HomeMy WebLinkAboutReso 94-226 - Approve agreement between COR & Catholic Charities of Sac Inc & Northern Valley Catholic Social Serv Providing funds for Development of Affordable Housing Units RESOLUTION NO. fl 7"2 2 �O
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE AGREEMENT BETWEEN THE CITY OF REDDING
AND CATHOLIC CHARITIES OF SACRAMENTO, INC., AND
NORTHERN VALLEY CATHOLIC SOCIAL SERVICE PROVIDING
FUNDS FOR THE DEVELOPMENT OF AFFORDABLE HOUSING
UNITS, AND AUTHORIZING THE MAYOR TO SIGN SAME
BE IT RESOLVED by the City Council of the City of Redding as follows:
1 . The City Council of the City of Redding hereby approves the Agreement
between the City of Redding and Catholic Charities of Sacramento, Inc., and Northern
Valley Catholic Social Service, providing $300,000 to develop ten units of multi-family
rental housing affordable to low-income households.
2. The Mayor of the City of Redding is hereby authorized and directed to
sign all necessary documents on behalf of the City and the City Clerk is hereby
authorized and directed to attest the signature of the Mayor.
3. A true copy of the agreement referred to herein is attached hereto and
made a part hereof.
HEREBY CERTIFY that the foregoing resolution was passed and adopted by
the City Council of the City of Redding at a regular meeting on the 16th day of
August, 1994, by the following vote:
AYES: COUNCIL MEMBERS: P. Anderson, Kehoe, McGeorge, Murray and R. Anderson
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
0 IST C. ANDERSON, Mayor
ATTEST:
CONNIE SYROHMAY5A, City Clerk
FORM APPROVED:
n`
RA DALL A. HAY/S, City Attorney
AGREEMENT BETWEEN CITY OF REDDING
AND CATHOLIC CHARITIES OF SACRAMENTO, INC. AND NORTHERN VALLEY
CATHOLIC SOCIAL SERVICE FOR THE USE OF HOME FUNDS
THIS AGREEMENT, made and entered into this day of August, 1994 by
and between the CITY OF REDDING, a municipal corporation (hereinafter referred to as
"CITY") and CATHOLIC CHARITIES OF SACRAMENTO, INC., a California Non-Profit Public
Benefit Corporation (hereinafter referred to as "CCSI") and NORTHERN VALLEY CATHOLIC
SOCIAL SERVICE, a member organization of CCSI, (hereinafter referred to as "NVCSS").
WITNESSETH:
WHEREAS, CCSI is a non-profit corporation organized under the laws of the
State of California and qualifying for Federal Tax Exempt Status; and
WHEREAS, NVCSS is a member organization of CCSI and authorized to
execute all conditions of this Agreement on behalf of CCSI; and
WHEREAS, CITY has entered into a grant agreement with the California State
Department of Housing and Community Development (hereinafter referred to as HCD) to
carry out the Home Investment Partnerships Program (hereinafter referred to as HOME)
with CITY; and
WHEREAS, to facilitate the provision of affordable rental housing, CITY has
allocated said funds to CCSI and NVCSS for the sole purpose of assisting CCSI and
NVCSS with the development of approximately 10 units of residential housing affordable
for lower-income households as outlined in Exhibit "A" Scope of Work, attached hereto
and made a part hereof; and
WHEREAS, in consideration of such a loan and in accordance with the terms
and conditions thereof, CITY, CCSI and NVCSS desire to enter into this Agreement setting
forth certain covenants, conditions, and restrictions regarding the manner in which CCSI
and NVCSS will hold and use the CCSI/NVCSS housing project;
NOW, THEREFORE, in consideration of the recitals and the mutual obligations
of the parties as herein expressed, the parties hereto agree as follows:
I. AMI 0UN 'A"N, )�5� CSF E��1 v� Use of CITY's funds allocated hereunder to CCSI
and NVCSS shall be subject to the following:
A. CITY agrees to lend to CCSI and NVCSS the amount of Three Hundred
Thousand and no/100 Dollars ($300,000), at three percent (3%) per annum
simple interest for the first three years and five percent (5%) per annum simple
interest thereafter, due in thirty years, with full payment of principal and
interest expected within fifteen (15) years.
