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Home My WebLink AboutContract 44562-A3 (2)�� j. c��t ��o � `��(� 2 — � 3 - --�.�._. 4 _ THIRD AMENDM�NT TO CITY S�CRETARY CONTRACT NO. 44562 WHEREAS, on June 20, 2013, the City of Fort Worth ("City") and Tarrant County Housing Partnecship, Inc. ("Developer") made and enteced into City Seccetaiy Contract No. 44562 (the "Contract"), as authorized by the City Council in M&C C- 24714 which provided City HOME funds for the development of 3 single family houses in the Hillside-Morningside neighborhood; WHEREAS, the fiinding pcovided to Developec in the Contract was fi•om a grant received by the City fcom the United States Depactment of Housing and Ucban Development through the HOME Investment Pa��tnerships Pcogram, Catalog of Federal Domestic Assistance No. 14.239; WHEREAS, Developer is qualified as a Community Housing Development Organization or "CHDO" under the HOME Regulations; WHEREAS, Developer cequested HOME CHDO funds for the construction of a single family house located at 1333 E. Jefferson to be sold to HOME Eligible Buyers undec the terms and conditions set forth in the Contract; WHEREAS, City and Developet• executed the First Amendment to the Contract to extend the Completion Deadline and inccease the construction budget for the house; WHEREAS, once the house was completed, the amount of the Developec Fee could be determined and City and Developer executed the Second Acnendment to the Contract to amend the definition of the HOME Funds to clarify that it included the sum necessary for payment of the Developer Fee; WHEREAS, since the house is now complete and sold to a HOME Eligible Buyec, Developer has requested an amendment to the line item amounts listed in Exhibit "C" — Budget Revised 7/2014 to reflect the final expenses for the project, including the actual amounts of each line item and the� actual amounts of the seller-paid closing costs as shown on the HUD-1 Settlement Statement; WHEREAS, City and Developer have also agreed to add 10% of the seller-paid closing costs to the Developec Fee in addition to 10% of the eligible project related development costs; and WHEREAS, it is the mutual desice of City and Developer to amend the Contcact to complete the project and meet Contract objectives. NOW THEREFORE, City and Developer hereby agree as follows: � Section 2. DEFINITIONS is amended to be and read as follows: "HOME Funds means the HOME Program grant funds supplied by City to Developer under the tecros of this Contract, not to e�cceed $144,992.63. CONTRACT AMENDMENT 3 to CSC No. 4456 Tarrant County Housing Partnership, [nc. — 1333 .��$��, �E�i�R� ` R�C�IVE�I FEQ 24 P,Ni� C�p`��' `��RETAR'�' �� p�'. �IIItiRTH, TX Page 1 Rev. 02/ 10/ 15 Section 4.7 Developer Fee is amended to be and read as follows:" "Section 4.7 Developer Fee. Developei• shall receive a fee of 10% of the total eligible project related development costs actually spent to develop, construct and sell the Required Imp��ovements in accoi•dance with the tecros of this Contract. Eligible p►•oject celated development costs shall include but not be limited to development costs, constcuction costs, and seller-paid closing costs as more particulacly described in Exhibit "C" — Budget. City shall pay Developer Fee at City's sole option (i) outside of closing upon receipt fi�om Developer of an invoice showing the total amount of eligible costs spent to develop, construct and sell the Required Impi•ovements, or (ii) at closing. � Exhibit "B" — Project and Reimbursement Schedule Revised 7/2014 and Exhibit "C" — Sudget Revised 7/2014 attached to the Contract are hereby replaced with Exhibit "B" — Project and Reimbursement Schedule Revised 2/2015 and Exhibit "C" — Budget Revised 2/2015 attached hereto. III. This Amendment is effective as of the Effective Date of the Contract. IV. All othee tertns and conditions of City Seci�etary Contract No. 44562 not amended herein �•emain unaffected and in full