RES 2000-0376 - Amendment to agmt with Bull Durham LP AAHA,,y4,g P1 ping Department
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FDFEBR February 8, AttalliA, NEBRASKA
City of Omaha Robert C.Peters
H
Acting Director
Hal Daub,Mayor
Honorable President
and Members of the City Council,
This proposed Resolution approves an Amendment to the Agreement approved by the Cite
Council on August 5, 1997 by Resolution No. 2180 between the City of Omaha and the Bull
Durham Limited Partnership, a Nebraska Limited Partnership. The original Agreement provided
partial financing in the amount of$500,000.00 in HOME Program Funds for the renovation of
the Bull Durham historic building located at 1013 Leavenworth Street into leasable commercial
space on the main floor and 48 apartments on the upper floors.
Section 3.19 of that Agreement requires the Partnership to retain certain records for each family
or individual occupying a rental unit for three (3) years. The federal regulations requires records
to be retained for five (5) years.
This attached proposed amendment brings that Section into compliance with federal regulations.
Your favorable consideration of this Resolution will be appreciated.
Respectfully submitted, Referred to City Council for Consideration:
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Robert C. Peters Date Mayor's Offi-• / Date
Acting Planning Director
Approved: Approved:
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Louis A. D'Ercole ate Kellie Paris-Asaka Date
Finance Director Human Relations Director
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AMENDMENT
THIS AMENDMENT is to the Agreement approved by the City council on August 5,
1997, by Resolution No. 2180, and is made and entered into by and between the City of Omaha,
a Municipal Corporation in Douglas County, Nebraska and the Bull Durham Limited
Partnership, a Nebraska Limited Partnership, 1025 Leavenworth Street, Omaha, Nebraska
68102. It is the intention of the parties that this Amendment relate back to the original
Agreement.
RECITALS:
WHEREAS, on August 5, 1997, by Resolution No. 2180, the City of Omaha entered into
an Agreement with the Bull Durham Limited Partnership, a Nebraska Limited Partnership, and
provided $500,000.00 in HOME Investment Partnerships Program funds for the renovation of
the historic Bull Durham Building located at 1013 Leavenworth Street into leasable commercial
space on the main floor and 48 spacious one, two and three-bedroom apartments on the upper
floors; and,
WHEREAS, Section 3.19 of that Agreement requires the Partnership to retain certain
records for each family or individual occupying a rental unit for three (3) years; and Federal
Regulations mandates that records be retained for five (5) years; and,
WHEREAS, approval of this Amendment brings Section 3.19 into compliance with
federal regulations; and,
WHEREAS, the remainder of the Agreement would remain unchanged; and,
WHEREAS, it is in the best interests of the City of Omaha and the residents thereof that
the City enter into this Amendment.
NOW, THEREFORE, IN CONSIDERATION OF THESE MUTUAL COVENANTS
HEREIN CONTAINED, THE PARTIES HERETO AGREE AS FOLLOWS:
Section 3, Paragraph 3.19, shall be deleted in its entirety and the following language shall
be substituted in its place and stead:
3.19 The Owner shall retain the following records for each family or individual
occupying a rental unit for five (5) years after the required period of affordability
specified in Section 3.16.3 of this Agreement:
3.19.1 The name, address and unit occupied,
3.19.2 A copy of the lease/rental agreement entered into with the Owner,
3.19.3 The date(s) of occupancy; and,
•
3.19.4 The median family income as determined annually pursuant to Section
3.16 of this Agreement.
WHEREAS, the remainder of the Agreement approved by the City Council on August 5,
1997,by Resolution 2180, shall be and hereby is in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
written below.
ATTEST: CITY OF O HA, a Municipal Corporation in
- A Douglas Co ,Nebras -
CI Y. ERK OF T ITY Oi.'OMAHA D TE MAY OF THE CITY OF OMAHA AT
BULL DURHAM LIMITED PARTNERSHIP, a
Nebraska Limited Partnership
By: THI,INC.,GENERAL PARTNER
By: 8a 'ii' /z thg
Tammy Barre President Date
By: SECURITIES PROJECT CORPORATION,
GENERAL PARTNER, a wholly owned
Subsidiary of South Omaha Affordable Housing
Corporation,a Nebraska Non-Profit Corporation
By: ./ `1/ Date
EXe_cut fAr2. 1 I J,ia
Title
APPROVED AS TO FORM:
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A TANT CITY ATTO Y AT
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is Amendment brings Section 3.19 into compliance with
federal regulations; and,
WHEREAS, the remainder of the Agreement would remain unchanged; and,
WHEREAS, it is in the best interests of the City of Omaha and the residents thereof that
the City enter into this Amendment.
