region covered by the CDBG ED Program.
(Continued on Next Page)
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
5
IN WITNESS WHERE OF, the Parties hereto have executed this Agreement the day and and year first
above written.
AGREED:
BOARD OF COUNTY COMMISSIONERS APPROVAL BUSINESS LOAN FUND APPROVAL
Eagle County, COLORADO Northwest Loan Fund
______________________________ ______________________________
Jeanne McQueeney, Chair Anita Cameron, Director
NOTE: Memorandum of Agreement must be completed and sent to DOLA representative for final
approval prior to the disbursement of Grant Funds. DOLA representative may contact you for further
information and clarification.
THE FOLLOWING TO BE COMPLETED BY DOLA REPRESENTATIVE ONLY
DOLA Representative Approval: The signature below indicates that the agreement between the County
and the BLF has been reviewed and that the agreement clearly delineates contractual responsibilities
between the County (Grantee) and the BLF (Sub-grantee).
______________________________ ______________________________
Insert Name and Title Date
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
6
EXHIBIT A – CDBG ECONOMIC DEVELOPMENT CONTRACT
CDBG 20-630
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
SUMMARY OF GRANT AWARD TERMS AND CONDITIONS
State Agency
Department of Local Affairs
Encumbrance Number
F20CDBG20630
CMS Number
154797
Grantee
Eagle County
Grant Award Amount
$580,000.00
Retainage Amount
$0.00
Project Number and Name
CDBG 20-630 – Eagle County BLF
Performance Start Date
The later of the Effective Date
or April 1, 2020
Grant Expiration Date
March 31, 2022
Project Description
The Project is to provide Community Development Block
Grant Funds for the purpose of Recapitalization of an
existing Business Loan Fund for job creation, retention or
expansion.
Program Name
Community Development Block Grant Program (CDBG)
Funding Source
FEDERAL FUNDS
Catalog of Federal Domestic Assistance (CFDA) Number
14.228
DOLA Program Manager
Jodi Adkins, Acting CDBG Business Manager
(303) 864-7745, Jodi.adkins@state.co.us
Funding Account Codes
VCUST#
14253
Address
Code CN001 WARR
THE SIGNATORIES LISTED BELOW AUTHORIZE THIS GRANT
DEPARTMENT OF LOCAL AFFAIRS
PROGRAM REVIEWER
_______________________________________________
By: Tamra Norton, Director of Financial Assistance
Date: __________________________________
STATE OF COLORADO
Jared S. Polis, Governor
DEPARTMENT OF LOCAL AFFAIRS
Rick M. Garcia, Executive Director
______________________________________________
By: Rick M. Garcia, Executive Director
Date: _________________________
In accordance with §24-30-202 C.R.S., this Grant is not valid until signed and dated below by the State Controller
or an authorized delegate (the “Effective Date”).
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
___________________________________________
By: Yingtse Cha, Controller Delegate
Department of Local Affairs
Effective Date:_____________________
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 10 Version 0717
TERMS AND CONDITIONS
1. GRANT
As of the Performance Start Date, the State Agency shown on the Summary of Grant Award Terms
and Conditions page of this Grant Award Letter (the “State”) hereby obligates and awards to
Grantee shown on the Summary of Grant Award Terms and Conditions page of this Grant Award
Letter (the “Grantee”) an award of Grant Funds in the amount shown on the Summary of Grant
Award Terms and Conditions page of this Grant Award Letter. By accepting the Grant Funds
provided under this Grant Award Letter, Grantee agrees to comply with the terms and conditions
of this Grant Award Letter and requirements and provisions of all Exhibits to this Grant Award
Letter.
2. TERM
A. Initial Grant Term and Extension
The Parties’ respective performances under this Grant Award Letter shall commence on the
Performance Start Date and shall terminate on the Grant Expiration Date unless sooner
terminated or further extended in accordance with the terms of this Grant Award Letter. Upon
request of Grantee, the State may, in its sole discretion, extend the term of this Grant Award
Letter by providing Grantee with an updated Grant Award Letter or an executed Option Letter
showing the new Grant Expiration Date.
B. Early Termination in the Public Interest
The State is entering into this Grant Award Letter to serve the public interest of the State of
Colorado as determined by its Governor, General Assembly, or Courts. If this Grant Award
Letter ceases to further the public interest of the State or if State, Federal or other funds used
for this Grant Award Letter are not appropriated, or otherwise become unavailable to fund
this Grant Award Letter, the State, in its discretion, may terminate this Grant Award Letter
in whole or in part by providing written notice to Grantee. If the State terminates this Grant
Award Letter in the public interest, the State shall pay Grantee an amount equal to the
percentage of the total reimbursement payable under this Grant Award Letter that
corresponds to the percentage of Work satisfactorily completed, as determined by the State,
less payments previously made. Additionally, the State, in its discretion, may reimburse
Grantee for a portion of actual, out-of-pocket expenses not otherwise reimbursed under this
Grant Award Letter that are incurred by Grantee and are directly attributable to the
uncompleted portion of Grantee’s obligations, provided that the sum of any and all
reimbursements shall not exceed the maximum amount payable to Grantee hereunder. This
subsection shall not apply to a termination of this Grant Award Letter by the State for breach
by Grantee.
C. Reserved.
3. AUTHORITY
Authority to enter into this Grant Award Letter exists in the law as follows:
A. Federal Authority
Authority to enter into this Grant exists in C.R.S. 24-32-106 and 29-3.5-101 and funds have
been budgeted, appropriated and otherwise made available and a sufficient unencumbered
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 3 of 10 Version 0717
balance thereof remains available for payment. Required approvals, clearance and
coordination have been accomplished from and with appropriate agencies.
B. Reserved.
4. DEFINITIONS
The following terms shall be construed and interpreted as follows:
A. Reserved.
B. Reserved.
C. “CORA” means the Colorado Open Records Act, §§24-72-200.1 et. seq., C.R.S.
D. “Exhibits” means the following exhibits attached to this Grant Award Letter:
i. Exhibit A, Applicable Laws
ii. Exhibit B, Scope of Project
iii. Exhibit C, Federal Provisions 09-25-19
iv. Exhibit G, Form of Option Letter
v. Form 2, FFATA Data Report Form
E. “Extension Term” means the period of time by which the Grant Expiration Date is extended
by the State through delivery of an updated Grant Award Letter, an amendment, or an Option
Letter.
F. Reserved.
G. Reserved.
H. “Goods” means any movable material acquired, produced, or delivered by Grantee as set
forth in this Grant Award Letter and shall include any movable material acquired, produced,
or delivered by Grantee in connection with the Services.
I. “Grant Award Letter” or “Grant” means this letter which offers Grant Funds to Grantee,
including all attached Exhibits, all documents incorporated by reference, all referenced
statutes, rules and cited authorities, and any future updates thereto.
J. “Grant Expiration Date” means the Grant Expiration Date shown on the Summary of Grant
Award Terms and Conditions page of this Grant Award Letter. Work performed after the
Grant Expiration Date is not eligible for reimbursement from Grant Funds.
K. “Grant Funds” or “Grant Award Amount” means the funds that have been appropriated,
designated, encumbered, or otherwise made available for payment by the State under this
Grant Award Letter.
L. “Incident” means any accidental or deliberate event that results in, or constitutes an imminent
threat of, the unauthorized access or disclosure of State Confidential Information or of the
unauthorized modification, disruption, or destruction of any State Records.
M. “Initial Term” means the time period between the Performance Start Date and the initial
Grant Expiration Date.
N. Reserved.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 4 of 10 Version 0717
O. “Other Funds” means all funds necessary to complete the Project, excluding Grant Funds.
Grantee is solely responsible for securing all Other Funds.
P. “Party” means the State or Grantee, and “Parties” means both the State and Grantee.
Q. “Performance Start Date” means the later of the Performance Start Date or the Execution
Date shown on the Summary of Grant Award Terms and Conditions page of this Grant Award
Letter.
R. Reserved.
S. Reserved.
T. Reserved.
U. “Project” means the overall project described in Exhibit B, which includes the Work.
V. “Project Budget” means the amounts detailed in §7 of Exhibit B.
W. Reserved.
X. Reserved.
Y. “Services” means the services performed by Grantee as set forth in this Grant Award Letter,
and shall include any services rendered by Grantee in connection with the Goods.
Z. “State Confidential Information” means any and all State Records not subject to disclosure
under CORA. State Confidential Information shall include, but is not limited to State
personnel records not subject to disclosure under CORA.
AA. “State Fiscal Rules” means the fiscal rules promulgated by the Colorado State Controller
pursuant to §24-30-202(13)(a) C.R.S.
BB. “State Fiscal Year” means a 12 month period beginning on July 1 of each calendar year and
ending on June 30 of the following calendar year. If a single calendar year follows the term,
then it means the State Fiscal Year ending in that calendar year.
CC. “State Records” means any and all State data, information, and records, regardless of
physical form, including, but not limited to, information subject to disclosure under CORA.
DD. Reserved.
EE. “Subcontractor” means third-parties, if any, engaged by Grantee to aid in performance of
the Work. “Subcontractor” also includes sub-grantees.
FF. Reserved.
GG. Reserved.
HH. Reserved.
II. “Work” means the delivery of the Goods and performance of the Services described in this
Grant Award Letter.
JJ. “Work Product” means the tangible and intangible results of the Work, whether finished or
unfinished, including drafts. Work Product includes, but is not limited to, documents, text,
software (including source code), research, reports, proposals, specifications, plans, notes,
studies, data, images, photographs, negatives, pictures, drawings, designs, models, surveys,
maps, materials, ideas, concepts, know-how, and any other results of the Work. “Work
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 5 of 10 Version 0717
Product” does not include any material that was developed prior to the Performance Start
Date that is used, without modification, in the performance of the Work.
Any other term used in this Grant Award Letter that is defined in an Exhibit shall be construed and
interpreted as defined in that Exhibit.
5. PURPOSE
The purpose of the Community Development Block Grant Program is to develop viable
communities by providing decent housing and a suitable living environment, and by expanding
economic opportunities, principally for low- and moderate-income persons. The purpose of this
Grant is described in Exhibit B.
6. SCOPE OF PROJECT
Grantee shall complete the Work as described in this Grant Award Letter and in accordance with
the provisions of Exhibit B. The State shall have no liability to compensate or reimburse Grantee
for the delivery of any goods or the performance of any services that are not specifically set forth
in this Grant Award Letter.
7. PAYMENTS TO GRANTEE
A. Maximum Amount
Payments to Grantee are limited to the unpaid, obligated balance of the Grant Funds. The
State shall not pay Grantee any amount under this Grant that exceeds the Grant Award
Amount shown on the Summary of Grant Award Terms and Conditions page of this Grant
Award Letter.
i. The State may increase or decrease the Grant Award Amount by providing Grantee
with an updated Grant Award Letter or an executed Option Letter showing the new
Grant Award Amount.
ii. Except as provided in §7(E), The State shall not be liable to pay or reimburse Grantee
for any Work performed or expense incurred before the Performance Start Date or after
the Grant Expiration Date.
iii. Financial obligations of the State payable after the current State Fiscal Year are
contingent upon funds for that purpose being appropriated, budgeted, and otherwise
made available.
B. Erroneous Payments
The State may recover, at the State’s discretion, payments made to Grantee in error for any
reason, including, but not limited to, overpayments or improper payments, and unexpended
or excess funds received by Grantee. The State may recover such payments by deduction
from subsequent payments under this Grant Award Letter, deduction from any payment due
under any other contracts, grants or agreements between the State and Grantee, or by any
other appropriate method for collecting debts owed to the State.
C. Matching Funds
Grantee shall provide the Other Funds amount shown on the Project Budget in Exhibit B (the
“Local Match Amount”). Grantee shall raise the full amount of matching funds during the
term of this Grant and shall report to the Department regarding the status of such funds as
required in Exhibit B. Grantee does not by accepting this Grant Award Letter irrevocably
pledge present cash reserves for payments in future fiscal years, and this Grant Award Letter
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 6 of 10 Version 0717
is not intended to create a multiple-fiscal year debt of Grantee. Grantee shall not pay or be
liable for any claimed interest, late charges, fees, taxes or penalties of any nature, except as
required by Grantee’s laws or policies.
D. Reimbursement of Grantee Costs
The State shall reimburse Grantee’s allowable costs, not exceeding the maximum total
amount described in this Grant Award Letter for all allowable costs described in this Grant
Award Letter and shown in the Project Budget in Exhibit B.
i. Upon request of the Grantee, the State may, without changing the maximum total
amount of Grant Funds, adjust or otherwise reallocate Grant Funds among or between
each line of the Project Budget by providing Grantee with an executed Option Letter or
formal amendment.
E. Retroactive Payments
The State shall pay Grantee for costs or expenses incurred or performance by the Grantee
prior to the Effective Date, only if (1) the Grant Funds involve federal funding and (2) federal
laws, rules and regulations applicable to the Work provide for such retroactive payments to
the Grantee. Any such retroactive payments shall comply with State Fiscal Rules and be
made in accordance with the provisions of this Grant or such Exhibit. Grantee shall initiate
any payment request by submitting invoices to the State in the form and manner set forth and
approved by the State.
F. Close-Out and De-obligation of Grant Funds
Grantee shall close out this Grant no later than 90 days after the Grant Expiration Date. To
complete close out, Grantee shall submit to the State all deliverables (including
documentation) as defined in this Grant Award Letter and Grantee’s final reimbursement
request or invoice. Any Grant Funds remaining after submission and payment of Grantee’s
final reimbursement request are subject to de-obligation by the State.
8. REPORTING – NOTIFICATION
A. Performance and Final Status
Grantee shall submit all financial, performance and other reports to the State no later than the
end of the close out period described in §7.F.
B. Violations Reporting
Grantee shall disclose, in a timely manner, in writing to the State, all violations of federal or
State criminal law involving fraud, bribery, or gratuity violations potentially affecting this
Award.
9. GRANTEE RECORDS
A. Maintenance and Inspection
Grantee shall make, keep, and maintain, all records, documents, communications, notes and
other written materials, electronic media files, and communications, pertaining in any manner
to this Grant for a period of three years following the completion of the close out of this
Grant. Grantee shall permit the State to audit, inspect, examine, excerpt, copy and transcribe
all such records during normal business hours at Grantee’s office or place of business, unless
the State determines that an audit or inspection is required without notice at a different time
to protect the interests of the State.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 7 of 10 Version 0717
B. Monitoring
The State will monitor Grantee’s performance of its obligations under this Grant Award
Letter using procedures as determined by the State. The State shall monitor Grantee’s
performance in a manner that does not unduly interfere with Grantee’s performance of the
Work.
C. Audits
Grantee shall comply with all State and federal audit requirements.
