HomeMy WebLinkAboutC2005-234 - 4/26/2005 - Approved AFFORDABLE HOUSING PROGRAM AGREEMENT
CITY OF CORPUS CHRISTI
HOMEBUYER ASSISTANCE PROGRAM -EXISTING HOMES
This Affordable Housing Program Agreement ("Program Agreement") is entered into between the
Corpus Christi Business and Job Development Corporation ("Corporation") and the City of Corpus
Christi ("City") a Texas home rule municipality.
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vemon's Texas Revised Civil
Statutes (Development Corporation Act of 1979) empowered local communities with the ability to
adopt an optional local sales and use tax as a means of impreving the economic health and
prosperity of their citizens;
WHEREAS, on November 5, 2002, residents of the City of Corpus Christi passed Proposition 2,
New and Expanded Business Enterprises, which authorized the adoption of a sales and use tax for
the promotion and development of new and expanded business enterprises at the rate of one-eighth
of one percent to be imposed for 15 years;
WHEREAS, in the same election, the residents of the City passed Proposition 2B, Affordable
Housing, which authorized the use of a portion of the sales and use tax approved under Proposition 2
for affordable housing, up to $500,000 annually, so long as there are projects for which the amount
can reasonably be used;
WHEREAS, the 1/8 cent sales tax authorized by passage of Preposition 2 and allocated under
Proposition 2B for affordable housing was subsequently enacted by the City's City Council ("City
Council") and filed with the State Comptroller of Texas, effective Apdl 1,2003, to be administered by
the Corporation's Board of Directors ("Board");
WHEREAS, the Board issued a request for proposals for affordable housing projects;
WHEREAS, the City through its Neighborhood Services Department manages several programs
to assist eligible citizens in purchase of affordable housing;
WHEREAS, the City submitted a proposal to the Board to request grant funds for a forgivable
loan program, to be combined with the funds currently provided under a City program funded by the
HOME Investment Partnerships Act of 1990, 42 U.S.C. §§12701 et. seq, ("City HOME program"), to
provide homebuyer assistance funds to eligible homebuyers;
WHEREAS, the Board has determined that it is in the best interests of the residents of the City of
Corpus Chdsti that the City be awarded affordable housing funds, by execution of this Program
Agreement, to accomplish the affordable housing project described in this agreement and in the City's
proposal
In consideration of the covenants, promises, and conditions stated in this Program Agreement,
the Corporation and the City agree as follows:
1. Program Agreement to Implement Affordable Housing Project. This Pregram Agreement
between the Corporation and the City is executed to implement the promotion and development of an
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affordable housing project proposed by the City in response to the Board's request for proposals
("Project Response"). The Project Response submitted by the City titled "Project: $3,000
Homebuyer Assistance" ("Project") is attached to this Program Agreement as Exhibit C and is
incorporated in this Program Agreement by reference.
2. Effective Date. The effective date of this Program Agreement is the date on which the City
Council grants approval to the Corporation for this Project, so long as all parties have executed this
Program Agreement.
3. Term. The term of this Program Agreement extends twelve (12) months from the date the last
party executes this document.
4. Services to be Provided by City.
a. The City, through the City's City Manager or his designee ("City Manager"), shall
administer funding and perform contract administration responsibilities, as outlined in this
Program Agreement, for the Corporation.
b. Eligible homebuyer ("Homebuyer") may apply to the City through the City's Homebuyer
Assistance Program to receive a forgivable loan of up to $2,500 of the funds provided under
this Program Agreement for down payment and closing costs to pumhase single-family
owner-occupied home described in this section. Said home must meet the guidelines and
cdteda outlined in the Corporation's Request for Proposals for Affordable Housing. Said
home must also must meet definition of "affordable housing" found in Title 42 of the United
States Code, Section 12745, in accordance with the requirement in the Texas Development
Corporation Act of 1979.
