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Home My WebLink AboutContract 45957-A2 ITY C CTR O.y S 7Al- SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO. 45957 WHEREAS, on October 30, 2013 the City of Fort Worth ("City") and Tarrant County Housing Partnership, Inc. ("Developer") made and entered into City Secretary Contract No. 45057 (the "Contract"), as authorized by the City Council in M&C C-25531 adopted on March 27, 2012 which provided $1,115,000 of City's HOME funds to Developer for the development and construction of up to 10 single family houses in the Hillside-Morningside neighborhood; WHEREAS, the funding provided to Developer in the Contract was from a grant received by the City from the United States Department of Housing and Urban Development through the HOME Investment Partnership Program, Catalog of Federal Domestic Assistance No. 14.239; WHEREAS, a portion of the City's HOME funds are reserved for the use of certain housing development entities that qualify under the HOME Regulations as a Community Housing Development Organization ("CHDO") and Developer is qualified as a CHDO under the HOME Regulations; WHEREAS, Developer requested $130,234.00 of HOME CHDO funds for the construction of a single family house located at 1244 E. Jessamine to be sold to HOME Eligible Buyers under the terms and conditions set forth in the Contract; WHEREAS, the CHDO has legally changed its name to Housing Channel, Inc.; WHEREAS, the First Amendment increased the line item amounts in Exhibit "B" — Budget and extend the Completion Deadline in Exhibit "C" — Project and Reimbursement Schedule due to scheduling issues and the rise in price for construction materials for the project; WHEREAS, Developer has requested a Second Amendment to extend the Completion Deadline in Exhibit "C" - Project and Reimbursement Schedule due to additional scheduling issues; WHEREAS, it is the mutual desire of City and Developer to amend the Contract to complete the project and meet Contract objectives. NOW THEREFORE, City and Developer hereby agree as follows: 1. Section 2. DEFINITIONS is amended to be and read as follows: "Completion Deadline means May 30, 2018. C11- OFFICIAL RECORD CITY SECRETARY CONTRACT AMENDMENT 2 to CSC No.45957 FT'WORTH,TX Page 1 Housing Channel, Inc.— 1244 E. Jessamine R&O 4/2018 II. Exhibit "C" - Project and Reimbursement Schedule attached to the Contract are hereby replaced with Exhibit "C" - Project and Reimbursement Schedule Revised 4/2018 attached hereto. III. All other terms and conditions of City Secretary Contract No. 45957 not amended herein remain unaffected and in full force and effect, are binding upon 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] CONTRACT AMENDMENT 2 to CSC No.45957 Page 2 Housing Channel,Inc.— 1244 E.Jessamine Rev.4/2018 rE F F®Rr�!p ACCEPTED AND AGRE Z ATT T: TY OF FORT WORTH TEA By: City Secr t Fernando Costa, Assistant City Manager M&C C-26977 Date: 9/16/2014 Form 1295: N/A ROVED AS TO FORM AND LEGALITY: t r �J PiI ge Mebane, Assis ant City Attorney HOUSING CHANNEL, a Texas non-profit corporation By: Wn'na'V'AnTress, Mw4dnt City of Fort Worth Agreement 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. Name: �� Title: off;., o e4 f G�s.fl .10 OFFICIAL RECORD CItY$ECRATARY FY'.WOR' HoTX CONTRACT AMENDMENT 2 to CSC No. 45957 Page 3 Housing Channel,Inc.— 1244 E. Jessamine Rev.4/2018 EXHIBIT "C" PROJECT AND REIMBURSEMENT SCHEDULE REVISED 4/2018 HOUSING CHANNEL, INC. 1244 E. JESSAMINE Phase Activity Amount PHASE I ACTIVITIES: Contract Signed Land and/or Building Acquisition Predevelopment PHASE I DEADLINE: $2491* October 31,2015 1st Payment* ' PHASE II ACTIVIITES: Site Preparation Predevelopment Construction costs PHASE II DEADLINE: 2" Payment* $10,726* December 31,2016 PHASE III ACTIVIITES: Architectural &Engineering Fees Construction Costs Utilities/Security PHASE III DEADLINE: 3"1 Payment* $78,818* August 31,2017 PHASE IV ACTIVIITES: Construction costs Utilities/Security PHASE IV DEADLINE: 4"Payment* $62,052* September 30 2017 PHASE V ACTIVITIES: Construction Costs Utilities/Security PHASE V DEADLINE: FINAL PAYMENT* $17,360* May 31,2018 TOTAL $1719447 DEVELOPER FEE** Paid after closing of sale to HOME $17,143** Eligible Buyer *Developer will 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 2 to CSC No.45957 Page 4 Housing Channel,Inc.