HomeMy WebLinkAboutContract 38750STATE OF TEXAS §
COUNTY OF TARRANT §
THIS contract ("Contract") is made and entered into by and between the City of Fort
Worth ("City"), whose address is 1000 Throckmorton St., Fort Worth TX 76102, acting by and
through T. M. Higgins, its duly authorized Assistant City Manager, and FW-Eastland Housing
Partners, Ltd. ("FW-EHP "), whose address is 580 Decker Drive, Suite 208, Irving, Texas 75062,
acting by and through Robert G. Hoskins, the duly authorized Manager of NDG-Eastland, LLC.
(Sometimes City and FW-EHP are referred to individually as a "Party" and collectively as the
"Parties").
WHEREAS, the City of Fort Worth ("City") has received a grant from the United States
Department of Housing and Urban Development ("HUD") through the HOME Investment
Partnerships Program ("HOME"), Program No. M-04MC48-0204, Catalog of Federal
Domestic Assistance ("CFDA") No. 14.239, with which the City desires to promote activities
that expand the supply of affordable housing and the development of partnerships among the
City, local governments, local lenders, private industry and neighborhood -based nonprofit
housing organizations;
WHEREAS, the primary purpose of the HOME program ("HOME Program") pursuant to
the HOME Investment Partnerships Act at Title II of the Cranston Gonzales National Affordable
Housing Act of 1990, as amended, 42 U.S.C. 12701 et seq. ("NAHA") and the HOME
Investment Partnerships Program Final Rule, as amended, 24 CFR Part 92 et seq. (the "HOME
Regulations" or "Regulations") is to benefit low and very -low income citizens by providing them
with affordable housing;
WHEREAS, FW-EHP is a single asset for -profit entity created for the purpose of
constructing, owning and managing fora minimum of thirty (30) years an affordable multifamily
rental housing project commonly known as the Residences at Eastland;
WHEREAS, FW-EHP is a Texas limited partnership by and between BCCC, Inc., a
Massachusetts corporation, as Special Limited Partner; Boston Capital Corporate Tax Credit
Fund XXIX, a Limited Partnership, a Massachusetts limited partnership as Investment Limited
Partner; and NDG-Eastland, LLC, a Texas limited liability company, as General Partner. Robert
G. Hoskins and Sandra K. Hoskins are the Members of NDG-Eastland, LLC.
WHEREAS, FW-EHP has received an award of Low Income Housing Tax Credits
("LIHTC") from the Texas Department of Housing and Community Affairs ("TDHCA") to
construct the Residences at Eastland; and
WHEREAS, City citizens and the City Council have determined that the development of
safe, decent, and affordable rental housing is needed for moderate, low, and very low-income
citizens of Foa0.orth.
OFFICIAL
RECORD
CITYSECRETARY
woven, Tx
HOME FUND
FW-Eastland ousinQ Partners -
Page 1
REV. 3-31-09
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
A. Introductory Provisions
l . Parties. The parties to this Contract are the City of Fort Worth, Texas ("City") and FW-
Eastland Housing Partners, Ltd. ("FW-EHP").
Addresses:
Qi1)7
1000 Throckmorton Street
Fort Worth, TX 76102
FW-EHP
580 Decker Drive, Suite 208,
Irving, Texas 75062
Agents:
ciiy
City Manager, or his or her duly authorized representative, which will include T.
H. Higgins, Assistant City Manager
FW-EHP
Robert G. Hoskins, duly authorized Manager of NDG-Eastland LLC, the General
Partner of FW-EHP, and authorized signatory
2. Subrecipient. FW-EHP will operate as a subrecipient under this Contract.
3. Independent Contractor. FW-EHP will operate hereunder as an independent contractor
and not as an officer, agent, servant or employee of City. FW-EHP shall have exclusive
control of, and the exclusive right to control, the details of the work and services
performed hereunder, and all persons performing same, and shall be solely responsible
for the acts and omissions of its officers, members, agents, servants, employees,
contractors, Project participants, licensees or invitees. The doctrine of respondeat
superior shall not apply as between City and FW-EHP, its officers, members, agents,
servants, employees, contractors, Project participants, licensees or invitees, and nothing
herein shall be construed as creating a partnership or joint enterprise between City and
FW-EHP. It is expressly understood and agreed that no officer, member, agent,
employee, contractor, licensee or invitee of either FW-EHP or any Project participant is
in the paid service of City and that City does not have the legal right to control the details
of the tasks performed hereunder by FW-EHP, its officers, members, agents, employees,
contractors, Project participants, licensees or invitees. City shall in no way nor under any
circumstances be responsible for any property belonging to FW-EHP, its officers,
members, agents, employees, contractors, Project participants, licensees, invitees, which
may be lost, stolen, destroyed or in any way damaged and FW-EHP HEREBY
INDEMNIFIES AND HOLDS HARMLESS CITY AND ITS OFFICERS, AGENTS,
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FW-Eastland Housing Partners REV. 3-31-09
AND EMPLOYEES FROM AND AGAINST ANY AND ALL CLAIMS OR SUITS
PERTAINING OR CONNECTED WITH SUCH PROPERTY.
4. Purpose. The City will provide FW-EHP vv�ith HOME funds ("HOME Funds") in the
form of a two (2) year interest bearing loan in the amount of NINE HUNDRED
THOUSAND AND NO/100 dollars ($900,000.00) for eligible construction costs (the
"Loan") for its affordable housing apartment complex commonly known as the
Residences at Eastland (the "Project"). HOME Funds must be used for eligible activities
and costs in connection with the Project set forth in the HOME Regulations, including
but not limited to, acquisition costs, direct construction costs, architectural, engineering,
attorney, consultant, appraisal and other applicable fees directly related to carrying out
the Project as well as the refinancing of such costs that were eligible initially. The
Project, located at 5500 Eastland Street, Fort Worth, Texas 76119 (the "Property"), will
provide rental housing for low and very low income persons.
It is expressly understood and agreed that City's obligations under this Contract are
contingent upon the actual receipt of adequate HOME funds and a Notice of Removal of
37•ant Conditions from HUD for the Project ("Notice"). Should City not receive
adequate HOME funds or the Notice, City shall notify FW-EHP in writing and may, at its
option, terminate this Contract. In the event any security instrument has been executed
and recorded in the public records, City shall promptly take all necessary steps to file the
appropriate release of any such security instrument.
5. Term. The Contract term will begin on the date of its execution. Certain Contract
provisions have different termination dates.
(a) The City's obligation to provide HOME Funds will terminate at the conclusion of
two (2) years from the date of execution of this Contract.
(b) The Loan term shall be two (2) years as set forth in the Loan Documents, as
hereinafter defined
(c) The Affordability Period, as hereinafter defined, will be twenty (20) years.
B. FW-EHP Responsibilities
1. Statement of Work and Performance Objectives. FW-EHP will utilize HOME Funds on
the Project to produce housing units for lease to qualified low-income tenants in
accordance with the terms of this Contract and Exhibit "A" — Project Summary.
2. Budg_et. FW-EHP agrees that the HOME Funds will be expended in accordance with
Exhibit "B" —Budget (the "Budget"). No change in the Budget shall be made without
City's prior written approval. FW-EHP shall demonstrate to City's satisfaction that the
HOME Funds are leveraged by other funding sources, including LIHTC proceeds.
3. Time Line for Goals and Expenditures. FW-EHP shall work in accordance with the
schedule set forth in the attached Exhibit "C" —Project Implementation Timeline, and
ensure that Project goals and expenditures correspond with the completion of the Project.
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FW-Eastland Housing Partners REV. 3-31-09
4. HOME -Assisted Housing Units. Ten (10) of the rental units developed by FW-EHP will
be considered HOME -assisted units which will be leased to qualified low income tenants.
The per -unit subsidy provided for in this Contract is described in more detail in the
attached Exhibit "A" - Project Summary. These ten (10) units may "float" throughout
the total number of units in the entire apartment complex, and shall be affordable to
tenants whose incomes are verified as being at or below sixty (60%) of area median
income ("AMI") as defined by HUD.
Six of these ten (10) units will be two (2) bedroom units, and four (4) units will be three
(3) bedroom units. If these ten (10) housing units do not qualify as affordable rental
housing immediately upon lease -up or at any time during the Affordability Period, the
loan proceeds under this Contract will be immediately due and payable to City.
5. Affordability Period.
Twenty Years. The ten (10) HOME -assisted rental units developed by FW-EHP must
qualify as affordable rental housing for a period of twenty (20) years from the date these
units are set up in HUD's Integrated Disbursement and Information System ("IDIS")
maintained by City and HUD as required by HOME Regulations (the "Affordability
Period"). The Affordability Period shall commence on the later of: (1) the date the
Project is completed and FW-EHP has reported all income eligible tenant lease -up of all
HOME -assisted units by reporting to City the applicable tenant beneficiary data; or (ii)
the data for the HOME -assisted units is set up and completed in IDIS as required by the
HOME Regulations.' The ten (10) rental housing units assisted under this Contract will
remain affordable as required by 24 CFR Part 92.252 of the Regulations.
Affordability Periods for HOME Projects. Housing purchased, renovated or constructed
with HOME Funds must remain affordable and subject to repayment for the following
minimum time periods: Five (5) years when the per unit amount of HOME Funds
provided is less than $15,000.00; Ten (10) years when the per unit amount of HOME
Funds provided is $15,000.00 to $40,000.00; Fifteen (15) years when the per unit amount
of HOME Funds provided is $40,000.00 or HOME -assisted rehabilitation of the units
involved refinancing; and twenty (20) years when the multi -family units are newly
constructed.
