HomeMy WebLinkAboutContract 45056-A2j s5EGRETARLY4s
CONTRACT NO9 56 -TA a
SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO. 45056
WHEREAS, on October 30, 2013 the City of Fort Worth ("City") and Tarrant County
Housing Partnership, Inc. ("Developer") made and entered into City Secretary Contract No.
45056 (the "Contract"), as authorized by the City Council in M&C C-25531 adopted on March
27, 2012 which provided $1,115,000 of City's HOME funds to Developer for the development
and construction of up to 10 single family houses in the Hillside-Morningside neighborhood;
WHEREAS, the funding provided to Developer in the Contract was from a grant received
by the City from the United States Department of Housing and Urban Development through the
HOME Investment Partnership Program, Catalog of Federal Domestic Assistance No. 14.239;
WHEREAS, a portion of the City's HOME funds are reserved for the use of certain
housing development entities that qualify under the HOME Regulations as a Community
Housing Development Organization ("CHDO") and Developer is qualified as a CHDO under the
HOME Regulations;
WHEREAS, Developer requested $117,000.00 of HOME CHDO funds for the
construction of a single family house located at 1116 E. Allen to be sold to HOME Eligible
Buyers under the terms and conditions set forth in the Contract;
WHEREAS, the First Amendment increased the line item amounts in Exhibit "B" Project and Reimbursement Schedule and in Exhibit "C" - Budget due to unforeseen
additional costs for the project increasing the total amount of HOME Funds to $125,000.00;
WHEREAS, Developer has requested an additional amendment to increase the line item
amounts listed in Exhibit "B" - Budget and to extend the Completion Deadline in Exhibit "C"
- Project and Reimbursement Schedule due to scheduling issues and the rise in price for
construction materials for the project;
WHEREAS, the environmental review for this house required noise mitigation which
was inadvertently was not detailed in the Contract; and
WHEREAS, it is the mutual desire of City and Developer to amend the Contract to
complete the project and meet Contract objectives.
NOW THEREFORE, City and Developer hereby agree as follows:
I.
Section 2. DEFINITIONS is amended to be and read as follows:
"Completion Deadline means June 30, 2016."
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
CONTRACT AMENDMENT 2 to CSC No. 45056
Tarrant County Housing Partnership, Inc. — 1116 E. Aden
Page 1
Rev. 9/2015
"Home Funds means the HOME Program grant funds supplied by City to
Developer under the terms of this Contract not to exceed $180,286.20, which
includes the costs set forth in Exhibit "B" — Budget and the Developer Fee."
II.
Section 4.1 is amended to be and read as follows:
"4.1 Provide HOME Funds. City shall provide Developer up to
$162,732.00 of HOME Funds in the form of the Loan for eligible expenses for the
development of the house under the terms and conditions described herein "
The first sentence of Section 17. INSURANCE AND BONDING is amended to be and
read as follows:
"Developer will maintain coverage in the form of insurance or bond in the amount
of $162,732.00 to insure against loss from the fraud, theft or dishonesty of any of
Developer's officers, agents, trustee, directors or employees."
III
Exhibit "A-2" - Environmental Mitigation Action, Exhibit "B" - Budget Revised
9/2014, and Exhibit "C" - Project and Reimbursement Schedule Revised 9/2014 attached to
the Contract are hereby replaced with Exhibit "A-2" - Environmental Mitigation Action
Revised 9/2015, Exhibit "B" - Budget Revised 9/2015, and Exhibit "C" - Project and
Reimbursement Schedule Revised 9/2015 attached hereto.
IV.
This amendment is effective as of the Effective Date of the Contract except the
amendment to Section 17 is effective as of the date of this amendment
VII
All other terms and conditions of City Secretary Contract No. 45056 not amended herein
remain unaffected and in full force and effect, are binding upon the Parties, and are hereby
ratified by the Parties. Capitalized terms not defined herein shall have meanings assigned to
them in the Contract.
[SIGNATURES APPEAR ON NEXT PAGE]
CONTRACT AMENDMENT 2 to CSC No. 45056
Tarrant County Housing Pal luership, Inc — 1116 E. Allen
Page 2
Rev. 9/2015
ACCEPTED AND AG
ATTEST:
City Se
M&C C-25531
Date:
VED AS TO FO
•
CITY OF FORT WORTH
By:
Fernando Costa, Assistant City Manager
ND LEGALITY:
-‘-‘a-fego-C
Vicki S. Ganske, Senior Assistant City Attorney
TARRANT COUNTY HOUSING
PARTNA, a T = • . s non-p
B•
y• J�
►o41 I ess, Pr� si•ent
it corporation
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
CONTRACT AMENDMENT 2 to CSC No. 45056
Tarrant County Housing Partnership, Inc. — 1116 E. Allen
Page 3
Rev. 9/2015
EXHIBIT "A-2"
ENVIRONMENTAL MITIGATION REQUIRED REVIS hD 9/2015
TARRANT COUNTY HOUSING PARTNERSHIP, INC.