10. CONFIDENTIAL INFORMATION-STATE RECORDS
A. Confidentiality
Grantee shall hold and maintain, and cause all Subcontractors to hold and maintain, any and
all State Records that the State provides or makes available to Grantee for the sole and
exclusive benefit of the State, unless those State Records are otherwise publically available
at the time of disclosure or are subject to disclosure by Grantee under CORA. Grantee shall
not, without prior written approval of the State, use for Grantee’s own benefit, publish, copy,
or otherwise disclose to any third party, or permit the use by any third party for its benefit or
to the detriment of the State, any State Records, except as otherwise stated in this Grant
Award Letter. Grantee shall provide for the security of all State Confidential Information in
accordance with all policies promulgated by the Colorado Office of Information Security
(http://oit.state.co.us/ois) and all applicable laws, rules, policies, publications, and guidelines.
Grantee shall immediately forward any request or demand for State Records to the State’s
principal representative.
B. Other Entity Access and Nondisclosure Agreements
Grantee may provide State Records to its agents, employees, assigns and Subcontractors as
necessary to perform the Work, but shall restrict access to State Confidential Information to
those agents, employees, assigns and Subcontractors who require access to perform their
obligations under this Grant Award Letter. Grantee shall ensure all such agents, employees,
assigns, and Subcontractors sign nondisclosure agreements with provisions at least as
protective as those in this Grant, and that the nondisclosure agreements are in force at all
times the agent, employee, assign or Subcontractor has access to any State Confidential
Information. Grantee shall provide copies of those signed nondisclosure restrictions to the
State upon request.
C. Use, Security, and Retention
Grantee shall use, hold and maintain State Confidential Information in compliance with any
and all applicable laws and regulations in facilities located within the United States, and shall
maintain a secure environment that ensures confidentiality of all State Confidential
Information wherever located. Grantee shall provide the State with access, subject to
Grantee’s reasonable security requirements, for purposes of inspecting and monitoring access
and use of State Confidential Information and evaluating security control effectiveness. Upon
the expiration or termination of this Grant, Grantee shall return State Records provided to
Grantee or destroy such State Records and certify to the State that it has done so, as directed
by the State. If Grantee is prevented by law or regulation from returning or destroying State
Confidential Information, Grantee warrants it will guarantee the confidentiality of, and cease
to use, such State Confidential Information.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 8 of 10 Version 0717
D. Incident Notice and Remediation
If Grantee becomes aware of any Incident, it shall notify the State immediately and cooperate
with the State regarding recovery, remediation, and the necessity to involve law enforcement,
as determined by the State. After an Incident, Grantee shall take steps to reduce the risk of
incurring a similar type of Incident in the future as directed by the State, which may include,
but is not limited to, developing and implementing a remediation plan that is approved by the
State at no additional cost to the State.
11. CONFLICTS OF INTEREST
Grantee shall not engage in any business or activities, or maintain any relationships that conflict in
any way with the full performance of the obligations of Grantee under this Grant. Grantee
acknowledges that, with respect to this Grant, even the appearance of a conflict of interest shall be
harmful to the State’s interests and absent the State’s prior written approval, Grantee shall refrain
from any practices, activities or relationships that reasonably appear to be in conflict with the full
performance of Grantee’s obligations under this Grant. If a conflict or the appearance of a conflict
arises, or if Grantee is uncertain whether a conflict or the appearance of a conflict has arisen,
Grantee shall submit to the State a disclosure statement setting forth the relevant details for the
State’s consideration.
12. INSURANCE
Grantee shall maintain at all times during the term of this Grant such liability insurance, by
commercial policy or self-insurance, as is necessary to meet its liabilities under the Colorado
Governmental Immunity Act, §24-10-101, et seq., C.R.S. (the “GIA”). Grantee shall ensure that
any Subcontractors maintain all insurance customary for the completion of the Work done by that
Subcontractor and as required by the State or the GIA.
13. REMEDIES
In addition to any remedies available under any Exhibit to this Grant Award Letter, if Grantee fails
to comply with any term or condition of this Grant, the State may terminate some or all of this
Grant and require Grantee to repay any or all Grant Funds to the State in the State’s sole discretion.
The State may also terminate this Grant Award Letter at any time if the State has determined, in
its sole discretion, that Grantee has ceased performing the Work without intent to resume
performance, prior to the completion of the Work.
14. DISPUTE RESOLUTION
Except as herein specifically provided otherwise, disputes concerning the performance of this
Grant that cannot be resolved by the designated Party representatives shall be referred in writing
to a senior departmental management staff member designated by the State and a senior manager
or official designated by Grantee for resolution.
15. NOTICES AND REPRESENTATIVES
Each Party shall identify an individual to be the principal representative of the designating Party
and shall provide this information to the other Party. All notices required or permitted to be given
under this Grant Award Letter shall be in writing, and shall be delivered either in hard copy or by
email to the representative of the other Party. Either Party may change its principal representative
or principal representative contact information by notice submitted in accordance with this §15.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 9 of 10 Version 0717
16. RIGHTS IN WORK PRODUCT AND OTHER INFORMATION
Grantee hereby grants to the State a perpetual, irrevocable, non-exclusive, royalty free license, with
the right to sublicense, to make, use, reproduce, distribute, perform, display, create derivatives of
and otherwise exploit all intellectual property created by Grantee or any Subcontractors or
Subgrantees and paid for with Grant Funds provided by the State pursuant to this Grant.
17. GOVERNMENTAL IMMUNITY
Liability for claims for injuries to persons or property arising from the negligence of the Parties,
their departments, boards, commissions, committees, bureaus, offices, employees and officials
shall be controlled and limited by the provisions of the GIA; the Federal Tort Claims Act, 28 U.S.C.
Pt. VI, Ch. 171 and 28 U.S.C. 1346(b), and the State’s risk management statutes, §§24-30-1501,
et seq. C.R.S. No term or condition of this Grant Award Letter shall be construed or interpreted as
a waiver, express or implied, of any of the immunities, rights, benefits, or protections of any of
these provisions.
18. GENERAL PROVISIONS
A. Assignment
Grantee’s rights and obligations under this Grant are personal and may not be transferred or
assigned without the prior, written consent of the State. Any attempt at assignment or transfer
without such consent shall be void. Any assignment or transfer of Grantee’s rights and
obligations approved by the State shall be subject to the provisions of this Grant Award
Letter.
B. Captions and References
The captions and headings in this Grant Award Letter are for convenience of reference only,
and shall not be used to interpret, define, or limit its provisions. All references in this Grant
Award Letter to sections (whether spelled out or using the § symbol), subsections, exhibits
or other attachments, are references to sections, subsections, exhibits or other attachments
contained herein or incorporated as a part hereof, unless otherwise noted.
C. Entire Understanding
This Grant Award Letter represents the complete integration of all understandings between
the Parties related to the Work, and all prior representations and understandings related to the
Work, oral or written, are merged into this Grant Award Letter.
D. Modification
The State may modify the terms and conditions of this Grant by issuance of an updated Grant
Award Letter, which shall be effective if Grantee accepts Grant Funds following receipt of
the updated letter. The Parties may also agree to modification of the terms and conditions of
the Grant in either an option letter or a formal amendment to this Grant, properly executed
and approved in accordance with applicable Colorado State law and State Fiscal Rules.
E. Statutes, Regulations, Fiscal Rules, and Other Authority
Any reference in this Grant Award Letter to a statute, regulation, State Fiscal Rule, fiscal
policy or other authority shall be interpreted to refer to such authority then current, as may
have been changed or amended since the Performance Start Date. Grantee shall strictly
comply with all applicable Federal and State laws, rules, and regulations in effect or hereafter
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 10 of 10 Version 0717
established, including, without limitation, laws applicable to discrimination and unfair
employment practices.
F. Order of Precedence
In the event of a conflict or inconsistency between this Grant Award Letter and any Exhibits
or attachment, such conflict or inconsistency shall be resolved by reference to the documents
in the following order of priority:
i. Exhibit C, Federal Provisions 09-25-19
ii. Any executed Option Letter
iii. The provisions of this Grant Award Letter
iv. The provisions of any other exhibits to this Grant Award Letter
G. Severability
The invalidity or unenforceability of any provision of this Grant Award Letter shall not affect
the validity or enforceability of any other provision of this Grant Award Letter, which shall
remain in full force and effect, provided that the Parties can continue to perform their
obligations under the Grant in accordance with the intent of the Grant.
H. Survival of Certain Grant Award Letter Terms
Any provision of this Grant Award Letter that imposes an obligation on a Party after
termination or expiration of the Grant shall survive the termination or expiration of the Grant
and shall be enforceable by the other Party.
I. Third Party Beneficiaries
Except for the Parties’ respective successors and assigns described above, this Grant Award
Letter does not and is not intended to confer any rights or remedies upon any person or entity
other than the Parties. Any services or benefits which third parties receive as a result of this
Grant are incidental to the Grant, and do not create any rights for such third parties.
J. Waiver
A Party’s failure or delay in exercising any right, power, or privilege under this Grant Award
Letter, whether explicit or by lack of enforcement, shall not operate as a waiver, nor shall any
single or partial exercise of any right, power, or privilege preclude any other or further
exercise of such right, power, or privilege.
K. Reserved.
L. Digital Signatures
If any signatory signs this Grant using a digital signature in accordance with the Colorado
State Controller Contract, Grant, and Purchase Order Policies regarding the use of digital
signatures issued under the State Fiscal Rules, then any agreement or consent to use digital
signatures within the electronic system through which that signatory signed shall be
incorporated into this Grant by reference.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 1 – Exhibit A – Applicable Laws
EXHIBIT A – APPLICABLE LAWS
Federal laws and regulations incorporated into this Grant include, without limitation:
1. 2 C.F.R. 220, Cost Principles for Education Institutions
2. 2 C.F.R. 225, Cost Principles for State, Local and Indian Tribal Governments
3. 2 C.F.R. 230, Cost Principles for Non-Profit Organizations
4. 24 C.F.R. Subtitle A, Parts 0-82, et seq., as amended, Housing and Urban Development
5. 24 C.F.R. Subtitle B, Chapter I – XXV, et seq., as amended, Housing and Urban Development
6. 40 C.F.R. 1500-1508, as amended, Council on Environmental Quality Regulations Implementing NEPA
7. 41 C.F.R. Chapter 60, as amended, Executive Order 11246
8. 49 C.F.R. Part 24, as amended, Uniform Relocation Assistance and Real Property Acquisition Policies
Act of 1970
9. 2 U.S.C. Chapter 26, et seq., as amended, Disclosure of Lobbying Activities
10. 5 U.S.C. 552a, as amended, Privacy Act of 1974
11. 8 U.S.C. 1101, Immigration and Nationality Act
12. 12 U.S.C. §§1701- 1701z-15, et seq., as amended, National Housing Act
13. 15 U.S.C. Chapter 49, et seq., as amended, Fire Prevention and Control
14. 16 U.S.C. Chapters 1-83, et seq., as amended, Conservation
15. 20 U.S.C. 1681-1688, Title IX, as amended, Education Amendment of 1972
16. 29 U.S.C. Chapter 14, §§621-634, et seq., as amended, Age Discrimination in Employment
17. 29 U.S.C. Chapter 16, §§793-794, et seq., as amended, Vocational Rehabilitation and Other Rehabilitation
Services
18. 29 U.S.C. Chapter 8, §§201, 206, et seq., as amended, Labor
19. 31 U.S.C. Subtitle I – VI, et seq., as amended, Money and Finance
20. 40 U.S.C. Subtitle I, et seq., as amended, Federal Property and Administrative Services
21. 40 U.S.C. Subtitle II, et seq., as amended, Public Buildings and Works
22. 41 U.S.C. 35 et seq., Walsh-Healey Public Contracts Act
23. 41 U.S.C. 701, et seq., Drug Free Workplace Act of 1988
24. 42 U.S.C. Chapter 21, et seq., as amended, Civil Rights
25. 42 U.S.C. Chapter 45, et seq., as amended, Fair Housing
26. 42 U.S.C. Chapter 50, et seq., as amended, National Flood Insurance
27. 42 U.S.C. Chapter 55, et seq., as amended, National Environmental Policy
28. 42 U.S.C. Chapter 63, et seq., as amended, Lead-Based Paint Poisoning Prevention
29. 42 U.S.C. Chapter 69, et seq., as amended, Community Development
30. 42 U.S.C. Chapter 6A, et seq., as amended, Public Health Services
31. 42 U.S.C. Chapter 76, et seq., as amended, Age Discrimination in Federally Assisted Programs
32. 42 U.S.C. Chapter 89, et seq., as amended, Congregate Housing Services
33. 42 U.S.C. Chapter 85, et seq., as amended, Air Pollution Prevention and Control
34. 42 U.S.C. Chapter 126, et seq., as amended, Equal Opportunity for Individuals with Disabilities
35. 42 U.S.C. Chapter 130, et seq., as amended, National Affordable Housing
36. C.R.S. 24-34-501 - 510, et seq., as amended, Colorado Housing Act of 1970
37. C.R.S. 24-75-601 et seq., as amended, Legal Investment of Public Funds
38. Executive Order 11063, HUD Equal Opportunity in Housing, as amended by Executive Order 12259,
Leadership and Coordination of Fair Housing in Federal Programs
39. Executive Order 11593, Protection and Enhancement of the Cultural Environment
40. Executive Order 11988, Floodplain Management
41. OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
EXHIBIT B – STATEMENT OF PROJECT
Business Loan Fund
1. GENERAL DESCRIPTION OF THE PROJECT(S)
1.1. General Description. This Project consists of providing Community Development Block Grant
(CDBG) funds to the Grantee to continue a Business Loan Fund (BLF), the primary purpose of which
is to encourage economic diversification and job creation and/or retention which addresses the program
objective of benefit to Low and Moderate Income Persons, as defined in §2.1 below. Eagle County is
designated as the Lead County or Grantee. CDBG funds may be used to operate a business loan fund
program, provide micro-enterprise business financial and/or technical assistance, or provide funding for
feasibility/planning studies. Details of allowable activities and related requirements are outlined in the
remainder of this Exhibit B.
1.2. Eligible Expenses. The activities allowed under this Grant shall be those listed under this subsection
and §7 below.
1.2.1. Business and Micro-Enterprise Financial Assistance. Eligible expenses include, but are not
limited to, costs associated with working capital, operating expenses, machinery and equipment,
land and/or building acquisition, and construction. The State shall provide specific approval for the
type of expenses that shall be eligible for payment with CDBG funds when Grantee, as specified in
§6.2.3, makes a specific request for such approval and such request is submitted to the State for its
review/consideration.
1.2.2. Micro-Enterprise Business Technical Assistance. Eligible expenses include costs associated
with the BLF’s provision of technical assistance through a third party provider to a business,
including but not limited to marketing, accounting and/or operational technical assistance. Technical
assistance may be authorized in conjunction with financial assistance provided under a locally
developed and state approved micro-enterprise assistance program. The State shall provide specific
approval for the type of expenses that shall be eligible for payment with CDBG funds when Grantee
makes a specific request for such approval and such request is submitted to the State for its
review/consideration.
1.2.3. Feasibility/Planning Studies. Eligible expenses include, but are not limited to, costs associated
with market research, development of a capital structure, and development of a legal structure.