c. The funds provided under this agreement to Homebuyer shall be combined with $2,500
in City federally funded HOME program funds for a total assistance of $5,000 in the form of a
0% deferred forgivable loan.
d. For each year that the Homebuyer occupies the home as his or her primary residence,
one thousand dollars of the loan shall be forgiven. The City shall require Homebuyers who
receive the funds provided under this Program Agreement to execute the Real Estate Note
and Deed of Trust attached as Exhibits A and B to secure repayment of outstanding loan
amount to Corporation in the event the home is sold or transferred and an outstanding loan
amount is due. The City shall file the odginal executed documents in the official public
records of Nueces County. After recording, the City must ensure that the odginal executed
and filed documents are returned to the Corporation. The Director may authorize
modifications to Exhibits A and B to accomplish purpose of this Program Agreement.
e. Pdor to the distribution of funds provided under this Program Agreement, the Director of
the City's Neighborhood Services Department or the DirectoCs designee ("Director") shall
review the anticipated purchase transection as it pertains to eligibility, location and amount.
The Director shall confirm execution of the documents attached as Exhibits A and B prior to
release of funds.
f. The City shall provide homebuyership counseling to all qualified Homebuyers of homes
purchased with funds provided under this Program Agreement.
g. The City shall recruit potential homebuyers for affordable housing ownership pursuant
to this Program Agreement. The Director of shall ensure that each potential homebuyer's
family qualifies as a Iow-to-moderate income family in accordance with Federal, State and
City housing laws, rules, and regulations.
5. Payment of Funds.
The Corporation authorizes the City to grant, from allocated sales tax revenues, up to
$107,000 for down payment and closing costs for eligible homebuyers pursuant to this
Program Agreement. Eligible homebuyers may qualify for a zero percent forgivable loan of
funds provided under this Program Agreement up to maximum of $2,500.
Any funds provided by the Corporation under the provisions of this Program Agreement are
subject to the receipt of sales taxes, by the City, from the Office of the Comptroller of the
State of Texas and payment of the sales taxes to the Corporation by the City.
Payment of the funds will be made by the City directly to the title company involved in the
closing transaction. Supporting documentation, such as closing and settlement forms, must
be provided to the City Director prior to processing a request for loan.
6. Documentation and Reports.
The City shall maintain all documentation relating to the receipt and expenditure of the funds
provided under this Program Agreement for a pedod of three years following the expiration of
this Program Agreement or for such longer period as may be required by federal or State law.
Additionally, the City shall keep records that document the provision and extent of home-
buyer counseling that was provided to each qualified homebuyer. Each counseling record
must be signed by the homebuyers and the City upon the completion of counseling.
The City shall provide access to all records, documents, reports, and audits, regarding the
funded activity under this Program Agreement, dudng regular business hours, for the purpose
of inspection and copying by the Corporation's designee.
Director shall submit a performance report ("Report") to the Corporation at least once each
quarter and a final Report within 30 days of the expiration of this Program Agreement. The
Report must contain all relevant details pertaining to home purchases and include any
supporting documentation required to substantiate the wdtten narrative contained in the
Report.
7. Amendments or Modifications. No amendments or modifications to this Program Agreement
may be made, nor any provision waived, unless the amendment or modification is made in wdting
and signed by persons duly authorized to sign agreements on behalf of all parties.
8. Severablllty.
If for any reason, any section, paragraph, subdivision, clause, provision, phrase or word of
this Program Agreement or the application of this Program Agreement to any person or
circumstance is, to any extent, held illegal, invalid, or un-enforceable under present or future
law or by a final judgment of a court of competent jurisdiction, then the remainder of this
Program Agreement, or the application of the term or provision to persons or circumstances
other than those as to which it is held illegal, invalid, or unenforceable, will not be affected by
the law or judgment, for it is the definite intent of the parties to this Program Agreement that
every section, paragraph, subdivision, clause, provision, phrase, and word of this Program
Agreement be given full force and effect for its purpose.
