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Home My WebLink AboutContract 45056-A2 CONTRACT N0,--4- ,S SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO. 45056 WHEREAS, on October 30, 2013 the City of Fort Worth ("City") and Tarrant County Housing Partnership, Inc. ("Developer") made and entered into City Secretary Contract No. 45056 (the "Contract"), as authorized by the City Council in M&C C-25531 adopted on March 27, 2012 which provided $1,115,000 of City's HOME funds to Developer for the development and construction of up to 10 single family houses in the Hillside-Morningside neighborhood; WHEREAS, the funding provided to Developer in the Contract was from a grant received by the City from the United States Department of Housing and Urban Development through the HOME Investment Partnership Program, Catalog of Federal Domestic Assistance No. 14.239; WHEREAS, a portion of the City's HOME funds are reserved for the use of certain housing development entities that qualify under the HOME Regulations as a Community Housing Development Organization ("CHDO") and Developer is qualified as a CHDO under the HOME Regulations; WHEREAS, Developer requested $117,000.00 of HOME CHDO funds for the construction of a single family house located at 1116 E. Allen to be sold to HOME Eligible Buyers under the terms and conditions set forth in the Contract; WHEREAS, the First Amendment increased the line item amounts in Exhibit "B" - Project and Reimbursement Schedule and in Exhibit "C" - Budget due to unforeseen additional costs for the project increasing the total amount of HOME Funds to $125,000.00; WHEREAS, Developer has requested an additional amendment to increase the line item amounts listed in Exhibit "B" - Budget and to extend the Completion Deadline in Exhibit "C" - Project and Reimbursement Schedule due to scheduling issues and the rise in price for construction materials for the project; WHEREAS, the enviromnental review for this house required noise mitigation which was inadvertently was not detailed in the Contract; and WHEREAS, it is the mutual desire of City and Developer to amend the Contract to complete the project and meet Contract objectives. NOW THEREFORE, City and Developer hereby agree as follows: I. Section 2. DEFINITIONS is amended to be and read as follows: "Completion Deadline means June 30, 2016." f;;n pprt IyI �pp� , l.4Yh X X CONTRACT AMENDMENT 2 to CSC No.45056 Page I Tal7ant County Housing Partnership,Inc.— 1116 E.Allen Rev. 9/2015 "Home Funds means the HOME Program grant funds supplied by City to Developer under the terms of this Contract not to exceed $180,286.20, which includes the costs set forth in Exhibit"B"—Budget and the Developer Fee." II. Section 4.1 is amended to be and read as follows: "4.1 Provide HOME Funds. City shall provide Developer up to $162,732.00 of HOME Funds in the form of the Loan for eligible expenses for the development of the house under the terms and conditions described herein." The first sentence of Section 17. INSURANCE AND BONDING is amended to be and read as follows: "Developer will maintain coverage in the form of insurance or bond in the amount of $162,732.00 to insure against loss from the fraud, theft or dishonesty of any of Developer's officers, agents, trustee, directors or employees." III. Exhibit "A-2" - Environmental Mitigation Action, Exhibit "B" - Budget Revised 9/2014, and Exhibit "C" - Project and Reimbursement Schedule Revised 9/2014 attached to the Contract are hereby replaced with Exhibit "A-2" - Environmental Mitigation Action Revised 9/2015, Exhibit "B" - Budget Revised 9/2015, and Exhibit "C" - Project and Reimbursement Schedule Revised 9/2015 attached hereto. IV. This amendment is effective as of the Effective Date of the Contract except the amendment to Section 17 is effective as of the date of this amendment. VII. All other terms and conditions of City Secretary Contract No. 45056 not amended herein remain unaffected and in full force and effect, are binding upon the Parties, and are hereby ratified by the Parties. Capitalized terms not defined herein shall have meanings assigned to them in the Contract. [SIGNATURES APPEAR ON NEXT PAGE] CONTRACT AMENDMENT 2 to CSC No.45056 Page 2 Tarrant County Housing Partnership, Inc.— 1116 E.Allen Rev. 9/2015 ACCEPTED AND AG F ATTEST CITY OF FORT WORTH FO m - to By: City Seo�oi�'. l Fernando Costa, Assistant City Manager M&C C-25531 Date. APPROVED AS TO FO I�ND LEGALITY: Vicki S. Ganske, Senior Assistant City Attorney TARRANT COUNTY HOUSING P TN it %RR a Tee non- corporation By: 0 C 0 ess, Pris, ent F F N C ri AL C 0 R 0 rx CONTRACT AMENDMENT 2 to CSC No.45056 Page 3 Tarrant County Housing Partnership, Inc.