Funding for this activity is typically in the form of a grant; however, on a case-by-case basis, the
State may approve alternative structures including the use of loans, loan guarantees or equity
interests. Grantee shall ensure the study(ies) be in accordance with the State’s approved terms and
conditions and with the requirements outlined in the CDBG Guidebook, which is available on
DOLA’s website. If the study results in the proposed project moving forward, the Grantee shall
ensure that a minimum of 51% Low and Moderate Income Persons benefit from the project in
accordance with §2.1 and §3.2 below.
1.2.4. General Administration. Eligible expenses include, but are not limited to the costs of
performing general Project activities related to compliance with this Grant, financial management,
loan packaging and review, and loan servicing necessary for operation of the BLF program. General
Administration funds are subject to the following requirements:
1.2.4.1. CDBG Administrative Cap. Grantee shall ensure that administrative expenses do not
exceed 16% of the total CDBG costs (sum of administrative, business financial assistance,
feasibility/planning, and business technical assistance costs) under this Grant. Compliance
shall be determined at the termination date of this Grant. At that time, if the administrative
funds drawn exceed the percentage specified herein, Grantee shall repay the excess amount to
the State unless the Governor’s Financial Review Committee (GFRC), has approved a waiver
of this requirement.
1.2.4.2. Equipment Purchase. Grantee shall submit requests for the use of CDBG
administrative funds to purchase equipment over $5,000 to DOLA staff at the Office of
Economic Development and International Trade (OEDIT) for review and approval prior to
such purchases.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Page 2 of 7 – Exhibit B – Statement of Project
1.2.4.3. Contribution toward General Administration. Grantee and/or its Subgrantee shall
inject a minimum contribution of $40,000 for the administration of the BLF on an annual
basis. However in no event shall the use of CDBG miscellaneous income, as defined in
§1.5.3 below, retained by its Subgrantee exceed $40,000 on an annual basis for this purpose.
1.3. Leveraged Funds. Grantee is required to seek leveraged funds provided by private entities, including
but not limited to the assisted businesses, banks, investors, individuals, and public entities. Such funds
shall generally comprise the majority of funds used to assist businesses receiving CDBG assistance.
Unless otherwise authorized in writing by the State, Grantee shall be responsible for meeting the
required leveraged funds for this Project, as specified in §7 below, during the term of this Grant.
Leveraged funds shall not be considered matching funds for federal program purposes. The State
recognizes that utilization of the micro-enterprise program may make this leverage criterion
unattainable. To the extent that CDBG funds are utilized to provide assistance to micro-enterprises,
Grantee’s share of leveraged funds may be reduced on a pro-rata basis.
1.4. Program Income. If Grantee has not entered into a subgrantee agreement for the administration of the
BLF, all revenues received by the Grantee which result directly from the CDBG-assisted activity,
including but not limited to principal and interest payments, origination fees, servicing charges, interest
earned and proceeds from the sale of acquired assets, shall be considered to be program income and
subject to CDBG requirements.
1.5. Subgrant. This subsection is, or is not applicable. When applicable, the terms and provisions of
this Grant may also pertain to Subgrantee, whether Subgrantee is specifically mentioned or not.
Grantee is not released from its obligations under this Grant even if it has contracted out the
administration of the BLF.
1.5.1. Subgrantee. Grantee has entered into a subgrantee agreement with Northwest Colorado Council
of Governments (“NWCCOG” or “Subgrantee”), a qualifying non-profit organization, for the
administration of the BLF, as allowed under Section 105(a)(15) of the Housing and Community
Development Act of 1974.
1.5.2. Approval of Subgrantee Agreement. Grantee shall submit its subgrantee agreement to DOLA
staff at OEDIT and obtain the State’s approval of such subgrantee agreement prior to disbursement
of Grant funds. Subgrantee agreement shall clearly delineate contractual responsibilities of the
Grantee and Subgrantee.
1.5.3. Miscellaneous Income. All revenues received by Subgrantee which result directly from the
CDBG-assisted activity, including but not limited to principal and interest payments, origination
fees, servicing charges, interest earned and proceeds from the sale of acquired assets shall be
considered to be miscellaneous income.
1.5.3.1. Use of Funds. Unless otherwise authorized in writing by the State, all miscellaneous
income shall be retained by Subgrantee and used to continue the operation of the BLF,
specifically making loans to businesses and micro-enterprise businesses and paying
reasonable and necessary general administrative costs associated with the BLF.
1.5.3.2. Limitation on use of Miscellaneous Income for Administrative Expenses. The
maximum amount of miscellaneous income that can be used for administrative costs shall not
exceed $80,000 during the Initial term of this Grant. At the termination of the Grant, if the
amount of miscellaneous income used exceeds the amount specified above, Subgrantee shall
repay the excess amount to the BLF’s account, unless the GFRC has approved a waiver of this
requirement.
1.5.3.3. Post Grant Termination Requirements. Upon the expiration of this Grant,
Subgrantee shall ensure that it has entered into a separate agreement with the State pertaining
to the anticipated amount of miscellaneous income funds to be used for general administrative
costs related to the operation of the BLF on an annual basis. Subgrantee shall notify the State
if the anticipated amount was exceeded by more than 10% in any given year, if Subgrantee
would like to request an amendment to such agreement to change the stated amount of general
administrative funds, or if Subgrantee would like to request an amendment related to eligible
uses of funds. Miscellaneous income loses its federal identity and is generally not required to
meet federal or state program requirements except to the degree delineated in this provision.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Page 3 of 7 – Exhibit B – Statement of Project
In consideration of the State approving the Miscellaneous Income designation for such funds,
Grantee and Subgrantee shall provide accurate, complete, and timely disclosure of the BLF’s
performance results for all current and prior CDBG BLF grants in accordance with reporting
requirements set forth in §6.1.1 below.
1.6. Davis Bacon Fair Labor Standards. When applicable, Grantee and Subgrantee(s) shall comply with
all the requirements of the Davis Bacon Fair Labor Standards in accordance with the CDBG
Guidebook. Documentation shall be submitted to DLG at the time of occurrence.
1.7. Section 3 of the HUD Act of 1968. When applicable, Grantee and Subgrantee(s) shall, to the greatest
extent feasible, provide opportunities for training and employment that arise through HUD-financed
projects and will be given to lower-income persons in the Project area, and contracts awarded to
businesses located in the project area or to businesses owned in substantial part, by residents of the
Project area.
1.8. Federal Funding Accountability and Transparency Act of 2006, (Pub L. 109-282) (Transparency
Act , also known as FFATA). Grantee and subgrantees are required to report award information on
the government Website and register with U.S. Government System for Award Management (SAM) at
http://www.sam.gov. See Exhibit C – Federal Provisions 09-25-19, for specific information.
2. TERMINOLOGY
2.1. Low and Moderate Income Person. This subsection is, or is not applicable. Grantee shall
verify every household’s income eligibility, using the income certification forms prescribed by the
State and the maximum income limits established by HUD, and retain such documentation in its files.
Person is defined as:
2.1.1. Those persons who are members of low- and moderate-income households as set forth in the
HUD User Income Limits Documentation System. See
https://www.huduser.gov/portal/datasets/il.html#2019_query. Select Click Here for FY 2019 IL
Documentation, under Access Individual Income Limits Areas.
2.1.2. Those persons who have been determined by HUD, based upon most recent Census data, to be
low- and moderate-income persons.
2.1.3. Those persons belonging to clientele groups who are generally presumed by HUD to be low
and moderate-income persons.
2.2. Abbreviations.
2.2.1. “BLF” means Business Loan Fund.
2.2.2. “CDBG” means Community Development Block Grant.
2.2.3. The “CDBG Guidebook” or “the Guidebook” means CDBG Guidebook for Public Facilities
and Construction Projects. It is updated periodically and available on the Department’s website.
2.2.4. “DLG” means the Division of Local Government in the Department of Local Affairs (DOLA)
located at 1313 Sherman Street, Room 521, Denver, Colorado 80203.
2.2.5. “FRC” or “GFRC” means the Governor’s Financial Review Committee. This committee is
designated by an Executive Order of the Governor to approve all economic development projects
funded with CDBG funds.
2.2.6. “HUD” means the U.S. Department of Housing and Urban Development.
2.2.7. Lead County” means the county acting as the Grantee for this Project.
2.2.8. “OEDIT” means the Colorado Office of Economic Development and International Trade located
at 1600 Broadway, Suite 2500, Denver, Colorado 80202.
2.2.9. “State” means the State of Colorado.
3. DELIVERABLES
3.1. Service Area. The service area for this Project is as follows: Eagle, Garfield, Moffat, Grand, Routt,
Jackson, Rio Blanco, Summit, Pitkin Counties in Colorado.
3.2. Outcome.
3.2.1. If the National Objective described in §3.3.1 below is checked, the Grantee commits that at least
29 full-time equivalent permanent jobs will be directly created and/or retained through the collective
provision of CDBG funds. At least 51% of jobs created and/or retained by each business must be
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Page 4 of 7 – Exhibit B – Statement of Project
filled by persons as selected in §2.1 above. Grantee shall provide written evidence that the
committed number of jobs have been actually created and/or retained by each individual business
and that all businesses collectively meet the requirements in this Exhibit B and the attached Exhibit
C. Hiring requirements of persons as selected in §2.1 above must be achieved by each business as
well. In the event that there is any deviation from job creation, retention and/or persons’ (as
selected in §2.1 above) hiring requirements, Grantee must submit written documentation to
substantiate the reasons for such deficiencies at or prior to Project Close Out. If a deficiency exists,
a review by the State will be made to determine the ability to close out this Grant.
3.2.2. If the National Objective described in §3.3.2 below is checked, the State recognizes that
utilization of the micro-enterprise business financial and technical assistance program may make the
job creation/retention requirements referenced above in §3.2.1 unattainable if the micro-
enterprise(s) receiving funding meet(s) the definition of Limited Clientele which means that the
owners of the micro-enterprise(s) are persons who are Low and Moderate Income Persons as set
forth in in §2.1 above. To the extent that CDGB funds are utilized to provide assistance to such
owners of micro-enterprises, Grantee’s job creation/retention commitment may be reduced on a pro-
rata basis. In this case, the Grantee shall provide written documentation that the activity funded is a
micro-enterprise activity carried out in accordance with respect to those owners of micro-enterprises
assisted under the activity who are Low and Moderate Income Persons. For these purposes, once a
person is determined to be a Low and Moderate Income Person, he/she may be presumed to qualify
as such for up to a three-year period.
3.3. National Objective. This Project shall meet the following National Objective(s):
3.3.1. Low/Moderate Income Benefit, jobs. To the extent that the BLF provides assistance to
business(es) that commit to create and/or retain full-time equivalent permanent jobs, the Project will
involve the employment of persons, the majority of whom are Low and Moderate Income Persons.
3.3.2. Low/Moderate Income Benefit, limited clientele. To the extent that the BLF provides
financial and technical assistance to the owners of a micro-enterprise(s) who are Low and Moderate
Income Persons as specified in §2.1 above, the Project will benefit a Limited Clientele.
4. PERSONNEL:
4.1. Responsible Administrator. Grantee’s performance hereunder shall be under the direct supervision of
Jon Stavney, Executive Director, NWCCOG, (jstavney@nwccog.org), an employee or agent of
Grantee, who is hereby designated as the responsible administrator of this Project.
4.2. BLF Administrator. Grantee’s performance hereunder shall be under the direct supervision of Anita
Cameron, Business Loan fund Manager, NWCCOG, (anita@northwestloanfund.org), an
employee or agent of Grantee, who is hereby designated as the BLF administrator of this Project.
4.3. Replacement. Grantee shall immediately notify the State if any key personnel specified in §5 of this
Exhibit B cease to serve. All notices sent under this subsection shall be sent in accordance with §15 of
the Grant.
4.4. Training. BLF Administrator shall be required to attend all training seminars, including but not limited
to the bi-annual BLF meetings unless mutually agreed by the State and the BLF Administrator prior to
the training seminar.
5. PAYMENT
Payments shall be made in accordance with the provisions set forth in §7 of the Grant. Grantee’s requests
for funds from this Grant shall be for the reimbursement of actual eligible expenditures and if necessary, an
estimation of funds for immediate needs.
5.1. Payment Schedule. Grantee shall disburse Grant Funds received from the State within fifteen days of
receipt. Excess funds shall be returned to the Department.
Payment Amount
Interim or Final
Payment(s)
$580,000 Paid upon receipt of required supporting documentation
and written requests from the Grantee for eligible and
approved projects or activities.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Page 5 of 7 – Exhibit B – Statement of Project
Total $580,000
5.2. Interest. Grantee or Subgrantee may keep interest amounts up to $100 per year for administrative
expenses.
6. ADMINISTRATIVE REQUIREMENTS
6.1. Reporting.
6.1.1. Annual Survey Report. Grantee shall submit to DOLA staff at OEDIT (with acknowledgement
signatures from Grantee and Subgrantee, if applicable), an annual survey/report containing
information on the BLF’s historical and current performance in various areas including all CDBG
funds and CDBG Miscellaneous Income. Such annual survey/report shall be in State prescribed
format and is due on or before March 31st of each calendar year unless an alternate deadline is
provided in writing by DOLA staff at OEDIT. The annual survey/report shall be required during the
term of this Grant and shall continue to be required on an annual basis thereafter.
6.1.2. Disclosure Reports. Grantee shall provide updated Disclosure Reports, when applicable as
required by HUD, to DOLA staff at OEDIT.
6.1.3. Financial Status and Progress Report. Grantee shall provide quarterly financial and program
reports to DOLA staff at OEDIT in accordance with the Guidebook.
6.1.4. Jobs Report. Grantee shall continue to report to the State information on all persons which fill
jobs created and/or retained by assisted businesses and micro-enterprise businesses (if jobs were
committed by the micro-enterprise business) until the number of jobs specified in §3.2 above have
been met, but in no event shall the report period be less than one (1) year from the effective date of
the business assistance agreement, even if this Grant has expired, unless the Grantee has received a
reporting timeframe waiver from the State. In the event the assisted businesses and applicable
micro-enterprise businesses meet or exceed the job requirements Grantee shall ensure that at least
51% of all jobs created/retained (as a result of CDBG funds) are provided to persons as specified in
§2.1 above. In the event that CDBG funds are not fully expended, the State may pro-rate the number
of jobs that must be created and/or retained accordingly.
6.1.5. Project Completion Report. This report is due within 90 days after completion of the Project,
including information regarding the required public hearing, actions taken to Affirmatively Further
Fair Housing, Section 3 Report, Final Financial Status Report, and all other documentation required
in the Project Close Out section of the Guidebook, as revised periodically.
6.1.6. Single Audit Report. If Grantee is required to have a single audit, Grantee shall submit a copy of
its audit report to DLG within 180 days of its fiscal year-end.
6.2. Businesses Loan Fund Requirements. Grantee shall administer the Business Loan Fund in
compliance with applicable laws, regulations, authoritative guidances, program objectives, this Grant,
and related reporting requirements.
6.2.1. Policies. BLF assistance shall be provided to businesses and/or micro-enterprise businesses
according to specific and separate policies developed by the BLF which define the criteria and
manner by which assistance shall be provided to applicants. Grantee shall submit its locally
developed BLF program policies and guidelines to DOLA staff at OEDIT for State approval.
