ORD 33615 - Amendment to Holy Name Housing Corporation redevelopment agmt - v
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,, "� August 1, 1995
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.pA Honorable President ,
ry,
oR' ED FEBR°rQ�
T - and Members of the City Council,
City of Omaha
Hal Daub,Mayor
Planning Department The attached proposed Ordinance amends the Agreement approved by the City
Omaha/Douglas Civic Center Council on July 31, 1990,by Ordinance No. 32133, between the City of Omaha
1819 Farnam Street,Suite 1100 and Holy Name Housing Corporation(HNHC), 3014 North 45th Street, Omaha,
Omaha,Nebraska 68183-0110
(402)444-5200:` ` Nebraska 68104, for the development of the Monmouth Park Subdivision, 36th
(402)444-5150 and Ames Avenue.
Telefax(402)444-6140
To date,HNHC has completed the site preparation; sold thirty (30) single-family
houses and currently is under construction on the remaining ten.(10)homes.
This amendment extends the time frame for completion of the construction of the,
entire forty(40) single-family housing unit subdivision to July 31, 1996 and re-
allocates a remaining balance of CDBG funds in the amount of $105,325,
comprised of$100,000 in FY95 and $5,325 in FY92 funds.
The Contractor has on file a current Annual Contract Compliance Report Form
(CC-1). As is City policy, the Human Relations Director will review the
Contractor to ensure compliance with the Contract Compliance Ordinance.
ra =-
Authorizing the requested time extension will allow the Contractor to
successfully complete this worthwhile housing development project. We urge
r.
-— your favorable consideration of this Ordinance.
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- Respectfully submitted, Referred to the CityCouncil for
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Considerate
Lc)
cr%
Steve Jensen, Acting Director
Planning Department Al, Mayor' °fftc
Approved: Approved:
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7:4,4
Lou D'Ercole (, Diane L. Thomas, Director
Acting Finance Director Human Relations Department
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ORDINANCE NO. , /'5--
AN ORDINANCE approving the Amendment to the Redevelopment Agreement with the Holy
Name Housing Corporation, approved by the City Council on July 31, 1990, by Ordinance
No. 32133, as amended, and providing for:
1) The extension of the project completion time until July 31, 1996;
2) The re-allocation of a total of$105,325 CDBG funds, comprised of$100,000 from
FY95 and $5,325 from FY92 CDBG Programs; and,
3) Release of the City's assignment of mortgage/deed of trust at the closing of a loan for
either construction financing or sale of a house, whichever should occur first.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA:
Section 1. Pursuant to the Nebraska Community Development Act the City finds that this
Amendment to the Agreement allows for the successful completion of infill housing to the public
benefit in the former Immanuel Hospital Redevelopment Area.
Section 2. The Mayor is hereby authorized to execute, and the City Clerk to attest, the
Amendment to the Redevelopment Agreement attached hereto between the City of Omaha and the
Holy Name Housing Corporation, such Agreement being approved on July 31, 1990, by Ordinance
no. 32133 as amended,and extended by the Planning Director until July 31, 1995,as permitted under
Section 4 of the Redevelopment Agreement.
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ORDINANCE NO. 33o4 j'
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Section 3. This Ordinance,not being of legislative character, shall be in full force and take
effect immediately upon passage under and by virtue of the authority granted by Section 2.12 of the
Home Rule Charter of the City of Omaha, 1956, as amended.
INTRODUCED BY COUNCILMEMBER
APPROVED :Y:
M• YOR OF T E IT 0 v.,MA
PASSED AUG 15 1995 D
ATTEST:
CITY CLE F THE C Y OF OMAH
APPROVED AS TO FORM:
ASSISTANT CITY TO
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AMENDMENT
THIS AMENDMENT, is to the Agreement between the City of Omaha (sometimes
hereinafter referred to as "City"), a Municipal Corporation in Douglas County,Nebraska; and the
Holy Name Housing Corporation,3014 North 45th Street,Omaha,Nebraska 68104,a Nebraska non-
profit corporation(sometimes hereinafter referred to as "HNHC"); approved by City Council of the
City of Omaha on July 31, 1990, by Ordinance No. 32133, and amended by Ordinance No. 32462
on August 20, 1991; Ordinance No. 32554 on January 7, 1992; Ordinance No. 32792 on September
1, 1992; and, Ordinance No. 33116 on December 7, 1993.
