Department: Housing and Community Development
Department Head/Elected Official: Thao Costis, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Award
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request by Housing and Community Development for approval to increase the purchase price from $4,763,500 to $5,810,000 and decrease due diligence and eligible pre-development costs from $2,536,500 to $1,490,000 without increasing the maximum amount of the previous conditional award of up to $7,300,000 of the American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds to purchase the land and assign the current purchase contract to Harris County for the Yellow Cab Project for the Harris County Housing Finance Corporation.
end
Background and Discussion:
On August 29, 2023, Commissioners Court approved for Housing and Community Development to negotiate the purchase of land for the Yellow Cab Project for a maximum price of $4,760,000 and $2,540,000 for eligible pre-development costs. Focus Area Team and Steering Committee approved a total allocation for this project of $7,300,000.
On March 26, 2024, Commissioners Court approved for Housing and Community Development a conditional award of up to $7,300,000 of the American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds to purchase the land with a maximum purchase price of $5,810,000 and assign the current purchase contract to Harris County Housing Finance Corporation for the Yellow Cab Project.
On April 23, 2024, Commissioners Court approved for Housing and Community Development a conditional award of up to $7,300,000 of the American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds to purchase the land with a maximum purchase price of $4,763,500 and directly purchase the land for Harris County Housing Finance Corporation for the Yellow Cab Project.
Since then, the purchase price has increased from $4,763,500 to $5,810,000 and the due diligence and eligible predevelopment costs for the Yellow Cab Project has decreased from to $2,536,500 to $1,490,000. The increase in the purchase price will not increase the previous conditional award of up to $7,300,000.
Expected Impact:
$7,300,000 in ARPA State and Local Fiscal Recovery Funds, with up to $5,810,000 for purchase of the land and $1,490,000 in ARPA State and Local Fiscal Recovery Funds for due diligence and eligible pre-development costs for the Yellow Cab Project.
Alternative Options:
If not approved, the project will not move forward with the County for the development of affordable housing.
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
X Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
_ Governance and Customer Service
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
8/29/2023 |
13. |
Approval to negotiate the purchase of 3201 Hardy Street, 1406 Hay Street, 1500 Hays Street, Houston, TX 77009 with Houston Land Bank assigning their current purchase contract to Harris County for a maximum price of $4,812,750. |
|
03/26/2024 |
635 |
Approval to negotiate to assume purchase of 3201 Hardy Street, 1406 Hay Street, 1500 Hays Street, Houston, TX 77009 with Houston Land Bank assigning their current purchase contract to Harris County for a maximum price of $5,810,000. |
|
04/23/2024 |
229 |
Approval to negotiate to assume purchase of 3201 Hardy Street, 1406 Hay Street, 1500 Hays Street, Houston, TX 77009 with Houston Land Bank assigning their current purchase contract to Harris County for a maximum price of $4,763,500. |
Location:
Address (if applicable): 1406 and 1500 Hays Street, Houston, TX 77009
Precinct(s): Precinct 2
|
Fiscal and Personnel Summary |
|
Service Name |
Affordable Rental Housing |
|
|
|
Current Fiscal Year Cost |
Annual Fiscal Cost |
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|
Labor |
Non-Labor |
Total |
Recurring Expenses |
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Funding Sources |
|
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Existing Budget |
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|
|
|
|
2651 - American Rescue Plan 2021 |
$ |
$7,300,000 |
$7,300,000 |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
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Total Current Budget |
$ |
$ |
$ |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
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Choose an item. |
$ |
$ |
$ |
$ |
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Total Additional Budget Request |
$ |
$ |
$ |
$ |
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Total Funding Request |
$ |
$7,300,000 |
$7,300,000 |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
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Current Position Count for Service |
- |
- |
- |
- |
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Additional Positions Request |
- |
- |
- |
- |
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Total Personnel |
- |
- |
- |
- |
Anticipated Court Date: June 4, 2024
Anticipated Implementation Date (if different from Court date): N/A
Emergency/Disaster Recovery Note: COVID-19 related item
Contact(s) name, title, department: Sam Borders, Director, Multi-Family Housing, Housing and Community Development
Attachments (if applicable): Court Order