Affordable Set Aside Projects Sample Clauses

Affordable Set Aside Projects. 1. PHB shall submit to the Prosper Portland Contract Manager a monthly itemized billing for work performed as described in Agreement Section II(A). In order to receive timely payment, ▇▇▇▇▇▇▇▇ must be received no later than thirty (30) days following the close of a billing period. Interim ▇▇▇▇▇▇▇▇ may be submitted prior to the end of a billing period in order to manage cash flow at PHB. 2. Each billing shall include a Billing Detail Report in a format created and/or approved by Prosper Portland. At a minimum, each billing shall include the following information, by urban renewal area, for work performed during the billing period: a. description of the nature and cost of work accomplished; b. the names, rates and hours worked of personnel; c. disbursements to consultants, contractors and outside vendors for materials and services; d. disbursements under loan agreements, grant agreements and other financial assistance agreements and costs incurred for acquisition of real property or for environmental remediation of real property; e. certification, substantially in the form of Exhibit B attached hereto and incorporated herein by this reference, that the costs for which PHB is seeking reimbursement are eligible urban renewal costs under ORS Chapter 457; and, f. a budget versus actual report for each PHB Urban Renewal Area Fund, including Affordable Housing Set Aside Project expenditures, as well as such other documents and information as Prosper Portland may reasonably request to meet its business needs, including, but not limited to, the need to document the uses of funds for bond issuance purposes. 3. Subject to the limitations of Section VI and with respect to each urban renewal area, Prosper Portland shall reimburse the portion of the costs incurred by PHB in performing work falling with Agreement Section II(A). PHB may retain any Program Income that PHB generates in an urban renewal area. PHB and Prosper Portland may agree in writing to reimburse costs prior to the use of Program Income in urban renewal areas. PHB’s use of Program Income is subject to the restrictions set forth in Agreement Section VIII(F), below. If ▇▇▇▇▇▇▇▇ are received with incomplete information or disputed items, Prosper Portland will advise PHB in writing what specific information is missing or disputed. Prosper Portland will proceed to process payment for items not in dispute. Prosper Portland will pay ▇▇▇▇▇▇▇▇ not in dispute within 30 days of receipt of the billing from PHB.