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 2
B. CCSI and NVCSS shall use the funds provided pursuant to this Agreement for
the development of approximately 10 units of rental housing affordable to
lower-income households as set forth in Exhibit "A," Scope of Work and this
Agreement. Said units shall be occupied in accordance with affordability
restrictions set forth in Section VIII of this Agreement.
C. The facility shall be developed within thirty-six (36) months from the execution
of this Agreement on Lot A, of Shasta County Assessor's Parcel # 070-280-24
& 25, located at 3221 & 3225 Bechelli Lane, Redding, California as depicted in
Exhibit "B", Location Map, attached hereto and made a part hereof and
hereinafter referred to as "the Site".
D. Prior to development, CCSI and/or NVCSS will process a lot split application
with the CITY to establish Lot A as a separate legal parcel.
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A. In consideration of the CITY loan, CCSI and NVCSS shall execute a Residual
Receipts Note and Deed of Trust on the Site naming the CITY as beneficiary.
Said Deed of Trust shall name this Agreement and the Note as the obligation
secured thereby.
B. Simple interest at the rate specified in Section IA of this Agreement shall
accrue based upon the amount of CITY loan funds actually disbursed to
CCSI/NVCSS.
C. No later than six months prior to the beginning of the fourth year from the date
the Deed of Trust securing the CITY loan is recorded on the Site, CCSI and/or
NVCSS shall provide CITY with a cash flow analysis and fifteen (15) year cash
flow projection for the project, certified by a public accountant for the purposes
of establishing a general repayment schedule for the repayment of CITY loan.
During the term of the loan, payments of principal and interest shall only be
required from residual receipts generated by the project. "Residual receipts"
shall be defined as surplus cash remaining after payment of all reasonable
expenses necessary to operate and maintain the project in habitable condition,
debt service, taxes, fire insurance, and reasonable reserves. For the purpose of
calculating available residual receipts, total operating expenses shall not exceed
thirty-five percent (35%) of project income without prior approval of CITY.
Debt service shall only include payments on the Redding Redevelopment
Agency Loan, any loan recorded on the Site superior to the CITY loan, or unless
otherwise approved by the CITY.
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AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 3
A calculation of the anticipated residual receipts to be generated by the project
shall be made by NVCSS/CCSI on an annual basis. Such calculation shall be
based upon the historical and projected cash flow of the project. Starting in
the thirty-seventh (37th) month from the date the Deed of Trust securing the
CITY loan is recorded on the Site, CCSI and/or NVCSS shall make a monthly
payment to CITY equal to or greater than a one-twelfth (1/12) share of the
most recently calculated annual residual receipts for the project.
Written notification shall be made by CCSI and NVCSS to the CITY no later
than thirty (30) days following the end of each twelve-month payment period
of the actual residual receipts generated by the project in the previous twelve
(12) month period and the amount of monthly payment to be made in the next
twelve (12) month period. Any amount paid by CCSI/NVCSS to CITY in a
previous period determined to be in excess of actual residual receipts available
shall be credited towards payments to be made in the following twelve (12)
month period. Any amount which should have been paid by CCSI/NVCSS to
CITY, based upon actual residual receipts generated by the project, shall be
divided by twelve (12) and added to each monthly payment to be paid over the
immediately following twelve (12) month period.
All determinations of project residual receipts and calculation of monthly
payment shall be subject to review and audit by the CITY of all relevant project
income and operating expenses and any other supporting documentation
including reserves, management factors and loan to value ratios.
