HomeMy WebLinkAboutContract 45057-A2 (2)vsN'e?
Ci T "Y SECRETARY
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RECEIVED ‘S CONTRACT NO,
SEP 30 2015
c• SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO. 45057
CUTYOFFORT WORTH
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Cyr SECRETARY WHEREAS on October �b r 30, 2013 the City of Fort Worth ("City") and Tarrant County
•9 Housing Partnership, Inc.('Devcloper")made and entered into Contract No.
g p City Secretary
�' �45057(the "Contract" as authorized the Council in & - 5
), by City M C C 2 5 31 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 923 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
Iadditional 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 December 31, 2015."
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
CONTRACT AMENDMENT 2 to CSC No. 45057
Tarrant County Housing Partnership, Inc. — 923 E. Allen
---.-- agei
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 $173,852.30, 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
$156,883.00 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 foun of insurance or bond in the amount
of $156,883.00 to insure against loss from the fraud, theft or dishonesty of any of
Developer's officers, agents, trustee, directors or employees."
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 45057 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. 45057
Tarrant County Housing Partnership, Inc — 923 E. Allen
Page 2
Rev. 9/2015
ACCEPTED AND AG
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CITY OF FORT WORTH
By: . all Ole „el
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Fernando Costa, Assistant City Manager
APPROVED AS TO FORM AND LEGALITY:
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Vicki S. Ganske, Senior Assistant City Attorney
TARRANT COUNTY HOUSING
PARTNE IP . Texas • n-profit rporation
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CONTRACT AMENDMENT 2 to CSC No. 45057
Tarrant County Housing Partnership, Inc. — 923 E. Allen
Page 3
Rev. 9/2015
EXHIBIT "A-2"
ENVIRONMENTAL MITIGATION REQUIRED REVISED 9/2015
TARRANT COUNTY HOUSING PAR EN INC.
923 [4; ALLEN
HOME Funds may be reimbursed for exempt activities; however, HOW, 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 noise level at the project exceeds 65 dB. The architect for the project should issue a letter
stating the typical materials that would be used to construct the house will attenuate the noise.
CONTRACT AMENDMENT 2 to CSC No. 45057
Tarrant County Housing Pal tnership, Inc — 923 E. Allen
Page 4
Rev. 09/2015
EXHIBIT "B"
BUDGET REVISED 9/2015
TARRANT COUNTY HOUSING PAR IINERSHIP, III
923 F ALLEI\
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.: preliminary work
waste -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 8 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)
3,033.00
3,033.00
3,365.00
8,839.00
133,286.00
2,650.00
2,100.00
2,500.00
1,110.00
153,850.00
156,883.00
$156,883.00
$ 16,969.30
$173,852.30
OTHER $
FUNDS
(2)
475.00
375.00
250.00
4,680.00
780.00
6,250.00
12,810.00
12,810.00
C.
Source of Funds
SOURCE OF OTHER
FUNDS
(Names)
1
Proceeds of Sale
Proceeds of Sale
Proceeds of Sale
Proceeds of Sale
Proceeds of Sale
TOTAL $
FUNDS
(1+2)
3,033.00
3,033.00
3,365.00
8,839.00
133,286.00
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
166,660.00
169,693.00
*Developer Fee shall be paid fiom HOME Funds by invoice after the closing of the sale of the house to a HOME
hligible Buyer. The Developer Fee consists of 10% of the project related development costs
**Sellei-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. 45057
Tarrant County Housing Partnership, Inc — 923 E. Allen
Page 5
Rev. 09/2015
Ej X-HBIT "C"
PROJECT AND REIMBURSEMENT SCHEDULE REVISED 9/2015
TARRANT COUNTY HOUSING PAR 1 N ERSHIP, INC.
923 E ALLEN
Phase
PHASE I ACTIVITI RS:
PHASE I DEADLINE:
October 24, 2014
PHASE, II ACTIVII FES:
PHASE, II DEADLINE•
June 30, 2015
PHASE III ACTIVIITES:
PHASE ► I I DEADLINE:
August 30, 2015
PHASE IV ACTIVIITES:
PHASE IV DhADLE\ E,•
October 31, 2015
PHASE V ACTIVITI hS:
PHASE V DEADLINE:
December 31 2015
CONSTRUCTION TOTAL
DEV Ii LOPER FEE**
Activity
Contract signed
Land and/or Building Acquisition
Survey
1st Payment*
Site Preparation
Architectui al & Engineering Fees
Landscaping
Construction costs
2nd 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 & I-4ngineering Fees
Landscaping
Construction Costs & Fence
FINAL PAYIVIENT*
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
$46,585.59*
$16,530.63 *
$46,050.78*
$30,000.00*
$17,716.00*
$156,883.00
$16,969.30**
CONTRACT AMENDMENT 2 to CSC No. 45057
Tarrant County Housing Partnership, Inc — 923 E. Allen
Page 6
Rev. 9/2015