Varying financial terms and conditions, including loans and/or grants, if so authorized by the State,
may be offered by the BLF to micro-enterprise businesses for financial assistance or technical
assistance under its approved program policies and guidelines. On a case-by-case basis, the DOLA
staff at OEDIT may authorize loan guarantees, equity interest, or royalty payments in exchange for
providing financial assistance to a business.
6.2.2. Local BLF Advisory Committee. BLF Advisory Committee, which is representative of
economic development organizations, banks, businesses, local governments and/or other related
professions in the area served by this Grant, shall review and approve policies and criteria, and shall
directly or through an appointed subcommittee approve all requests for financial assistance prior to
submitting to DOLA staff at OEDIT for approval.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Page 6 of 7 – Exhibit B – Statement of Project
6.2.3. State Approval of Funding Request. Grantee shall submit each specific funding request from
the BLF and related project descriptions, financial analysis, and terms/conditions to the State in a
State prescribed format for review and approval.
6.2.4. Fees. Grantee may charge a business applying for and/or receiving CDBG financial assistance
funds reasonable fees associated with processing its application. Application review fee may not
exceed $50 and loan origination fees may not exceed 2% of the approved financial assistance
amount. No other fees shall be charged to or collected from the applicant business without express
written approval from the DOLA staff at OEDIT. In addition, fees charged to businesses receiving
assistance from a micro-enterprise assistance program shall conform to locally approved micro-
enterprise program policies and procedures that have also been approved by the State.
6.2.5. Participation Agreement. Grantee shall not expend or draw down CDBG funds from DOLA
until the business and/or micro-enterprise business has negotiated agreements with participating
banks, individuals, public agencies and investors which set forth the amounts and terms of each
party’s participation in financing projects and which meet all applicable provisions set forth in this
Exhibit B. Copies of such agreements shall be obtained by the Grantee/Subgrantee and maintained
in its files.
6.2.6. Legal Agreement. Grantee agrees that financial assistance provided to businesses shall be
evidenced through legally binding agreements that adhere to federal and state regulations and
standard commercial loan documentation where applicable.
6.2.7. Favorable Terms. In order for a business to be considered to receive terms more favorable than
the standard business financial assistance terms offered by the BLF, the rate of return for such
business generally shall not exceed industry standards unless it is appropriate. An appropriate
determination is not required for assistance provided to micro-enterprise businesses.
6.2.8. Interest Rate.
6.2.8.1. Interest rates charged to borrowers on the CDBG portion of loans shall be no greater
than the prime interest rate (New York Prime as published in the Wall Street Journal) at the
time of loan commitment, excluding any processing or service charge imposed on the
borrower by the BLF.
6.2.8.2. Interest rates charged to borrowers on the CDBG portion of loans deemed to be of
potentially higher risk by the BLF’s Advisority Committee shall be no greater than 2.0% in
excess of the prime interest rate (New York Prime as published in the Wall Street Journal) at
the time of loan commitment, excluding any processing or service charge imposed on the
borrower by the BLF.
6.2.8.3. Interest rates charged for micro-enterprise loans shall conform to locally and state
approved program policies and guidelines.
6.2.9. Term. The term of assistance provided to businesses with CDBG funds shall not exceed ten (10)
years without specific State approval.
6.2.10. Change in Ownership. Unless otherwise approved by DOLA staff at OEDIT, loan documents
for CDBG financial assistance to a business shall specify that the loan shall become due and
payable in the event such business is sold, consolidated or merged to an extent that controlling
ownership changes prior to repayment of funds owed. Upon the close out of this Grant by the State,
the requirement for alternative approval from DOLA staff at OEDIT shall no longer be required.
6.2.11. Remedies. Grantee shall exhibit due diligence in pursuit of reasonably available remedies
should businesses or micro-enterprise businesses not fulfill contractual provisions under which the
assistance was provided.
6.2.12. Feasibility/Planning Studies. Grantee shall submit all feasibility/planning studies to DOLA
staff at OEDIT for State's review and approval. When approved, the State shall provide to Grantee
the terms and conditions specific to each feasibility/planning study.
6.3. Construction. If an approved project includes construction activities, the Grantee shall provide to DLG
all necessary forms relating to bidding and construction funded by CDBG funds as outlined in the
Guidebook.
6.4. Procurement. Grantee shall follow appropriate procurement standards as outlined in the Guidebook,
including the selection and payment of consultants, architects, and engineers necessary for the
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Page 7 of 7 – Exhibit B – Statement of Project
completion of an approved project. Procurement documentation shall be submitted to DOLA staff at
OEDIT at the time of occurrence.
6.5. On-site Visits. Grantee shall allow CDBG program representatives to make on-site visits to verify
CDBG program information if reasonable notice has been provided by the State.
6.6. On-site Monitoring. Grantee will notify DLG at least 30 days in advance of Project being completed.
On-site monitoring as outlined in the Monitoring section of the Guidebook shall be performed by DLG
prior to Project Close Out. Specific legal agreements and related documentation shall be maintained by
the Grantee/Subgrantee and shall be reviewed during the on-site monitoring.
7. PROJECT BUDGET
Budget Line(s) Total Project
Cost
Grant
Funds
Other
Funds
Other
Funds
Source Line # Cost Category
1 Business Financial
Assistance
$1,660,000 $500,000 $1,160,000 Leverage
Sources
2 Administration $160,000 $80,000 $80,000 Sub-grantee
Total $1,820,000 $580,000 $1,240,000
THE REST OF THE PAGE INTENTIONALLY LEFT BLANK
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 1 of 10
EXHIBIT C - FEDERAL PROVISIONS
1. APPLICABILITY OF PROVISIONS.
1.1. The Grant Award Letter to which these Federal Provisions are attached has been funded,
in whole or in part, with an Award of Federal funds. In the event of a conflict between the
provisions of these Federal Provisions, the Special Provisions, the agreement or any
attachments or exhibits incorporated into and made a part of the agreement, the provisions
of these Federal Provisions shall control.
2. DEFINITIONS.
2.1. For the purposes of these Federal Provisions, the following terms shall have the meanings
ascribed to them below.
2.1.1. “Agreement” means the Grant Award Letter to which these Federal Provisions are
attached and includes all Award types in §2.1.2.1 of this Exhibit.
2.1.2. “Award” means an award of Federal financial assistance, and the agreement setting
forth the terms and conditions of that financial assistance, that a non-Federal Entity
receives or administers.
2.1.2.1. Awards may be in the form of:
2.1.2.1.1. Grants;
2.1.2.1.2. Contracts;
2.1.2.1.3. Cooperative agreements, which do not include cooperative research and
development agreements (CRDA) pursuant to the Federal Technology
Transfer Act of 1986, as amended (15 U.S.C. 3710);
2.1.2.1.4. Loans;
2.1.2.1.5. Loan Guarantees;
2.1.2.1.6. Subsidies;
2.1.2.1.7. Insurance;
2.1.2.1.8. Food commodities;
2.1.2.1.9. Direct appropriations;
2.1.2.1.10. Assessed and voluntary contributions; and
2.1.2.1.11. Other financial assistance transactions that authorize the expenditure of
Federal funds by non-Federal Entities.
2.1.2.1.12. Any other items specified by OMB in policy memoranda available at the
OMB website or other source posted by the OMB.
2.1.2.2. Award does not include:
2.1.2.2.1. Technical assistance, which provides services in lieu of money;
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 2 of 10
2.1.2.2.2. A transfer of title to Federally-owned property provided in lieu of money;
even if the award is called a grant;
2.1.2.2.3. Any award classified for security purposes; or
2.1.2.2.4. Any award funded in whole or in part with Recovery funds, as defined in
section 1512 of the American Recovery and Reinvestment Act (ARRA) of
2009 (Public Law 111-5).
2.1.3. “Contractor” means the party or parties to an Agreement funded, in whole or in part,
with Federal financial assistance, other than the Prime Recipient, and includes grantees,
subgrantees, Subrecipients, and borrowers. For purposes of Transparency Act
reporting, Contractor does not include Vendors.
2.1.4. “Data Universal Numbering System (DUNS) Number” means the nine-digit number
established and assigned by Dun and Bradstreet, Inc. to uniquely identify a business
entity. Dun and Bradstreet’s website may be found at: http://fedgov.dnb.com/webform.
2.1.5. “Entity” means all of the following as defined at 2 CFR part 25, subpart C:
2.1.5.1. A governmental organization, which is a State, local government, or Indian Tribe;
2.1.5.2. A foreign public entity;
2.1.5.3. A domestic or foreign non-profit organization;
2.1.5.4. A domestic or foreign for-profit organization; and
2.1.5.5. A Federal agency, but only a Subrecipient under an Award or Subaward to a non-
Federal entity.
2.1.6. “Executive” means an officer, managing partner or any other employee in a
management position.
2.1.7. “Federal Award Identification Number (FAIN)” means an Award number assigned by
a Federal agency to a Prime Recipient.
2.1.8. “Federal Awarding Agency” means a Federal agency providing a Federal Award to a
Recipient as described in 2 CFR §200.37
2.1.9. “FFATA” means the Federal Funding Accountability and Transparency Act of 2006
(Public Law 109-282), as amended by §6202 of Public Law 110-252. FFATA, as
amended, also is referred to as the “Transparency Act.”
2.1.10. “OMB” means the Executive Office of the President, Office of Management and
Budget.
2.1.11. “Prime Recipient” means a Colorado State agency or institution of higher education
that receives an Award.
2.1.12. “Subaward” means an award by a Recipient to a Subrecipient funded in whole or in
part by a Federal Award. The terms and conditions of the Federal Award flow down
to the Award unless the terms and conditions of the Federal Award specifically indicate
otherwise in accordance with 2 CFR §200.38. The term does not include payments to
a contractor or payments to an individual that is a beneficiary of a Federal program.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 3 of 10
2.1.13. “Subrecipient” means a non-Federal Entity (or a Federal agency under an Award or
Subaward to a non-Federal Entity) receiving Federal funds through a Prime Recipient
to support the performance of the Federal project or program for which the Federal
funds were awarded. A Subrecipient is subject to the terms and conditions of the
Federal Award to the Prime Recipient, including program compliance requirements.
The term “Subrecipient” includes and may be referred to as Subgrantee. The term does
not include an individual who is a beneficiary of a federal program.
2.1.14. “Subrecipient Parent DUNS Number” means the subrecipient parent organization’s 9-
digit Data Universal Numbering System (DUNS) number that appears in the
subrecipient’s System for Award Management (SAM) profile, if applicable.
2.1.15. “Federal Provisions” means these Federal Provisions for Federally Funded Contracts,
Grants, and Purchase Orders subject to the Transparency Act and Uniform Guidance,
as may be revised pursuant to ongoing guidance from the relevant Federal or State of
Colorado agency or institutions of higher education.
2.1.16. “System for Award Management (SAM)” means the Federal repository into which an
Entity must enter the information required under the Transparency Act, which may be
found at http://www.sam.gov.
2.1.17. “Total Compensation” means the cash and noncash dollar value earned by an Executive
during the Prime Recipient’s or Subrecipient’s preceding fiscal year and includes the
following:
2.1.17.1. Salary and bonus;
2.1.17.2. Awards of stock, stock options, and stock appreciation rights, using the dollar
amount recognized for financial statement reporting purposes with respect to the
fiscal year in accordance with the Statement of Financial Accounting Standards
No. 123 (Revised 2005) (FAS 123R), Shared Based Payments;
2.1.17.3. Earnings for services under non-equity incentive plans, not including group life,
health, hospitalization or medical reimbursement plans that do not discriminate
in favor of Executives and are available generally to all salaried employees;
2.1.17.4. Change in present value of defined benefit and actuarial pension plans;
2.1.17.5. Above-market earnings on deferred compensation which is not tax-qualified;
2.1.17.6. Other compensation, if the aggregate value of all such other compensation (e.g.
severance, termination payments, value of life insurance paid on behalf of the
employee, perquisites or property) for the Executive exceeds $10,000.
2.1.18. “Transparency Act” means the Federal Funding Accountability and Transparency Act
of 2006 (Public Law 109-282), as amended by §6202 of Public Law 110-252. The
Transparency Act also is referred to as FFATA.
2.1.19. “Uniform Guidance” means the Office of Management and Budget Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards, which supersedes requirements from OMB Circulars A-21, A-87, A-110, and
A-122, OMB Circulars A-89, A-102, and A-133, and the guidance in Circular A-50 on
Single Audit Act follow-up. The terms and conditions of the Uniform Guidance flow
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 4 of 10
down to Awards to Subrecipients unless the Uniform Guidance or the terms and
conditions of the Federal Award specifically indicate otherwise.
2.1.20. “Vendor” means a dealer, distributor, merchant or other seller providing property or
services required for a project or program funded by an Award. A Vendor is not a Prime
Recipient or a Subrecipient and is not subject to the terms and conditions of the Federal
award. Program compliance requirements do not pass through to a Vendor.
3. COMPLIANCE.
3.1. Contractor shall comply with all applicable provisions of the Transparency Act, all
applicable provisions of the Uniform Guidance, and the regulations issued pursuant thereto,
including but not limited to these Federal Provisions. Any revisions to such provisions or
regulations shall automatically become a part of these Federal Provisions, without the
necessity of either party executing any further instrument. The State of Colorado may
provide written notification to Contractor of such revisions, but such notice shall not be a
condition precedent to the effectiveness of such revisions.
4. SYSTEM FOR AWARD MANAGEMENT (SAM) AND DATA UNIVERSAL
NUMBERING SYSTEM (DUNS) REQUIREMENTS.
4.1. SAM. Contractor shall maintain the currency of its information in SAM until the
Contractor submits the final financial report required under the Award or receives final
payment, whichever is later. Contractor shall review and update SAM information at least
annually after the initial registration, and more frequently if required by changes in its
information.
4.2. DUNS. Contractor shall provide its DUNS number to its Prime Recipient, and shall update
Contractor’s information in Dun & Bradstreet, Inc. at least annually after the initial
registration, and more frequently if required by changes in Contractor’s information.
5. TOTAL COMPENSATION.
5.1. Contractor shall include Total Compensation in SAM for each of its five most highly
compensated Executives for the preceding fiscal year if:
5.1.1. The total Federal funding authorized to date under the Award is $25,000 or more; and
5.1.2. In the preceding fiscal year, Contractor received:
5.1.2.1. 80% or more of its annual gross revenues from Federal procurement contracts
and subcontracts and/or Federal financial assistance Awards or Subawards
subject to the Transparency Act; and
5.1.2.2. $25,000,000 or more in annual gross revenues from Federal procurement
contracts and subcontracts and/or Federal financial assistance Awards or
Subawards subject to the Transparency Act; and
5.1.3. The public does not have access to information about the compensation of such
Executives through periodic reports filed under section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (15 U.S.C. 78m(a), 78o(d) or § 6104 of the Internal Revenue
Code of 1986.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 5 of 10
6. REPORTING.
6.1. Contractor shall report data elements to SAM and to the Prime Recipient as required in this
Exhibit if Contractor is a Subrecipient for the Award pursuant to the Transparency Act.