D. This transaction shall be completed through an escrow to be established with
First American Title Insurance Company (hereinafter referred to as the "Escrow
Agent") located at 1600 West Street, Redding, California. Within fourteen (14)
days after execution of this Agreement each of the parties shall execute and
deliver to the Escrow Agent written instructions consistent with the terms of
this Agreement. CITY's Escrow instructions shall provide that:
1. Escrow Agent shall record the Deed of Trust in the Shasta County
Recorder's Office pursuant to the escrow instructions of CITY, CCSI and
NVCSS. Said Deed of Trust shall be subordinate to a Deed of Trust in favor
of the Redding Redevelopment Agency (RRA).
2. After recordation of the Deed of Trust, Escrow Agent shall issue a CLTA
Policy of Mortgage Title Insurance in the amount of the Note. Said Policy
shall show title to the Site vested in CCSI and/or NVCSS and insure CITY
as beneficiary.
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 4
3. CITY shall only subordinate its loan to construction financing which has a
builder's control clause.
4. Upon submittal of proposed permanent project financing, CITY shall
consider subordination of City loan to another security document recorded
on the Site, other than the RRA loan provided CITY shall not approve any
subordination that results in a negative equity position for CITY loan.
E. CCSI and NVCSS shall be responsible for all additional sums necessary to
construct said units in excess of CITY loan.
F. CCSI and NVCSS hereby agree that disbursement of CITY loan funds is
contingent upon their complying with all applicable HOME regulations regarding
funds disbursement as determined by HCD and HUD and any conditions that
the CITY shall specify herein. These include the following:
1. CCSI and NVCSS shall secure adequate financing to complete the
development of said Site. In order to facilitate the securing of such
financing, the CITY, CCSI, and NVCSS agree that CCSI and NVCSS shall
have the use of a portion of the CITY loan funds, not-to-exceed Twenty-
One Thousand Dollars ($21 ,000), in order to apply for the remainder of the
project financing. Such funds shall be used to meet the normal and
customary application requirements of a private lender, and may include
required project or Site appraisals, project architectural drawings, costs
associated with applying for project use permit and lot split, or Site
engineering. Upon notification of private financing, NVCSS and/or CCSI
shall submit written proof of such financing to CITY prior to disbursement
of further CITY funds.
If NVCSS or CCSI are unable to secure sufficient additional financing to
construct the project within six (6) months of the execution date of this
Agreement, the CITY loan and accrued interest shall become immediately
due and payable upon written demand by CITY.
2. Prior to any expenditures from CITY loan, CCSI and NVCSS shall establish a
budget, to be approved in writing by the CITY, specifying expenditures to
be made.
3. All funds disbursed to CCSI and NVCSS must be expended within thirty
(30) days of CITY approval of the disbursement request.
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 5
4. CCSI and NVCSS shall comply with all applicable requirements of the
General Conditions and Specifications of the City of Redding Housing
Division, including but not limited to bid procurement, construction,
inspection, disbursement of funds, insurance, records, audits, any use
permit issued for the project, the Uniform Building Code, and any other
applicable City ordinance.
5. The final disbursement shall be requested by CCSI and/or NVCSS no sooner
than sixty (60) days before project completion.
6. Any change in the budget that results in lower costs shall be communicated
to the CITY immediately. If the CITY determines that the total amount of
funds under this contract exceeds the amount necessary to complete the
project, the CITY may adjust the contract accordingly.
G. The CITY loan will be due and payable in full at the end of thirty (30) years
from the date the Deed of Trust securing CITY loan is recorded on the Site. At
the conclusion of the thirty (30) year period, the principal balance and accrued
interest shall be repaid; provided, however, that the CITY, CCSI and NVCSS
expect full payment of the principal balance and accrued interest to be made
within fifteen (15) years. CCSI and NVCSS will make diligent efforts to ensure
full pay-off of the loan within fifteen (15) years through efficient operation and
management of the property, subject to annual review by the CITY of property
income and operation statements.
H. CCSI and/or NVCSS may pay in full or any part of the CITY loan at any time
prior to the due date without penalty.
I. In the event the CITY loan is repaid prior to the loan due date, all terms of this
Agreement shall remain binding for the duration of this Agreement.