Failure to Maintain Affordability Requirements. FW-EHP must repay City all
HOME Funds if any of the HOME -assisted rental housing units do not maintain all the
HOME affordability requirements during the Affordability Period. If FW-EHP has
repaid the HOME Funds to City, then FW_EHP shall pay City $90,000 as liquidated
damages for its failure to maintain the HOME affordability requirements during the
Affordability Period.
Affordability Requirement Survives Transfer. Further, the rental housing units must
remain affordable without regard to the term of any mortgage or transfer of ownership,
terms "set up" and "completed" as used here in context of entering the information into IDIS, shall have the
meaning set out in HUD's IDIS Manual, which may be found at ���w.hud.eov/assist/acrobat.cfin
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FW-Eastland Housing Partners
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REV. 3 -31-09
pursuant to deed restrictions, the terms of the Loan Documents as hereinafter described,
or other mechanism approved by HUD.
Provisions to Secure Affordability.
a. The City's interest in preserving the affordability of the HOME -assisted units will
be secured by a combination of the subordinate Promissory Note and Deed of
Trust Security Agreement — Financing Statement described herein, and the Land
Use Restriction Agreement ("LURA") established and enforced by TDHCA for
the Low Income Housing Tax Credits. If FW-EHP retains ownership of the
Project for the full Affordability Period, no further HOME restrictions will apply.
b. Any sale or transfer of the Project by FW-EHP during the Affordability Period
will require the new owner or transferee to affirmatively assume in writing the
obligations established hereunder for the designated HOME -assisted units.
c. Refinancing by FW-EHP shall require the review and prior written approval of
City for the purpose of ensuring compliance with the HOME affordability
requirements.
6. Loan Conditions. FW-EHP will be required to execute a subordinate Promissory Note
and Deed of Trust Security Agreement — Financing Statement ("Loan Documents")
secured by FW-EHP's interest in the Property in the amount of the Loan in conjunction
with this Contract. The City's lien on the Property shall be subordinate to the LURA and
to FW-EHP's construction loan or permanent financing. The term of the Loan shall be
two (2) years. Interest at the Applicable Federal Rate for short term debt shall be paid
monthly. Principal and any accrued but unpaid interest shall be due at the end of the
Loan term. The Applicable Federal Rate for short term debt shall be that which is in
effect at the time of each advance of Loan proceeds with respect to such advance. The
Loan may be repaid with no prepayment penalty from loan proceeds or other income
prior to the end of the Loan term. The Loan will be personally guaranteed by Robert G.
Hoskins and Sandra K. Hoskins.
Repayment of the Loan shall not relieve FW-EHP of its responsibilities to maintain
affordability of the HOME -assisted units for the Affordability Period as set forth in the
Regulations. Further, all provisions of this Contract and particularly those provisions
regarding the requirements of Affordability Period, Income Eligibility, Tenant Rent and
Selection, Tenant Lease, and Housing Quality Standards for the designated HOME -
assisted units must be assigned to any new owner upon sale or transfer of the Project or
Property.
7. Income Eligibility. The HOME Program uses the income definitions used by HUD's
Housing Choice Voucher Program. Annual income includes earned income, income
from assets, and income from other sources as defined by 24 CFR Part 5.609. Annual
income is used to establish tenant eligibility. FW-EHP shall use the most current HUD
Income Guidelines and Technical Guidance for Determining Income and Allowances to
determine Project and tenant eligibility.
8. Tenant Lease.
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FW-Eastland Housing Partners REV. 3-31-09
FW-EHP shall use a tenant lease that complies with the provision in the HOME
Regulations, 24 CFR Part 92.253, regarding the following issues:
a. Length of lease term shall not exceed one (1) year.
b. Lease may not include agreement by tenant to allow landlord to take, hold or sell
tenant's property without notice.
c. Lease may not include agreement by the tenant to excuse owner from
responsibility for intentional or negligent acts.
d. Lease may not authorize owner to institutes a lawsuit without notice to the tenant.
e. Lease may not include agreement by tenant to waive a jury trial or right of appeal.
f. Lease may not include an agreement by tenant to pay legal costs of court
proceeding even if the tenant prevails in those proceedings.
9. Tenant Rent and Selection. As applicable to the number of HOME -assisted units
designated for the Project and outlined in Exhibit "A" - Project Summary, rents
charged to tenants are subject to the HOME regulatory requirements at 24 CFR 92.252
(a) and (b). Rents charged to tenants in HOME -assisted units are subject to review and
approval by City. Under no circumstances may the maximum rental amounts charged to
tenants of HOME -assisted units exceed the "High HOME Rent" which is defined as the
lesser of (a) the HUD established Fair Market Rent for existing comparable housing units
in the area; or (b) thirty percent (30%) of the adjusted income of a family whose annual
income equals sixty-five percent (65%) of AMI with applicable adjustment for the
bedroom size of the relevant housing unit. Rents may not exceed the above amounts
minus monthly allowances for utilities and services (excluding telephone) established by
City. For projects with five (5) or more HOME -assisted units, twenty percent (20%) of
the HOME -assisted units must be occupied by families with incomes no higher than fifty
percent (50%) of AMI who are paying the "Low HOME Rent" which is defined as no
more than thirty percent (30%) of the annual income of a family at fifty percent (50%) of
AMI adjusted for family size. City agrees to provide FW-EHP with copies of HUD
approved schedules of these HOME rent levels and utility allowances as requested by
FW-EHP.
FW-EHP must adopt written tenant selection policies and criteria that:
a. Are consistent with the purpose of providing housing for very low income and low
income persons.
b. Are reasonably related to Project eligibility and the applicants' ability to perform the
obligations of the lease.
c. Provide for (i) the selection of tenants from a written waiting list in the chronological
order of their application, insofar as is practicable; (ii) the prompt written notification
to any rejected applicant of the grounds for such rejected; and (iii) bi-lingual leasing
and management assistance.
d. Ensure that holders of rental assistance subsidies (such as HUD's Housing Choice
Voucher or similar subsidy) are not excluded from renting a unit in the Project.
10. Other Requirements.
HOME FUNDS
FW-Eastland Housing Partners
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REV. 3-31-09
The Parties acknowledge that the HOME Funds paid hereunder are intended to provide
funding only for FW-EHP's Project -related costs as specified in the attached Exhibit "B"
- Budget.
FW-EHP shall maintain all appropriate documentation to demonstrate that the HOME
Funds shall not be used for costs that are ineligible under the HOME Program and that all
such costs are paid for by other funding sources.
FW-EHP agrees to maintain full documentation supporting fulfillment of Project
objectives in its files. All such documentation shall be furnished to City upon request if
necessary for City to fulfill its obligations under its Federal grant.
11. Construction and Other Local Building Codes /Housing Quality Standards.
Housing units constructed with HOME Funds furnished under this Contract shall meet
City's Housing Quality Standards and all other applicable standards under City Codes
and ordinances. FW-EHP shall ensure that the Project is maintained to these standards
for the duration of the Affordability Period. City will verify maintenance of the Project
to these standards through on -site inspections according to the following schedule as
applicable: for projects with one (1) to four (4) HOME -assisted units, every three (3)
years; for projects with five (5) to twenty-five (25) HOME -assisted units, every two (2)
years; for projects with twenty-six (26) or more HOME -assisted units, every year.
All Project plans, specifications and work shall conform to all applicable Federal, state
and local laws, ordinances, rules and regulations. Approval of any plans and
specifications relating to the Project by City shall not constitute or be deemed (a) to be a
release of responsibility or liability of FW-EHP, its officers, agents, employees or any of
its contractors, or any of their officers, agents, employees or contractors for the accuracy
or the competency of the plans and specifications, including, but not limited to, any
related investigations, surveys, designs, working drawings and specifications or other
documents, or (b) an assumption of any responsibility or liability by City for any
negligent act, error or omission in the conduct or preparation of any investigation,
surveys, designs, working drawings or specifications or other documents by FW-EHP or
any of its contractors, or any of their officers, agents, employees or contractors.
12. Reversion of Assets
FW-EHP agrees to return to City any HOME Funds or property acquired with HOME
Funds, remaining on hand at the end of the Contract term that have not been used or
acquired, as the case may be in accordance with the provisions of this Contract or the
HOME Regulations. This provision specifically does not apply to CHDO Proceeds, if
any, which shall be used as described herein. If repayments, interest or other returns on
investment attributable to HOME Funds are received after the end of the term of this
Contract they shall be returned to City to be deposited in accordance with HOME
Regulations. FW-EHP agrees that it will reimburse City for any expenditure of HOME
Funds disallowed by HUD through its audit exception or other monetary compliance
enforcement action. Any HOME Funds invested in housing that fails to meet
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FW-Eastland Housing Partners
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REV. 3-31-09
affordability requirements for the Affordability Period must be repaid to City in
accordance with HOME Regulations.
13. Affirmative Marketing
FW-EHP must adopt affirmative marketing procedures and requirements for all HOME
funded housing. The procedures and requirements must include methods for informing
the public, owners, and potential tenants about Fair housing laws and policies so as to
ensure that all individuals, without regard for race, color, sex, gender, religion, national
origin, familial status, disability or perceived disability, are given an equal opportunity to
participate in the Project. FW-EHP will be solely responsible for the effective marketing
responsibilities necessary to achieve FW-EHP's Project goals.
14. Recordkeeping
a. FW-EHP will keep or cause to be kept an accurate record of all actions taken and
all funds expended in performance of this Contract. Such records and any source
documents shall be kept for the Affordability Period.
b. FW-EHP will obtain and keep on file the following information on each tenant
served by the HOME -assisted units of the Project throughout the Affordability
Period:
1. Annual income and size of the household.
2. Race and ethnicity of each tenant household, using reporting categories
required by HUD.
3. Whether the head of household is male or female, whether the head of
household is single, whether any member of the household is disabled, and
the number of any children in the household (if any).