To the extent that any clause or provision is held illegal, invalid, or unenforceable under
present or future law effective dudng the term of this Program Agreement, then the remainder
of this Program Agreement is not affected by the law, and in lieu of any illegal, invalid, or
unenforceable clause or provision, a clause or provision, as similar in terms to the illegal,
invalid, or unenforceable clause or provision as may be possible and be legal, valid, and
enforceable, will be added to this Program Agreement automatically.
9. Compliance with Laws. The parties shall comply with all applicable federal, State, and local
govemment laws, rules, regulations, and ordinances which may be relevant to performance under
this Program Agreement.
10. JurisdictJon and Venue.
a. This Program Agreement will be governed by and construed in accordance with the laws of
the State of Texas.
b. All actions brought to enfome compliance with this Program Agreement must be brought in
Nueces County, Texas, where this Program Agreement was entered into and must be
performed.
11. Acknowledgment and Construction of Ambiguities. The parties expressly agree that each
has independently read and does understand this Program Agreement and each party agrees to be
bound by the terms, covenants, and conditions contained in this Program Agreement. Any
ambiguities in this Program Agreement may not be construed against the drafter.
12. Warranties. The City warrants and represents to Corporation the following:
a. The City has the authority to enter into and perform, and will perform, the terms of this
Program Agreement.
c. The City has timely filed and will timely file all local, State, and Federal tax reports and
returns required by law to be filed and all taxes, assessments, fees. and other govemmental
charges, including applicable ad valorem taxes, have been timely paid, and will be timely paid,
during the term of this Program Agreement.
d. The City has received a copy of the Texas Development Corporation Act of 1979, Art.
5190.6, Vemon's Texas Revised Civil Statutes, and acknowledges that the funds granted in
this Program Agreement must be utilized solely for purposes authorized under State law and
by the terms of this Program Agreement.
e. If an audit determines that the funds were not used for authorized purposes, the City agrees
to reimburse Corporation for the sums of money spent for purposes not authorized by law
within 30 days wdtten notice requesting reimbursement..
f. The parties executing this Program Agreement on behalf of the City are duly authorized to
execute this Program Agreement.
13. No Waiver.
a. No waiver of any covenant or condition, or the breach of any covenant or condition of this
Program Agreement, constitutes a waiver of any subsequent breach of the covenant or
condition of the Program Agreement.
b. No waiver of any covenant or condition, or the breach of any covenant or condition of this
Program Agreement, justifies or authorizes the nonobservance on any other occasion of the
covenant or condition or any other covenant or condition of this Program Agreement.
c. Any waiver or indulgence of default may not be considered an estoppel against the
Corporation.
d. It is expressly understood that if at any time the City is in default in any of its conditions or
covenants of this Program Agreement, the failure on the part of the Corporation to promptly
avail itself of the dghts and remedies that the Corporation may have, will not be considered a
waiver on the part of the Corporation, but Corporation may at any time avail itself of the dghts
or remedies or elect to terminate this Program Agreement on account of the default.
14. Notices.
a. Any required written notices shall be sent, certified mail, return receipt requested,
addressed as follows:
If to Corporation:
City of Corpus Chdsti Business and Job Development Corporation
Attn: Executive Director
1201 Leopard Street
Corpus Christi, Texas 78401
If to City:
City of Corpus Christi
Attn.: Director of Neighborhood Services Department
P.O. Box 9277
Corpus Chdsti, Texas 78469-9277
City of Corpus Christi
Attn.: City Manager
P.O. Box 9277
Corpus Chdsti, Texas 78469-9277
c. Notice is effective upon deposit in the United States mail in the manner provided above.
15. Incorporation of other documents.
The Corpus Chdsti Business & Job Development Corporation 4a Board Affordable Housing
Request for Proposals issued October 22, 2004 are incorporated into this Program Agreement.
