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Second Amendment to Home Program Agreement Q 7 S? - 7 SECOND SECOND AMENDMENT.: TO HOME PROGRAM AGREEMENT THIS AGREEMENT, entered into this day of WWOV , 2011, by and between the CITY OF MIAMI' BEACH, a Florida municipal corporation, having its principal office at 1700 Convention Center Drive, Miami Beach Florida, (hereinafter referred to as the City), and the MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION, a not- for- profit Florida corporation, with offices located at 945 Pennsylvania Avenue, Miami Beach, Florida (hereinafter referred to as 'MBCDC): WITNESSETH: WHEREAS, on February 18, 1992, the City was designated by the United` States Department of Housing and Urban. Development (HUD) as a participating jurisdiction for the receipt of funds as provided under the HOME Investment Partnerships Program and pursuant to the HOME Program Final Rude, 24 CFR .- PART 92, as same may be amended from time to time; and . WHEREAS, the City has an agreement with HUD for the purpose of conducting an affordable housing program with federal financial assistance under the HOME Program; and WHEREAS, on April 8, 1993, the Mayor and City Commission approved Resolution No. 93- 20756, designating Miami Beach Community Development Corporation (MBCDC) as a qualified Community Housing Development Organization (CHDO) under the HOME:'Program; and WHEREAS, the City has determined the necessity. for providing affordable housing in the City through the Fiscal Year 2009/2010 One- Year Action Plan for Federal funds, adopted by Resolution No. 2009 -27116 on, July 15, 2009; WHEREAS, on March 29, .2010, the City and MBCDC entered into a HOME Program Agreement whereby the City agreed to provide a grant of FY 2009/2010 HOME Program funds-to MBCDC, in the amount of $1,073,786, for the follow projects for the purpose of providing rental housing for income- eligible program participants: $465;936 for the Meridian Place Apartments, located at 530 Meridian Avenue, Miami Beach, - Florida; and $607,650 for the Neptune Apartments, located at 1632 Meridian Avenue, Miami Beach, Florida .(the Agreement); and WHEREAS, on May 20, 2010, the City and MBCDC entered into a First Amendment to the Agreement whereby the City agreed to re- allocate the funds to the following projects, in the following amounts: $223,786 for *the Meridian Place Apartments; $650,000 for the Neptune Apartments; and $200,000, for the Barclay Apartments, located at 1940 Park Avenue, Miami Beach, Florida; and WHEREAS, the City and MBCDC now wish to amend the First Amendment to_the Agreement to re- allocate $223,786 from the Meridian Place Apartments project and $200,000 from the Barclay Apartments j project, fora total of $4.23,786, to the Allen House Apartments project, located at 2001, Washington Avenue, Miami Beach, Florida, in compliance with Resolution No. 2011 - 27.597, adopted on February 9, 2011. NOW, THEREFORE, in consideration of the mutual promises contained herein, the parties hereto agree as follows: Article II, ALLOCATION OF HOME FUNDS on Page 2, Paragraph 2, of the Agreement is amended by. deleting Meridian Place Apartments and Barclay Apartments and adding: Allen House Apartments, located at 2001 Washington Avenue, Miami Beach, Florida. This project will I provide thirty -nine (39) units of affordable rental housing f Article LI, ALLOCATION OF HOME FUNDS on Page 2, .Paragraph 3 of the Agreement is deleted in its entirety and replaced as follows: The Scope of Services for the Project is attached as Exhibit A hereto. The respective budgets are attached as Exhibits B -1 (Neptune Apartments); and B -2 (Allen House Apartments) EXHIBIT A to the Agreement, entitled Scope of Services is deleted in its entirety and replaced by a revised EXHIBIT A; attached and incorporated hereto. EXHIBIT. B -1, EXHIBIT B 72; and EXHIBIT B -3 are deleted in their entireties and replaced with revised EXHIBIT B -1' and revised EXHIBIT B -2; attached and incorporated hereto. Except as amended by this Second Amendment, no other term or condition of the Agreement or the First Amendment to the Agreement shall be modified and the same shall remain in full force and effect; provided, however, if any revision of this Second Amendment is in conflict with, or inconsistent with, any information in the Agreement or First Amendment. to the Agreement, the provisions contained in this Second Amendment shall govern, and control. - This Second Amendment shall be binding upon and shall inure to the benefit of the respective successors and assigns of the parties hereto. IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to be executed by their duly authorized officials on the day and date first above indicated. r MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION, INC. a Florida not- for- profit corporation 1 - ATTEST: Secrets igna ure Roberto Datorre, President Print