4. Unit number and bedroom size of each HOME -assisted unit.
5. Type of any rental assistance being provided to each tenant, (i.e. Housing
Choice Voucher, Supportive Housing Program, other federally funded
rental assistance, etc.).
6. Any additional Project performance data and statistical information as
may be required by the City Housing Department, HOME Regulations or
other HUD regulations and any amendments thereto.
c. FW-EHP will keep on file the following information and documentation:
1. Proof that the Project meets applicable property, building construction and
housing quality standards.
2. Documentation verifying compliance with affirmative marketing
requirements and existence of acceptable procedures.
3. Documentation verifying compliance with FW-EHP's temporary
relocation plan and HUD relocation requirements, as applicable.
4. Documentation and other information verifying compliance with HOME
conflict of interest regulations at 24 CFR 92.356(f), which provide that no
officers, agents, consultants or employees of the developer of HOME -
Assisted units may occupy such units.
d. City will monitor and inspect the Project throughout the Affordability Period to
ensure continues compliance with rent restrictions, low-income occupancy
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FW-Eastland Housing Partners REV. 3-31-09
requirements, and property standards. FW-EHP shall maintain tenant income
recertification documentation in the tenant files available for inspection by City.
15. Reports.
FW-EHP shall furnish the reports as shown on Exhibit "E" — Reporting Requirements
During the Affordability Period, FW-EHP shall submit unit rents including utility
allowances, income verification and beneficiary data within thirty (30) days after
obtaining full occupancy, and annually thereafter due by the 15th day of the third month
after the end of the calendar year.
During the term of this Contract, FW-EHP will submit to City monthly activity reports
and financial reports due by the 15th of each month, regarding the services provided by
FW-EHP as a result of this Contract and the expenses charged to the HOME Funds
provided through this Contract, with the first report due on the 15th of the month
immediately following execution of this Contract. These reports shall be submitted in the
format specified by City. The reports will provide details on.
a. Progress toward achievement of objectives identified in Exhibit "A" — Project
Summary.
b. The dollar amount of funds leveraged by this Contract, including any items that
qualify as HOME match.
FW-EHP will submit to City annually during the Affordability Period a copy of its
financial audit and the report FW-EHP provides to TDHCA for LIHTC reporting
purposes.
16. Cost Principles/Audit Requirements.
FW-EHP shall administer the Project in compliance with all applicable federal
regulations as amended from time to time and in compliance with the following:
a. All non-federal entities that expend $500,000.00 or more in Federal funds within
one year, regardless of the source of the Federal award, must submit to City an
annual audit after construction of the Project is completed prepared in accordance
with specific reference to OMB Circular A-133, "Audits of States, Local
Governments, and Non -Profit Organizations" or, if not applicable, the audit shall
meet all of the general standards set forth in Go>>ernment Auditing Standards by
the Texas Department of Housing and Community Affairs for Properties
ReceNing Lo-m� Income Housing Tax Credits. The audit may cover either FW-
EHP's fiscal year during which this Contract is in force or cover the term of this
Contract. The audit must be prepared by an independent certified public
accountant, be completed within twelve (12) months following the end of the
period being audited and be submitted to City within thirty (30) days of its
completion. FW-EHP's audit certification is attached hereto as Exhibit "D" —
Audit Certification Form and Audit Requirements, and shall apply only to the
extent applicable. If applicable, the Audit Certification Form must be submitted
to City within sixty (60) days of the end of the period being audited (FW-EHP's
fiscal year). Costs of preparation of this audit may be an allowable expenditure of
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FW-Eastland Housing Partners
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REV. 3 -31-09
Federal funds m anamount proportional to that of the Federal Funds used in FW-
EHP's total agency operating budget as applicable. Non-profit entities that
expend less than $500,000.00 a year in Federal funds are exempt from Federal
audit requirements for that year, but records must be available for review or audit
by appropriate officials of the Federal agency, city, and General Accounting
Office.
b. City reserves the right to perform an audit of FW-EHP's Project operations and
finances at any time during the term of this Contract if City determines that such
audit is necessary for City's compliance with federal rules and regulations
governing the Project and the use of the HOME Funds and FW-EHP agrees to
allow access to all pertinent materials including but not limited to those records
and reports described above. If such audit reveals a questioned practice or
expenditure, such questions must be resolved within fifteen (15) days after notice
to FW-EHP of such questioned practice or expenditure. If questions are not
resolved within this period, City reserves the right to withhold further funding
under this Contract and/or future contract(s) with FW-EHP.
c. If as a result of any audit it is determined that FW-EHP has misused, misapplied
or misappropriated all or any part of the HOME Funds, FW-EHP agrees to
reimburse the City the amount of such monies so misused, misapplied or
misappropriated, plus the amount of any sanctions, penalty or other charge levied
against City by HUD because of such misuse, misapplication or misappropriation.
17. Monitor Effectiveness of Services and Work
City will review the activities and performance of FW-EHP for this Project not less than
annually during the term of the Contract as required in Section 92.504 of the HOME
Regulations and not less than every three (3) years during the Affordability Period
following completion of construction of the HOME -assisted units as required by Section
92.504(d)(1) of the HOME Regulations. Monitoring during the Affordability Period
shall include on -site inspection of all HOME -assisted units no less than every three (3)
years during the Affordability Period, and review of tenant income documentation
described in this Contract.
FW-EHP agrees to fully cooperate with City in monitoring the effectiveness of the
services and work to be performed by FW-EHP in compliance with the terms of this
Contract. City shall have access at all reasonable hours for the purpose of such
monitoring to offices and records of FW-EHP, its officers, directors, agents, employees,
and contractors and subcontractors dealing with the use of the HOME Funds.
FW-EHP agrees to likewise monitor the effectiveness of the services and work to be
performed by its contractors and subcontractors.
18. Assignment. FW-EHP shall not assign all or any part of its rights, privileges, or duti
mes
under this Contract without City's prior written consent, which shall not be unreasonably
withheld. Any attempted assignment of this Contract without approval shall be void, and
shall constitute a breach of this Contract. It is agreed that City has the right to inspect
and approve in writing any proposed contracts between FW-EHP and any contractor (and
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FW-Eastland Housing Partners
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where applicable, between FW-EHP's contractors and their subcontractors) engaged in
any activity in conjunction with this HOME -funded project prior to any charges being
incurred.
19. Certification RegardingLobby ng. The undersigned representative of FW-EHP hereby
certifies, to the best of his or her knowledge and belief, that:
No Federal appropriated funds have been paid or will be paid, by or on
behalf of FW-EHP, to any person for influencing or attempting to
influence an officer or employee of any agency, a member of Congress, an
officer or employee of Congress in connection with the awarding of any
Federal contract, the making of any Federal grant, the making of any
Federal loan, the entering into of any cooperative agreement and the
extension, continuation, renewal, amendment, or modification of any
Federal contract, grant, loan or cooperative agreement.
If any funds other than federally appropriated funds have been paid or will
be paid to any person for influencing or attempting to influence an officer
or employee of any agency, member of Congress in connection with this
Federal contract, grant, loan or cooperative agreement, FW-EHP shall
complete and submit Standard Form-LLL, "Disclosure Form to Report
Lobbying," in accordance with its instructions.
This certification is a material representation of fact upon which reliance
was placed when this Contract was made or entered into. Submission of
this certificate is a prerequisite for making or entering into this Contract
imposed by 31 USC Section 1352. Any person who fails to file the
required certification shall be subject to a civil penalty of not less than
$10,000.00 and not more than $100,000.00 for each such failure.
FW-EHP shall require that the language of this certification be included in all contracts or
agreements involving the expenditure of Federal funds.
20. Indemnification.
FW-EHP COVENANTS AND AGREES TO INDEMNIFY, HOLD HARMLESS
AND DEFEND, AT ITS OWN EXPENSE, CITY AND ITS OFFICERS, AGENTS,
SERVANTS AND EMPLOYEES FROM AND AGAINST ANY AND ALL
CLAIMS OR SUITS FOR PROPERTY LOSS OR DAMAGE AND/OR
PERSONAL INJURY, INCLUDING DEATH, TO ANY AND ALL PERSONS, OF
WHATSOEVER KIND OR CHARACTER, WHETHER REAL OR ASSERTED,
ARISING OUT OF OR IN CONNECTION WITH THE EXECUTION,
PERFORMANCE, ATTEMPTED PERFORMANCE OR NONPERFORMANCE
OF THIS CONTRACT AND/OR THE OPERATIONS, ACTIVITIES AND
SERVICES OF THE PROJECT DESCRIBED HEREIN, WHETHER OR NOT
CAUSED IN WHOLE OR IN PART, BY ALLEGED NEGLIGENCE OF
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FW-Eastland Housing Partners REV. 3-31-09
OFFICERS, AGENTS, SERVANTS, EMPLOYEES, CONTRACTORS OR
SUBCONTRACTORS OF CITY; AND FW-EHP HEREBY ASSUMES ALL
LIABILITY AND RESPONSIBILITY OF CITY AND ITS OFFICERS, AGENTS,
SERVANTS, AND EMPLOYEES FOR ANY AND ALL CLAIMS OR SUITS FOR
PROPERTY LOSS OR DAMAGE AND/OR PERSONAL INJURY, INCLUDING
DEATH, TO ANY AND ALL PERSONS, OF WHATSOEVER KINDS OR
CHARACTER, WHETHER REAL OR ASSERTED, ARISING OUT OF OR IN
CONNECTION WITH THE EXECUTION, PERFORMANCE, ATTEMPTED
PERFORMANCE OR NONPERFORMANCE OF THIS CONTRACT AND
AGREEMENT AND/OR THE OPERATIONS, ACTIVITIES AND SERVICES OF
THE PROJECT DESCRIBED HEREIN, WHETHER OR NOT CAUSED IN
WHOLE OR IN PART BY ALLEGED NEGLIGENCE OF OFFICERS, AGENTS,
SERVANTS, EMPLOYEES, CONTRACTORS OR SUBCONTRACTORS OF
CITY. FW-EHP LIKEWISE COVENANTS AND AGREES TO AND DOES
HEREBY INDEMNIFY AND HOLD HARMLESS CITY FROM AND AGAINST
ANY AND ALL INJURY, DAMAGE OR DESTRUCTION OF PROPERTY OF
CITY, ARISING OUT OF OR IN CONNECTION WITH ALL ACTS OR
OMISSIONS OF FW-EHP, ITS OFFICERS, MEMBERS, AGENTS,
EMPLOYEES, CONTRACTORS, SUBCONTRACTORS, INVITEES,
LICENSEES, OR PROJECT PARTICIPANTS, OR CAUSED, IN WHOLE OR IN
PART, BY ALLEGED NEGLIGENCE OF OFFICERS, AGENTS, SERVANTS,
EMPLOYEES, CONTRACTORS OR SUBCONTRACTORS OF CITY.
