HomeMy WebLinkAboutContract 45055 AuTy 9ECRETARY
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STATE v +
COUNTYOFTARRANT
This contract "Contract" is rude and entered, into by and between the City of Fort
Worth (hereafter "City" and Decatur-Angle ltd. hereafter "Developer"), a Texas; limited
partnership. City and Developer may be referred to individually as a "'Part y" and jointly as "the
Parties".
The p"arti"es state as follows:
WHEREAS, City has received a grant from the United States Department of Housing and
Urban Development through h the HOME Investment Partnerships ps P"rag arn, Catalog of .federal
Domestic Assistance No. 14.239, with which City desires to promote activities that expand the
supply of affordable housing and the development of partnerships among City, local
governments, local lenders, private industry and neighborhood-based nonprofit housing
organizations;
WHEREAS, the primary purpose o the HOME program pursuant to the HOME
Investment Partnerships Act at Title II of the Cranston Gonzales National Affordable Housing
Act of 1990, as amended, 42 U.S.C. 12701 et seq. and the HOME Investment Partnerships
Program Final Rule, as amended, 24 CFR Part 92 et seq. is to benefit low income citizens by
providing them with affordable lousing,
WHEREAS, Developer is a Texas limited partnership consisting of Decatur-Angle GP,
LLC, a Texas limited liability company, as General Partner- P Decatur-Angle S P, LLC, a
Texas lirr.ited liability company, as Class "B" Special Limited Partner; Bank of America, N.A.,
as Investor- and, an affiliate of Investor as Special Limited partner. The Fort `worth. Housing
Finance Corporation, a Texas housing finance corporation, is the Sole Member, of the General.
Partner and will he the fee owner of the land on which the project will he constructed
WHEREAS, Developer proposes to use HOSE Winds for an eligible project under the
HOME Regulations whereby(Developer will cons,truct, develop, own and operate a new 302-unit
multifamily rental complex in the City of Foil Worth.
WHEREAS, Developer has applied for an award of Housing Tai. Credits from the Texas
Department of Housing and Community Affairs to finance the development of the project to he
commonly known as the Reserve at Western Center, and
WHEREAS, City citizens and the City Council have dote fined that the development of
quality, accessible, and affordable housing is needed for moderate, low, and verb' low-income
City citizens.
NOW, THEREFORE in consideration of the mutual covenants and obligations and
responsibilities contained herein, including all Ex , and u.hje t t the
tens and conditions hereinafter stated, the Parties a follows..,
CITY SECRETARY
R F C F I V ED , 2 9t 2013 FTo WORTH, TX
INCORPORATION OF RECITALS*
City and Developer hereby agree that the recitals set forth above are true and correct and
formthe basis upon which the Parties have entered into this Contract.
2• DEFINITIONS,,
In addition to terms, defined in the body of this Contract, the following terms shall have
the definitions ascribed to them as follows:
Accessible Units means units accessible to handicapped tenants. Developer must comply with
Section 504 requirements and all other applicable Federal accessibility requirements.
The Required Improvements must contain 23 Accessible Units. Of these 23 units, 16,
must be accessible to individuals with mobility impair-nents, and the other 7 must be
accessible to individuals with visual or hearing impairments.
Act means the HOME Investment Partnerships Act at Title 11 of the Cranston Gonzales National
Affordable Housing Act of 990, as amended, 42 U.S.C. 12701 et seq.
Affordable Rent means a rent amount that does, not exceed the High HOME Rent Limit
published annually by HUD, with applicable adjustment for the bedroom size of the relevant
0
housing unit as more particularly described on Exhibit"A"'— Project Summary.
Affordability Period means, the period of time that HOME Units must be leased to HOME
Eligible Households for Affordable Rent.
The Affordability Period for this project is 20 years. The Affordability Period begins on
the date that the project status is changed to "complete" in IDIS.
Affordability Requirements means the HOME Units remain occupied by HOME Eligible
Households, paying Affordable Rent throughout the Affordability Period in accordance with the
terms of this Contract and the HOME Regulations.
Area Median Income or AMI means the median family income for the Fort Worth-Arlington
i
metropolitan statistical area as set annually by HUD.
Business Diversity Enterprise Ordinance or BDE means the City's Business Diversity
Ordinance, Ordinance No. 20020-12-20 1,1.
Complete Documentaflon means the following documentation,, as applicable:
0 Attachments I and 11, with supporting documentation as follows-,
o Proof of expense: invoices, leases, service contracts or other documentation
showing that payment is due by Dev clop er.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 2
o Proof of payment: cancelled checks, bank statements, or wire transfers, necessary
to demonstrate that amounts were actually paid by Developer.
Other documentation.- (i) final lien releases signed by the general contractor or
subcontractors, if applicable, (1i) copies of all City permits and City-issued "pass"
inspections for such work-, (ill) documentation to show comphance with BDE or DBE
bidding process for procurement or Contract activities, if applicable; (iv) proof of
contractor,, Subcontractor and vendor eligibility as described in Section 6.6-1 and (v)
any other documents or records reasonably necessary to verify costs spent for the
project.
Complete Documentation shall meet the standards described in Exhibit
Standards for Complete Documentation,
Final reimbursement shall not be made until all liens are released to City's
satisfaction.
Completion means the substantial completion of the Required Improvements, as evidenced by a
HED Department Minimal Acceptable Standard Inspection report, HUD Compliance Inspection
Report and any other applicable final inspection appr vai -rro the City showing that the
Required Improvements have met City and HOME standards.
Completion Deadline means July 1, 2015.
DBE means disadvantaged business enterprise in accordance with 49 CFR Part 26.
Deed of Trust means, any deed of trust tom Developer in favor of City covering the Property
and securing the indebtedness evidenced therein and Developer's performance of the
requirements of this Contract and the of the HOME, Regulations, as the same may be extended,
amended, restated, supplemented or otherwise modified. The form of the Deed of Trust is
attached as Exhibit"E"—Loan Documents.
Director means the Director of the City's H Department.
Effecti've Date means the date of this Contract is fully executed by the Parties as, shown by the
date written under their respective signatures.
Fort Worth Housing Authority means the Housing Authority Cif the City of Fort Worth, Texas
municipal housing authority.
HED Department means the City's Housing and Economic Development Department.
HOME means the HOME Investment Partnerships Program.
HOME Elligible Household means a household whose annual income adjusted for family size
does not exceed 80% of A using, the most current HUD Income Guidelines and Technical
HOME DEVELOPER RENTAL CONTRAGr Rev 10-25-13
Decatur-Angle Ltd. Page 3
d'"
uuidance for Determining Income and Allowances. The definition of annual 'income to
determine tenant income eligibility shall be -the definition contained in 24 CFA. Part 5.609, as
amended from time to time.
HOME Funds means the HOME Program grant funds supplied by City to Developer under the
terms of this Contract.
HOME Regulations means the HOME Investment Partnerships Program Final Rule found at 24
CFR Part 92 et s'eq.
HOME Unit means a housing unit subject to the HOME Regulations leased to a HOME Eligible
Household at Affordable Rent for the duration of the Affordability Period as further described in
Exhibit "All Project Summary. The HOME Units, can be designated as either High and/or
Low H01ME units. The HOME 'Units are floating.
This project contains 10 Home Units. Of these HOME Units, I is a one-oearoom unit, 4
are two-bedroom units, 4 are three-bedroom units, and I is a fo�ur-bedroom unit.
High HOME Unit means a unit that must be leased to High HOME Eligible Tenant for, High
HOME Rent. High HOME 'Units can float among units that are materially similar in number of
bedrooms., square footage, and amenities; however, if the units are not materially similar, then
the High HOME units must be fixed.
This project contains 8 High HOME Units. Of these High HOME Units, 'I is a one-
bedroon'i unit, 3 are two-bedroom unitsl 3 are three-bedroom units, and I is a four-
.
beduroom unit.
High HOME Efigible Tenant means (1) for a tenant who is the first to occupy a High HOME
Unit, a tenant whose annual income adjusted for family size does not exceed 60% of AMI, and
(ii) for a tenant who is not the first to occupy a High HOME Unit, a tenant whose annual income
adjusted for family size does not exceed 80% of AMI. Tenant income must be verified using l e
most, current HUD Income Guidelines and Technical Guidance for Determining Income and
Allowances subject to the income verification requirements of Section 7.2 of this Contract.
High HOME Rent means a rent amount that is the lesser of(i) the HUD-es,tablished Fair Market
Rent for existing comparable housing units in the area,, or (ii) 30% of the adjusted income,, of a
family whose annual income equals 65% of AMI with applicable adjustment for the bedroom
size of the relevant housing unit. High Home Rent may not exceed the maximum rent
limitations set by HUD minus utility allowances. For the purposes: of this Contract, "utility
allowances" are those monthly allowances for utilities (excluding, telephone) published annually
by the Fort Worth Housing Authority.
Housing Tax Credits means the federal low income housing tax credits allocated by the Texas
Department of Housing and Community Affairs acting under Section 42(h) of the Internal
Revenue Code olf'1986, as amended.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
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HUD means the United States Department of Housing and Urban Development.
IDIS means Integrated Disbursement Information System, HUD's proj,ect tracking system.
Investor means Bank, of America, N.A. and any successors and assigns.
Loan Documents means security instruments which Developer or any other party has executed
and delivered to City including without limitation, the City's Promissory Note and, Deed of
Trust, or any other similar security instruments evidencing, securing or guaranteeing, City's
interest in the Required Improvements constructed under this Contract and further evidencing,
securing,, or guaranteeing, Developer's performance of the Affordability Requirements during the
Affordability Pen'od, as the same may from time to time be extended, amended, restated,
supplemented or otherwise modified.
Low HOME Ell"giffile Tenant means a tenant whose annual income adjusted for family size does
not exceed 50% of A set by HUD. Tenant income must be verified using the most current
HUD Income Guidelines and Technical Guidance for Determining Income and Allowances
subject to Section 7.2 of this Contract.
Low HOME Rent, means a rent amount that is no more than 30% of the annual income of a
family at 50% of A adjusted for farnily size. Low Home Rent may not exceed the maximum
rent limitations established by HUD min-us utility allowances. For the purposes of this Contract,
"-utility allowances" are those monthly allowances for utilities (excluding, telephone) published
annually by the Fort Worth Housing Authority.
Low HOME, Unit means a unit that must be leased to Low HOME Eligible Tenant for Low
HOME Rent. Low HOME Units can float among units that are materially similar in number of
square footage, and amenities- however, if the units are not materially similar, they
bedrooms, I I
the Low H01ME units must be fixed. If there are more than 5 HOME Units, then 20%, of the
total HOME units must be designated as Low.
This project contains 2 Low HOME Units. Of these Low HOME Units,, I is a two-
bedroom unit and I is a three bedroom unit.
Plans means, the plans and specifications related to the Required Improvements prepared by the
Developer's architect which have been delivered to and then reviewed and approved by City on
or before the Effective Date, and any and all amendments thereto approved by City.
Promissory Note means any note in the arnount of the HOME Funds executed by Developer
payable to the order of City, as the same may, be extended, amended, restated, supplemented or
otherwise modified, The form of` the Promissory Note is attached as Exhibit "E"' — Loan
Documents.,
Property means the land on which the Required Improvements shall be constructed as more
particularly described in and encumbered by the Deed of Trust.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
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Required Improvements or the project means all the improvements for a 302-unit affordable
rental housing project to be constructed on the Property, together with all fixtures, tenant
improvements and appurtenances now or later to be located on the Property and/or in such
improvements. The Required Improvements are commonly known as the Decatur-Angle
Apartments. The project is located at the northeast corner of Old Decatur Road and Angle
.venue, Fort Worth, TX 76106.
Reimbursement Request means all reports and other documentation described in Section 10.
41,
Section 504 requirements means the requirements of Section 504 of the Rehabilitation Act of
1973 to provide accessible housing to persons, with disabilities. Section 504 requires that 5% of
the units, (but not less than I unit) in a newly constructed multifamily project must be accessible
to individuals with mobility impairments, and an additional 2% of the units (but not less than I
unit) must be accessible to individuals with sensory impairments.
41 .1
Subordination Agreement means the Subordination Agreement among Bank of America, N.A.,
Developer and City outlining the relative priorities of Bank of America's construction and
permanent loan and the City's Loan for the proj,ect.
TI)HCA means the Texas Department of Housing and Community Affairs.
Tenant Documentation means any documentation allowed under the definition of annual
income in 24 CFR Part 5.609 sufficient to show that a tenant is a HOME Eligiblle Household.
Documentation may include but is not limited to play check stubs, Social Security statements, W-
2 forms, and/or payments in lieu of earnings, (unemployment) for initial tenant 'income eligibility
v *ficat" ion re aired every 6 1h, year of the Affordabili
en ions, and the tenant income verificati ity
Period. Documentation for tenant income eligibility ven"fications for other than the initial lease
and the 6'h year of the Affordability Period shall be a, City approved income self-certification
form.
30 "FERM AND EXTENSION.
3.1 Term of Contract.
The term of this Contract commences on the Effective Date and ten-ninates in 3 years
unless, earlier terminated as provided in this Contract.
3.2.4 Extension of Contract.
This Contract may be extended for 1 year upon Developer submitting a request for an
extension in writing at least 60 days prior to the end of the Contract term. The request for
extension shall include the reasons for the extension, and Developer's anticipated budget,
construction schedule and goals for the extended term. it is specifically understood that it is
within City's sole discretion 'whether to approve or deny Developer"s request for an additional
term. Any such extension shall be in the form of an amendment to this Contract.
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3.3 Term of Loan.
The to of the Loan shall c mmence on the date of the Promissory Note and terminate
(i) for the repayment of the HOME funds, 20 years later, and (i*l*) for Developer's performance of
the Affordability Requirements, the tennination of the Affordability Period. The Loan, both as
to payment and performance shall terminate at the expiration of'the Affordability Period, so long
as the terms and conditions of this Contract and the Loan Documents have been met.
4. DUTIES AND RESPONSIBILITIES OF CITY'.
4.1 Provide HOME Funds.
City shall provide up to One Million and No/10 Dollars $1,000,0+ 0.00 of HOME
Funds in the form of a subordinate loan for part of the cost of the construction of the Required
Improvements, under the terms and conditions described herein the "Loan").
4.2 ciy Will Monitor,
City will monitor the activities, and performance of Developer and any of its contractors,
subcontractors or vendors, throughout the Affordability Period, but no less than annually as
required by 24 CFR Part 92-504.
5, DUTIES AND RESPONSIBILITIES OF DEVELOPERO
5�.1 Required Im rovements.
Developer shall construct the Required Improvements as described in Exhibit "A"" —
Project Summary in accordance with the Plans, the schedule set forth 'in Exhibit "C"
Construction and Reimbursement Schedule, and the terms and conditions of this Contract.
5.2 Use of HOME Funds.
5.2.1 Compliance with HOME Regulations and Contract.
Developer shall be reimbursed for eligible project costs with HOME Funds only if City
determines in its sole discretion that:
x.2.1.1 Costs are eligible expenditures in accordance with HOME
Regulations.
5.2.1.2 Costs are in compliance with this Contract and are reasonable and
consistent with industry norms.
5.2.1.3 Complete Documentation, as applicable, is submitted by Developer.,
5.2.2, Bud et
Developer agrees that the HOME Funds, will be paid on a, reimbursement basis in
accordance with Exhibit "B" - Budget and Exhibit ,"'C" - Construction and Reimbursement
Schedule, Developer may increase or decrease line item amounts in the HOME Funds Budget
with the Director's prior written approval, which approval shall be in the Director's sole
HOME DEVELOPER RENTAL CONTRACT Rev 1.0-25-13
Decatur-Angle Ltd. Page 7
discretion, so long as the expenses are in compliance with Section 5.2.1 and Exhibit "A
Project Summary, and the total amount of HOME Funds, is not increased.
