HomeMy WebLinkAbout10568RESOLUTION NO. 10568
A RESOLUTION APPROVING AN AMENDMENT TO AN AFFORDABLE HOUSING
DEVELOPMENT AGREEMENT BETWEEN NEIGHBORHOOD HOUSING SERVICES OF
PUEBLO, INC., DOING BUSINESS AS NEIGHBORWORKS OF PUEBLO, AND THE CITY OF
PUEBLO. A MUNICIPAL CORPORATION. FOR AFFORDABLE HOUSING DEVELOPMENT
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Amendment No. 2 dated November 28, 2005, to the Affordable Housing Development
Agreement dated August 14, 2000, between Neighborhood Housing Services of Pueblo, Inc.,
doing business as NeighborWorks of Pueblo, and the City of Pueblo, a Municipal Corporation, (the
"Agreement'), for the development of affordable housing, a copy of which is attached and
incorporated herein, having been approved as to form by the City Attorney, is hereby approved.
SECTION 2.
The President of the City Council is hereby authorized to execute the Agreement in the
name of the City, and the City Clerk is directed to affix the seal of the City thereto and attest the
same.
INTRODUCED November 28, 2005
APPROVED: 1 ;4A Z . • frP
s
BY Michael Occhiato
Councilperson
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # 7
DATE: November 28, 2005
DEPARTMENT: HOUSING AND CITIZEN SERVICES / ADA RIVERA CLARK
TITLE
A RESOLUTION APPROVING AN AMENDMENT TO AN AFFORDABLE
HOUSING DEVELOPMENT AGREEMENT BETWEEN NEIGHBORHOOD
HOUSING SERVICES OF PUEBLO, INC., DOING BUSINESS AS
NEIGHBORWORKS OF PUEBLO, AND THE CITY OF PUEBLO, A MUNICIPAL
CORPORATION, FOR AFFORDABLE HOUSING DEVELOPMENT
ISSUE
A resolution approving an amendment to the Agreement, hereto attached. On
August 14, 2000, the City Council approved an Affordable Housing Development
Agreement between the parties. The Agreement expires on December 31,
2005. The Amendment extends the period for another year.
RECOMMENDATION
Approve the resolution
BACKGROUND
NeighborWorks received HOME funding for the development of the Hyde Park
Gardens Subdivision. This is a mixed - income, 78 unit subdivision. Forty of the
lots are for affordable housing. The properties are to be sold to families at or
below 80% of the area median income. To date 15 lots have been sold and 6 of
these have been to low -to moderate - income families. The funds provided for
land acquisition and on- and off -site infrastructure improvements to the property.
To date 19 new single - family housing permits have been issued in Hyde Park &
Westgate and it is anticipated that the new housing starts in the surrounding
subdivisions will fuel housing interest in the general community.
FINANCIAL IMPACT
There is no financial impact.
AMENDMENT NO. 2 TO
AFFORDABLE HOUSING DEVELOPMENT AGREEMENT
THIS AMENDMENT NO. 2 to Affordable Housing Development Agreement
is made and entered into this 28`" day of November, 2005 by and between the City of Pueblo,
a Municipal Corporation (hereinafter referred to as "City ") and Neighborhood Housing
Services of Pueblo, Inc. doing business as NeighborWorks of Pueblo, (hereinafter referred to
as "Subrecipient ").
WHEREAS, Subrecipient and City have heretofore entered into an Agreement dated
August 14, 2000 (hereinafter "the Agreement ") wherein Subrecipient agreed to construct
affordable housing in accordance with the terms of that Agreement, the City's housing strategy
and the requirements of law, including but not limited to the Home Investment Partnerships
Act, 42 U.S.C. §12701 et sec., and implementing regulations, including but not limited to
those at 24 CFR Part 92; and the Housing and Community Development Act, 42 U.S.C.
§5301 et• seq ., and implementing regulations; and
WHEREAS, Subrecipient has requested an extension of the Agreement's expiration
date; and
WHEREAS, it is necessary and desirable that the Agreement be amended to provide
for the extension of the Agreement's expiration date, subject to all terms and conditions of the
Agreement;
NOW, THEREFORE, in consideration of the foregoing and the mutual terms and
conditions set forth herein, the parties agree as follows:
1. The Agreement is amended by revising paragraph five thereof to state that
Subrecipient shall have completed and sold or cause to have been completed and sold, not less
than forty (40) Program Units by not later than December 31, 2006.
2. Except as expressly modified by this Amendment No. 2, the Agreement shall
remain in full force and effect. Except as expressly modified, any obligations remaining to be
performed under the original Agreement by either party, are not waived or excused in any
manner, but shall be fully performed in accordance with the terms and conditions of the
Agreement as it existed prior to this Amendment No. 2.
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IN WITNESS WHEREOF, Subrecipient and City have executed this Amendment
No. 2 to Affordable Housing Development Agreement as of the date first above written.
ATTEST:
City rk
[SEAL]
And
By: p
Name:
Title:
CITY OF PUEBLO,
A Municipal Corporation
By
Name:
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Title: President of ity Cot
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