RES 1998-1002 - Agmt with Omaha 100 Inc for housing development activities l! ,.�, _, 5 een.e44/5'
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City of Omaha April 21, 1998
Hal Daub,Mayor
Honorable President
and Members of the City Council,
The attached proposed Resolution approves .an Agreement with Omaha 100 Incorporated, a
Nebraska non-profit corporation, for administrative funding support of its housing development
activities. The agreement is in the amount of$40,000.00 and covers the time period April 1, 1998
through March 31, 1999.
On December 16, 1997, by Resolution No. 3397 the City Council approved the 1998 Consolidated
Submission For Community Planning and Development Programs, which includes the Omaha 100
Incorporated Program as part of the City's FY 98 Community Development Block Grant Program.
Under the Agreement, Omaha 100 Incorporated will provide private mortgage financing to qualified
home buyers participating in City-sponsored affordable homeownership programs. In addition,
Omaha 100 Incorporated will work to create public and private sector partnerships in order to access
capital to support development organizations as well as specific projects.
Omaha 100 Incorporated has been successful in fostering a partnership among local area lenders
who, in consortia, provide construction and permanent financing for City sponsored rehabilitation
and infill housing programs in North and South Omaha and in working with local non-profit
organizations to qualify low income families for home ownership.
The Contractor has on file a current Annual Contract Compliance Report Form(CC-1). As is City '
policy,the Human Relations Department will review the contractor to ensure compliance with the
Contract Compliance Ordinance. '`
Your favorable consideration of this Agreement will be appreciated.
Respectfully submitted, Appro ed:
•
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Planning Director Date George L a s, r., ate a'�`
Acting an Relations Director
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• :preyed: Referred to City Council for Consideration:
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le Date
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Louis A. E
Mayor's Office/Title Date
Acting Finance ( y Director
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4
AGREEMENT
THIS AGREEMENT is entered into by and between the City of Omaha, a Municipal
Corporation in Douglas County,Nebraska(sometimes hereinafter referred to as "City"), and Omaha
100 Incorporated,a Nebraska Non-Profit Corporation,2424 Cuming Street,Omaha,Nebraska 68131
(sometimes hereinafter referred to as "Contractor") on the terms, conditions and provisions as set
forth below:
RECITALS:
WHEREAS, the City of Omaha (hereinafter referred to as "the City") is a municipal
corporation located in Douglas County,Nebraska and is organized and existing under the laws of
the State of Nebraska,and is authorized and empowered to exercise all powers conferred by the State
constitution, laws, Home Rule Charter of the City of Omaha, 1956, as amended, and local
ordinances, including but not limited to,the power to contract; and,
WHEREAS, the City of Omaha annually receives Community Development Block Grant
funds under Title I of the Housing and Community Development Act of 1974, as amended, for the
purposes of benefiting low and moderate income residents, eliminating slums and blight and for
other urgent community development needs; and,
WHEREAS, the City of Omaha's FY 1998 Consolidated Submission for Community
Planning and Development Programs (sometimes hereinafter referred to as "Consolidated Plan"),
outlining priorities,programs,and funding allocations for the 1998 program year, was approved on
December 16, 1997, by City Council Resolution No. 3397; and,
WHEREAS, the Consolidated Plan identified the provision of affordable housing as a
priority need in the City of Omaha; and,
WHEREAS, the Consolidated Plan includes the Omaha 100 Incorporated program as a
project to be funded during 1998; and,
WHEREAS, it is in the best interests of the City of Omaha and the residents thereof that the
City enter into an Agreement with Omaha 100 Incorporated to provide administrative funding
support for housing development in the amount of$40,000.00.
NOW, THEREFORE, in consideration of these mutual covenants, the parties do hereby
agree as follows:
SECTION 1. DEFINITIONS -ABBREVIATIONS
1.1 "City" shall mean-the City of Omaha, a Nebraska Municipal Corporation.
•
1.2 "Contractor" shall mean - Omaha 100 Incorporated (OI), a Nebraska Non-Profit
Corporation, 2424 Cuming Street, Omaha,Nebraska 68131 (see Exhibit "A").
1.3 "Director" shall mean-the Planning Department Director of the City of Omaha.
1.4 "Recipient" shall mean -the City of Omaha.
1.5 "Subrecipient" shall mean - a public or private nonprofit agency, authority or
organization receiving CDBG funds to undertake eligible activities. In this
Agreement, the subrecipient is Omaha 100 Incorporated.
1.6 "HUD" shall mean -the U.S. Department of Housing and Urban Development.
1.7 "Community Development Block Grant (CDBG)" shall mean - the program
conducted under the provisions of the Housing and Community Development Act of
1974, as amended(42 U.S.C. 5301 et.seq.), and the Code of Federal Regulations (24
CFR Part 570).
1.8 "CDBG Funds" shall mean - the portion of the Community Development Block
Grant awarded to the City as may be available during Program Year 1998 for the use
specified herein, in an amount not to exceed $40,000.00, subject to the terms,
conditions, and requirements of said Grant.
1.9 "Program Income" shall mean - gross income received by the Recipient or
Subrecipient directly generated from the use of CDBG funds. When such income is
generated by an activity that is only partially assisted with CDBG funds, the income
shall be prorated to reflect the percentage of CDBG funds used. (See Exhibit "B".)
1.10 "Low Income" shall mean - family or individual whose total annual household
income does not exceed 80% of the "Median Income by Family Size" as published
by HUD, and as further updated and revised by HUD to reflect the current or most
recent income level statistics. (See Exhibit "C")
SECTION 2. DUTIES AND CONDITIONS OF CITY FINANCING
2.1 Subject to and conditioned upon actual receipt of same, the City agrees to make
available to the Contractor$40,000.00 in CDBG funds for the purposes set forth in
this Agreement, and as detailed in "Scope of Work" (see Exhibit "D") incorporated
herein by this reference.
2.1.1 City funding pursuant to this Section shall be contingent upon receipt of and
subject to the availability of CDBG funds in amounts adequate to meet any
contractual obligations in force upon the date of execution of this Agreement
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i
as well as this proposed obligation. Should adequate funding not be
available,the City shall notify the Contractor as soon as reasonably possibly.
At such time, the responsibilities of the Contractor under Section 3 of this
Agreement shall be released,the provisions of Section 6,Paragraph 6.10 will
be exercised and the Agreement will be terminated.
2.1.2 The Contractor may not request disbursement of funds under this Agreement
until the funds are needed for payment of eligible costs based upon the value
of the construction, administration,or professional services work completed
at the time the payment request is made.
2.2 The City shall review and monitor the quarterly reports that identify the progress/
accomplishments of the Contractor, on the activities approved by the City Planning
Department and included in this Agreement.
2.3 The City shall prepare quarterly payment vouchers for the OI, based upon the
Contractor's quarterly financial report and request for payment.
SECTION 3. DUTIES AND RESPONSIBILITIES OF THE CONTRACTOR
3.1 The Contractor does hereby certify, contract and agree that any and all funding
obtained or made available hereunder shall be used solely and exclusively for the
express purpose as outlined in the "Scope of Work" (see Exhibit "D") in strict
compliance with this Agreement.
3.2 The Contractor shall comply with the OI operating budget,attached hereto as Exhibit
"E", which indicates all proposed expenditures and sources of revenue for 1998.
3.3 The Contractor shall submit a quarterly progress report to the City of Omaha Director
of Planning. This progress report will delineate OI accomplishments for the previous
90-day period on the specific activities approved by the City Planning Department.
3.4 The Contractor shall submit a quarterly financial report (income statement)
delineating the revenue and line item expenditures for Omaha 100 Incorporated. In
addition, a quarterly check register is to be submitted listing each expenditure by
check number, payee, date, and amount.