—1244 E.Jessamine Rev.4/2018 M&C Review Page 1 of 2 Official site of the City of Fat Worth,Texas CITY COUNCIL AGENDA FOR H COUNCIL ACTION: Approved on 9/16/2014 DATE: 9/16/2014 REFERENCE,,,,-26.77 LOG NAME: 17TCHP_REVISEDHILLSIDE/MORNINGSIDEBUDGET CODE: C TYPE: CONSENT PUBLIC NO HEARING: SUBJECT: Authorize Amendment to Mayor and Council Communications C-24293, C-24714, C-25531, C-25676 and C-26369 to Increase the Total Amount for Development Costs and Decrease the Total Amount for Operating Funds of the HOME Investment Partnerships Program Grant Funds Awarded to Tarrant County Housing Partnership, Inc.,for Single-Family Housing Development in the Hillside-Morningside Neighborhood and to Allow for Lease of Houses by Eligible Tenants(COUNCIL DISTRICT 8) RECOMMENDATION: It is recommended that the City Council authorize the amendment of Mayor and Council Communications C-24293, C-24714, C-25531, C-25676 and C-26369 to: (1) increase the total amount for development costs by the amount of$125,000.00 and decrease the total amount for operating funds by the amount of$125,000.00 of the HOME Investment Partnerships Program grant funds awarded to Tarrant County Housing Partnership, Inc., for single-family housing development in the Hillside-Morningside neighborhood; and (2) allow for rental of the houses by eligible tenants. DISCUSSION: The City Council approved an award in the total amount of$1,815,913.00 of HOME Investment Partnerships Program (HOME) grant funds to Tarrant County Housing Partnership, Inc. (TCHP), a Community Housing Development Organization(CHDO), for the development of up to 18 single- family houses in the Hillside-Morningside neighborhood (Mayor and Council Communications C-24293, C-24714, C-25531, C-25676 and C-26369). This amount included a total of$175,000.00 for CHDO operating funds and$1,640,913.00 for development expenses for the houses. Due to higher construction costs, Staff recommends that the total amount of HOME funds awarded to TCHP instead include a total amount of$1,765,931.00 for construction and other development costs, and reduce the CHDO operating funds to$50,000.00. As of August 23, 2013, the United States Department of Housing and Urban Development(HUD) requires that a CHDO must have a sales contract with a HOME-eligible buyer within nine months of completion of construction of a house built with CHDO funds. If the CHDO does not have contract with a HOME-eligible buyer within this timeframe,the house must instead be rented to an income- eligible tenant. This requirement applies to all projects, including CHDO projects, to which HOME funds are committed on or after August 23, 2013. Therefore, Staff requests that the above- referenced Mayor and Council Communications be amended to allow not only for the sale to a HOME-eligible buyer, but also for the rental by an income-eligible tenant, including the option for the tenant to lease-purchase the house. This project is located in COUNCIL DISTRICT 8. FISCAL INFORMATION/CERTIFICATION: The Financial Management Services Director certifies that the action will have no material effect on City funds. http://apps.cfwnet.org/council_packet/mc review.asp?ID=20201&councildate=9/16/2014 5/7/2018 M&C Review Page 2 of 2 TU Fund/Account/Centers FROM Fund/Account/Centers Submitted for City Manager's Office by: Fernando Costa(6122) Oriainatina Department Head: Jesus Chapa(5804) R,Odiitional Information Contact: Cynthia Garcia(8187) Leticia Rodriguez(7319) ATTACHMENTS 17TCHP MAP.gdf http://apps.cfwnet.org/council__packet/mc_review.asp?ID=20201&councildate=9/16/2014 5/7/2018