5.2.3 C r W 0
As- an ge in Pr 'ect B!Ldget.
5.2.3.1 Developer will notify City promptly of any additional funds it receives
for construction of the project, and City reserves the right to amend
this Contract in such instances to ensure compliance with HUD
regulations governing cost allocation.
5.2.3.2 Developer agrees to uti,lize the HOME Funds to supplement rather
than supplant funds otherwise available for the project.
5.3 Payment of HOME Funds to Developer.
HOME Funds will be disbursed to Developer upon City's approval of Developer"s
written and signed Reimbursement Requests, including submission of Complete Documentation
to City in compliance with Section 10. As more particularly described in the HOME Funds
Budget, City will hold back $30,000.00 of the HOME Funds, until City verifies that a HOME
Unit has been leased to a HOME Eligible Household. It is expressly agreed by the Parties that
any HOME Funds, not reimbursed to Developer in accordance with the terms of this Contract
shall remain with City.
5.4 Idenfi1,f y Pr2JecEenses aI d wI*
th HOM Funds,.
Developer will keep accounts and records in such a manner that City may readily identify
and account for project expenses reimbursed with HOME Funds., These records shall be made
available to City for audit purposes and shall be retained as required hereunder.
5.5 Acknowledeement of.City Lay men t of HOME Funds.
Within 90 days of Completion, Developer shall sign an acknowledgement that City has
plaid all HOME Funds due under this Contract, or shall deliver a document executed by an
officer of Developer identifying all or any portion of the HOME Funds that City has not paid to
Developer. Once, City has met all of its obligations for payment of HOME Funds hereunder, an
officer of Developer shall sign an acknowledgement of same.
40
5.6. Securrl� for CLq's Interest*
To secure City's interest in the Required Improvements and the performance of
Developer's obligations hereunder, Developer shall execute the Loan Documents and record the
Deed of Trust encumbering the Property at the closing of Developer's construction loan,. No
HOME Funds will be paid or reimbursed until the Deed of Trust is recorded., The City's interest
in preserving the affordability of the HOME Units will be additionally secured by the
Declaration of Land Use Restrictive Covenants ("LURA") established and enforced by TDHCA
for the Housing Tax Credits. The TDHC:A's LUR-A shall restrict the project and Property to
certain occupancy and rent requirements for a period of 40 years.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 8
5.bw 1 Loan Terms and Londitions,
Developer will be required t
5.6.1.1 Execute and deliver the Promissory Note and Deed of'Trust along with
any other Loan Documents required by City.
5.6.1.2 Provide City with a Mortgagee's Policy of title insurance %n the
amount of
the .lean.
5. .1.3 Pay all casts associated with closing the Loan.
.6.1.4 Provide Cit y with an estimated settlement statement ftom the title
company,at least business day before closing,
5.6.1.5 Ensure City's lien is subordinate only to the senior indebtedness
described in the Subordination Agreement. City" must approve in
writing any secured financing for the project that is, to be subordinate
to the ;loan.
,5.6.1.6 The tarn of the .loan shall be as specified in Section 3.3.
5.6.1.7 Interest shall accrue at the lesser of the Long Term .pplicable Federal
.ate in effect on the date of the Promissory Note, or 1% per annum.
Payment of principal and interest shall be based on a 30 year
amortization rtization schedule. Principal and interest shall be due and payable
in equal annual installments beginning can the earlier of 3 months or
the conversion of the construction loan to a permanent loan, and
continuing annually thereafter until the maturity date of 'the loan as
described in the Promissory Note. Any payments will be applied first
to accrued interest and -the remainder to reduction of the principal
amount.
5.6.1.8 nn.c%pal and interest shall be payable out of net cash how as defied
in Developer's Agreement of Limited Partnership, as may be amended
and restated from time to time, or in some other document mutually
agreeable to the parties. Principal and interest to the extent not paid
from net cash flow :shall accumulate from year to year until paid but in
no event shall the principal and interest be repaid later than the
maturity date set forth in the Promissory Note. In addition, 25 of
excess cash flow after the repayment of the deferred developer fee will
be paid in addition to regular payments of principal and interest.
5.6 1-9 Early repayment of the Loan shall not relieve Developer of its
obligations under this Contract or the HOME Regulations including
but not limited to the affordability Requirements and other HOME
requirements. The iced of Trust shall secure both repayment of the
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page
HOME Funds and performance by Developer of its obligations under
this Contract during the Affordability Period.
5.6.1.10 Except for pie rn-ianent loan conversion with Developer's e anent
lender, refinancing by Developer shall require the review and prior
written approval of City for the purpose, of ensuring compliance with
the, Affordability Requirements, which approval shall not be
unreasonably withheld, conditioned or delayed.
5.6.L I I Any failure by Developer to comply with this Section 5.6.1 will be an
event of default under this Contract and the Loan Documents.
5.7 a* al* Affordabilit # .
-v Reg�uire
Developer shall ensure that the HOME Units shall be occupied by HOME Eligible
Households, throughout the Affordability Period as required by the HOME Regulations.
Developer must notify the City in writing within 30 days of either of the following occurrences:
(I*) a HOME Unit is occupied by a tenant who is not a HOME Eligible Household, or (11) a
HOME Unit remains, vacant for more than 90 days. In the event that a HOME Unit, is occupied
by a tenant who is not a HOME Eligible Household, Developer shall have 30 days to determine
if a market,rate tenant qualifies, as a HOME Eligible Household or fill an empty market rate unit
with a HOME Eligible Household. If either(i) or (ii) takes place and is not cured within the time
limits described in this Section, then Developer shall pay to City 10% of the Loan amount as
liquidated damages. The Parties agree -that City's actual damages in the event of either(1) or if
happening and remaining uncured are uncertain and would be difficult to ascertain and may
include a finding by HUD, a repayment of funds to HUD by City or otherwise impact the City"s
HOME grant or other Federal grant funds. Therefore, the Parties agree that payment under this
Section of 10% of the Loan amount by Developer to City is liquidated damages and not a
penalty.
5.81 AffordabilLq Rep uire tints Survive Transfer.
The HOME Units must remain affordable without regard to the to of any mortgage or
transfer of ownership, pursuant to the terms of the Loan Documents, any deed restrictions or
other mechanism provided by HUD. Any sale or transfer of the pre ject during the Affordability
Period, excluding a transfer due to condemnation or to obtain utility services, may at City's sale
discretion require the repayment of the HOME Funds unless the new owner or transferee
affirmatively assumes in writing the obligations established hereunder for the HOME Units for
whatever time remains of the Affordability Period. Failure of the transferee to assume the
Developer's obligations under this Contract and the Loan Documents will result in te n. -nination
of'the Contract. In addition, City may pursue any of its remedies under the Loan documents if
the transferee falls to assume the f Developer's obligations to maintain the Affordability
Requirements throughout the Affordability Period.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-
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CONSTRUCTION.
6.1. C nstruefion Schedule,,
.e,,
Developer will construct the Required Improvements In accordance with the schedule set
forth in t:he attached Exhiblt "C" Construction and Reimbursement Schedule. Developer
shall not begin construction until City sends a Notice to Proceed Developer's, failure to met the
Construction Schedule (as It may be modified in accordance with Section 14.1 shall be an
event of default. Subject to Section 14.1 9, Developer, may not change the Construction
Schedule without the Director's
prior written approval, which approval shall be In the Director's
sale discretion..
6.1.1 Construction Ins ections
The construction of the pro,ect must pass Department epa ent Minimal Acceptable
Standard Inspection report, a BUD Compliance Inspection Report and any other applicable
H -re�qulrcd inspections, during the construction period, along with any a pp final
nal
inspection approval from the City at the completion of the construction of the project.,
6.2 IIcblc Laws, Build Ire and Ordinances.
The Flans and construction for the Required Improvements s to all
hall conform
applicable Federal, state, City and other local laws, ordinances, codes, rules and regulations,
including the HOME Regulations- 11 meet all City building, cedes; (111) meet the Energy"
Conservation requirements as required by the State of Texas In Chapter I l o f the International
Residential, Code, lv if new construction, must conform to the Model Energy Code published
by the Council of American Building Officials; and must pass a. HUD Compliance Inspection
Report and insp ection by City's HED Department inspectors.
6.3 Pr2Rerq Standards Dur,1112 Uonstruction,
Developer shall comply with the :following as applicable during the construction of the
Required Improvements: i the property Standards, and Dousing Quality Standards S
contained in 24 CFR D'art 92. 1, 11) Accessibility Standards under 24 CFR art 92.251 a 3),
(iii) any City property standards, and iv all other accessibility standards for the project.
6.4 Lead-Based Paint Re ukements
Developer will comply with any applicable Federal lead used paint requirements
including bead screening in buildings built prior to 1978 in accordance with 24 CFA Part 92.355
and 24 CFR Part 35, subparts A, B, ,I, K, M, and R, and the Dead-, Renovation, Repair and
Fainting Program Final Rule, 40 CFR part 745, in the construction and/or rehabilitation lltation of the
Required Improvements.
6.5 Approval of Pans and Spec' cations �l c►t Release o Res onsI II
Approval of the Plans by City shall not constitute or be deemed (1) to be a release of the
responsibility p 'blllty or liability of Developer or any of its contractors or subcontractors, or their
respective officers, agents, employees and lover tier subcontractors, for the accuracy or the
competency of the Flans, including, but not limited to, any related investigations, surveys,.
designs, working drawings and specifications or other, documents; or n an assumption of any
responsibility or liability by City for any negligent act, error or omission in the conduct or
ROME DEVELOPER IZENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page I I
preparation of any investigation, surveys, designs,, working drawings and specifications or other
documents by, Developer or any of its contractors or subcontractors,, and -their respective o�fficers,
agents, employees and lower tier subcontractors.
6.6 Contractor Subcontractor and, Vendor Requirements'.
Developer will use commercially reasonable efforts to ensure that all contractors or
vendors utilized byDeveloper or subcontractors utilized by Developer's general. contractor are
appropriately licensed and such licenses are maintained throughout the construction of the
Required Improvements and -the operation of the project when applicable. Developer shall
ensure that all contractors utilized by Developer, subcontractors utilized by Developer's general
contractor in the construction of the Required Improvements, or vendors utilized by Developer in
the operation of the project are not debarred or suspended from performing the co�ntractor's,
subcontractor's or vendor's work by the City, the State of Texas, or the Federal government.
Developer must confirm that all contractors, subcontractors or vendors are not listed on the
Federal System for Award Management, www.sam.gov, and must submit printed ven'fication of
such searches (i) with the first Reimbursement Request which include invoices from, any
contractor or subcontractor, or (n) prior to hiring any vendor during, the operation of the proj,ect
during the Affordability Pe6od. Failure to submit such proof of search shall be an event of
default., In the event that City determines, that any contractor, subcontractor or vendor has been
debarred, suspended, or is not properly licensed, Developer or Developer's general contractor
shall 'immediately cause the contractor, subcontractor or vendor to stop work on, the project.
Developer shall not be reimbursed for any work perfon-ned by and contractor, vendor or
subcontractor that has been debarred, suspended, or is not properly licensed. However, this
Section should, not be construed to; be (-,In assumption of any responsibility or liability by City for
the, determination of the legitimacy, quality, ability, or good standing: of any contractor,
subcontractor or vendor. Developer acknowledges that the provisions of this Section pertaining
to the Federal System for Award Management shall survive t1i,e termination ofthis Contract and
be applicabile for the length of the Affordability Period.
6.7. Furnish Comlete Set of"�As Built" Plans.
Developer shall furnish City a complete set of "as built" or marked-up plans for the
project at completion of construction after all final approvals have been obtained.
7. TENANT AND LEASE -R-EQUIRMENTS* PROPERTY STANDARDS DURING
AFFORDABILITY PERIOD,
7.1 Income Eli ibitily.
..g_
Developer must use the definition of annual income used by 24 CFR 5.609 to establish
tenant income eligibility. Developer shall use the most current HUD fncome Guidelines.
Developer shall maintain Tenant Documentation sufficient to show that 'the H01ME Units are
occupied by HOME Eligible Households.
7.2 Income Veriffication.
7.2.1 Developer must verify that all tenants, of HOME Units are HOME Eligible
Households with full Tenant Documentation, at the time the initial lease for a HOME Unit 'is
HOME DEVELOPER RENTAL CONTRACT Rev 1 O�-25�-13
Decatur-Angle Ltd. Page 12
executed. Tenants must certify the number of people in tenant's household along with such
person's names and ages. Developer shall obtain financial information on all members of a
tenant's household.
7.2.2 Developer must verify the income of the tenants, of the HOME Units annually,
after the initial lease is executed, but may use a City-approved tenant seif-certificlation form as
Tenant, Documentation. Notwithstanding, the foregoing, Developer must verify the income
eligibility of all HOME Eligible Households with full Tenant Documentation every 6th yea. "
of the Affordability Period.
7.2.3 Developer must maintain copies of Tenant Documentation as required under this,
Contract.
7.2.4 As part of its monitoring, City will review Tenant Documentation during the
Affordability Pen*od.
7.3 Tenant Lease,
7.3.1 Developer shall submit to City the form of its tenant lease prior to leasing any
HOME Unit. Such lease shall comply with the provisions, of 24 CFR Part 92.253 regarding the
following issues:
7.3.1.1 Length of lease term shall not exceed 2 years and may not be shorter
than I year.
7.3.1.2 Lease may not include agreement by tenant to allow landlord to take,
hold or sell tenant's property without notice.
7.3.1.3 Lease may not include agreement by the tenant to excuse owner from
responsibility for intentional or negligent acts.
7.3.1.,4 Lease may not authorize landlord to institute a lawsuit without notice
to the tenant.
7.3.1.5 Lease may not include agreement by tenant to waive a jury trial or
right of'appeal.
7.3.1.6 Lease may not include an agreement by tenant to pay legal costs of
court proceeding even if the tenant prevails in those proceedings
regardless of outcome.
7.3.2 Developer shall provide City copies of revised lease forms within 30 days of any
Shane to its lease form. All changes to Developer's lease form shall comply with the
requirement of'Section 7.3-I-
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angl,e Ltd. Page 13
". Taunt Household Characteristics,
cs,
7.4.1 Developer shall provide City with the information about the household
characteristics of the first tenant renting a HOME Unit on Fxhibit 'I II -- Project Co �Nance
Report: Rental Holusing.
7.4.2 At City's request, Developer shall provide demographic information on all tenants,
in the project in order to show compliance with Section 7.7 during the Aff �rdahllity Period.
7.5 Tenant Rent.
Rents charged to tenants of the HOME Units, are subject to 24 CFR 92.252 a, and (b)
and are subject to review and approval by City at initial lease up and prior to any rent increases.
Under no circumstances may the maximum rent charged to tenants of HOME Units exceed the
High Home Rent minus utility allowances excluding telephone). Developer agrees to .hide by
HUD-approved schedules of HOME rent levels and the locally adopted utility allowances
published e annually by the Fort Worth Housing Authority.
7.6 Tenant Selection
Within 90 days c 'the Effective Date, Developer must submit to City for City"s approval.
Developer's tenant selection policy and criteria that address the following:
.6. The tenant selection pw liey must lie consistent with the purpose of providing
lousing for very lover and low income persons.
7.6, The tenant selection policy must provide for:
7.6.2.1 Selection of tenants from , written waiting list In the chroin lo ical
order of their application, insofar as is practicable-,
7. .2.2 Prompt written notification to any rejected applicant of the grounds for
such rejection; and
7.6.2.3 -lingual leasing and management assistance.,
7.6.3 Holders of rental assistance, subsidies (such as HUD's Housing Choice Voucher
o similar suuhsid r must not be excluded frame renting a unit in the pry ect.