3.5 The Contractor shall comply with all provisions and regulations of the Community
Development Block Grant Program and have an annual audit completed in
compliance with OMB Circular A-133. The auditor shall determine the appropriate
type of audit to be conducted; i.e. limited scope or full compliance. A single audit
is not an allowable expense unless the subrecipient expends total Federal funds over
$300,000.00 in each fiscal year. A limited-scope audit may be allowable provided
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.
the auditor conducts the audit in accordance with generally accepted auditing
standards and the subrecipient expends less than $300,000.00 in each fiscal year.
OMB Circular A-133 is attached as Exhibit "F".
3.6 The Contractor specifically hereby states, agrees and certifies that it is familiar with
the limited purpose set forth in the Federal Laws, Rules and Regulations, and in the
laws of the State of Nebraska,for which personal information requested may be used
and that the information received will be used solely for those limited purposes and
not to harass, degrade or humiliate any person. The information released shall be
used for the limited purpose stated, and the Contractor further agrees to indemnify
and hold harmless the City of Omaha for any liability arising out of the improper use
by the Contractor of information provided.
3.7 The Contractor and Subcontractors shall maintain such records and accounts,
including property,personnel and financial records, as are deemed necessary by the
City to assure a proper accounting for all expenses. The Comptroller General of the
United States, or any of their duly authorized representatives, or any duly authorized
representatives of the City of Omaha, as approved by the Planning Director, shall
have access to any books,documents,papers,records and accounts of the Contractor
or Subcontractors which are directly pertinent to this project for the purpose of
making audit, examination, excerpts and transcriptions. Such records and accounts
shall be retained for five years from the contract period completion. Any contract
entered into by the Contractor with any Subcontractors shall include this Section to
ensure said access:
3.8 Any program income received will be returned to the City of Omaha within thirty
(30) days of receipt.
SECTION 4. TERM OF THE AGREEMENT
This Agreement shall be in full force and effect from April 1, 1998 through and including
March 31, 1999.
SECTION 5. CONSIDERATION
5.1 In consideration of the services herein provided, the City agrees to pay OI the sum
of $40,000.00 from Community Development Block Grant,Fund 193, Organization
Number 8327, Housing Development.
5.1.1 Reimbursement shall be on a quarterly basis for the attached budget line item
expenditures. Payments shall be made on the basis of quarterly requests for
payment and shall be reimbursements for actual expenditures. The Annual
Operating Budget is attached as Exhibit "E".
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5.1.2 Quarterly billing will be submitted by OI with the quarterly financial report.
The quarterly billing and financial report is due not more than fifteen (15)
days following each quarterly report period.
5.1.3 Actual expenses reimbursed to OI will not exceed$40,000.00 for the term of
this Agreement.
SECTION 6. PROVISIONS OF THE AGREEMENT
6.1 Equal Employment Opportunity Section 3 Clause. Attached hereto as Exhibits "G"
and "H", and made a part hereof by this reference, are the equal employment
provisions of this Agreement.
6.2 Non-Discrimination. The Contractor shall not,in the performance of this Agreement,
discriminate or permit discrimination in violation of federal or state laws or local
ordinances because of race, color, handicap, familial status, sex, age, political or
religious opinions, affiliations or national origin.
6.3 Captions. Captions used in this Agreement are for convenience and are not used in
the construction of this Agreement.
6.4 Applicable Law. Parties to this Agreement shall conform with all existing and
applicable City ordinances,resolutions, state laws, federal laws, and all existing and
applicable rules and regulations. Nebraska law will govern the terms and the
performance under this Agreement.
6.5 Interest of the City. Pursuant to Section 8.05 of the Home Rule Charter, no elected
official or any officer or employee of the City shall have a financial interest, direct
or indirect, in any City agreement. Any violation of this section with the knowledge
of the person or corporation contracting with the City shall render the Agreement
voidable by the Mayor or Council.
6.6 Merger. This Agreement shall not be merged into any other oral or written
agreement, lease or deed of any type.
6.7 Modification. This Agreement contains the entire agreement of the parties. No
representations were made or relied upon by either party other than those that are
expressly set forth herein. No agent,employee,or other representative of either party
is empowered to alter any of the terms herein unless done in writing and signed by
an authorized officer of the respective parties, pursuant to Section 10-142 of the
Omaha Municipal Code.
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6.8 Assignment. The Contractor may not assign its rights or obligations under this
Agreement without the express prior written consent of the City.
6.9 Strict Compliance. All provisions of this Agreement and each and every document
that shall be attached shall be strictly complied with as written, and no substitution
or change shall be made except upon written direction from authorized
representatives of the parties.
6.10 Termination. This Agreement may be suspended or terminated in accordance with
24 CFR 85.43,Enforcement or 24 CFR 85.44,Termination for Convenience(Exhibit
"I"). Upon termination of this Agreement all funds and interest in any account
hereunder shall become the property of the City and shall be returned to the City.
6.11 Reversion of Assets. Upon the expiration of this Agreement the Contractor shall
transfer to the City of Omaha any CDBG funds on hand at the time of expiration and
any accounts receivable attributable to the use of CDBG funds. Additionally, the
Contractor shall ensure that any real property under the Contractor's control that was
acquired or improved in whole or in part with CDBG funds in excess of$25,000.00
is either:
(i) Used to meet one of the national objectives in 24 CFR 570.208 until
five years after expiration of the Agreement,or such longer period of
time as determined appropriate by the City; or,
(ii) Is disposed of in a manner which results in the City being reimbursed
in the amount of the current fair market value of the property less any
portion thereof attributable to expenditures of non-CDBG funds for
acquisition of,or improvement to,the property. Such reimbursement
is not required after the period of time specified in accordance with
(i) above.
6.12 Indemnification. The Contractor shall indemnify and hold the City harmless from
and against: (1)any and all claims arising from contracts between the Contractor and
third parties made to effectuate the purposes of this Agreement; and (2) any and all
claims, liabilities or damages arising from the preparation or presentation of any of
the work covered by this Agreement.
6.13 Default. If, through any cause, the Contractor shall fail to fulfill in a timely and
proper manner any obligations under this Agreement,or violate any of the covenants,
representations or agreements hereof,the City may upon written notice terminate this
Agreement or such parts thereof as to this Agreement, and may hold the Contractor
liable for any damages caused to the City by reasons of such default and termination.
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6.14 Nebraska Law. This Agreement shall be a contract made under and governed by the
laws of the State of Nebraska.
6.15 Unenforceable Provisions. Any provision of this Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition of enforceability without invalidating the remaining
provisions hereof or affecting the validity or enforceability of such provisions in any
other jurisdiction.
6.16 Disclosure of Lobbying. The Contractor shall certify and disclose,to the best of its
knowledge and belief, that:
(a) No Federal appropriated funds have been paid or will be paid,by or on behalf
of the Contractor,to any person for influencing or attempting to influence an
officer or employee of Congress, or an employee of a Member of Congress
in connection with the awarding of any Federal contract, the making any
Federal grant, the making of any Federal loan, the entering into of any
cooperative agreement,and the extension, continuation,renewal,amendment
or modification of any Federal contract, grant, loan, or cooperative
agreement.
(b) If any funds other than Federal appropriated funds have been paid or will be
paid to any person for influencing or attempting to influence an officer or
employee of any agency, a Member of Congress, an officer or employee of
Congress or an employee of a Member of Congress in connection with this
Federal contract, grant, loan, or cooperative agreement, the Contractor shall
complete and submit Standard Form-LLL, "Disclosure Form to Report
Lobbying", in accordance with its instructions.
(c) The language of this certification be included in the award documents for all
subawards at all tiers, (including subcontracts, subgrants, and contracts under
grants, loans, and cooperative agreements) and that all subrecipients shall
certify and disclose accordingly.