No direct payment shall be made to Contractor for providing any reports required under
these Federal Provisions and the cost of producing such reports shall be included in the
Agreement price. The reporting requirements in this Exhibit are based on guidance from
the US Office of Management and Budget (OMB), and as such are subject to change at any
time by OMB. Any such changes shall be automatically incorporated into this Agreement
and shall become part of Contractor’s obligations under this Agreement.
7. EFFECTIVE DATE AND DOLLAR THRESHOLD FOR REPORTING.
7.1. Reporting requirements in §8 below apply to new Awards as of October 1, 2010, if the
initial award is $25,000 or more. If the initial Award is below $25,000 but subsequent
Award modifications result in a total Award of $25,000 or more, the Award is subject to
the reporting requirements as of the date the Award exceeds $25,000. If the initial Award
is $25,000 or more, but funding is subsequently de-obligated such that the total award
amount falls below $25,000, the Award shall continue to be subject to the reporting
requirements.
7.2. The procurement standards in §9 below are applicable to new Awards made by Prime
Recipient as of December 26, 2015. The standards set forth in §11 below are applicable to
audits of fiscal years beginning on or after December 26, 2014.
8. SUBRECIPIENT REPORTING REQUIREMENTS.
8.1. If Contractor is a Subrecipient, Contractor shall report as set forth below.
8.1.1. To SAM. A Subrecipient shall register in SAM and report the following data elements
in SAM for each Federal Award Identification Number no later than the end of the
month following the month in which the Subaward was made:
8.1.1.1. Subrecipient DUNS Number;
8.1.1.2. Subrecipient DUNS Number + 4 if more than one electronic funds transfer (EFT)
account;
8.1.1.3. Subrecipient Parent DUNS Number;
8.1.1.4. Subrecipient’s address, including: Street Address, City, State, Country, Zip + 4,
and Congressional District;
8.1.1.5. Subrecipient’s top 5 most highly compensated Executives if the criteria in §4
above are met; and
8.1.1.6. Subrecipient’s Total Compensation of top 5 most highly compensated Executives
if criteria in §4 above met.
8.1.2. To Prime Recipient. A Subrecipient shall report to its Prime Recipient, upon the
effective date of the Agreement, the following data elements:
8.1.2.1. Subrecipient’s DUNS Number as registered in SAM.
8.1.2.2. Primary Place of Performance Information, including: Street Address, City, State,
Country, Zip code + 4, and Congressional District.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 6 of 10
9. PROCUREMENT STANDARDS.
9.1. Procurement Procedures. A Subrecepient shall use its own documented procurement
procedures which reflect applicable State, local, and Tribal laws and regulations, provided
that the procurements conform to applicable Federal law and the standards identified in the
Uniform Guidance, including without limitation, §§200.318 through 200.326 thereof.
9.2. Procurement of Recovered Materials. If a Subrecepient is a State Agency or an agency
of a political subdivision of the State, its contractors must comply with section 6002 of the
Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act.
The requirements of Section 6002 include procuring only items designated in guidelines of
the Environmental Protection Agency (EPA) at 40 CFR part 247 that contain the highest
percentage of recovered materials practicable, consistent with maintaining a satisfactory
level of competition, where the purchase price of the item exceeds $10,000 or the value of
the quantity acquired during the preceding fiscal year exceeded $10,000; procuring solid
waste management services in a manner that maximizes energy and resource recovery; and
establishing an affirmative procurement program for procurement of recovered materials
identified in the EPA guidelines.
10. ACCESS TO RECORDS
10.1. A Subrecipient shall permit Recipient and auditors to have access to Subrecipient’s records
and financial statements as necessary for Recipient to meet the requirements of §200.331
(Requirements for pass-through entities), §§200.300 (Statutory and national policy
requirements) through 200.309 (Period of performance), and Subpart F-Audit
Requirements of the Uniform Guidance. 2 CFR §200.331(a)(5).
11. SINGLE AUDIT REQUIREMENTS
11.1. If a Subrecipient expends $750,000 or more in Federal Awards during the Subrecipient’s
fiscal year, the Subrecipient shall procure or arrange for a single or program-specific audit
conducted for that year in accordance with the provisions of Subpart F - Audit
Requirements of the Uniform Guidance, issued pursuant to the Single Audit Act
Amendments of 1996, (31 U.S.C. 7501-7507). 2 CFR §200.501.
11.1.1. Election. A Subrecipient shall have a single audit conducted in accordance with
Uniform Guidance §200.514 (Scope of audit), except when it elects to have a program-
specific audit conducted in accordance with §200.507 (Program-specific audits). The
Subrecipient may elect to have a program-specific audit if Subrecipient expends
Federal Awards under only one Federal program (excluding research and development)
and the Federal program's statutes, regulations, or the terms and conditions of the
Federal award do not require a financial statement audit of Prime Recipient. A
program-specific audit may not be elected for research and development unless all of
the Federal Awards expended were received from Recipient and Recipient approves in
advance a program-specific audit.
11.1.2. Exemption. If a Subrecipient expends less than $750,000 in Federal Awards during
its fiscal year, the Subrecipient shall be exempt from Federal audit requirements for
that year, except as noted in 2 CFR §200.503 (Relation to other audit requirements),
but records shall be available for review or audit by appropriate officials of the Federal
agency, the State, and the Government Accountability Office.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 7 of 10
11.1.3. Subrecepient Compliance Responsibility. A Subrecipient shall procure or otherwise
arrange for the audit required by Part F of the Uniform Guidance and ensure it is
properly performed and submitted when due in accordance with the Uniform Guidance.
Subrecipient shall prepare appropriate financial statements, including the schedule of
expenditures of Federal awards in accordance with Uniform Guidance §200.510
(Financial statements) and provide the auditor with access to personnel, accounts,
books, records, supporting documentation, and other information as needed for the
auditor to perform the audit required by Uniform Guidance Part F - Audit
Requirements.
12. CONTRACT PROVISIONS FOR SUBRECEPIENT CONTRACTS
12.1. If Contractor is a Subrecipient, then it shall comply with and shall include all of the
following applicable provisions in all subcontracts entered into by it pursuant to this
Agreement.
12.1.1. Equal Employment Opportunity. Except as otherwise provided under 41 CFR Part
60, all contracts that meet the definition of “federally assisted construction contract” in
41 CFR Part 60-1.3 shall include the equal opportunity clause provided under 41 CFR
60-1.4(b), in accordance with Executive Order 11246, “Equal Employment
Opportunity” (30 FR 12319, 12935, 3 CFR Part, 1964-1965 Comp., p. 339), as
amended by Executive Order 11375, “Amending Executive Order 11246 Relating to
Equal Employment Opportunity,” and implementing regulations at 41 CFR part 60,
“Office of Federal Contract Compliance Programs, Equal Employment Opportunity,
Department of Labor.
12.1.1.1. During the performance of this contract, the contractor agrees as follows:
12.1.1.1.1. Contractor will not discriminate against any employee or applicant for
employment because of race, color, religion, sex, or national origin. The
contractor will take affirmative action to ensure that applicants are
employed, and that employees are treated during employment, without
regard to their race, color, religion, sex, or national origin. Such action shall
include, but not be limited to the following: employment, upgrading,
demotion, or transfer, recruitment or recruitment advertising; layoff or
termination; rates of pay or other forms of compensation; and selection for
training, including apprenticeship. The contractor agrees to post in
conspicuous places, available to employees and applicants for employment,
notices to be provided by the contracting officer setting forth the provisions
of this nondiscrimination clause.
12.1.1.1.2. Contractor will, in all solicitations or advertisements for employees placed
by or on behalf of the contractor, state that all qualified applicants will
receive consideration for employment without regard to race, color,
religion, sex, or national origin.
12.1.1.1.3. Contractor will send to each labor union or representative of workers with
which he has a collective bargaining agreement or other contract or
understanding, a notice to be provided by the agency contracting officer,
advising the labor union or workers' representative of the contractor's
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 8 of 10
commitments under section 202 of Executive Order 11246 of September
24, 1965, and shall post copies of the notice in conspicuous places available
to employees and applicants for employment.
12.1.1.1.4. Contractor will comply with all provisions of Executive Order 11246 of
September 24, 1965, and of the rules, regulations, and relevant orders of the
Secretary of Labor.
12.1.1.1.5. Contractor will furnish all information and reports required by Executive
Order 11246 of September 24, 1965, and by the rules, regulations, and
orders of the Secretary of Labor, or pursuant thereto, and will permit access
to his books, records, and accounts by the contracting agency and the
Secretary of Labor for purposes of investigation to ascertain compliance
with such rules, regulations, and orders.
12.1.1.1.6. In the event of Contractor's non-compliance with the nondiscrimination
clauses of this contract or with any of such rules, regulations, or orders, this
contract may be canceled, terminated or suspended in whole or in part and
the contractor may be declared ineligible for further Government contracts
in accordance with procedures authorized in Executive Order 11246 of
September 24, 1965, and such other sanctions may be imposed and remedies
invoked as provided in Executive Order 11246 of September 24, 1965, or
by rule, regulation, or order of the Secretary of Labor, or as otherwise
provided by law.
12.1.1.1.7. Contractor will include the provisions of paragraphs (1) through (7) in every
subcontract or purchase order unless exempted by rules, regulations, or
orders of the Secretary of Labor issued pursuant to section 204 of Executive
Order 11246 of September 24, 1965, so that such provisions will be binding
upon each subcontractor or vendor. The contractor will take such action
with respect to any subcontract or purchase order as may be directed by the
Secretary of Labor as a means of enforcing such provisions including
sanctions for noncompliance: Provided, however, that in the event
Contractor becomes involved in, or is threatened with, litigation with a
subcontractor or vendor as a result of such direction, the contractor may
request the United States to enter into such litigation to protect the interests
of the United States.”
12.1.2. Davis-Bacon Act. Davis-Bacon Act, as amended (40 U.S.C. 3141-3148). When
required by Federal program legislation, all prime construction contracts in excess of
$2,000 awarded by non-Federal entities must include a provision for compliance with
the Davis-Bacon Act (40 U.S.C. 3141-3144, and 3146-3148) as supplemented by
Department of Labor regulations (29 CFR Part 5, “Labor Standards Provisions
Applicable to Contracts Covering Federally Financed and Assisted Construction”). In
accordance with the statute, contractors must be required to pay wages to laborers and
mechanics at a rate not less than the prevailing wages specified in a wage determination
made by the Secretary of Labor. In addition, contractors must be required to pay wages
not less than once a week. The non-Federal entity must place a copy of the current
prevailing wage determination issued by the Department of Labor in each solicitation.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 9 of 10
The decision to award a contract or subcontract must be conditioned upon the
acceptance of the wage determination. The non-Federal entity must report all suspected
or reported violations to the Federal awarding agency. The contracts must also include
a provision for compliance with the Copeland “Anti-Kickback” Act (40 U.S.C. 3145),
as supplemented by Department of Labor regulations (29 CFR Part 3, “Contractors and
Subcontractors on Public Building or Public Work Financed in Whole or in Part by
Loans or Grants from the United States”). The Act provides that each contractor or
Subrecipient must be prohibited from inducing, by any means, any person employed in
the construction, completion, or repair of public work, to give up any part of the
compensation to which he or she is otherwise entitled. The non-Federal entity must
report all suspected or reported violations to the Federal awarding agency.
12.1.3. Rights to Inventions Made Under a Contract or Agreement. If the Federal Award
meets the definition of “funding agreement” under 37 CFR §401.2 (a) and Subrecipient
wishes to enter into a contract with a small business firm or nonprofit organization
regarding the substitution of parties, assignment or performance of experimental,
developmental, or research work under that “funding agreement,” Subrecipient must
comply with the requirements of 37 CFR Part 401, “Rights to Inventions Made by
Nonprofit Organizations and Small Business Firms Under Government Grants,
Contracts and Cooperative Agreements,” and any implementing regulations issued by
the awarding agency.
12.1.4. Clean Air Act (42 U.S.C. 7401-7671q.) and the Federal Water Pollution Control
Act (33 U.S.C. 1251-1387), as amended. Contracts and subgrants of amounts in
excess of $150,000 must contain a provision that requires the non-Federal award to
agree to comply with all applicable standards, orders or regulations issued pursuant to
the Clean Air Act (42 U.S.C. 7401-7671q) and the Federal Water Pollution Control Act
as amended (33 U.S.C. 1251-1387). Violations must be reported to the Federal
awarding agency and the Regional Office of the Environmental Protection Agency
(EPA).
12.1.5. Debarment and Suspension (Executive Orders 12549 and 12689). A contract award
(see 2 CFR 180.220) must not be made to parties listed on the government wide
exclusions in the System for Award Management (SAM), in accordance with the OMB
guidelines at 2 CFR 180 that implement Executive Orders 12549 (3 CFR part 1986
Comp., p. 189) and 12689 (3 CFR part 1989 Comp., p. 235), “Debarment and
Suspension.” SAM Exclusions contains the names of parties debarred, suspended, or
otherwise excluded by agencies, as well as parties declared ineligible under statutory
or regulatory authority other than Executive Order 12549.
12.1.6. Byrd Anti-Lobbying Amendment (31 U.S.C. 1352). Contractors that apply or bid
for an award exceeding $100,000 must file the required certification. Each tier certifies
to the tier above that it will not and has not used Federal appropriated funds to pay any
person or organization for influencing or attempting to influence an officer or employee
of any agency, a member of Congress, officer or employee of Congress, or an employee
of a member of Congress in connection with obtaining any Federal contract, grant or
any other award covered by 31 U.S.C. 1352. Each tier must also disclose any lobbying
with non-Federal funds that takes place in connection with obtaining any Federal
award. Such disclosures are forwarded from tier to tier up to the non-Federal award.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Exhibit C -- Page 10 of 10
13. CERTIFICATIONS.
13.1. Unless prohibited by Federal statutes or regulations, Recipient may require Subrecipient to
submit certifications and representations required by Federal statutes or regulations on an
annual basis. 2 CFR §200.208. Submission may be required more frequently if
Subrecipient fails to meet a requirement of the Federal award. Subrecipient shall certify in
writing to the State at the end of the Award that the project or activity was completed or
the level of effort was expended. 2 CFR §200.201(3). If the required level of activity or
effort was not carried out, the amount of the Award must be adjusted.
14. EXEMPTIONS.
14.1. These Federal Provisions do not apply to an individual who receives an Award as a natural
person, unrelated to any business or non-profit organization he or she may own or operate
in his or her name.
14.2. A Contractor with gross income from all sources of less than $300,000 in the previous tax
year is exempt from the requirements to report Subawards and the Total Compensation of
its most highly compensated Executives.
