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Home My WebLink AboutContract 44563-A3 (4)E�;�� s;�T,��5 �3 - �3 �� o THIRD AM�NDM�NT TO CITY SECR�TARY CONTRACT NO. 44563 WHEREAS, on June 20, 2013, the City of Fort Wo�rth ("City") and Tarrant County Housing Partnership, Inc. ("Developec") made and entered �nto City Secretary Contract No. 44563 (the "Contract"), as authorized by the City Council in M&C C-24293 which provided City HOME funds to Developer for the development of 1 single family house in the Hillside- Morningside neighborhood (the project); WHEREAS, the funding provided to Developer in the Contcact was fi•om a grant �•eceived by tlle City from the United States Department of Housing and Urban Development through the HOME Investment Partnecships 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 executed the First Ainendment 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 executed 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 Developer 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 seller-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 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: � TJ m c'� rn � � � � m W � � �v � 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 $147,519.16. CONTRACT AMENDMENT 3 to CSC No. 44563 Tarrant County Housing Partnership, Inc. — 1307 Elm�vood I';', (�FFICIAL RECOit�� (��gl( 3ECRE�AR�( �`d'.1NORTii, YX Page 1 Rev. 02- ] 0-15 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 sellei•-paid closing costs as more particularly described in Exhibit "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. II. 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. 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 AMENDMGNT 3 to CSC No. 44563 Page 2 Tarrant County Housing Partnership, Inc. — 1307 Elmwood Rev. 02-10-15 ACC�PT�D AND A ATT�ST: :� � ��, � � OF FORT WORTH / n � $ � � l�..-� � "' � � , , �, n,• City Secr j� °°��oo�°°�`� . Fernando Costa, Assistant City Manager M&C G24� 3 Date: 6 �(�� APPR VED AS TO FOR AND L�GALITY: � ��J � �� 1f/��— Vicki S. Ganske, Senior Assistant City Attorney STATE OF TEXAS COUNTY OF TARRANT . This instrument was acknowledged before me on � ,�j' , 2015 by Fernando Costa, Assistant City Manager of the City of Fort Worth, on ehalf the City of Fort Woi�th. < < �._�� _ -- �,�.��:�::=---... ; •��"'°"��a��t EVONIA DANIELS � ��`hP�,Y PL9''�� otary Public, State of Texas :�2: ��2 Notary Public, StaTe of Texas ;�,:,�;h° My Commissfon Expires 'o�rFo��ti�� July 10, 2017__ �pnn:,�+`�� ___'__' `_- -_ . - :r,us+aM'o��. - -�.r:. �.: . ,�,:-� .�+...-�r_. . .. �,e._:-� -_ -- STATE OF TEXAS COUNTY OF TARRANT . TARRANT COUNTY HOUSING PA TNERS a Texa -prof corporation By: nna Van es ' ent � This instrument was acknowledged before me on f� /�/'% �,? , 2015 by Donna VanNess, President of Tarcant County Housing Partne�ship, Inc., a Texas non-profit corporation, acting on behalf of such corporation. � Notary Public, State Texas � ^ i�� f'��G fvl/�12r,i�C�L)121�UE7. ='.�� = ��1'�� ry Puhlic Stat� o� I�ea'rs .'`�� • : �b�y Cor'n�riissirn , ;-:� •;: ;� ;�._ � r;;�� , ��,,��` April 1 a, '�0 i 5 - - ---------------___.------_ CONTRACT AMENDMENT 3 to CSC No. 44563 Tarrant County Housing Partnership, Inc. — 1307 Elmw�ood � _.._.____._._. i �pr�i�� +�� +I� ��+�t��i�i�+�� `l".'MY'��'�'I�} '�� Page 3 Rev. 02-10-15 . . I�1._s . . PROJ�CT AND RGIMBURSEMENT SCHEDULE REVISGD 2/2015 TARRANT COUNTY HOUSING PARTNGRSHIP, INC. 1307 Elmwood Phase Activity Beginning Weelc—subject to weather ermittin PHASE 1 ACTIVITIES: Contract signed Land and/or Building Acquisition Survey PHASE I DEADLINE: $2��58 Sgx Au ust 7, 2013 lst Pa ment" PHASE II ACTIVIITES: Site Preparation Architectural & Engineering Fees Landscaping Construction costs PHASE II DEADLINE: 2"� Payment* $66,100.02X Se tember 18, 2013 PHASE III ACTIVIITES: Site Preparation Architectural & Engineering Fees Consh�uction Costs & Fence Utility hookup/Impact fees PHASE III DEADLINE: 3r`' Payment''� $34,701.31K June 30, 2014 PHASE IV ACTIVIITES: Construction costs Utility hookup/Impact fees PHASE IV DEADLINE: 4'�' PaymentX $16,063.12X Au ust 30, 2014 PHASE V ACTIVITIES: Utility hookup/Impact fees Architectural & Engineering Fees Landscaping Construction Costs & Fence PHASE V