6.17 Subrecipients. The Contractor shall comply with the requirements and the standards
of OMB Circular No. A-122, "Cost Principles for the Nonprofit Organizations"
(Exhibit "J"), and with the requirements of Attachments A, B, C, F, H,N and 0 to
OMB Circular A-110 (Exhibit "K").
6.18. Other Program Requirements. The Contractor shall be required to carry out each
activity of this Agreement in compliance with all Federal laws and regulations
described in Subpart K of the CDBG Program Entitlement Grant Regulations
Handbook 6500 (Exhibit "L").
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SECTION 7. AUTHORIZED REPRESENTATIVES
In further consideration of the mutual covenants herein contained,the parties hereto expressly
agree that for purposes of notice, including legal service of process, during the term of this
Agreement,and for the period of any applicable statute or limitations thereafter,the following named
individuals shall be authorized representatives of the parties:
(1) City of Omaha
Director- Planning Department
Omaha/Douglas Civic Center
1819 Farnam Street
Omaha,NE 68183
(2) Louis A. Wright
Executive Director
Omaha 100 Incorporated
2424 Cuming Street
Omaha,NE 68131
IN WITNESS WHEREOF,the parties have executed this Agreement as of the date indicated
below.
ATTEST: CITY OF
d. .eA.,..--• '
CI RK OF`THE CITY OF OMAHA A
dY OF THE CITY OF OMAHA AT
WITNESS: ' OMAHA 100 INCORPO' ' TED
((-- --?-::.?r, ...176r/
Louis A. Wright
Executive Director
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DateDate
APPROVED AS TO FORM:
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ASSISTANT CITY ATTORNEY DATE
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SCHEDULE OF EXHIBITS
Agreement
Exhibit Location Description
A 1.2 Articles of Incorporation, Corporate Resolution
B 1.9 Definition- Program Income
C 1.10 "Median Income by Family Size"
D 2.1, 3.1 Scope of Work
E 3.2, 5.1.1 Annual Operating Budget
F 3.5 OMB Circular No. A-133
G 6.1 Equal Employment Opportunity Clause
H 6.1 Affirmative Action Plan
I 6.10 Termination- CFR 85.43 and CFR 85.44
J 6.17 OMB Circular No. A-122
K 6.17 OMB Circular No.A-110,Attachments A,B, C,F,H,N, 0
L 6.18 Other Program Requirements - Handbook 6500 Subpart K
Exhibits identified herein are made a part hereof by reference and are a part of the provisions of the
Agreement. Exhibits B, and F through L are on file in the Planning Department.
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SENT BY:OMAHA I00 CUMING ST ; 4—2?—95 8:19AM ; 40234232??
. '• • • • I - CCITT 63;# 2
EXHIBIT "A"
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OMAHA 100 INCORPORATED
filed Articles. of Incorporation with its
registered office located in Omaha,
Nebraska, in this office As a nonprofit
corporation on November 19, 1990.
I further certifythat said corporation
is in good standing as of this date - - :
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• : L NOV 1 9 1990
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N'1l 3' ARTICLES OF INCORPORATION SS
SECitt a ARY S OrFiCE
OF Fileda;;a recorded on lrn moil
OMAHA 100 INCORPORATED Pale 0 Ss
aet.
• a.
C)
- ! of Sate
ARTICLE I By r\ .�
NAME
The name of the Corporation is OMAHA 100 Incorporated.
• ARTICLE II
DURATION
The period of the Corporation' s existence is perpetual .
ARTICLE III
PURPOSES
•
The Corporation is organized exclusively for charitable
and educational purposes . These purposes are:
A. To obtain, solicit, facilitate, encourage and
otherwise provide financial and funding assistance for
non-profit housing groups; to act as a conduit for
contriubtion, financing, technical advice and other
assistance from private and - public institutions for
impoverished areas ; and generally to do any and all
things to enhance the overall quality of housing in
impoverished neighborhoods .
` B . To transact any and all lawful business for
which nonprofit corporations may be incorporated under
the laws of the State of Nebraska, to the extent that
such business may be conducted by organizations that
qualify as exempt organizations urdor section 501(c) (3 )
of the Internal Revenue Code of 1986 , as amended, or the
corresponding provision of any future federal revenue
Law, hereinafter referred to as the "Code . "
C . To do everything necessary, proper , advisable
and convenient for the accomplishment of the purposes
set forth above, and to do all other things incidental
thereto or connected therewith which are not forbidden
by the laws of the State of Nebraska or by these
Articles of Incorporation .
411
7 4,
BOOKIL3PAGEnt
A
ARTICLE IV •
POWERS
The Corporation shall have and exercise all powers and
rights conferred upon nonprofit corporations by the Nebraska
Nonprofit Corporation Act and any enlargement of such powers
conferred by subsequent legislative acts . In addition, the
Corporation shall have and exercise all powers and rights not
otherwise denied nonprofit corporations by the laws of the
State of Nebraska which are necessary, proper, advisable or
convenient for the accomplishment of the purposes set forth
• above in Article III . Notwithstanding any other provisions
of these Articles , the Corporation shall not carry on any
other activities not permitted to be carried on by (a) a
corporation that qualifies as an exempt organization under
section 501(c) (3) of the Code or (b) a corporation,
contributions to which are deductible under section 170 (c) (2)
of the Code .
In addition to the foregoing :
1 . The .Corporation shall distribute its income
for each taxable year at such time and in such manner as
not to become subject to the tax on undistributed income
imposed by section 4942 of the Code .
2 . The Corporation shall not engage in any act of
self-dealing as defined in section 4941(d) of the Code .
3 . The Corporation shall not retain any excess
business holdings as defined in section 4943 (c) of the
Code .
4 . The Corporation shall not make any investments
in such manner as to subject it to tax under section
4944 of the Code.
5 . The Corporation shall not make any taxable
expenditures as defined in section 4945 (d) of the Code .
ARTICLE V
BYLAWS TO REGULATE INTERNAL AFFAIRS
The Bylaws of the Corporation shall regulate the
internal affairs of the Corporation, except any provisions
hereinafter set forth for the distribution of assets on
dissolution or final liquidation.
-2-
800K:MilAGEATI.
ARTICLE VI
DISTRIBUTION OF ASSETS ON
PISSOLUTION OR FINAL LIOUIDATION
The Corporation is irrevocably dedicated to and operated
exclusively for the purposes above stated, and no part of the
net income of the Corporation shall be distributed or inure
to the benefit of any private individual; provided, however,
that the Corporation may pay reasonable compensation for
services rendered and make payments and distributions which
further the purposes set forth in Article III . Upon
dissolution of the Corporation, the Board of Directors shall ,
after paying or making provisions for the payment of all
liabilities of the Corporation, dispose of all of the assets
of the Corporation exclusively for the purposes of the
Corporation in such manner as shall at that time qualify
under section 501(c) (3) of the Code, or to such organization
or organizations as shall at that time qualify as an exempt
organization or organizations under section 501(c) (3) of the
Code, or to the federal government, or to a state or local
government, for a public purpose, as the Board of Directors
shall determine .
ARTICLE VII
NO POWER TO INFLUENCE LEGISLATION
The Corporation shall not participate in any political
campaign for or against any candidate for public office or
devote a substantial part of its activities to influencing
legislation.
ARTICLE VIII
REGISTERED OFFICE AND REGISTERED AGENT
The street address of the initial registered office of
the Corporation is 1650 Farnam Street, Omaha, Nebraska 68102
and the name of its registered agent at such address is
P. Thomas Pogge.
ARTICLE IX
INITIAL BOARD OF DIRECTORS
The number of directors constituting the initial Board
of Directors shall be three and the names and street addresses
BOOK3-Y3FACI41--D
of the persons who are to serve as the - initial directors are
as follows :
Janet Otepka Charles Stoudamire
673 North 57th Street 106 South 15th Street
Omaha, Nebraska 63132 Room 800
Omaha, Nebraska 68102
Richard Hayes
5445 .Hanover Plaza
Omaha, Nebraska 68152
ARTICLE X
REMOVAL OF DIRECTORS
At any meeting of the Board of Directors, any one or
more of the directors may be removed from the Board of
Directors with or without cause by a vote of the majority of
the directors , and a successor may be elected in the manner
specified in the Bylaws . Any director whose removal has been
proposed shall be given an opportunity to be heard at the
meeting .