14.3. There are no Transparency Act reporting requirements for Vendors.
15. EVENT OF DEFAULT.
15.1. Failure to comply with these Federal Provisions shall constitute an event of default under
the Agreement and the State of Colorado may terminate the Agreement upon 30 days prior
written notice if the default remains uncured five calendar days following the termination
of the 30 day notice period. This remedy will be in addition to any other remedy available
to the State of Colorado under the Agreement, at law or in equity.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 3
OPTION LETTER #Insert # Here
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs
Encumbrance Number
Insert DLG encumbrance
number for this Project
Option Letter CMS
Number
Insert CMS number for this
Amendment
Grantee
Insert Grantee's Full Legal Name
Previous CMS #(s)
Insert CMS number for orig Agreement, and any prior chg docs
Project Number and Name
Insert DOLA's project number and name
Grant Amount
Initial Award: $Insert orig award amt
Option Letter ## and date effective/spendable: $0.00
Option Letter ## and date effective/spendable: $0.00
Total Grant Amount: $Insert total award to date
DOLA Regional Manager
Choose an item.
DOLA Regional Assistant
Choose an item.
Prior Grant Agreement
Expiration Date
Month Day, Year
Current Grant Agreement
Expiration Date
Month Day, Year
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Rick M. Garcia, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Yingtse Cha, Controller Delegate
Effective Date: ___________________
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 3
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
c. Budget Line Adjustment(s) – reallocation of awarded Grant Funds to Budget Line(s) (use this
Option to redistribute existing Grant Funds between budget lines)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. For use with Option 1(a): In accordance with Section 2(A) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Grantee's Name, the
State hereby exercises its option for an additional term beginning Insert start date and ending on Insert ending
date.
b. For use with Option 1(b): In accordance with Section 7(A)(i) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Grantee's Name, the
State hereby exercises its option to increase/decrease Grant Funds awarded for this Project in an amount equal to
amt of increase or (decrease), from beginning dollar amt to ending dollar amt. The Grant Award Amount
shown on the Summary of Grant Award Terms and Conditions page of this Grant Award Letter is hereby changed
to ending dollar amt. The Paymen Schedule in Section 5.1 and the Budget table in Section 7, both of Exhibit B,
are deleted and replaced with the following:
Payment Amount
Interim or Final Payment(s) Paid upon receipt of required supporting documentation
and written requests from the Grantee for eligible and
approved projects or activities.
Total
Ref
line Activity Total CDBG Funds
Other Funds
(minimum of) Source
REVENUE
CDBG Funds
Grantee/Subgrantee
Other Leveraged Funds
(minimum of)
TOTAL REVENUE
EXPENDITURES
1 Business Financial
Assistance (18A)
2 Administration
(21A)
Other:
TOTAL EXPENDITURES
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 3 of 3
c. For use with Option 1(c): In accordance with Section 7(D)(i) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Grantee's Name, the
State hereby exercises its option to re-allocate awarded Grant Funds within the Project Budget. The Budget table
in Section 7 of Exhibit B is deleted and replaced with the following:
Ref
line Activity Total CDBG Funds
Other Funds
(minimum of) Source
REVENUE
CDBG Funds
Grantee/Subgrantee
Other Leveraged Funds
(minimum of)
TOTAL REVENUE
EXPENDITURES
1 Business Financial
Assistance (18A)
2 Administration
(21A)
Other:
TOTAL EXPENDITURES
3) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or , whichever
is later.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 1
FORM 2 - Federal Funding Accountability and Transparency Act (FFATA)
Data Report Form
Reporting is required for initial awards of $25,000 or more
or award modifications that result in a total award of $25,000 or more.
Information Field
Definitions can be found in Exhibit C
Response
1. County DUNS Number:
2. County’s Legal Name:
3. County’s Parent DUNS Number:
(Report ONLY if different from County DUNS number)
4. Location of County Receiving Award:
(Full street address, including City, State and Zip+4)
5. Primary Location of Performance of the Award:
(City, State and Zip+4)
Answer True or False
6. In the preceding fiscal year, County received:
a. $25,000,000 or more in annual gross revenues from
federal procurement contracts/subcontracts and/or federal
financial assistance awards or sub-awards subject to the
Transparency Act.
b. 80% or more of its annual gross revenues from federal
procurement contracts/subcontracts and/or federal
financial assistance awards or sub-awards subject to the
Transparency Act.
c. The public does not have access to information about the
compensation of its five most highly compensated
Executives through periodic reports filed through the
Securities Exchange Act of 1934 or the IRS.
An answer to question 7 is required ONLY when all answers to questions 6 are true.
7. Names and total compensation of the five (5) most highly compensated Executives for the preceding fiscal year:
Print Name Compensation Amount
By signing below, I certify the information contained in this report is complete and accurate to the best of my
knowledge.
______________________________________ __________________
Signature of Responsible Administrator Date
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 2
OPTION LETTER #1
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs
DLG Number
F20CDBG20630
Option Letter CMS
Number
171490
Grantee
Eagle County Government
Previous CMS #(s)
154797
Project Number and Name
CDBG 20-630 – Eagle County BLF Grant Amount
Initial Award: $580,000.00
Option Letter #1 09/17/2021: $149,898.00
Total Grant Amount: $729,898.00
DOLA Program Manager
Alyson Anderson, CDBG ED Manager,
(720) 387-0267, alyson.anderson@state.co.us
Prior Grant Agreement
Expiration Date
March 31, 2022
Current Grant Agreement
Expiration Date
March 31, 2022
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Rick M. Garcia, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Beulah Messick, Controller Delegate
Effective Date: ___________________
DocuSign Envelope ID: AB11E9BD-1656-4743-84ED-C29AFA64CAD4
CDBG
9/20/2021 | 11:54 AM MDT
CTGG1 NLAA 2020*2837
9/21/2021 | 7:04 PM MDT
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 2
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
c. Budget Line Adjustment(s) – reallocation of awarded Grant Funds to Budget Line(s) (use this
Option to redistribute existing Grant Funds between budget lines)
d. Change in the number of FTE jobs created/retained within current term (use this option for changes
to the number of jobs in Exh B Subsection 3.2.1)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. Reserved for use with Option 1(a). I
b. For use with Option 1(b): In accordance with Section 7(A)(i) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Eagle County
Government, the State hereby exercises its option to increase Grant Funds awarded for this Project in an amount
equal to $149,898, from $580,000 to $729,898. The Grant Award Amount shown on the Summary of Grant
Award Terms and Conditions page of this Grant Award Letter is hereby changed to $729,898. The Paymen
Schedule in Section 5.1 and the Budget table in Section 7, both of Exhibit B, are deleted and replaced with the
following:
Payment Amount
Interim or Final Payment(s) $729,898 Paid upon receipt of required supporting documentation
and written requests from the Grantee for eligible and
approved projects or activities.
Total $729,898
Budget Line(s) Total Project Cost Grant Funds Other Funds Other Funds
Source Line # Cost Category
1 Business Financial Assistance $1,660,000 $500,000 $1,160,000 Leverage
Sources
2 Administration $160,000 $80,000 $80,000 Sub-grantee
3 Business Financial Assistance CV
Supplemental Funds - OL#1
$139,898 $139,898 $0
4 Administration CV Supplemental
Funds - OL#1
$10,000. $10,000 $0
Total $1,969,898 $729,898 $1,240,000
c. Reserved for use with Option 1(c).
d. Reserved for use with Option 1(d).
3) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or September 17,
2021, whichever is later.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
DocuSign Envelope ID: AB11E9BD-1656-4743-84ED-C29AFA64CAD4Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 2
OPTION LETTER #2
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs
DLG Number
F20CDBG20630
Option Letter CMS
Number
172945
Grantee
Eagle County Government
Previous CMS #(s)
154797, 171490
Project Number and Name
CDBG 20-630 – Eagle County BLF
Grant Amount
Initial Award: $580,000.00
Option Letter #1 09/21/2021: $149,898.00
Option Letter #2 01/06/2022: $950,000.00
Total Grant Amount: $1,679,898.00
DOLA Program Manager
Alyson Anderson, CDBG ED Manager,
(720) 387-0267, alyson.anderson@state.co.us
Prior Grant Agreement
Expiration Date
March 31, 2022
Current Grant Agreement
Expiration Date
March 31, 2024
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Rick M. Garcia, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Beulah Messick, Controller Delegate
Effective Date: ___________________
DocuSign Envelope ID: CF92A35E-2EA7-4D39-A64B-0404D528D5A3
CDBG
1/9/2022 | 8:25 AM MST
CTGG1 NLAA 2020*2837
1/13/2022 | 10:12 AM MST
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 2
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. For use with Option 1(a). In accordance with Section 2(A) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Eagle County
Government, the State hereby exercises its option for an additional term beginning 04/01/2022 and ending on
03/31/2024.
b. For use with Option 1(b): In accordance with Section 7(A)(i) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Eagle County
Government, the State hereby exercises its option to increase Grant Funds awarded for this Project in an amount
equal to $950,000, from $729,898 to $1,679,898. The Grant Award Amount shown on the Summary of Grant
Award Terms and Conditions page of this Grant Award Letter is hereby changed to $1,679,898. The Paymen
Schedule in Section 5.1 and the Budget table in Section 7, both of Exhibit B, are deleted and replaced with the
following:
Payment Amount
Interim or Final Payment(s) $1,679,898 Paid upon receipt of required supporting documentation
and written requests from the Grantee for eligible and
approved projects or activities.
Total $1,679,898
Budget Line(s) Total Project Cost OL#2 change
(incr/decr)
New Total
Grant Funds
Other Funds Other
Funds
Source Line
#
Cost Category
1 CD1984 Business Financial
Assistance
$2,256,000 $0 $500,000 $1,756,000 Leverage
Sources
2 CD1984 Administration $240,000 $0 $80,000 $160,000 Sub-grantee
3 CD9101 Business Financial
Assistance CV Supplemental
Funds
$559,898 $420,000 $559,898 $0
4 CD9101 Administration CV
Supplemental Funds
$90,000. $80,000 $90,000 $0
5 CD2086 Business Financial
Assistance
$378,000 $378,000 $378,000 $0
6 CD2086 Administration $72,000 $72,000 $72,000 $0
Total $3,595,898 $950,000 $1,679,898 $1,916,000
3) OUTCOME. The first sentence of §3.2.1 in Exhibit B is deleted and replaced with the following:
“If the National Obejctive described in §3.3.1 below is checked, the Grantee commits that at least seventy-two (72)
full-time equivalent permanent jobs will be directly created.”
4) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or January 6, 2022,
whichever is later.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
DocuSign Envelope ID: CF92A35E-2EA7-4D39-A64B-0404D528D5A3Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 2
OPTION LETTER #3
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs (DOLA)
DLG Number
F20CDBG20630
Option Letter CMS
Number
177403
Grantee
Eagle County Government
Previous CMS #(s)
154797, 171490, 172945
Project Number and Name
CDBG 20-630 – Eagle County BLF
Grant Amount
Initial Award: $580,000.00
Option Letter #1 09/21/2021: $149,898.00
Option Letter #2 01/13/2022: $950,000.00
Option Letter #3 07/20/2022 $580,000.00
Total Grant Amount: $2,259,898.00
DOLA Program Manager
Alyson Anderson, CDBG ED Manager,
(720) 387-0267, alyson.anderson@state.co.us
Prior Grant Agreement
Expiration Date
March 31, 2024
Current Grant Agreement
Expiration Date
March 31, 2024
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Rick M. Garcia, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Beulah Messick, Controller Delegate
Effective Date: ___________________
DocuSign Envelope ID: F4E7B685-D32F-4982-A5B1-84CDFD31E352
CDBG-OEDIT
7/21/2022 | 2:08 PM MDT
CTGG1 NLAA 202000002837
7/28/2022 | 5:52 PM MDT
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 2
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. Reserved for use with Option 1(a).
b. For use with Option 1(b): In accordance with Section 7(A)(i) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Eagle County
Government, the State hereby exercises its option to increase Grant Funds awarded for this Project in an amount
equal to $580,000, from $1,679,898 to $2,259,898. The Grant Award Amount shown on the Summary of Grant
Award Terms and Conditions page of this Grant Award Letter is hereby changed to $2,259,898. The Payment
Schedule in Section 5.1 and the Budget table in Section 7, both of Exhibit B, are deleted and replaced with the
following:
Payment Amount
Interim or Final Payment(s) $2,259,898 Paid upon receipt of required supporting documentation
and written requests from the Grantee for eligible and
approved projects or activities.
Total $2,259,898
Budget Line(s) Total Project Cost OL#3 change
(incr/decr)
New Total
Grant Funds
Other Funds Other
Funds
Source Line
#
Cost Category
1 CD1984 Business Financial
Assistance
$2,256,000 $0 $500,000 $1,756,000 Leverage
Sources
2 CD1984 Administration $240,000 $0 $80,000 $160,000 Sub-grantee
3 CD9101 Business Financial
Assistance CV Supplemental
Funds
$1,059,898 $500,000 $1,059,898 $0
4 CD9101 Administration CV
Supplemental Funds
$170,000. $80,000 $170,000 $0
5 CD2086 Business Financial
Assistance
$378,000 $0 $378,000 $0
6 CD2086 Administration $72,000 $0 $72,000 $0
Total $4,175,898 $580,000 $2,259,898 $1,916,000
3) OUTCOME. The first sentence of §3.2.1 in Exhibit B is deleted and replaced with the following:
“If the National Obejctive described in §3.3.1 below is checked, the Grantee commits that at least ninety-four (94)
full-time equivalent permanent jobs will be directly created.”
4) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or July 20, 2022,
whichever is later.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
DocuSign Envelope ID: F4E7B685-D32F-4982-A5B1-84CDFD31E352Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 2
OPTION LETTER #4
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs (DOLA)
DLG Number
F20CDBG20630
Option Letter CMS
Number
186441
Grantee
Eagle County Government
Previous CMS #(s)
154797, 171490, 172945, 177403
Project Number and Name
CDBG 20-630 – Eagle County BLF
Grant Amount
Initial Award: $580,000.00
Option Letter #1 09/21/2021: $149,898.00
Option Letter #2 01/13/2022: $950,000.00
Option Letter #3 07/28/2022 $580,000.00
Option Letter #4 08/31/2023 $1,508,000.00
Total Grant Amount: $3,767,898.00
DOLA Program Manager
Alyson Anderson, CDBG ED Manager,
(720) 387-0267, alyson.anderson@state.co.us
Prior Grant Agreement
Expiration Date
March 31, 2024
Current Grant Agreement
Expiration Date
March 31, 2024
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Rick M. Garcia, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Beulah Messick, Controller Delegate
Effective Date: ___________________
DocuSign Envelope ID: 39C92CBD-6610-427A-9C3B-4EB385C8DD79
CDBG
9/8/2023 | 11:11 AM MDT
CTGG1 NLAA 202000002837
9/11/2023 | 12:48 PM MDT
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 2
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. Reserved for use with Option 1(a).
b. For use with Option 1(b): In accordance with Section 7(A)(i) of the original Grant Award Letter between the
State of Colorado, acting by and through the Colorado Department of Local Affairs, and Eagle County
Government, the State hereby exercises its option to increase Grant Funds awarded for this Project in an amount
equal to $1,508,000, from $2,259,898 to $3,767,898. The Grant Award Amount shown on the Summary of Grant
Award Terms and Conditions page of this Grant Award Letter is hereby changed to $3,767,898. The Payment
Schedule in Section 5.1 and the Budget table in Section 7, both of Exhibit B, are deleted and replaced with the
following:
Payment Amount
Interim or Final Payment(s) $3,767,898 Paid upon receipt of required supporting documentation
and written requests from the Grantee for eligible and
approved projects or activities.