J. The full amount of the loan plus accrued interest will be immediately due and
payable if any of the following occur:
1 . The title to the Site is transferred by sale or other means.
2. The Site is not developed within thirty-six (36) months pursuant to Exhibit
"A" and this Agreement.
3. CCSI and/or NVCSS fail to utilize the Site for the purpose stated in this
Agreement.
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 6
K. CCSI and NVCSS hereby agree to maintain the appearance and structural
integrity of the Site, including all permanent structure, attachments, yard area,
and adjacent public right-of-way, as required by the current City of Redding
Housing Code, HUD Housing Quality Standards, and the standards imposed by
the Redding Housing Authority for rental units accepted under the Section 8
Existing Housing Assistance Program.
L. CCSI and NVCSS hereby agree that construction of the improvements to the
Site shall commence no later than nine (9) months following the execution date
of this Agreement and be substantially completed within thirty-six (36) months
following the execution date of this Agreement.
CITY, CCSI, and NVCSS mutually agree that time is of the essence to this
Agreement.
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III.
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Subject to the extensions of time set forth in Section V of this Agreement, failure or
delay by either party to perform any term or provision of this Agreement constitutes
a default under this Agreement. The party who so fails or delays must immediately
commence to cure, correct, or remedy such failure or delay and shall complete such
cure, correction, or remedy with reasonable diligence and during any period of
curing shall not be in default.
The injured party shall give written notice of default to the party in default,
specifying the default complained of by the injured party. Delay in giving such
notice shall not constitute a waiver of any default nor shall it change the time of
default.
Any failures or delays by either party in asserting of its rights and remedies as to
any default shall not operate as a waiver of any default or of any such rights or
remedies. Delays by either party in asserting any of its rights and remedies shall
not deprive either party of its right to institute and maintain any actions or
proceedings which it may deem necessary to protect, assert, or enforce any such
rights or remedies.
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IV. Ia E fiE< ;;:€.::.: MP..'!.:: ;.::: aMpf .`: EMEI
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In any case where, six months after default by CCSI and/or NVCSS in the comple-
tion of development of Site under this Agreement, if the holder of any mortgage,
deed of trust, or other security interest creating a lien or encumbrance upon the Site
or any portion thereof, has not exercised the option to construct, or if it has
exercised the option, and has not proceeded diligently with construction, CITY may
purchase the mortgage, deed of trust, or other security interest by payment to the
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AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 7
holder of the amount of the unpaid debt, plus any accrued and unpaid interest. If
the ownership of the Site has vested in the holder, CITY, if it so desires, shall be
entitled to a conveyance from the holder to CITY upon payment to the holder of an
amount equal to the sum of the following:
A. The unpaid mortgage, deed of trust, or other security interest debt at the time
title became vested in the holder (less all appropriate credits, including those
resulting from collection and application of rentals and other income received
during foreclosure proceedings).
B. All expenses with respect to foreclosure.
C. The costs of any improvements made by such holder.
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V. I I F..: ) ; E1 ::a E1#' :: C' 'EIS . ISI.. I I'3
In addition to specific provisions of this Agreement, performance by either party
hereunder shall not be deemed to be in default where delays or defaults are due to
war, insurrection, strikes, lockouts, riots, floods, earthquakes, fires, casualties, acts
of God, acts of the public enemy, epidemics, quarantine restrictions, freight
embargoes, lack of transportation, governmental restrictions or priority, litigation
(including litigation challenging the validity of this transaction or any element
thereof), unusually severe weather, inability to secure necessary labor, materials, or
tools, delays of any contractor, subcontractor, or suppliers, acts of the other party,
acts or failure to act of public or governmental agencies or entities other than those
of the CITY, or any other causes beyond the control or without the fault of the
party claiming an extension of time to perform. An extension of time for any such
cause shall be for the period of the enforced delay and shall commence to run from
the time of the commencement of the cause, if notice by the party claiming such
extension is sent to the other party within thirty (30) days of the commencement of
the cause. Times of performance under this Agreement may also be extended by
written amendment to this Agreement if CITY, CCSI, and NVCSS mutually agree to
do so.