ARTICLE XI
NO MEMBERS
The Corporation shall have no members .
ARTICLE XII
NAME AND ADDRESS OF INCORPORATORS
The names and addresses of the Incorporators are :
Sister Marilyn Ross P. Thomas Pogge
3014 North 45th Street 1650 Farnam Street
Omaha, Nebraka 68104 Omaha , Nebraska 68102
DATED this /4 day of November , 1990 .
•
Sister MarilynAass ,
I nca,Lp t o r
./
P. Th Pogge,
Incorporator
-4-
AMENDED AND RESTATED
BYLAWS
OF
OMAHA 100 INCORPORATED
j. ARTICLE I
OFFICES
The principal office of the Corporation in the State of Nebraska shall be located in the
City of Omaha, County of Douglas. The Corporation may have such other offices, either within
or without the State of Nebraska as the Board of Directors may determine or as the affairs of
the Corporation may require from time to time.
The Corporation shall have and continuously maintain in the State of Nebraska a
registered office, and a registered agent whose office is identical with such registered office, as
required by the Nebraska Nonprofit Corporation Act. The registered office may be, but need
not be, identical with the principal office in the State of Nebraska, and the address of the
registered office may be changed from time to time by the Board of Directors.
ARTICLE II
BOARD OF DIRECTORS
Section 2.1. General Powers. The business and affairs of the Corporation shall be
managed under the direction of its Board of Directors. The original members of the Board of
Directors shall be those individuals as designated in the Articles of Incorporation dated
November 16, 1990, whose terms shall be as set forth therein. Directors need not be residents
of the State of Nebraska. The Board of Directors shall have full power to act on behalf of the
Corporation as permitted by the statutes of the State of Nebraska, the Articles of Incorporation
and these Bylaws, as shall be amended from time to time.
Section 2.2. Composition of the Board of Directors. The Board of Directors shall be
composed of such persons as may be elected by the Board of Directors.
The Board of Directors shall be composed of voting and nonvoting members. Nonvoting
members shall be designated by a resolution of the Board of Directors. Such nonvoting
members shall serve in an advisory capacity and shall not be eligible to vote at any meeting of
the Board of Directors, hold office, or exercise any powers reserved for the Directors as set
forth in these Bylaws or the Articles of Incorporation.
01/156959.1
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Section 2.3. Number, Tenure and Qualification. The number of Directors shall not be
less than three. Each Director shall hold office for a term of three years or until his or her
successors shall have been elected or qualified; provided, however, that the Directors
constituting the original Board of Directors shall hold office for the term specified in the Articles
of Incorporation. The membership of the Board of Directors shall be divided into classes so that
the term of approximately one-third of each of the Board shall expire each year. At each annual
meeting of the Board of Directors, one class shall be elected to serve on the Board of Directors
for a term of three years from the date of the annual meeting or until the respective successors
shall be elected.
Section 2.4. Regular Meetings. Regular meetings of the Board of Directors shall be
held at least quarterly in January, March, \\May, July, September and \\November. The \\Lily
meeting shall be the annual meeting of the Board of Directors. The Board of Directors may
provide by resolution the time and place, either within or without the State of Nebraska, for the
holding of additional regular meetings of the Board without other notice than such resolution.
Section 2.5. Special Meetings. Special meetings of the Board of Directors may be
called by or at the request of the Chairman or any two Directors. The person or persons
authorized to call special meetings of the Board may fix any place, either within or without the
State of Nebraska, as the place for holding any special meeting of the Board called by them.
Section 2.6. Notice. Notice stating the date, place and hour of any regular or special
meeting of the Board of Directors shall be given at least 10 days previously thereto by written
notice delivered personally or sent by mail or telegram to each Director at his address as shown
by the records of the Corporation. If mailed, such notice shall be deemed to be delivered when
deposited in the United States mail in a sealed envelope so addressed, with postage thereon
prepaid. If notice be given by telegram, such notice shall be deemed to be delivered when the
telegram is delivered to the telegraph company. Any Director may waive notice of any meeting.
The attendance of a Director at any meeting shall constitute a waiver of notice of such meeting,
except where a Director attends a meeting for the express purpose of objecting to the transaction
of any business because the meeting is not lawfully called or convened. Neither the business
to be transacted at, nor the purpose of, any regular or special meeting of the Board need be
specified in the notice or waiver of notice of such meeting, unless specifically required by law
or by these Bylaws.
Section 2.7. Quorum. One-third of the voting members of the Board of Directors shall
constitute a quorum for the transaction of business at any meeting of the Board.
Section 2.8. Manner of Acting. The act of a majority of the voting Directors present
at a meeting at which a quorum is present shall be the act of the Board of Directors, unless the
act of a greater number is required by law or by these Bylaws.
Section 2.9. Proxies. If unable to attend a meeting of the Board of Directors, each
Director is expected to have a representative duly empowered to function on behalf of that
01/156959.1 2
Director at all meetings. At all meetings of the Board of Directors, a Director may vote in
person or by proxy executed by his duly authorized representative. The name of the
representative or the proxy vote shall be filed with the Secretary before or at the time of the
meeting.
Section 2.10. Compensation. Directors, as such, shall not receive any stated salaries
for their. services\\.
Section 2.11. Vacancies. Any vacancy occurring in the Board of Directors and any
,directorship to be filled by reason of an increase in the number of Directors shall be filled by
the Board of Directors. A Director elected to fill a vacancy shall be elected for the unexpired
term of his predecessor in office.
Section 2.12. Informal Action by Directors. Any action required by law to be taken
at a meeting of Directors, or any action which may be taken at a meeting of Directors, may be
taken without a meeting if a consent in writing, setting forth the action so taken, shall be signed
by all of the Directors.
Section 2.13. Telephonic Meetings. Members of the Board of Directors, or any
committee designated by the Board of Directors, may participate in a meeting of the Board of
Directors or committee by means of conference telephone or similar communications equipment
by means of which all persons participating in the meeting can hear each other, and participation
in a meeting pursuant to this Section shall constitute presence in person at such meeting.
Section 2.14. I1Operations Committee. The Board of Directors shall, by resolution
adopted by a majority of the full Board of Directors, designate an \\Operations Committee
consisting of the Chairman of the Corporation, the Vice Chairman, the \\Secretary, the
Executive Director of the Corporation and two or more of the Directors of the Corporation as
designated by the Board of Directors, which Committee shall have and may exercise the power
of the Board of Directors in the management of the business and affairs of the Corporation and
shall have power to authorize the seal of the Corporation to be affixed to all papers which may
require it and any other powers provided by a resolution of the Board of Directors of the
Corporation; however, the \\Operations Committee shall not have the power to amend the
Articles of Incorporation or these Bylaws of the Corporation, adopt a plan of merger or
consolidation, authorize the sale, lease, exchange, mortgage, pledge or other disposition of all
or substantially all of the property and assets of the Corporation otherwise than in the usual and
regular course of business, authorize a voluntary dissolution of the Corporation or a revocation
thereof, adopt a plan for the distribution of the assets of the Corporation or amend, alter or
repeal any resolution of the Board of Directors which, by its terms, provides that it shall not be
amended, altered or repealed by the Committee. The \\Operations Committee may make rules
for the conduct of its business and may appoint such committees and assistants as it shall from
time to time deem necessary. A majority of the members of the \\Operations Committee shall
constitute a quorum. The \\Operations Committee shall keep written minutes of its transactions
and report such minutes to the Board of Directors at the next regular meeting. The designation
01/156959.1 3
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time deem necessary. A majority of the members of the Executive Committee shall constitute
a quorum. The Executive Committee shall keep written minutes of its transactions and report
such minutes to the Board of Directors at the next regular meeting. The designation of the
Executive Committee and the delegation thereto of the authority of the Board of Directors shall
not operate to relieve the Board of Directors, or any member thereof, of any responsibility
imposed by law.
