HomeMy WebLinkAboutContract 56160-A1FIRST AMENDMENT to CSC NO. 56160 Page 1
UDAG Loan Agreement
Fort Worth Affordability, Inc. Rev. 05.21.2024
FIRST AMENDMENT
TO
CITY SECRETARY CONTRACT NO. 56160
This Amendment is entered into by and between the City of Fort Worth (hereafter
"City"), a home rule municipality, with its principal place of business at 200 Texas Street, Fort
Worth, Texas, and Fort Worth Affordability, Inc. (hereafter “FWAI ”), a Texas nonprofit
corporation. City and FWAI shall be referred to individually as a Party and collectively as the
Parties.
WHEREAS, on September 13, 2021, the City and FWHS made and entered into City
Secretary Contract No. 56160 (the “Contract”), as authorized by the City Council in M&C 21-
0499 adopted on June 22, 2021, which provided $360,000.00 of the City’s Urban Development
Action Grant (“UDAG”) funds to FWAI;
WHEREAS, the purpose of the Contract was to provide the UDAG funds for the
constructions costs associated with right of way infrastructure improvements in support of the
Cowan Place Affordable Housing Development (Project) located at 5400 East Rosedale Street to
provide 174 units for seniors 55 and older, with 156 units set aside for households earning sixty
percent or less of area median income (AMI) and at least five percent of the total units will be set
aside as permanent supportive housing (PSH) units;
WHEREAS, the original Completion Date was for August 31, 2023;
WHEREAS,delays in the delivery of materials, onsite approvals and inspections by
Oncor, and unforeseen onsite issues with construction interrupted the project timeline;
WHEREAS, the Contract allows for an extension for up to two additional, one-year terms;
WHEREAS, the effective date of this Amendment will be August 31, 2023 (“Effective
Date”), to avoid having a gap in the Contract term;
WHEREAS, it is the mutual desire of the City and Developer to amend the Contract to
extend the term by one year and extend the completion deadline; and
NOW, THEREFORE, the Parties, acting herein by the through their duly authorized
representatives, do hereby agree to the following:
I.
AMENDMENTS
A.Section 2. DEFINITIONS is amended to be and read as follows by deleting the original
definition of Completion Deadline and substituting the following:
Completion Deadline means August 31, 2024.
FIRST AMENDMENT to CSC NO. 56160 Page 2
UDAG Loan Agreement
Fort Worth Affordability, Inc. Rev. 05.21.2024
B. The address for FWHS in Section 15 NOTICE is amended to be and read as follows:
City:
City Attorney’s Office
100 Fort Worth Trail (100 Energy Way)
Fort Worth, TX 76102
Attention: Leslie L. Hunt
Telephone: (817) 392-6259
FWAI:
Fort Worth Affordability, Inc.
Attention: Mary-Margaret Lemons, Secretary and Treasurer
1407 Texas Street
Fort Worth, TX 76102
Telephone: (817) 333-3401
C.EXHIBIT “C” –REIMBURSEMENT SCHEDULE attached to the Contract are hereby
replaced with the attached EXHIBIT “C” REIMBURSEMENT SCHEDULE REVISED
MAY 2024 attached hereto.
II.
This amendment is effective as of the Effective Date of the Contract.
III.
All other terms and conditions of the Contract 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 the meanings assigned to them in the Contract.
[SIGNATURES APPEAR ON NEXT PAGE.]
ACCEPTED AND AGREED:
FORT WORTH AFFORDABILITY, INC.
Date: ----------
CITY OF FORT WORTH
��By:--------Fernando Costa
Assistant City Manager
Date: Jul 11, 2024
ATTEST:
�1�
I
By: _U ___________ _
Jannette S. Goodall, City Secretary
M&C: 21-0498
Date: June 22, 2021
1295 Cert. No.2021-798916
Contract Compliance Manager:
Approval Recommended by:
By:k�
Kasey Bess
Interim Director of the Neighborhood
Services Department
Date: Jul 10, 2024
APPROVED AS TO FORM AND
LEGALITY:
Leslie L. Hunt, Senior Assistant City Attorney
By signing, I acknowledge that I am the person responsible for the monitoring and
administration of this contract, including ensuring all performance and reporting requirements. ' "'-, wName: Chad Laj!oque (Jul 9, 202417:16 CDT)
Chad LaRoque
Housing Development Manager
Date: Jul9,2024----------
FIRST AMENDMENT to CSC NO. 56160 UDAG Loan Agreement Fort Worth Affordability, Inc.
Page 3
Rev. 05.21.2024
FIRST AMENDMENT to CSC NO. 56160 Page 4
UDAG Loan Agreement
Fort Worth Affordability, Inc. Rev. 05.21.2024
EXHIBIT “C”
FORT WORTH AFFORDABILITY, INC.
REIMBURSEMENT SCHEDULE – Revised 5/2024
Milestone Payment Amount
At 25% Completion $100,000.00
At 50% Completion $100,000.00
At 75% Completion $110,000.00
Within 60 days of City’s issuance of a final “pass inspection”
and acceptance of Exhibit “F” – Project Completion Report.
$50,000.00
TOTAL LOAN AMOUNT $360,000.00
City of Fort Worth,
Mayor and
DATE: 06/22/21
Texas
Council Communication
M&C FILE NUMBER: M&C 21-0498
LOG NAME: 19COWAN PLACE - CDBG FUNDS
SUBJECT
(CD 5) Authorize Execution of a Subrecipient Agreement with the Housing Authority for the City of Fort Worth, Texas Doing Business as Fort Worth
Housing Solutions in the Amount of $750,000.00 in Community Development Block Grant Funds for Construction Costs Associated with the
Infrastructure Improvements in Support of the Cowan Place Affordable Housing Development Located at 5400 East Rosedale Street
RECOMMENDATION:
It is recommended that the City Council:
2.
