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): D2017-090
Vendor/Entity Legal Name (if applicable): HCHA Redevelopment Authority, Inc. and First Met Apartments, LP
MWBE Contracted Goal (if applicable): 30%
MWBE Current Participation (if applicable): N/A
Justification for 0% MWBE Participation Goal: N/A - Goal is not 0% and is listed above
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 for approval of a third amendment to an agreement between Harris County, HCHA Redevelopment Authority, Inc., and First Met Apartments, LP to extend the construction completion date to June 1, 2025, due to unforeseen site conditions for the First Met Apartments project.
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Background and Discussion:
On August 11, 2020, Harris County Commissioners Court approved funding for and submission of the project (Project Number D2017-090).
On August 23, 2022, Commissioners Court approved a request for funding for the construction of First Met Senior Apartments.
On April 25, 2023, Commissioner's Court approved the First Amendment to the agreement to adjustment the Leverage Budget to include the following: a) an increase in the Construction Line Item by $33,957, due to adding water submeters on all units; b) an increase in the General Soft Cost Line Item by $440,000, which includes HCHA Sales Tax Savings ($350,000) and construction Management Fee ($90,000); c) an increase in the Construction Financing Line Item by $142,566, due to higher than anticipated Builder's Risk Premium; d) an increase in the Permanent Loan Financing Line Item by $200,000 due to additional legal fee and title fees....
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