7.6.4 The tenant selection policy must address non-discrimination and affin-native
marketing as discussed in Section 7.7.
7.6.,5 Developer must market Accessible Units in the following order:
7..6.5.1 Within the project to persons requiring an accessible unit.
7.6.5.2 persons on the waiting list requifing an accessible unit.
HOME DEVELOPER RENTAL CO�NTRACT Rev 5
Decatur-Angle Ltd, Page
7.6.5.3 To the general community for persons requiring accessible unit.
7.6.5.4 To persons that do not require an accessible unit.
7.6.6 The tenant selection, policy must address the lease requirements described in
Section 7.3.,
7.6.,7 The tenant selection policy must address managing,HOME Unit requirements.
7.6.8 The tenant selection policy must comply with state and local tenant/landlord laws.
7.7 Affirmative Market'
Developer must adopt and implement affirmative marketing procedures as required by 24
CFR 92.351 if the project involves the construction of 5 or more HOME Units. The procedures,
and requirements must include methods for informing the public, owners and potential tenants
about fair housing laws and policies so as to ensure that all individuals are given an equal
opportunity to participate in the project without regard to sex,, age, race, color, creed, nationality,
national origin, religion, handicap status, disability, familial status, sexual orientation, gender
identity, gender expression or trans gender. The procedures and requirements must designate an
individual who will be responsible for marketing, 'the project and must establish a clear
application screening plan. They must also provide for the maintenance of documentation and
records to evidence that affin-native 'marketing procedures have ben implemented. Developler's,
0
affirmative marketing procedures must be submitted to City for approval prior to
4
implementation; provided however, City shall have no responsibility for affirmative marketing of
the project.
7.8 Pro pper q,Ins ecfions During Ini'lial Lease l-Up of-HOME, Unifts,
City shall inspect units in the project before they are placed into service. City shall
inspect the HOME Units prior to, a HOME Eligible Household occupying such unit to ensure that
each HOME Unit meets the appropriate HOME standards. Thereafter, City will inspect the
HOME Units annually.
7.91 Prop�er Maintenance and Inspections, During Atfordability Period.
Developer shall ensure that the project is maintained in accordance with all applicable
HUD property standards for the duration of the Affordability 'Period, which at a minimum shall
be those property, standards required in 24 CF`R Part 92. City will verify maintenance of the
project to these standards through on-site inspections every year.
8. ADDITIONAL HOME REO ICI REMENTS.
Developer agrees to comply with all requirements of the HOME Program as stated in the
HOME Regulations, including, but not limited to the following:
8.1 Environmental Review.
HOME Funds will not be paid and costs cannot be incurred until City has conducted and
completed an environmental review as required by 24 CFR Part 58. The environmental review
HOME DEVELOPER RIENTAL CONTRACT Rev 101-25-13
Decatur-Angle Ltd., Page 15
may result in a decision to proceed with, modify, or cancel the project. Further, Developer will
not undertake or cornmit any funds, to physical or choice limiting actions, i,ncluding if applicable,
property acquisition, demolition, movement, rehabilitation, conversion, repair or construction
prior to the environmental clearance., Any violation of this Section will (i) cause this Contract to
terminate immediately; (ii) require Developer to repay to City any HOME Funds received and
forfeit any future payments, of HOME Funds; and (111) Developer must pay 10% of the HO�ME
Funds to City as liquidated darnages. The Parties agree that City's actual damages in the event
of Developer violating this Section are uncertain and would be difficult to ascertain and may
include a finding by HUD, a repayment of funds to HUD by City or otherwise impact the City's
HOME grant or other Federal grant funds. Therefore, the Parties agree that payment of 10:% of
the Loan amount by Developer to City under this Section is liquidated damages and not a
penalty.
8.1.1 Miotii!atioon,
Developer must take the mitigation actions outlined in Exhibit "A-2,11 —: Environmental
Mitigation Actions. Failure to complete the required mitigation action is an event of default
under this Contract.
8.2 Intentionally Omitted.
8.3. Monitoring,.
8.3.1 Developer understands and agrees that during the Affordability Period and for 5
years after the Affordability Period terminates, it will be subject to monitoring by City for
compliance with the HOME, Regulations during the Affordability Period., Developer wi.11
provide reports and access to; project files as requested by City during the Affordability Period
and for 5 years after it ends.
8.3.2 Representatives of City, HUD and the United States Comptroller General shall
have access, during, regular business hours upon at least 4�8 hours prior notice to Developer's
offices and records that are related to the use of the HOME Funds, irectors,
,, and to its officers, d'
agents, employees, contractors, subcontractors and vendors for the purpose of such monitoring
8.3.3 In addition to other provisions of this Contract regarding frequency of monitoring,
City reserves the right to perfon-n desk reviews or on-site monitoring of Developer's compliance
with the terms and conditions of this Contract and the Loan. After each monitoring visit, City
shall provide Developer with a written report of the monitor's findings. If the monitoring report
notes deficiencies in Developer's performance, the report shall 'Include requirements for the
timely correction of said deficiencies by Developer. Failure by 'Developer to take the action
specified in the monitoring report may be cause for suspension or termination of this Contract as
Provided herein, or City may take all actions allowed in the Loan Documents.
8.3.4 This Section 8,.3 shall survive the earlier termination or expiration of this Contract
and be applicable for the duration of the Affordability Period and for 5 years, thereafter. .
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 16
8.4 Compliance un+ce with the Uniform Relocation Act.
Ifapplicable, Developer shall comply with the relocation requirements of 24 CFR Part
92.353 and all other applicable Federal d state laws and City ordinances and requirements
M
pertain ng to relocation.
8.5 Co fiance with T iav s-B icon .pct.
If applicable, Developer and its general contractor and all lower tier subcontractors will
comply with this Davis-Bacon .pct as described in Section 14.14 and Exhibit 11H" -- Davis-
Bacon equ remen.ts--- Federal Labor Standards Provisions.
8.6 D ve o er Procurement Standards.
Developer shall ensure that procurement of materials and services is done in post
effective manner. Developer shall comply with all applicable Federal state and local laves,
regulations, and ordinances, for making procurements under this Contract.
Copyright and Patent Rights.
No reports, maps, or other documents produced in whole or in part ender this Contract
shall bet the subject of an application for copyright by or on behalf of Developer. HULA and City
shall possess all ri ghts to invention or discovery, as well as rights in data which may arise as a
result of Developer's performance under this Contract.
8.8 "Terms A icab a to Contractors, Subcontractors and Vendors.
Developer understands and agrees that all terms of't is Contract, whether regulatory or
otherwise, shall supply to any d all contractors, subcontractors and vendors of Developer which
are in any way paid with HOME Funds or who perfo any work in connection with the project.
Developer shall cause all applicable provisions of this Contract to be included ire and made a part
of any contract or subcontract executed in the perfon-nar ce of its obligations hereunder,
including its obligations regarding the Affordability Requirements and the HOME Regulations
during the Affordability Period. Developer shall monitor the services and work performed by its
contractors subcontractors and vendors on a regular basis for compliance tb the Affordability
Requirements, the HOME Regulations and Contract provisions. Developer is responsible to cure
all violations of the HOME Regulations committed by its contractors, subcontractors or "Vendors.
City maintains the right to insist on Developers full compliance with the terms of this Contract
and the HOME Regulations and Developer is responsible for such compliance regardless of whether actions to fulfill the requirements of dais Contract or the HOME Regulations, are taken
by Developer or by Developer's contractors subcontractors or vendors. Developer
acknowledges that the provisions of this Section shall survive the earlier termination or
expiration oft is Contract and be applicable for the length of the Affordability Period.
8:.9 Payment and Performance o�nds.
Sub.ect to the requirements, of 24 CFR part 85.36, Developer shall furnish City with
payment and performance bonds in a form acceptable to City in the amount of the construction
cost for the project but not less than $ ,000,OOO,00.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle ltd. Page 17
V« RECORD KEEPINGI_REPORTING AND DOCUMENTATION REQUIREMEN
RIGHT TO AUDIT.
9.1 Record Kee ing,
Developer shall maintain a record-beeping system as part, of its performance of this
Contract and shall promptly provide City with copies es of any document City deems necessary for
the effective fulfillment of City's monitoring and evaluation res o slbillt es. Specifically,
Developer will keep or cause to be kept an accurate record of all actions taken and all Winds
spent, with supporting and back-up documentation as well as all Tenant cu entatl n.
.developer will maintain all records and documentation related to this Contract for 5 years after
the end of the Affordability Period. any clam, litigation, r audit is initiated before the
expiration of the 5 year period, the relevant records and documentation must be retained until all
such claims, litigation or audits have been resolved.
9�.1.2 Access to Records,
City representatives and HUD or gather Federal agency" representatives will have full
access to, and the right to examine, audit, excerpt and/car transcribe any of Developer's records
pertaining to all matters covered by phis Contract throughout the Affordability Period and for
years thereafter. Such access shall be during regular business hours upon 48 lours prior notice.
9.2 deports,
Developer will submit to City all reports and documentation described in this Contract in
such form as City may prescribe. Developer may also be required, to submit a final performance
and/or final financial report if required by City at the termination of this Contract and/or the
termination of the Loan in such form and within such tires as City may prescribe. Failure to
submit any report or,documentation described in this Contract to City shall be an event of default
of this Contract and City may exercise all of it remedies for default under this Contract and Loan
Documents.
9.3 Chan ge Re or lrr Requirements and Forms.
City retains the right to change reporting requirements and forms at its discretion. City
will notify Developer in writing at least 3�O days prior to the effective date of such change, and
the Parties shall execute a amendment to the Contract re- eetir such change if necessary.
Clily Reserves the RIPht to Audit.
City reserves the right to perform an audit of developer's project operations and finances
at any time during the terra of this Contract and during the Affordability Period and for 5 years
-thereafter, if City determines -that such audit is necessary for City's compliance with the HOME
Regulations or other City policies, and, Developer agrees, to allow access to all pertinent materials
as described herein. if such audit reveals a questioned practice or expenditure, such questions
roust be resolved within 15 business days after notice to
a
Developer of such uestion+e practice
or expenditure. If questions are not resolved, within this period, City reserves the right to
withhold further funding under this ardor other contract(s) with Developer. IF AS A RESULT
F ANY AUDI" IT IS, DETERMINED THAT DEVELOPER HAS FALSIFIED ANY
DOCUMENTATION OR MISUSED, MISAPPLIED OR MISAPPROPRIATED HOME
FUNDS OR SPENT HOME FUNDS ON ANY INELIGIBLE ACTIVITIES, DEVELOPER
HOME DEVELOPER RENTAL CONTRACT Rev 10-25:-13
Deca gle ltd. Page 18
AGREES TO REIMBURSE CITY THE AMOUNT OF SUCH MONIES PLUS THE
AMOUNT OF ANY SANCTIONS, PENALTY OR OTHER CHARGE LEVIED
AGAINST CITY BY HUD BECAUSE OF SUCH ACTIONS&
101. REIMBURSEMENT REQUIREMENTS.
No
Developer shall provide City with Complete Documentation as applicable and the
following reports as shown 'in Exhl*blit "F" — Reimbursement Forms with each Reimbursement
Request.*
10.1 Attachment I—Invoice.
This report shall contain the amount requested for reimbursement in the submitted
request,, and the cumulative reimbursement requested to date (inclusive of the current request).
This report must be signed by an authorized signatory of Developer. By signing Attachment 1,
Developer is certifying that the costs are valid, eligible, and consistent with the terms and
conditions of this Contract, and the data contained in the report is true and correct.
10.2 Attachment 11— Expendifture Worksheet.
This report shall itemize each expense requested for reimbursement by Developer. In
order for this report to be complete the following must be submitted,-,
10.2.1 Invoices for each expense with an explanation as to how the expense pertains
to the project, if necessary; and
10.2.2, 'Proof that each expense was paid by Developer, which proof can be satisfied
by cancelled checks, wire transfer documentation, paid receipts or other appropriate banking
documentation.
10,.3. Deadline for S ittir eimbursement Requests,
All Reimbursement Requests along, with Complete Documentation shall be sub],-nitted by
Developer to City within 60, days from each of the deadlines, as shown in Exhibit "C" —
Construction and Reimbursement Schedule.
1 0.4 Withholdm* i!,Payment.
10.4.1 CITY SHALL WITHHOLD PAYMENT ON ANY REIMBURSEMENT
REQUEST THAT DOES NOT INCLUDE THE REQUIRED COMPLETE
DOCUMENTATION.,
10,4,2 CITY SHALL HAVE NO OBLIGATION TO MAKE PAYMENT ON
ANY REIMBURSEMENT REQUEST THAT IS NOT' RECEIVED WITHIN 60 DAYS OF
THE, DEADLINES SHOWN IN Exhibit"C"—Construction and Reimbursement Schedule.
10.43 In addition,, Developer's failure to timely sub it Reimbursement
Requests and Complete Documentation along with any required reports shall be an event,
of default.
HOME DEVELOPER RENTAL CONTRACT Rev 10-251-13
Decatur-Angle Ltd. Page 19
.w DEFAULT'AND TERMINATION,
11.1 enure to Begin or Complete the :fie uireul .improvements
11.1.1 If Developer falls to e in construction within 6 months of the Effective Date,
the
Contract shall automatically terminate without further warning or opportunity cure, and
with no penalty or liability to City.
11.1.2 If City determines that the Required Improvements were not completed by the
Completion Deadline as may be modified In accordance with Section 14.19) or have failed to
ass any of the inspections, described 'n 'Section 6.1.1, City shall have the right to terminate this
Contract with no penalty �r liability t� City, termination atlon to be effective immediately
upon written notice. City shall also be entitled to demand repayment of the HOME Funs an
enforce any of the provisions of Loan documents for default.
11.2 Failure t Sub *t Complete ocu enta do Durinst Const,ruction.
11.2.1 If Developer falls to submit all applicable llca,ble o plete Documentation during
construction of the Required Improvements In accordance with Exhibit "C" — Construction
and Reimbursement Schedule, or if any report or documentation submitted as part of Complete
Documentation is not In compliance with this Contract or the HOME Regulations as determined
by City, City will notify Developer in writing and the Developer will have 15 calendar days from
the date of the written notice to submit or resubmit any such report or documentation. If
Developer falls to submit or resubmit any such report or documentation within such time, City
shall have the right to withhold payments. If'such failure continues for an additional 15 days (a
total of 30 days) City shall have the right to terminate this Contract effective immediately upon
written notice of such intent with no penalty or liability to City. Notwithstanding anything to the
contrary herein, City will not be required to, pay any HOME Funds to, Developer during the
period -that any such report or documentation is not in compliance with this Contract or the
HOME Regulations.
11.2.2 If any of Developer's Reimbursement Requests are incomplete or otherwise
not in compliance with this Contract or the HOME Regulations as determined by City, City will
notify Developer in writing of such default and the Developer will have 15 calendar days from
the date of the written notice to resubmit any such Reimbursement Request to cure the default.. if
the Developer falls to cure the default within such tine, Developer shall forfeit any payments
otherwise due under such Reimbursement Request. if such failure to, resubmit such
Reimbursement Request continues for an additional 15 days a total of 30 days) the City, shall
have the right to terminate this Contract effective immediately upon written notice of such intent
with no penalty or liability to City. Notwithstanding anything to the contrary herein, City will
not be required to play any HOME Funds to Developer during the period that any such
Reimbursement t Request is not in compliance with this Contract or the HOME Regulations.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle ,ltd. Page
11.2.3 In the event of more than 2 instances of default, cured or uncured, under
Sections 11.2.1 or 11.2.2. City reserves, the right at its sole option to terminate this Contract
effective immediately upon written notice of such intent with no penalty or liability to City.
