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Home My WebLink AboutContract 44564-A3 (2)COTY SECfR�TAl� �}�I�� -�3 ��tViR�►►t�T i�0. �-- - THIRD AMENDM�NT TO CITY SECRETARY CONTRACT NO. 44564 WHEREAS, on June 20, 2013, the City of Fort Worth ("City") and Tarrant County Housing Partnership, Inc. ("Developer") made and entered into City Secretary Contract No. 44564 (the "Contract"), as authorized by the City Council in M&C G24714 which provided City HOME funds to Developer foc the development of 3 single family houses in the Hillside- Mocningside neighboi•hood (the project); 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 Partnerships Program, Catalog of Federal Domestic Assistance No. 14.239; WHEREAS, Developer is qualified as a Community Housing Development Organization or "CHDO" under the HOME Regulations; WHEREAS, Developer requested HOME CHDO funds for the construction of a single family house located at 1246 E. Jeffeison to be sold to HOME Eligible Buyers under the terms and conditions set forth in the Contract; WHEREAS, City and Developer executed the First Amendment to the Contract to extend the Completion Deadline and increase the construction budget for the house; WHEREAS, once the house was completed, the amount of the Developer Fee could be determined and City and Developer eaecuted the Second Amendment to the Contract to amend the definition of the HOME Funds to clarify that it included the sum necessary for payment of the Developec Fee; WHEREAS, since the house is now complete and sold to a HOME Eligible Buyer, Developer has requested an amendment to the line item amounts listed in Exhibit "C" — Budget Revised 7/2014 to reflect the final expenses for the project, including the actual amounts of each line item and the actual amounts of the selle��-paid closing costs as shown on the HUD-1 Settlement Statement; WHEREAS, City and Developer have also agreed to add 10% of the seller-paid closing costs to the Developer Fee in addition to 10% of the eligible project related development costs; and WHEREAS, it is the mutual desii•e of City and Developer to amend the Contract to complete the project and meet Contj�act objectives. NOW THEREFORE, City and Developec hereby agree as follows: L� Section 2. DEFINITIONS is amended to be and i•ead as follows: "HOME Funds means the HOME Program grant funds supplied by City to Developer uuder the tecros of this Coi�tract, not to exceed $152,073.01. � _ CONTRACT AMGNDMENT 3 to CSC No. 44564 �<<:�FFICIAL RECOR� Page 1 Tarrant County Housing Partnership, Inc. — 1246 G. .lefferson ��y gE�RE1'pRY Rev. 02/10/15 ' RECEIVED �EB 2�� FT. WORTH, TX Section 4.7 Developer Fee is amended to be and read as follows:" "Section 4.7 Developer Fee. Developer shall receive a fee of 10% of the total eligible project related development costs actually spent to develop, construct and sell the Required Improvements in accordance with the terms of this Contract. Eligible project related development costs shall include but not be limited to development costs, construction costs, and seller-paid closing costs as more particularly desccibed in �xhibit "C" — Budget. City shall pay Developer Fee at City's sole option (i) outside of closing upon receipt from Developer of an invoice showing the total amount of eligible costs spent to develop, construct and sell the Required Improvements, or (ii) at closing. 11. Exhibit "B" — Project and Reimbursement Schedule Revised 7/2014 and Exhibit "C" — Budget Revised 7/2014 attached to the Contract are hereby replaced with Exhibit "B" — Project and Reimbursement Schedule Revised 2/2015 and Exhibit "C" — Budget Revised 2/2015 attached hereto. III. This amendment is effective as of the Effective Date of the Contract. IV. All other terms and conditions of City Secretary Contract No. 44564 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 FOLLOWING PAGE] CONTRACT AMENDMENT 3 to CSC Na 445(4 Pagc 2 Tarrant County Housing Partnership, Inc. — 1246 E. Jefterson Rev. 02/10/15 ACCEPTED AND AG ATT�ST: �� i �� 'cQpoO; OG OF FORT WORTH ' °o �� v e°�� J'�' ��'�ouuaao°°� � / (�J.u�.