HomeMy WebLinkAboutAgreement A-17-390-1 with Habitat for Humanity Fresno, Inc..pdf18-0045 Agreement No. 17-390-1
1 AMENDMENT I TO AGREEMENT NO.17-390
2 THIS AMENDMENT I TO AGREEMENT No. 17-390 ("Amendment I"), is made this 6th
3 day of March , 201·8, by and between the COUNTY OF FRESNO, a political subdivision
4 of the State of California-("County"), and Habitat for Humanity Fresno, Inc., a Domestic Non-profit
5 Corporation ("Borrower").
6, WITNESS ETH
7 WHEREAS, the County has been designated as a participating jurisdiction to administer
8 and implement the Federal HOME Investment Partnerships (HOME) Program activities of the
9 County in accordance with the Federal HOME regulations, and the laws of the State of
10 California.; and
11 WHEREAS, Federal HOME regulations require the County set aside a minimum of
12 fifteen percent (15%) of the CoLJnty's annual HOME allocation for eligible housing activities that
13 will be owned, developed or sponsored by a qualified Community Housing Development
14 Organization (CHOO); and
15 WHEREAS, the County has determined that the Borrower has met the requirements for
· 16 designation as a County-certified CHOO; and
17 WHEREAS, on July 11, 2017, the County and the Borrower entered into Agreement
18 No. 17-390 ("Agreement"), whereby $390,000 in HOME set aside funds were made available to
19 the Borrower for the Habitat Riverdale Development Project (the "Project"); and
20 WHEREAS, the total preliminary Project budget estimate has increased from $478,000 to
21 $482,562.40 due to increased construction costs; and
22 WHEREAS, the County now has an additional $4,562.40 of its HOME loan funds set
23 aside for eligible housing activities that will be owned, developed or sponsored by a qualified
24 CHOO that may be used for this Project; and
25 WHEREAS, the Borrower, a County-certified CHOO, and the developer of the Project,
26 has requested to increase the previously approved HOME Program loan by an additional
27 $4,562.40, bringing the total HOME loan balance to $394,562.40, to assist with the construction
28 of two single family residences for low-income families in Riverdale, California, an
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unincorporated area of the County of Fresno, which will be restricted and affordable to very low
and low-income persons.
NOW THEREFORE, the County and Borrower agree to amend the Agreement as follows:
1. All references in the Agreement to the sum of “Three Hundred Ninety Thousand
Dollars” and/or “$390,000” are hereby deleted and replaced with the following:
"Three Hundred Ninety-Four Thousand Five Hundred Sixty-Two Dollars and Forty
Cents” and/or “$394,562.40".
2. All references in the Agreement to the sum of “Four Hundred Seventy Eight
Thousand Dollars” and/or “$478,000” are hereby deleted and replaced with the
following:
“Four Hundred Eighty Two Thousand Five Hundred Sixty Two Dollars and Forty
Cents” and/or “$482,562.40”.
3. Attachments A and C to the Agreement are hereby replaced with Revised
Attachment A and Revised Attachment C, respectively, both of which are attached
hereto and incorporated herein by reference.
All remaining provisions, terms, covenants, conditions, and promises contained in said
Agreement dated July 11, 2017 shall remain in full force and effect.
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1 IN WITNESS WHEREOF, the parties have executed this Amendment I on the date set forth
2 above.
3
HABITAT FOR HUMANITY FRESNO, INC.
4 a Domestic Non-Profit Corporation
5
6 By: __ r.-+-1------------=--
Ma ~rundy, Executive Director/CEO
7
-8
Date:__._{ ...:....I _I t----l--'{ <___,'t>""---------
Date: _ ___;;__J,j'--',.....!14 /....::.1=1" ______ _
FUND NO: 0001
SUBCLASS NO: 10000
ORG NO: 55122008
ACCOUNT NO: 7295
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G:\7205CorrOev\-Agendas-Agreements\201810306_AmendlHabitatRiverdale_AGT.docx
January 12, 2018
3
COUNTY OF FRESNO
lo ~ 1'8" I .
ATTEST:
Bernice E. Seidel
Clerk to the· Board of Supervisors
County of Fresno, State of California
By:~~~
Deputy
REMIT TO:
Habitat for Humanity Fresno, Inc.
Attention: Executive Director/CEO
4991 E. McKinley, Suite 123
Fresno, CA 93727
Telephone: (559) 237-4102
REVISED ATTACHMENT A
Sources and Uses of Funds are anticipated as follows:
1. County of Fresno (HOME Loan Funds) $394,562.40
2. Self-Help Enterprises (Loan) 60,000.00
3. Habitat for Humanity Fresno, Inc. 28,000.00
Total Sources $482,562.40
Uses of Funds:
1. Land Cost $60,000.00
2. Construction Cost $422,562.40
Total Project Cost $482,562.40
REVISED ATTACHMENT C
Project Disbursement Schedule
Draw
No. Percentage of Funds Date of
Disbursement
Maximum
Amount
Disbursed
Amount
Remaining
1. Deposit at escrow N/A $0 $394,562.40
2. First construction draw By April 2018 $75,000.00 $319,562.40
3. Second construction draw By June 2018 $75,000.00 $244,562.40
4. Third construction draw By August 2018 $75,000.00 $169,562.40
5. Fourth construction draw By October 2018 $75,000.00 $94,562.40
6. Final construction draw By November
2018 $94,562.40 $0
Total Amounts $394,562.40 $0