Department: Community Services
Department Head/Elected Official: Adrienne M. Holloway, Ph.D., Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Amendment
Project ID (if applicable): D2017-064
Vendor/Entity Legal Name (if applicable): Lakeside Place PFC
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - project was awarded prior to launch of County's M/WBE Program
Request Summary (Agenda Caption):
title
Request for approval of a fourth contract amendment to a loan agreement with Lakeside Place PFC to extend the 18-month construction completion period for the Richcrest Apartments project.
end
Background and Discussion:
On April 7, 2020, Commissioners Court approved an agreement between the Harris County and Lakeside Place PFC for the Richcrest Apartments Project. On January 4, 2022; February 22, 2022; and May 24, 2022, Commissioners Court approved the First, Second, and Third Amendment to the agreement, respectively. Attached for the Commissioners Court review and approval is the fourth amendment to the agreement between Harris County and Lakeside Place PFC for the Richcrest Apartments project. The parties desire to amend said agreement to (i) extend the 18-month construction completion requirement for approximately five months to November 15, 2022, due to supply chain, material, and labor shortages; and (ii) utilize, subject to the approval of the Texas General Land Office (GLO) of the GLO Action Plan Approval Amendment No. 5 to Contract No. 18-495-000-B220, the Harvey 57M Fund rather than the previously anticipated CDBG-DR funding, in the amount of $16,590,000.
Expected Impact:
The expected impact is to allow the project additional time and funding source to finish constructing the multifamily units. The anticipated financial impact to the County is the use of $16,590,000 in Harvey 57M funds rather than CDBG-DR funds.
Alternative Options:
The alternative option is that the project will not be completed within the contracted timeframe.
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 |
|
09/24/19 |
8.i. |
Project Award |
|
04/07/20 |
9.c |
Loan Agreement |
|
01/04/22 |
261 |
Approval of Richcrest First Contract Amendment |
|
02/22/22 |
141 |
Approval of Richcrest Second Contract Amendment |
|
05/24/22 |
145 |
Approval of Richcrest Third Contract Amendment |
Location:
Address (if applicable): 540 Richcrest Drive, Houston, TX 77060
Precinct(s): Precinct 1
|
Fiscal and Personnel Summary |
|
Service Name |
Housing Development |
|
|
SFY 22 |
FY 23 |
Next 3 FYs |
|
Incremental Expenditures (do NOT write values in thousands or millions) |
|
Labor Expenditures |
$ |
$ |
$ |
|
Non-Labor Expenditures |
$16,590,000 |
$ |
$ |
|
Total Incremental Expenditures |
$16,590,000 |
$ |
$ |
|
Funding Sources (do NOT write values in thousands or millions) |
|
Existing Budget |
|
Grant |
$16,590,000 |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Current Budget |
$16,590,000 |
$ |
$ |
|
Additional Budget Requested |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Additional Budget Requested |
$ |
$ |
$ |
|
Total Funding Sources |
$16,590,000 |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
Current Position Count for Service |
- |
- |
- |
|
Additional Positions Requested |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
Anticipated Court Date: August 2, 2022
Emergency/Disaster Recovery Note: Disaster Recovery related item
Contact(s) name, title, department: Rene Martinez, Chief Housing and Community Development Officer, Community Services
Attachments (if applicable): Fourth Amendment to Richcrest Apartments Loan Agreement