1116E ALLEN
HOME Funds may be reimbursed for exempt activities; however, HOME funds will not be paid,
and costs cannot be incurred until City has conducted and completed an environmental review of
the proposed project site as required under 24 CFR Part 58. The environmental review may result
in a decision to proceed with, modify, or cancel the project. Further, Developer will not
undertake or commit any funds to physical or choice limiting actions, including property
acquisition, demolition, movement, rehabilitation, conversion, repair or construction until
satisfactory completion of environmental review and receipt by City of an authorization to use
grant funds from HUD under 24 CFR Part 58.
EA MITIGATION MEASUREES AND CONDITION FOR PROJECT APPROVAL:
The lead levels in the soil exceed the allowable levels. The Developer should take appropriate
actions to mitigate this concern before construction is allowed to begin.
CONTRACT AMENDMENT 2 to CSC No. 45056
Tarrant County Housing Pal lnership, Inc — 1116 E. Allen
Page 4
Rev. 09/2015
EXHIBIT "B"
BUDGET REVISED 9/2015
TARRANT COUNTY HOUSING PARTNERSHIP, INC.
1116E ALLhN
HOME Funds for Project Related Development Costs:
Developer Fee*:
TOTAL HOME FUNDS:
Development Budget
Use of Funds
Predevelopment Cost
1. Market Study
2. Feasibility (i.e.: prelumnary work
write-up, cost estimates, design)
3. Other
Total Predevelopment Cost (1+2=3)
Development Cost
4. Land and/or building acquisition
5. Site Preparation
6. Construction Cost
7. Fence
8. Landscape
9. Contingency
10. Appraisal
11. Architect & Engineering Fees
12. Construction Management Fee /
Developer Fee
13. Construction Loan Interest
14. Property Survey
15. Legal Fees
16. Real Estate Fees
17. Utility Hookup/Impact Fees
18. Title and Recording Fees
19. Construction Management
20. Bond Fees
Total Development Cost (Total of items
4 — 20)
Total Cost
HOME $
FUNDS
(1)
10,633.00
10,633.00
4,088.00
7,410.00
132,241.00
2,650.00
2,100.00
$162,732.00
$ 17,554.20
$180,286.20
OTHER $
FUNDS
(2)
475.00
2,500.00
1,110.00
152,099.00
162,732.00
375.00
250.00
4,680.00
780.00
6,250.00
12,810.00
12,810.00
Source of Funds
SOURCE OF OTHER
FUNDS
(Names)
Proceeds of Sale
Proceeds of Sale
Proceeds of Sale
Proceeds of Sale
Proceeds of Sale
TOTAL $
FUNDS
(1+2)
10,633.00
10,633.00
4,088.00
7,410.00
132,241.00
2,650.00
2,100.00
475.00
2,500.00
375.00
250.00
4,680.00
1,110.00
780.00
6,250.00
164,909.00
175,542.00
*Developer Fee shall be paid from HOME Funds by invoice after the closing of the sale of the house to a HOME
Eligible Buyer. The Developer Fee consists of 10% of the project related development costs
**Seller -paid closing costs as shown on the HUD-1 Settlement Statement paid from gross sales proceeds from the
sale of the house.
CONTRACT AMENDMENT 2 to CSC No. 45056
Tarrant County Housing Paitnership, Inc — 1116 E. Allen
Page 5
Rev. 09/2015
EXHIBIT "C"
PROJECT AND REIMBURSEMENT SCHEDULE REVISED 9/2015
TARRANT COUNTY HOUSING PAR I NERSHIP, INC.
1116E ALLINN
Phase
PHASE I ACTIVITIES:
PHASE I DEADLINE:
October 24, 2014
PHASE II ACTIVIITES:
PHASE II DEADLINE:
December 31 2015
PHASE I11 ACTIVIITES:
PHASE III DEADLINE:
February 28, 2016
PHASE IV ACTIVIITES:
PHASE IV DEADLINE:
Apri130 2016
PHASE V ACTIVITIES•
PHASE V DEADLINE•
June 30, 2016
CONSTRUCTION TOTAL
DEVELOPER FEE**
Activity
Contract signed
Land and/or Building Acquisition
Survey
1st Payment*
Site Preparation
Architectural & Engineering Fees
Landscaping
Construction costs
2°d Payment*
Site Preparation
Architectural & Engineering Fees
Construction Costs & Fence
Utility hookup/Impact fees
3rd Payment*
Construction costs
Utility hookup/Impact fees
4th Payment*
Utility hookup/Impact fees
Architectural & Engineering Fees
Landscaping
Construction Costs & Fence
FINAL PAYMENT*
Paid after closing of sale to HOME
Eligible Buyer
*Developer will be reimbursed for eligible expenses only The amounts are estimates and are subject to change
**10% of project related development costs as shown on Exhibit "C" - Budget.
Beginning Week — subject to
weather permitting
$46,474.87*
$18,725.99*
$53,091.04*
$30,000.00*
$14,440.10*
$162,732.00
$17,554.20* *
CONTRACT AMENDMENT 2 to CSC No. 45056
Tarrant County Housing Partnership, Inc — 1116 E. Allen
Page 6
Rev. 9/2015