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Home My WebLink AboutContract 32339 TA A, 11y 0 AMENDMENT TO MANAGEMENT OF MICRO LOAN WHEREAS, the City of Fort Worth (City) and Fort Worth Economic Development Corporation (Contractor) made and entered into City Secretary Contract No. 28867 (the "Contract") on the 8`" day of July, 2003; and WHEREAS, the Contract involves the Contractor managing the Fort Worth Economic Development Corporation Micro Loan Program. WHEREAS, on June 21, 2005 the City of Fort Worth City Council authorized the transfer of $275,000 in Community Development Block Grant Year XXIX funds to re- capitalize the Fort Worth Economic Development Corporation Micro loan program; and WHEREAS, it has become necessary to amend said Contract to extend the contract to May 31, 2005; NOW THEREFORE, City and Contractor, acting herein by and through their duly authorized representatives, enter into the following agreement which amends the Contract: 1. Section 1. Scope of Services subsection a. of the Contract is amended to extend the contract to May 31, 2005, and such subsection shall read as follows: "a. Contractor will administer Economic Development services to citizens of the City of Fort Worth under the program name Micro Loan Program ("Program") for the term June 1, 2003 to May 31, 2006." 2. Section 1. Scope of Services subsection c. is amended to provide that a copy of the current National Objectives shall be attached to the contract as Attachment A. 3. Section 2. Compensation and Method of Payment subsection a. is amended to provide that the fee to be paid to Contractor for all work and services performed under the Contract, as amended, shall not exceed the sum of$45,927.00 and such subsection shall read as follows: "a. City will advance Year XXIX monies in an amount up to $275,000.00 for re-capitalization of the Micro Loan Program. City will disburse CDBG Year XXIX, Year XXX and Year XXXI monies in an amount up to $45,927.00 to Contractor on a reimbursement of expenses basis." As of the date of execution, the City has disbursed $16,403 to Contractor for services rendered in 2003-2004 from CDBG XXIX monies. For contract year 2004-2005, Contractor may earn up to $14,762.00 from CDBG XXX monies. For contract year 2005- 2006, Contractor may earn up to $14,762.00 from CDBG XXXI monies 4. As a result of the contract being extended until May 31, 2006, it is necessary to amend the Exhibits to the original contract, therefore the new Exhibits are attached as Attachments A, B-1, B-2,B-3, C-1, C-2, and C-3. 