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Home My WebLink AboutContract 49774-A2 CITY SECRETARY C,ot,7RACT NO. �l q-fla SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO. 49774 WHEREAS, on October 10, 2017, the CITY OF FORT WORTH ("City"), a home rule municipality organized under the laws of the State of Texas, and YMCA of Metropolitan Fort Worth ("Developer"), a domestic nonprofit corporation, made and entered into City Secretary Contract No. 49774 ("the Contract") as authorized by M&C C-28031, adopted by the City Council on December 13, 2016; WHEREAS, on or about September 7, 1979, the City entered into that certain Urban Development Action Grant Agreement with the United States Department of Housing and Urban Development("HUD"), UDAG Grant.No. B-79-AA-48-0013 (the"UDAG Grant Agreement"), for use in acquiring land and constructing a parking garage located under General Worth Park in downtown Fort Worth (City Secretary Contract No. 10610), as more specifically set forth in the UDAG Grant Agreement. The City has leased the parking garage pursuant to and in accordance with that certain Lease Agreement("Parking Garage Lease") dated on or about May 22, 1980 by and between the City and Hunt Hotel/Fort Worth, Ltd. (City Secretary Contract No. 11085, as amended and assigned). Rental revenues from the Parking Garage Lease are deemed "Grant Revenues"under the UDAG Grant Agreement(the"UDAG Grant Fund Proceeds"). The UDAG Grant Agreement allows the City to use the UDAG Grant Fund Proceeds (now described by HUD as "miscellaneous revenue") for community or economic development activities eligible for assistance under Title I of the Housing and Community Development Act of 1974, 42 USC 5301 et seq., as amended (the "Act"). WHEREAS, the purpose of the Contract was to provide $500,000.00 in miscellaneous revenue for a portion of construction costs of the McDonald Southeast YMCA Center, including an aquatics center; WHEREAS, the Contract was amended on June 15, 2018 to extend the Completion Date and the Completion Deadline and to amend Exhibits "B", "F" and "G"; WHEREAS, Developer has requested a second amendment to the Completion Date and the Completion Deadline in the Contract due to weather and construction delays on the Project; WHEREAS, City also wishes to amend Exhibits "B" and "C" of the Contract and the timeframe by which the contract requirements must be met; — NOW, THEREFORE, City and Developer hereby agree as follows: O ��0o��oGQ Pay DEFINITIONS The following definitions are amended to be and read as follows: OFFICIAL RECORD CITY SECRETARY UDAG Loan Agreement/CSC No. 49774-A2 YMCA of Metropolitan Fort Worth FT. w—"Paje 1 Completion Date means that the Project is substantially complete as evidenced by (i) Exhibit "F" —Project Completion Report Revised 5/2018, and (ii) the Certificate of Occupancy issued by the City by March 31,2019. Completion Deadline means March 31, 2019. II. Section 4.2 Employment and Resident Goals is hereby amended to read and to be: Developer will use its best efforts to employ at least 20 FTE, 10 of which may be seasonal, that will be provided and filled on the Property (the "Overall Employment Goal") as follows: 4.2.1. Within the first 12 months after the Completion Date, Developer shall make reasonable efforts to employ 10 FTE for Central City Residents, 5 of which may be seasonal. 4.2.2 Within the second 12 months after the Completion Date, Developer shall make reasonable efforts to employ an additional 10 FTE for Central City Residents, 5 of which may be seasonal. 4.2.3 Within 12 months following the Completion Date, Developer shall award 50 households residing in the Columbia at Renaissance Square developments 20% off of monthly membership dues and shall maintain this throughout the Performance Period. III. Exhibit "B"—Project Summary attached to the Contract is hereby replaced with Exhibit "B"—Project Summary Revised 12/2018 attached hereto. Exhibit"C"—Reimbursement Schedule attached to the Contract is hereby replaced with Exhibit "C"—Reimbursement Schedule Revised 12/2018 attached hereto. IV. This amendment is effective as of the Effective Date of the Contract. V. All terms and conditions of the Contract not amended herein remain unaffected and in full force and effect, are binding on the Parties and are hereby ratified by the Parties. Capitalized terms not defined herein shall have meanings assigned to them in the Contract. [SIGNATURES APPEAR ON NEXT PAGE] UDAG Loan Agreement/CSC No. 49774-A2 12.14.18 YMCA of Metropolitan Fort Worth Page 2 EXECUTED to be effective as of the Effective Date: ACCEPTED AND AGREED: CITY OF FORT WORTH By: Oi� Ucrnando Costa, Assistant City Manager Date: 2,?119 APPROVED S TO F?RM AND LEGALITY: By: Jo A. 'Pate sist 6ity Attorney I ATTEST: f U. ` By: City Secret M&C: C-28 1 Date. 12/13/2016 Form 1295: 2016-138726 >` �r`'F Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensurma all performance and reporting requirements. Chad LaRoque, Housing Development and Grants Manager YMCA OFM P ITAN RT ORTH, a domestic nonprofit corporation By: Antho an,P Date: �JA OFFICIAL RECORD �iTY SECRETARY UDAG Loan Agreement/CSC No. 49774-A2 YMCA of Metropolitan Fort Worth FT' ® age EXHIBIT `B" YMCA OF METROPOLITAN FORT WORTH PROJECT SUMMARY REVISED 12/2018 Capitalized terms not defined herein shall have meanings assigned to them in the Agreement. DESCRIPTION: Developer proposes to construct a new McDonald Southeast YMCA Center, including an aquatic center, located at approximately 2701 Moresby Street. PERFORMANCE REQUIREMENTS: Invest a minimum of $13,000,000.00 in the McDonald Southeast YMCA Center, and a Certificate of Occupancy issued by March 31, 2019. Make reasonable efforts to create 20 new jobs for Central City residents by the end of the second 12 months following the Completion Date,with the following benchmarks: • For the first 12 months following the Completion Date, make reasonable efforts to create 10 new jobs for Central City residents, 5 of which may be seasonal; • For the second 12 months following the Completion Date, make reasonable efforts to create an additional 10 new jobs for Central City residents, 5 of which may be seasonal. Within 12 months following the Completion Date, award 50 households living in the Columbia at Renaissance Square developments 20% off monthly membership fees and maintain this throughout the Performance Period. SPECIFIC PURPOSE: The specific purpose of the Project is to increase programs and services in the Berry/Riverside area, such as wellness classes, gym and fitness facilities, child care, youth programs, summer camps, etc. PROJECT OBJECTIVES: The Project will benefit low-and-moderate income persons and accomplish the public purpose of furthering the United States Department of Housing and Urban Development's national objective of promoting activities that benefit low- and moderate-income persons in Southeast Fort Worth. UDAG Loan Agreement/CSC No. 49774-A2 12.14.18 YMCA of Metropolitan Fort Worth Page 4 EXHIBIT "C" YMCA OF METROPOLITAN FORT WORTH REIMBURSEMENT SCHEDULE REVISED 12/2018 Milestone Payment Amount Within 60 days of Developer's closing on other financing for the $400,000.00* Project. Within 60 days of City's acceptance of Exhibit "F" —Project $100,000.00* Completion Re ort Revised 5/2018 TOTAL LOAN AMOUNT $500,000.00* *Site preparation expenses authorized or expended by the Developer before the Effective Date are eligible for reimbursement by the City, at the City's sole discretion. No other expenses shall pre-date the Effective Date of this Contract. UDAG Loan Agreement/CSC No. 49774-A2 12.14.18 YMCA of Metropolitan Fort Worth Page 5