11.2.4 Notwithstanding anything to the contrary herein, City will not be required to
pay any HOME Funds to Developer during the period that any Reimbursement Requests, reports
or documentation are past due or are not in compliance with this Contract or the HOME
Regulations, or during any period during which Developer is in default of'this Contract.
11.2.5 In the event of termination under this Section 11.2, all HOME Funds awarded
but unpaid to Developer pursuant to this Contract shall be immediately forfeited and Developer
shall have no further right to such funds. Any HOME Funds already paid to Developer must be
repaid to City within 30, days of termination under this Section. Failure to repay such HOME
Funds will result in City exercising all legal remedies available to, City under this Contract and
the Loan Documents. For clarification, the defaults and related remedies set out in this Section
11.2 are not intended to arise from mathematical errors, or other minor defects in a
Reimbursement Request.
11.31 Failure to Subnuk Required Re orts and Documentation burin
Affordabilit Pe i flod.
-v
If Developer fails, to maintain all records and documentation as required in Section 91, or
fails to submit any report or documentation required by this Contract after the Required
Improvements are completed, or if the submitted report or documentation is not in compliance
with this Contract or the HOME Regulations as determined by City, City will notify Developer
in writing and the Developer will have 30 calendar days ftorn the date of the written notice to
obtain or recreate the missing records or documentation, or submit or resubmit any such report or
documentation to City. If Developer fails to maintain the required reports or documentation, or
submit or resubmit any such report or documentation within such time, City shall have the right
to terminate this Contract effective immediately upon written notice of such intent with no
penalty or liability to City. In 'the event of termination under this Section 11.3, any HOME
Funds paid to Developer must be repaid to City within 310 days of termination. Failure to repay
such HOME Funds will result in City exercising all legal remedies available to City under this
Contract and the Loan Documents,.
11.4 In General.
11.4.1 Subject to Sections, 11.1, 11.2 and 11.31, and unless, specifically provided
otherwise in this Contract, Developer shall be in default if Developer breaches any term or
condition of this Contract. In the event that such a breach remains uncured after 30 calendar
days following written notice by City (or such other notice period as may be specified herein), or
if Developer has diligently and continuously attempted to cure following receipt of such written
notice but reasonably required more than O calendar days to cure, as determined by both Parties
mutually and in good faith, City shall have the right to elect, in City's, sole discretion, to (i)
extend Developer's time to cure, (ii) terminate this Contract effective immediately upon written
notice of such intent to Developer, or(iii)pursue any other legal remedies available to City.
HOME DEVELOPER RENTAL CONTRACT Rev 101-25-13
Decatur-Angle Ltd. Page 21
11.4.2 In the event of termination under this Section 11.4, all HOME Funds awarded
but unpaid to Developer pursuant to this Contract shall be inunediately rescinded and Developer
shall have no further right to such funds and any HOME Funds, already paid to Developer must
be repaid to City within 301 days of termination. Failure to repay such HOME Funds will result
in City exercising all legal remedies available to City under this Contract or the Loan
Documents.,
11.5 No Funds Disbursed while in Breach.
Developer understands and agrees that no HOME Funds will be paid to Developer until
all defaults are cured to the satisfaction of City.
11.6 No Compensation After Date of Ternunation.
In the event of termination, Developer shall not receive any H01ME Funds in
compensation for work undertaken after the date of termination.
11.7 R12hts of City Not Affected.
Termination shall not affect or terminate any of the existing rights of City against
Developer, or which may thereafter accrue because of such default, and this provision shall be in
addition to any and all other rights and remedies available! to City under the law and Loan
Documents including, but not limited to, compelling, Developer to complete the Required
Improvements in accordance with the terms of the Contract. Such termination does not
terminate any applicable provisions of this Contract that have been expressly noted as surviving
the term or termination of this Contract.
Waiver of Breach Not Waiver of Subsequent Breach.
The waiver of a breach of any term, covenant, or condition of this Contract shall not
operate as a waiver of any subsequent breach of the same or any other term, covenant or
condition hereof.
11.9 Civil, Criminal and AdIm*ni'strative Penalties-,
Failure, to perform all the Contract terms may result in civil, criminal or administrative
penalties, including, but not limited to those set out in this Contract.
11.10 Termination for Cause.
11.10.1 City may terminate this Contract in the event of Developer's default, inability,
or failure to perforn-i subject to notice, grace and cure periods,. In the event City terminates this
Contract for cause, all HOME Funds awarded but unpaid to Developer pursuant to this Contract
shall be immediately rescinded and Developer shall have no further right to such funds and any
HOME Funds already paid to Developer must be repaid to City within 30 days, of termination.
Failure to repay such HOME Funds will result in City exercising all legal remedies available to
City under this Contract or the Loan Documents. DEVELOPER ACKNOWLEDGES AND
AGREES THAT IF CITY TERMINATES THIS CONTRACT FOR CAUSE,
DEVELOPER OR ANY AFFILIATES OF DEVELOPER SHALL NOT BE
CONSIDERED FOR ANY 01THER CITY CONTRACT FOR HOME FUNDS FOR A
MINIMUM OF 5 YEARS FROM THE DATE OF'TERMINATION.
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-131
Decatur-Angle Ltd. Page 22
11-10.2 Developer may terminate this Contract if City does not provide the HOME
Funds substantially in accordance, with this Contract. In such event, the termination of the
Contract shall have the effect of returning the Parties to their respective circumstances as existed
prior to the execution of this Contract, and no terms or obligations shall survive the date of
termination Including, but not limited to, reporting, inspections or the Affordability Period.,
11-11 Ter 'nation for Convenience.
In terminating in, accordance with 24 C.F.R. 85. 4,, this Contract may be terminated in
whole or in part only as follows-,
11.11-1 By City with the consent of Developer in which case the Parties shall agree
upon the termination conditions, 'Including the effective date and in the case, of partial
tertnination, the portion to be terminated, or
11.11.2 By Developer upon written notification to City setting forth the reasons for
such termination, the effective date, and in the case of partial termination, the portion to be
terminated. In the case of a partial termination, if City determines that the remaining portion of
the Contract to be performed or HOME Funds to be spent will not accomplish the purposes for
which the Contract was made, City may terminate the Contract in its entirety.
1 1.11.13 In the event of termination of the entire Contract under this Section 11.11. the
termination shall have the effect of returning the Parties to their respective circumstances as
existed prior to the execution of this Contract, and no terms or obligations shall survive the date
of termination, including, but not limited to, reporting, inspections or the Affordability Period.
11.12 Dissolution of Developer Term-19 inates Contract,
In the event Developer is dissolved or ceases, to exist, this Contract shall terminate. In the
event of termination under this Section, all HOME Funds are subject to repayment and/or City
may exercise all of its remedies under this Contract and the Loan Documents.
,a
'11.13 Notice of Ternn"nation under Subordination Ay
11 - reement.
City shall not terminate this Contract without first giving notice and opportunity to cure
to the Senior Lender as required in the Subordination Agreement.,
12, REPAYMENT OF HOME FUNDS.
All HOME Funds are subject to repayment in the event the prqJect does not meet the
requirements as set out in this Contract or in the HOME Regulations. If Developer takes, any
10
action that results In City being requiredto repay all or any portion of the HOME Funds to
HUD, Developer agrees, It will reimburse City for such repayment. If Developer takes, any
action that results in City receiving a rtnd" i
m ! from HUD about the project, whether or not
§1 <77
repayment to HUD is require(,i of City, Developer agrees It will pay City 10% of the HOME
Funds, as liquiW ate d damages. The Parties agree that City's damages in the event of either
repayment to, HUD being required or receiving a finding from HUD are uncertain and would be
difficult to ascertain and may include an impact on City's HOME grant or other Federal grant
HOME DEVELOPER RENTAL CONTRACT' Rev 10-25-13
Decatur-Angle Ltd. Page 23
funds, in addition to a finding by HUD or a repayment of funds to HUD by City. Therefore, the
Parties agree that payment under this Section of 10% of the Loan amount by Developer to City
4
is liquidated damages and not a penalty.
130 MATERIAL OWNERSHIP CHANGE.
Subject to the t of'the Deed of Trust and limited partnership transfers in accordance
with Developer's AAgreement of Limited Partnership, as may be amended and restated from
time to time, or otherwise with City consent, if ownership of Developer materially changes, after
the date of this Contract, City may, but is not obligated to, terminate this Contract. City has 30
days to make such determination after receipt of notice from Developer and failure to make such
deten-nination in -that time period will constitute a waiver., 1n the event of termination under this
Section 13, all HOME Funds awarded but not yet paid to Developer pursuant to this Contract
shall be immediately rescinded and Developer shall have no further right to such funds. Any
HOME Funds already paid to Developer must be repaid to City within 30 days of termination
under this Section.
14. GENERAL PROVISIONS
14.1 Developer, an Independent Contractor.
Developer shall operate hereunder as an independent contractor and not as an ofd`cer,
agent, servant or employee of City. Developer shall have exclusive control of, and the exclusive
right to control, the details of the work and services, performed hereunder, and all persons
I Is
performing same, and I t snall be solely responsible for the acts and omissions of its ts officers,
members, agents, servants, employees, contractors, subcontractors,, vendors, tenants, licensees or
invitees.
t 4.2 Doctrine of Ides ponaeat Superior.
The doctrine of respondent superior shall not apply as, between City and Developer, its
officers, members, agents,, servants, employees, contractors, subcontractors,, vendors, tenants,
licensees or invitees, and nothing herein shall be construed as creating a partnership or joint
enterprise between City and Developer. City does not have the legal right to control the details
of' the tasks performed hereunder by Developer, its officers, members, agents, employees,
contractors, subcontractors, vendors, licensees or invitees,.
14.3 Developer Property.
City shall under no circumstances, be responsible for any property belonging to
Developer, its officers, members, agents, employees,, contractors, subcontractors, vendors,
tenants, licensees or Invitees that may be lost, stolen or destroyed or in any way damaged and
DEVELOPER HEREBY INDEMNIFIES AND HOLDS HARMLESS CITY AND ITS
OFFICERS,, AGENTS, AND EMPLOYEES FROM ANY AND ALL CLAIMS OR SUITS
PERTAINING TO OR CONNECTED WITH SUCH PROPERTY.
HOME DEVELOPER RENTAL CONTR.ACT Rev 10-25-13
Decatur le Ltd. Page 24
14.4 Religious 0!:ganization,
No portion of the HOME Funds, shall be used in support of any sectarian or religious
activity. In addition, there must be no religious or membership criteria for tenants, of a HOME
funded property.
14.5 Venue.
Venue for any action, whether real or asserted, at law or in equity, arising out �' the
execution, performance, attempted performance or non-performance of this Contract, shall lie in
Tarrant County, Texas,.
14.6 Governing Law.
This Contract shall be governed by and construed in accordance with the laws of the
State of Texas. If any action, whether real or asserted, at law or in equity, arises out of' the
execution, p�erformance or non-performance of this Contract or on the basis of any provision
herein, for any issue not governed by Federal, law, the choice of law shall be the laws of the State
of Texas.
0,10
14.7 Severabill
The provisions of this Contract are severable, and if for any reason a clause, sentence,
paragraph or other part of'this Contract shall, be determined to be invalid by a court or Federal or
state agency, board or commission having Jurisdiction over the subject matter thereof, such
invalidity shall not affect other provisions which can be given effect without the invalid
provision.
14.'8 Written Agreement Entire Agreement.
This written instrument and the Exhibits, Addendums and Attachments attached hereto,
which are incorporated by reference and made a part of this Contract for all purposes constitute
I I
the entire agreement by the Parties concerning the work and services, to be performed under this
Contract. Any prior or contemporaneous oral or written agreement which purports to vary the
terms of this Contract shall be void. Any amendments to the terms of this Contract must be in
writing and be executed by the Parties,.
14.9 Paragraph Head!*Rgs for Reference Only, No Legal Sm' nificance- Number.
The paragraph headings contained herein are for convenience in reference to this
Contract and are not intended to define or to limit the scope of any provision of-this Contract.
When context,requires, singular nouns and pronouns include the plural and the masculine gender
shall be deemed to include the feminine or neuter and the neuter gender to include the masculine
and feminine. The words 44include" and "including" whenever used, herein shall be deemed to be
followed by the words "without limitation"..
10
14.10 Compliance With All Appi ica bile Laws and Regulations,
Developer agrees, to comply fully with all applicable laws and regulations that are
currently in effect or that are hereafter amended during the performance of this Contract. These
laws include, but are not limited to
HOME Investment Partnerships Act as set out above
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
D�ecatur- wngle Ltd. Page 25
Title VI of the Civil Rights Act of 1964 (42 U.S.C. Sections 20OO�d et seq.) including
provisions requiring recipients of federal, assistance to ensure meaningful access by
person of limited English proficiency.
The Fair Housing Act, Title V111 of'the Civil Rights Act of 1968 (42 U.S.C. Sections
3601 et seq.)
Executive Orders 11063, 11246 as amended by 11375 and 12086 and as
supplemented by Department of Labor regulations 41 CFR, Part 610
The Age Discrimination in Employment of 1967
The Age Discrimination Act of 1 975 (42 U.S.C. Sections 61 1 et seq.)
A
The Uniform Relocation Assistance and Real Property Acq'uisition Policies Act Of
1970 (42 U.S.,C. Sections 4601 et seq. and 49 CFR Part 24) ("URA11)
Section 504 of'the Rehabilitation, Act', of 1973 (2 U.S.C. Sections 794 et seq.) and 24
CFR Part 8 where, applicable
National Environmental Policy Act of 1 9, as amended, 4,2 U.S.C. sections 4321 et
seq. ("NEPA") and the related authorities listed in 24 CFR Part 58.
The Clean Air Act., as amended, (42 U.S.C. Sections 1251 et seq.) and the Clean
Water Act of 1977, as amended (33 U.S.C. Sections 1251 et seq.), related Executive
Order 11738 and Environmental Protection Agency Regulations at 40 CF'R Part 15.
In no event shall any amount of the assistance provided under this Contract be
utilized with respect to a facility, that has given rise to a conviction under the Clean
Air Act or the Clean Water Act.
Immigration Reform and Control Act of 1986 (8 U.S.C. Sections 1101 et seq.)
specifically including the provisions requinng employer verifications of legal status
of its employees
The Americans with Disabilities Act of 19901 (42 U.S.C. Sections 12101 et seq.), the
Architectural Barriers Act of' 1968 as amended (42 U.S.C. sections, 4151 et seq.) and
the Uniform, Federal Accessibility Standards, 24 CFR Part 40, Appendix A
Regulations, at 24 CFR Part 87' related to lobbying, including the requirement that
certifications and disclosures be obtained fro m all covered persons
Drug Free Workplace Act of 1988 (41 U.S.C. Sections 701. et seq.) and 24 CFR Part
23, Subpart F
Executive Order 12549, and 24 CFR Part 5.105(c) pertaining to restrictions on
participation by ineligible, debarred or suspended persons or entities,
Regulations at 24 CFR Part 882.708(c) pertaining to site and neighborhood standards
for new construction projects
Regulations at 24 CFR Part 983.6; for Site and Neigl-lborhood Standards Review
Section 6002 of the Solid Waste Disposal Act, as amended by the Resource
Conservation and Recovery Act
� Guidelines of the Environmental Protection Agency at 40 CFR Part 247
For contracts and snub ants for construction or repair, Copeland "Anti-Ki ckbiack" Act
(18 U.S.C. 874) as supplemented in 29 CFR Part 5
For construction contracts, in excess of $,2,000, and in excess of $2,500, for other
contracts which involve the employment of mechanics or laborers, Sections 103 and
107' of the Contract Work Hours and Safety Standards Act (40 U.S.C. 327'A 300) as
supplemented by 29 CF'R Part 5
HOME DEVELOPER RENTAL CONTRACT Rev 101-25-13
Diecatur-A,ngle Ltd. Page 2,6
Lead B se "aint Poisoning Prevention Act (4,2 U.S.C. 4801 et se q. as amended by
the Residential Lead-Based Paint Hazard Reduction Act of 1,992 (42 U.S.C. 4851 et
seq.) and implementing reg,ula,tions at 24 CFR Part 35, subparts A, B, M,, and R
Regulations at 24 CFR, Part 92, Home Investment Partnerships Program, Final Rule
14.11 HUD-Assisted Projects and Emplovtnent and other Econonuc
0
Opporte nities,# Section 3 Reguire ments,
1,4.11 1 Reguireme�nt that Law Be Quotea in Covered Contracts, — Certam'
gegluirlement's Pertaining to Section 3 of the HousLU and Urban
'701 e SfL.