�o_ ity Sec��et�� '� � ��C�� Fernando Costa, Assistant City Manager M&C C-24'�� 4 Date: 1/25/2 APPR VED AS TO OR ND LEGALITY: �� `�'2'.!/�1,�,c.� Vicki S. Ganske, Senioc Assistant City Attorney STAT� OF TEXAS COUNTY OF TARRANT . .� This instrument was acknowledged before me o � , 2015 by Fernando Costa, Assistant City Manager of the City of Fort Worth, behalf the City of Fort Worth. — • ,.� _� ,.--___ �_„� -�,.�...�y..,....:l,�-.. �""""'�� EV()NIA GANIEIS �.�`ir;`: :'�a'�. ;z � `�= Notary Public, S9are uf Texps � N tary Public, State of Texas ;N^�.�c;= My Commission Expfres ��9rF'pFt�� July 10, 2017 -...,�, ��/r11111�\�` . ..r�+-.a--=--� ;� :r.soa--�s=-+�"'eM...."'�'..�"rr'+�.swe`d-ir',� at�mf�.�'.�:.;.�r. _ STATE OF T�XAS COUNTY OF TARRANT �� o� TARRANT COUNTY HOUSING PARTNERS P, a Texas - rofit rporation By: � nn Va ss, Presi t This instrument was acknowledged before me on �iCl�'l(lt/t,i �� , 2015 by Donna VanNess, President of Tarrant County Housing Partnership, Inc., a Te�as non-profit corporation, acting on behalf of such corporation. � Notary Public, St e of Texas � �{�15i: i� 9,1Y i�C}D+ I';I LZ -- � � P � �� _ iv��ry�y f'uF,li ,;t:;t . ut i�::;es �, � • ��;�Y Cor�,i��i=siun f= <pii dS E _'',i,;..';i;�,�� 1�7f1� )i�� :.'111,�: (�.....v�.n..ortrrr � � m:.te`..:ti�:�.cx�air.iyH�eira...s CONTRACT AMENDMENT 3 to CSC No. 44564 Tarrant County Housing Partnership, Inc. — 1246 E. Jeffei•son OFFICIAL RECORD CITY SECfiETARY FT. WORTH, TX Page 3 Rev. 02/] 0/ I 5 EXHIBIT "B" PROJ�CT AND REIMBURSEMENT SCHEDUL� RGVISED 2/2015 TARRANT COUNTY HOUSING PARTNCRSHIP, INC. 1246 G. Jefferson Phase Activity Beginning Week — subject to weather ermittin PHASE 1 ACTIVITIES: Coi�tract signed Land and/or Building Acquisition Sui•vey PHASE I DEADLINE: $9,240.14* Au ust 7, 2013 ist Pa ment* PHASE II ACTIVIITES: Site Preparation Architectural & Engineering Fees Landscaping Construction costs PHASE II DEADLINE: 2"� payment* $62,280.92X Se tember 18, 2013 PHASE III ACTIVIITES: Site Preparation Architectural & Engineering Fees Const��uctio�� Costs & Fei�ce Utility hookup/Iinpact fees PHASE III DEADLINE: 3r`' Paymentx $33,800.'76* June 30, 2014 PHASE IV ACTIVIITES: Consh�uction costs Utility hookup/Impact fees PHASE IV DEADLINE: 4'�' Payment''� $15,364.67X Au ust 30, 2014 PHASE V ACTIVITIES: Utility hookup/Impact fees Architectural & Engineering Fees Landscaping Construction Costs & Fence PHASE V DEADLINE: FINAL PAYMENT* $ 11,104.40* Se tember 30, 2014 CONSTRUCTION TOTAL $131,790.89 Paid after closin of sale to HOME DEVELOPER FEE** Eligibe Buyej• $13,824.82** *Developer will be reimbursed for eligible expenses only. The amounts are estimates and are subject to change. ** 10% of pcoject related development costs as shown on Exhibit "C" - Budget. CONTRACT AMENDMGNT 3 to CSC No. 44564 I'age 4 Tarrant County 1-iousing Partnership, Inc. — 1246 E. Jefferson Rev. 02/10/15 EXHIBIT "C" BUDGET Revised 2/2015 TARRANT COUNTY HOUSING PARTNGRSHIP, INC. 1246 G. JGFFGRSON HOME �unds for Project Related Development Costs: $138,248.19 Developer I'eex: $ 13,824.82 TOTAL HOMG rUNDS: $152,073.01 Development Budget Use of runds Source of Funds HOME $ OTHGR $ SOURCE OF TOTAL $ FUNDS FllNDS OTHERFUNDS FUNDS (1) (2) (Names) (1+2) Predevelo ment Cost 1. Market Stud 2. Feasibility (i.e.: preliminary work ��rite-up, cost estimates, design) 3. Other � Total Predevelo ment Cost 1+2=3 Develo ment Cost 4. Land and/oi• building acquisition 8,140.14 8,140.14 5. Site Pre aration 5,990.00 5,990.00 6. Construction Cost 113,009.43 l 13,009.43 7. I�ence 8. Landscape 750.00 750.00 9. Contingency 10. Appraisal l