Amendment - SB Heritage Foundation - Acquisition Rehabilitation Program

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AMENDMENT #3 TO 2014 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM CONTRACT BY AND BETWEEN THE CITY OF SOUTH BEND, STATE OF INDIANA, AND SOUTH BEND HERITAGE FOUNDATION, INC. Contract #14-JC-25 THIS AMENDMENT to the 2014 Community Development Block Grant (CDBG) Program Contract dated July 22, 2014 is entered into this 1: "n day of 1 ee;' , iYype� r , 2016, by and between the City of South Bend Indiana, by and through its Board of Public Works, for and on behalf of the Department of Community Investment (the City), in order to receive certain funds and provide community development, neighborhood development and/or housing assistance activities for various programs under the control of the U.S. Department of Housing & Urban Development ("HUD"), and South Bend Heritage Foundation, Inc., a non-profit domestic corporation organized and operating under the laws of the State of Indiana ("Participant'). This award is granted under CFDA 14.218, Community Development Block Grant Program, Department of Housing and Urban Development, Office of Community Planning and Development, Grant Number B-14-MC-18-0011. WHEREAS, the City and Participant are parties to an agreement entitled "Community Development Block Grant (CDBG) Program Contract' dated July 22, 2014 and made effective January 1, 2014 ("CDBG Contract'); and WHEREAS, this agreement is entered into as the Amendment to the CDBG Contract to modify certain terms and conditions expressed in the CDBG Contract; and NOW, THEREFORE, in consideration of the mutual promises and obligations set forth herein, the parties make this Amendment to the CDBG Contract as follows: (1) APPENDIX I entitled "SCOPE OF SERVICES/PROJECT DESCRIPTION" which is attached to and incorporated in the CDBG Contract, shall be and is hereby amended and the following sections are revised and replaced as follows: TIMETABLE: Costs may be incurred when the Agency is notified to proceed by the Department of Community Investment. This activity shall commence on January 1, 2014 and shall continue to and include December 31, 2017. All funds unobligated by December 31,201 and all funds unspent by January 31, 2018 shall be subject to reprogramming at the option of the City. PROGRAM BUDGET: The total CDBG budget for the Near West Side Acquisition / Rehabilitation project (14-JC-25) shall not exceed $665,545.00. The projected budget is as follows with the understanding that funds can be moved between eligible activities as costs increase or decrease because of market conditions. However, the developer fee cannot exceed 12.5% of funds expended or a maximum of $73,950.00. Acquisition $ 90,000 Construction materials & labor $475,595 Holding Costs $ 26,000 Developer Fee 73,950 5 545