The Board of Directors may establish such other committees of the Board of Directors
hiving such duties and powers as the Board of Directors may deem appropriate, but in no event
shalt any such committee have any of the powers which may not be granted to the Executive
Committer.
ARTICLE III
OFFICERS
Section 3.1. Officers. The officers of the Corporation shall be a \\Chairman, one or
more Vice \\Chairmen, as may be determined from time to time by the Board of Directors, an
Executive Director, a Treasurer, and a Secretary\\. The Board of Directors may elect or appoint
such other officers, including one or more Assistant Secretaries and one or more Assistant
Treasurers, as it sha11 deem desirable, such officers to have the authority to perform the duties
prescribed from time to time by the Board of Directors. Any two or more offices may be held
by the same person, except the offices of\\Chairman and Secretary and except the offices of
\\Chairman and Vice\\Chairman.
Section 3.2. Election and Term of Office. \\Upon nomination by the members of the
Operations Committee the officers of the Corporation shall be elected annually by the Board
of Directors at the regular April meeting of the Board of Directors. If more than one person
is nominated_for an office, the election shall be by ballot., If the election of officers shall not
be held at such meeting, such election shall be held as soon thereafter as is convenient.- New
offices may be created and filled at any meeting of the Board of Directors. Each officer shall
hold office until his successor shall have been duly elected and shall have qualified.
Section 3.3. Removal. Any officer elected or appointed by the Board of Directors may
be removed by the Board of Directors whenever in its judgment the best interests of the
Corporation would be served thereby; however, such removal shall be without prejudice to the
contract rights, if any, of the officer so removed.
•
Section 3.4. Vacancies. A vacancy in any office because of death, resignation, removal,
disqualification or otherwise may be filled by the Board of Directors for the unexpired portion
of the term.
Section 3.5. l lauzirrnan_ The\\Chairman shall be the principal executive officer of the
Corporation and shall in general supervise and control all of the business and affairs of the
41/10SS78-I
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Corporation. He shall preside at all meetings of the Board of Directors. He may sign, with the
Secretary or any other proper officer of the Corporation authorized by the Board of Directors,
any deeds, mortgages, bonds, contracts or other instruments which the Board of Directors has
authorized to be executed, except in cases where the signing and execution thereof shall be
expressly delegated by the Board of Directors or by these Bylaws or by statute to some other
officer or agent of the Corporation; and, in general, he shall perform all duties incident to the
office of\\Chairman and such other duties as may be prescribed by the Board of Directors from
time to time.
I
Section 3.6. Vice {1Cfzairrnan(s), In the absence of the 11 Chairman or in the event of
his inability or refusal,to act, the Vice\\Chairman (or in the event there be more than one Vice
\\ Chairman, the Vice\\Chairman in the order of their election) shall perform the duties of the
\\Chairman and, when so acting, shall have all the powers of and be subject to all the
restrictions upon the\\Chairman. Any Vice\\Chairman shall perform such other duties as from
time to time may be assigned to him by the \\Chairman or by the Board of Directors.
Section 3.7. Executive Director. The Executive Director will be iesponsible for fund
raising, providing technical assistance, making recommendations to the Board of Directors and
such other duties as shall be delegated to the Executive Director by the Board of Directors.
Section 3.8. Treasurer. The Treasurer of the Board shall also act as Treasurer of the
Corporation's Finance Committee. If required by the Board of Directors, the Treasurer shall
eve a bond for the faithful discharge of his duties in such sum and with such surety or sureties
as the Board of Directors shall determine. He shall have charge and custody of, and be
iesponsible for, all funds and securities of the Corporation, receive and give receipts for moneys
due and payable to the Corporation from any source whatsoever and deposit all such moneys in
the name of the Corporation in such banks, trust companies or other depositories as shall be
selected in accordance with the provisions of Article VU of these Bylaws and, in general,.
perform all the duties incident to the office of Treasurer and such other duties as from time to '
time may be assigned to him by the \\Chairman or by the Board of Directors. _
Section 3.9. Secretary. The Secretary shall cause the minutes of the meetings of the
Board of Directors to be kept in. one or more books provided for that purpose, see that all
notices are duly given in accordance with the provisions of these Bylaws or as required by law,
be custodian of the corporate records and of the seal of the Corporation and see that the seal of
the Corporation is affixed to all documents, the execution of which on behalf of the Corporation
under its seal is duly authorized in accordance with the provisions of these Bylaws and, in
general, perform all duties incident to the office of Secretary and such other duties as from time
to time may be assigned to him by the \\Chairman or by the Board of Directors.
Section 3.10. Assistant Treasurers and Assistant Secretaries. If required by the Board
of Directors, the Assistant Treasurers shall give bonds for the faithful discharge of their duties
in such sums and with such sureties as the Board of Directors shall determine. The Assistant
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01n05571.1 _
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Treasurers and Assistant Secretaries, in general, shall perform such duties as shall be assigned
to them by the Treasurer or the Secretary or by the \\Chairman or the Board of Directors.
ARTICLE IV
•
COMMITTEES
i Section 4.1. Committees of Directors. The Board of Directors, by resolution adopted
by a majority of the Directors in office, may designate and appoint one or more committers\\ •
(such as the Operations Comrni ev Finance Committee, Loan Approval Committee a d
Executive Committee) each of which shall consist of two or more Directors, which committees,
to the extent provided in said resolution, shall have and exercise the authority of the Board of
Directors in the management of the Corporation; provided, however, that no such committee
shall have the authority of the Board of Directors in reference to amending, altering or repealing
the Bylaws, electing, appointing or removing any member of any such committee or any
Director or officer of the Corporation, amending the Articles of Incorporation, adopting a plan
or merger or adopting a plan of consolidation with another corporation; authoring the sale,
lease, exchange or mortgage of all or substantially all of the property and assets of the
Corporation, authorizing the voluntary dissolution of the Corporation or revolting proceedings
therefor; adopting a plan for the distribution of the accftts of the Corporation or amending,
altering or repealing any resolution of the Board of Directors which, by its terms, provides that
it shall not be amended, altered or repealed by such committee. The desi gnation and
appointment of any such committee and the delegation thereto of authority shall not operate to
relieve the Board of Directors or any individual Director of any responsibility imposed upon it '
or him by law.
•
Section 4.2. Other Committees. Other committees not having and exercising the
authority of the Board of Directors in the management of the Corporation may be designated_by
a resolution adopted by a majority of the Directors present at a meeting at which a quorum is
present. Except as otherwise provided in such resolution, members of each such committee shall
be directors of the Corporation, and the \\Chairman of the Corporation shall appoint the
members thereof. Any member thereof may be removed by the person or persons authorized
to appoint such member whenever in their judgment the best interests of the Corporation shall
be served by such removal.
Section 4.3. Term of Office. \\Exc as otherwise stated in this Section, each member
of a committee shalt continue as such until the next annual meeting of the Corporation and until
his successor is appointed, unless the committee shall be sooner terminated, unless such member
be removed from such committee or unless such member shall cease to qualify as a member
thereof. Notwithstanding_the foregoing the chairman of the °aerations Committee and the
chairman of the Finance Committee shall hold office for a term of two ears. The members of
t _O rations Committee nance Committee shall have staggering three vear terms. The
members of those committees shall be divided into classes so that the term of a roximately
OL105578.1 6
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one-third of each of the members shall ex ire each ear. At each annual meetin of the
orporation one class shall be elected to serve on the Finance Committee and baeratry n
Committee fora term of three years from the date of the annual meeting or until the respective
successors shall be elected.
