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LETTER OF AGREEMENT <br /> <br /> between <br /> <br />Commuity Development Corporation of Lakewood <br /> and the <br /> <br />City of Lakewood <br /> <br />RE: Rehab Specialists <br /> <br />The City qf Lakewood agrees to engage three (3) Rehab SpeCialists <br />and t© assign these full time personnel to the Community Development <br />Corporation to administer several on-going activities such as: Low <br />Interest Home Improvement Loan <br /> Program; Target Area Loan Program; <br />Purchase and Rehab program; Operation Paint program; Rental <br />Restoration program; and others. <br /> <br />The Community Development Corporation (CDC) agrees to reimburse the <br />City of Lakewood for all costs associated with employment such as <br />salaries, fringe benefits, and car allowances in accordance with the <br />Ci~.y of Lakewood's personnel policies and procedures. First year <br />estimates are: <br /> <br /> Salaries <br /> Benefits <br /> Car Allowance <br /> Attendance <br /> Total <br />The CDC shall provide supervision, <br />equipment for this purpose. <br /> <br />$ 82,296 <br /> 25,000 <br /> 4,500 <br /> 1o 200 <br /> <br />suitable office <br /> <br />space, and <br /> <br />The City of Lakewood is to invoice the CDC on a monthly basis, and <br />the CDC is to reimburse actual City costs within thirty (30) days of <br />receipt of the invoice. <br /> <br />COMMUNITY DEVELOPMENT CORPORATION <br /> OF LAKEWOOD <br /> <br />CITY OF LAKEWOOD <br /> <br />Mary Louise Nixon, chairman <br />Date <br /> <br />David R. HarDarger, Mayor <br />Date <br /> <br />The legal form and correctness of the within document is hereby <br />approved: <br /> <br />Michael E. Mu~man, Law Director <br /> <br />I hereby certify that there is money to the credit of the proper <br />fund to meet the above expense: <br /> <br />EXHIBIT <br /> <br />Gale W. FisK, Finance Director <br /> <br /> <br />