HomeMy WebLinkAboutC2008-297 - 8/12/2008 - ApprovedAFFORDABLE HOUSING PROJECT AGREEMENT
CORPUS CHRISTI COMMUNITY DEVELOPMENT CORPORATION -
NEW HOME CONSTRUCTION PROJECT
This Affordable Housing Project Agreement ("Project Agreement") is entered into
between the Corpus Christi Business and Job Development Corporation
("Corporation"), the City of Corpus Christi ("City"), and Corpus Christi Community
Development Corporation ("Grantee").
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vernon'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
improving 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 26,
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 Proposition 2 and allocated
under Proposition 26 for affordable housing was subsequently enacted by the City's
City Council ("City Council"), and filed with the State Comptroller of Texas, effective
April 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, Grantee submitted a proposal to the Board to request funds for the
purchase of land for affordable housing, construction and development fees, and
installation of green building features into new homes.
WHEREAS, the Board has determined that it is in the best interests of the residents of
the City of Corpus Christi that affordable housing funds be awarded, by execution of this
Project Agreement, to accomplish the affordable housing project described in this
agreement and in portions of the Grantee's proposal;
In consideration of the covenants, promises, and conditions stated in this Project
Agreement, the Corporation, Grantee, and the City agree as follows:
1. Project Agreement to Implement Affordable Housing Project. This Project
Agreement between the Corporation, the City, and Grantee is executed to implement
the promotion and development of an affordable housing project proposed by Grantee
2008-297
08/12/08 Page 1 of 11
Res. 027807 Ames 07152008.doc
CCCDC - 4A Board
in response to the Board's request for proposals ("Project Response"). The Project
Response submitted by Grantee, entitled "CCCDC New Home Construction Project"
("Project") is attached to this Project Agreement as Exhibit A, and is incorporated in this
Project Agreement by reference.
2. Effective Date. The effective date of this Project Agreement is the latest date on
which a party to the Project Agreement executes this Project Agreement. ("Effective
Date")
3. Expiration Date. This Project Agreement expires on January 31, 2011
4. Services to be Provided by City.
a. The City, through the City's City Manager or his designee ("City Manager"),
administers the funding and performs contract administration responsibilities, as
outlined in this Project Agreement, for the Corporation.
5. Services to be Provided by Grantee.
a. Grantee shall acquire nine (9) lots for the construction of new single-family
homes for low or moderate income families. Funds from this grant may be used
to defray portions of the costs to purchase the lots. The cost of each new lot
must not exceed $25,000.00.
b. Grantee shall construct nine (g) new single-family homes for low or moderate
income families. Funds from this grant may be used to defray portions of the
costs of construction and to buy down the costs of development service fees for
the new homes.
c. Each new home must incorporate energy efficient features in the construction
of the homes for sustainability. Funds from this grant may be used to defray
portions of the costs of installing the energy efficient features.
d. Grantee is a recipient of HOME funds, and must provide families with down
payment assistance in the form of a forgivable loan in the amount of $15,000 to
$20,000 to families of low to moderate income.
e. Grantee must use lower down payment assistance to help more families with
low to moderate income, as deemed by HUD standards, qualify for the purchase
of a home.
f. Each homeowner must meet the qualifications in Exhibit B.
6. Services to be Provided by Corporation. The Corporation will provide a grant of
up to $25,000.00 toward the construction of each of the nine (g) new homes, including
the purchase of land and construction of the house incorporating energy efficient
features, but the total granted may not exceed $225,000.00.
Page 2 of 11
AROrdable Housing -CCCDC -New Homes 07152008.doc
7. Documentation and Reports.
a. Grantee shall maintain all documentation relating to the receipt and
expenditure of the funds provided under this Project Agreement for a period of
three years following the expiration of this Project Agreement or for such longer
period as may be required by Federal or State law.
b. Grantee shall provide access to all records, documents, reports, and audits,
regarding the funded activity under this Project Agreement, during regular
business hours, for the purpose of inspection and copying by the City Manager.
