HomeMy WebLinkAboutContract 52528-A2 CITY SECRETARY
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C/jIs�9 q�ly SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO.
52528 Between the City of Fort Worth and Housing Channel
This Amendment("Amendment")is entered into by and between the City of Fort Worth("City')
and the Housing Channel ("Developer")by and through their respective duly authorized agents. City and
Developer may be referred to individually as "Party"and collectively as"Parties."
WHEREAS, City and Developer made and entered into City Secretary Contract No. 52528
("Contract")on July 16,2019;
WHEREAS, the Contract provides funding to Developer pursuant to a grant received by City fi-om
the United States Department of Housing and Urban Development ("HUD") through the HOME
Investment Partnerships Program("HOME?), Catalog of Federal Domestic Assistance No. 14.239;
WHEREAS, the Contract was previously amended by letter agreement on September 25,2020, to
address changes in the City's policy to allow for Developer to keep sales proceeds to use for future affordable
housing development in the city;and
WHEREAS, further amendment is necessary to ensure compliance with the HOME regulations and
to effectuate the agreement of the Parties.
NOW TII + +ORE; the Parties agree to amend the following portions of the Contract:
1.
A. Exhibit "B" Budget attached to the Contract,as amended,is hereby amended and replaced
in its entirety with EXHIBIT "B" Budget, attached hereto.
B. Exhibit "C" Project and Reimbursement Schedule attached to the Contract, as amended, is
hereby amended and replaced in its entirety with EXHIBIT "C" Project and Reimbursement Schedule,
attached hereto.
II.
All terms and conditions of the Contract not amended herein remain unaffected and in full force
and effect, are binding on the Parties and are hereby ratified by the Parties. Capitalized terms not defined
herein shall have the meanings assigned to them in the Contract.
III.
This Amendment shall be binding upon execution by both Parties and shall have an effective date of
December 7,2020.
[SIGNATURES APPEAR ON FOLLOWING PAGE]
OFFICOAL RECORD
CITY SECRETARY
Amendment No.2 to CSC No. 52528 I
FT WOR
CHDO Agreement-Housing Channel 2614 La Salle
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j
ACCEPTED AND AGREE, :
HOUSING CHANNEL CITY OF FORT WORTH
oan&41 Yamv"-S�- l ec-.
By:Donn.Va,IWs(Dec 1,202013:S4CST) By: Fernando Costa(Dec 2,2020 16:21 CST)
Donna VanNess,President Fernando Costa,Assistant City Manager
A APPROVE AS TO FORM AND
LEGALITY:
B ' ••�.• •��`^` o J By• Pate2014:59 CST)
,City Secretary , Jo Ann Pate,Assistant City Attorney
M&C: C-29138 i ' ; 7 Ordinance No. 24161-04-2020
Recommended:
Victor Turner,Director
CONTRACT COMPLIANCE MANAGER:
By signing, I acknowledge that I am the person responsible
for the monitoring and administration of this contract,including
ensuring all Iperformance and reporting requirements
Chad LaRoque(Dec 2,202014:52 CST)
Amendment No. 2 to CSC No. 52528 LFT.
CIAL RECORD
CHDO Agreement—Housing Channel 2614 La Salle Y SECRETARY
WORTH,TX
EXHIBIT"B"
BUDGET
HOUSING CHANNEL
2614 La Salle
Total Cost: $ 225,516
Project HOME Funds Awarded: $87,116
HOME Funds will be paid only as reimbursement for eligible expenses.
Development Budget
Use of Funds Source of Funds
Predevelopment Cost HOME$ OTHER$ SOURCEOFOTHER TOTAL$
FUNDS FUNDS FUNDS FUNDS
(1) (2) (Names) (1+2)
1.Market Study
2.Feasibility (i.e.:preliminary work write-
up,cost estimates,design,bond) 3,620
3.Other:HUD Noise Studv 500
Total Predevelo ment Cost(1+2=3) 4,120 4,120
Development Cost
4.Land and/or building acquisition 18,177 18,177
5.Soft Costs(Utilities,Security,etc.) 1,527 1,527
6.Construction Cost 31,200 124,800 Happy State Bank 156,000
7.Fence
8.Landscape
9.Contingency
10.Appraisal 150 Proceeds 150
11.Architect&Engineering Fees 173 Proceeds 173
12.Construction Management Fee/
Developer Fee
13.Construction Loan Interest 2,677 2,677
14,Property Survey
15,Legal Fees
16.Real Estate Fees 10,830 Proceeds 10,830
17.Utility Hooku /lm act Fees
18.Title&Recording Fees 2,447 Proceeds 2,447
19.Program and Related Espenses
20.Construction Management
21.Bond Fees
Total Development Cost 57,701 138,400 196,101
22.Develop er Fee(15%of Total
Development Costs) 29,415 29,415
Total Cost 87,116 138,400 225,516
CHDO SINGLE FAMILY CONTRACT
Riverside Infill Project
Housing Channel—2614 LaSalle Street Rev 10/29/2020
EXIMIT"C"
PROJECT AND REIMBURSEMENT SCHEDULE
HOUSING CHANNEL
2614 LaSalle Street
Phase Activity Beginning Week—subject to
"weather permitting
PHASE]ACTIVITIES: Contract signed
PHA SE I DEADE�� Land and/or Building Acquisition
PHA SE I DEADLINE: Land
177
10/15/19 1st Payment* '
PHASE II A CTIVI ITES: Site Preparation
Architectural&Engineering Fees
Appraisal,Bond,Market Study
Construction costs
PHASE II DEADLINE: 1 s t Paynnen t* $34,82 0
10/15/19
PHASE IIIACTIVIITES: Construction costs
Soft costs (utilities,security)
PHASE III DEADLINE: 211d Payment* $4,704
7/31/20
PHASEIVACTIVITIES: Construction loan interest
Soft costs (utilities,security)
Developer Fee
PHASE IV DEADLINE: FINAL PAYMENT** $29,415
12/31/20
CONSTRUCTION TOTAL $57,701
DEVELOPERFEE Paid at closing of sale to HOME Eligible $29,415
Buyer per Section 7.8*
*Developer will be reimbursed for eligible expenses only. All vnounts are estimates and are subject to change.
**Exhibit"G"-HOME Project Compliance Report must be submitted prior to reimbursement for Construction Final Payment,
Constnrction Final Payment will not be made ailer closing ofsale to the Eligible HOME Buyer.
CHDO SINGLE FAAI LYCONTRACT
Riverside Street Infill Project
Housing Channel—2614 LaSalle Rev 11/23/2020