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Home My WebLink About174626 FORT COLLINS HABITAT FOR HUMANITY - CONTRACT - AGREEMENT MISC - FORT COLLINS HABITAT FOR HUMANITY (2)AMENDMENT TO THE RECIPIENT CONTRACT FOR COMMUNITY DEVELOPMENT BLOCK GRANT, HOME INVESTMENT PARTNERSHIP, & AFFORDABLE HOUSING FUND FUNDING THIS AGREEMENT is made and entered into by and between THE CITY OF FORT COLLINS, COLORADO, a Colorado municipal corporation (hereinafter referred to as "the City"), and FORT COLLINS HABITAT FOR HUMANITY, INC. (hereinafter referred to as "the Subrecipient'). WITNESSETH: WHEREAS, the parties hereto previously entered into a Recipient Contract for Funding (the "Contract") which provided for the rendition of certain services by the Subrecipient and a distribution by the City to the Subrecipient of certain funds made available to the City from the United States Government under Title II of the Cranston - Gonzales National Affordable Housing Act, and from the City's General Fund; and WHEREAS, the Subrecipient, after concerted and continuing due diligence, will not be pursuing its original multi -family affordable housing project, the Villas at Richard's Lake; and WHEREAS, the Subrecipient will be releasing back to the City for reallocation through the Competitive Process, the originally allocated HOME funds of $250,000, upon which there was a site -specific condition for expenditure; and WHEREAS, the Subrecipient purposes to continue building approximately six Habitat homes yearly in accordance with the organization's strategic plan; and WHEREAS, the Subrecipient currently has at least four "house sponsors" willing to build homes for Habitat families, and has no inventory of available lots; and WHEREAS, a unique window of opportunity has presented itself, and there are currently potential lots available for purchase by the Subrecipient in several locations; and WHEREAS, the Subrecipient provides affordable homeownership opportunities for families who are below 50% of the Area Median Income (AMI), and whose households often contain special needs members, or single -parent heads -of - households; and WHEREAS, the Subrecipient also purposes to reach a point of "critical mass" in number of Habitat. homes built in Fort Collins, wherein Habitat becomes more self- sustaining and less reliant on outside funding for the purchase of lots; and WHEREAS, the City of Fort Collins, in accordance with its affordable housing policy priorities, wishes to continue assisting organizations such as Habitat for Humanity in the development of affordable housing units; and WHEREAS, the CDBG Commission, on March 10, 2005, did by unanimous vote approve the attached activities as a modification to the Subrecipient's original project, as outlined in the Scope of Services (Exhibit A), and eligible Project Budget (Exhibit C); and WHEREAS, the parties hereto are desirous of modifying the contract with respect to the scope of eligible activities thereunder. NOW, THEREFORE, in consideration of the mutual promises of the parties and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: 1. The project's Scope of Services, Exhibit A, and Project Budget, Exhibit C, shall be modified as included herein; and 2. All terms and conditions remain in effect except as modified by this Amendment. EXHIBIT A SCOPE OF SERVICES 1. Project Description and Objectives. .' the Subreeipiefte will develop twentrfatir (-2 4) affordable townhetne units on land purehased with ftmds awarded funds of$ 250,000 -%411 be used for the land nequisit4en. FkQ31 Mfordable Fund manies of a \ i •, fees,mem infrastruettire). Fort Collins Habitat for Humanity, Inc. ("the Subrecipient") will develop at least nine (9) affordable units on land purchased with funds awarded. FY03°Affordable Housing Fund (AIM monies of $445,500 will be used for the land acquisition. The balance of the funds necessary to produce the housing unit(s) will be provided by the Subrecipient. rDescription.- .. Y_ - _ - _ - _ _ proposed -_-- _ _ at _ _ of is legal es parcels upon whichthe affbrdable units will bebuilt is yet: to be determined. However,. all land acqunred shall be: located within the Fort Collins Community Growth. Management Area boundary. 3. Low and Moderate Income Benefit. The units will be occupied by very low- income households with income equal to or less than 50% of the Area Median Income (AMI) for Fort Collins. Income limits are attached to this document as Exhibit B, and may be amended and updated as necessary. 4. Terms of Loan. The funding awarded to the Subrecipient shall be in the form of a due -on -sale, zero percent (0%) interest loan with a five percent (5%) service fee. The terms & conditions of repayment are specifically outlined in the Promissory Note and corresponding Deed of Trust. 5. Encumbrances Transfer to First Purchaser from Subrecipient as Due -on. Sale Loan. An equitable and proportionate amount of the encumbrance from the original Promissory Note(s) and securing Deed(s) of Trust for funds awarded to the Subrecipient through this Contract shall be transferred to the families purchasing each dwelling unit and meeting the income requirements described herein ("First Purchaser"). 