HomeMy WebLinkAboutResolution - 2014-R0337 - Agreement - North And East Lubbock Corporation - HOME Investment Program - 09/25/2014RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CI'T'Y OF LUBBOCK:
I'1 IAT the Mayor of the City of Lubbock is hereby authorized and directed to execute for
.and on behalf' of the City of Lubbock, an amendment to a Community Development Funding
Agreement by and between the City of Lubbock and North and East Lubbock Corporation
regarding the HOME Investment Partnership Program, and related documents. Said amendment
is attached hereto and incorporated in this resolution as it' I'tilly set forth herein and shall be
included in the minutes of the City Council.
Passed by the City Council on ',eptemb r 15 , 2014.
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GLE . 0BERTSON, MAYOR
ATTEST:
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Reber Gar7.a, City Secretary
APPROVED AS TO CONTENT:
Bill Hdir ierton. Assistant
APPROVED AS TQ
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Amy ins, ep ney
RES.CDFunding Ag mart Amend-11()Mk
19.11.14
STATE OF TEXAS
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AMENDMENT TO COMMUNITY DEVELOPMENT FUNDING AGREEMENT
BETWEEN THE CITY OF LUBBOCK AND
NORTH & EAST LUBBOCK COMMUNITY DEVELOPMENT CORPORATION
This amendment to Agreement is entered into this day of September
2014 between the City of Lubbock, a Texas municipal corporation (hereinafter called "the
City") and North & East Lubbock Community Development Corporation a non-profit
corporation (hereinafter called "Grantee").
WHEREAS, the Granted and the City have previously entered into an
Agreement dated August 25, 2011 (hereinafter called "the Agreement"); and
WHEREAS, the City and the Grantee hereby desire to amend said agreement.
NOW THEREFORE, the City and the Grantee hereby agree to amend the Agreement
as follows:
1) Paragraph 1. C. 1. of the Agreement as follows:
City agrees to provide Grantee assistance from Department of Housing and
Urban Development funds in an additional amount not to exceed $60,000.00
in HOME funds in addition to the $85,000.00 in HOME funds previously
granted in the agreement in return for Grantee performing the activities set
forth in this Contract as consideration for said funds.
1) Paragraph 11 of the Agreement is hereby amended as follows:
Services of the Grantee shall start on the 1" day of October 2011, and end on
the 30"' day of September 2015. The terms of this Amendment and the
provisions herein shall be extended to cover the period of affordability
rewired as specified under 24 CFR 02.254 and any additional time period
during which tale Grantee remains in control of HOME funds or other assets,
including program income.
This amendment to the Agreement shall be effective upon execution. The Remainder
of the Agreement shall remain in full force and affect except as changed herein.
Executed the of September, 2014 as first written as afi`ected as Provided herein.
CITY OF LUBBOCK
Glen o! , ayor
ATTEST:
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Rebc a Garza, City ecce a
APPROVED AS TO CONTENT:
AML 6&
Rhonda Gentry, Interim CD Direr
APPROVED AS TO FORM:
my ims, Assis 4nt City A orney
RTH &'/AST Li 1RR.QK
PME'NI,CORPORATDON
David Langston
BOARD CHAIRPERSON
FED.I.D# 7I-0961103