HomeMy WebLinkAboutContract 44563-A4 (2)�t
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FOURTH AMENDMENT TO CITY SECRETARY CONTRACT NO. 44563
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V�HEREAS, on June 20, 2013, the City of Fort Worth ("City") and Tarrant County
Housi �artnership, Inc. ("Developer") made and entered into City Secretary Contract No.
s�� �: :4. --�he "ContracY'), as authorized by the City Council in M&C C- 24714 which provided
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`�C��y HOME funds for the development of 3 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 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 1307 Elmwood to be sold to HOME Eligible Buyers under the terms and
conditions set forth in the Contract;
WHEREAS, City and Developer eYecuted the First Amendment to the Contract to eYtend
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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 eYecuted the Second Amendment to the Contract to amend
the definition of HOME Funds to clarify that it included the sum necessary for payment of the
Developer Fee;
WHEREAS, City and Developer executed the Third Amendment to the Contract after the
house was sold to a HOME Eligible Buyer to amend the construction budget to reflect the final
eYpenses for the project, including the actual amounts of each line item and the actual amounts
of the seller-paid closing costs as shown on the HUD-1 Settlement Statement;
WHEREAS, Developer incurred additional eligible eYpenses for the development of the
house that were not previously included in the Budget, and has requested an amendment to the
phase deadlines in Exhibit "B" — Project and Reimbursement Schedule Revised 2/2015 and
the line item amounts listed in EYhibit "C" — Budget Revised 2/2015 to allow payment of
development expenses not previously included;
WHEREAS, City paid Developer 10% of the seller-paid closing costs as well as 10% of
the eligible project related development costs as Developer Fee but this amount �vas not included
in the amended definition of HOME Funds; and
WHEREAS, it is the mutual desire of City and Developer to amend the Contract to
complete the project and ineet Contract objectives.
! c�FFICIAL RECORD
CITl( ���:���'�ARY
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CONTRACT AMENDMENT 4 to CSC No. 44563
Tarrant County Housing Partnership, Inc. — 1307 Elmwood
Page 1
Rev. 09/2015
NOW THEREFORE, City and Developer hereby agree as %llows:
I.
Section 2. DEFINITIONS is amended to be and read as follows:
"HOME Funds" means the HOME Program grant funds supplied by City to Developer
under the terms of this Contract, not to exceed $157,007.66, which includes the costs set forth in
Exhibit "C" — Budget and the Developer Fee.
II.
Exhibit "B" — Project and Reimbursement Schedule Revised 2/2015 and Exhibit "C"
— Budget Revised 2/2015 attached to the Contract are hereby replaced with Exhibit "B" —
Project and Reimbursement Schedule Revised 9/2015 and Exhibit "C" — Budget Revised
9/2015 attached hereto.
III.
This Amendment is effective as of the Effective Date of the Contract.
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Ali other terms and conditions of City Secretary Contract No. 44563 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 4 to CSC No. 44563 Page 2
Tan•ant County Housing Partnership, Inc. — 1307 Elmwood Rev. 09/2015
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CITY OF FORT WORTH
By: �/�
Fernando Costa, Assistant City Manager
APPROV�D AS TO FO AND LEGALITY:
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Vi i S. Ganske, Senior Assistant City Attorney
TARRANT COUNTY HOUSING
PARTN , a TeYa n-prof coiporation
By:
Nes , Pres' ent
pFpICIpL RECORD
c�'PV SECRETARY
�T. WARTIi, TX
CONTRACT AMENDMENT 4 to CSC No. 44563 Pa�e 3
Tairant County Housing Partnei•ship, Inc. — 1307 Elmwood Rev. 09/2015
EXHIBIT "B"
PROJECT AND REIMBURSEMENT SCHEDULE REVISED 9/2015
TARRANT COUNTY HOUSING PARTNERSHIP, INC.
1307 Elmwood
Phase Activity Beginning Week — subject to
weather ermittin
PHASE I ACTNITIES: Contract signed
Land and/ar Building Acquisition
Survey
PHASE I DEADLINE: $2 758.58x
Au ust 7, 2013 lst Pa mentX '
PHASE II ACTNIITES: Site Preparation
Architectural & Engineering Fees
Landscaping
Construction costs
PHASE II DEADLINE: 2n'' paymentX $66,100.02*
Se tember 18, 2013
PHASE III ACTNIITES: Site Preparation
Architectural & Engineering Fees
Construction Costs & Fence
Utility hookup/Impact fees
PHASE III DEADLINE: 3r`' PaymentY $34,701.31�
June 30, 2014
PHASE IV ACTNIITES: Construction costs
Utility hookup/Impact fees
PHASE N DEADLINE: 4tn paymentx $16,063.12Y
Au ust 30, 2014
PHASE V ACTNITIES: Utility hookup/Impact fees
Architectural & Engineering Fees
Landscaping
Construction Costs & Fence
PHASE V DEADLINE: FINAL PAYMENTY $22,476*
Jul 30, 2015
CONSTRUCTION TOTAL $142,099.03
DEVELOPER FEE** Paid aftet• closing of sale to HOME $14,908.63*Y
Eli ible Buyer
*Developer will be reimbursed for eligible eYpenses only. The amounts are estimates and are subject to change.
**10% of roject related develo ment costs as shown on Exhibii "C" - Bud et.
CONTRACT AMENDMENT 4 to CSC No. 44563 Page 4
TaiTant County Housing Partnership, Inc, — 1307 Elmwood Rev. 09/2015
EXHIBIT "C"
BUDGET REVISED 9/2015
TARRANT COUNTY HOUSING PARTNERSHIP, INC.