Furthermore, Grantee shall provide to the City Manager any information
pertinent to this Project Agreement, as may be requested during the term of this
Project Agreement.
c. Grantee shall submit a performance report ("Quarterly Report") to the City
and the Corporation at least once each quarter, and a complete performance
report ("Final Report") within 30 days of the expiration of this Project
Agreement. The Quarterly and Final Reports must contain all relevant details
pertaining to the acquisition of the land and construction of the nine homes with
energy efficient features with funds made available under this agreement, and
include any supporting documentation required to substantiate the written
narrative contained in the reports. The reports must document:
(1) Property appraisal information
(2) Title and Deed of Trust for the property purchased
(3) Expenses incurred for construction project
(4) Purchase price of the new constructed home
(5) Home buyer assistance information -amounts per homebuyer
(6). Itemized Energy efficiency (green building) features with documented
expenses
(7). Balance of 4A grant
(8) Pending project expenses
(9). Status of project time line
(10). Project challenges and anticipated resolutions.
Page 3 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
8. Amendments or Modifications.
a. No amendments or modifications to this Project Agreement may be made, nor
any provision waived, unless the amendment or modification is made in writing
and signed by persons duly authorized to sign agreements on behalf of all
parties.
b. The Corporation's President and City Manager are authorized to execute
minor amendments or modifications to this Project Agreement, by exchange of
letters with the Grantee. The minor amendments and modifications may relate to
the timing of performance and reporting, the scope of work to be performed, the
number of homebuyers assisted, or the amount of assistance provided to each
homebuyer. However, the minor amendments or modifications may not increase
the amounts of money available to the Grantee under this Project Agreement.
9. Severability.
a. If forany reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Project Agreement or the application of this Project
Agreement to any person or circumstance is, to any extent, held illegal, invalid,
or unenforceable under present or future law or by a final judgment of a court of
competent jurisdiction, then the remainder of this Project 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 Project
Agreement that every section, paragraph, subdivision, clause, provision,
phrase, and word of this Project Agreement be given full force and effect for its
purpose.
b. To the extent that any clause or provision is held illegal, invalid, or
unenforceable under present or future law effective during the term of this
Project Agreement, then the remainder of this Project 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 Project Agreement automatically.
70. Compliance with Laws. Grantee shall comply with all applicable Federal, State,
and local government laws, rules, regulations, and ordinances which may be relevant to
Grantee's performance under this Project Agreement.
11. Jurisdiction and Venue.
a. This Project Agreement is governed by and must be construed under the
laws of the State of Texas.
Page 4 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
b. All actions brought to enforce compliance with this Project Agreement must
be brought in Nueces County, Texas, where this Project Agreement was
entered into and must be performed.
12. Acknowledgment and Construction of Ambiguities. The parties expressly
agree that each has independently read and does understand this Project Agreement.
By Grantee's execution of this Project Agreement, Grantee agrees to be bound by the
terms, covenants, and conditions contained in this Project Agreement. Any ambiguities
in this Project Agreement may not be construed against the drafter.
13. Indemnity. Grantee must fully indemnify and hold harmless the
City of Corpus Christi, the Corpus Christi Business and Job
Development Corporation, and their officers, employees, and agents
(hereinafter, collectively "Indemnitees") from and against any and all
liability, damage, loss, claims, demands, expenses, suits, and causes
of action of any nature whatsoever on account of injury or damage to
person (including, without limitation on the foregoing, premises
defects, workers' compensation, and death claims) or property loss or
damage of any kind whatsoever which arise out of or are in any
manner connected with, or are claimed to arise out of or be in any
way connected with, either proximately or remotely, wholly or in part,
any activities by Grantee, its officers, employees, agents, members,
invitees, or independent contractors with respect to this Project
Agreement or the Project that is the subject of this Project
Agreement, regardless of whether such injuries, death, or damages
are caused, or are claimed to be caused, by the contributory
negligence of any of the Indemnitees, but not if caused by the sole
negligence of the Indemnitees unmixed with the fault of any other
person or entity. Grantee covenants and agrees that if Indemnitees,
or any of them, are made a party to any litigation against Grantee or in
any litigation commenced by any party other than Grantee relating to
this Project Agreement or Project, Grantee shall, upon receipt of
reasonable notice regarding commencement of litigation, at its own
expense, investigate all claims and demands, attend to their
settlement or other disposition, defend Indemnitees in all actions
based thereon with legal counsel satisfactory to Indemnitees, and pay
all charges of attorneys and all other costs and expenses of any kind
arising from any said liability, damage, loss, demand, claim, or action.