Total $3,767,898
Budget Line(s) Previous
Grant
Amount
OL#4
change
(incr/decr)
New Total
Grant
Funds
Other Funds Total
Project
Cost
Other
Funds
Source Line
#
Cost Category
1 CD1984 Business Financial
Assistance
$500,000 $0 $500,000 $1,756,000 $2,256,000 Leverage
Sources
2 CD1984 Administration $80,000 $10,000 $90,000 $160,000 $250,000 Sub-grantee
3 CD9101 Business Financial
Assistance CV Supplemental
Funds
$1,059,898 $1,167,000 $2,226,898 $0 $2,226,898
4 CD9101 Administration CV
Supplemental Funds
$170,000 $198,000 $368,000 $0 $368,000
5 CD2086 Business Financial
Assistance
$378,000 $0 $378,000 $0 $378,000
6 CD2086 Administration $72,000 $0 $72,000 $0 $72,000
7 CD1984 Business Financial
Assistance
$0 $133,000 $133,000 $0 $133,000
Total $2,259,898 $1,508,000 $3,767,898 $1,916,000 $5,683,898
3) OUTCOME. The first sentence of §3.2.1 in Exhibit B is deleted and replaced with the following:
“If the National Obejctive described in §3.3.1 below is checked, the Grantee commits that at least one hundred-ten
(110) full-time equivalent permanent jobs will be directly created.”
4) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or August 31, 2023,
whichever is later.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
DocuSign Envelope ID: 39C92CBD-6610-427A-9C3B-4EB385C8DD79Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 2
OPTION LETTER #5
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs (DOLA)
DLG Number
F20CDBG20630
Option Letter CMS
Number
187285
Grantee
Eagle County Government
Previous CMS #(s)
154797, 171490, 172945, 177403, 186441
Project Number and Name
CDBG 20-630 – Eagle County BLF
Grant Amount
Initial Award: $580,000.00
Option Letter #1 09/21/2021: $149,898.00
Option Letter #2 01/13/2022: $950,000.00
Option Letter #3 07/28/2022: $580,000.00
Option Letter #4 09/11/2023: $1,508,000.00
Option Letter #5 10/17/2023: $1,392,000.00
Total Grant Amount: $5,159,898.00
DOLA Program Manager
Alyson Anderson, CDBG Business Manager,
(720) 387-0267, (Alyson.anderson@state.co.us)
Prior Grant Agreement
Expiration Date
March 31, 2024
Current Grant Agreement
Expiration Date
March 31, 2024
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Rick M. Garcia, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Beulah Messick, Controller Delegate
Effective Date: ___________________
DocuSign Envelope ID: DA274172-D4B8-4BCC-AF74-675DF229ABF2
CDBG-OEDIT
10/26/2023 | 4:03 PM MDT
CTGG1 NLAA 202000002837
10/30/2023 | 4:57 PM MDT
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 2
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
c. Change in the number of FTE jobs created/retained within current term (use this option for
changes to the number of jobs in Exh B Subsection 3.2.1)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. Reserved for use with Option 1(a).
b. For use with Option 1(b): In accordance with Section 7(A)(i) of the original Intergovernmental Grant
Agreement between the State of Colorado, acting by and through the Colorado Department of Local Affairs, and
Eagle County Government, the State hereby exercises its option to increase Grant Funds awarded for this Project
in an amount equal to $1,392,000, from $3,767,898 to $5,159,898. The Grant Award Amount shown on the
Summary of Terms and Conditions page of this Intergovernmental Grant Agreement is hereby changed to
$5,159,898. The Paymen Schedule in Section 5.1 and the Budget table in Section 7, both of Exhibit B, are deleted
and replaced with the following:
Payment Amount
Interim or Final Payment(s) $5,159,898 Paid upon receipt of required supporting documentation
and written requests from the Grantee for eligible and
approved projects or activities.
Total $5,159,898
Budget Line(s) Previous
Grant
Amount
OL#5
change
(incr/decr)
New Total
Grant
Funds
Other Funds Total
Project
Cost
Other
Funds
Source Line
#
Cost Category
1 CD1984 Business Financial
Assistance
$500,000 $0 $500,000 $1,756,000 $2,256,000 Leverage
Sources
2 CD1984 Administration $90,000 $0 $90,000 $160,000 $250,000 Sub-grantee
3 CD9101 Business Financial
Assistance CV Supplemental
Funds
$2,226,898 $0 $2,226,898 $0 $2,226,898
4 CD9101 Administration CV
Supplemental Funds
$368,000 $0 $368,000 $0 $368,000
5 CD2086 Business Financial
Assistance
$378,000 $0 $378,000 $0 $378,000
6 CD2086 Administration $72,000 $0 $72,000 $0 $72,000
7 CD1984 Business Financial
Assistance
$133,000 $0 $133,000 $0 $133,000
8 CD2281 Business Financial
Assistance Supplemental Funds -
OL#5
$0 $1,200,000 $1,200,000 $2,400,000 $3,600,000 Leverage
Sources
9 CD2281 Administration
Supplemental Funds - OL#5
$0 $192,000 $192,000 $96,000 $288,000 Sub-grantee
Total $3,767,898 $1,392,000 $5,159,898 $4,412,000 $9,571,898
c. For use with Option 1(c): The first sentence of §3.2.1 in Exhibit B is deleted and replaced with the following:
“If the National Obejctive described in §3.3.1 below is checked, the Grantee commits that at least one hundred
seventy (170) full-time equivalent permanent jobs will be directly created.”
3) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or October 17, 2023,
whichever is later.
DocuSign Envelope ID: DA274172-D4B8-4BCC-AF74-675DF229ABF2Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 2
OPTION LETTER #6
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs (DOLA)
DLG Number
F20CDBG20630
Option Letter CMS
Number
189566
Grantee
Eagle County Government
Previous CMS #(s)
154797, 171490, 172945, 177403, 186441, 187285
Project Number and Name
CDBG 20-630 – Eagle County BLF
Grant Amount
Initial Award: $580,000.00
Option Letter #1 09/21/2021: $149,898.00
Option Letter #2 01/13/2022: $950,000.00
Option Letter #3 07/28/2022: $580,000.00
Option Letter #4 09/11/2023: $1,508,000.00
Option Letter #5 10/30/2023: $1,392,000.00
Option Letter #6 03/05/2024: $0.00
Total Grant Amount: $5,159,898.00
DOLA Program Manager
James Spiers, CDBG Business Manager,
(720) 892-8307, (james.spiers@state.co.us)
Prior Grant Agreement
Expiration Date
March 31, 2024
Current Grant Agreement
Expiration Date
November 30, 2024
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Maria De Cambra, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Beulah Messick, Controller Delegate
Effective Date: ___________________
DocuSign Envelope ID: 396FC1D7-1BD3-4236-814F-CFE7D77F3801
CDBG
3/11/2024 | 12:58 PM MDT
CTGG1 NLAA 202400003231
3/11/2024 | 7:52 PM MDT
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 2
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
c. Change in the number of FTE jobs created/retained within current term (use this option for
changes to the number of jobs in Exh B Subsection 3.2.1)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. For use with Option 1(a): In accordance with Section 2(A) of the original Intergovernmental Grant Agreement
between the State of Colorado, acting by and through the Colorado Department of Local Affairs, and Eagle
County Government, the State hereby exercises its option for an additional term beginning April 01, 2024 and
ending on November 30, 2024.
b. Reserved for use with Option 1(b).
c. Reserved for use with Option 1(c).
3) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or March 05, 2024,
whichever is later.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
DocuSign Envelope ID: 396FC1D7-1BD3-4236-814F-CFE7D77F3801Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 1 of 2
OPTION LETTER #7
SIGNATURE AND COVER PAGE
State Agency
Department of Local Affairs (DOLA)
DLG Number
F20CDBG20630
Option Letter CMS
Number
194505
Grantee
Eagle County Government
Previous CMS #(s)
154797, 171490, 172945, 177403, 186441, 187285, 189566
Project Number and Name
CDBG 20-630 – Eagle County BLF
Grant Amount
Initial Award: $580,000.00
Option Letter #1 09/21/2021: $149,898.00
Option Letter #2 01/13/2022: $950,000.00
Option Letter #3 07/28/2022: $580,000.00
Option Letter #4 09/11/2023: $1,508,000.00
Option Letter #5 10/30/2023: $1,392,000.00
Option Letter #6 03/11/2024: $0.00
Option Letter #7 10/09/2024: $0.00
Total Grant Amount: $5,159,898.00
DOLA Program Manager
Robyn Berkey, (720) 315-1526,
(robyn.berkey@state.co.us)
Prior Grant Agreement
Expiration Date
November 30, 2024
Current Grant Agreement
Expiration Date
March 17, 2025
THE PARTIES HERETO HAVE EXECUTED THIS OPTION LETTER
Each person signing this Option Letter represents and warrants that he or she is duly authorized to execute this
Option Letter and to bind the Party authorizing his or her signature.
STATE OF COLORADO
Jared S. Polis GOVERNOR
Colorado Department of Local Affairs
By: ____________________________________
Maria De Cambra, Executive Director
Date: ___________________
ALL CONTRACTS REQUIRE APPROVAL BY THE STATE CONTROLLER
CRS §24-30-202 requires the State Controller to approve all State contracts. This Option Letter is not valid until signed and
dated below by the State Controller or delegate.
STATE CONTROLLER
Robert Jaros, CPA, MBA, JD
By: ____________________________________
Beulah Messick, Controller Delegate
Effective Date: ___________________
Docusign Envelope ID: 77CF3CE1-EA93-4621-9A71-4987A039C24A
CDBG
10/26/2024 | 1:37 PM MDT
CTGG1 NLAA 202000002837
10/29/2024 | 8:54 PM MDT
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
CDBG 20-630 – Eagle County BLF
Page 2 of 2
1) OPTIONS: Choose all applicable options listed in §1 and in §2
a. Option to extend (use this option for Extension of Time)
b. Change in the Grant Award Amount within the current term (use this option for an Increase or
Decrease in Grant Funds, including Supplemental funding awards)
c. Change in the number of FTE jobs created/retained within current term (use this option for changes
to the number of jobs in Exh B Subsection 3.2.1)
2) REQUIRED PROVISIONS. All Option Letters shall contain the appropriate provisions set forth below:
a. For use with Option 1(a): In accordance with Section 2(A) of the original Intergovernmental Grant Agreement
between the State of Colorado, acting by and through the Colorado Department of Local Affairs, and Eagle
County Government, the State hereby exercises its option for an additional term beginning December 01, 2024
and ending on March 17, 2025.
b. Reserved for use with Option 1(b).
c. Reserved for use with Option 1(c).
3) Effective Date. The effective date of this Option Letter is upon approval of the State Controller or October 09, 2024,
whichever is later.
THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK
Docusign Envelope ID: 77CF3CE1-EA93-4621-9A71-4987A039C24ADocusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
7
EXHIBIT B – Northwest Loan Fund Loan Policy
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Revision Date: April 2022
LOAN POLICY
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
2
Contents
DEFINITIONS
OBJECTIVES
SOURCES OF FUNDS
USE OF FUNDS
INELIGIBLE USE OF FUNDS
LOAN COMMITTEE
CONFLICT OF INTEREST
LOAN APPROVAL
LOAN UNDERWRITING GUIDELINES
LOAN APPLICATION PACKAGE
CONFIDENTIALITY
LOAN SERVICING
DEFAULT PROCEDUR ES
ALLOWANCE FOR LOAN LOSS RESERVE
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
3
DEFINITIONS
Board shall refer to the Region 12 Revolving Loan Fund Corporation (R12 RLFC ) dba Northwest Loan
Fund (NLF) Board of Directors which is one and the same with the Northwest Colorado Council of
Governments (NWCCOG) Council.
Approve(d) shall mean:
(a) approve loans and loan structure for submission for approval of Community Development Block
Grant (CDBG) Manager or Federal Review Committee (FRC) under the Open Grant Contract and,
(b) approve loans and loan structure of loans made with State OEDIT or Revolved Funds.
Open Contract shall refer to funds directly from the CDBG and its Micro-Enterprise Program (MEP).
Revolved Funds shall refer to funds that have been repaid from a CDBG Open Contract .
NLF Director shall refer to the only staff member of the 501c6 doing business as Northwest Loan Fund.
The NLF Director has the education and experience to recommend loan approvals.
OBJECTIVES
The main objectives of the NLF are to:
• Improve the economic base of and/or bring new wealth into the nine Northwest Colorado
Counties by providing loans to businesses that will create or retain jobs (CDBG – at least 51% of
the jobs are to be persons from low to moderate family income households (LMI)).
• Provide access to capital for business acquisition, expansion, or start-up
• Bring a value-added product or fill a niche in the local economy not currently being filled .
• Bring revenue from outside the 9 Northwest counties.
• Encourage financial and economic self-sufficiency of business clients toward eventual move to
traditional sources.
SOURCES OF FUNDING
The NLF is funded by the following sources:
• Community Development Block Grant (CDBG)
• Community Development Block Grant (CDBG)-Micro-Enterprise
Loan Program – Loans $100,000 or under (MEP)
• State of Colorado OEDIT Funds
• Revolved Funds (Funds repaid)
• Other Funds, as appropriate (example: U.S.D.A.)
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
4
LOAN FUNDS MAY BE USED FOR THE FOLLOWING PURPOSES:
• Business assets
o Equipment/machinery/other fixed assets
o Furniture & Fixtures
o Inventory
o Raw materials
o Purchase of existing business
o Business occupied building purchase
o Construction of new facility
• Working Capital
o Payroll
o Accounts Receivable financing
• Equity Participation in exchange for business shares or royalty payments
LOAN FUNDS MAY NOT BE USED FOR:
• Pyramid or Networking Sales Enterprises
• Gambling or gaming operations
• Real Estate development
• Land purchase
• Franchises (with funds procured through CDBG)
• Production agriculture
• Marijuana related businesses until Federally legalized
LOAN COMMITTEE (LC)
LC Duties
The Loan Committee (LC) shall review loan package and recommendations as presented by the NLF
Director and approve, modify structure or decline such loans . Approved loans may require further
approval of the CDBG Manager, FRC or State OEDIT Funds Manager.
LC Composition
The Loan Committee (LC) includes, as available, one representative from each of the nine participating
counties in addition to the NWCCOG Executive Director, who shall serve as an Ex-Officio Member. Of the
nine county representatives, it is preferred that at least two members have a background in business, at
least one member have experience in making business loans and at least one member have an accounting
or legal background. If a member with one of these qualifications cannot be recruited from a County, it is
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
5
acceptable to recruit from a neighboring County. The NLF LC members shall be approved by the NLF
Board and shall serve in an advisory capacity in accordance with the operating guidelines, bylaws, and
Loan Policy as approved by the NLF Board.
LC Term
It is preferable that all LC members serve at least a one-year term, noting there is no limit to the number
of terms a committee person may serve. The LC committee shall appoint a chair and vice-chair from
among the members.