16. Relationship of Parties. In performing this Program Agreement, the Corporation and the City
shall act in an individual capacity, and not as agents, representatives, employees, employers,
partners, joint-venturers, or associates of one another. The employees or agents of either party may
not be, nor be construed to be, the employees or agents of the other party for any purpose.
17. Nonassignment. This Program Agreement may not be assigned, mortgaged, pledged, or
transferred without the prior written consent of the other parties to this Program Agreement.
18. Non-discrimination. The City may not discriminate nor permit discrimination against any person
or group of persons on the grounds of race, gender, disability, religion, age, or national odgin in any
manner prohibited by the laws of the United States or the State of Texas.
19. Captions. The captions in this Program Agreement are for convenience only and are not a part
of this Program Agreement. The captions do not in any way limit or amplify the terms and provisions
of this Program Agreement.
20. Entire Agreement. This Program Agreement and the referenced and incorporated documents
constitute the entire agreement between the Corporation and the City for the purpose stated. All
other agreements, promises, representations, and understandings, oral or otherwise, with reference
to the subject matter of this Program Agreement, unless contained in this Program Agreement, are
expressly revoked, as the parties intended to provide for a complete understanding, within the
provisions of this Program Agreement and its referenced and incorporated documents, of the terms,
conditions, promises, and covenants relating to the each party's required performance under this
Program Agreement.
CORPUS CHRISTI BUSINESS &
JOB DEVELOPMENT CORPORATION
Printed name:
Date:
ACKNOWLEDGMENT
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF NUECES §
~ ~~HUERTA ~the ('.~,~~ ([itle)oftheCorpusChristiBusiness
and Job ~nt C~, a T~s nonprofit ~r~tion, on ~haff of the ~r~ration.
~ ~.~I STATE OF T~S ~ '~ ,[ /~- ~ _
(~e~l~ .......... ' NOTARY PUBLIC, S~e of Texas
ATTEST:
Armando L;hapa (
City Secretary
Date: J//%' -//' J'
C I'T'Y,~S CHRISTI
Geerge,J~ Noe
City Manager
Date:
APPROVED AS TO FORM:
Lisa Aguilar /~)
Assistant City Affomey
for the City Attorney
Date:
Maker:
Maker's Address:
EXHIBIT A
REAL ESTATE NOTE
Payee: CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION
c/o City of Corpus Christi, Economic Development Qffice, P. O. Box 9277, Corpus Chdsti,
Nueces County, Texas, 78469
Principal Amount:
Annual Interest Rate on unpaid principal from date of funding: Zero percent (0%)
Term of this Note shall be 1 year if the note amount ranges $1,000 to $1,999; two years if the
note amount ranges $2,000 to $2,999; 3 years if the amount of loan ranges from $3,000 to $3,999; 4
years of the amount of loan ranges from $4,000 to $4,999; and 5 years if amount of loan is $5,000.
Terms of payment:
This Note shall be due and payable in approximately (__) monthly
installments, each being in the amount of of the principal amount set forth above, The
first of said monthly installments being due and payable on the date of closing, and the remaining
installments shall be due in consecutive order thereafter on the same day of each and every
succeeding month.
Provided, however, that for each month Maker occupies the property described herein as
Maker's principal residence during the term of this note, the monthly installment due herein shall be
waived and forgiven by payee, and Maker shall not be required to pay such monthly installment.
The term "principal residence" means a dwelling which, depending on all of the facts and
circumstances, including the good faith intent of the occupant, is occupied primarily for residential
purposes by the owner.
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Default in the payment of any part of the principal, when due, or failure to comply with any or
the agreements and conditions in any and all instruments given to secure this note including, without
limitation any default under the terms and provisions of the Real Estate Note, shall at the option of the
holder hereof, at once mature the whole of this note, without notice.