Page 5 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
14. Warranties. Grantee warrants and represents to Corporation the following
a. Grantee is a duly organized, validly existing, and in good standing under the
laws of the State of Texas, has all authority to carryon its business as presently
conducted in Corpus Christi, Texas.
b. Grantee has the authority to enter into and perform, and will perform, the
terms of this Project Agreement.
c. Grantee 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 governmental charges, including applicable ad valorem taxes, have
been timely paid, and will be timely paid, during the term of this Project
Agreement.
d. Grantee has received a copy of the Texas Development Corporation Act of
1979, Art. 5190.6, Vernon's Texas Revised Civil Statutes, and acknowledges that
the funds granted in this Project Agreement must be utilized solely for purposes
authorized under State law and by the terms of this Project Agreement.
e. If an audit determines that the funds were not used for authorized purposes,
Grantee agrees to reimburse Corporation for the sums of money spent for
purposes not authorized by law within 30 days written notice requesting
reimbursement.
f. The parties executing this Project Agreement on behalf of Grantee are duly
authorized to execute this Project Agreement on behalf of Grantee.
15. Events of Default. The following events constitute a default of this Agreement
a. Failure of Grantee to timely, fully, and completely comply with any one or
more of the requirements, obligations, duties, terms, conditions, or warranties of
this Project Agreement.
b. The Corporation or City determines that any representation or warranty on
behalf of Grantee contained in this Project Agreement or in any financial
statement, certificate, report, proposal, or opinion submitted to the Corporation in
connection with this Project Agreement was incorrect or misleading in any
material respect when made.
c. Any judgment is assessed against Grantee or any attachment or other levy
against the property of Grantee with respect to a claim remains unpaid,
undischarged, or not dismissed for a period of 30 days.
d. Grantee makes an assignment for the benefit of creditors.
e. Grantee files a petition in bankruptcy, or is adjudicated insolvent or bankrupt.
Page 6 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
f. If taxes on property owed by Grantee become delinquent, and Grantee fails to
timely and properly follow the legal procedures for protest or contest.
g. Grantee changes the general character of its business as conducted on or
following the date this Agreement is approved by the Corporation.
16. Notice of Default. Should the Corporation or City determine that Grantee is in
default under the terms of this Agreement, the Corporation or City shall notify Grantee in
writing of the event of default and provide 60 days from the date of the notice ("Cure
Period") for Grantee to cure the event of default.
17. Results of Uncured Default. After exhausting good faith attempts to address any
default during the Cure Period, and taking into account any extenuating circumstances
that might have occurred through no fault of Grantee, as determined by the Board of
Directors of the Corporation, the following actions must be taken for any default that
remains uncured after the Cure Period:
a. Grantee shall immediately repay to Corporation, with interest at the interest
rate paid by the City on its most recently issued general obligation bonds from
date of expiration of Cure Period until fully paid, all funds not used under terms of
this Project Agreement.
b. Grantee shall pay Corporation reasonable attorney fees and costs of court to
collect amounts due to Corporation.
c. The Corporation shall have no further obligations to Grantee under this
Project Agreement and this Project Agreement shall terminate.
d. Neither the City nor the Corporation may be held liable for any consequential
damages.
e. The Corporation may pursue all remedies available under law
18. No Waiver.
a. No waiver of any covenant or condition, or the breach of any covenant or
condition of this Project Agreement, constitutes a waiver of any subsequent
breach of the covenant or condition of the Project Agreement.
b. No waiver of any covenant or condition, or the breach of any covenant or
condition of this Project Agreement, justifies or authorizes the nonobservance on
any other occasion of the covenant or condition or any other covenant or
condition of this Project Agreement.
c. Any waiver or indulgence of Grantee's default may not be considered an
estoppel against the Corporation.
Page 7 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
d. It is expressly understood that if at any time Grantee is in default in any of its
conditions or covenants of this Project Agreement, the failure on the part of the
Corporation to promptly avail itself of the rights 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 rights or remedies
or elect to terminate this Project Agreement on account of the default.
