HomeMy WebLinkAboutFIRST AMENDMENT TO AGREEMENT BETWEEN AUGUSTA, GEORGIA & COMMUNITY DEVELOPMENT COLLABORATIVE, LLC 2018 HOME INVESTMENT PARTNERSHIPS PROGRAM_ 11TH STREET @ FLORENCE TOWNHOMES- ASHLEY LANDINGS FIRST AMENDMENT
TO
AGREEMENT BETWEEN
AUGUSTA, GEORGIA
COMMUNITY DEVELOPMENT COLLABORATIVE, LLC
2018 HOME INVESTMENT PARTNERSHIPS PROGRAM
11th Street @ Florence Townhomes
This First Amendment to the agreement executed by and between the Parties on May 11,
2018, is made and entered into on the 27 'day of �J � , 2019, by and between
AUGUSTA, GEORGIA, (hereafter referred to as "Augusta"), and THE COMMUNITY
DEVELOPMENT COLLABORATIVE, LLC. (hereinafter referred to as the "Collaborative").
WHEREAS, AUGUSTA desires to amend the original agreement to allow the
Collaborative to effectively administer its HOME eligible affordable housing development
activities;
WHEREAS, the Collaborative has determined that this Amendment is in its best interest
and has agreed to the said Amendment;
NOW THEREFORE, in exchange for their mutual good and valuable consideration, the
receipt and sufficiency of which each PARTY acknowledges, and intending to be legally bound,
AUGUSTA and Antioch agree to amend said agreement as follows:
(1)
Article I Section B . Use of Funds. Construction shall be revised to provide additional
funding in the amount of$ 185,860.00 of HOME funding to support the construction of a four
(4) single family units located at the corner of 11th Street and Florence Street known as Ashley
Landings.
B. Use of Funds
HOME Program funds shall be used by the Collaborative for the purposes and objectives
stated in Article I, Scope of Services, and Exhibit"A" of this Agreement. The use of HOME
funds for any other purpose(s) is not permitted. The following summarizes the proposed uses of
funds under this agreement:
Augusta Housing and Community Development
HOME Investment Partnership Program Agreement Amendment
The Collaborative- 11th Street @ Florence Townhomes-Ashley Landing
b. Construction
An amount not to exceed$ 810,860.00 in a grant shall be expended by the Collaborative
to support the construction of an affordable single-family housing units to be made
available for purchase by HOME program eligible low and moderate home buyers.
Original contract states not to exceed$ 650,000.00 whereas amendment adds an
additional $ 160,860.00 to support construction cost.
c. Contingency
An amount not to exceed$ 25,000.00 in the form of a grant shall be expended by the
Collaborative/Architect Contingency to fund a construction performance bond and any
other reasonable construction items needed to complete project.
Article II Section D shall be revised to show the additional funding with the following:
D. Project Budget: Limitations
Collaborative shall be paid for full performance of the services specified under this
Agreement. Any cost above this amount shall be the sole responsibility of
Collaborative. It is also understood by both parties to this contract that the funding
provided under this contract for this specific project shall be the only funds provided
by Augusta-unless otherwise agreed to by Augusta and Collaborative.
The Collaborative shall adhere to the following budget in the performance of this
contract: f/
Construction $ 810,860.00
Acquisition $ 92,084.00
Contingency $ 25,000.00
Total Project Activity Cost $ 927,944.00
( 2
Augusta Housing and Community Development
HOME Investment Partnership Program Agreement Amendment
The Collaborative- 11th Street @ Florence Townhomes-Ashley Landing
Except for the modifications made by this Amendment, the terms and conditions of the
Agreement, as previously amended, shall remain in full force and effect.
IN WITNESS WHEREOF, the undersigned have set as of the date first written above.
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The Community Development Collaborative, LLC Date
IN WITNESS WHEREOF, the parties have set their hands and seals as of the date first written
above:
ATTEST: AUGUSTA, GEORGIA
(The City) /
Approved as to form: 4 / g$L�~ Date:
Augusta, I' PirDepartment
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