In the event this note is placed into the hands of an attorney for collection, or if collected
through Probate or Bankruptcy proceedings, then an additional ten percent (10%) on the amount of
principal and interest then owing hereon, shall be added to the same as reasonable and necessary
attorney's fees in addition to court costs.
The makers and all endorsers, sureties and guarantors of this note hereby severally waive
presentment for payment, notice of non-payment, notice of intent to accelerate, notice of acceleration,
protest and diligence in bringing suit, against any party hereto, and consent that the time of payment
of this note, or any part thereof, may be extended without notice.
Each maker is responsible for the entire amount of this note.
This note is secured by Deed of Trust covering the following described property situated in
Nueces County, Texas, to wit:
MAKERS
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EXHIBIT B
DEED OF TRUST
Date:
Grantor:
Grantor's Mailing Address (including county):
Corpus Christi, Nueces County, Texas 784
Trustee: Mary Kay Fischer, City Attorney, 1201 Leopard Street, Corpus Christi, Texas 78401
Beneficiary: Corpus Christi Business and Job Development Corporation
Beneficiary's Mailing Address (including county):
P.O Box 9277
Corpus Chdsti, Nueces County, TX 78469
Note(s): That note of even date herewith executed by Maker payable to the order of Beneficiary and
described as follows:
Date:
Amount;
Maker:
Payee:
Final Maturity Date: Due upon earliest of following events:
Grantor(s) cease to occupy properly as principal residence.
Term,, of Payment: As therein provided
Property (including any improvements):
Corpus Christi Business and Job Development Corporation
(1) sale or transfer of property, or (2)
Prior Lien(s)(including recording information):
For value received and to secure payment of the note, Grantor conveys the property to Trustee in trust.
Grantor warrants and agrees to defend the title to the property. If Grantor performs all the covenants and pays
the note according to its terms, this deed of trust shall have no further effect, and Beneficiary shall release it at
Grantor's expense.
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GRANTOR'S OBLIGATIONS
Grantor agrees to:
1. keep the property in good repair and condition;
2. pay all taxes and assessments on the property when due;
3. preserve the lien's priority as it is established in this deed of trust;
4. maintain, in a form acceptable to Beneficiary, an insurance policy that;
a. covers all improvements for their full insurable value as determined when the policy is issued and
renewed, unless Beneficiary approves a small amount in writing.;
contains an 80% coinsurance clause;
c. provides fire and extended coverage, including windstorm coverage;
d. protects Beneficiary with a standard mortgage clause;
e. provides flood insurance at any time the property is in a flood hazard area; and
f. contains such other coverage as Beneficiary may reasonably require;
5. comply at all times with the requirements of the 80% coinsurance clause;
6. deliver the insurance policy to Beneficiary and deliver renewals to Beneficiary at least ten days before
expiration;
7. keep any buildings occupied as required by the insurance policy; and
8. if this is not a first lien, pay all prior lien notes that Grantor is personally liable to pay and abide by all
prior lien instruments.
9. Principal residence requirement: Grantor agrees to occupy the property described herein as Grantor's
principal residence. As used herein, "principal residence" means a home which, depending upon all of the
facts and circumstances (including the good faith of the occupant) is occupied primarily for residential purposes
by Grantor. The term does not include a home used as an investment property or a recreational home or a
home which is used primarily in a trade or business (as evidenced by the use of more than fifteen percent
[15%] of the total floor space in a trade or business). Grantor agrees to submit annual recertification, in a form
prescribed by Beneficiary, to the Beneficiary to evidence Grantor's occupancy in accordance with the
provisions hereof. Grantor further agrees to notify Beneficiary immediately if at any time the property ceases to
be used as GrantoCs principal residence.
10. Due on Sale Requirement. If Grantor conveys or contracts to convey the property, or any interest therein,
to a party or parties not appearing in this instrument without the written consent of Beneficiary, then
Beneficiary, at its election exercised at any time after such event without notice to Grantor, may declare the
entire indebtedness secured hereby at once due and payable.