Section 4.4. Chairman. The chairman of each such committer shall be a Director and
shall be appointed chairman by the person or persons authorized to appoint the members thereof.
Section 4.5. Vacancies. Vacancies in the membership of any committee may be filled
by appointments made in the same manner as provided in the case of the original appointments.
Section 4.6. Ouorum. Unless otherwise provided in the resolution of the Board of
Directors designating a committee, a majority of the whole committee shall constitute a quorum,
and the act of a majority of the members present at a meeting at which a quorum is present shall
be the act of the committee.
Section 4.7. Rules. Each committer may adopt rules for its own government not
inconsistent with these Bylaws or with rules adopted by the Board of Directors.
ARTICLE V
CONTRACTS, CHECKS, DEPOSITS, FUNDS AND FUND RAISING
Section 5.i. Contracts. The Board of Directors may authorize any officer or officers,agent or agents of the Corporation, in addition to the officers so authorized by these Bylaws, to
enter into any contract or execute and deliver any instrument in the name of and on behalf of
the Corporation, and such authority may be general or confined to specific instances.
Section 5.2. Checks, Drafts, Etc. All checks, drafts or orders for the payment of
money, notes or other evidences of indebtedness issued in the name of the Corporation than be
approved pursuant to Section 5.3 and signed by such officer or officers, agent or agents of the
Corporation and in such manner as shail from time to time be determined by resolution of the Board of Directors. In the absence of such determination by the Board of Directors, such -
instruments shalt be signed by the Treasurer or an Assistant Treasurer and countersigned by the
11 Chairman or a Vice 11 airman of the Corporation.
Section 5.3. E.rpenses. The Executive Di r ctor of the C oration shall be authorized
to a rove a enditures on behalf of the Co oration for an amount u to S 1 0 . The Board
of Directors further authorizes that expenditures over S1.000.00 mutt receive the signed
a royal of the Chairman of the Finance Committee.
Section tl.544. Deposits. All funds of the Corporation shall be deposited from time to
time to the credit of the Corporation in such banks, trust companies or other depositories as the
Board of Directors may select.
01M15573.1
•
Section \\LS. Gifts. The Board of Directors may accept on behalf of the Corporation
any contribution, gift, bequest or devise for the general purposes or for any•special purpose of
the Corporation. •
Section\\5.6. Loans. No loans shall be contracted on behalf of the Corporation and no '
evidences of indebtedness shall be issued in its name unless authorized by a resolution of the
Board of Directors and adopted by a majoritv_of the participating financial institutions,as listed
in Exhibit A of the Loan Pool Participation Agre°ment. Such authority may be general or
confined to specific instances.
' Section \\5.7. Proxies With Respect to Securities of Other Corporations. Unless
otherwise provided by resolution adopted by the Board of Directors, the \\Chairman or a Vice
\\Chairman may from time to time appoint an attorney or attorneys, or an agent or agents, to
exercise in the name and on behalf of the Corporation the powers and rights which the
Corporation may have as the holder of stock or other securities in any other corporation to vote
or to consent with respect to such stock or. other securities, the \\Chairman or any Vice
\\Chairman may instruct the person or persons so appointed as to the manner of exercising such
powers and rights, and the \\Chairman or any Vice \\Chairman may execute or cause to be
executed in the name and on behalf of the Corporation and under its corporate seal, or
otherwise, all such written proxies, powers of attorney or other written instruments as he may
deem necessary in order that the Corporation may exercise such powers and rights.
ARTICLE VI
BOOKS, RECORDS AND ACCOUNTS
The Corporation shall keep correct and complete books and records of account and shall
also keep minutes of the proceedings of its Board of Directors and committees having any of the
authority of the Board of Directors and shall keep at the registered or principal office a record
giving the names and addresses of the Directors. All books and records of the Corporation may
be inspected by any Director, or his agent or attorney, and by the general public, for any-proper
purpose at any reasonable time. The books of account shall be audited annually as of the end
of its fiscal year by independent certified public accountants retained by the Corporation at its
expense. A copy of such audit report shall be furnished to all members of the Board of
Directors not later than 60 days after the close of the preceding fiscal. year.
ARTICLE VII
EISCAL YEAR
The fiscal year of the Corporation shall be from January to December.
311:055 i8.2 8
ARTICLE MI
BUDGET AND FINANCIAL OPERATION
The financial operation of the Corporation shall be conducted in accordance with a budget
to be submitted by the\\ Chairman to the Board of Directors for their approval.
ARTICLE IX
� INDEMNIFICATION
Section 9.1. Indemnification of Officers, Directors, Employees and Agents Against
Damages for Actions Other Than Actions by or in the Right of the Corporation. The
Corporation shall indemnify any person who was or is a party or is threatened to be made a
party to any threatened,pending or completed action, suit or proceeding, whether civil, criminal,
administrative or investigative, other than an action by or in the right of the Corporation, by
reason of the fact that he is or was a Director, officer, employee or agent of the Corporation,
or is or was serving at the request of the Corporation as a Director, officer, employee or agent
of the Corporation, partnership, joint venture, trust or other enterprise, against expenses,
including attorneys' fees, judgments, fines and amounts paid in settlement actually and
reasonably incurred by him in connection with such action, suit or proceeding if he acted in
good faith and in a manner he reasonably believed to be in or not opposed to the best interests
of the Corporation and, with respect to any criminal action or proceeding, had no reasonable
cause to believe his conduct was unlawful. The termination of any action, suit or proceeding
by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent
shall not, of itself, create a presumption that the person did not act in good faith and in a manner
which he reasonably believed to be in or not opposed to the best interests of the Corporation
and, with respect to any criminal action or procmding, had reasonable cause to believe that his
conduct was unlawful.
Section 9.2. Indemnification of Officers, Directors, Employees and Agents for Actions
by or in the Right of the Corporation. The Corporation shaft indemnify any person who was
or is a party or is threatened to be made a party to any threatened, pending or completed action -
or suit by or in the right of the Corporation to procure a judgment in its favor by reason of the
fact that he is or was a Director, officer, employee or agent of the Corporation, or is or was
serving at the request of the Corporation as a Director, officer, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise, against expenses, including
attorneys' fees, actually and reasonably incurred by him in connection with the defense or
settlement of such action or suit if he acted in good faith and in a manner he reasonably believed
to be in or not opposed to the best interests of the Corporation, except that no indemnification
shall be made in respect of any claim, issue or matter as to which such person shalt have been
adjudged to be liable for negligence or misconduct in the performance of his duty to the
Corporation unless and only to the extent that the court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability but in view of all.
01110557B_1 9
circumstances of the case, such person is fairly and reasonably entitled to indemnity for such
expenses which such court shall deem proper.
Section 9.3. Indemnification Against Expenses and Attorneys' Fees. To the extent that
a Director, officer, employee or agent of a corporation has been successful on the merits or
otherwise in defense of any action, suit or proceeding referred to in Sections 9.1 and 9.2 of this
Article, or in defense of any claim, issue or matter therein, he shall be indemnified against
expenses, including attorneys' fees, actually and reasonably incurred by him in connection
therewith.
Section 9.4. Determination of Right to Indemnification. Anyindemnificationt„ under
b
Sections 9.1 and 9.2 of this Article, unless ordered by a court, shall made by
ion
only as authorized in the specific case upon a determination that indemnification of the Director,
officer, employee or agent is proper in the circumstances because he has met the app
licab
standard of conduct set forth in Sections 9.1 and 9.2 of this Article. Such determination shall
be made by the Board of Directors by a majority vote of a quorum consisting of Directors who
were not pasties to such action, suit or proceeding or, if such a quorum is not obtainable, or,
even if obtainable, a quorum of disinterested Directors so directs, by independent legal counsel
in a written opinion.