force and effect, are binding upon the Parties, and are heceby ratifed by the Parties. Capitalized ter�ns not defined herein shall have ineanings assigned to them in the Contcact. [SIGNATURES APPEAR ON FOLLOWING PAGE] CONTRACT AMENDMENT 3 to CSC No. 44562 Page 2 Tarrant County Housing Partnership, Ina — 1333 E. Jefferson Rev. 02/10/l5 ACCEPTED AND AG � i4, ATTEST: _ ~ � „� _ � � City Secr�t�►` ' ) '� � M&C G24` 14 Date: 1 �� oaooaonoo � °o o� � a S� o� �P�o° o� '°000uuoflu 7`�xP� OF FORT WORTH BY� Lss� Fecnando Costa, Assistant City Manager APPR ED AS TO�RM D L�GALITY: r� , Vicki S. Ganske, Senioc Assistant City Attocney STATE OF TEXAS COUNTY OF TARRANT § § § This instcument was acicnowledged befoce me o � , 2015 by Fernando Costa, Assistant City Manager of the City of Fort Worth, on ehal the City of Fot�t Worth. • ` _ .-.-�-��-�=�� rv� ''"= =�--�`+�_�� DANIEIS �"�,��,, EVUNIA :`�P�l• P�b�f�: Notary Pubnc, State ot Texas otaiy Public, State of Texas 'Z' ` ' My Commisslon Explres ','';�o,��.±c July 10, 2017 '''nun,O - ---'—` � r�::��.--cr*.-�.<•�-�- .� �;.s•...a.- _a.�-_�,�--=a,-,:+•s:�,.... STATE OF TEXAS COUNTY OF TARRANT . TARRANT COUNTY HOUSING PARTNERS , exas non-pcofit orporation By: D la ess, cesi t � This inst�•ument was acknowledged before me on Q w , 2015 by Donna VanNess, President of Tarrant County Housing Partnecship, li c., a Texas non-profit corpoi•ation, acting on behalf of such co►•poration otary Public, St e of Texas p' � ��'� �� ` '�� i;UIJItIi;ULz� � i�� i�r r�ry F� f�lic S(utr of lu �as � i ! ;,, �`.ly Corni��io:ur�ii L;;pir�•s I � ``.��„'ll,;;^'�_ P,pfil 1 d, 2015 _� -�::�-;.�w . -----_-_—____—�_— "�ro.�i+s� CONTRACT AMENDMENT 3 to CSC No. 4�562 A��'�'A` ��CO�� Page 3 Tarcant County Housing Partnership, Inc. — 1333 E. Jeff'erson Rev. 02/10/15 �i�� ECRE1'ARl� �'T'.1hhL�RTH, T)( EXHIBIT "B" PROJECT AND REIMBURSEMENT SCHEDULE REVISED 2/2015 TARRANT COUNTY HOUSING PARTNERSHIP, INC. 1333 E. Jefferson Phase Activity �eginning Week — subject to weather ermittin PHASE I ACTIVITIES: Conh•act signed Land and/o�• Building Acquisition Survey PHASE I DEADLINE: $2,037.00 Au ust 7, 2013 lst Pa ment* PHASE tI ACTIVIITES: Site Preparation Architectural & Engineering Fees Landscaping Construction costs PHASE II DEADLINE: 2°� paymentX $61,716.93x Se tember 18, 2013 PHASE 11I ACTIVIITES: Site Prepai•ation Architectural & Engineering Fees Construction Costs & Fence Utility hookup/Impact fees PHASE III DEADLINE: 3"� Paymentx $36,888.30* June 30, 2014 PHASE IV ACTIVIITES: Consh•uction costs Utility hookup/Impact fees PHASE IV DEADLINE: 4r" payment* $1G,706.84X Au ust 30, 2014 PHASE V ACTIVITIES: Utility hookup/Impact fees Architecttiral & Engineering Fees Landscaping Construction Costs & Fence PHASE V DEADLINE: FINAL PAYMENTX $7,973.11 X Se tember 30, 2014 CONSTRUCTION TOTAL $125,322.18 DEVELOPER FEE** Paid after closing of sale to HOME $13,181.15xx Eligible Bu er *Developer �.vill be reimbursed for eligible expenses only. The amounts are estimates and are subject to change. ** 10% of project related development costs as shown on Exhibit "C" - Budget. CONTRACT AMENDMENT 3 to CSC No. 44562 Page 4 Tarrant County Housing Partnership, Ina — 1333 F,. Jefferson Rev. 02/10/IS EXHIBIT "C" BUDGET REVISED 2/2015 TARRANT COUNTY HOUSING PARTNERSHIP, INC. 1333 E. JEFFERSON HOMG Funds for Project Related Development Costs: $131,811.48 Developer Feex: $ 13,181.15 TOTAL HOMG rUNDS: $144,992.63 Development Budget Use of Funds Source of Funds Prectevelopment Cost HOMG $ OTHER $ SOURCE OF OTHGR TOTAL $ P'UNDS rUNDS FUNDS rUNDS � (1) (2) (Names) (1+2) l. Market Stud 2. Feasibility (i.e.: preliminary �.vork write-u , cost estimates, design) 3. Other Total Predevelo ment Cost (1+2=3 Develo ment Cost 4. Land and/or building ac uisition 937.00 937.00 5. Site Pceparation 6,780.00 6,780.00 6. Construction Cost I 12,863.44 112,863.44 7. Fence 8. Landscape 750.00 750.00 9. Contingency ] 0. Appcaisal I 1. Architect & Engineering Fees 