19. Notices.
a. Any required written notices shall be sent, certified mail, return receipt
requested, addressed as follows:
If to Grantee:
Corpus Christi Community Development Corporation
Attn: President
615 Upper N. Broadway, Suite 1100
Corpus Christi, Texas 78477
If to Corporation:
City of Corpus Christi Business and Job Development Corporation
Attn: Executive Director
1201 Leopard Street
Corpus Christi, Texas 78401
b. A copy of all notices and correspondence must be sent to the City at the
following address:
City of Corpus Christi
Attn.: City Manager
P.O. Box 9277
Corpus Christi, Texas 78469-9277
c. Notice is effective upon deposit in the United States mail in the manner
provided in subsection a of this section.
20. Incorporation of other documents.
The Corpus Christi Business & Job Development Corporation 4a Board
Affordable Housing Request for Proposals issued April 7, 2008, is incorporated
into this Project Agreement.
21. Relationship of Parties. In performing this Agreement, the Corporation, Grantee,
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.
Page 8 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
22. Nonassignment. Grantee may not assign, mortgage, pledge, or transfer this
Project Agreement or any interest contained in this Project Agreement without the prior
written consent of the other parties to this Project Agreement.
23. Non-discrimination.
a. Grantee may not discriminate nor permit discrimination against any person or
group of persons on the grounds of race, gender, disability, religion, age, or national
origin in any manner prohibited by the laws of the United States or the State of
Texas.
b. The Corporation retains the right to take any action the United States or the State
of Texas may direct to enforce this non-discrimination covenant.
24. Captions. The captions in this Project Agreement are for convenience only and
are not a part of this Project Agreement. The captions do not in any way limit or amplify
the terms and provisions of this Project Agreement.
25. Entire Agreement. This Project Agreement and the referenced and incorporated
documents constitute the entire agreement between the Corporation, the City, and
Grantee for the purpose stated. All other agreements, promises, representations, and
understandings, oral or otherwise, with reference to the subject matter of this Project
Agreement, unless contained in this Project Agreement, are expressly revoked, as the
parties intended to provide for a complete understanding, within the provisions of this
Project Agreement and its referenced and incorporated documents, of the terms,
conditions, promises, and covenants relating to the each party's required performance
under this Project Agreement.
CORPUS CHRISTI BUSINESS &
JOB DEVELOPMENT CORPORATION
EI Sa aza
Chairman
~~~-off
Date
Page 9 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
ACKNOWLEDGMENT
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF NUECES §
This instrument was acknowledged before me on d'1 ~ , 2008,
by Eloy Salazar, Chairman, Corpus Christi Business & Job elopment Corporation, a
Texas nonprofit corporation, on behalf of the corporation.
ATTEST:
~~D~-~+----
Armando Chapa
City Secretary
Date: ~/?~/%~'
CITY OF CORPUS CHRISTI
G orge K. Noe
City Manag r
Date: ~~ ~/~~
APPROVED AS TO FORM:
R. J ~fining
Fir Assistant CJt Attorney
for the City Attorney
dl' CaUNCII
SFCRfTASY
Page 10 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
CORPUS CHRISTI COMMUNITY DEVELOPMENT CORPORATION
ce, ~~
Sylv A. Ford
Pre ' ent
Date
ACKNOWLEDGMENT
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS:
COUNTY OF NUECES §
This instrument was acknowledged before me on .' '~' 7 ~ , 2008,
by Sylvia A. Ford, President, Corpus Christi Community evelopment Corporation , a
Texas Domestic For-Profit Corporation, on behalf of the corporation.
~~~1 ~ircK~a~c~
NOTARY PUBLIC
State of Texas
~ „m_. .
v..~w.ry, e.vvvw vv vwvvt~r,
~vp.~.?~ SAVANNAH KIRKPATRICKe
j.~ }* PlntaryPubtle
> '•w~• 9teteof7exaa
y '~a~ My Comm.Exp.OfNISl2011
vvven.a!~n.n.~t
Page 11 of 11
Affordable Housing - CCCDC -New Homes 07152008.doc
Corpus Christi Community Development Corporation
Grant Proposal
May 1, 2008
Enclosed is a proposal from the Corpus Christi Community Development Corporation for
the request of a grant for the construction ofsingle-family affordable housing. The CDC
hereby acknowledges and certifies that we can and will meet all RFP provisions.