Section 9.5. Indemnification Against Expenses and Attorneys' Fees Prior to Final
Disposition of an Action. Expenses incurred in defending a civil or criminal action, suit or
proceeding may, be paid by the Corporation in advance of the final disposition of such action,
suit or proceeding as authorized in the manner provided in. Section 10.4 of this Article upon
receipt of an undertaking by or on behalf of the Director, officer, employee or agent to repay
such amount unless it shall,ultimately be determined that he is entitled to be indemnified by the
Corporation as authorized in this Article DC.
Section 9.6. Indemnification Provided by This Article Not Exclusive. The
indemnification provided by this Article IX shall not be deemed exclusive of any other rights
to which those indemnified may be entitled under any agreement, vote of disinterested Directors
or otherwise, both as to action in his official capacity and as to action in another capacity while
holding such office, and shall continue as to a person who has ceased to be a Director, officer,
employee or agent and shall inure to the benefit of the heirs, executors and administrators of
such a person.
Section 9.7. Power of Corporation To Maintain Insurance on Behalf of Directors,
Officers, Employees and Agents. The Corporation shall have power to purchase and maintain
insurance on behalf of any person who is or was a Director, officer, employee or agent of the
Corporation against any liability asserted against him and incurred by him in any such capacity
or arising out of his status as such, whether or not the Corporation would have the power to
under the provisions of this Article IX.
indemnify him against such liability
ovta1578.1 10
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ARTICLE X
STAFF AND VOLUNTEERS
The Corporation tall employ a qualified Executive Director and such other staff as chn11
be appropriate to carry out the purposes of the Corporation. Staff members may not be voting
members of the Board of Directors or any other policymaldng body of the Corporation. The
Board of Directors shall adopt written personnel policies and staff responsibilities for the
Corporation. The Board of Directors shall annually review the performance of all staff
personnel. The Corporation shall create, organize, train, supervise and utilize the services of
volunteers to carry out its purposes whenever possible.
ARTICLE XI
WAIVER OF NOTICE
Whenever any notice is required to be given under the provisions of the Nebraska.
Nonprofit Corporation Act or under the provisions of the Articles of Incorporation or these
Bylaws of the Corporation, a waiver thereof in writing signed by the person or persons entitled
to such notice, whether before or after the time stated therein, shall be deemed equivalent to the
giving of such notice.
ARTICLE XII
SEAL
The Board of Directors may provide a corporate seal which shall be circular in form and
shall have inscribed thereon the name of the Corporation, the state of incorporation and the
words "Corporate Seal.'
ARTICT < Min -
AMENDMENTS --
These Bylaws may be altered, amended or repealed at any regular meeting of the Board
of Directors, without notice, or at any special meeting of the Board of Directors if the notice
of such meeting contained a statement of the substance of the proposed amendment.
Dated this \\9th day of\\March. 1995.
ovtasi;s_j 11
OMAHA 100, INCORPORATED
BOARD OF DIRECTORS
Ms. Nancie Blake Telephone: 348-6245
Community Lending Manager Fax: 348-6619
US Bank
1700 Woodmen Tower
Omaha, NE 68102
Mr. Eric Bunderson Telephone: 557-4140
Commercial Real Estate Loan Officer Fax: 557-4155
Douglas County Bank & Trust Co.
6015 N.W. Radial Hwy.
Omaha, NE 68104-3492
Sr. Carolyn Coffey Telephone: 398-6614
Director Fax: 398-6370
Mercy Housing, Midwest Suite 102
7262 Mercy Road
Omaha,Ne 68124-2348
Mr. John Griffith Telephone: 390-5336
Vice President Fax: 390-5328
Commercial Federal Bank
2120 South 72 Street
Omaha, NE 68124
Ms. Carole Woods Harris (Ex-Officio) Telephone: 444-7025
Commissioner Fax: 444-6559
Douglas County Board
Omaha/ Douglas Civic Center
Suite LC2
1819 Farnam Street
Omaha, NE 68183
Mr. Dick Hays Telephone: 572-6721
• 5445 Hanover Plaza Fax: None
Omaha, NE 68152
Ms. Lorrie Henze Telephone: 498-5302
Loan Officer Fax: 498-5346
First National Bank of Omaha
114th & Dodge Street
Omaha, NE 68154
Mr. Robert J. Horak Telephone: 498-5306
Vice President Fax: 498-5327
First National Bank of Omaha
114 & Dodge Street
Omaha, NE 68154
Ms. Kathy Kelley (Ex-Officio) Telephone: 444-6327
Omaha/Douglas Civic Center Fax: 444-6559
1819 Farnam Street, Suite LC2
Omaha, NE 68183
Mr. Tom LaHood Telephone: 556-7195
Vice President Fax: 556-1297
The McCartney Group Inc.
2459 N. 45th Ave
Omaha, NE 68104
Ms.Brenda Lawson Telephone: 399-5003
Sr. Vice President Fax: 399-5057
American National Bank
8990 W. Dodge Street
Omaha, NE 68114
Mr. Michael Maroney Telephone: 451-2939
Director Fax: 451-2595
New Development Corporation
3147 Ames Ave
Omaha, NE 68111
Ms. Debbie Newkirk Telephone: 449-0902
Vice President Fax: 344-0173
Security National Bank of Omaha
3500 Farnam Street
Omaha, NE 68131
2
Mr. Robert Peters (Ex-Officio) Telephone: 444-5157
Assistant Planning Director Fax: 444-6140
City of Omaha
Omaha/Douglas Civic Center
1819 Farnam Street
Omaha, NE 68183
Mr. David Porter (Ex-Officio) Telephone: 457-4678
Director Fax: 457-5584
Housing and Neighborhood Developers
2319 Ogden Street
Omaha, NE 68110
Mr. Liston Rose Telephone: 348-2922
Community Development Coordinator Fax: 348-6619
US Bank
1700 Woodmen Tower
Omaha, NE 68102
Sr. Marilyn Ross (Ex-Officio) Telephone: 453-6100
Executive Director Fax: 451-7187
Holy Name Housing Corporation
3014 North 45 Street
Omaha, NE 68104
Ms. Jill Thompson Telephone: (515) 281-2854
Assistant Vice President Fax: (515) 281-2168
AmerUs Bank
1901 Bell Avenue, Suite 15
Des Moines, IA 50315
Mr. John Vaughn Telephone: 399-8400
President & CEO Fax: 397-3461
First American Savings Bank
3540 South 84 Street
Omaha, NE 68183
3 * 0
* * * * * * * * * * * * * * * * * * * * * * * * * * * *
Mr. Louis Wright Telephone: 342-3773
Executive Director Fax: 342-3277
Omaha 100, Incorporated
2424 Cuming Street
Omaha, NE 68131
Mr. P.Thomas Pogge
Legal Counsel Telephone: 733-2829
5600 S. 42nd Street Fax: 733-1264
Omaha, NE 68107
Update 1/15/98
4 2C>
RESOLUTION OF THE BOARD OF DIRECTORS
OF
OMAHA 100,INCORPORATED
I do hereby certify that I am a duly elected Officer of Omaha 100, Incorporated, Nebraska
non-profit organization authorized to do business in the State of Nebraska, and that the
following is a copy of the Resolution adopted at a meeting of the Board of Directors of said
organization,held mgrc;l,_ l% , 1998.
WHEREAS Omaha 100, Incorporated is committed providing Mortgage financing and
supportive services committed to the Omaha Community:
WBEREA$ me Organization and the City of Omaha have negotiated an agreement for
increasing home ownership activities within the Enterprise Community.