— 1116 E.Allen Rev. 9/2015 EXHIBIT "A-2" ENVIRONMENTAL MITIGATION REQUIRED REVISED 9/2015 TARRANT COUNTY HOUSING PARTNERSHIP, INC. 1116 E. ALLEN HOME Funds may be reimbursed for exempt activities; however, HOME funds will not be paid, and costs cannot be incurred until City has conducted and completed an environmental review of the proposed project site as required under 24 CFR Part 58. The environmental review may result in a decision to proceed with, modify, or cancel the project. Further, Developer will not undertake or commit any funds to physical or choice limiting actions, including property acquisition, demolition, movement, rehabilitation, conversion, repair or construction until satisfactory completion of environmental review and receipt by City of an authorization to use grant funds from HUD under 24 CFR Part 58. EA MITIGATION MEASUREES AND CONDITION FOR PROJECT APPROVAL: The lead levels in the soil exceed the allowable levels. The Developer should take appropriate actions to mitigate this concern before construction is allowed to begin. CONTRACT AMENDMENT 2 to CSC No.45056 Page 4 Tarrant County Housing Partnership, Inc.— 1116 E.Allen Rev. 09/2015 EXHIBIT "B" BUDGET REVISED 9/2015 TARRANT COUNTY HOUSING PARTNERSHIP, INC. 1116 E. ALLEN HOME Funds for Project Related Development Costs: $162,732.00 Developer Fee*: $ 17,554.20 TOTAL HOME FUNDS: $180,286.20 Development Budget Use of Funds Source of Funds Predevelopment Cost HOME$ OTHER$ SOURCE OF OTHER TOTAL$ FUNDS FUNDS FUNDS FUNDS (1) (2) (Names) (1+2) 1. Market Stud 2. Feasibility(i.e.:preliminary work 10,633.00 10,633.00 write-up, cost estimates,design) 3. Other Total Predevelo ment Cost 1+2=3) 10,633.00 10,633.00 Development Cost 4.Land and/or building acquisition 4,088.00 4,088.00 5. Site Preparation 7,410.00 7,410.00 6. Construction Cost 132,241.00 132,241.00 7.Fence 2,650.00 2,650.00 8. Landscape 2,100.00 2,100.00 9. Contingency 10.Appraisal 475.00 Proceeds of Sale 475.00 11.Architect&Engineering Fees 2,500.00 2,500.00 12. Construction Management Fee/ Developer Fee 13. Construction Loan Interest 14.Property Survey 375.00 Proceeds of Sale 375.00 15.Legal Fees 250.00 Proceeds of Sale 250.00 16.Real Estate Fees 4,680.00 Proceeds of Sale 4,680.00 17.Utility Hookup/Impact Fees 1,110.00 1,110.00 18.Title and Recording Fees 780.00 Proceeds of Sale 780.00 19. Construction Management 6,250.00 6,250.00 20.Bond Fees Total Development Cost(Total of items 152,099.00 12,810.00 164,909.00 4-20 Total Cost 162,732.00 12,810.00 175,542.00 *Developer Fee shall be paid from HOME Funds by invoice after the closing of the sale of the house to a HOME Eligible Buyer. The Developer Fee consists of 10% of the project related development costs. "Seller-paid closing costs as shown on the HUD-1 Settlement Statement paid from gross sales proceeds from the sale of the house. CONTRACT AMENDMENT 2 to CSC No.45056 Page 5 Tarrant County Housing Partnership, Inc.— 1116 E.Allen Rev. 09/2015 EXHIBIT "C" PROJECT AND REIMBURSEMENT SCHEDULE REVISED 9/2015 TARRANT COUNTY HOUSING PARTNERSHIP, INC. 1116 E. ALLEN Phase Activity Beginning Week—subject to weather permitting PHASE I ACTIVITIES: Contract signed Land and/or Building Acquisition Survey PHASE I DEADLINE: October 24,2014 1st Payment* $46,474.87* PHASE II ACTTVIITES: Site Preparation Architectural &Engineering Fees Landscaping Construction costs PHASE II DEADLINE: 2nd Payment* $18,725.99* December 31,2015 PHASE III ACTIVHTES: Site Preparation Architectural &Engineering Fees Construction Costs&Fence Utility hookup/Impact fees PHASE III DEADLINE: 3rd Payment* $53,091.04* February 28,2016 PHASE IV ACTIVHTES: Construction costs Utility hookup/Impact fees PHASE IV DEADLINE: 4'h Payment* $30,000.00* April 30,2016 PHASE V ACTIVITIES: Utility hookup/Impact fees Architectural&Engineering Fees Landscaping Construction Costs &Fence PHASE V DEADLINE: FINAL PAYMENT* $14,440.10* June 30,2016 CONSTRUCTION TOTAL $162,732.00 DEVELOPER FEE** Paid after closing of sale to HOME $17,554.20** Eligible Buyer *Developer will be reimbursed for eligible expenses only. The amounts are esti pates and are subject to change. **10% of project related development costs as shown on Exhibit"C"-Budget. CONTRACT AMENDMENT 2 to CSC No.45056 Page 6 Tarrant County Housing Partnership,Inc.— 1116 E.Allen Rev. 9/2015