Dev Fund and Preserve of Historic (B) 71592: SLDC Administration 21-SLFRF-99

This subrecipient agreement between the City's Community Development Administration and the St. Louis Development Corporation (SLDC), funds SLDC's administration of over a dozen SLFRF funded projects. CDA & SLDC have entered into more than a dozen subrecipient agreements governing the deployment of over $100M in SLFRF funds. In order to simplify administration, the budgets set forth in programmatic subrecipient agreements do not include administrative costs, which have instead been consolidated into a single administrative agreement. Under this agreement, SLDC, a 501(c)(4) nonprofit, is required to track and report administrative expenses by project, and authorized to i) serve as the agent to administer SLFRF funded programs passed through CDA to SLDC for housing and economic development programs ii) assign/hire appropriate staff to undertake SLFRF administration and program delivery activities contained in subrecipient agreements iii) purchase supplies, equipment and professional services needed to meet SLFRF program and activity needs; and iv) partner with for-profits and not-for-profits to achieve goals outlined in the subrecipient agreements.