Name Print Name and Title CITY OF MIAMI BEACH a Florida Municipal corporation ATTEST,'_- OA A-I_tJ :. P & City' Clerk Ma r Robert Parcher Matti Herrera Bower, Mayor Print Name Print Name and Title APPROVED AS TO FORM & LANGUAGE & FOR EXECUTION. l • - tyl Apin e }} r EXHIBIT A Y . SCOPE OF SERVICES Neptune Apartments - Acquisition /Rehabilitation /Construction - $650,000 Acquisition .and rehabilitation of the Neptune Apartments, located at 1632 Meridian Avenue, as. outlined „in the attached budget with a total project cost of $5,987,077 and as described in the approved plans (including any. revisions.). Such project shall result in a 16 -unit affordable rental apartment for low- income households. Allen House Apartments - Rehabilitation /Construction $423,786 Rehabilitation of the Allen House Apartments, located at 2001 Washington Avenue, as { outlined in the attached budget with a total project cost of $6,143,690 and as described in the approved plans (including any revisions). Such project shall result in a 39 -unit affordable rental apartment for low- income households. 1 , } f . G i 1 k . EXHIBIT B — 1 Budget Neptune'Apartments } 1 } o- . o o C, O O - l N O �olaoioo C) Cl r- ao m ui mofoo o� r r Nm 9 0 CD 4m V. >o O tNOHOQs000070 0 to: tfl 4) - tD .-. CtOp O m 0) Im Q; co m NNNW'7O�(OlI� m et M to. G AC M ,N r N M r to N N f i i i l O w O... �' 4s m N M M N w O [� O N ~ O N Q r z1 a w to c ) X @ '? .0 m w. m LU r m cu c @ w� 0 @z @ @; 03@ y c W m mia c w ? o o rn o o� N v O a. C @ co (Y I @ � cO 0. @ a N m CY O O .. r E O p. 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OLtWU0.0h- w m!cr}UZU t-mu.m ettntl� ;Id ¢ a a • t ( .c z ► z p r N M v O cc) m @ c @ z EXHIBIT B — 2 Budget Allen House Apartment r , l ' 1 c� ALLEN - HOUSE APARTMENTS Final Sources and Uses of Funds November 1, 2010 Total Budget TOTAL PROJECT . CHANGE 5,244,243 $6,143,690 $899,447 . Acquisition Building Acquisition Costs $3,450,000 $3,450,000 $0 Construction Hard Costs Selective Demolition $15,000 $15,000 $0 Framing $65,000 $65,000 $0 Gypsum Drywall Systems $34,600 $34,600 $0 Ceramic Tile in Bathrooms $15,453 $20,054 $4,601 Cermic Tiles for Living Areas $16,000 $67,469 $51,,469 I Waste Management $8,380. $16,478 $8,098 Utilities During Construction $9,000 $9,000 $0 r Fire Alarm $43;900 $57,750' $13,850 Kitchen Cabinets $39,317 $49,579 $10,262 Roofing $54,950 $69 $14,249 All Star South Glass $3,900 $3,900 $0 ' Don Bayley Carpets $15,000 $15,000 $0 Sherwin Williams Interior Paint $22,000 $22,000 $0 Appliances $17,850 $50,853 $33,003. Windows and Storefronts $165,000 $165,000 $0 Exterior Metal Doors & Frames $8,000 $8,000 $0 Interior Doors $19,680 $19,680 $0 Railings $5,200 $5,200 $0 ADA Ramp Accessibility $8,000 $8,000 $0 Stucco $90,000 $90,000 $0 Exterior Paint $35,000 $35,000 .$0 Elevator & Installation $75,000 $75,000 $0 Plumbing $124,000 $202,460 •$78 Fire Extinguishers $370 $370 $0 Additional Labor $0 $54,997 $54,997 Fire Sprinklers $70,000 $79,050 $9,050 Additional Materials $0 $26,301 $26,301 Fire Rting All Penetrations $3,500 $3,500 $0 HVAC $102,400 $148,800 $46,400 Building Water Heater $8,600 $8,600 $0 Electrical $180,000 $191,725 $11,725 Jobsite Supervision $0 $91,010 $91•,010 Performance Bond $0 . $20,000 $20,000 Subtotal Construction Contracts $1,255,100 $1,728,575 $473,475 Contingencies $40,000 $40,000 $0, Subtotal Construction Hard Costs $1,295,100 $1,768,575 $473,475 Soft Costs Final Permits $0 $20,000 $20,000 Final County Appraisal $0 $3,000 $3,000 4 Final Subsidy Layering $0 $4,000 $4;000 Final Closing $0 $1,500 $1,500 Final Audit $0 $4,000 - ,$4,000 Final SURTAX $0 $3,000 $3,000 Final State $0 $3,000 $3;000 RDA Closing Due Dilligence -$7,580 $7,580 $0 . Building Closing Costs $19,347 $19,347 $0 Appraisal $7,000 $7,000 $0 Architect's Fees Phase 1 $23,250 $23,250 $0 Architect's Fees Phase If $54,373 $54,373 _ $0 Architect's Fees Additional Services $0 $24,809 $24,809 Builder's Risk Insurance $49,000 $115,407 $66,407 Building Permit $9,182 $19,652 $10,470 Utilities $20,000 $20,830 $830 GFB Construction Origination Fee . $5,000 $5,000 $0 GFB Construction Loan Interest $20,412 $42,643 $22;231 GFB Closing Costs Constrution Loan $19,915 - $23224 $3,309 EHCL Closing Costs Permanent Loan $15,000 $32,389 $17,389 Environmental Report $2,500 $5,000 $2,500 fHFC Application Fee $0 $0 $0 FHFC Underwriting Fee $5,527 $7,584 $2,057 Inspection Fees $5,400 $16,906 $11,506 Other Insurance $0 $0 $0 Legal Fees $3,000 $18,181 $15,181 Extermination $3,000 $3,000 $0 Marketing and Advertising $0 $0 $0 Property Taxes $53,134 $53,134 $0 . Impact Fees $25,759 $25,759 $0 v Survey $800 $1,757 $957 Permanent Loan Origination Fee $0 $800 $800' _ Construction Loan Payoff $0 $0 $0 Developer Fee $150;000 $358,990 $208,990 Subtotal Soft Costs $499,179 $925,115 $425,936 TOTAL PROJECT COSTS $5,244,279 $6,143,690 $900,137 Approved by:. . 2/9/201.1 Page 1 of 1 First Housing.