IT IS THE EXPRESS INTENTION OF THE PARTIES, BOTH FW-EHP AldTD
CITY, THAT THE INDEMNITY PROVIDED FOR THIS SECTION INCLUDES
INDEMNITY BY FW-EHP TO INDEMNIFY AND PROTECT CITY FROM THE
CONSEQUENCES OF CITY'S OWN NEGLIGENCE, WHETHER THAT
NEGLIGENCE IS ALLEGED TO BE THE SOLE OR CONCURRING CAUSE OF
THE INJURY, DAMAGE OR DEATH.
FW-EHP AGREES TO AND SHALL RELEASE CITY, ITS AGENTS,
EMPLOYEES, OFFICERS AND LEGAL REPRESENTATIVES FROM ALL
LIABILITY FOR INJURY, DEATH, DAMAGE OR LOSS TO PERSONS OR
PROPERTY SUSTAINED IN CONNECTION WITH OR INCIDENTAL TO
PERFORMANCE UNDER THIS CONTRACT, EVEN IF THE INJURY, DEATH,
DAMAGE OR LOSS IS CAUSED BY THE CITY'S SOLE OR CONCURRENT
NEGLIGENCE.
FW-EHP SHALL REQUIRE ALL OF ITS CONTRACTORS AND
SUBCONTRACTORS TO INCLUDE IN THEIR CONTRACTS AND
SUBCONTRACTS A RELEASE AND INDEMNITY IN FAVOR OF THE CITY
IN SUBSTANTIALLY THE SAME FORM AS ABOVE.
21. Waiver of Immunity. If FW-EHP, as a charitable or nonprofit organization, has or claims
an immunity or exemption (statutory or otherwise) from and against liability for damages
or injury, including death, to persons or property, it hereby expressly waives its rights to
HOME FUNDS Page 12
FW-Eastland Housing Partners REV. 3-31-09
plead defensively such immunity or exemption as against City. This section shall not be
construed to affect a governmental entity's immunities under constitutional, statutory or
common law.
22. Insurance.
FW-EHP shall furnish to City, in a timely manner, certificates of insurance as proof that
it has secured and paid for policies of commercial insurance as specified herein. Such
insurance shall cover all insurable risks incident to or in connection with the execution,
performance, attempted performance or nonperformance of this Contract. FW-EHP shall
maintain the following coverages and limits thereof.
Commercial General Liability (CGL) Insurance
$500,000 each occurrence
$1,000,000 aggregate limit
Business Automobile Liability Insurance
$1,000,000 each accident on a combined single -limit basis, or
$250,000 Property Damage
$500,000 Bodily Injury per person per occurrence
$2,000,000 Aggregate
Insurance policy shall be endorsed to cover "Any Auto"
Pending availability of the above coverage and at the discretion of the FW-EHP,
the policy shall be the primary responding insurance policy versus a personal auto
insurance policy if or when in the course of FW-EHP's business as contracted
herein.
Workers' Compensation Insurance
Part A: Statutory Limits
Part B: Employer's Liability
$100,000 each accident
$100,000 disease -each employee
$500,000 disease -policy limit
Note: Such insurance shall cover employees performing work on any and all
projects including but not limited to construction, demolition, and rehabilitation.
FW-EHP or its contractors shall maintain coverages. In the event the respective
contractors do not maintain coverage, FW-EHP shall maintain the coverage on
such contractor for each applicable contract.
Directors and Officers Insurance
Optional (Highly Recommended)
Note: This insurance shall cover FW-EHP and any member of its Board
of Directors.
Additional Requirements:
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FW-Eastland Housing Partners
Page 13
REV. 3-31-09
Such insurance amounts shall be revised upward at City's option, and FW-EHP
shall revise such amounts within thirty (30) days following notice to FW-EHP of
such requirements.
FW-EHP will submit to City documentation showing that it has obtained
insurance coverage and has executed bonds as required in this Contract
prior to payment of any monies provided hereunder.
Each insurance policy shall be endorsed to provide City with a minimum sixty
(60) days notice of cancellation, non -renewal, and/or material change in policy
terms or coverage.
Insurance policies required herein shall be endorsed to include City as an
additional insured as its interest may appear. Additional insured parties shall
include employees, officers, agents, and volunteers of the City.
The Workers' Compensation Insurance policy shall be endorsed to include a
waiver of subrogation, also referred to as a waiver of rights of recovery, in favor
of City.
Any failure on part of the City to request certificates) of insurance shall not be
construed as a waiver of such requirement or as a waiver of the insurance
requirements themselves.
Insurers of FW-EHP's insurance policies shall be licensed to do business in the
state of Texas by the Department of Insurance or be otherwise eligible and
authorized to do business in the state of Texas. Insurers shall be acceptable to the
City insofar as their financial strength and solvency and each such company shall
have a current minimum A.M. Best Key Rating Guide rating of A: VII or other
equivalent insurance industry standard rating otherwise approved by City.
Deductible limits on insurance policies shall not exceed $5,000 per occurrence
unless otherwise approved by City.
In the event there are any local, federal or other regulatory insurance or bonding
requirements for the Project and such requirements exceed those specified herein,
the former shall prevail.
As applicable, FW-EHP shall require its contractors to maintain applicable
insurance coverages, limits, and other requirements as those specified herein; and,
FW-EHP shall require its contractors to provide FW-EHP with certificate(s) of
insurance documenting such coverage. Also, FW-EHP shall require its
contractors to have City and FW-EHP endorsed as additional insureds (as their
interest may appear) on their respective insurance policies. FW-EHP shall require
its contractors to maintain builders risk insurance at the limit of applicable
HOME FUNDS
FW-Eastland Housing Partners
Page 14
REV. 3-31-09
projects) costs when the value of materials involved exceeds $10,000 or at a
different limit value as specified by the City of Fort Worth.
C. Duties and Responsibilities of City
l . Disbursement of Funds.
City will furnish HOME Funds for use as stated herein. City will monitor the use of such
funds to ensure appropriate use. Funds shall be disbursed after execution of this Contract
and in compliance with its provisions. Payment to FW-EHP shall require completion of
appropriate City forms and copies of adequate supporting documentation verifying the
eligibility of expenses. Reimbursement of eligible expenses shall be made against the
line item budgets specified in Exhibit "B" — Budget. Requests for payment shall be
made by completing and submitting to City the forms attached to this Contract as
Attachment I — Request for Funds, Attachment II — Expenditures Worksheet, and
Attachment III — Detail Statement of Costs. FW-EHP may not increase or decrease
any HOME -funded line -item amounts of the Budget without City's prior written
approval. No additional funds will be disbursed if the City has not received the necessary
financial reports that account for previously disbursed funds. Costs eligible for
reimbursement may include certain costs directly related to and in support of the Project,
as verified by City, which were incurred prior to execution of this Contract. To further
the purposes of the Project and only as requested in writing by FW-EHP, City may
disburse funds to directly pay FW-EHP vendors in accordance with the City Housing
Department's Disbursement Policyfor CHDOs, hfodel Blocks and Subrecipients.
2. Amount of Funds. It is agreed that the total distribution of HOME Funds made available
to or paid on behalf of FW-EHP during the term of this Contract shall not exceed the total
sum of NINE HUNDRED THOUSAND and NO/100 Dollars ($900,000.00).
D. General Provisions
1. Legal Authority. This Contract is governed by the statute and regulations governing the
HOME program ("HOME Program") pursuant to the HOME Investment Partnerships Act
at Title II of the Cranston Gonzales National Affordable Housing Act of 1990, as
amended, 42 U.S.C. sections 12701 et seq. ("NAHA") and the HOME Investment
Partnerships Program Final Rule, as amended, 24 CFR Part 92 et seq. (the "HOME
Regulations" or "Regulations") which are for the benefit low and very low income
citizens by providing them with affordable housing; and City and FW-EHP agree to
follow these and all other applicable laws.
FW-EHP agrees to comply fully with all applicable laws and regulations that are
currently in effect or that are hereafter amended during the performance of this Contract.
Those laws include, but are not limited to:
• Federal
HOME Investment Partnership Act as set out above
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FW-Eastland Housing Partners REV. 3-31-09
Title VI of the Civil Rights Act of 1964 (42 U.S.C. Sections 2000d et seq.)
including provisions requiring recipients of federal assistance to ensure
meaningful access by person of limited English proficiency
The Fair Housing Act, Title VIII of the Civil Rights Act of 1968 (42 U.S.C.
Sections 3601 et seq.)