Questions can be addressed to me at (361) 844-1213 or (361) 876-7198.
Sincerely,
~.
yl 'a A. Ford
sident
Corpus Christi Community Development Corporation
Exhibit A
Corpses Christi Coenensenity Deeelopenent Corporation
Grant Proposal
The Corpus Christi Community Development Corporation (CDC) was established by a
group of six local banks in January 1996. The purpose of establishing the CDC was to:
(a) Promote, develop and improve the economic conditions of people in the azea of
Corpus Christi, Texas.
(b) Encourage and assist through loans, investments and other business transactions,
an increase in the supply of affordable housing, including housing for low and
moderate-income persons.
The CDC's mission is to improve the economic conditions of the azea of Corpus Christi
through cooperative efforts of the banking institutions, which aze shazeholders of the
corporation. The banking institutions (shareholders) of the CDC aze American Bank,
Frost Bank, IBC Bank, and Wells Fazgo Bank. Each shareholder has invested dollars on
behalf of their banking institution to use for single-family affordable housing equal to the
amount of $350,000. hi addition to this investment, the CDC will provide HOME funds
for down payment/closing costs in the amount of $10,000-$20,000 for each of the
qualified families.
The CDC has been involved in single-family affordable housing since 1996. Since that
date, the CDC has facilitated the construction of 232 homes for families of low income.
It has provided 0% interest loans for the development of affordable housing subdivisions
and has handled HOME loan funds providing down payment assistance. The CDC's
involvement represents $4,652,767 in new affordable home construction.
Outlined in this proposal is a plan to construct fifteen (15) single-family homes and assist
families of low income purchase the homes by acquiring the land for the homebuyer,
incorporating energy efficient features in the construction of the homes for sustainability,
providing education to the families in Pre and Post homeownership in areas such as credit
management, delinquency prevention and budgeting. Families will also receive education
in minor home repairs. This request also includes the buy down of development services
fees associated with construction to keep construction costs lower.
CDC Pronosed Timeline:
August -October 2008 Land Acquisition
December 2008 CDC Issues RFP for Single-family Affordable
Housing Builders
January 2009 CDC Awards Builder Allocation, HOME Down
Payment Assistance
February 2009-February 2011 Construction of 15 Single-family Homes
Corpus Citristi Cosnrnunity Deveiopnaent Corporation
Afforciabie Mousing Grant Proposal
May 1, 2008
Grant Request: $430,500
The Corpus Christi Community Development Corporation (CDC) was established by a group
of six local banks in January 1996. The purpose of establishing the CDC was to:
(a) Promote, develop and improve the economic conditions of people in the area of
Corpus Christi, Texas.
(b) Encourage and assist through loans, investments and other business transactions, an
increase in the supply of affordable housing, including housing for low and moderate-
incomepersons.
The CDC's mission is to improve the economic conditions of the azea of Corpus Christi
through the cooperative efforts of the banking institutions, which are the shareholders of the
corporation. The banking institutions (shazeholders) of the CDC aze American Bank,
Frost Bank, IBC Bank and Wells Fargo Bank. Each shareholder has invested dollars on
behalf of their banking institution to use for single-family affordable housing equal to the
amount of $350,000.
The CDC has been involved in single-family affordable housing since 1996. Since that date,
the CDC has facilitated the construction of 232 homes for families of low income. It has
provided 0% interest loans for the development of affordable housing subdivions and has
handled HOME loan funds providing down payment assistance. The CDC's involvement
represents $4,652,767 in new affordable home construction.
The CDC has recognized that the current economy has made it very difficult for families of
low income to afford housing and has put this plan in place to assist them in becoming
homeowners. The plan includes most of the components that aze needed for low to moderate-
income families to become homeowners:
(a) Housing that is affordable for families of low income
(b) Pre-purchase and Post-purchase education homebuyer counseling which will be
available to homebuyers before and during homeownership to provide
homeowners the tools that will assist them in maintaining ownership of their
home and not becoming another foreclosure statistic
(c) Green Concepts for energy efficiency for homeowner sustainability
(d) Buy down of the purchase price of the house by assisting with development
services fees associated with the construction of the homes.