NOW, THEREFORE, IN CONSIDERATION OF THESE MUTUAL COVENANTS
HEREIN CONTAINED, THE PARTIES HERETO AGREE AS FOLLOWS:
Section 3, Paragraph 3.19, shall be deleted in its entirety and the following language shall
be substituted in its place and stead:
3.19 The Owner shall retain the following records for each family or individual
occupying a rental unit for five (5) years after the required period of affordability
specified in Section 3.16.3 of this Agreement:
3.19.1 The name, address and unit occupied,
3.19.2 A copy of the lease/rental agreement entered into with the Owner,
3.19.3 The date(s) of occupancy; and,
FROM AFFORDABLE HOUSING PHONE NO. :' 4023428736 + Dec. 16 1999 09:18AM P2
SECURITIES PROJECT CORPORATION
Certification by Secretary
1, John R. Holdenried, secretary of Securities Project Corporation, hereby certify
as follows:
1. The Board of Directors of Securities Project Corporation ("SPC") at its
meeting of November 4, 1997, adopted the following resolution:
a. SPC is hereby authorized and approved to participate as a co-general
partner in the limited partnership created for the purpose of operating low-
income housing in the Bull Durham building.
b. Sister Marilyn Ross, executive director, and Gary Batenhorst, president, are.
authorized to approve the final terms of participation and all documents
associated with such participation; and
c. The appropriate officers, including Sister Marilyn Ross, executive director,
are authorized and directed to take all actions and to sign all documents on
behalf of SPC that are necessary or desirable to carry out SPC's
participation in the limited partnership and the project.
2. The current duly elected officers of SPC are:
President: Gary Batenhorst
Vice President: Ed Kohout
Secretary: John Holdenried
Treasurer: Sister Marilyn Ross
Executive Director: J. Ramon Hernandez
3. Based on the resolution of November 4, 1997, the current officers are duly
authorized to take all actions and sign all documents on behalf of SPC that are
necessary or desirable to carry out SPC's participation in the Bull Durham limited
partnership and the project.
Dated this 14th day of December, 1999.
o n R. Holdenried, Secretary
411
DOCS/393176.1
wner shall retain the following records for each family or individual
occupying a rental unit for five (5) years after the required period of affordability
specified in Section 3.16.3 of this Agreement:
3.19.1 The name, address and unit occupied,
3.19.2 A copy of the lease/rental agreement entered into with the Owner,
3.19.3 The date(s) of occupancy; and,
L n
C25A CITY OF OMAHA
LEGISLATIVE CHAMBER
Omaha,Nebr February 8 ggt 2000
RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA:
WHEREAS, on August 5, 1997 by Resolution No. 2180 the City Council
approved an Agreement between the City of Omaha and the Bull Durham Limited Partnership, a
Nebraska Limited Partnership; and,
WHEREAS, that Agreement provided partial financing in the amount of$500,000.00 in HOME
Program Funds for the renovation of the Bull Durham historic building located at 1013
Leavenworth Street into leasable commercial space on the main floor and 48 apartments on the
upper floors; and,
WHEREAS, Section 3.19 of that Agreement requires the Partnership to retain
certain records for each family or individual occupying a rental unit for three (3) years; and
Federal Regulations mandates that records be retained for five (5) years; and,
WHEREAS, approval of the attached proposed amendment will bring that Section
into compliance with federal regulations; and the remainder of the Agreement would remain
unchanged.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF OMAHA:
THAT, as recommended by Mayor, the attached Amendment to the Agreement
approved by the City Council on August 5, 1997, by Resolution No. 2180, between the City of
Omaha and the Bull Durham Limited Partnership, a Nebraska Limited Partnership, changing the
number of years for retaining certain records for each family or individual occupying a rental
unit from three(3) years to five (5) years, is hereby approved.
APPROVED AS TO FO
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g (5/74AA bliolqicri
TT RNEY DATE
CIT O
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ied in Section 3.16.3 of this Agreement:
3.19.1 The name, address and unit occupied,
3.19.2 A copy of the lease/rental agreement entered into with the Owner,
3.19.3 The date(s) of occupancy; and,
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