Executive Orders 11063, 11246 as amended by 11375 and 12086 and as
supplemented by Department of Labor regulations 41 CFR, Part 60
The Age Discrimination in Employment of 1967
The Age Discrimination Act of 1975 (42 U.S.C. Sections 6101 et seq.)
The Uniform Relocation Assistance and Real Property Acquisition Policies Act of
1970 (42 U.S.C. Sections 4601 et seq. and 49 CFR Part 24) ("URA")
Section 504 of the Rehabilitation Act of 1973 (29 U.S.C. Sections 794 et seq.) and
24 CFR Part 8 where applicable
National Environmental Policy Act of 1969, as amended, 42 U.S.C. sections 4321
et seq. ("NEPA") and the related authorities listed in 24 CFR Part 58.
The Clean Air Act, as amended, (42 U.S.C. Sections 1251 et seq.) and the Clean
Water Act of 1977, as amended (33 U.S.C. Sections 1251 et seq.) and the
related Executive Order 11738. In no event shall any amount of the
assistance provided under this Contract be utilized with respect to a
facility that has given rise to a conviction under the Clean Air Act or the
Clean Water Act.
Immigration Reform and Control Act of 1986 (8 U.S.C. Sections 1101 et seq.)
specifically including the provisions requiring employer verifications of
legal status of its employees
The American with Disabilities Act of 1990 (42 U.S.C. Sections 12101 et seq.),
the Architectural Barriers Act of 1968 as amended (42 U.S.C. sections
4151 et seq.) and the Uniform Federal Accessibility Standards, 24 CFR
Part 40, Appendix A
Regulations at 24 CFR Part 87 related to lobbying, including the requirement that
certifications and disclosures be obtained from all covered persons
Drug Free Workplace Act of 1988 (41 U.S.C. Sections 701 et seq.) and 24 CFR
Part 23, Subpart F
Executive Order 12549 and 24 CFR Part 5.105(c) pertaining to restrictions on
participation by ineligible, debarred or suspended persons or entities
Regulations at 24 CFR Part 882.708(c) pertaining to site and neighborhood
standards for new construction projects
• Certain Requirements Pertaining to Section 3 of the Housing and Urban
Development Act of 1968 as amended (12 U.S.C. Sections 1701 et sep.) and its
related regulations at 24 CFR Part 135
If the work performed under this Contract is on a project assisted under a program
providing direct Federal financial assistance from HUD, Section 3 of 24 CFR
135.38 ("Section 3") requires that the following clause be inserted in all covered
contracts ("Section 3 Clause"):
"A. The work to be performed under this contract is subject to the
requirements of Section 3 of Housing and Urban Development Act of
HOME FiJNDS
FW-Eastland Housing Partners
Page 16
REV. 3-31-09
1968, as amended, 12 U.S.C. section 1701u (Section 3). The purpose of
Section 3 is to ensure that employment and other economic opportunities
generated by HUD assisted or HUD -assisted projects covered by Section
3, shall to the greatest extent feasible, be directed to low- and very -low
income persons, particularly persons who are recipients of HUD assistance
for housing.
B. The parties to this contract agree to comply with HUD's regulations in 24
CFR Part 135, which implement Section 3. As evidenced by their
execution of this contract, the parties to this contract certify that they are
under no contractual or other impediment that would prevent them from
complying with the Part 135 regulations.
C. The contractor agrees to send to each labor organization or representative
of workers with which it has a collective bargaining agreement or other
understanding, if any, a notice advising the labor organization or workers'
representatives of the contractor's commitments under this Section 3
clause and will post copies of the notice in conspicuous places at the work
site where both employees and applicants for training and employment
positions can see the notice. The notice shall describe the Section 3
preference, shall set forth minimum number and job titles subject to hire,
availability of apprentice and training positions, the qualifications for
each; and the name and location of the person(s) taking applications for
each of the positions; and the anticipated date the work shall begin.
D. The contractor agrees that it will include this Section 3 clause in every
subcontract to comply with regulation in 24 CFR Part 135, and agrees to
take appropriate action, as provided in an applicable provision of the
subcontract or in this Section 3 clause, upon finding that the subcontractor
is in violation of the regulations in 24 CFR Part 135. The contractor will
not subcontract with any subcontractor where it has notice or knowledge
that the subcontractor has been found in violation of regulations in 24 CFR
135.
E. The contractor will certify that any vacant employment positions,
including training positions that are filed: (1) after the contractor is
selected but before the contract is executed, and (2) with persons other
than those to whom the regulations of 24 CFR Part 135. The contractor
will not subcontract with any subcontractor where it has notice or
knowledge that the subcontractor has been found in violation of
regulations in 24 CFR 135.
F. Noncompliance with HUD's regulation in 24 CFR Part 135 may result in
sanctions, termination of this contract for default, and debarment or
suspension from future HUD assisted contracts.
G. With respect to work performed in connection with Section 3 covered
Indian housing assistance, section 7(b) of the Indian Self -Determination
and Education Assistance Act (25 U.S.C. section 450e) also applies to the
work to be performed under this Contract. Section 7(b) requires that to the
greatest extent feasible (i) preference and opportunities for training and
employment shall be given to Indians, and (ii) preference in the award of
HOME FUNDS
FW-Eastland Housing Partners
Page 17
REV. 3-31-09
contracts and subcontracts shall be given to Indian organizations and
Indian -owned Economic Enterprises. Parties to this contract that are
subject to the provisions of Section 3 and Section 79b) agree to comply
with Section 3 to the maximum extent feasible, but not in derogation of
compliance with Section 7(b)."
City and FW-EHP understand and agree that, if applicable to the Project,
compliance with the provisions of Section 3, the regulations set forth in 24 CFR
Part 135, and all applicable rules and orders of HUD shall be a condition of the
Federal financial assistance provided to the Project binding upon the City and
FW-EHP, and their respective successors, assigns and the contractors. Failure to
fulfill these requirements shall subject FW-EHP and its contractors and their
respective successors and assigns to those sanctions specified by the Grant
Agreement through which Federal assistance is provided and to such sanctions as
are specified by 24 CFR Part 135.
• Prohibition Against Discrimination
General Statement
FW-EHP, in the execution, performance or attempted performance of this
Contract, will not discriminate against any person because of race, color, sex,
gender, religion, national origin, familial status, disability or perceived disability,
or will FW-EHP permit its officers, members, agents, employees, or Project
participants to engage in such discrimination.
No Discrimination in Employment during the Performance of this Contract
During the performance of this Contract FW-EHP agrees, and will require all its
contractors to agree, as follows.
FW-EHP will not unlawfully discriminate against any employee or applicants for
employment because of race, color, sex, gender, religion, national origin, familial
status, disability or perceived disability. FW-EHP will take affirmative action to
ensure that applicants are hired without regard to race, color, sex, gender, religion,
national origin, familial status, disability or perceived disability and that
employees are treated fairly during employment without regard to their race,
color, sex, gender, religion, national origin, familial status, disability or perceived
disability. Such action shall include, but not be limited to, the following:
employment, upgrading, demotion or transfer, recruitment or recruitment
advertising, layoff or termination, rates of pay or other forms of compensation,
and selection for training, including apprenticeship. FW-EHP agrees to post in
conspicuous places, available to employees and applicants for employment,
notices setting forth the provisions of this nondiscrimination clause.
FW-EHP will, in all solicitations or advertisements for employees placed by or on
behalf of FW-EHP, state that all qualified applicants will receive consideration for
employment without regard to race, color, sex, gender, religion, national origin,
HOME FUNDS
FW-Eastland Housing Partners
Page 18
REV. 3-31-09
familial status, disability or perceived disability.
FW-EHP covenants that neither it nor any of its officers, members, agents,
employees, Project participants or contractors, while engaged in performing this
Contract, shall, in connection with the employment, advancement or discharge of
employees or in connection with the terms, conditions or privileges of their
employment, discriminate against persons because of their age or because of any
disability or perceived disability, except on the basis of a bona fide occupational
qualification, retirement plan or statutory requirement.
FW-EHP further covenants that neither it nor its officers, members, agents,
employees, contractors, Project participants, or persons acting on their behalf,
shall specify, in solicitations or advertisements for employees to work on this
Contract, a maximum age limit for such employment unless the specified
maximum age limit is based upon a bona fide occupational qualification,
retirement plan or statutory requirement.
In accordance with the provisions of the Americans With Disabilities Act of 1990
("ADA"), FW-EHP warrants that it and any of its contractors will not unlawfully
discriminate on the basis of disability in the provision of services to the general
public, nor in the availability, terms and/or conditions of employment for
applicants for employment with, or employees of FW-EHP or any of its
contractors. FW-EHP WARRANTS IT WILL FULLY COMPLY WITH
ADA'S PROVISIONS AND ANY OTHER APPLICABLE FEDERAL,
STATE AND LOCAL LAWS CONCERNING DISABILITY AND WILL
DEFEND, INDEMNIFY AND HOLD CITY HARMLESS AGAINST ANY
CLAIMS OR ALLEGATIONS ASSERTED BY THIRD PARTIES OR
CONTRACTORS AGAINST CITY ARISING OUT OF FW-EHP'S
AND/OR ITS CONTRACTORS' ALLEGED FAILURE TO COMPLY
WITH THE ABOVE -REFERENCED LAWS CONCERNING DISABILITY
DISCRIMINATION IN THE PERFORMANCE OF THIS CONTRACT,
This Contract is made and entered into with reference specifically to the
ordinances codified at Chapter 17, Article III, Division 3 ("Discrimination in
Employment Practices") of the City Code, and FW-EHP hereby covenants and
agrees that FW-EHP, its officers, members, agents, employees and contractors,
have fully complied with all provisions of same and that no employee, applicant
or Project participant has been discriminated against under the terms of such
ordinances by either the FW-EHP or its officers, members, agents, employees or
contractors.