Development Act of 1968 as end Secttons 11 t
and its Related Rglulations at 24 CFR Part 135
If the cotistruchon of the Required lmproes ts will cause the creation of new,
employment, training, or contracting opportunities on a contractor or sub contractor level
resulting from the expenditure of the HOME Funds, Developer shall comply with the following
and will ensure that its contractors also co m l,y., 'If the work performed under this Contract is on
p
a project aseise d under, a program providing, direct Fleer al financial assistance from HUD,
Section 3 of 24 CFR 135.38 ("'Section 3" equires that the following clause, shown in italics, be
inserted in all covered contracts ("Section 3 Clause").-
Sec to be quoted in covered contracts begins,
"'A. The work to be per/birmed under this contract is subject to, the
J* 1968, as
requirements qf Section 3 of 1-16using and Urban Development Act o
amended, 12 U S.C. section 1701 u (Section ). The purpose of Section 3 is to
ensure that eMployment and other economic opportunities generated by HUD
assisted or HUD-assisted projects covere y ection 3,, shall to the greatest
extent ftasible, be directed to low- and verv-low income ?ersons, particularly
1pil
ears are rec* 'ents tV'HUD;ass tance.foir housing.,
B. The parties to this contract agree to co with HUD Y si regulations in 2'4
CF R Part 135,, which implement Section 3. As evidenced �y their execution of
this contract, the pat-ties, to this, contract cer*1 that the�v are no contractual
or other impediment that would prevent theniftom complying with the Part 13'5
regulations.
C. The contractor agrees to: send to each labor organization or
representative o workers lith, -vt�hich it has ac l c ve bargaining agreement or
.f
other n d I erstanding, if any, a notice advising the labor organization or workers'
representatives (�fthe contractor's commitments under this Section 3 clause and
W
V -11 post copies ofthe notice in, conspicillous
V'�l places at the ivork ere, both
employees and applicants 16r training and emplQyment positions can see the
n�otice. The notice shall dc-,)scribe the Section 3 prqp-rence, shall set forth
minimum ntimber and job titles subject to hire, availability of apprentice and
training positions, the, qualificationsfior eack and the name and location qf the,
person(s): taking applications Jbr each qf the posl'tions; and the anticiplateddate
the work shall begin.
HOME DEVELOPER RENTAL CONTRAcr Rev 10-25-13
Diecatur-Angle Ltd. Rage 2,7
D. The contractor agrees that it will include this Section 3 clause in eveq
subcontract to comply with regulation in 24 CFR Part 135, and agrees to take
. IF I . F* I
appropriate action, a's proviaea in an app il cavle, provision of the subcontract or
in this Section 3 clause, upon Ending that the subcontractor is in violation qf'the
regulations, in 2'4 CFR,' Part 135. The contractor will not subcontract with are
subcontractor where it has notice or knowledge that the subcontractor has been
.found in violation of regulations in 24 CFR 135.
E. The contractor will certify that an y vacant employment positions,
including training positions that are filed.,, (1) after the contractor is selected but
before; the c ntract is executed, and (2) with persons other than those, to who the
regulations of 24 CFR Part 135. The contractor will not subcontract with alq
subcontractor where it has notice or knowledge that the subcontractor has been
fiound in violation qf regulations in 24 CFR 135.
F. Noncompliance with HUD's reguiation in 24 CFR Part 135 may result in
sanctions, termination of this contractfor def�ult, and debarment or suspension
ft om future HUD assisted contracts.
G. With respect to work pe�formed in connection, with Section 3 covered
Indian housing assistancet section 7(b) ofthe Indian Sel f-Determination and
Education Assistance,Act (25 U.S.C. section 450e) also applies to the work to be
performed tinder this Contract. Section 7(b) requires that to the greatest extent
fieasi le (�) prqference and opportunities fior training and employment shall be
given to Indians, and (ii) preference in the award of contracts and subcontracts
shall be given to Indian organizations and Indian-owned Economic Enterprises.
Parties to this contract that are subject to the fro visions of Section 3 and Section
79b) agree to comply, with Section 3 to the maximum extent fusible, but not in
derogation of compliance with Section 7(b). JVY
Section to be quoted covered contracts ends.
14.11. evtLo a's *Iffies for Secdon. 3 Reguirements.
.per Responsim 1 1,
City and Developer understand and agree that compliance, with the provisions of Section
3 the regulations set forth in 24 CFR Part 135, and all applicable -rules and orders of HUD shall
be a condition of the Federal financial assistance prodded to the project binding upon City and
Developer, and -their respective successors, assigns, contractors and subcontractors,. Failure to
fulfill these requirements shall subject Developer and its contractors and subcontractors and their
respective successors and assigns to 'those sanctions specified by the grant agreement through
which Federal assistance is provided and to such sanctions, as are specified by 24 CFR Part, 135.
Developer's responsibilities include-,
14.11.2.1 Implementing procedures to notify Section 3 residents and
business concerns about training, employment, and
contracting opportunities generated by Section 3 covered
assistance,
14.11.2.2 Notifying potential contractors working on Section 3 covered
projects of their responsibilities';
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur_ le Ltd. Page 28
14.1 .2.3 Facilitating the training and employment of Section 3
residents and the award of contracts, to Section 3 business
concerns;
14.11.2.4 Assisting and actively cooperating with the HED Department
in making contractors and subcontractors comply;
14.11.2.5 Refraining from entering into contracts with contractors that
are in violation of Section 3 regulations,
14.1 .2.6 Documenting actions, taken to comply with Section 3; and
14.11,.2.7 Submitting Section 3 Annual Summary Reports (form HUD-
60002) in accordance with 24 CFR Part 135.90.
14.11.3 Section 3 Reporting Re(juiremenu,
In order to comply with the Section 3 requirements,, Developer must submit the fom-is
0
attached hereto as Exhibit"I" - Section 3 Reporting Forms.
14.11.3.1 Report to the City all applicants for emplo �ent, and all
applicants for employment by contractors and any
subcontractors on a quarterly basis. This shall include name,
address, zip code, date of application, and status (hired/not-
hired) as of the date of the report.
14.11.3..2 Advertise available positions to the public for open
competition and provide documentation to City with the
quarterly report that demonstrates such open advertisement,
in t he 'form of printout of Texas Workforce Commission
posting, copy of newspaper advertisement, copy of flyers and
listing of locations where flyers were distributed, and the
like.
'14.11.3.31 Report to the City all contracts awarded by contractors and
any subcontractors on a quarterly basis. This shall include:
name of contractor and/'or subcontractor, address, zip code,
and amount of award as of the date of the report.
is
14.12 Prohibiti ti on Discrimination.
14.,12.1 General Statement.
Developer, in the exe�cution, performance, or attempted performance of this Contract,
shall comply with all nor-discri,mination requirements of 24 CFR 92.350 and the ordinances
codified at Chapter 17,1 Article 111, Division 4 —Fair Housing of the City Code. Developer may,
not discriminate against any person because of race, color�, sex, gender, religion, national origin,
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
^rX
Decatur-Angle Ltd. Page 2.9
familial status, disability or perceived disability, sexual orientation, gender identity, ender
expression, or transgen.der, nor will Developer permit its officers, members, agents, employees,
contractors, venders or project participants to engage in sucn discn inati n,
This Contract is made and entered into with reference specifically to the ordinances
codified at Chapter 17, Article 11 1, Division 3 Employment Practices of the City Code, and
Developer hereby covenants and agrees that Developer, its officers, members, agents, employees
and contractors, have Willy compiled filed with all provisions of same and that no employee, or
applicant for employment has been discriminated against under the terms of such ordinances by
either or its officers, members, agents,,, employees, contractors or vendors.
l .l2.2 No Discrinunation in Employment Burin the P'er ormance this
Contract.
Dung the perfo ante of this Contract Developer agrees to the following provision, and
will require that its contractors, subcontractors and venders also comply with such provision by
including it in all contracts with its contractors and vendors:
C on r ctor' u con r c o s or Vendors air will, not unlawfully discriminate
against any employee or applicants for employment because of race, color, sex, gender,
religion, national origin, familial status, disability or perceived disability, sexual.
orientation, gender identity, gender expressions or transgender. Contractor~s
S' bcon racto s or Vendor � Name �i l l tale af�f� ative action to ensure that
applicants are hired without regard to race, color, seq., gender, religion, national origin,
familial status, disability or perceived disability, sexual orientation, gender identity,
gender expression or transgender and that employees are treated fairly during
employment without regard to their race, color, sex, gender, religion, national origin,
familial status, disability or perceived disability, sexual orientation, gender identity,
gender expression or trans, ender. Such action shall include, but not be limited to, the
following.- employment, up a i g, demotion or transfer, recruitment or recruitment
advertising, layoff' or termination, rates of pay or other forms of compensation, ana
selection for training, including apprenticeship. Contractors Subcontractors or
Vendor s Names agrees to post in conspicuous places, available to employees and
applicants for employment, notices setting forth the provisions of this nondi scn'mi nation
clause.
' ntra,ctor!S S u con rac or S or Vendor)s.dam- will, in all solicitations
or advertisements for employees placed by or on behalf of [Contractor's,
Subcontractor'1s or Vendors Name , state that all qualified applicants will
receive consideration for employment without regard to race, color, sex, gender, religion,
national origin, familial status, disability or perceived disability, sexual orientation,
gender identity, gender expression or transgender.
Contractor's, S con ractor or Vendor's Nam covenants that neither
it nor any of its officers, members, agents, employees, or contractors, while engaged in
perforining this Contract, shall, in connection with the employment, advancement or
discharge of employees or in connection ection with the to -.s, conditions or privileges of-their
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle ltd. Page 3
employment, discriminate against persons because of their age or because of an
. w
disability or perceived disability, except on the basis of a bona fide occupational
qualification, retirement plan or statutory requirement.
entw
�Ontrac o s Subcontractor's or Vendor's Name further covenants that
neither it nor its officers, members, agents, employees, contractors, or persons acting on
their behalf, shall specify, in solicitations or advertisements for employees to, work on
this Contract, a maximum age limit for such employment unless the specified maximum
age limit is w
�.�� upon � bona �� occupational qualification, retirement.ent plan or statutory
requirement.
14.12.3 Deven is Contractors and ADA.
In accordance with the provisions of the Americans, With Disabilities Act of 1990
A"), Developer warrants that it will not unlawfully discriminate on the basis of disability in
the provision of services to the general public, nor in the availability, terms ,and/or conditions of
employment for applicants for employment with, or employees of Developer. DEVELOPER
WARRANTS IT WILL FULLY COMPLY WITH ADDS PROVISIONS AND ANY
OTHER APPLICABLE FEDERAL, STATE AND LOCAL LAWS CONCERNING
DISABILITY AND WILL DEFEND, INDEMNIFY AND HOLD CITY . A ML S
AGAINST" ANY CLAIMS, OR ALLEGATIONS ASSERTED THIRD ARTIE
CONTRACTORS,, SUBCONTRACTORS OR VENDORS AGAINST CITY .ARISING
OUT OF DEVELOPER'S ANDJOR ITS CONTRACTORS', SUBC T CTO S
VENDORS AGENTS' OR EMPLOYEES ALLEGED FAILURE T , COMPLY IT
THE ABOVE-REFERENCED LAWS CONCERNING DISABILITY DISCRIMINATION
IN THE PERFORMANCE THIS CONTRACT.
.13. Prohibition Against ai 0 st Interest/ Conflict o Interest.
1 . 3 1 Developer shall establish safeguards to prohibit its employees, board
members, advisors and agents from using positions for a purpose that is or gives the appearance,
of being motivated by a desire for private gain for themselves or others, particularly those with
whom they have family, business or other ties. Developer shall disclose to City any conflict of
interest or potential conflict of interest described above, immediately upon discovery of such.
14.i 3.2 No persons who are employees,, agents, consultants, officers or elected
officials or appointed officials of City or of Developer who exercise or have exercised any
^w w
actions or responsibilities with respect to activities assisted with HOME funds or who are in a
position to participate in a decision-making, process or gain inside info atior with regard to
these activities may occupy a HOME Unit, may obtain a financial interest or benefit from a
HOME assisted. activity, or have are interest In any contract, subcontract or agreement with
respect 'thereto, or the proceeds thereunder, either, for themselves or those with whom they have
family or business ties, during their tenure or for I year thereafter, unless they are accepted in
accordance with the procedures set forth at 24 C.F. .. Part 92.356..
14.13.3 Developer affirms that it will adhere to, the provisions of the Texas penal
Code which rohibits bribery and gifts to public servants.
HOME DEVELOPER RENTAL CONTRACT' Rev 10-25-13
Decatur-Angle ltd. Page 31
14.13.4 If applicable, the conflict of interest provisions of 2,4 CFR Part 85.36 and 24
CFR Part 84.42, respectively, shall apply in the procurement of property and services by
Developer. In all cases not governed by those sections, the provisions of 24 CFR Part 912.356 of
the HOME Regulate ons shall apply.
14.14 Labor Standards.
14.14.1 As applicable, Developer agrees to comply with the requirements of the
Secretary of Labor in accordance with the Davis-Bacon Act (40 U.S.C. 276a-7) as amended, the
provisions, of Contract Work Hours and Safety Standards Act (40, U.S.C. 327 et seq.) and all
other applicable Federal, state and local laws and regulations pertaining to labor standards
insofar as those acts apply to the performance of this Contract. Developer agrees to comply with
the Copeland Anti-Kick Back Act (18 U.S.C. 874 et seq.) and its, implementing regulations of the
United States Department of Labor at 29 CFR Part 5. Developer shall maintain documentation
that demonstrates compliance with hour and wage requirements of this Contract and HOME
Regulations. Such documentation shall be made available promptly to City for review upon
request.
14.14.2 Developer agrees that, except with respect to the rehabilitation or construction
of residential property containing less than 12 units, assisted with HOME funds, all contractors
engaged under contract for construction, renovation or repair work financed in whole or in part
with assistance provided under this Contract, shall comply with Federal requirements adopted by
City pertaining to such contracts and with the applicable requirements, of the regulations of the,
Department of Labor under 29 CFR Parts 1, 3, 5 and 7 governing the payment of wages and ratio
of apprentices and trainees to journey workers-, provided that, if wage rates, higher than those
required under these regulations are imposed by state or local law, nothing hereunder is intended
to relieve Developer of its obligation, if any, to require payment of the higher wage. Developer
shall cause or require to be inserted in full, in all such contracts subject to such regulations,,
provisions meeting the rcquirements of this paragraph.