BENEFICIARY'S RIGHTS
1. Beneficiary may appoint in writing a substitute or successor trustee, succeeding to all dghts and
responsibilities of Trustee.
2. If the proceeds of the note are used to pay any debt secured by prior liens, Beneficiary is subrogated to
all of the rights and liens of the holders of any debt so paid.
3. Beneficiary may apply any proceeds received under the insurance policy either to reduce the note or to
repair or replace damaged or destroyed improvements covered by the policy.
4. If Grantor fails to per-form any of Grantor's obligations, Beneficiary may perform those obligations and
be reimbursed by Grantor on demand at the place where the note is payable for any sums so paid, including
attorney's fees, plus interest on those sums from the dates of payment at the rate stated in the note for
matured, unpaid amounts. The sum to be reimbursed shall be secured by this deed of trust.
5. If Grantor defaults on the note or fails to perform any of Grantor's obligations or if default occurs on a
prior lien note or other instrument, Beneficiary may:
a. declare the unpaid principal balance and earned interest on the note immediately due;
request Trustee to foreclose this lien, in which case Beneficiary or Beneficiary's agent shall give notice
of the foreclosure sale as provided by the Texas Property Code as then amended; and
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c. purchase the property at any foreclosure sale by offering the highest bid and then have the bid credited
on the note.
6. If Grantor conveys or contracts to convey the property covered hereby, or any interest in the property
covered hereby, including a leasehold interest, to a party or parties not appearing in this instrument without the
wdtten consent thereto of Beneficiary, then Beneficiary, at its election exercised any time after such event and
without notice to Grantor, may declare the entire indebtedness secured hereby at once due and payable.
Trustee's Duties:
If requested by Beneficiary to foreclose this lien, Trustee shall:
1. either personally or by agent give notice of the foreclosure sale as required by the Texas Property Code
as then amended:
2. sell and convey all or part of the property to the highest bidder for cash with a general warranty binding
Grantor, subject to pnor liens and to other exceptions to conveyance and warranty; and
3. from the proceeds of the sale, pay, in this order:
a expenses of foreclosure, including a commission to Trustee of 5% of the bid;
b. to Beneficiary, the full amount of principle, interest, attorney's fees, and other charges due to unpaid;
c. any amounts required by law to be paid before payment to Grantor; and
d. to Grantor, any balance.
General Provisions
1. If any of the property is sold under this deed of trust; Grantor shall immediately surrender possession to
the purchaser. If Grantor fails to do so, Grantor shall become a tenant at sufferance of the purchaser, subject
to an action for forcible detainer.
2. Recitals in any Trustee's deed conveying the property will be presumed to be true.
3. Proceedings under this deed of trust, filing suit for foreclosure, or pursuing any other remedy will not
constitute an election of remedies.
4. This lien shall remain superior to liens later created even if the time of payment of all or part of the note
is extended or part of the property is released.
5. If any portion of the note cannot be lawfully secured by this deed of trust, payments shall be applied
first to discharge that portion.
6. Grantor assigns to Beneficiary all sums payable to or received by Grantor from condemnation of all or
part of the property, from pdvate sale in lieu of condemnation, and from damages caused by public works or
construction on or near the property. After deducting any expenses incurred, including a~orney's fees,
Beneficiary may release any remaining sums to Grantor or apply such sums to reduce the note. Beneficiary
shall not be liable for failure to collect or to exercise diligence in collecting any such sums.