1333 E. JEFFERSON
HOME Funds for Project Related Development Costs: $142,099.03
Developer Fee*: $ 14,908.63
TOTAL HOM� FUNDS: $157,007.66
Development Budget
Use of Funds Source of Funds
Predevelopment Cost HOME $ OTHER $ SOURCE OF OTHER TOTAL $
FUNDS FUNDS FUNDS FUNDS
(1) (2} (Names) (1+2)
1. Market Stud
2. Feasibility (i.e.: preliminary work
write-u , cost estimates, design)
3. Other
Total Predevelo ment Cost 1+2=3
Develo ment Cost
4. Land and/or building ac uisition 1,658.58 1,658.58
5. Site Pre aration 5,250.00 5,250.00
6. Construction Cost 130,579.26 130,579.26
7. Fence
8. Landsca e 750.00 750.00
9. Contingenc
10. Appraisal
11. Architect & Engineering Fees 2,140.92 2,140.92
12. Construction Management Fee /
Develo er Fee
13. Construction Loan Interest
14. Pro eriy Surve 1,300.00 350.00** Proceeds of Sale** 1,650.00
15. Legal Fees 150.50** Proceeds of Sale** 150.50
16. Real Estate Fees 5,583.00** Proceeds of Sale*'� 5,533.00**
17. Utilit Hooku /Im act Fees 420.27 420.27
18. Title and Recording Fees 903.80** Proceeds of Sale** 903.80**
19. Construction Management
20. Bond Fees
Total Development Cost (Total of items 142,099.03 6,937.30 149,086.33
4-20
Totai Cost 142,099.03 6,98730 149,086.33
*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 £rom the
sale of the house.
CONTRACT AMENDMENT 4 to CSC No. 44563 Pa�e 5
Tarrant County Housing Partnership, Inc. — 1307 Elmwood Rev. 09/2015
M&C Review
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Page 1 of 3
Official site of the City of Fort Worth, Texas
FiUftT �rt�RT H
COUNCIL ACTION: Approved on 1/25/2011
DATE
•�-
1/25/2011 REFERENCE C-24714 LOG NAME: 17TCHP-
NO.: HILLSIDE\MORNINGSIDE
NON- PUBLIC
C TYPE: CONSENT HEARING: NO
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 substantiai amendment to the City's 2010-2011 Action Pian;
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 Hiliside-
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 availabie HOME funds
http://apps.cfwnet.org/council�acicet/mc_review. asp?ID=14661 &councildate=l /25/2011 9/18/2015
M&C Review
Page 2 of 3
to acquire seventeen sites on which it proposed to construct single family houses. The request also
included funds for related CHDO operating expenses.
City staff reviewed all RFP submissions and recommended the award to TCHP of $381,931.00 in
HOME funds to the Community Development Council (CDC) at its meeting held on December 1,
2010. The CDC agreed with staff s funding recommendation for the project. Up to $50,000.00 of the
awarded funds will be used for operating expenses and $331,931.00 for construction of three houses
and other development expenses.
TCHP plans to develop three singie family houses to be located in the Hiilside-Morningside
neighborhood. There are three floor plan options available and ali houses will be at a minimum 1250
square feet with three bedrooms, two baths and a rear detached garage. The houses will be sold to
an individual or family that earns 80 percent or less of Area Median Income as determined by the
United States Department of Housing and Urban Development (HUD). Buyers must meet all HOME
Program requirements inciuding applying for and receiving at least $1,000.00 in down payment
and/or closing cost assistance from the City's Homebuyer Assistance Program and occupying the
house as their primary residence for five years.
Citv staff recommends the following Contract terms:
i. Construction must begin within six months of date of Contract execution;
ii. TCHP's performance under the Contract and use of the HOME funds will be secured by a
recorded
Deed of Trust;
iii. Houses must be sold to a HOME eligible buyer; and
iv. Proceeds from the sale of houses must be used to construct additional houses for a HOME
eligible
buyer and construction of Proceeds houses must occur within the three year contract term.
The ex�enditure of HOME funds is conditioned upon the following:
i. Satisfactory completion of the environmental review per 24 CFR Part 58, and
ii. Authorization to use grant funds from HUD.
City staff recommends the change in use and expenditure up to $381,931.00 in HOME funds for the
project to benefit low and very low income citizens by providing affordable housing. A public comment
period on the change in use of these HOME funds was held from December 16, 2010 to January 20,
2011. Any comments are maintained by the Housing and Economic Development Department in
accordance with federal regulations.
This project is located in COUNCIL DISTRICT 8.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that funds are available in the current operating
budget, as appropriated, of the Grants Fund.
TO Fund/Account/Centers
GR76 539120 017206461XXX $150,000.00
GR76 539120 017206461XXX �231,931.00
FROM Fund/Account/Centers
GR76 539120 017206461030 $150,000.00
GR76 539120 017206461040 $231,931.00
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
Susan Alanis (8180)
Jay Chapa (5804)
Cynthia Garcia (8187)
http://apps.cfwnet.org/council_pacicet/mc review.asp?ID=14661&councildate=l/25/2011 9/18/2015
M&C Review
Avis F. Chaisson (6342)
ATTACHMENTS
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http://apps.cfwnet.org/council�acicet/mc_review.asp?ID=1 �661&councildate=l/25/2011 9/18/2015