No Discrimination in Housing
FW-EHP will follow all the laws set out in this Contract in the provision of
housing and will not discriminate based upon race, color, religion, sex, gender,
national origin, familial status, disability or perceived disability. FW-EHP will
HOME FUNDS Page 19
FW-Eastland Housing Partners REV. 3-31-09
follow all provisions previously set out in regard to affirmative marketing and
other anti -discrimination provisions.
• Prohibition Against Interest / Conflict of Interest
Persons Covered
This section (Prohibition Against Interest / Conflict of Interest) applies to any
person who is an employee, agent, consultant, officer, contractor, subcontractor,
elected official or appointed official of the Parties to this Contract.
Conflicts Prohibited
No person described in the above paragraph who exercises or has exercised any
function or responsibility with respect to activities assisted with HOME funds or
who is in an position to participate in a decision making process or gain inside
information with regard to these activities, may obtain a financial interest or
benefit from a HOME —assisted activity, or have an interest in any contract,
subcontract or agreement with respect thereto, or the proceeds thereunder, either
for themselves or those with whom they have family or business ties, during the
tenure of this Contract or for one (1) year thereafter.
Exceptions
The only exception shall be those allowed by applicable law or regulations. To
request an exception, the process required by law and regulations shall be
foRowed.
No member, officer or employee of City or its designees or agents; no member of
the governing body of the locality in which the Project is situated; and no other
public official of such locality or localities, who exercises any functions or
responsibilities with respect to the Project funded hereunder during his or her
tenure or for one (1) year thereafter, shall obtain a financial benefit or have any
interest, direct or indirect, in any contract or subcontract or the proceeds thereof,
for work to be performed hereunder. FW-EHP shall incorporate, or cause to be
incorporated, like language prohibiting such interest in all contracts and
subcontracts entered into in connection with the Project.
No officer, employee, member or Project participant of FW-EHP or its
contractors shall have a financial interest, direct or indirect, in this Contract or the
HOME Funds transferred hereunder or be financially interested, directly or
indirectly, in the sale to FW-EHP of any land, materials, supplies or services
purchased with any funds transferred hereunder, except on behalf of FW-EHP as
an officer, or employee. Any willful violation of this paragraph with the
knowledge, expressed or implied, of FW-EHP or its contractors shall render this
Contract voidable by the City.
No officer, employee, agent, consultant, elected official or appointed official of
the participating jurisdiction, FW-EHP or its contractors who exercised any
HOME FUNDS Page 20
FW-Eastland Housing Partners REV. 3-31-09
functions or responsibilities with respect to activities assisted with HOME Funds
or who are in a position to participate in a decision making process or gain inside
information with regard to these activities, may obtain a financial interest or
benefit from a HOME -assisted activity, or have an interest in any contract,
subcontract, or agreement with respect thereto, or the proceeds thereunder, either
for themselves or those with whom they have family or business ties, during their
tenure or for one (1) year thereafter.
In the procurement of property and services by FW-EHP, the conflict of interest
provisions of 24 CFR Part 8536 and 24 CFR Part 84.42, respectively, shall apply.
In all cases not governed by those sections, the provisions of 24 CFR Part 92.356
of the HOME regulations shall apply.
• Minority and Women Business Enterprise Commitment
FW-EHP agrees to abide by the City's policy to involve Minority and Women
Business Enterprises ("M/WBEs") in all phases of its procurement practices and
to provide them equal opportunity to compete for contracts for construction,
provision of professional services, purchase of equipment and supplies and
provision of other services required by City. Therefore, FW-EHP agrees to
incorporate City Ordinance No. 15530, and all amendments or successor policies
thereto, into all contracts and subcontracts and will further require all persons or
entities with whom it contracts to comply with said ordinance.
2. Termination.
C_i�: City may terminate this Contract in the event of FW-EHP's default, inability or
failure to perform, or whenever such termination is determined by the City to be in the
City's best interest. City shall notify FW-EHP in writing of any breach of this Contract
and specify a reasonable time to cure the breach. If FW-EHP fails to cure the breach
within the time stated in the notice, this Contract shall automatically terminate at the
expiration of the stated time allowed for cure.
FW-EHP: FW-EHP may terminate this Contract if the City does not provide the HOME
Funds set forth in this Contract.
Unused Home Funds. Upon termination, either by FW-EHP or City, FW-EHP will return
to City all unused HOME Funds previously distributed under this Contract within thirty
(30) days of the effective date of Contract termination. City will have no responsibility
or liability for FW-EHP's expenditures or actions occurring after the effective date of
Contract termination.
Affordability and Certain Other Requirements Survive Termination. FW-EHP agrees
that any provision of this Contract that pertain to affordability, tenant eligibility, and City
Building Codes, ordinances and housing quality standards, as well as any applicable
HOME requirements shall survive the termination of this Contract and shall be governed
HOME RIND S
FW-Eastland Housing Partners
Page 21
REV. 3-31-09
by the HOME Regulations and the provisions of the LURA as well as the Loan
Documents securing affordability.
Mutual Agreement, This Contract may be terminated for mutual convenience upon
written agreement of the Parties.
3. Venue. Venue for any action, whether real or asserted, at law or in equity, regarding the
execution, performance, attempted performance or non-performance or any other action
or claim arising out of this Contract shall lie in Tarrant County, Texas.
4. Written Instrument Entire Agreement. This written instrument and the exhibits attached
hereto, which are incorporated by reference and made a part of this Contract for all
purposes, constitute the entire agreement by the City and FW-EHP concerning the work
and services to be performed under this Contract. Any prior or contemporaneous oral or
written agreement which purports to vary the terms of this Contract shall be void. Any
amendments to the terms of this Contract must be in writing and must be approved by
each Party to this Contract.
5. Severable. The provisions of this Contract are severable, and, if for any reason a clause,
sentence, paragraph or other part of this Contract shall be determined to be invalid by a
court or Federal or state agency, board or commission having jurisdiction over the subject
matter hereof, such invalidity shall not affect other provisions which can be given effect
without the invalid provision.
6. No Waiver. The City's failure to insist upon the performance of any term or provision of
this Contract or to exercise any right herein conferred shall not be construed as a waiver
or relinquishment to any extent of the City's right to assert or rely upon any such term or
right on any future occasion.
7. Paragraph Headings. The paragraph headings contained herein are for convenience in
reference to this Contract and are not intended to define or to limit the scope of any
provision of this Contract.
8. Miscellaneous Provisions.
All terms of this Contract shall apply to any and all contractors of FW-EHP who are in
any way paid with HOME Funds or who perform any work in connection with the
Proj ect.
All notices required or permitted by this Contract must be in writing and are deemed
delivered on the earlier date of the date actually received or the third day following (i)
deposit in a Untied States Postal Service post office or receptacle; (ii) with proper
postage, certified mail return receipt requested; and (iii) addressed to the other Party at
the address set out in the preamble of this Contract or at such other address as the
receiving Party designates by proper notice to the sending Party.
If applicable, FW-EHP must meet conditions and limitations for use of HOME Funds
HOME FUNDS Page 22
FW-Eastland Housing Partners REV. 3-31-09
involving a primarily religious entity asset forth in the HOME Regulations.
If applicable, FW-EHP shall notify City in writing of any changes in its 501 (c) (D) tax
exempt status during the term of this Contract.
[SIGNATURES APPEAR ON FOLLOWING PAGE]
HOME FUNDS Page 23
FW-Eastland Housing Partners REV. 3-31-09
IN 'WITNESS WHEREOF, the Parties have
Worth, Tarrant County, Texas, this �A '-�day of _
I_1
T:
M&C: C-Z2164
APPROVED AS TO
Assistant City Attorney
CITY
four copies of this Contract in Fort
a , 2009.
FORT WORTH
By: v i i
�L •T. M. Higgins,
;17�17.�1y1
AND LEGALITY:
-aar��
Contract Authoriaatiox
baba Y --
FVJ-Eastland Housing Partners, Ltd.
By: I�TDG-Eastland, LLC
Its General Partner
Robert G. Hoskins, Manager
STATE OF TEXAS �
COUNTY OF TARRANT §
This instrument was acknowledged before me on vio nl' 2009. by
T.M. Higgins, Assistant City Manager of the City of Fort orth, on behalf the City of Fort
Vdorth.
STATE OF.
MARIA S. SANCHEZ
NOTARY PUBLIC
STATE OF TEXAS
My Comm. Exp. 1 2-1 42009
0
l:U UiV'1' Y Utz '}-U l trSyli $ r �,
This instrument was acknowledged before me on lil c� llJ 2009,
by Robert G. Hoskins, Manager of NDG-Eastland. LLC, a Texas limited liability company, the
General Partner of FWd Eastland Housing Partners, Ltd. a Texas limited partnership, on behalf of
said limited partnership.
otarSPublic. State of
FVJ-Eastland Housing Partners
Page 24
REV. 3-31-09
EXHIBIT
66E99
PROJECT SUMMARY RY
SCOPE OF WORK
FW-EASTLAND HOUSING PARTNERS, LTD. ("FW-EHP")
RESIDENCES AT EASTLAND
DESCRIPTION:
FW-Eastland Housing Partners, Ltd., will construct a 146-unit affordable housing
apartment complex known as the Residences at Eastland, located at 5500 Eastland Street,
Fort Worth, TX 76119 (the "Project"). Primary funding for the Project will be from Low
Income Housing Tax Credits ("LIHTC") allocated by the Texas Department of Housing
and Community Affairs ("TDHCA"). The Project will be constructed in accordance with
the LIHTC proposal and all applicable amendments submitted to TDHCA during the 2007
application round. For the twenty (20) year HOME -required Affordability Period, the
Project will be managed by NuRock Management Group, LLC (or an affiliate) in
compliance with this Contract and applicable provisions of all HOME Regulations
governing rental projects. All units in the Project will be affordable to households at or
below 60% of Area Median Income ("AMI") as established by HUD.