LC Meetings and Attendance
Meetings may be attended in person or by telephone or video conferencing. Meetings will be scheduled
for one time per month and additional meetings may be convened as needed. Scheduled meetings will be
conducted by the Chairperson or may be convened with non-simultaneous email votes.
All LC packets, recommendations and attachments shall be sent via confidential email; with the intent of
being received one week prior to the meeting ; however, given the unpredictable nature of loans, the time
frame for review may be more or less in any given month. It is the intent that minutes be distributed, to
members not in attendance, as soon as possible after a meeting; members in attendance have requested
not to receive minutes. All LC members should participate in at least 50% of meetings with votes cast via
email constituting attendance.
LC Quorum
A quorum shall consist of a simple majority of the members of the LC.
Votes must be documented in LC meeting minutes, specifically denoting whether a vote has been made in
person or via email. All records of email mail votes must be maintained in an electronic file.
If any loan receives two or more objections by LC members, the loan will have to be reintroduced on a
future meeting agenda.
CONFLICT OF INTEREST
Definition
A conflict of interest may arise if a LC member has advised, approved, recommended or otherwise
participated in the business decisions of the loan recipient . This could include engaging in such roles as
agents, advisors, consultants, attorneys, accountants or shareholders.
Disclosure
A verbal disclosure is required of any conflict of interest with a borrower, guarantor or other party to the
transaction and such conflicts must be reported to the NLF Board . Once the conflict has been recognized,
the LC member is prohibited from voting, making a motion or taking any other form of action with regard
to the loan in question.
LOAN APPROVAL
Loans under $30,000.00 may be approved by the LC member in the county in which the business is
located as well as two additional members. All other loans, upon recommendation of the NLF Director,
require a quorum (as defined within this policy). All votes will be documented by roll call or emails of LC
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
6
members. All votes made by email must be forwarded to the LC Chairperson. Once a loan has been
approved it will be reported to the Board/NWCCOG Council at regularly scheduled meeting via the
Portfolio Report.
Emergency/Disaster circumstances:
In the event of an unforeseen act within the county, state, or nation, such as a natural disaster, strike,
terrorist attack or any other circumstances beyond the control of the NLF, which may make it difficult to
adhere to the requirements as outlined in this policy, the NLF Director may undertake the following
discretionary actions:
• Adjust loan interest rates, for clients, to between zero and two percent with the consent of three
LC members, temporarily for up to 12 months. .
• Request changes to the NLF policy in which Board action will be taken by non-simultaneous email
votes.
• Conduct site visits via online video conferencing or any other means necessary to appropriately
evaluate a business when an actual site visit is not feasible given the circumstances.
LOAN UNDERWRITING GUIDELINES
1. The minimum loan amount is $5,000.00.
2. The term may vary based on use of funds and collateral but not to exceed 10 years.
3. Interest rates and fees will vary based on loan size and risk.
4. Costs related to closing will be paid by the borrower.
5. All loans will be collateralized by all business assets.
6. Personal guarantees, of individuals with 20% or more ownership, will be required.
7. The NLF Director will make a site visit prior to presenting the loan to LC (any exceptions will be
documented and noted by LC). In the event of a county, state or national disaster, site visits will be
at the discretion of the NLF Director. Upon the decision, by the NLF Director, to present the loan
for LC approval, LC members are encouraged to make a group site visit. In particular the member
from the county in which the prospect is located, is encouraged to make a site visit. Should the LC
Member from the county be unable to do a site visit, it is permissible for a LC Member from
another county to do the site visit.
8. Monthly payments of principal and interest are the norm; adjustments will be made for seasonal
businesses.
THE FIVE C’s – Character, Capacity, Collateral, Capital & Credit
It is intended that NLF loan analysis be more reliant on Character, Capacity and Collateral, than on
Credit.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
7
The following CHECKLIST is revised from time to time and posted at www.NorthwestLoanFund.org
NORTHWEST LOAN FUND LOAN APPLICATION PACKAGE CHECKLIST
1 • NLF Application Summary
2 • Business Plan (include: History, Company Description, Products and Services, Marketing
Plan & Competition, Management of key functions & Resumes, Suppliers & Terms) –
Please send in a Word document .
3 • Projections: (Resources and helpful links )
• Cash Flow projections, with explanation of assumptions, by month for 1 st year, then by
quarter
• Profit/Loss projections, with explanation of assumptions, by month for 1 st year, then by
quarter
• Breakeven (Sales required to cover costs)
• Estimate your payment- Interest Rate is: Prime + 2%
4 • Business Financial Statements* (BFS) Balance Sheets & Profit and Loss Statements
including most recent month end
5 • Business Tax Returns * (BTR) April or after, include prior year end
6 • List of Business collateral:
• Equipment (Description, Age, Condition, Value)
• Equipment to be purchased – contracts or bids
• Inventory (Description, Value)
• Accounts Receivable (Customer, Invoice Date)
7 • Personal financial statement (PFS) (current within 60 days) for any owner of 20% or
more. Include all schedules & K-1’s. (Sample)
8 • Personal Tax Returns* (PTR) for ownership of 20% or more
9 • Articles of Formation or Incorporation, by -laws, trade name affidavit or franchise
agreement
10 • Copy of Lease
11 • For Real Estate collateral (business or home): Copy of Owners Title Policy or Warranty
Deed, Appraisal if available, Environmental review if available
12 • Copy of commitment letters from other financing sources
13 • For Business Acquisitions – Contract detailing what is being purchased at what price
14 • Other information as requested
Note from Director - Business Lending:
• Please send all items on the checklist at one time and send any attachments in the same order as
denoted in the checklist.
*Three years PTR, BTR, BFS, all signed and dated unless business life is less than 3 years.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
8
CONFIDENTIALITY
Confidentiality is of the utmost importance. Any breach of confidentiality could result in legal action. All
financial information received, with regards to the business entity and its owners, will be kept
confidential and packets distributed to the LC will be sent via confidential email. LC members, COG Staff
and other individuals privy to the names of businesses, amounts of loans, status of loans etc. will sign a
Confidentiality/Conflict of Interest Agreement. Borrowers will be informed of this with the initial loan
package. Upon approval of both the NLF Director and the client, once a story has been published, only the
information in the story is public. Other than in recommendations to the 9 voting LC Members, the CDBG
Manager or COG staff assisting in loan disbursements, names of the businesses and owners are never
connected to the amounts; the names and number of the jobs are never connected and amounts by
county are never published. Due to the confidential nature of NLF information, publication of any kind
(stories, emails, marketing, etc) and any general information about the loan fund must receive final
approval of the NLF Director before being disseminated. In the case that no one holds the position of NLF
Director, the CDBG Manager shall have final approval.
A Telecommuting agreement signed by Anita Cameron provides for security of confidential information
during travel/off site work. Secure print will be used to protect confidential documents. Security for
laptop and smartphone are set on ‘high’.
Laptop and smartphone access will be protected by Passwords and Log Off and such Passwords will be
changed at least quarterly. For NLF Director Internet access, a mobile hot spot is used. Public wifi is never
used. Moreover, Social Security numbers will be blacked unless it is essential for the recipient to see such
information.
CLOSING DOCUMENTATION
The closing documentation checklist (Exhibit B) will be utilized at the loan closing. The NLF Director shall
confirm that each item on the checklist is either available by initialing the “have” column or needed by
marking the “need” column. When available, an additional person will also review all items listed on the
checklist and confirm documentation by initialing the “have” or “need” columns as well.
LOAN SERVICING
It is the goal of the NLF to maintain contact with each loanee, preferably via an in-person site visit.
Updates on clients per phone conversations or visits as presented to LC will become part of LC Minutes.
DEFAULT PROCEDURES
Loans delinquent 30 days or more are generally reported to the LC on a monthly basis and the Board on a
bi-monthly basis via Portfolio Report with comments or collection actions.
The Director is authorized to offer a Loan Modification/Extension agreement as needed to keep the
business operating and to avoid costly legal action. Modifications/Deferrals will be reported to the LC
and Board. Where possible, accrued interest will be collected extending any loan payments.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Northwest Loan Fund Loan Policy
9
After period of appropriate collection activities, a recommendation may be made to place a loan on non-
accrual or to write off the balance. , may be made by the NLF The checklist should be Director or LC, and
acknowledged by the Board.
ALLOWANCE FOR LOAN LOSS RESERVE
The NLF will maintain an Allowance for Loan Loss (ALL) as an estimate of potential loan losses as a
footnote to NLF Loans Receivable. A Colorado Housing and Finance Authority (CHFA) Credit Reserve
(CCR) Account may be used as ALL and reported as a footnote to NLF Loans Receivable.
Each loan will be graded and a percentage allowance set aside for each risk class. Loan grading will be
updated semi-annually with loan grades reported to the Board via Risk Rating Report.
Loan Grades and percentage reserve:
LOAN GRADE GUIDING DESCRIPTION % OF LOAN BALANCE IN ALLOWANCE FOR LOAN LOSS
Satisfactory
Performing As Agreed and well secured
1%
Watch
New Loans - Non Real Estate secured
10%
Substandard
Issue with performance
30%
Doubtful
Concern for full collection
60%
Foreclosure
Foreclosure
80%
Probable Loss
Probable Loss-keep on reports until Charge-Off
100%
Exhibit A:
The NLF serves all communities in Eagle, Garfield, Grand, Jackson, Moffat, Pitkin, Rio Blanco, Routt
and Summit Counties
Exhibit B
Loan Policy includes Exhibit B Documentation Checklist 2019 Electronic Version. See page 7 above.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
8
EXHIBIT C – Bylaws
Region 12 Revolving Loan Fund d/b/a Northwest Loan Fund
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
BYLAWS OF THE REGION 12
REVOLVING LOAN FUND CORPORATION
ARTICLE I Definitions
NLF shall refer to the Region 12 Revolving Loan Fund Corporation (Corporation) dba
Northwest Loan Fund (NLF)
Open Contract shall refer to funds directly from the Community Development Block Grant
(CDBG) Business Loan Fund Program (BLF) and its Micro-Enterprise Program (MEP)
Revolved Funds shall refer to funds that have been repaid from a CDBG Open Contract
ARTICLE II Membership
Section 1. NLF membership shall be Garfield, Grand, Eagle, Jackson, Moffat, Pitkin, Rio
Blanco, Routt and Summit Counties of Colorado and the municipalities therein.
Section 2. Voting and quorum procedures shall be the same as those followed by the
Northwest Colorado Council of Governments (NWCCOG).
ARTICLE III Offices and Registration
NLF may maintain such offices as the Board of Directors may designate and the principal
office shall be located in one of the nine member counties.
The Corporation shall have and continuously maintain in the State of Colorado, a registered
agent and office.
ARTICLE IV Meetings
Section 1. The annual meeting of the NLF shall be held in conjunction with the first regular
scheduled meeting of NWCCOG each calendar year.
Section 2. Special meetings may be called by the Chairman of the Board of Directors or by
at least four (4) members of the Board of Directors.
ARTICLE V Board of Directors
The Board of Directors (Board) shall be the Council of the NWCCOG.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
ARTICLE VI Officers and Executive Committee
Section 1. Officers. The Chairperson, the Vice-Chairperson, the Secretary/
Treasurer and the Executive Committee shall be the same persons as those serving in these
positions for the NWCCOG.
Section 2. The Chairperson. The Chairperson shall preside over meetings of the
Board.
Section 3. The Vice-Chairperson. The Vice-Chairperson shall preside over
meetings of the Board in the absence of the Chairperson.
Section 4. Secretary. The Secretary shall be the custodian of the Corporation’s
records and seal and perform such other duties as from time to time may be assigned by the
Chairperson, the Executive Committee, or the Board.
ARTICLE VII Administration
The Executive Director of NWCCOG shall supervise the employees and business affairs of the
NLF.
ARTICLE VIII Finances, Contracts and Funds
Section 1. Budget. The Board shall adopt the budget at the annual meeting.
Section 2. Contracts. The Board or Executive Committee may authorize the
Chairperson or Executive Director to enter into any contract or execute and deliver any
instrument on behalf of the Corporation.
Section 3. Disbursements. All checks, drafts or orders for payment of money,
notes or other evidences of indebtedness issued in the name of the Corporation, shall be
signed by the Officers of the Board.
Section 4. Deposits. All funds of the NLF shall be deposited to the credit of the
Corporation in such banks, trust companies, or other depositories as the Board may select.
Section 5. Gifts and Grants. The Board may accept on behalf of the Corporation
any contribution, gift, grant, loan or bequest for general purposes or for any special purpose of
the Corporation.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
ARTICLE IX Loan Committee (LC)
Section 1. Appointment and Composition. The Board shall appoint a Loan
Committee (LC) comprising one member from each county, as available, served by the NLF.
Preference shall be given to people with experience in business loan making, business law,
commercial real estate, and business ownership. The Executive Director of NWCCOG shall be
an ex-officio, non-voting member of the LC.
Section 2. Duties. The LC shall (a) recommend approval of loans and loan structure
to the Colorado Office of Economic Development and International Trade (OEDIT) for approval
under the Open Grant contract and (b) approve loans and loan structure of loans made with
Revolved Funds.
ARTICLE X Fiscal Year
The fiscal year of the Corporation shall begin on January 1, and end on December 31 of each
year.
ARTICLE XI Dissolution
Section 1. Trustee. Dissolution of the Corporation shall be by resolution of the
Board adopted by two-thirds of its membership. In the event of such dissolution, the Board
shall be Trustees for the liquidation or other disposition of the Corporation property and assets.
The proceeds of any liquidation and all funds remaining on hand after the payment of all
obligations shall be deposited with NWCCOG.
Section 2. Distribution of Assets When all of the property and assets of the
Corporation have been disposed of as required by law and its funds deposited, the functions
and duties of the Corporation shall cease. All funds then in the hands of the NWCCOG shall be
distributed to the general purpose units of local government in the same proportion as
contributed by them, during the calendar year preceding the dissolution of the Board, after
payment of all debts and liabilities of the Corporation. Funds not contributed by local
government during the preceding calendar year shall become the property of the NWCCOG.
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Exhibit A
Northwest Loan Fund - Communities Served
Eagle
Avon
Basalt
Eagle
Eagle-Vail
Edwards
El Jebel
Gypsum
Minturn
Red Cliff
Vail
Garfield
Battlement Mesa
Carbondale
Glenwood Springs
New Castle
Parachute
Rifle
Silt
Grand
Fraser
Granby
Grand Lake
Hot Sulphur Springs
Kremling
Winter Park
Jackson
Walden
Moffat
Craig
Dinosaur
Maybell
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D
Page 2
Northwest Loan Fund - Communities Served
Pitkin
Ashcroft
Aspen
Basalt
Meredith
Redstone
Snowmass
Snowmass Village
Woody Creek
Rio Blanco
Meeker
Rangely
Rio Blanco
Routt
Clark
Hayden
Oak Creek
Steamboat Springs
Yampa
Phippsburg
Toponas
Summit
Blue River
Breckenridge
Dillon
Dyersville
Frisco
Heeney
Keystone
Montezuma
Silverthorne
Docusign Envelope ID: 0C0CC079-29BC-431A-B4D4-58B0F96BE85D