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Home My WebLink AboutC2007-468 - 12/11/2007 - Approved~~ND I~IENDIENT T~ TH E A~~~RDABLE H~UIN PR~R~11'~ AGREEMENT ~~R A PiL~T i~1~~LL H~USlN PR~JET This second ar~endrnent ~"Second Amendment"} to the Affordable Housing Prograrn A reernentfora Pilot lnfill Housing Project ~{`Program Agreement"} is made byand g between the corpus Christi Business and fob Developr~ent orporat~on "for oration" , the fit of corpus Christi ~"pity"~, and the t~ueces bounty community ~ p ~ Y Action A enc {`NAA" , ~ non~profitcorporation organised underthe statutes of the ~ y~ ~ State of Texas. I~VH~REA the for oration, pity and hiAA executed an agreement ~"Agreement}'} p for the ur ose of utilizing ~A sales tax funds to construct ~r~fill housing, project pp uitabie forthe romotion and development of affordeble housing within the City; p INHFREAS, the term of the Agreement should be extended an additional two years. N~VI~, THEREFORE, the parties to the Agreement agree to amend the Agreement as follows: eo~ion ~ . Section of the Agreement entitied "Term" is deleted in its entirety ar~d is replaced with the following language: ~~ECTlo1V . TERM. "The term of this Program Agreement extends until Nover~ber 1 g, ~Og," Section ~. Section 5 of the Agreement entitled ;tServices to be Provided by NCCAA" subsection a is amended to read as follows: "ETIN . Services to be Provided by NC~4A. "~. The NCCAA shall acquire, in the NCCAA's name only, parcels of real yE~r~fyror~~~,yJ'ert within developed neighborhoods ~"lots"}, within an area bounded as 1 ! ~ i follows: be innin at the intersection of Carver Drive and Tarlton Street then east aloe Tarlton Street to EI in Street then south alon EI in Street to l~awton Street then west aloe Lawton Street to ~IJashin ton Street then north alon llvashin tan Street to Soledad Street then east aloe Soledd Street to Darver Drive then north aloe Carver Drive to its intersection with Tarlton Street as - de icted on the ma attached as Exhibit "A " vent ma the funds ravided under this Program Agreement b ut~iized to In no e y p urchase are other parcels of real property without the NCCAA obtaining the:.. - p y nrEnr Puri#t~n ark novel of the Cit and the arporation." - p Y - ~0~7-4G~ - Res, ~~73~ ~~~~ ~~~~ dment-Aff~rd~bl~Housinglnfill2n~ Q~1~3~ ,d~c NAA~ ~ ~ - Page ~ ~f 4 ~-- ~. Leo#ion 3. section ;:Fa~ment of Fund" subsection f is ar~ended to read a follows: "ECT~~N ~,Pyrnent of Funds. "f. the NAA shall secure far the corporation the recapture of !ot acquisition casts, down payments, and closing costs by having each homebuyer execute a ~ deferred, forgivable note secured by deed of trust that represents ~ second ort#~ird mortgage lien on the property, , a i 1 f rovidin far the waiver and for iveness of the amount seoured b the note in the same manner ~ rovidd b other HU D su orted ro rarns at the time the homehu er i ualified fer the assistance" ect~or~ 4. ~y execution of this first Amendment, the porkies agree to be hound by the vended tern provision. All other provisions, obligations, and conditions of the Agreement not changed by this First Amendment remain the same and in full force and effect. H:I~EG-DIRIJeannielGarylAmendment-Affar~abieHousinglnfilE2n~ ~~103~ .d~c EXE~UTED !N DUPLICATE, each of which is considered an original, a~ this the ~_ day of , 20a~~ CORPUS CHRISTI BUSINESS & JOB DEVELOPMENT CORPORATi~N . a r~ ~u N Sig U~ Titl Printed name: ~ a Z Date: r- r ~~CN~INLE~I~~NT STATE OF TEXAS § § KNOW ALL BY THESE PRESENTS: COUNTY OF NUECES § This ins ument w s a knowledged before me o~ ~ ~~~~ by V ~ as the (title) of the Corpus hristi Business and Job Development Corporation, a Texas onprofit corporation, on behalf o~ the corporation..-~~ ~ • - ~~ ~l~T ~ P ~ ~, t ~f Tee ~~ ,~~~f l7i~Lt~~~ ~~11Ji~~, 7 ~~ ~" ~ ,~-~~~ Vii= jE~(A~ ~ ..ry, , ~ 8-009 ~ ~2-~ ~;~~~ fi ~~~ ~~y ~,p~1~Tl. ~k~, H:1~~-~~RIJ~anni~lGarylAmendmer~~-Afforda~feHousin~ln#~~I~nd 071031.doc Page 3 0~ 4 ATT~T: Armando Chapa City Secretary Date: ,~9~a CfTY OF CORPUS CHR~ST1 Ge rg . Nae City Manager date: Nll~~ C~~NTY COMUNlTY APPROI~ED A TO FORS: `~ ~ ~ ry VI! m ith Aitant City Attarne for the pity Attorney ~/ /' Printed name: ~ ~ ~~'~ ~~ Date: C • Z - D AC~CNOILD~NT ~, t- ia'iir~ ^4~\\ l •~^*^ s~~ ~~ ~ ~ ~ STATE OF TEXAS § § KNOW ALL BY THESE PRESENTS: COUNTY OF NUECES § This instrument era ~ckn~~r~ed,{~RLJY~^lod beforo me on ~~d ~ e~ ,~ , X007' T I F ~ ~ ~ as tho ~ ~t~tle} ~~ the Nuec County community Aotion Agency, a Toxa nonprofit corporation, of~ bo~aif otthe corporation. CN~I~A R ~A~~N~R onon p~ N ~TA~Y P ~J B Li C, state o~ TXa H;~~~-a1RIJe2~nnielarylAmendmer~t,Afford~~leHousingEnfill~nd ~7~~31.~oc 1-g~~ Page 4 of ~ ACTION A ~NC~