7. Grantor assigns to Beneficiary absolutely, not only as collateral, all present and future rent and other
income and receipts from the property. Leases are not assigned. Grantor warrants the validity and
enforceability of the assignment. Grantor may as Beneficiary's licensee collect rent and other income and
receipts as long as Grantor is not in default under the note or this deed of trust. Grantor will apply all rent and
other income and receipts to payment of the note and performance of this deed of trust, but if the rent and
other income and receipts exceed the amount due under the note and deed of trust, Grantor may retain the
excess. If Grantor defaults in payment of the note or performance of this deed of trust, Beneficiary may
terminate Grantor's license to collect and then as Grantor's agent may rent the property if it is vacant and
collect all rent and other income and receipts. Beneficiary neither has nor assumes any obligations as lessor
or landlord with respect to any occupant of the property. Beneficiary may exercise Beneficiary's rights and
remedies under this paragraph without taking possession of the property. Beneficiary shall apply all rent and
other income and receipts collected under this paragraph first to expenses incurred in exercising Beneficiary's
dghts and remedies and then to Grantor's obligations under the note and this deed of trust in the order
determined by Beneficiary. Beneficiary is not required to act under this paragraph, and acting under this
paragraph does not waive any of Beneficiary's other rights or remedies. If Grantor becomes a voluntary or
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involuntary bankrupt, Beneficiary's filing a proof of claim in bankruptcy will be tantamount to the appointment of
a receiver under Texas law.
8. Interest on the debt secured by this deed of trust shall not exceed the maximum amount of nonusudous
interest that may be contracted for, taken, reserved, charged, or received under law; any interest in excess of
that maximum amount shall be credited on the principal of the debt or, if that has been paid, refunded. On any
acceleration or required or pen'~itted prepayment, any such excess shall be canceled automatically as of the
acceleration or prepayment or, if already paid, credited on the principal of the debt or, if the principal of the
debt has been paid, refunded. This provision overrides other provisions in this and all other instruments
concerning the debt,
9. In the event the property described herein is subject to prior liens in favor of third parties, any default
under any prior lien instrument shall be a default hereunder.
10. When the context requires, singular nouns and pronouns include the plural.
11. The term note includes all sums secured by this deed of trust.
12. This deed of trust shall bind, inure to the benefit of, and be exercised by successors in interest of all
parties.
13. The note secured hereby evidences funds advanced for a portion of the purchase pdce of the property
described above and is additionally secured by a vendor's lien on same.
14. Upon the sale, rent, or change of ownership of the herein described property for any reasons or by any
means or upon the death of the Makers of the Real Estate Note(s) secured hereby, the entire principal and
appropriate interest of the Real Estate Note(s) shall immediately become due and payable without notice or
presentment of any kind including, without limitations, notice of intent to accelerate and notice of acceleration.
The Executive Director of the Corpus Christi Business and Job Development Corporation may waive this
requirement upon the written request of the Makers of the Real Estate Note(s) or their heirs, or successors and
assigns. Should the property no longer become the primary residence or should there be a change of use, the
entire principal and appropriate interest shall immediately become due and payable without notice or
presentment of any kind including, without limitations, notice of intent to accelerate and notice of acceleration.
Witness our hands this day of
,2005 A.D.
Name;
Name:
STATE OF TEXAS
COUNTY OFNUECES
This instrument was acknowledged before me on the day of 2005, by
Notary Public, StateofTexas
STATE OF TEXAS
COUNTY OFNUECES
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]'his instrument was acknowledged before me on the day of 2005, by
Notary Public, State of Texas
AFTER RECORDING RETURN TO:
Corpus Christi Business and Job Development Corporation
c/o City of Corpus Chdsti Economic Development Office
P. O. Box 9277
Corpus Christi, Texas 78469
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Submitted By:
City of Corpus Christi
NEIGHBORHOOD SERVICES DEPARTMENT
Project: $3,000 Homebuyer Assistance
LETTER OF TRANSMITTAL
January 26, 2005
City Secretary Office
City of Corpus Christi
Attention: Armando Chapa, City Secretary
1201 Leopard
Corpus Christi, TX 78469-9277
Dear Mr. Chapa:
Enclosed is the City of Corpus Christi, Neighborhood Services Department's
2004 proposal in the amount of $100,000 regarding the 4a Board's Affordable
Housing Programs for consideration and funding. We have reviewed the
proposal requirements and we are submitting the proposal documents. You may
contact me at 880-3045 regarding this proposal.
