Primary Department: Housing and Community Development
Primary Department Head/Elected Official: Thao Costis, Executive Director
Secondary Department: N/A
Secondary Department Head/Elected Official: N/A
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Amendment
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWBE Contracted Goal (if applicable): N/A
MWBE Current Participation (if applicable): N/A
Justification for 0% MWBE Participation Goal: N/A - Goal not applicable to request
Grant Indirect Costs Rate (if applicable): N/A
Justification for 0% Grant Indirect Costs Rate (if applicable): N/A - Not a grant item
Request Summary (Agenda Caption):
title
Request by Housing and Community Development for approval of an amendment to an interlocal agreement with Harris County Housing Finance Corporation (HCHFC) clarifying the treatment of program income and interest from ARPA funds received by the HCHFC.
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Background and Discussion:
On March 26th, 2024, Commissioners court approved the transfer of $53,964,649 to HFC in existing project allocations with respect to construction reimbursements.
Harris County and HCHFC have previously entered into an Interlocal Agreement dated April 2, 2024 to simplify funding for Construction Reimbursement Requests to allow for expedited payment without sacrificing the necessary oversight and controls that ensure Construction Funds are not used in a way that contradicts applicable law, the terms and conditions of ARPA, or the agreement(s) between the Parties for any given transaction ( the " Agreement ").
The Agreement does not provide clear guidance on the HCHFCs ability to retain revenue and/or program income generated from ground lease payments or payment of other fees made to the HCHFC or a wholly owned subsidiary or affiliate of the HCHFC received as a direct or indirect result of Harris County's grant of ARPA funds to HCHFC.
Thus, the Parties desire to amend Section ...
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