14.14.3 If Davis-Bacon is applicable, Developer shall provide City access to employee
payrolls, contractor and subcontractor payrolls, and other wage information for persons
performing construction of the Req wire d Improvements,. Payrolls must be submitted to the HED
Department with each Reimbursement Request, and must be available to HED Department staff
upon request., In addition, Developer shall ensure that City will have access to employees,
contractors and subcontractors and their respective employees in order to conduct onsite
interviews with laborers and mechanics, Developer shall inform its contractors and
subcontractors that City staff or Federal agencies may conduct periodic employee wage
interview visits during construction of the prqJect to ensure compliance.
14.15 Subcontract,l'ng with Small and Minoriky F rrn Women's, Business
Enterprises and Labor Sur lus Areas.
14.15.1 For procurement contracts $50,01010.,001 or larger, Developer agrees to abide by
I .
Cityls policy to involve Minority Business, Enterprises and Small Business Enterprises and to
ROME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 32
provide them equal opportunity to compete for contracts for construction, provision of
professional services, purchase of equipment and supplies and provision of other services
required by City. Developer agrees to 'incorporate the City's BDE Ordinance, and all
amendments, or successor policies or ordinances thereto,, into all contracts and subcontracts for
procure me .t $50,000.00 or larger, and will further require all persons or entities with which it so
contracts to comply with said ordinance.
14.15.2 It is national policy to award a fair share of contracts to disadvantaged
business enterprises ("DBEs"), small business enterprises, (''S,B,Es,")I, minority business
enterprises ("MBEs"), and women's business enterprises ("WBEs"'). Accordingly, affirmative
steps must be taken to assure that DBEs, SBEs, MBEs, and WBEs are utilized when possible as
sources of supplies, equipment, construction and services.
14.16 Olther, Laws.
The failure to list any federal, state or City ordinance, law or regulation that is applicable
to Developer does not excuse or relieve Developer from the requirements or responsibilities in
regard to following the law, nor from the consequences or penalties for Developer's failure to
follow the law, if applicable.
14.17 Assignment.
Developer shall not assign all or any part of its rights, privileges, or duties
under this Contract without the prior written approval of City. Any attempted assignment of
same without approval shall be void, and shall constitute a breach of this Contract.
1
14.18. Ripht to Ins, Developer Contracts,
It is agreed that City has the right to, inspect and approve in writing any proposed
contracts between Developer, its general contractor and subcontractors, including any lower tier
subcontractors engaged in any activity that is funded as part of the construction of the Required
Improvements, and any vendor contracts arising out of the operation of'the project, prior to any
charges,being incurred.
14.19 Force Maj,cure
If'Develolpler becomes unable, either in whole or part,, to fulfill its obligations under this
Contract due to acts of Gold, strikes, lockouts, or other industrial disturbances, acts of public
enemies, wars, blockades, insurrections, riots, epidemics, earthquakes, fires, floods,, restraints or
prohibitions by any court, board, department, commission or agency of the 'United States or of
any States, civil disturbances, or explosions, or some other reason beyond Developer's control
(collectively, "Force Majeure Event"), the obligations so affected by such Force Ma 0 cure Event
will be suspended only during the continuance of such event and the completion date for such
obligations shall be extended for a like period. Developer will give City written notice of the
existence, extent and nature of the Force Majeure Event as soon as reasonably possible after the
occurrence of the event. Failure to give notice will result in the continuance of the Developer"s
obligation regardless of the extent o f' any existing, Force Majeure Event. Developer will use
commercially reasonable efforts to remedy its inability to perform as soon as possible.
HOlME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 331
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INDEMNITY BY DEVELOPER TO INDEMNIFY AND PROTECT CITY FROM THE
CONSEQUENCES OF CITY S OWN NEGLIGENCE, WHETHER THAT
NEGLIGENCE IS ALLEGES TO BE THE BODE OR CONCURRING CAUSE, OF THE
INJURY, DAMAGE OR DEATH,
DEVELOPER AGREES TO AND, SHALL RELEASE CITY, ITS, AGENTS,
EMPLOYEES, OFFICERS AND LEGAL REPRESENTATIVES FROM ALL
LIABILITY FOR INJURY, DEATH, DAMAGE OR ,LOSS TO PERSONS OR
PROPERTY Y SUSTAI ED IN CONNECTION WITH OR INCIDENTAL T
PERFORMANCE UNDER THIS CONTRACT, EVEN IF' THE INJURY,, DEATH,
DAMAGE OIL LOSS IS CAUSED BY CI"TYS BODE OR CONCURRENT
NEGLIGENCE.
DEVELOPER SHALL REQUIRE ALL OF ITS CONTRACTORS ANA
SUBCONTRACTORS TO INCLUDE IN THEIR CONTRACTS AND, SUBCONTRACTS
A. RELEASE AND INDEMNITY i FAVOR OF CITY I ST TIALLY THE
SAME, FORM AS ABOVE.
16, WAIVED OF IMMUNITY BY DEVELOPER.
.lf"Developer, is a charitable or nonprofit organization and has or claims an immunity unity r
exemption (statutory or otherwise) from and against liability for damages or injury, including
death, to persons or property, Developer hereby expressly waives its rights to plead defensively
such immunity or exemption as against City. This section shall not he construed to, affect ,a
governmental entity's immunities under constitutional, statutory or commo n law.
1719, INSURANCE AND BONDING,.
Developer will maintain coverage in 'the forrn of insurance or hoed in the amount of
$1, to insure against lass from the fraud, theft or dishonesty of any of Developer's
officers, agents, trustees, directors or employees. The proceeds ofd such insurance or bond shall
he used to reimburse City for any and all loss of HOME Funds occasioned by such misconduct.
To effectuate such reimbursement,t, such fidelity co erage shall include a 'rider stating that
reimbursement for any loss or losses shall name the City as ,a Loss Payee.
Developer shall furnish to City, In a timely manner, but not later than 60 days after the
Effective Date, certificates of insurance as proof that It has secured and aid for policies of
commercial insurance as specified herein. if City has not received such certificates as sot forth
herein, Developer shall he in default f the Contract and City may at its option., t nninate the
Contract.
Such insurance shall cover all insurable risks incident to or in connection with the
execution, performance, attempted performance or nonperformance of this Contract. Developer
shall maintain, or require its general contractor to maintain', the following coverages and limits
thereof.-
:'SOME DEVELOPER NT CONTRAcr Rev 10-25-13
Decatur-Angle Ltd. Page 35
t-J"
oommer,cial General Liability(CGS) Insurance
1 000,000 each occurrence
$2,000,000 aggregate limit
Business Automobile Liability Insurance
S 1,000,000 each accident on a combined single-limit basis, or
250,000 Property Damage
500,000 Bodily fnjury per person per occurrence
$,2,000,000 Aggregate
Insurance policy shall be endorsed to cover"Any Auto" defined as autos owned, hired and
non-owned. Pending availability of the above coverage and at the discretion of City, the policy
shall be the primary responding insurance policy versus a personal auto insurance policy if or
when in the course of Deve,loper's business as contracted herein,.
Workers' Compensation Insurance
Part A: Statutory Limits
Part B.- Empiloyer's Liability
$1,00,000 each accident
$100,000 disease-each employee
$500,,000 disease-policy limit
Note,: Such insurance shall cover employees, performing work on any and all projects
including but not limited to construc,tio�n, demolition, and rehabilitation. Developer or its
contractors shall maintain coverages, if applicable. In the event the respective contractors
do not maintain coverage, Developer shall maintain the coverage on such contractor, if
applicable, for each applicable contract.
Additional RNui,rements
Such insurance amounts, shall be revised upward at City's reasonable option and no more
ftequently than once every 12 months, and Developer shall revise such amounts within 30 days
following notice to Developer of such requirements.
Developer will submit to City documentation that it, and its general contractor, have obtained
insurance coverage and have executed bonds as required in this Contract prior to payment of any
monies provided hereunder.
Where applicable, insurance policies required herein shall be endorsed to include, City as an
additional insured as its interest may appear. Additional insured parties shall include employees,
officers, agents, and volunteers of City.
The Workers' Compensation Insurance policy shall be endorsed to include a waiver of
subrogation, also referred to as a waiver of rights of'recovery, in favor of City.
HOME DEVELOPER RENTAL CONTRACrr Rev 10-25-13
Decatur-Angle Ltd. Page 36
Any failure on part of City to request certificate(s) of insurance shall not be construed as a
waiver of such requirement or as a waiver of the insurance requirements themselves.
Insurers of Developer's 'insurance policies shall be licensed to do business in the state of Texas
by the Department of Insurance or be otherwise eligible and authorized to do business in the state
of Texas. Insurers shall be acceptable to City insofar as their financial strength and solvency and
each such company shall have a current minimum A.M. Best Key Rating Guide rating of A: VII
or other equivalent insurance industry standard rating otherwise approved by City.
Deductible limits on insurance policies shall not exceed $5,000 per occurrence unless otherwise
approved by City.
In the event there are any local, federal or other regulatory insurance or bonding requirements for
the project, and such requirements exceed those specified,herein, the forrner shall prevail.
Developer shall require its contractors to maintain applicable insurance coverages, limits, and
other requirements as those specified herein; and, Developer shall require its contractors to
provide Developer with certificate(s) of insurance documenting such coverage. Also, Developer
shall require its contractors to have City and Developer endorsed as additional 'insureds (as their
interest may appear) on their respective insurance policies.
Professional Liability coverage shall be in force and may be provided on a claim's made basis.
This coverage may also be referred to, as Management Liability, and shall protect the insured
against claims arising out of alleged errors in Judgment, breaches of duty and wrongful acts
arising out of their management duties.
Developer shall require its builder to maintain builders risk insurance at the value of the
construction.
CERTIFICATION REGARDING LOBBYING,
The undersigned Developer hereby certifies, to the best of its knowledge and belief, that:
No Federal appropriated funds have been paid or will be paid, by or on behalf of
Developer, to any person for influencing or attempting to 'Influence an officer or
employee of any agency, a member of Congress, an officer or employee of
Congress in connection with the awarding of any Federal contract, the making of
any Federal grant, the making of any Federal loan, the entering into of any
cooperative agreement and the extension, continuation, renewal, arnendment, or
modification of any Federal, contract, grant, loan or cooperative agreement.
if any funds other than federally appropriated funds have been paid or will be paid
to any person for influencing or attempting to influence an officer or employee of
any agency, member of Congress, in connection with this Federal contract,
, grant,
to or cooperative agreement, Developer shall complete and submit Standard
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 37
Form- LL, Disclosure :Fore to Report Lobbying,",' in accordance with its
instructions.
'Fhis certification is a material representation o of fact upon which reliance was
placed when this Contract was made or entered into. Submission of this
certificate is a prerequisite for making or entering into this Contract imposed by
31 U.S.C. Section 1352. Any person who fails to file the required certification
shall be subject to a civil penalty of not less than $1 0,000.00 and not more than
0 , 0� . for each such failure.
Developer shall require that the language of this certification be included 'n all subcontracts
or agreements involving the expenditure oFederal funds.
19. LITIGATION AND CLAIMS,
Developer shall give City" immediate notice in writing of any action, including any
proceeding before an administrative agency, fed against Developer in conjunction with this
Contract or the project. Developer shall furnish immediately to City copies of all pertinent
papers received by Developer with respect to such action or claim. ;developer shall provide ,a
notice to City within. 10 days apsn ling under any bankruptcy or financial insolvency provision
of law.
20, NOTICE:
All notices required or pe fitted by this Contract must be n writing and shall. be effective
upon receipt when (1) seat by U.S. ,ail, with proper postage, certified mail return receipt
requested or by a nationally recognized overnight delivery service; and (iii) addressed to the
ether :party at the address set out below or at such other address as the receiving Party designates
by proper,notice e to the sending Party.
Cit
City Attorney's, Office
1000 Throe Orton Street
Fort Worth, TX 76102
Attention.- Vicki c anske
Telephone: 817-392-7765
Copies to:
Housin.g and Economic Development Department
.000 Throckmorton Street
Fort Worth, TX 761102
Attention:n:Assistar t Director
Telephone: 817'-392-754O
HOME DEVELOPS REWAL CONTRACT Rev 101-25-13
Decatur-Angle Ltd.. Page 3
T 1 1,
riousing and Economic Development Department
1000 Throckmorton Street
Fort Worth, TX 76102
Attention: Jesse Madsen, Development Project Coordinator
Telephone: 817-392-7'540
0
Developer.
Decatur-An,gle Ltd.
c/o Fort Worth Rowing Finance Corporation
1000:Throckmorton
Fort Wort, TX 76102
Telephone: 817-392-7540
Copies to
The NRP Group LC
5309 Transportation
Cleveland, OH 44125
Attention:
Telephone-, 216-475-8900
Coats Rose
3 E Green ay Plaza, Suite 2000
Houston TX 77046
Attention: Barry Palmer
Telephone:
a
Investon
Bank ofAmen'ca, N.A.
Community Development Banking
600 Peachtree NE
Atlanta,, GA 30,3018
Telephone.- 404-607-2441
21. DEVELOPER HAS LEGAL I AUTHORITY TO ENTER INTO CONTRACT,
Developer represents that it possesses the legal authority, pursuant to any proper,
appropriate and official motion, resolution or action passed or taken, to enter into this, Contract
and to perform the responsibilities herein required.
22. INVESTOR'S RIGHT TO CURE.
The Parties agree that the Investor shall have the right, but not the obligation, to cure any
default by or complete any obligation of the Developer under the Loan Documents, during the
cure period or completion period provided therein, and the Parties hereto agree to accept any
such cure or completion tendered by the Investor*
HOME DEVELOPER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 39
23. COUNTERPARTS.
This Contract may be executed in multiple counterparts, each of which shall be
considered an original, but all of whit shall constitute one instrument which may be stiff ci,ently
evidenced by one counterpart.,
[SIGNATURES APPEAR ON NEXT PAGE]
HOME,DEVE PER RENTAL CONTRACT Rev 10-25-13
Decatur-Angle Ltd. Page 40
IN WITNESS WHEREOF I, the Parties have executed 4 duplicate originals of this
Contract to be effective on the last date indicated below the Parties,' signatures.
ATTEST* CITY OF FOR WORTH
By:
................-
V-
City Secretary" 7 Femando, Costa, Assistant City Manager
M&C*,- C-2638" Dated August 20, 2013 Date:
APP QED AS T F RM AND LEGALITY.-
Mrl
Vicki S. Ganske, Senior Assistant City Attorney
DECATUR-ANGLE LTD,
By. Decatur Angle!GP, LLC, its General Partner
S
low
OWN By.- Fort Worth Housing Finance Corporation,
its Sole Member, A
00, 00
000
By#
Jesus J. Chapa, Assistant General Manager
Date: L 3
STATE OF TEXAS §
COUNTY OF TEAT §
This instrument was acknowledged before me on 2�O 13 by Fernando Costa,
il,T-1
0
nt C r"Cri LIL o I r,art Worth If the o
01'im A i -0 ME T
SARAH J.COLE
my COMMisSION EXPIRE'S
Notary Public., St3wt�,,� ' as
Novqmbw 512015
STATE OF TEXAS §
COUNTY OF TARRANT
This instrument was acknowledged before me on 2013 by Jesus J. Chapa,
the Assistant General 'Manager of the Fort Worth Housing Finance Corporation, a Texas housing finance
corporation, on behalf of said corporation, as Sole Mem' -r of Diecatu,r-�Angle GP, LLC, a Texas limited
liability company, General Partner of Decatur-Angle td.,,g Texas li ted artner g on behalf of
said limited partnership.