5. All other provisions of the Contract, which are not expressly amended herein, shall remain in full force and effect. �4h EXECUTED on this the day of � , 2005, in Fort Worth, Tarrant County, Texas. City of Fort Worth Fort Worth Economic Development Corporation Dale Fisseler es Stoke's' Assistant City Managerd� ,� C�''�r/ ATTEST: �-V-\" Marty Hendrix City Secretary Iyp A�[&C REQUIRED APPROVED rO FORM AND LEGALITY: Cynthia GarclW Assistant City Attorney 2 EXHIBIT A PROGRAM SUMMARY FWEDC AGENCY Micro Loan Program PROGRAM 00000 June 1, 2003-May 31, 2006 $45,927 CONTRACT NO. PERIOD AMOUNT PROGRAM DESCRIPTION CDBG funds will provide for staff salaries and facility space for the ability to provide forms of outreach to market financing to potential business owners willing to locate in one of the four Coordinated Neighborhood Revitalization Areas. COUNCIL DISTRICT(S) 2,4,8,9 PROGRAM GOALS To provide affordable financing to businesses willing to locate in one of the four Coordinated Neighborhood Revitalization Areas. PROGRAM OBJECTIVES To create jobs for low and very low income citizens who reside in one of the four Coordinated Neighborhood Revitalization Areas. To provide economic revitalization for the four Coordinated Revitalization Areas. PROGRAM SERVICES and ACTIVITIES GOALS Number unduplicated businesses/clients served 28 Number of loans closed 14 Number of jobs created 32 EXHIBIT B-I CDBG YEAR XXIX PROGRAM SERVICE SCHEDULE FWEDC AGENCY Micro Loan Program PROGRAM Activity Jun July Aug Sept Oct Nov Dee an IFeb Mar r May Total Number of Unduplicated Clients/Businesses Served 8 0 —0 0 0 0 0 0 0 0 0 0 8 Number of loans closed 2 0 0 0 0 0 0 0 0 0 0 0 2 Number ofjobs created 5 0 0 0 0 0 0 0 0 0 0 0 5 C.3) R.D Ci> EXHIBIT B-2 CDBG YEAR XXX PROGRAM SERVICE SCHEDULE FWEDC AGENCY Micro Loan Program PROGRAM Activity un July AugSept Oct Nov ecT02 Feb Mar r May Total Number of Unduplicated Bents/Businesses Served 0 0 1 1 2 2 0 0 2 0 10 umber of loans closed 0 0 0 0 1 1 0 0 2 0 2 b umber of'obs created 0 0 0 0 2 3 0 0 7 0 2 14 EXHIBIT B-3 CDBG YEAR XXXI PROGRAM SERVICE SCHEDULE FWEDC AGENCY Micro Loan Program PROGRAM Activity un JulugSept Oct Nov Dec Jan Web Mar r ay Total Number of Unduplicated Clients/Businesses Served 0 0 1 1 2 2 0 2 0 0 2 0 10 Number of loans closed 0 0 0 0 1 1 0 0 0 2 0 2 6 Number of'obs created 0 0 0 0 2 3 0 0 0 6 0 2 13 tiN ce r'l r Gff9 Nfil ffu'0 s�C CITY OF FORT WORTH EXHIBIT C-1 CDBG BUDGET 2003-2004 Page 1 of 3 CONTRACT PERIOD From: 06/01/2003 To: 05/31/2004 Name of Sub Grantee Name of Program FWEDC iMicro Loan Program Program CDBG Cost Category Budget Funds [a] [b] [c] [d] PERSONAL SERVICES Salaries 329,490 8,403 23,054 298,033 FICA 25,800 25,800 Life Insurance 800 800 Health Insurance 35,300 35,300 Employment Tax-State 500 500 Employment Tax- Federal Worker's Comp Retirement SUPPLIES Office Supplies 5,214 214 5,000 Postage 2,200 200 2,000 Teaching Aids Dues, Sub, & Pub. Other Operating Expenses CONTRACTUAL SERVICES Telephone 16,800 16,800 Electric Gas Water/Waste Disposal Rent[Building] 49,960 4,330 22,440 23,190 Custodial Services Office Equipment Rental 3,900 3,900 Printing 2,500 2,500 Repairs 2,200 2,200 Fidelity Bond 500 500 Liability Insurance 3,900 3,900 Indirect Legal&Accounting 14,677 3,670 6,000 5,007 Private Auto Allowance-Local 10,000 10,000 Advertising Conference & Seminars 8,500 8,500 