2,290.90 2,290.90 12. Construction Management Fee / Developer Fee 13. Construction Loan Interest 14. Property Sucvey 1,300.00 350.00** Proceeds of Sale** 1,650.00 15. Legal Fees 150.50** Pcoceeds of Sale** I50.50 16. Real Estate Fees 5,042.00** Pcoceeds of Sale** 5,042.00 l7. Utility Hookup/Impact Fees 400.8�1 400.84 18. Title and Recording Fees 946.80** Proceeds of Sale** 946.80 19. Construction Management 20. Bond Fees Total Development Cost (Total of items 125,322.18 6,489.30 131,811.48 4-20 Total Cost 125,322.18 6,489.30 131,811.48 *Developer Fee shall be paid from HOME Funds by invoice after the closing of the sale of the house to a HOME Eligible Buyer. The Developer Pee consists of 10% of the project related development costs. **Seller-paid closing costs as sho��m on the HUD-1 Settlementi Statement paid ti•om gross sales proceeds fi•om the sale of the house. CONTRACT AMENDMEN'I' 3 to CSC No. 44562 Page 5 'I'arrant County I-Iousing Partnecship, Inc. — 1333 E. Jefferson Rev. 02/]0/15 M&C Review Page 1 of 3 Official site of the City oP Fort V��orth, l"exas �z�r Cou�cYL �E�� F°��" COUNCIL ACTION: Approved on 1/25/2011 DATE: 1/25/2011 REFERENCE G24714 LOG NAME: 17TCHP- NO.: HILLSIDE\MORNINGSIDE CODE: C TypE; NON- PUBLIC NO CONSENT HEARING: SUBJECT: Authorize a Change in Use and Expenditure of $381,931.00 of HOME Investment Partnerships Program Grant Funds to Tarrant County Housing Partnership, Inc., for the Development of Three Single Family Houses in the Hiliside-Morningside Neighborhood, Authorize the Execution of Conditional Commitment and Contract and Authorize a Substantial Amendment to the City's 2010-2011 Action Plan (COUNCI� DISTRICT 8) RECOMMENDATION: It is recommended that the City Council: 1. Authorize a substantial amendment to the City's 2010-2011 Action Plan; 2. Authorize the City Manager, or his designee, to substitute funding years in order to meet commitment, disbursement and expenditure deadlines for grant funds from the United States Department of Housing and Urban Development; 3. Authorize a change in use and expenditure of $381,931.00 in HOME Investment Partnerships Program Grant funds to Tarrant County Housing Partnership, Inc., a certified Community Housing Development Organization, for the development of three single family houses in the Hillside- Morningside neighborhood; 4. Authorize the City Manager, or his designee, to execute a conditional commitment with Tarrant County Housing Partnership, Inc., that conditions funding, among other things, on satisfactory completion of HOME requirements; 5. Authorize the City Manager, or his designee, to execute a Contract with the Tarrant County Housing Partnership, Inc., for the project for a three year term beginning on the date of execution of the contract; 6. Authorize the City Manager, or his designee, to extend or renew the conditional commitment or the contract if Tarrant County Housing Partnership, Inc., requests a written extension and such extension is necessary for completion of the project; and 7. Authorize the City Manager, or his designee, to amend the conditional commitment or the Contract if necessary to achieve project goals provided that the amendment is within the scope of the project and in compliance with City policies and applicable laws and regulations governing the use of federal grant funds. DISCUSSION: On October 14, 2010, the City issued a Request for Proposals (RFP) for certified Community Housing Development Organizations (CHDO) to award and expend up to $1,261,931.00 of HOME Investment Partnerships Program Grant funds. On November 18, 2010, the Tarrant County Housing Partnership, Inc., (TCHP) submitted a response requesting $617,884.00 of the available HOME funds http://fortworthtexas.gov/council_packet/mc_review.asp?ID=14661 &councildate=l/25/2011 2/24/2015 M&C Review Avis F. Chaisson (6342) ATTACHMENTS Page 3 of 3 http://fortworthtexas.gov/council_packet/mc_review.asp?ID=14661 &councildate=l/25/2011 2/24/2015