We look forward to working with the 4a Board's Affordable Housing Program.
Sincerely, /
Jon Wagner, Acting Director
QUALIFICATIONS & EXPERIENCE
General
The City of Corpus Christi through the Neighborhood Services Department
(NSD) is applying for $100,000 through the 4a Board Affordable Housing
Program. it is our desire to continue to assist in the development of affordable
housing units by expanding the number of affordable housing units in the City of
Corpus Christi. Neighborhood Services Department is the main entity that has
carried the responsibility of developing and promoting affordable housing in the
City of Corpus Christi for Iow income and very iow income families for the last 27
years.
Qualifications & Experience
Neighborhood Services Department has extensive experience managing and
administrating housing programs for iow income families. NSD has worked with
new construction and rehabilitation programs for the last 27 years and has
assisted over a thousand homeowners and homebuyers with their housing
needs. The programs administered by NSD are monitored by HUD, and are
found to be managed within approved program guidelines.
NSD has a staff that is highly qualified and experienced in managing housing
programs. The team that will be managing the 4a Board Affordable Housing
Program has over 27 years experience administering housing programs that
assist Iow income families.
Currently, this team manages a $3,000 Homebuyer Assistance Program and a
New Construction Homebuyer Program. Additionally, this team manages a
Rehabilitation Loan Program, Demolition and Replacement Loan Program and
an Emergency Home Repair Grant Program. Through these programs
approximately 500 families are assisted on an annual basis.
Neighborhood Services Department also has played an integral role in assisting
other community organizations in developing their capacity to provide affordable
housing. NSD created and provides support staff for the Corpus Christi
Community Development Corporation (CDC) which was established to provide
and assist in creating affordable housing. NSD also was instrumental in assisting
Nueces County Community Action Agency with establishing their homebuyer
programs.
CAPABILITES STATEMENT
Neighborhood Services Department (NSD) has administered and managed
various housing programs including homebuyer programs. During the last 26
years NSD has assisted over one thousand families through its various
programs. Throughout these years NSD has provided assistance in
rehabilitation, emergency repairs, and home buying and is highly adapt at
working with Iow income households, realtors, builders and lenders.
NSD is responsible for managing and administering the funds the City of Corpus
Christi receives from the Department of Housing and Urban Development.
During the past 26 years NSD has received an average of 5 million dollars per
year to carry out various housing programs and assist community non profit
organizations with their facility needs. NSD staff has shown they are capable of
managing HUD funds and following federal regulations.
ACKNOWLEDGEMENT
This is to acknowledge that we have reviewed all the provisions of the request for
proposal and further certify we will comply with all its requirements.
jori Wag no r, Acting ~c[o[~r / ~at~e~- ~¢;~'~
LEVEL OF ASSISTANCE
Project Scope:
Leveraging:
Neighborhood Services Department is requesting
$100,000 in the form of a grant and proposes to
provide $1,500 in 4a funds as a match to its current
$3,000 Homebuyer Assistance Program. The $1,500
ir~ 4a funds will be combined with $1,500 in HOME
funds for a total assistance of $3,000. The $3,000 will
be provided in the form of a Deferred Forgivable Loan
that will be used by the homebuyer for closing costs
and down payment assistance in the purchase of a
single-family house.
NSD plans to leverage 4a funds with HUD Home
Program funds. NSD receives an average of
$450,000 through this homebuyer program and
assists approximately 150 homebuyers. The 4a funds
will a~low us to assist more persons with the purchase
of a house.
Number Assisted:
Time Frame:
Neighborhood Services Department anticipates being
able to assist approximately 66 more families should it
receive $100,000 in 4a funds.
NSD anticipates carrying out this Program withir~ a
one year period in conjunction with its existing $3,000
Homebuyer Program.
04NSD4aPmposal