The CDC recognizes that there are many challenges in the development of single-family
affordable housing for low income, but believes that some of the obstacles can be overcome
through partnership efforts, the commitment of the shareholders and the dollazs committed to
the CDC by each of the financial institutions, committed builders/lenders, and the grant
dollars requested from the Corpus Christi Business and Job Development Corporation.
The following outlines the Corpus Christi Community Development's grant request.
Land Acquisition:
Grant Request: $375,000 For Purchase Of 15 Lots For Single-family New
Affordable Home Construction
(a) Location to be determined. booking at several options.
(b) Lot cost approximately $25,000 per lot.
(c) 151ots to be created for single-family affordable housing
(d) Zoning will be residential
(e) Nueces County Tax Appraisal District property tax report not yet in place until
land identified
(f) Title opinion not yet in place until land identified
(g) Start Date: August, 2008 Completion Date: October 2008
Construction/Develoument Requirements:
Grant Request: $15,000 For Development Of 15 Single-family New
Affordable Home Construction
(a) Estimated cost of construction per home is $63,000
(b) Development services fees associated with construction @ 1,000 per home = $15,000
(c) Location of project has not yet been determined. Looking at several options.
(e) Start Date: February 2009 Completion Date: February, 2011
Green Building Concepts:
Grant Request: $22,500 For Energy Efficiency For Homeowner Sustainability
(a) Estimated cost of energy efficient water heaters for 15 low income homes @
$1,000 each = $15,000
(b) A partnership with a for profit corporation will provide energy efficient light
bulbs for each of the homes at no cost
(c) A partnership with anon-profit organization will provide two (2) shade trees for
each of the 15 homes at no cost
(d) Estimated cost for Certified Energy Efficient Assessor to oversee construction of
15 low income homes to ensure home construction meets 100% energy efficiency
guidelines @ $500 each = $7,500
(e) Builders building 100% energy efficient affordable homes will receive a $2,000
Tax Credit for each home
(f) Homeowners aze eligible to receive Tax Credits based on energy efficiencies provided
in their home.
CounselinE
Grant IBequest: $18,000 For Pre-purchase And Post-purchase Education For
Families Of Low Income
(a) Partnership with non-profit organization will provide Pre-purchase and
Post-purchase education to families of low income. Education will consist of credit
management, delinquency prevention and budgeting @ $1,200 per
family = $ 18,000
(b) Minor Home Repair Education will be provided through partnerships with plumbers,
electricians, and home improvement specialists to teach homeowners how to make
minor home repairs to their homes and avoiding major repair costs
associated with families not knowing how to make minor repairs. Education will be
provided at no cost.
The CDC is a recipient of HOME Funds and will provide families with Down Payment
Assistance in form of a forgiveable grant in the amount of $13,000-$20,000 to families of low
to moderate income qualifying under HUD guidelines.
Example of proposed CDC Affordable Housing Model is as follows. Model subject to change
based on down payment assistance needs:
Cost of Home $85,000
CDC Land Grant - 22 000
$63,000
HOME Grant - $10,000
$53,000
IN CONCLUSION:
($22,000 lot purchase/$3,000 closing costs=$25,000 Lot)
($10,000 down paymenU$3,000 closing cost=$13,000 grant)
1Vlortgage Loan Amount
(a) This proposal allows for the use of lessor down payment assistance, thus helping more
families
(b) The opportunity to assist families at 60% and 50% Area Median Income (AMI) as
deemed by HUD standards. Historical City of Corpus Christi statistics show that more
families at 80% and 70% of Area Median Income are current homeowners under the
HOME program for single-family new construction and very few families of lower
income aze homeowners under same program.
(c) Provides education which is crucial to the homeowner's success in homeownership
(d) Includes energy efficiency which promotes sustainability by which
families can afford to pay their mortgage and utility costs.