Notary Public, State 0 xa
SARM J.ODLE'
MY COMMISSION EXPIRES
Nomber 5,2015
lop It%
OFFICIAL RECORD
HOME,DEVELOPER RENTAL CONTRACT CITY SECRETARY Rev 101-25-13,
U
Decatur-,Aaigle Ltd. FT WORThs Page 41
EXHIBITS:
Exhibit"A""— Project Summary
Exhibit"A-111—HUD Rent Li nuts,
Exhibit"A-2"— Environmental Mitigation Action
Exhibit"B"—Budget
Exhibit IT"—Construction and Reimbursement Schedule
Exhibit"D"I—Audit Requirements
Exhibit"Ell—Loan Documents
Exhibit"F"—Reimbursement Forms
Exhibit`IGII—Project Compliance Report: Rental Housing
Exhibit"W"—Davis-Bacon Requirements— Federal Labor Standards Provisions
Exhibit"T"—Section 3 Reporting Forms
Exhiblet"J"—Standards for Complete Documentation
HOME DEVELOPER RENTAL,CONTR-Aur Rev 10-25-13
Decatur-Angle Ltd. Page 42
U-Mr
r,,xHIBIT "A"
PROJECT SUMMARY
DECATUR-ANGLE LTD,
DESCRIPTION.
Capitalized terms not defined herein shall have meanings assigned to them in the Contract.
Decatur-Angle! Ltd. will use HOME Funds for a portion of the costs to develop Decatur-Angle
Apartments., a multifamily development to be located on an approximately 1 .,18 acre site at the
northeast comer of Old Decatur Road and Angle Avenue, Fort Worth, TX 76,106. The project
w'11 have 17 residential build*
I I ings v ith up to 302 units 'n,cludin 6 one-bedroorn/one bath units,
138 two-bedroom/two bath 'units, 138 three-bedroomJtwo bath units, and 20 four-bedroom/two
bath units. There will also be a community center, laundry building, and maintenance building.
The complex will include amenities such as a pooh community, business, and fitness centers,*
controlled site access; and, appliances and central heat and air in each unit.
Developer will be entitled to make Reimbursement Requests until 30 days after the Completion
Deadline.
In consideration for HOME Funds, Developer agrees to provide the following info nnation and
meet the following requirements.
0 Designate 23 Accessible! Units in accordance with Section 504 requirements. Of these 23
units, 16 must be accessible to, individuals with mobility impairments, and the other 7
must be accessible to individuals with visual or hearing impairments. Accessible Units
shall be marketed in accordance with Section 7'.7 of the Contract.
e Designate 10 floating HOME Units in the project. Of these 10, HOME Units, 8 will be
High HOME Units and 2 will be Low HOME Units. Of the High HOME Units, I is a
one-bedroom -unit, 3 are two-bedroom units,, 3 are three-bedroom units, and 1 is a four-
bedroom unit. Of the Low HOME Units, I is a two-bedroom unit and I is a three-
bedroom unit.
HOME Rents, will be charged in accordance with the rents set forth in Exhibit A-1
HUD Rent L set annually ley HUD, and shall not exceed the High HOME Rent
limit.
Submit Exhibit G - Project Compliance Report: Rental Hiousing regarding the household
income, size, race, ethnicity, gender of head of household, disability status,, and rental
assistance type for the initial tenant of the first HOME Unit to be leased. THE CITY
'WILL WITHHOLD $30,000 OF THE HOME, FUNDS UNTIL CITY VERIFIES
THAT AT LEAST I HOME 'UNIT IS LEASED TO A HOME ELIGIBLE
HOUSEHOLD.
• If the HOME Units do not qualify as affordable rental housing immediately upon lease-up
or at any time during the Affordability Period, the City may invoke any remedies
provided inthe Contract or the Loan Documents.
• Submit to, City a cop
� y of its annual audit and reports to TDHCA during the Affordability.
Period.
SPECIFIC PURPOSE:
The specific purpose of this project is to increase the availability of quality, accessible, affordable
housing for low and moderate income City residents in northeast Fort Worth.
PROJECT OBJECTIVES:
The project will provide 302 housing units affordable to households earning less than 6101% of
AMI, of'which 10 will be designated as HOME-assisted units.
HOME DEVELOPER RENTAL CONTRACT'-EXHIBITS
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EXHIBIT "A-2"'
ENVIRONMENTAL MITIGATION ACTION
DECATUR-ANGLE LTD.
Special conditions, procedure, and requirements identified for the project may include
and are not h 'ted to mitigation of any adverse effects ldent�i�ed by the environmental
mental
review process. The special conditions, procedures, and requirements may differ and are
subject to approval by City a d UD,
Upon completion of the environmental review certification and receipt of authority to use
grant funds from HUD, the City will provide Developer the executed environmental review
record and certi +cations. Developer er agrees to abide by the special conditions,, procedures,
and requirements of the executed environmental preview certification approved TINT
prior to commitment of any finds or undertaking any physical or choice limiting actions.
Commitment of funds and physical or choice limiting actions may include but are not
li ked to property acquisition, demolition, movement, rehabifitation, conversion, repair or
construction.
HOME DEVELOPER RENTAL CONTRACT-EXHIBITS
1APP-A it-A nalp Y,td llpo ntrir A nolP AntirtmPntc
EXHIBIT "B"'
BUDGET
DECATUR-ANGLE LTD,
SOURCES AN,
Development Name: Decatur-Angle Apartments
Priority Construction Loan, Permanent Loan Financing
Source# FundinE Des cri2tion o`Lien. S,taEe Aint. Stage AmOUnt Participants
Bank of
I Conventional Loan Ist $23 000"Poo $23,0001000 Arnerical N.A.
2 Conventional Loai-dFHA
3 HTC S,ndication Proceeds $111724399 $13,793,411 TDHCA
4 HOME
5 Housing Trust Fund
6 CDBG
7 1 Mortgage Revenue Bonds
.................I.-ON
Historic Tax Credit
8 Syndication Proceeds
9 USDA/TX RD Loan(s)
Other Federal Loan or
10 Grant
11 Other State Loan or Grant
Local Government Loan City of Fort
12 or Grant(HOME) 2nd $900NO $1,000,000 Worth
13 Private Loan or Grant
14 Cash Equity
In-Kind Equity/Deferred
15 Developer Fee $1199507
16 Operating Reserves
TOTAL
SOURCES
OFFUNDS $3516241399 $3 917 8 91110 8
TOTAL
USESOF ,�.����r��X'���r���.�a i�,'r'j�WV���,��"�n���.���'Jv����@����j�✓�� f v''a�i s���fi�����$��a''��'2",L�,iy4f�A`+�.;v���f
$3917
, 89,108
ffl"'gg
FUNDS
HOME Funds Budget
Acquisition, and/olr Construction Soft Costs $5001000*
Construction Hard Costs $47010010*
Holdb,aCK^ $30,000
TOTAL $111000.)000
City will hold black $1.0,000 of the HOME Funds until City verifies, that a HOME Unit is
leased to a HOME Eligible Household.
HOME DEVELOPER RENTAL CONTRACT—EXHIBITS
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EXHIBIT 44 ' 7
AUDIT QI h MENTS
DECATUR-ANGLE TD.
NOT APPLICABLE
HOME DEVELOPER RENTAL TAT CO T T—,EXHIBITS,
Decatur- ,agi le Ltd. D + atur-A,ngle Apartments
EXHIBIT 44E"
LOAN DOCUMENTS
DECATUR-AN GL,E LTD,
HOME DEVELOPER RENTAL CONTRACT—EXHIBITS
Decatur-Angle Ltd. —Decatur-Angle Apartments
The Deed of Trust and Promissory Nolte and any other an documents, will be in a form
acceptable to the City. The terms and provisions of any loan documents will be agreed upon by
the Parties prior to acquisition. of the project site and closing of Developer's construction loan.
HOME DEVELOPER RENTAL CONTRACT—EX141BITS
Decatur-Angle Ltd. —Decatur-Ante Apartments
EXHIBIT "F"
REIMBURS. MENTFORMS
DECATUR-ANGLE LTD.
HOME DEVELOPER RENTAL CONTRACT—EXHIBITS
Decatur-Angle Ltd. —Decatur-Angle Apartments
Attachment I
INVOICE
Agency: Decatur-,Aui le Ltd..
Address:
City, State,Zip:
PrQject: Decatur-Angle Apartments
Period of Service:
r.
AN d , ? ;:. r.r, r r:n �s..,r,v r< ,.,. . ,.:. a > lr.,�.r :. ,�+ ,
.....................................
Contractor's,Certification: I certify that the costs,incurred are valid and consistent with the'terms and conditions of
the contract between City and Agency. By signing this invoice, I certify that to the best of my knowledge and belief
the data included in this re I
port is true and accurate. It is acknowledged that the provision of false infor-eat ion could
leave the certifying official subject to,the penalties,of federal,state,and local law.
Signature and Date:
Name:
Title:
ROME DEVELOPER RENTAL CONTRACT—EXHIBIT'S
Decatur-Angle Ltd. —Decatur-Angle Apartments
Attachment 11
City of Fort Worth
Housing, and Econonfic Deve�lopmen,t Department
Expenditure Werr sheet
Developer: Decatur-Angle Ltd.
Pro j ect: Decatur-Angle Apartments,
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
291
Total
*Payroll must identify employee. Rent must identify tenant. Other payments,should identify individuals, if
applicable.
HOME DEVELOPER RENTAL CONTRACT—EXHIBITS
Decatur-Angle Ltd. —Decatur-Angle Apartments
EXHIBIT 64G19
PROJECT COMPLIANCE REPORT*,, RENTAL HOUSING
DECATUR-ANGLE LTD,
HOME DEVELOPER RENT. L CONTRACT—EXHIBITS
Decatur-Angle L td. —Decatur-Angle Apartments
..........
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EXHIBIT
DAVIS-BAC'ON REQUIREMENTS - FEDERAL LABOR STANDARD, PROVISIONS
DECATUR-ANGLE LTD,
NOT APPLICABLE
HOME DEVELOPER RENTAL CONTRACT—EXHIBITS
Decatur-Angle Ltd. —Decatur,-Angle Apartments
EXHIBIT "I"
SECTION 3 REPORTING FORMS
DECATUR-ANGLE LTD,
HOME DEVELOPER RENTAL CONTRACT—EXHIBITS
Decatur-Angle Ltd. —Decatur-Angle Apartments
EXHIBIT 111111
Section 3 Summary Report U.S.Department of Housing OMB Approval No: 2529-0043
Economic Opportunities for and Urban Development (exp. 11/30/201 0)
Low—rind Very Low-Income Persons Office of Fair Housing
And Equal Opportunity HUD Field Office:
Section;back of page for Public Reporting Burden statement
1,Recipient Name Address: (street,city,state,zip) 2.Federal Identification: (grant no,.) I Total Arnount of Award:
4.Contact Person 5.Phone. (include area code)
6.Length of Grant: 7' Reporting Period:
8.Date Report Submitted- 9.Progiram,Code: (Use separate sheet 10. Program Name:
for each program code),
Part 1: EE!plLpyiment and,Training Columns,6,C and F are manda ory fields., Include New Hires in E&F)
A 81 C; D E F
Number of Number of New %of Aggregate Number %of Total Staff Hours Number of Section 3
Job Category New Hires Hires that are of Staff Hours of New Hiires for Section 3 Employees 'Trainees
Sec.3 Residents that are Sec,3 Residents and Trainees
Technicians
171
77
Construction by Trade(List);,
Trade
77'
Trade
1!IT
777
7 7777777�,,�
Trade
o'
77 777
77�e 11 77 71
M 00 'i I
TO'
Program Codes 3 Public/Indian Housmg 4=Homeless Assistance 8=CDBG State Administered
1=Flexible Subsidy A=Development, 5-HOME 9=Other CD Programs
2,=Section 2012/8,11 B=Operation 6=HOME State Administered 10=Other Housing Programs
C=Modernization 7=CDBG Entitlement
Page I of 2 form HUD 60002,(612001)
Ref 24 C 1 35
Part 11: Contracts Awarded
1, Construction Contracts:
A. Total,dollar arnount of all contracts awarded on the project $
E3,. Total dollar amount of contracts awarded to Section 3 businesses $
C. Percentage of the total d,ollilar amount that was awarded to Section,3 businesses %
D. Total number of Section 3 businesses receiving contracts
2. Non-Construction Contracts:
A. Total dollar amount all non-construction contracts awarded on the projectlactivity $
B. Total dollar amount of non-construction contracts awarded to Section 3 businesses $
C. Percentage of the total dollar amount that was awarded to Section 3 businesses %
D. Total number of Section 3 businesses receiving non-construction contracts,
Part III-., Summary
Indicate the efforts made to direct,the employment and other economic opportunities generated by HUD financial assistance for housing
and community development programs,to the greatest extent feasible,toward low-and very low-income persons,particularly those who
are recipients of government assistance for housing. (:heck all that apply.)
Attempted to recruit low-income residents through: local advertising media,signs prominently displayed at the project site,
contracts with the community organizations and public or private agencies operating within the metropolitan area(or
nonmetropolitan county)in which the Section 3 covered program or project is located,or similar methodls.,
Participated in a HUD program or other program which promotes the training or employment of Section 3 residents.
Participated in a HUD program or other program which promotes the award of contracts,to business concerns which meet the
definition of Section 3 busilness,concerns.
Coordinated with Youthbuild Programs administered in the metropolitan area in which the Section 3 covered project is located.
Other—describe below.,
Public reporting for this collection of information is estimated to average 2 hours per response,including the time for reviewing instructions,
searching existing data sources,gathering and maintaining the data needed,and completing and reviewing the collection of information.
This agency may not collect this information,and you are not required to complete this form,unless it displays a currently valid OMB
number.
Section 3 of the Housing and Urban Development Act of 1968,as amended, 12 U.S.C. 1701u,mandates that the Department ensures that
employment and other economic opportunities generated by its housing and community development assistance programs are directed
toward low-and very-low income persons,parti�cu�larly those who are recipients of government assistance housing. The regulations are
found at 24 CFR Part 135. The information will be used by the Department,to monitor prolgi,ra,mi,recipients'compliance with Section 3,to
assess the results of the Department's efforts to meet the statutory objectives of Section 3,to prepare reports to Congress,,and by
recipients as self-monitoring tool. The data is entered into a database and will be analyzed and distributed. The collection of information
involves recipients receiving,Federal financial assistance for hiousiing and community development programs covered by Section 3. The
information will be collected annu�a,llly to assist HUD in meeting its reporting requirements under Section 808(e)(6)of the Fair Housing,Act
and Section 916 of the IHCDA of 1992. An assurance of confiden�tialiity is not applicable to this form. The Privacy Act of 1974 and OMIB
Circular A-1018 are not applicable. The reporting requirements do not contain sensitive questions. Data is cumulative;,personal identifying
information is not included.
Page 2 of 2 form HUD 60002(11/201 )
Ref 2 4 GFR 135
Form HUD-60002,Section 3 Summary Report,Economic Opportunities for Low-and Very Low-Income Persons.
Instructions: This form is to be used to report annual 8. �
Program Code: Enter the appropriate program code as listed at
accomplishments,provided regarding employment ment and other economic bottom of the page.
9 p the p
" p "Program Program corresponding
opportunities to low-and very low-income arsons under �. Program h�ame. Enter the name of HI
Section 3 of the Housing and Urban Development Act of 1968. The with the Program CC�ode"d in number 8.
Section 3 regulations apply to any public arid fnd an housing
p rogra ms that receive: 1�development assistance pursuant to Fart I: Employment and Training Opportunities b of the U.S.
