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REQU. FOR CITY COUNCIL AGW>A ITEM Agenda Date Requested: Mav 12. 2003 Appropriation Requested By: DOU2 Kneupper/Gwen Goodwin Source of Funds: Northside Neighborhood Department: Plannin2 Account Number: 15-9892~59-1100 Report: _Resolution: _Ordinance: -L.. Amount Budgeted: $107,771 Ordinance authorizing a contract with America's Estate Properties, Inc to construct house(s) for the HOME Grant program Exhibits: Ordinance Area Map Agreement Amount Requested: $ 92,450 Budgeted Item: ~ NO SUMMARY & RECOMMENDATION During the Council's December 9, 2002 meeting, Council formally accepted two contracts with the Office of Housing and Economic Development (OHED). Contract #1 provides $181,900 for the construction of two "model" homes built on 4 lots. In February 2003, the City issued a Request for Qualifications for the construction of these 2 homes. The Selection Committee chose two builders: America's Estate Properties, Inc and Bayou Housing Partners. (When Contract #2: Down payment and closing cost assistance is executed, these builders may also be asked to construct one or several of the subsequent 9 homes; however, the builders are responsible for securing independent financing for the acquisition of lots and construction of the homes.) America's Estate Properties, Inc. will build a home at 330 N. 5th Street, also described as lots 1 & 2 of Block 80, La Porte, Texas. This home is priced at $92,450. Throughout construction, the builder will request a draw as key milestones are reached. The City will pay the builder and submit a request for reimbursement with OHED as stipulation in Section ITI. - Payment paragraph #2 of the City's executed contract with OHED. The City will pay the builder and submit a request for reimbursement with OHED as stipulation in Section ITI. - Payment paragraph #2 of the City'~. executed contract with OHED. Our 25% commitment will not exceed the budgeted amount. ~ ~ Council is asked to consider an ordinance authorizing a contract between the City and America's Estate Properties, Inc. to construct Plan #1520-Houston (1,554 sq ft.) priced at $92,450. Action Reauired bv Council: 1. Approve an ordinance authorizing an agreement between the City and America's Estate Properties, Inc. to construct house(s). ADDroved for City Council Ae:enda S-Cc -d3 Date