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VI. TE.R.I.TER.MIN;AT1{3 C?)F AG*RE*EMENT
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This Agreement shall be in force for a period of twenty (20) years from the date a
certificate of occupancy is issued for the units, or when all contract terms have
been completed, whichever is longer. In the event CCSI or NVCSS violates the
provisions of this Agreement for any reason other than occurrence of circumstances
over which it can exercise no effective control and such violation shall not be cured
or remedied within ninety (90) days after notice thereof by CITY, CITY shall be
entitled to specifically enforce the covenants and conditions of this Agreement in an
action filed in any court of competent jurisdiction.
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 8
VII. TAI�SERICj~ RLPf= 'f
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Neither CCSI nor NVCSS shall cause or permit any sale, assignment, conveyance,
lease or transfer in any other form of or with respect to this Agreement, or the
property subject to this Agreement, or any part thereof or any interest therein, or
contract, or agree to do any of the same, without the prior written approval of
CITY. Any sale, assignment, conveyance, lease, or transfer without CITY's written
consent constitutes a material breach of this Agreement.
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VIII. F)~:::::R �1BILI.. ::.:: .;.......... :>:1::::�......a1i...
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A. CCSI and NVCSS represent and agree that the affordability restrictions of this
Section will remain in full force and effect for the Term of this Agreement.
B. CCSI and NVCSS agree that all of the units developed on the Site during the
term of this Agreement shall be occupied or held vacant and available for
occupancy by individuals or families with annual incomes at or below sixty
percent (60%) of the area-wide median income for Redding as determined by
HUD. In addition, at least twenty percent (20%) of the HOME-assisted units
must be occupied by families who have annual incomes that are fifty percent
(50%) or less of the area-wide median income for Redding.
C. CCSI and NVCSS agree that the total charges for rent and utilities to each
individual or family occupying a unit on the Site will not exceed the HOME
affordability requirement of 24 CFR PART 92.252. Such determination shall be
made at the time of initial occupancy by the tenant(s) and correspond to those
fixed rents calculated and made available by HUD annually. Unit rents shall be
reviewed annually by CCSI and/or NVCSS and adjustments made accordingly.
D. CCSI and NVCSS agree to execute a Rent Limitation Agreement that will be
recorded as a covenant running with the land and will specify a term of
affordability that will last twenty (20) years from the issuance of the certificate
of occupancy for the project by the CITY. The rent restrictions shall be binding
on the borrowers and successors for the term of this Agreement, regardless of
sale, transfer or repayment.
IX. Mfg:LtrARMLESR::::IrLAU:SEY
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A. In providing its services, CCSI and NVCSS will act as an independent
contractor and no officer or employee of CCSI or NVCSS will be deemed a
CITY officer or employee for any purpose.
B. CCSI and NVCSS shall hold CITY, its officers, boards and commissions and
members thereof, its employees and agents harmless of and free from any and
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 9
all liabilities which might arise out of or are related to acts of omissions of CCSI
or NVCSS in any way relating to the subject matter of this Agreement.
C. CITY shall hold CCSI and NVCSS, its officers, boards and commissions, and
members thereof, its employees or agents, harmless of and free from any and
all liabilities which arise out of or are related to the acts or omissions of CITY in
any way relating to the subject matter of this Agreement.
D. CCSI and NVCSS shall indemnify CITY, its officers, boards and commissions,
and all members thereof, its employees and agents, from any judgment
rendered against them or any sums paid out in settlement, or otherwise arising
out of any act or omission of CCSI and/or NVCSS in any way relating to the
subject of this Agreement.
E. CITY shall indemnify CCSI and NVCSS, its officers, boards and commissions,
and all members thereof, its employees and agents, from any judgment
rendered against them or any sums paid out in settlement, or otherwise arising
out of any act or omission of CITY in any way relating to the subject of this
Agreement.
