HomeMy WebLinkAboutexhibit1AAttachment A
TERMS AND CONDITIONS
• An initial 20% payment will be made to Provider upon receipt of the signed contract.
• An itemized invoice will be presented to the City showing the expenses covered with the
initial 20% payment before any additional funds will be disbursed by the City.
• At the time of the initial invoice and each time hereafter a projected expense report will
be provided by Provider to the City to secure prepayment for the subsequent quarter.
• 80 clients for one year for a total of 160 clients over the two-year period.
• Goals are contingent on funding availabity by the city.
• City will reimburse the provider any matched funds designated to residents of the
City for which a savings commitment agreement has been obtained and which
reasonable evidence from the financial institution demonstrates that Provider has
deposited the required reserve.
1. A copy of the client's savings commitment agreement.
2. Documentation, which demonstrates proof of the advanced deposit by
Provider.
3. A cumulative reconciliation report which details the clients activity and
fund activity.
• Provider will provide monthly summary reports to the City's William Porro or
subsequent designee selected by the City showing monthly activity (dates to be
specified).
• Official quarterly reports will be provided by Micro -Business, USA to the City's William
Porro or subsequent designee selected by the City (dates to be specified).
• The above provisions may be altered upon mutual agreement by the City and
Provider.
PSA Micro -Business USA
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