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Home My WebLink AboutContract 52530-A2 i v� CITY SECRETARY ..3 7ozo C�:�t+��RACT ran. 5��.— a-� CIIySECC �Yry SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO. 52530 Between the City of Fort Worth and Housing Channel This Amendment("Amendment") is entered into by and between the City of Fort Worth("City') and the Housing Channel ("Developer") by and through their respective duly authorized agents. City and Developer may be referred to individually as "Party"and collectively as"Parties." WHEREAS, City and Developer made and entered into City Secretary Contract No. 52530 ("Contract")on JLily 16,2019; WHEREAS, the Contract provides funding to Developer pursuant to a grant received by City from the United States Department of Housing and Urban Development ("HUD") through the HOME Investment Partnerships Program("HOME"), Catalog of Federal Domestic Assistance No. 14.239; WHEREAS, the Contract was previously amended by letter agreement on September 25,2020, to address changes in the City's policy to allow for Developer to keep sales proceeds to use forfuture affordable housing development in the city;and WHEREAS, further amendment is necessary to ensure compliance with the HOME regulations and to effectuate the agreement of the Parties. NOW ORE; the Parties agree to amend the following portions of the Contract: 1. A. Exhibit "B" Budget attached to the Contract, as amended, is hereby amended and replaced in its entirety with EXHIBIT "B" Budget, attached hereto. B. Exhibit "C" Project and Reimbursement Schedule attached to the Contract, as amended,is hereby amended and replaced in its entirety with EXHIBIT "C" Project and Reimbursement Schedule, attached hereto. 11. 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 the meanings assigned to them in the Contract. III. This Amendment shall be binding upon execution by both Parties and shall have an effective date of December 7, 2020. [SIGNATURES APPEAR ON FOLLOWING PAGE] UV SECRE R I Amendment No. 2 to CSCNo. 52530 Page I J CHDO Agreement-Housing Channel 217 Paradise ACCEPTIM AND AGR+El : HOUSING CHANNEL CITY OF FORT WORTH '6-W-11xa I�GI/?N�lJ �� Donna VanNess(Dec 1,2020/353 CST) f - .� .;a.•4,/`e�, q ,i �/ Fernando Costa(Dec 2,202016:24 CST) Donna VanNess,President ` Fernando Costa,Assistant City Manager ATTEST: ' ,: 1_y APPROVE AS TO FORM AND -LEGALITY: a� By. By: Jo Pate(De 2. 20 14:57 CST) ity ecretary �1 Jo Ann Pate,Assistant City Attorney M C:C-29138 U Ordinance No.24161-04-2020 Recommended: By: Victor Turner, Director CONTRACT COMPLIANCE MANAGER: By signing, I acknowledge that I am the person responsible for the monitoring and administration of this contract,including ensuring all performance and reporting requirements f-, 9i7- Chad Lagoque(Dec 2,202014:43 CST) i AMU Amendment No. 2 to CSC No. 52530 CM SORt��rA6R`lvi ' CHDO Agreement—Housing Channel 217 Paradise Sr WORTMI i `t EXHIBIT"B" BUDGET HOUSING CHANNEL 217 Paradise Total Cost: $ 219,442 Project HOME Funds Awarded: $86,892 HOME Funds will be paid only as reimbursement for eligible expenses. Development Budget Use of Funds Source of Funds Predevelopment Cost HOME$ OTHER$ SOURCEOFOTHER TOTAL$ FUNDS FUNDS FUNDS FUNDS (1) (2) (Names) (1+2) I.Market Study 2.Feasibility(i.e.:preliminary work write- up,cost estimates,design,bond, Environmental Studies) 3,530 3.Other:HUD Noise Study 500 Total Predevelopment Cost(1+2=3) 4,030 4,030 Development Cost 4.Land and/or building acquisition 20,177 20,177 5.Soft Costs(Utilities,Security,etc.) 1,287 1,287 6.Construction Cost 30,300 121,200 Happy State Bank 151,500 7.Fence 8.Landscape 9.Contingency 10.Appraisal 195 Proceeds 195 11.Architect&Engineering Fees 173 Proceeds 173 12.Construction Management Fee/ Developer Fee 13.Construction Loan Interest 2,475 2,475 14.Property Survey 15.Legal Fees 16.Real Estate Fees 10,830 Proceeds 10,830 17.Utility Hookup/Impact Fees 18.Title&RecordingFees 152 Proceeds 152 19.Program and Related Eq)cnses 20.Construction Management 21.Bond Fees Total Development Cost 58,269 132,550 190,819 22.Developer Fee(15%of Total Development Costs) 28,623 28,623 Total Cost 86,892 132,550 219,442 CHDO S INGLE FAMILY CONTRACT Riverside LrFill Project Housing Channel—217 Paradise Street Rev 10/29/2020 EXU"fr"C" PROJECT AND REIMBURSEMENT SCHEDULE HOUSING CHANNEL 217 Paradise Street Phase Activity, Beginning Week—subject to weather permitting PHASE I ACTIVITIES: Contract signed Land and/or Building Acquisition PHASE I DEADLINE: 10/15/19 1 s t Pa ment* $22,177 PHA SE IIACTIVHTES: Site Preparation Architectural&Engineering Fees Appraisal,Bond,Market Study Construction costs PHASE II DEADLINE: 1 st Payment* $33 830 10/15/19 PHA SE III A CTIVIITES: Constnlction costs Soft costs (utilities,security) PHASE III DEADLINE: 2nd payment* $4,262 7/31/20 PHASEIVACTIVITIES: Construction loan interest Soft costs (utilities,security) Developer Fee PHASE W DEADLINE: FINAL PAYMENT"NT** $28,623 12/31/20 CONSTRUCTION TOTAL $58,269 DEVELOPER FEE Paid after closing of sale to HOME $28 623 Eli ible Buyer per Section 7.8* ' 'Developer will be reimbursed for eligible expenses only. All mnounts are estimates and are subject to change. ##Ex hibit"G"-HOME Project Compliance Report must be submitted prior to reimbursement for Construction Final Payment, Constniction Final Payment will not be made af[er closing ofsale to the Eligible HOME Buyer. CI1DO SINGLE FAMILY CONTRACT Riverside Street Infill Project Housing Channel—217 Paradise Rev 11/23/2020