6. Affordability Requirements. The property (or any subsequently developed property required in this paragraph) shall be dedicated to occupancy for a period of not less than twenty years by the First Purchasers. If any First Purchasers subsequently sell or transfer any interest in their property, or in the event that any First Purchasers cease to occupy their property as their primary residence within twenty (20) years from the date of their individual property purchase from the Subrecipient, the Subrecipient shall commence, within two years of the individual First Purchaser's property transfer, construction in the City of a new dwelling unit, which is above and beyond those units already scheduled for construction, and which shall be occupied by a family at or below fifty percent (50%) of Area Median Income (AMI) for the City of Fort Collins, and shall complete construction of such new dwelling unit within three years of the First Purchaser's property transfer. 7. Restrictive Covenants. The City shall be responsible for executing Restrictive Covenants that will ensure that the property will remain affordable without regard to the term of any mortgage or the transfer of ownership for not less than the appropriate term described in the previous paragraph. r Agreement.r Subreeipient and its de-velopmem r shall first be reviewed e Riehards Lake , released.and apprwFed 15y the Gityaf Fort Gollins Ahmnee Planning Department before init4fttierk 8. Contract Administration. Fort Collins Habitat for Humanity, Inc., the Subrecipient, shall be responsible for the administration of this contract. % City Monitoring. The City of -Fort Collins Advance Planning Department will monitor this project. 10. Housing Standards. These units will, at a minimum, meet the HUD's Housing Quality Standards (24 CFR, Section 982.401, incorporated by reference), and all applicable local and state building codes and standards. 11. Environmental Review. The Subrecipient will have HUD -mandated Environmental Reviews conducted and approved prior to the purchase of any land. 12. Due Diligence. The City may require additional due diligence items (e.g., appraisals, property inspections, special reports or studies) for successful project completion and regulatory compliance. The cost for such items may be borne by the Subrecipient. 13. Time of Performance. The Project shall commence upon the full and proper execution of this Contract and shall be completed on or before October 28, 2008. There is no provision for extensions on the Project Time of Performance. In addition, the Subrecipient must show substantial progress towards the completion of the housing units during the Time of Performance. 4 EXHIBIT C PROJECT BUDGET (as amended) Funding Available: $445,500 Affordable Housing Fund (AHF) monies, financed as a 0% interest, due -on -sale loan, with a 5% service fee (encumbrances transferable to the First Purchaser of each developed property). Eligible Costs: The development of at least 9 affordable units with funds awarded. 5 IN WITNESS WHEREOF, the parties have executed this agreement as of the date of the most recent signatory. CITY OF FORT COLLINS A Colorado Municipal Corporation �( Date: 3 - as -OS By. - 0 Darin A eberry, City nag ATTEST: Approved as to Form: Deputy City Attorney FORT COLLINS HABITAT FOR HUMANITY, INC. A Colorado Non-profit Corporation Date: G2� By Title: z ATTEST: w n� Po.#5-5�q�Zq3y LEE MARTINEZ FARM ADDITION TO ADMIN BLbO PROJECT COST SUMMARY MM Seeteld Je1-04 4A1 MkPwMT :COSTS_ -.- - . - SUA9NAJiYOF.ITEMSTYPICALLYOR SPECIFICALLY INCLUDED. SITEPREP&MMO $3234 Demo Md removal -walls Md. watlows, loon fence etc WAVA ION 3,900 eweasatio beekflll fine e CONCRETE. - $9300 foundation, Mahn sLalax n sidewalk FRAMING $9 734 wall a rauf innin ROOFENO $7 48 fooling,wWwpcoohng EXTERIOR SIDING WINDOYMS TRIM 7 27 Sidi td eAerimd H4 aws, clacks, ern HVAC_ O - $2 heading. wntln end Ac TELECOMUNICATION$.:' 34.500 PboneAdatalines ELECTRICAL ' $8 700 "Moo a r li ht fiuu eadals, swftclws, smoksdeDxOors xilM tans ENT WALLS CEILIN -ENSULATION- - $5 ktsulatio tl It ceili illd and ■nel% INT DOO AND TREM $5,807 interiormilMwK doors caning. baseboaw FLOORENG." 13000 oanmio the floors PAENTINfl. $3900 interim&ekWor Painting _ Sis ABLER, M L'ANDSCAPLNG :.. , .'.. 2,OD0 sod, seed plarofirga, automaticsprinkle, add7boln or re in $d 1 800 mare outs • mare ins CL N=UP $SW construellon cleaning SUBTOTAL $80,932 herd oosts CONTRACTOR GEN CONDITIONS $16,188 Including Bldo PemfR CONTRACTOR O1-I & P MIDO 10% SUBTOTAL $105.213 BUDDING CONTINGENCY 10 520 110% FINAL DESIGN & CA 18,0130 1 r stimate FURNITURE NA 1.MMCQ Adan"'mil, furniture rowewend color Posethow, irutsllatim drawings, ordeAno prcdusche&ls and rnanagmerk baW mean15%othardcomsors m lao br, at om SerrioesPMrate PROJECTMANAGEMFN 12150 ASSESTOSILEAD-PAINT TEST 1 200 'mo allayar ce for ha ordous msteaet•re tl GEOTECH TEST AND REPORT 0DO SUBTOTAL 139 088 CONTINGENCY $13,M9 corskueccn cons erc SUSTOT $152 997 ART IN PUB C PLACES 1 0 1% $ 27