The HOME Funds will be provided in the form of a two year balloon loan, with simple
interest at the Applicable Federal Rate for short term debt in effect at the time of Loan
closing. Interest shall be paid monthly. Payment of all principal and any accrued but
unpaid interest will be due and payable on the second anniversary date of execution of the
Loan Documents. The Loan will be personally guaranteed by Robert G. Hoskins and
Sandra K. Hoskins. In consideration for HOME Funds provided through this Contract,
FW-EHP agrees to provide the following information and meet the following requirements.
• Designate ten (10) units in Project as HOME -assisted units, affordable to low-
income tenants at 60% of AMI or below. The bedroom sizes of the designated
HOME -assisted units shall be six (6) two -bedroom units, and four (4) three -bedroom
units. These units shall not be fixed, but shall "float" throughout the Project.
• During lease -up period, and until Project is fully leased, on a monthly basis, report
summary beneficiary data regarding the household income, size, race, ethnicity,
gender of head of household, disability status, and rental assistance type for all
tenants residing in HOME -assisted units, on Form E-2 - Beneficiary Performance
Report.
• During the Affordability Period, submit to City annually a copy of FW-EHP'S
annual audit, and TDHCA LIHTC compliance report.
SPECIFIC PURPOSE: The specific purpose of this Project is to increase the availability of
decent affordable housing for low income City residents.
PROJECT OBJECTIVES: Construction of affordable housing project to create 146 new
units. Ten (10) of these units will be dedicated HOME -assisted units, with aper-unit
subsidy amount of $90,000.00 per unit ($900,000.00/10 = $90,000.00).
HOME Funds -Exhibits Page 1
Residences At Eastland
EXHIBIT "B"
PROJECT BUDGET
FW-EASTLAND HOUSING PARTNERS, LTD. ("FW-EHP")
Residences at Eastland
SOURCES OF FUNDS
City of Fort Worth HOME funds $900,000
Wachovia Bank $4,700,000
Trinity Victory Family Ministries $360,000
HTC Syndication Proceeds $10,798,920
Deferred Developer Fees $6012026
TOTAL $16,459,946
Acquisition Cost -Purchase of Land
Sitework
Direct Construction Cost
Contingency & Fees
Contractor's Fees
Indirect Construction
Ineligible Costs
Developer's Fee
Interim Financing
Development Reserves
TOTAL
$802,000
$831,000
$910952000
$495,000
$11390s566
$491,000
$751,380
$12935,000
$523,000
146 000
$16,4593946
HOME Funds -Exhibits Page 2
Residences At Eastland
EXHIBIT
PROJECT IMPLEMENTATION TIMELINE
FW-EASTLAND HOUSING PARTNERS, LTD. ("FW-EHP")
Tax Credit Award
Basic NEZ Incentives
Begin Construction
HOME LOAN CLOSING
HOME FUNDS REPAID
Construction Completion
ACQUISTION SCHEDULE
July, 2007
January, 2007
Late August, 2008
2009
2 years from date of Loan Documents
September, 2009
LEASE -UP, INSPECTION &REPORT SCHEDULE
TARGET
DESCRIPTION
DATE/ACTIVITY
April, 2009 to May,
During the Contract term, FW-EHP will submit monthly and/or quarterly
2011
program and financial reports as designated by the City.
May, 2008
Tax Credit and Construction Loan Closing - FW-EHP will execute all City
Loan documents necessary to secure the City's HOME Funds investment in
the Project. These documents will include, but not be limited to, a
subordinate note and deed of trust on the Property.
August, 2008
FW-EHP will begin construction on 146-unit Residences at Eastland complex.
August, 2009
Tenant lease up begins; Designation by unit of the ten (10) floating HOME -
assisted units for that year, and the status report on occupancy of those units
and income eligibility of the tenants.
Annual Inspections
Annual On -Site inspection to occur each year during Affordability Period
Reporting
FW-EHP shall furnish City with the following information:
a) during lease -up and until Project is fully leased, on a monthly
basis, summary beneficiary data regarding the household
income, size, race, ethnicity, gender of head of household,
disability status and rental assistance type for all tenants.
b) During the 20 year Affordability Period, copy of rent rolls and
copy of lease forms used.
c) Other such information as may be necessary to verify
compliance with HOME Regulations.
d) Report of HOME match should be reported quarterly each
month from date of Contract.
HOME Funds -Exhibits Page 3
Residences At Eastland
EXHIBIT "D"
AUDIT REQUIREMENTS
FW-EASTLAND HOUSING PARTNERS, LTD. ("FW-EHP")
CITY OF FORT WORTH HOUSING AND ECONOMIC DEVELOPMENT DEPARTMENT
AUDIT REQUIREMENTS
Organizations expending $500,000 or more in federal awards (from City of Fort Worth and other funding
sources) during their fiscal years shall obtain either an annual single audit or a program specific audit.
Organizations may have a program specific audit in accordance with OMB Circular A433, or other standard
set forth in the Contract if applicable, if they expended funds for only one federal program as listed in the
Catalog of Federal Domestic Assistance (CFDA). If funds are spent for more than one federal program, a
single audit is required. The audited time period is the organization's fiscal year, and not the City of Fort
Worth's funding period.
The audit shall be conducted by a certified public accountant (CPA) that is licensed at the time of the audit
by the appropriate regulatory body. The CPA shall meet all of the general standards concerning
qualifications, independence, due professional care and quality control as required by Government Auditing
Standards, including the requirements for continuing professional education and external peer reviews.
Auditor selection must adhere to federal procurement requirements.
A separate supplementary schedule of revenues, expenditures and changes in fund balance for each City
of Fort Worth contract is no longer required. The Schedule of Expenditures of Federal Awards should list
City of Fort Worth 's contract numbers, the total expended for each individual federal program, and the
CFDA number (OMB A-133 § .310).
The independent auditor's report should include all of the relevant items listed on the "Audit Report
Checklist." Additional guidance on the conduct and reporting of these audits is contained in the latest issuance
of the following publications:
Government Auditing Standards issued by the Comptroller General of the United States, 2003
OMB Circular A-133 as revised 6/30/97 and amended June 2003
OMB Circular A-133 Compliance Supplement
AICPA's Statement of Position 9&3, "Audits of States, Local Governments, and Not -for -Profit Organizations
Receiving Federal Awards"
Various AICPA audit guides for nonprofits, colleges and universities and health and welfare organizations
AICPA's Audit Risk Alert "State and Local Governmental Developments"
Government Auditing Standards by the Texas Department of Housing and Community Affairs for Properties
Receiving Low Income Housing Tax Credits
All organizations that receive a City of Fort Worth award must submit the provided Audit Certification Form
which certifies whether you are subject to a single/program audit. Organizations receiving federal awards
from the City of Fort Worth who are not required to have an audit shall certify in writing to the agency.
The organization's Chief Executive Officer or Chief Financial Officer shall make the certification within
60 days of the end of the organization's fiscal year in the year that the project was completed.
The following items should be submitted to the City of Fort Worth Housing and Economic Development
Department within the required timeframe:
HOME Funds -Exhibits Page 4
Residences At Eastland
Due 60 days after organization's fiscal year end in the year that the project was completed: (required for all
subrecipients)
Completed Audit Certification Form
Due within the earlier of 30 days after receipt of the auditor's report or nine months after the end of the audit
ep nod.
Two copies of the entire audit report issued by the CPA
Two copies of any management letter issued by the CPA in conjunction with the audit report
Two copies of management's comments on all findings, recommendations, & questioned
costs contained in the audit report and management letter, including a detailed corrective
action plan
Failure to submit any of these items by the required due date may result in holds on current draw
requests, suspension of the organization's contract(s) and eligibility for future funding.
If the organization does not meet the requirements of having asingle/program audit conducted, records
must still be kept available for review or audit by City of Fort Worth staff (OMB A433 Subpart B Sec 200(d).
If additional information is needed concerning the audit requirements, please call (817) 392-6141.
HOME Funds -Exhibits Page 5
Residences At Eastland
CITY OF FORT WORTH
HOUSING AND ECONOMIC DEVELOPMENT DEPARTMENT
SINGLE AUDIT REPORT CHECKLIST
The Department developed this checklist to help organizations improve the quality and completeness of
audit reports.
General Purpose or Basic Financial Statements of the Organization Opinion/Report on Organization's Financial
Statements in accordance with Government Auditing Standards
Notes to the General Purpose or Basic Financial Statements of the Organization
A Schedule of Expenditures of Federal Awards, including the Department's contract numbers, the total
expended for the federal program, and the CFDA number (OMB A433 Subpart C Sec 310).
Opinion/Report on Schedule of Expenditures of Federal and State Awards
Report on Compliance and on Internals Control Over Financial Reporting_Based on an Audit of Financial
Statements Performed in Accordance With Government Auditing Standards. (OMB A-133 § 505 (b))
Report on Compliance with Requirements Applicable to Each Major Program and Internal Control over
Compliance in Accordance with OMB Circular A-133. (OMB A.133 § 505 (c))
Schedule of Findings and Questioned Costs (OMB A-133 §. SOSd), including: Summary Schedule of Prior Audit
Findings reporting the status of all findings included in the prior audit's schedule of findings and questioned
costs. (OMB A433 Sec. 315 (a) and (b))
Corrective Action Plan including (OMB A-133 Sec. 315 (c)) name of person responsible for the corrective
action, corrective action planned, anticipated completion date, and explanation and reason if auditee
does not agree with findings or believes correction is not required.