Office Equipment Bank Charges CAPITAL OUTLAY Office Furniture Computer Equipment Other: [Described] TOTALI 512,241 16,403 51,908 443,930 - - MATCHING FUND SOURCES [a]CDBG Revolving Loan Program [b] SBA 504 Program [c] Do G�.J 1ur=sir �,r�i BUDGET DETAIL Page 2 of 3 PERSONAL SERVICES Hourly Annual %of Position/Title Rate Hours Time Amount 1 Loan Officer 16.16 2080 25% 8,403 2 3 4 5 6 7 8 9 10 11 TOTAL STAFF SALARIES 8,403 FRINGE BENEFITS %of % Paid % Paid CATEGORY Payroll Amount by Agency by CDBG Amount FICA Life Insurance Health Insurance Employment Tax Worker's Comp Retirement TOTAL FRINGE BENEFITS 0 TOTAL PERSONAL SERVICES 8,403 BUDGET DETAIL Page 3 of 3 UTILITIES AVERAGE COST PER NUMBER OF MONTHS AMOUNT CATEGORY MONTH Telephone Electric Gas Waste/Water Disposal Other Total Utilities BUILDING LEASE BUILDING COST PER SQUARE LOCATION NO. SQUARE FOOT FOOT AMOUNT 1 1150 South Frwy. Suite 215 3,659 14 10% 9,993 2 3 TOTAL BUILDING LEASE OTHER EXPENSES CATEGORY TOTAL CHARGE % CHARGED TO CDBG AMOUNT Fidelity Bond Liability Insurance Legal &Accounting 12,000 31% 3,670 (Other) Food TOTAL OTHER EXPENSES 3,670 CONFERENCES AND SEMINARS EVENT TOTAL CHARGE %CHARGED TO CDBG AMOUNT 1 2 3 TOTAL CONFERENCES AND SEMINARS 0 OFFICE EQUIPMENT RENTAL ITEM TOTAL CHARGE % CHARGED TO CDBG AMOUNT 1 2 3 TOTAL OFFICE EQUIPMENT RENTAL CITY OF FORT WORTH EXHIBIT C-2 CDBG BUDGET 2004-2005 Page 1 of 3 CONTRACT PERIOD From: 06/01/2004 To: 05/31/2005 Name of Sub Grantee Name of Program FWEDC IMicro Loan Program Program CDBG Cost Cate o Budget Funds [a] [b] [c] [d] PERSONAL SERVICES Salaries 362,439 8,824 23,054 330,561 FICA 28,380 28,380 Life Insurance 880 880 Health Insurance 38,830 38,830 Employment Tax-State 550 550 Employment Tax- Federal Worker's Comp Retirement SUPPLIES Office Supplies 5,735 214 5,521 Postage 2,420 200 2,000 Teaching Aids Dues, Sub, & Pub. Other Operating Expenses CONTRACTUAL SERVICES Telephone 18,480 18,480 Electric Gas Water/Waste Disposal Rent[Building] 54,956 4,330 22,440 28,186 Custodial Services Office Equipment Rental 4,290 4,290 Printing 2,750 2,750 Repairs 2,420 2,420 Fidelity Bond 550 550 Liability Insurance 4,290 4,290 Indirect Legal &Accounting 16,145 1,608 6,000 8,537 Private Auto Allowance-Local 11,000 11,000 Advertising Conference&Seminars 9,350 9,350 Office Equipment Bank Charges CAPITAL OUTLAY Office Furniture Computer Equipment Other: [Described] TOTALI 563,465 14,762 51,908 496,575 - - MATCHING FUND SOURCES [a] CDBG Revolving Loan Program [b]SBA 504 Program [c] --_ Jgg L LCU BUDGET DETAIL Page 2 of 3 PERSONAL SERVICES Hourly Annual %of Position/Title Rate Hours Time Amount 1 Loan Officer 16.97 2080 25% 8,824 2 3 4 5 6 7 8 9 10 11 TOTAL STAFF SALARIES 8,824 FRINGE BENEFITS %of % Paid % Paid CATEGORY Payroll Amount by Agency by CDBG Amount FICA Life Insurance Health Insurance Employment Tax Worker's Comp Retirement TOTAL FRINGE BENEFITS 0 TOTAL PERSONAL SERVICES 8,824 BUDGET DETAIL Page 3 of 3 UTILITIES AVERAGE