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X. C 1K IPLIAN >1t� H i�A1NS
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A. CCSI and NVCSS shall comply at all times during the term of this Agreement
with all applicable laws and requirements, including any applicable Federal,
State or City regulations, and shall secure at its full cost and expense any and
all permits, applications or other requirements in connection therewith.
B. Prior to development, CCSI and/or NVCSS will prepare and submit an
application for a use permit for the Site as required by City Zoning Ordinance #
18.32.020. Conditions, if any, placed upon the issuance of the use permit will
be the responsibility of CCSI and/or NVCSS.
C. CCSI and NVCSS agree that they will comply with the Americans with
Disabilities Act and Title VII of the Civil Rights Act of 1964, specifically, that
no person or groups of persons on account of race, color, national origin, age,
sex, sexual orientation, creed, religion, disability, veteran's status, political
affiliation, pregnancy, parenthood, marital status or any other non-merit factor
be excluded from participation in, be denied the benefits of, or be subjected to
discrimination under any program funded in whole or in part with funds made
available by CITY pursuant to this Agreement.
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 10
D. CCSI and NVCSS shall comply with the requirements of Title 24, Part 135,
Employment Opportunities for Businesses and Lower-Income Persons in
Connection with Assisted Projects.
E. CCSI and NVCSS shall comply with the requirements and standards of OMB
Circular No. A-122, A-1 10, and A-21, including all stated restrictions on the
use of appropriated funds for lobbying purposes in connection with a specific
contract, grant, or loan.
F. CCSI and NVCSS will comply with the requirements of Section 504 of the
Rehabilitation Act of 1973 as amended by 29 USC 794.
G. No member of or Delegate to the Congress of the United States, and no
Resident Commissioner shall be admitted to any share or part of this
Agreement or to any benefit to arise from the same.
H. No member, officer or employee of the City of Redding, or its designees or
agents, no members of the governing body of the City of Redding, and no other
public official of the City of Redding who exercises any functions or
responsibilities with respect to the program during his tenure or for one year
thereafter shall have any interest, direct or indirect, in any contract or
subcontract, or the proceeds thereof, for work to be performed in connection
with the program assisted under this Agreement.
I. CCSI and NVCSS agree to comply with labor regulations as contained in 40
USC 2769-5, the Davis-Bacon Act, as applicable to the affordable housing
project funded in part under this Agreement.
J. CCSI and NVCSS shall comply with all other Federal Requirements detailed in
Subpart H of 24 CFR Part 92, including equal opportunity and fair housing;
affirmative marketing; environmental review; displacement, relocation, and
acquisition; lead-based paint; conflict of interest; debarment and suspension;
and flood insurance.
K. In addition to, and not in substitution for, other provisions of this Agreement
regarding the provision of public services with HOME funds, pursuant to the
National Affordable Housing Act of 1990, as amended, CCSI and NVCSS:
1 . Represent that they are, or may be deemed to be, religious or
denominational institutions or organizations or organizations operated for
religious purposes which are supervised or controlled by or in connection
with a religious or denominational institution or organization.
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AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 11
2. Agree that, in connection with such public services, they will not
discriminate against any employee or applicant for employment on the basis
of religion and will not limit employment or give preference in employment
to persons on the basis of religion; nor, will they discriminate against any
person applying for such public services on the basis of religion.
3. Agree they will not provide religious instruction or counseling, nor conduct
religious worship or services, engage in religious proselytizing, nor exert
other religious influence upon the participants and occupants of the facility
during the provision of any services as set out in Exhibit "A" Scope of
Services.
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XI. .:N UR NCE' RQVIISI:ONS.
A. CCSI and/or NVCSS shall purchase and maintain comprehensive general liability
insurance for bodily injury and property damage in an amount of not less than
$1,000,000 combined single limits throughout the term of this Agreement.
