HomeMy WebLinkAboutResolution - 2023-R0197 - Amendment No. 1 ARPA Agreement 16514 with MBE 3, LLC for Peoples BankResolution No. 2023-R0197
Item No. 6.37
April 11, 2023
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Mayor of the City of Lubbock is hereby authorized and directed to execute
and on behalf of the City of Lubbock, Amendment No. 1 to the ARPA Funding Agreemf
Contract No. 16514 for the construction and installation of infrastructure that will support a n4
affordable housing development for disproportionately impacted populations and communit:
living in a qualified census tract ("QCT"), by and between the City of Lubbock and MBE 3, LI
and related documents. Said Amendment is attached hereto and incorporated in this resolution
if fully set forth herein and shall be included in the minutes of the City Council.
Passed by the City Council on
April 11, 2023
APPROVED AS TO CONTENT:
a_ Zx- -
Bill Ho rton, eputy City ger
APPROVED AS TO FORM:
4-
KeffITYlsure, Senior Assistant City Attorney
ccdocs/RES.Amend #1 to ARPA Agrmnt MBE 3
3.6.23
Resolution No. 2023-RO197
Amendment 1
To ARPA Funding Agreement Between
The City of Lubbock, TX
and
MBE 3, LLC
THIS IS THE FIRST AMENDMENT TO THE ARPA FUNDING AGREEMENT No. 16514 dated and
entered into on the 26th day of April 2022, by and between the City of Lubbock ("City") and MBE 3,
LLC, of Lubbock, Texas ("Subrecipient"), collectively (the "Parties").
The Parties agree to amend the default notice provisions of "Article XIV. Notice", subsection B. of the
Agreement to remove Happy State Bank, and replace the lender for notice to Peoples Bank.
NOW THEREFORE, the Parties enter into this amendment and agree as follows:
B. Subrecipient's Address. The Subrecipient's address and numbers for the purposes of
notice are:
MBE 3, LLC
Lai Williams
4701 22nd Street
Lubbock, Texas 79407
Telephone: 806-283-033 9
Email: lalbwilliams@gmail.com
FOR NOTIFICATION OF DEFAULT UNDER ARTICLE IV OF THIS AGREEMENT
NOTICE SHALL BE PROVIDED TO THE FOLLOWING:
Peoples Bank
5820 82"d Street
Lubbock, TX 79424
Brett Villarreal
IN WITNESS HEREOF, the parties have executed this Agreement as of this llth day of
April 2023.
CITY O CK MBE 3, LLC
TRAY P ayor Willi�y► , Owner
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APPROVED AS TO CONTENT:
W,
Bill jf 4efton, Deputy
APPROVED AS TO FORM:
I.Fcl]i reisure, Scnior Assistant City Attorney
Page 2 of 2