Explanation
Background: This legislation authorizes the Director of Development to modify a grant agreement with CHP Homeport Homes, LLC to increase the contract amount by $27,000.00 to cover escalating construction costs.
Original contract amount
HOME $158,668.00 Ord 1274-2021
Bond $3,431.63 ACPO 003815 Ord 0043-2019
$7,065.37 ACPO 004967 Ord 0291-2020
Subtotal $169,165.00
Modification 1 $27,000.00 ACPO 006458 Ord 0966-2021
Total $196,165.00
Two agreements for 1310 Puritan Avenue were entered into with CHP Homeport Homes, LLC for a total of $169,165.00 for acquisition and redevelopment of the site in the American Addition neighborhood in north central Columbus. As the project has proceeded, rapidly increasing construction costs have resulted in the builder increasing their pricing and additional funds are needed to cover unexpected construction costs. This legislation will amend the bond grant to increase the amount of that award from $10,497.00 to $37,497.00, an increase of $27,000.00.
Emergency action is requested as so that construction on the home may begin without delay.
Fiscal Impact: Funds for this expenditure are available on ACPO 006458.
Contract Compliance: The contract compliance number is 019329 and expires on January 13, 2024.
Title
To authorize the Director of Development to modify a bond contract with CHP Homeport Homes, LLC. for a project at 1310 Puritan Avenue; to authorize the expenditure of $27,000.00 from ACPO 006458; and to declare an emergency. ($27,000.00)
Body
WHEREAS, two agreements for 1310 Puritan Avenue were entered into with CHP Homeport Homes, LLC in the amounts of $158,668 in HOME funds and $10,497.00 in bond funds for acquisition and redevelopment of the site into a single family home homeownership opportunity; and
WHEREAS, it has become necessary to modify the project budget to increase the contract amount by $27,000.00; and
WHEREAS, an emergency exists in the usual daily operation of the Department of...
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