B. CCSI and/or NVCSS shall further obtain and maintain in full force and effect
throughout the term of this Agreement, insurance policies to protect against
financial loss by reason of destruction or damage of the facility by fire or other
hazards naming CITY, its officers, agents, and employees as additional
insureds.
C. CCSI and/or NVCSS shall provide evidence annually that real estate taxes and
assessments are paid on time.
D. CCSI and NVCSS shall promptly notify CITY if any default in payment takes
place which affects title or ownership of the Site and the security of the City's
note.
XII. Rrw R s AND. REPO::RT
A. As required by HOME regulations, all project records are to be retained by CCSI
and/or NVCSS for at least three (3) years beyond the term of affordability for
the units constructed under this Agreement. Because the term of affordability
under this Agreement is twenty (20) years, CCSI and/or NVCSS shall retain
records for a minimum of twenty-three (23) years. CCSI and NVCSS will
cooperate with CITY in the preparation of, and will furnish any and all informa-
tion required for reports to be prepared by CITY as may be required by the
rules, regulation, or requirements of CITY or any other governmental entity.
CCSI and NVCSS will also permit access to all books, accounts, or records of
any kind to CITY or to any other governments entity for purposes of audit or
AGREEMENT BETWEEN CITY, CCSI AND NVCSS Page 12
investigation, in order to ascertain compliance with the provisions of this
Agreement.
B. Specifically, CCSI and NVCSS agree to maintain complete and accurate records
that:
1. Demonstrate that the rental housing project meets the requirements of §
92.252 for the required period of affordability. Records must be kept for
each family assisted.
2. Demonstrate compliance with the requirements of § 92.253 for tenant and
participant protection.
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XIII. NT11 1 1GREI�N ENT-7.AMENUMEN :
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This Agreement sets forth the entire understanding of the parties hereto in the
matters set forth herein. Moreover, this Agreement may be modified or amended
only in writing duly authorized and executed by CITY, CCSI and NVCSS.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date and year first set out above.
ATTEST: CITY OF REDDING
By: By:
CONNIE STROHMAYER, City Clerk ROBERT C. ANDERSON, Mayor
FORM APPRO VED: CATHOLIC CHARITIES OF SACRAMENTO, INC.
By: By:
RANDALL A. HAYS, City Attorney FATHER EDWARD LEWIS, President
Board of Directors
NORTHERN VALLEY CATHOLIC SOCIAL SERVICE
By:
PATRICIA MODRZEJEWSKI
Executive Director
a:\nvcss.hme
EXHIBIT "A"
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The Scope of Work under this Agreement shall consist of the construction of a 10-unit
rental housing facility affordable to individuals or families with incomes at or below
sixty percent (60%) of the area median as most recently published by the U.S.
Department of Housing and Urban Development.
HOME funds will be utilized to assist in the costs related to the construction of the
units including soft costs which are deemed reasonable and necessary expenses, such
as:
1 . Architectural, engineering or related professional services required to prepare
plans, drawings, specifications, or work write-ups;
2. Costs to process and settle the financing for a project, such as: private lender
origination fees; credit reports; fees for title evidence; fees for recordation and
filing of legal documents; all city required fees related to the development
including planning, building and impact fees; attorneys fees; private appraisal
fees; and fees for an independent cost estimate; builders or developers fees;
3. Costs of a project audit that the participating jurisdictions may require with
respect to the development of the project;
4. Costs to provide information services, such as affirmative marketing and fair
housing information to prospective tenants as required by 24 CFR 92.351; and
5. The cost of funding an initial operating deficit reserve, which is a reserve to meet
any shortfall in project income during the period of rent-up (not-to-exceed
eighteen (18) months) and which may only be used to pay operating expenses
(exclusive of management fees), reserve for replacement payments, and debt
service. Any HOME funds placed in an operating deficit reserve that remain
unexpended when the reserve terminates must be returned to the participating
jurisdiction's local HOME Investment Trust Fund Account.
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EXHIBIT B
AFN. 070-280-24 25
3221 $ 3225 BEGHELL I LANE