HomeMy WebLinkAboutContract 41392 CITY SECRETARY
FORTWORTH CONTRACT NO.
January 14, 2011
Cornerstone Assistance Network Housing Development Corporation
3500 Noble Avenue
Fort Worth, Texas 76111
Attention: Philip Posey-Director
Reference: Cornerstone Assistance Network Housing Development Corporation — Cornerstone Poly Single
Family Housing Development
Dear Mr. Posey:
We are pleased to present for your review the following terms, conditions, and requirements based on the
application of Cornerstone Assistance Network Housing Development Corporation, a Community Housing
Development Organization ("CHDO"), for a grant of HOME Investment Partnerships Program Grant funds for
operating expenses in an amount not to exceed $50,000.00 from the City of Fort Worth (City), subject to the
following terms and conditions:
G_ Cornerstone Assistance Network Housing Development Corporation
rporation
RANT R City of Fort Worth("City")
AMOUNT $50,000 for CHDO operating expenses, as defined under 24 CFR
92.208.
USE City will provide a list of eligible expenses for CHDO operating funds.
TERM Term of the contract and grant is twelve (12) months, with a one-year
extension upon request.
PAYMENT/ CHDO operating expenses will be provided to CANHDC on a
REPAYMENT reimbursement basis only. City will disburse funds upon receipt of
satisfactory documentation of eligible expenses. In the event any
expense is determined to have been an ineligible expense, the amount
of the ineligible expenses must be reimbursed to City.
CONDITIONS TO i. This letter constitutes a conditional commitment of funds.
GRANT FUNDING ii. Condition of loan based on City Council approval to award
HOME funds to CANHDC and receipt of HOME funds from HUD
for the Project.
iii. CANHDC must enter into a contract with City governing the use
Housing and Economic and Development Department OFFICIAL RECORD
The City of Fort Worth * 1000 Throclm�orton Street*Fort Wow,Texas 7610 CITY SECRETARY
817-392-7520*Fax 817-392-2013 FT. WORTH, Ta(
of the HOME funds for operating expenses.
iv. The required contract and documentation for reimbursement
must be acceptable in all respects to the City and its counsel.
COMPLIANCE WITH i. CANHDC agrees that as a certified Community Housing
FEDERAL, STATE Development Organization, they will comply with 24 CFR
AND LOCAL LAWS 92.300 and 92.301.
ii. CANHDC must remain in compliance with the requirements of
any City agreements for use of HOME Funds for specific
projects for operating expense funding to continue.
iii. CANHDC certifies that it is not currently listed on the General
Services Administration's List of Parties Excluded from Federal
Procurement or Non-procurement Programs in accordance with
Executive Orders 12549 and 12689 and will not enter into
agreements to expend Federal Funds with contractors that are
currently listed.
iv. CANHDC must comply with all prescribed procedures regarding
nondiscrimination and equal opportunity, affirmative marketing,
displacement and relocation, labor relations, lead-based paint
and conflict of interest provisions described in 24 CFR 92
subpart H and 24 CFR 92.504.
V. Organizations that are directly funded under the HOME program
may not engage in inherently religious activities as defined
under 24 CFR 92.257.
vi. CANHDC must comply with all applicable Federal laws, laws of
the State of Texas and ordinances of the City of Fort Worth.
vii. CANHDC must agree to any terms and conditions as necessary
in order to ensure compliance with all federal regulations, state
laws, and local ordinances.
INSURANCE CANHDC must maintain and present to the City on a semi-annual
REQUIREMENTS basis, a General Liability Insurance in the amount of $500,000
each occurrence, $1,000,000 aggregate limit.
CANHDC is to maintain and present to the City on a semi-annual basis,
a Business Automobile Liability Insurance as follows:
$1,000,000 each accident on combined single-limit basis, or
$250,000 Property Damage
$500,000 Bodily Injury per person per occurrence
$2,000,000 Aggregate
CANHDC to maintain, and present to the City on a semi-annual basis,
Workers' Compensation insurance as follows:
Statutory Limits
Employers Liability
$100,000 each accident/occurrence
$100,000 disease/per employee
$500,000 disease policy limit
AUDITS City will conduct annual audits to ensure compliance with contracts and
federal, state, and local laws. CANHDC will maintain records according
to the recordkeeping requirements outlined below.
L CANHDC must maintain records that will provide accurate,
RECORDKEEPING current, separate, and complete disclosure of the status of the
funds received pursuant to this Agreement and pursuant to any
other applicable Federal and/or State regulations establishing
standards for financial management.
ii. Upon receipt of reasonable written notice by the City and as often
as City may deem necessary, CANHDC will make available to
the City all of its records and will permit City to conduct audits of
all contracts, invoices, materials, payrolls, records of personnel,
conditions or employment and all other data relating to the
stated Use.
iii. CANHDC will provide quarterly financial and beneficiary reports
that will contain such records, data and information as City may
request pertinent to matters covered by this Agreement. Reports
will be due to the Housing and Economic Development
department within 45 days of the end of the quarter. Required
report format/template and/or instructions to be provided by the
City. CANHDC will provide any additional information as
requested by the City within 10 days of date of receipt of written
request.
CLOSING COSTS The Grant is to be closed at no cost to the City. Borrower shall be
responsible for all costs associated with this transaction, including title
insurance, attorney fees, filing fees, closing costs, etc.
ACCEPTANCE In order for this Conditional Commitment to remain effective, an
original must be executed by Grantee and returned to the City on or
before July 23, 2011. Any extension of such time for acceptance must
be in writing and signed by a City representative. These terms can be
modified or other terms negotiated between the parties upon mutual
written agreement.
EXPIRATION To cause this commitment to remain in effect, the Contract between
CANHDC and the City must be executed on or before January 31,
2012. Any extension of such date must be in writing and signed by the
City.
Any funds disbursed against this commitment will be subject to the City's receipt of satisfactory documentation
of the Grant and due diligence satisfaction. This Commitment is confidential and is intended solely for the use
of CANHDC. No other person or parties has any rights whatsoever with respect to the above terms and
conditions. These terms can be modified or other terms negotiated between the parties upon mutual written
agreement.
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We hope the foregoing is responsive to your needs and that you will accept this offer. Please 1 °�i0��
acceptance with your signature below and by returning a signed copy to- p'O'�o 0°01
0 0'�
City of Fort Worth �U a
Housing and Economic Development Department Attes74tx .y:
�001' a 0
1000 Throckmorton Q�*°o° oo -,d
Fort Worth, TX 76102 �a °°oo°oo°° ,y
Attn: Ryan Haden, Development Project Coordinator �� lk
Aart Hendrix, City S taffy
Sincerely`--
- Date:
Susan larn
AssistahLC' Manager
FOtC �I.. UIRED
Approve as,t I o fo 91le1gLAalAitA y
Date:
Lean uzman
Assistant City Attorney
The undersigned hereby accepts the foregoing Commitment and the terms and requirements herein set for
and agrees to be bound thereby.
GRANTEE
Cornerstone Assistance Network Housing Development Corporation
Signed:
te: Z /
p Posey
Director
OFFICIAL RECORD
CITY SECRETARY
�FT 'NORTH, TX