All reports are signed and dated by the auditor
Two copies of the audit reports are submitted
Two copies of the management letter, if issued in conjunction with the audit report. Two copies of
comments by management concerning all findings and recommendations included in
management letter, including a corrective action plan.
HOME Funds -Exhibits Page 6
Residences At Eastland
ITY OF FORT WORTH HOUSING AND ECONOMIC DEVELOPMENT DEPARTMENT
Audit Certification Form
Subrecipient:
Fiscal Year Ending:
Month Day Year
❑ We have exceeded the federal expenditure threshold of $500,000. We will have our Single Audit or
Program Specific Audit completed and will submit the audit report within nine (9) months after the end of the
audited fiscal year.
❑ We did not exceed the $5005000 federal expenditure threshold required for a Single Audit or a Program
Specific Audit to be performed this fiscal year. (Fill out schedule below)
Must be filled out if Single Audit or Program Audit is not required.
Federal Expenditure Disclosure
Federal Funds
Pass Through Program Name &
Total Federal Expenditures for this Fiscal Year
Printed Naine
Contract
0
Expenditures
Title (Must be CFO, CEO or equivalent)
Authorized Signature (Must be CFO, CEO or equivalent) Phone Number
Date
Failure to submit this or a similar statement or failure to submit a completed single audit package as
described in the audit requirements by the required due date will result in suspension of funding and will affect
eligibility for future funding.
Submit this form to the City of Fort Worth Housing and Economic Development Department within 60 days after the end of your
Fiscal year
HOME Funds -Exhibits Page 7
Residences At Eastland
EXHIBIT "E"
REPORTING REQUIREMENTS
FW-EASTLAND HOUSING PARTNERS, LTD. ("FW-EHP")
Project Pro reg ss Report. Within fifteen (15) days following the end of each quarter during the term of the Contract,
FW-EHP must submit a report detailing Project construction progress, the percent of construction completion,
anticipated construction completion date and any construction problems encountered and solutions proposed.
Submissions must be signed by a duly authorized agent of FW-EHP (Form E-1).
Beneficiary Performance Report. During lease -up period, and until Project is fully leased, on a monthly basis,
report summary beneficiary data regarding the household income, size, race, ethnicity, gender of head of
household, disability status, and rental assistance type for all tenants residing in HOME -assisted units (Form E-
2). After the end of the term of the Contract during the Affordability Period, FW-EHP shall submit this report
at least annually on for all tenants residing in HOME -assisted units. The annual report during the Affordability
Period shall be due by the 151h day of the third month after the end of the calendar year.
HOME Match Report Within fifteen (15) days following the end of each calendar quarter during the term of the
Contract, a report detailing HOME Match Dollars Submissions will be signed by the duly authorized agent of FW-
EHP (Form E-3).
M/WBE Compliance. An M/WBE Monthly Participation Report must be submitted monthly to City's M/WBE
Office and the Housing and Economic Development Department until the Contract is completed. The first report
will be due ninety (90) days after commencement of work. The monthly report must have an original signature to
ensure accountability for audit purposes. These reports are to be submitted regardless of whether or not M/WBEs
were utilized. If there was no activity by an M/WBE in a particular month, place a "0" or "no participation" in the
spaces provided, and provide a brief explanation. Provide the City's M/WBE office with proof of payment to your
M/WBE subcontractors and suppliers (Form E4).
Final Summar�Payment Report. Upon completion of the Project, or within ten (10) days after receipt of final
payment from the City, whichever is later, FW-EHP shall provide the Housing Department with a Prime
Contractor's/Consultant's Final Summary Payment Report to reflect the total participation from ALL
subcontractors/suppliers utilized on the Project (Form E-5).
TDHCA Certificate Fr ]Mio" . Within thirty (30) days of completion of the construction of Project, a duly
authorized agent of FW-EHP must provide the City with a copy of the TDHCA HOME Investment Partnerships
Program Certificate of Completion report.
Annual Owner's Compliance Report. Each year during the Affordability Period, FW-EHP will provide the City a
copy of the TDHCA Annual Owner's Compliance Report ,Parts A, B, C, and D, no later than March 1st of year
following the reporting year.
Rent Rolls and Lease Forms. Annually during the Affordability Period, FW-EHP shall provide the City with copies
of rent rolls and copies of the lease forms used.
HOME Funds -Exhibits Page 8
Residences At Eastland
PROJECT PROGRESS REPORT
FROM:
TO:
Form &I
Please provide information on project construction progress, the percent of construction completion, anticipated
construction completion date, and; construction problems encountered and solutions proposed.
I. ACCOMPLISHMENTS:
II. ADDITIONAL COMMENTS REGARDING ACCOMPLISHMENTS THIS MONTH:
III. PROBLEMS ENCOUNTERED AND SOLUTIONS PROPOSED:
IV. ANTICIPATED ACTIVITIES DURING NEXT MONTH:
HOME Funds -Exhibits Page 9
Residences At Eastland
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HOME Match Reporting Form
For Subrecipient & CHDO Agencies
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Contract No.
Month Ending
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Date
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Description & Source*
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Example: First Presbyterian Church donation; 1940 Spring St.
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Example: Whirlpool Appliances, 1950, 1952, & 1965 Spring St.
71000
12000
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address on attached letter)
$1000
In -Kind: Value of Volunteer Hours
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$3000
(See attached volunteer log)
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Example: Reduced price purchase of city -owned vacant lots,
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$8600
Example: NEZ Building Permit Fee Waivers, Travis Ave.
$1500
Total, All Match Contributions
* Copies of supporting documentation should be attached: Letters from donors; Copies of donor checks or invoices showing reduced
prices; copies of volcmteer log with hocrrs worked by address; copies of supplier invoices for donated materials; copies of
documentation regardingfee waivers or tax abatements.
HOME Funds -Exhibits Page 13
Residences At Eastland
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��&C Review
Page 1 of 2
Official site of the City of Fort Worth, Texas
CONTINUED FROM A PREVIOUS WEEK
DATE: 6/5/2007 REFERENCE NO.: C-22164 LOG NAME: 05EASTLAND
CODE: C TYPE: NON -CONSENT PUBLIC NO
HEARING:
SUBJECT: Approve an Interim Construction Loan to FW-Eastland Housing Partners, Ltd., Utilizing City
HOME Funds Conditioned on an Award of Low Income Housing Tax Credits
RECOMMENDATION:
It is recommended that the City Council:
1. Approve an interim subordinate construction loan to FW-Eastland Housing Partners, Ltd., in the
amount of $900,000 from the City of Fort Worth utilizing its HOME Program Fund Allocation
conditioned on an award of Low Income Housing Tax Credits (LIHTC) by the Texas Department of
Housing and Community Affairs (TDHCA);
2. Authorize the City Manager or his designee to execute a contract for the project with FW-Eastland
Housing Partners, Ltd. for a two year term beginning on the date of execution of the contract;
3. Authorize the City Manager or his designee to amend the contract if necessary to achieve project
goals provided that the amendment is within the scope of the project and in compliance with
applicable laws and regulations governing federal grant funds.
DISCUSSION:
FW-Eastland Housing Partners, Ltd., has requested subordinate interim financing in the amount of
$900,000.00 for the construction of a 146-unit rental complex for families located on the south side of
the 5500 block of Eastland Street. The project site consists of 28.4 acres with a 5.1 unit density per
acre. NDG-Eastland, LLC is the general .partner and NuRock Construction TX, LLC is the contractor.
The fourteen -month construction period is anticipated to begin September 2008 and be completed in
November 2009. The development will feature NuRock Housing Foundation's BreakOutT""
supervised after-school/summer camp program, a swimming pool, a computer lab, a fitness center,
and other resident services.
Total project cost is $16,459,946 including HOME funds. The loan of $900,000 from HOME funds
contributes $6,164 towards the total per unit cost of $112,739. The leverage ratio for the HOME
Program funds is 1 to 18.3 and will produce 9 HOME assisted units. The interest rate will be the
applicable Federal Funds rate, adjusted quarterly. In addition to a subordinate Deed of Trust on the
http://apps.cfwnet.org/council�acket/mc review.asp?ID=7584&councildate=6/I2/2007 4/28/2009
Page 2 of 2
real property, the HOME funds will be secured by a personal guaranty by Robert G. Hoskins, the
President of The NuRock Companies. The loan will be repaid at maturity or permanent take-out,
whichever occurs first. Other conditions of the contract include minority and women owned business
participation in accordance with City policy.
The applicant has provided copies of project support letters from State Senator Kim Brimer, State
Representative Marc Veasey, Tarrant County Commissioner Roy Brooks, Fort Worth Councilman
Donavan Wheatfall, Stop Six Sunrise Edition Neighborhood Association, and Ramey Place
Neighborhood Association.
The site is located in the Eastwood community, the Stop Six Neighborhood Empowerment Zone
(NEZ) and COUNCIL DISTRICT 5.
The above recommendations were approved by the Central City Revitalization and Economic
Development Committee on April 3, 2007.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon approval of the above recommendations, funds will be
available in the current operating budget, as appropriated in the grants fund.
TO
Fund/Account/Centers
GR77
539120
005206930XX0
GR76
539120
005206006XX0
GR76
539120
005206006XX0
GR76
539120
005206141XX0
$575,959.41
$28,719.47
$167,424.73
$127,896.39
Submitted for City Manager's Office bv:
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
FROM Fund/Account/Centers
GR76
539120
005206930990
GR76
539120
005206006070
GR76
539120
005206006990
GR76
539120
005206141060
Dale Fisseler (6140)
Jerome Walker (7537)
Charlie Price (7381)
$575,959.41
$28, 719.47
$167,424.73
$127,896.39
http://apps.cfwnet.org/council�acket/mc review.asp?ID=7584&councildate=6/12/2007 4/28/2009