3
Authorize the City Manager to execute a subrecipient contract with the Housing Authority for the Clty of Fort Worth, Texas Doing Business As
Fort Worth Housing Solutions in the amount of $750,000.00 in Community Development Block Grant Funds for the construction costs
associated with infrastructure improvements in support of the Cowan Place Affordable Housing Development located at 5400 East
Rosedale Street;
Authorize the City Manager, or his designee, to substitute funding years in order to meet United States Department of Housing and Urban
Development commitment, disbursement and expenditure deadlines; and
Authorize the City Manager, or his designee, to amend contract as necessary for completion of the project provided any amendment is within
the scope of the program and complies with City policies and all applicable laws and regulations governing the use of federal grant funds.
DISCUSSION:
On October 22, 2019, City Council authorized the City to act as a co-applicant with Fort Worth Housing Solutions (FWHS) for a Choice
Neighborhoods Implementation (CNI) grant from the U.S. Department of Housing and Urban Development (HUD), adopted a revised Cavile
Place/Historic Stop Six Neighborhood Transformation Plan (Transformation Plan), and committed $39,375,654.00 over a six-year period for
various improvements and activities in the Cavile Place and Historic Stop Six neighborhood, subject to receipt of the grant. In Spring 2020, the
City was notified that the City and FWHS had been awarded the CNI grant. (Mayor and Council Communication (M&C) 19-0268). As co-applicant,
the City agreed to support FWHS in implementing the Transformation Plan by providing resources to eligible activities, including a commitment of
$3,250,000.00 in Community Development Block Grant (CDBG) funds to be awarded over the next six years. The purpose of this M&C is to move
forward with awarding CDBG funds for the first year in the amount of $750,000.00 for eligible activities.
The Cowan Place Project (Project) is part of Phase 1 of the Transformation Plan and will consist of a new multifamily, affordable apartment
complex. The Project will have up to 174 units for seniors 55 and older, with 156 units set aside for households earning sixty percent or less of area
median income (AMI) and at least five percent of the total units set aside as permanent supportive housing (PSH) units. Phase 1 will also include
infrastructure improvements in support of the Project. These improvements include, but are not limited to, improvements within the public right of
way such as street reconstruction, water and/or sewer improvements, curb and gutter, public sidewalks, and street lights.
Staff recommends the execution of a subrecipient agreement with FWHS in the amount of $750,000.00 in CDBG funds, to be paid on a
reimbursement basis, to fund the construction costs of the infrastructure improvements necessary for the completion of the Project. So long as
FWHS completes all obligations and complies with all City and CDBG requirements, there will be no repayment of the CDBG funds. Contract term
will commence on the date of execution and will expire upon the completion of the 5-year pertormance period.
In addition to CDBG funding, the City also committed to providing additional funds from various federal grants in support of the Transformation
plan, including the HOME Investment Partnerships Program and the Urban Development Action Grant. Authorization for use of the additional funds
for the Project is being sought through a separate M&C.
The Fort Worth Housing Finance Corporation (FWHFC) approved a resolution in support of the CNI grant and the Transformation Plan on October
22, 2019. The resolution set aside $1,250,000.00 of FWHFC funds for construction-to-permanent loans for affordable housing development
financing and an additional $1,250,000.00 specifically for the development of Permanent Supportive Housing. (Resolution No. FWHFC-2019-06).
A portion of these funds are anticipated to be used in support of the Project.
The Project will assist the City in fulfilling its goals under the City's Comprehensive Plan, Choice Neighborhoods Implementation Grant,
Transformation Plan and Consolidated Plan by providing quality, accessible, affordable housing for low- to moderate- income residents and
supporting economic development and revitalization.
A Form 1295 is not required because: This contract will be with a governmental entity, state agency or public institution of higher education: Fort
Worth Housing Solutions
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations, funds are available in the current operating budget as
appropriated, in the Grants Operating Federal Fund. Neighborhood Services (and Financial Management Services) will be responsible for the
collection and deposit of funds due to the City. Prior to an expenditure being incurred, Neighborhood Services has the responsibility to validate the
availability of funds. This is a reimbursement grant.
Submitted for City Manager's Office bk Fernando Costa 6122
Originating Business Unit Head: Victor Turner 8187
Additional Information Contact: Chad LaRoque 2661
Leticia Rodriguez 7319
Routing and Transmittal Slip
Neighborhood Services
Department
DOCUMENT TITLE: Cowan Place – Fort Worth Affordability, Inc –
UDAG Contract - FIRST AMENDMENT to CSC NO. 56160
M&C 21-0498 CPN CSO # 56160 DOC# _
DATE:
1. Chad LaRoque
2. Kacey Bess
3. Leslie L. Hunt
4. Fernando Costa
5. Jannette S. Goodall
6. Allison Tidwell
DOCUMENTS FOR CITY MANAGER’S SIGNTURE:All documents received from any and all
CityDepartments requesting City Manager’s signature for approval MUST BE ROUTED TO
THE APPROPRIATE ACM for approval first. Once the ACM has signed the routing slip, David
will reviewand take the next steps.
NEEDSTO BE NOTARIZED:Yes X No
RUSH:Yes No SAME DAY :Yes No NEXT DAY :Yes No
ROUTINGTO CSO:x Yes No
Action Required:
As Requested Attach Signature, Initial and NotaryTabs
For Your Information
X Signature/Routing and Recording
Comment
File