RECITALS:
WHEREAS, the City of Omaha 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 Holy Name Housing Corporation is developing the Monmouth Park
Subdivision in the Central Park Neighborhood of North Omaha with forty(40) single-family homes
affordable for purchase by low and moderate income people; and,
WHEREAS,the Holy Name Housing Corporation has completed and sold thirty(30)houses;
has substantially completed three (3)homes; and is presently under construction on the remaining
seven(7) homes; and,
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WHEREAS, a total of$105,325 in CDBG funds remain to be expended in support of the
Monmouth Park Subdivision project, comprised of$100,000 from FY95 and $5,325 from FY92
CDBG Program years; and,
WHEREAS,in order to complete and sell the remaining ten(10)homes,Holy Name Housing
Corporation has requested an extension until July 31, 1996; and,
WHEREAS, it is in the best interest of the City of Omaha that HNHC be allowed to
successfully complete this project.
NOW, THEREFORE, in consideration of these mutual covenants, herein contained, the
parties hereto agree as follows:
Section 1.13 shall be deleted in its entirety and the following inserted in its place:
"CDBG Funds" shall mean - that portion of the Community Development Block
Grant awarded to the City as may be available to loan during program years 1990,
1991, 1992, and 1995 for professional services, Construction Work and Deferred
Payment Loans involving the property as described in Section 1.5 of this Agreement
in an amount not to exceed $1,079,800, subject to the terms, conditions and
requirements of said Grant. CDBG funding shall be comprised of$279,800 from
FY90; $440,000 from FY91; $360,000 from FY92; and $100,000 from FY95.
Section 2.10 shall be deleted in its entirety and the following inserted in its place:
2.10 The City agrees to provide HNHC funds, as described in Section 2.2 and 2.3
herein, to carry out the services described herein until July 31, 1996.
Section 3.22 shall be deleted in its entirety and the following inserted in its place:
3.22 HNHC shall submit a monthly progress report to the City of Omaha,Director
of Planning. The progress report will delineate HNHC staff accomplishments
for the previous 30 day period. A final project report is due on September 1,
1996.
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Section 3.6 shall be deleted in its entirety and the following inserted in its place:
3.6 HNHC shall construct at least one additional housing unit for each housing
unit sold, subject to the limitations on outstanding City construction funding
set forth in Section 2.3.1 HNHC shall make best efforts to construct and sell
forty (40) single-family housing units prior to August 1, 1996.
Section 4 shall be deleted in its entirety and the following inserted in its place:
This Agreement shall terminate on July 31, 1996.
Section 2.3.1 shall be deleted in its entirety and the following inserted in its place:
2.3.1 Partial construction financing for each single-family house at no interest as
follows:
A. In the case of speculation or model houses (houses for which no
buyer is identified and obligated to purchase), such construction
financing shall be made to HNHC without interest in an amount not
to exceed$25,000.00 per unit. such loans shall be secured by no less
than a second mortgage/deed of trust and become due and payable to
the City at the loan closing as each individual house is sold. Each
dollar of construction financing shall be matched by at least 1.75
dollars of private construction financing.
B. In the case of pre-sold houses (houses in which a buyer has been
identified,approved for partial mortgage financing under 2.3.2 below
and has become obligated to purchase regardless of whether the sale
has been closed), such construction financing shall be made without
interest in an amount not to exceed the amount approved for said
buyer under paragraph 2.3.2. Such loan shall be secured by no less
than a second mortgage/deed of trust and become due and payable to
the City at the loan closing as each individual house is sold.
C. At the closing of a loan for either construction financing or sale of a
house, whichever should first occur, the City shall release its
assignment of mortgage/deed of trust for such property.
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Section 2.3.2 shall be deleted in its entirety and the following inserted in its place:
WHEREAS, the remainder of the Agreement approved by the City Council of the City of
Omaha on July 31, 1990,by Ordinance No. 32133,and amended by Ordinance No. 32462 on August
20, 1991; Ordinance No. 32554 on January 7, 1992; Ordinance No. 32792 on September 1, 1992;
and, Ordinance No. 33116 on December 7, 1993; shall be and hereby is in full force and effect.
IN WITNESS WHEREOF,the parties have executed this Agreement as of the date indicated
below.
ATTEST: CITY OF • AHA:
Al 4
City Clerk o the City of maha M,yor of the City of Omaha
ATTEST: HOLY NAME HOUSING CORPORATION
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itness Lisa A. Burks, Assistant Secretary
APPROVED AS TO FORM:
Ado
Asses ant City y Atto
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