C3DC Proiect'Pimeline:
August -October 2008 Acquire Land
December 2008 CDC issues RFP for Single-family Affordable Housing
Builders
January 2009 CDC awazds Builder Allocation, HOME Down Payment
Februazy 2009-February 2011 Construction of l 5 Single-family Homes
"Exhibit F"
CITY OF CORPUS CHRISTI
DISCLOSURE OF INTERESTS
City of Corpus Christi Ordinance 17112, as amended, requires all persons or firms seeking to do business with the City to
provide the tofl(yy',n'ng informal n. Every qu must be answered. If the question is not applic/able, answer with DNAD.
FIRMNAME:w`..~~...ritiT~-..et-j......~~vG~p metLl'....~..Of' r'ct-k"toM-
STREET:......5.}t...•i•GO.O ................................................ CITY:S.Of.!(?~.5....~t'LS'ti~........ ZIP:~~?.~.1:......
FIRM is: 1. Corporation ~ 2. Partnership [ ] 3. Sole Owner [ ] 4. Association [ J
5. Other [ ] .....................................................................................................................................................
DISCLOSURE QUESTIONS
If additional space is necessary, please use the reverse side of this page or attach separate sheet
State the names of each employee' of the City of Corpus Christi having an'ownership interest' constituting 3°h or more of
the ownership in the above named firm'.
Name Job Title and City Department (if known)
.........................................................
.....................................................................................................................................................................................
2. State the names of each 'official' of the City of Corpus Christi having an 'ownership interest' constituting 3% or more of
the ownership in the above named firm'.
Nam~ep Title
..... ~ Y . /1~ ...................................................
................................................................................................................
3. State the names of each board member" of the City of Corpus Christi having an "ownership interest' constituting 3°h or
more of the ownership in the above named 'firm'.
Name
.....~.~A.....
Board, Commission or Committee
4. State the names of each employee or officer of a'consultant' for the City of Corpus Christi who worked on any matter
related to the subject of this contract and has an 'ownership interest' constituting 3% or more of the ownership in the
above named firm'.
Name Consultant
...~.(. ['4 ...................................................
CERTIFICATE
I certify that all information provided is true and correct as of the date of this statement, that I have not knowingly withheld
disclosure of any information requested; and that supplemental statements wtli be promptly submitted to the Cilyof Corpus
Christi, Texas as than es occur. t~ r~ jj~~
Certifying Person: ..~1,'.~!!. ~~.......f'1.~..... ~'..`.'.',~ ........ Title:....`.tL'L°.S.! de.~,T
.............................................
•.• (Type or PrIAM)
Signature of Certifying Person:. ~Yk~......E'~.< .......................... Date:.......~.T,' O
........ fl.o .......................................
Exhibit B
Project Eligibility Criteria
The City's 4A Board of Directors is requesting proposals involving the creation of
individually owned single-family housing units that qualify as affordable housing.
Affordable Housino:
Texas Revised Civil Statues, Article 5190.6, Section 3(c) includes promotion of the
development and expansion of affordable housing as defined by 42 USC 12745 as a
projects eligible for the expenditure of economic development sales tax funds (4a
funds). This Statute basically provides qualification or restrictions on housing to
assure that the housing retains the "affordable" characteristic:
Housing that is for homeownership qualifies as affordable if:
(1) The initial purchase price does not exceed 95% of the median purchase price
for the area, with adjustments for differences in the structure, such as single-
family, new or old housing;
(2) The home is the principal residence of an owner whose family qual~es as a
low-income family (determined at the time of purchase);
(3) The home is subject to resale restrictions to provide for resale to qualifying
persons with a fair return to the owner and investment made to make the home
affordable, and
(4) If the home is newly constructed, it meets energy efficiency standards.
(5) Rehabilitation of affordable housing would require that sufficient safeguards
be placed on the funding to assure that the housing remains affordable with the
definition of 42 USC 12745.
Proposals must be for affordable single-family home ownership units designed to
assist low and moderate income households. Persons assisted must be residents of
the City of Corpus Christi; and must meet the following HUD income guidelines:
FAMILY
SIZE 1 2 3 4 5 6 7 8
ANNUAL
INCOME 27000 30850 34700 38550 41650 44700 47800 50900
sed 3121/071ncome limits are established by HUD and are subject to change without notice.