l. Architect & En ineerin Fees 2,14090 2,140.90 12. Construction Management Fee / Developer Fee 13. Construction Loan Interest 14. Pro ert Surve 1,300.00 350.00** Proceeds of Sale** 1,650.00 I5. Legal Fees 150.50** Proceeds of Sale** 150.50 16. Real Estate Fees 4,996.00** Pcoceeds of Sale** 4,996.00 17. Utility Hooku /Im act Fees 460.42 460.42 18. Title & Recording Fees 960.80** Proceeds of Sale** 960.80 ] 9. Construction Management 20. Bond Fees Total Developmeni Cost (Total of Items 131,790.89 6,457.30** 138,248.19 4 — 20) Total Pro'ect Cost 131,790.89 6,457.30** ]38,248.19 *Developer Fee shall be paid from HOMF, 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 Settlemcnt Statement paid ti•om gross sales proceeds ii•om the sale of the house. CONTRACT AMGNDMENT 3 to CSC No. 44564 Page 5 Tar�•ant County Housing I'artnership, Inc. — 1246 E. .lefferson Rev. 02/10/IS M&C Review Page 1 of 3 Offirial site af the City of Port Woith, Texas �I1''�' �C)llN�iL G�tVDA Fo�r�� COUNCIL ACTION: Approved on 1/25/2011 DATE: 1/25/2011 REFERENCE C-24714 LOG NAME: 17TCHP- NO.: HILLSIDE\MORNINGSIDE CODE: C TypE; NON- PUBLIC NO CONSENT HEARING: SUBJECT: Authorize a Change in Use and Expenditure of $381,931.00 of HOME Investment Partnerships Program Grant Funds to Tarrant County Housing Partnership, Inc., for the Development of Three Single Family Houses in the Hillside-Morningside Neighborhood, Authorize the Execution of Conditional Commitment and Contract and Authorize a Substantial Amendment to the City's 2010-2011 Action Plan (COUNCIL DISTRICT 8) RECOMMENDATION: It is recommended that the City Council: 1. Authorize a substantial amendment to the City's 2010-2011 Action Plan; 2. Authorize the City Manager, or his designee, to substitute funding years in order to meet commitment, disbursement and expenditure deadlines for grant funds from the United States Department of Housing and Urban Development; 3. Authorize a change in use and expenditure of $381,931.00 in HOME Investment Partnerships Program Grant funds to Tarrant County Housing Partnership, Inc., a certified Community Housing Development Organization, for the development of three single family houses in the Hillside- Morningside neighborhood; 4. Authorize the City Manager, or his designee, to execute a conditional commitment with Tarrant County Housing Partnership, Inc., that conditions funding, among other things, on satisfactory completion of HOME requirements; 5. Authorize the City Manager, or his designee, to execute a Contract with the Tarrant County Housing Partnership, inc., for the project for a three year term beginning on the date of execution of the contract; 6. Authorize the City Manager, or his designee, to extend or renew the conditional commitment or the contract if Tarrant County Housing Partnership, Inc., requests a written extension and such extension is necessary for completion of the project; and 7. Authorize the City Manager, or his designee, to amend the conditional commitment or the Contract if necessary to achieve project goals provided that the amendment is within the scope of the project and in compliance with City policies and applicable laws and regulations governing the use of federal grant funds. DISCUSSION: On October 14, 2010, the City issued a Request for Proposals (RFP) for certified Community Housing Development Organizations (CHDO) to award and expend up to $1,261,931.00 of HOME Investment Partnerships Program Grant funds. On November 18, 2010, the Tarrant County Housing Partnership, Inc., (TCHP) submitted a response requesting $617,884.00 of the available HOME funds http://fortworthtexas.gov/council�acket/mc_review.asp?ID=14661 &councildate=l/25/2011 2/24/2015 M&C Review Avis F. Chaisson (6342) ATTACHMENTS Page 3 of 3 http://fortworthtexas.gov/council�acket/mc_review.asp?ID=14661 &councildate=l /25/2011 2/24/2015