COST PER NUMBER OF MONTHS AMOUNT CATEGORY MONTH Telephone Electric Gas Waste/Water Disposal Other Total Utilities BUILDING LEASE BUILDING COST PER SQUARE LOCATION NO. SQUARE FOOT FOOT AMOUNT 1 1150 South Frwy. Suite 215 3,659 14 10% 4,330 2 3 TOTAL BUILDING LEASE OTHER EXPENSES CATEGORY TOTAL CHARGE %CHARGED TO CDBG AMOUNT Fidelity Bond Liability Insurance Legal &Accounting 16,145 10% 1,608 (Other)Food TOTAL OTHER EXPENSES 1,608 CONFERENCES AND SEMINARS EVENT TOTAL CHARGE % CHARGED TO CDBG AMOUNT 1 2 3 TOTAL CONFERENCES AND SEMINARS 0 OFFICE EQUIPMENT RENTAL ITEM TOTAL CHARGE % CHARGED TO CDBG AMOUNT 1 2 3 TOTAL OFFICE EQUIPMENT RENTAL N YJ 5 to I]1:'2y� `�• S1 R CITY OF FORT WORTH EXHIBIT C-3 CDBG BUDGET 2005-2006 Page 1 of 3 CONTRACT PERIOD From: 06/01/2005 To: 05/31/2006 Name of Sub Grantee Name of Program FWEDC IMicro Loan Program Program CDBG Cost Catego Budget Funds [a] [b [c) [d] PERSONAL SERVICES Salaries 380,561 10,249 23,054 347,258 FICA 29,800 29,800 Life Insurance 925 925 Health Insurance 40,770 40,770 Employment Tax-State 580 580 Employment Tax- Federal Worker's Comp Retirement SUPPLIES Office Supplies 6,000 214 5,786 Postage 2,550 200 2,000 Teaching Aids Dues, Sub, & Pub, Other Operating Expenses CONTRACTUAL SERVICES Telephone 19,400 19,400 Electric Gas Water/Waste Disposal Rent[Building] 54,956 4,330 22,440 28,186 Custodial Services Office Equipment Rental 4,500 4,500 Printing 3,000 3,000 Repairs 2,600 2,600 Fidelity Bond 580 580 Liability Insurance 4,500 4,500 Indirect Legal &Accounting 12,000 183 6,000 12,000 Private Auto Allowance- Local 6,000 6,000 Advertising Conference& Seminars 9,350 9,350 Office Equipment Bank Charges CAPITAL OUTLAY Office Furniture Computer Equipment Other: (Described] TOTALI 578,072 14,762 51,908 517,235 - - MATCHING FUND SOURCES [a)CDBG Revolving Loan Program [b)SBA 504 Program [c] BUDGET DETAIL Page 2 of 3 PERSONAL SERVICES Hourly Annual % of Position!Title Rate Hours Time Amount 1 Loan Officer 19.71 2080 25% 10,249 2 3 4 5 6 7 8 9 10 11 TOTAL STAFF SALARIES 10,249 FRINGE BENEFITS %of % Paid % Paid CATEGORY Payroll Amount by Agency by CDBG Amount FICA Life Insurance Health Insurance Employment Tax Worker's Comp Retirement TOTAL FRINGE BENEFITS 0 TOTAL PERSONAL SERVICES 10,249 BUDGET DETAIL Page 3 of 3 Gv112" Hu?; iUHI ^c �� UTILITIES AVERAGE COST PER NUMBER OF MONTHS AMOUNT CATEGORY MONTH Telephone Electric Gas Waste/Water Disposal Other Total Utilities BUILDING LEASE BUILDING COST PER SQUARE LOCATION NO. SQUARE FOOT FOOT AMOUNT 1 1150 South Frwy. Suite 215 3,659 14 10% 4,330 2 3 TOTAL BUILDING LEASE OTHER EXPENSES CATEGORY TOTAL CHARGE % CHARGED TO CDBG AMOUNT Fidelity Bond Liability Insurance Legal&Accounting 12,000 1.5% 183 (Other) Food TOTAL OTHER EXPENSES 183 CONFERENCES AND SEMINARS EVENT TOTAL CHARGE % CHARGED TO CDBG AMOUNT 1 2 3 TOTAL CONFERENCES AND SEMINARS 0 OFFICE EQUIPMENT RENTAL ITEM TOTAL CHARGE % CHARGED TO CDBG AMOUNT 1 2 3 TOTAL OFFICE EQUIPMENT RENTAL