The Housing and Community Development (HCD) Department recommends Council approval of an Ordinance authorizing a Second Amendment to the “Developer Agreement (CHDO Single-Family Home Community Housing Development Program)” between the City of Houston and A Caring Safe Place, Inc. (ACSP) to (1) reduce the maximum amount of the agreement by $554,000.00 from $3,868,000.00 to $3,132,000.00; (2) reduce the total number of CHDO Homes that A Caring Safe Place, Inc. may build from thirteen to eleven; (3) amend cost projections; (4) extend the amount of time the Director may extend the time of performance; (5) change provisions regarding definitions, CHDO Proceeds, Recapture Requirements, the affordability period, and sales contracts; and (6) replace the forms of the Homebuyer HOME Statement, Homebuyer Note, and Homebuyer Deed of Trust.
The initial Developer Agreement, by Ordinance 2020-1074, authorized the development of up to nine (9) affordable single-family homes. On July 12, 2023, by Ordinance 2023-552, City Council approved an Ordinance authorizing a First Amendment to amend the Developer Agreement and relevant provisions, exhibits, and related documents (1) to increase the maximum number of affordable single-family homes that ACSP may build pursuant to the Developer Agreement from nine (9) to thirteen (13); and (2) increase funding from $2,286,000.00 to $3,686,000.00 in HOME funds for the development of the additional homes and to cover construction cost increases.
The CHDO Single-Family Home Development Program administers newly constructed affordable-family homes for sale to eligible low- and moderate-income homebuyers and expands nonprofit housing providers' capacity.
No funding is attached to this item.
The Housing and Affordability Committee (HAC) Chair was briefed on this item on November 19, 2024.
____________________________
Michael Nichols, Director