DEADLINE: FINAL PAYMENT* $7,498.00* Se tember 30, 2014 CONSTRUCTION TOTAL $127,121.03 DEVELOPER FEE** Paid after closing of sale to HOME $13,410.83** Eli ible Bu er *Developer will be reimbursed for eligible expenses only. The amounts are estimates and are subject to change. **10% of roject related development costs as sho�-vn on Exhibit "C" - Budget. CONTRACT AMENDMENT 3 to CSC No. 44563 Page 4 Tarrant County Housing Partnecship, ]nc. — 1307 Elmwood Rev. 02-10-IS EXHIBIT "C" BUDGET R�VISLD 2/2015 TARRANT COUNTY HOUSING PARTNERSHIP, INC. 1307 �LMWOOD HOME Funds for Project Related Development Costs: $134,108.33 Developer Fee''�: $ 13,410.83 TOTAL HOME FUNDS: $147,519.1G Development Buclget Use of runds Source of i'unds Pcedevelopment Cost HOME $ OTHER $ SOURCG OF TOTAL $ FllNDS rUNDS OTHGRFUNDS FUNDS (] ) (2) (Names) (1+2) l. Market Study 2. Feasibility (i.e.: prelimina�y �vork �vrite-u , cost estimates, desi n) 3. Other Total Predevelo ment Cost 1+2=3 Develo ment Cost 4. Land and/or buildin ac uisition 1,658.58 1,658.58 5. Site Preparation 5,250.00 5,250.00 6. Construction Cost 115,601.26 l 15,601.26 7. Fence 8. Landsca e 750.00 750.00 9. Contingency 10. Appraisal 11. Architect & En ineerin Fees 2,140.92 2,140.92 l2. Constcuction Management Fee / Develo er Fee 13. Construction Loan Interest 14. Pro erty Survey 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 5,583.00 17. Utility Hookup/Impact Fees 420.27 420.27 18. Title & Recording Fees 903.80** Proceeds of Sa(e 903.80 19. Construction Management 20 Bond Fees Total Development Cost (Total of items 127,121.03 6,987.30 134,108.33 4-20 Total Pro'ect Cost 127,121.03 6,987.30 134,108.33 *Developef• Fee shall be paid fi�om HOME Funds by invoice after the closing of the sale of the house to a HOME Eligible Buyer. The Developer ree consists of 10°/o of the project celated development costs. **Seller-paid closing costs as sho��m on the HUD-1 Settlement Statement paid fi•om gross sales proceeds fi�om the sale of the house. CONTRACT AMCNDMENT 3 to CSC No. 44563 Page 5 Tarrant County Housing Partnership, Ine. — 1307 �lm�,vood Rev. 02-10-15 M&C Review r � � � � Page 1 of 3 OfFicial site of thz City of Fort Worth, Texas �t�RT �r`ORT11 COUNCIL ACTION: Approved on 6/22/2010 DATE: 6/22/2010 REFERENCE NO.: C-24293 LOG NAME: 17TCHP- 1307ELMWOOD CODE: C TYPE: CONSENT HEARING: NO SUBJECT: Authorize a Change in Use and Expenditure of $145,000.00 of HOME Investment Partnerships Program Grant Funds to Tarrant County Housing Partnerships, Inc., for the Development of a Single Family House in the Hillside-Morningside Neighborhood, Authorize the Execution of Conditional Commitment and Contract, and Authorize a Substantial Amendment to the City' s 2008-2009 and 2009-2010 Action Plans (COUNCIL DISTRICT 8) RECOMMENDATION: It is recommended that the City Council: 1. Authorize a substantial amendment to the City' s 2008-2009 and 2009-2010 Action Plans; 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 $145,000.00 in HOME Investment Partnerships Program Grant funds to Tarrant County Housing Partnerships, Inc., a certified Community Housing Development Organization, for the development of a single family house in the Hillside-Morningside neighborhood; 4. Authorize the City Manager, or his designee, to execute a conditional commitment with iarrant County Housing Partnerships, 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 Partnerships, Inc. for the project for a one 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 for up to one year if Tarrant County Housing Partnerships requests an 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 goais 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 6, 2009, the City issued a Request for Proposals (RFP) for certified Community Housing Development Organizations (CHDO) to award and expend up to $1,600,000.00 of HOME Investment Partnerships Program Grant funds by May 1, 2012. On November 5, 2009, the Tarrant County http://fortworthtexas.gov/council�acket/mc_review.asp?ID=13564&councildate=6/22/2010 2/24/2015 M&C Review Additional Information Contact: Avis F. Chaisson (6342) ATTACHMENTS 1307EImwoodCouncilMap.pdf Page 3 of 3 http:UfortworthteYas.gov/council_packet/mc_review.asp?ID=13564&councildate=6/22/2010 2/24/2015