HomeMy WebLinkAboutC2008-376 - 10/14/2008 - ApprovedTHIRD AMENDMENT TO THE
AFFORDABLE HOUSING PROGRAM AGREEMENT
FOR A PILOT INFILL HOUSING PROJECT
This third amendment ("Third Amendment") to the Affordable Housing Program
Agreement for a Pilot Infill Housing Project ("Program Agreement") is made by and
between the Corpus Christi Business and Job Development Corporation
("Corporation"), the City of Corpus Christi ("City"), and the Nueces County Community
Action Agency ("NCCAA"), anon-profit corporation organized under the statutes of the
State of Texas.
WHEREAS, the Corporation, City and NCCAA executed an agreement ("Agreement")
for the purpose of utilizing 4A sales tax funds to construct infill housing, a project
suitable for the promotion and development of affordable housing within the City;
WHEREAS, the term of the Agreement should be extended an additional two years.
NOW, THEREFORE, the parties to the Agreement agree to amend the Agreement as
follows:
Section 1. Section 5 of the Program Agreement is amended by adding a new
subsection h, to read as follows:
"h. The NCCAA must spend at least $5,000 on each of the eight (8) homes to
be constructed on the lots purchased under subsection a of this section,
but not more than a total of $45,564, on the construction and related
development costs, including the implementation of green building/energy
efficient construction techniques, for new homes."
Section 2. Section 6 of the Program Agreement is amended by revising subsection a,
to read as follows:
"a. The Corporation authorizes the City to pay, from allocated sales tax
revenues, up to $175,000 to fund the purchase of 10 lots for a portion of
the construction and development costs of eight (8) new homes including
the implementation of green building/energy construction technigues• and
to provide down payment and closing cost assistance to qualified
homebuyers pursuant to this Program Agreement."
Section 3. By execution of this Third Amendment, the parties agree to be bound by the
amended provision. All other provisions, obligations, and conditions of the Agreement,
as previously amended, that are not changed by this Third Amendment remain the
same and in full force and effect.
EXE TED IN TRIPL CA E each of which is considered an original, on this the
_~ day of ~ , ~ , 2008.
2008-376
10/14/08
Res. 027887 Page 1 of 3
172008.doc
vCCAA
CORPUS CHRISTI BUSINESS 8~
JOB DEVELOPMENT CORPORATION
By:
Eloy H. alazar
Chairman
Date: ~ (~ °" of 7- OAS'
ACKNOWLEDGMENT
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS
COUNTY OF NUECES §
This instrument was acknowledged before me on ~~~~ ~ ~ , 2008,
by Eloy H. Salazar, as the Chairman of the Corpus Christi Business and Job
Development Corporation, a Texas nonprofit corporation, on behalf of the corporation.
"~"'
'~~ j~
~ MONI>aUE LERMA
Notary Public
~;v\
f' r
"'~
~'r STATE OF TEXgS
'r~^ My Comm. Exp. 02-18-2009
ATTEST
Armando Chapa
City Secretary
NOTARYIPUBLIq; State
CITY OF CORPUS CHRISTI
~ /.ice
' g I R. Escobar
Interim City Manager
Date: /029~0~
es: a~,,_._.s' ?~4 .?. AUTHUHIIu
al' COUNf.IL.._~Q~~~
....r..... SECRfTARY%N.
Page 2 of 3
3rd Amend NCCAA Infll Housing 09172008.doc
APPROVED AS TO FORM:
~'
R. Jay, eini g
First Assistant C} Attorney
for the City Attorney
2008
ACKNOWLEDGMENT
STATE OF TEXAS §
§ KNOW ALL BY THESE PRESENTS
COUNTY OF NUECES '
This in rument was acknowle d before me on ~ - T -~ , 2008,
by as the (title)
of the ueces County Community tion Agency, Texas nonprofit corporation, on
behalf of the corporation.
~.~~ .C?.yj?iD
NOTARY PUBLIC, State of Texas
..a•.~;; DORA MERINO
•`~ Y~° z NMary Pu61iC
a i~~~" STATE OF TEXAS
~~,Ro~ r~ My Camm. Exp. 6-01.2011
Page 3 of 3
3rd Amend NCCAA Infill Housing 09172008.doc
NUECES COUNTY COMMUNITY
ACTION AGENCY