NOW,TBEREFOREREITRESOLVED that the Corporation does hereby agree to enter into an
Agreement with the City of Omaha to enhance Omaha 100's lending program by
increasing marketing to potential home buyers, expediting lending process and offering
additional counseling to prospective clients
BE IT FURTHER RESOLVED that the Board Chair and all Officers of the Corporation are
hereby authorized to take all such actions,including the execution of an Agreement and
any security documents in favor of the City Omaha,as shall be necessary or appropriate
to carry out the purpose and intent of the Resolution
I do hereby further certify that since the adoption of said Resolution, it has neither been
revoked nor amended;and
I do hereby further certify that the following individuals have been duly elected or
appointed to the respective offices listed and currently hold such positions as of the date
signed.
John Griffith Chairperson
Nancie Blake Vice Chairperson
Lurie Henze Vice Chairperson
Debbie Newkirk Treasurer
Richard Hayes Secretary
Louis Wright Executive Director
Signed this dolt day of /l i°rct, , 1998
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Omaha 100, Incorporated •
Scope of Work
Omaha 100, Incorporated was approved as a 501(c)(3) non-profit on March 22,1991
(Exhibit A). Established through the leadership of Holy Name Housing Corporation,
Omaha 100 is based on a model of community development intermediaries successful
in other cities across the country. The need for such an intermediary was evident from
the experience of HNHC in successfully developing affordable housing.
As a community development intermediary, Omaha 100 will:
1) Provide homeownership opportunities, which enables low and moderate income
borrowers to purchase and occupy structurally safe and sanitary homes at an affordable
cost; and
2) Provide technical assistance to neighborhood groups and community development
organizations, creating or increasing the capacity of an organization to carry on
development activities; and
3) Foster public and private sector partnerships in order to create access to capital
which will support development organizations and specific projects.
The Board of Directors of Omaha 100 will manage the business and affairs of the
corporation and set policy for the organization.
Staff are responsible to conduct or obtain assistance with fund-raising and promotion,
legal work, budget and financial reporting, providing technical assistance and other
administrative functions.
The goals of Omaha 100 are to:
1) Provide technical assistance to non profit developers serving northeast and southeast
Omaha; and
2) Maintain a loan agreement signed by eight (8) lenders who will provide construction
and permanent financing for houses developed by Omaha 100's sponsored agencies;
and
3) Manage an agreement from local lenders for a cash subsidy of$2052.00 for every
unit of affordable housing produced by sponsored non-profit organizations; and
4) Provide mortgage loan counseling services.to'low and moderate income customers;
and
5) Facilitate the financing of NIFA(Nebraska Investment Finance Authority) loans
within the.targeted areas of north and south Omaha, and • _
6) Provide technical assistance to Omaha Community Foundation.
OMAHA 100 OPERATING BUDGET
1998
BUDGET
REVENUE AND SUPPORT
SALE OF HOMES $84, 000 .00
CITY OF OMAHA $40, 000 . 00
CITY OF .OMAHA-SSBG $50, 000 .00
OMAHA 1130 LENDERS $143, 000 .00
NIFA $38, 500 .00
OMAHA COMM. FOUND. $15, 000 .00
CONTRIBUTIONS $3, 300 .00
INTEREST INCOME $3, 700 .00
LOAN PROCESSING FEES $26, 000 .00
LOAN ORIGINATION FEES $30, 000 .00
NIFA ORIGINATION FEES $17, 500 .00
CREDIT REPORT FEES $12, 300 .00
FANNIE MAE $0 .00
MISC $0 . 00
ADDL GRANT/INCOME $43, 350 .00
TOTAL REVENUE AND SUPPORT $506, 650 .00
PERSONELL EXPENSES
SALARIES $147, 000 . 00 •
BENEFITS $17, 600 . 00
PAYROLL TAXES $20, 000 . 00
INCENTIVE PROGRAM $12, 000 .00
TOTAL PERSONNEL EXPENSE $196, 600 . 00
FACILITIES OPERATING EXPENSE
RENT $15, 800 .00
PHONE $4, 500 .00
UTILITIES $2, 900 . 00
OFFICE MAINTENACE $3, 700 . 00
CUSTODIAN FEES $1, 600 .00
OFFICE EQUIP MAINT $1, 200 .00
TOTAL FAC/OPER EXPENSE $29, 700 .00
OPERATING EXPENSE 1998
BUDGET
POSTAGE : $1, 800 .00
OFFICE =SUPPLIES $3, 400 .00
WORKSHOP SUPPLIES $70 .00
WORKSHOP EXPENSES $80 .00
TRAVEL & MILEAGE $2, 400 .00
PAYROLL SERVICES $1, 000 . 00
PRINTING $500 . 00
COPIER EXPENSE $4, 000 .00
MARKETING $500 .00
PUBLICATIONS $500 .00
ACCOUNTING SERVICES $12, 300 .00
LEGAL SERVICES $1, 000 .00
STAFF DEVELOPMENT $3, 500 .00
TECHNICAL ASSISTANCE $300 .00
COST HOME $80, 100 .00
INTEREST EXPENSE $1, 000 . 00
LIABILTY INSURANCE $3, 800 .00
OTHER EXPENSE $500 . 00
TOTAL OPERATING EXPENSE $116, 750 . 00
OTHER EXPENSES
CITY DEVELOPMENT $0 . 00
MORTGAGE CREDIT REPORT $12, 000 . 00
LOAN LOSS RESERVE ADJ $15, 000 . 00
SMALL GRANTS TO NFP'S $12, 000 .00
SUBSIDIES TO NFP'S $120, 000 .00
FUNDRAISING $2, 000 .00
CONST IN PROGRESS $0 . 00
OTHER EXPENSES $2, 600 .00
TOTAL OTHER EXPENSES $163 , 600 . 00
TOTAL EXPENDITURES $506,650 .00
NET RESERVE $0 .00
-25A CITY OF OMAHA
\ i
LEGISLATIVE CHAMBER
Omaha,Nebr April 21 19 98
RESOLVED BY THE CITY COUNCIL OF THE CITY OF OMAHA: t
WHEREAS, the primary objective of Title I of the Housing and Community
Development Act of 1974 is, in part, the development of viable urban communities with decent
housing and a suitable environment principally for persons of low and moderate in-Come and one of
the objectives with respect thereto is the elimination of conditions which are detrimental to health,
safety and public welfare through code enforcement,demolition,rehabilitation assistance and related
activities; and,
WHEREAS,the Mayor recommended and the City Council,on December 16, 1997.,
by Resolution No. 3397, favorably considered the 1998 Consolidated Submission for Community
Planning and Development Programs which includes the Omaha 100 Incorporated program as a
project to be funded during 1998; and,
WHEREAS, the purpose of Omaha 100 Incorporated is to increase the production
of affordable housing and to access capital in order to support community development organizations
as well as specific projects; and,
WHEREAS, it is necessary for the City to enter into an agreement with Omaha 100
Incorporated to provide administrative funding support for its housing development activities; and,
WHEREAS,it is in the best interest of the City of Omaha to enter into an agreement
with Omaha 100 Incorporated,to provide administrative funding support for housing development.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF OMAHA:
THAT,the attached Agreement,as recommended by the Mayor,between the City of
Omaha and Omaha 100 Incorporated, a Nebraska Non-profit Corporation, 2424 Cuming Street,
Omaha, Nebraska 68131, in the amount of$40,000.00, for administrative funding support for the
period from April 1, 1998 through March 31, 1999, is hereby approved. Funds shall be paid from
the Community Development Block Grant Fund No. 193, Organization No. 8327, Housing
Development. .
P:\PLN2\7385.SKZ APPROVED AS TO FORM:
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ASSISTANT CITY ATTORNEY DATE
By..
ounce ember
Adopted APR, ....998 7---0
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Approved
Mayor
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