Housing Act of 1937;(2)operating assistance Column : Contains various j g Professionals are
pole who have special knowledge occupation o cats tines
p e an o p n i.e.
pursuant to sateen�o the U.S..�.Housing,Act.of 1937 or � defined as
p p ge of
modernization grants pursuant to Section 14 of the U.S.'Housing Act supervisors"architects,surveyors,planners,and computer
of 1937 and to reclplents of housing and community development programmers). For construction positions,list each trade and provide
mm excess of$200,000 eicpended for: (1)housing data in columns S through F for each trade where persons re
assistance in
rehabilitation including,reduction and abatement of lead-based paint employed. The category of"Other"includes occupations such as
hazards);(2)housing construction;or(3)other public construction service workers.
projects;and to contracts and subcontracts in excess omf`$"ti 0,0001 Column B, (Mandatory Field) Enter the number of new hires for
awarded in connection with the Section-3-covered activity, each category of workers identified in Column,now in connection with
three parts,which are to be completed for this award. New, who,hire refers to a person is not on the contractor's
all programs g
ams covered has 3. Fart I relates to employment or reci lent's roll for employment at the time of selection for the
and training.The recipient has the option to determine numerical Section 3 covered award or at the time of receipt of Section 3 covered
employment/training goals either on the basis of the number of hours assistance
worked by new,hires(columns E,D,E and F). Part 11 of the form Column C: (Mandatory Field) Enter the number of Section 3 new
relates to contracting,and Part Ill summarizes recipients'efforts to hires for each category of workers identified in Column A in
comply with Section 3. connection with thin award. Section 3 new hire refers to a Section 3
Recipients or,contractors subject to Section 3 requirements roust resident who is not on the contractor's or recipient's payroll for
maintain appropriate documentation to establish that HUD financial employment at the time of selection for the Section 3 covered award or
assistance for housing and community development programs were at the time of receipt of Section 3 covered assistance.
directed toward low-and very low-income persons.* A recipient of Colluimin D Enter the percentage of all the staff hours of new hires
Section 3 covered assistance shall submit one copy of this report to (Section 3 residents)in connection with this award.
HUD Headquarters,Office of pair Housing and Equal Opportunity. Column E: Enter the percentage of the total staff hours worked for
program providing assistan requires an annual Section employees and trainees''here the ro ram rovmdin � ce 'Haas including new hires connected
performance report,thin Section 3 report is to be submitted at the with this award. Include staff hours for part-time and full-time
same ti me the program performance report is submitted. Where an positions.
annual performance report is not required,this Section 3 report is to be Column F: (Mandatory Field) Enter the number of Section 3
submitted by January 10 and,if the project ends before December 31, residents that were trained in connection with this award.
within 10,days of project completion, Only Prime Recipients are Part 11. Contract Opportunities
required to report to HUD. The report must include Bloch 1 Construction Contracts
accomplishments of all recipients and their Section,31 covered Item A Enter the total dollar amount of all contracts awarded on the
contractors and subcontractors. project/prog,ramm.
HILL Field Office: Enter the Field Office name. Item B; Enter the total dollar amount of contracts connected with this
1. recipient: Enter the name and address of the recipient project/progralml that were awarded to Section 3 businesses.
submitting this report. Item C Enter the percentage of the total dollar amount of contracts
2. Federal Identification: Enter the renumber that appears on the connected with this project/program awarded to Section 3 businesses.
award form(with dashes). The award may be a grant, Item,D Enter the number of;Section 3 businesses receiving awards.
cooperative agreement or contract. Block 2: Nion-Constnuction Contracts
3. Dollar Amount of, ward Enter the dollar amount,rounded to the Item A Enter the total dollar amount of all contracts awarded on the
nearest dollar,received by the recipient. project/program.
4&5. Contact Person/Phone Enter the name and telephone number Item El: Enter the total dollar amount of contracts connected with this
of the person with knowledge of the award and the recipient's project awarded to Section 3 businesses.
implementation of Section 3. Item . Enter the percentage of the total dollar amount of contracts
6" Reporting Period: Indicate the time period(months and year) connected with this piroject/program awarded to Section,3 businesses.
this report covers. Item 0 Enter the number of Section 3 businesses receiving awards.
7. Gate Report Submitted: Enter the appropnate date.. Part III Summary of Efforts—Self-explanatory
Submit one(1)copy of this report to the HUD Headquarters Office of
Fair Housing and Equal Opportunity,at the same time the The Secretary may establish income ceilings higher or lower than 30 percent
performance report is submitted to the program office. The Section 3 of the median for the area on the basis of the Secretarys findings such that
report is submitted by January 19. Include only contracts executed variations are necessary because of prevailing levels of construction costs
during the period specified in item 8. PHAs/IHAs are to report all or unusually high-or low-income families., Very low-income persons mean
contracts/subcontracts. low-income families(including single persons)whose incomes do not
exceed 50 percent of the median family income area,as determined by the
The terms"'low-income persons"and very low-income persons"have Secretary with adjustments or smaller and larger families,except that the
the same meanings given the terms in section 3(b)(2 of the United Secretary may establish income ceilings higher or lower than 50 percent of
States Housing Act of 1937. Low-income persons mean families the median for the area on the basis of the,Secretary's findings that such
including single persons)whose incomes do not exceed 3 percent of variations are necessary because of unusually high or low family incomes.
the median income for the area,as determined by the Secretary,with
adjustments,for smaller and larger families,except that
Page i form,HUD 6,0002(11/2010,
Ref 24 C R 13
EXHIBIT "J"
STANDARDS FOR COMPLETE DOCUMENTATION
DECATUR-ANGLE LTD.
fIOME DEVELOPER RENTAL CONTRACT—EXHIBITS
Decatur-Angle Ltd. —Decatur-Angle Apartments
ORTH,ia
F RT
Standard of Dow a t t , for Reimbursement of Development Coists
Cost Type, Documentation Standard
Acquisition of Vacant Lots
Notice to Seller (date muist be on or before the date of options agreement
or sales contract anid signed the u r and seller
Recorded Deed of Trust
Purchase Agreement Required HUD language
0 Master Settlement statement
0 Apipralsal or other document used to determine p chas,el price
Proof
Payment (bank statement/ca ncell led check)
Soft Costs (Architect, Engineer, 0 Invoice
Landscaping, Surveys, Appraisals, Invo ce should include
Enivi,ronr"r ental, Legal Fees, Other date,
Consultants, Etc.) cor"pany"s letterhead;
address for which service is pr v ed
description of service(s)a and item(s);
amount t'for itemized! services; and
total amount
Proof of 'a ent(ie- bank statement or cancelled check)
If'applicable,fully executed contract 'ser ice agreements reemer is and applicable
amendments
Provide printout from veri fyin
cor tr ctor su co wtr ctor is not listed on the debarred and
suspension sior list
If only a portion is being paid with City funds, then slow calcul ation and
documentation o 'how costs are allocated.
CHDO Ol eratin Pro ect Delivery r invoice
Expenses _ invoice should include,
date;
company's letterhead,
address for which service is r vi e
description of services and item(s);
a ount for itemized services-
total amount
Proof of Payment i. bank statement or cancelled check)
i esl eet s Signed by Employee and Supervisor
Activity o s) Signed by Employee and Supervisor
Pay Period Deter Should he Reflected
If ayin for rent or contract services, copy of executed agreements.
i""l:only a portion is ping paid, with City funds,then show calculation and
docur ienitati n of how costs are allocated.
Housing and Economic Development
FINAL as of'4/24/2013, Pagel
'FoRT WORTH,
H
Standard, of' c entation for Reimbursement of Development Costs
Construction Costs Contractors & nvo�iee
Subcontractors) Invoice should include-,
dote-
company's letterhead
address for which service is provided
description of service(s) and item(s),-
amount for itemized services; and
total amount
Proof of Payment i.e. bank statement or cancelled check)
Timesheet(s)Signed by Employee and ,supervisor
Activity Sheet(s) Signed by Employee and Supervisor
Pay 'Period Dates Should be Reflected
Copy of applicable inspection report(s) conducted by HED, Inspector
Copy of executed agreements
Provide, printout from ww1w.sam.gov verifying
su c_
co tractoir r or i
�" b ont Duct s not lusted on the debarred and
suspension list
0 If only a portion is being paid with City funds, then showy calculation and
documentation of how r costs are allocated.
For retainage for the prime contractor, lien waivers for the prime and all
subcontractors.
Materials Purchased by Developer Invoice.
Invoice should include:
d ate;
company's letterhead;
,address where materials will be used
description of services and item(s);
cost by quantity, and
total amount
40 Proof of Payment (I.e. bank statement or cancelled check)
Developer Fee 0 Final invoice Reflecting Total Development Cost
Proof of payment for any other entity contributing to developim�ent costs.
• Shower calculation of agreed upon developer fee percentage
0 Copies of final lien releases from contractor/subcontractor
0 Complete Documentation required in contract for home/ulnit produced
i.e. income does for eligible homebuyer,sales contract between
developerhornebuyer,HAP Celed of Trust required affordability perioc
language, etc)
Housing and Economic Development
FINAL as of 4/2, 'Page 2
M&C Review Page I Of 3
Official site of t City of IFort Worth,Texas
CITY COUNCIL Ar.ENDA Fou Wo R7 n
COUNCIL ACTION: Approved on 8/20/2013
10 �Y I / I /rrl I I/q III Nrl 1 /i,!rr rr l Irr /rrll /! r I
CONTINUED FROM A PREVIOUS WEEK
DATE: 8/13/2013 REFERENCE C-26387 LOG NAME: 177 RPANGLEAPARTMENTS
N 0.:
CO E: C TYPE: NOW PUBLIC NO
CONSENT HEARING:
SUBJECT: Aulthorize Change of Use and Expenditure of Additional HOME Investment Partnerships
Program Grant Funds in the Amount of$6010,000.00 to Decatur-Angle Ltd., in the Form of
a Subordinate Loan for the Development of the, Decatur-Angle Apartments to be Located
at Angle Avenue and Old Decatur Road, Authorize Execution of a Conditional
Commitment and Contract) Authorize Substantial,Amendment to the City's 2009-2010
and 2011-2012 Action Plans and Substitution of Funding Years (COUNCIL, DISTRICT 2)
N
It is recommended that the city Council,
1 Authorize a substantial amendment to the City's 2009-2010 and 2011-2012 Action Plans-,
2. Authorize the substitution of current and prior funding years in order to meet commitment,
disbursement and expenditure deadlines for grant funds,from the iUnited States Department of
Housing and Urban Development,
3. Authorize a change in use and expenditure of additional HOME Investment Partnerships Program
Grant funds in the amount of$6010,000.,00: for a total of$1,000,000.00 ins OME funds to Deca�tur-
Angle Ltd., for the development of the IDecatur-A,ngle Apartments to be located at the intersection of
Angle Avenue and Old Decatur Road;
4. Authorize the City Manager or his designee to execute a conditional commitment with Decatur-
Anigle Ltdl.1 for a, subordinate loan that conditions funding on, among other things, satisfactory
colrnpilletion of HOME requirements and receipt of Housing Tax Credits from the Texas Department of
Housing: and Community Affairs',
5. Authorize the City Manager or his designee to execute a contract with Decatur-Angle Ltd., for the
development for a three year term beginlniiing 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'Decatur-Angle Ltd., requests an extension and such extension is
necessary for completion of the development; 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 arnendmenit is within the scope of the
Development and in compliance with City policies,and applicable laws and regulations governing the
use of federal grant funds.
PISCOSION:
The Housing and Economic, Development Department issued a Request For Proposals (RFP) in April
2013 to award HOME Investment Partnership Program (HOME) grant funds to developers applying to
the Texas, Department of IHousing and Community Affairs JDHCA) for Housing Tax Credits. The
http-.Happs.cfwnet.org/'counc*l
1 _packet/mc_review.asp?JD=I 8747&counci/date-8/20/20l 31 9/24�/'2�O 13
M&C Review Page 2 of 3
NRP Croup, LLCM (NRP) submitted a response requesting the amount of$400,000 o in HOME funds
for construction costs related to the development of the Deoetur-Angle Apartments, e, multifamily
rental development to be located at the intersection of Angle Avenue and Old Decatur Road.
Can August 6, 2013, the Board of the Fort Worth Housing Finance Corporation EC approved an
agreement with NRP to together form Decatur-Angle Ltd., e Texas limited partnership that will
construct, oven and manage the Decatur-Angle Apartments. The HFC will form IDecetur Angle CIS,
LLCM, e single purpose entity,that will serve as general partner of the limited partnership. The H C
and H P will submit an application to the TDHCA for four percent noncompetitive tax credits and
multifamily bonds as part of the financing for the development.
The development will consist of approximately 302 one, tiro, three, and four-bedroom units. All of the
units will be available for rent to households earning at or below 80 percent of Area Median Income
as determined by HUD. The units will include energy efficient appliances and central heat air
conditioning. The complex will include amenities such as controlled site access, pool, picnic areas,
playground and! laundry rooms.
On August 6, 2013 the City Council approved the City's Annual Action Plan which included an
allocation in the amount of$400,000 of HOME funds for the development &C C-26369). Staff
recommends the change in use and e peu diture in the amount of$600,000.00 in prior years HOME
funds for the,development for a total award in the amount of 1,00 ,000.00 in the form of e
subordinate loan. HOME funds may be used for any eligible cost related to this,development. Total
development cost,1 including the $1,0100,900.Cho in City HOME funds, is approximately in the amount
of$36,000,000.00.
Staff,recommends the follgwing HOME loan terms.
i. Designate H ME-assisted units .according to HOME regulations with a 20-Year Affordability
Period
iii. ,secure payment of the HOME funds and performance of the, HOME requirements by a Creed of
Trust on the real property;.
iii., loan terra to rune concurrently with the Affordability Period,
iv. One percent interest rate or the Applicable Federal Fete, whichever is less, and
iv. (Payment of principal and interest will begin within 30 days of project lease up as defined in the
contract.
The comr i mrennt of Ali.�ME funds is, conditioned upon the followin :
i Receipt of grant funds from HUD;
ii. Satisfactory completion of the environmental review per 24 CFR Part 58;
iii. Authorization to use grant funds from HUD;
iv. Equity, construction and permanent financing for the development acceptable to the City,
v. Award of tax credits by the T HCA,
vi. Certificate of bond reservation by the Texas Bond Review Board, and
vii. Closing on equity and all other financing for the development.
The Action Plan funding years selected may very and be substituted based on the Principle of First
In, First.Cut, in order to expend oldest grunt funds first. The development vrilll benefit lour and very
low-income citizens by providing therm with quality, accessible, affordable housing. A public comment
period on the City's 2013-2914 Annual Action Plan, including the intent to ,allocate HOME funds for
the development, was held l June 23, 2,011 3 to,July 23, 2013. A public comment period yams held on
the intent to change use and expend prior year's HOME funds was held from June 28, 2013 to July
29, 2013. Any comments are maintained by the Housing and l conornic Development Department in
accordance with federal regulations.
This development is located in COUNCIL DISTRICT 2.
hUpWapps.o fwnet.org/cOtinc _1 c . t 8747&col nc te= 2 ' 013 9/24/2013
M&C Review Page 3 of
FISCAL. INFORMATION/CERTIFICATION:
The Financial Management Services, iireeter certifies that upon approval of the above
recommendations and receipt of great funds, founds will be available in the current and future
operating budget as appropriated, of the Grants Funs d',
TO, Fund/Account/Centers FROM Fund A►ccouint/Cent rs
GR76......53912. 01_x20665'12 $ ,± .0 G.R76 539' 720635 07 $11 .
76 539120 01x206351200 $100,0010.,00 GR 6 3912 1x206531 070 $�. ! �.:! 00.00 IT
7 ._ 539120 017206531200 $500,%0-00
Submlitted, for Ci Maniag hr's Off ice bv Fernando Costa 122
I- 1nat na De rtment Head: Cynthia Garcia (8187')
Additional onal Informa ion Contac Jiesse Madsen (7337)
ATTACHMENT'S
NRP"n IeAparmentsCo rr ilMa . m