HomeMy WebLinkAboutIowa Department of Economic Development-5/10/2010Iowa Department of Economic Development
Community Development Block Grant (CDBG) Program
Contract Amendment
Recipient: Waterloo
Contract Number: 08 -NSP -018
Contract Amendment Number: 1
Amendment Effective Date: March 29, 2010
The Iowa Department of Economic Development (IDED) hereby amends the above referenced Community
Development Block Grant (CDBG) Program contract by revising performance targets.
The contract by and between the Iowa Department of Economic Development ("Department or IDED") and
Waterloo ("Recipient") is amended as of the date shown above as follows:
AMEND each Article in the Contract that refers to "Attachment A, Program Description and Budget" to "Attachment
A, Program Description and Budget, as amended."
Except as otherwise revised above, the terms, provisions, and conditions of the Contract remain unchanged and are in
full force and effect.
RECIP I F: Water,
BY:
ayor, Waterloo
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
BY:
Timothy R. Waddell, Division Administrator
IOWA NEIGHBORHOOD STABILIZATION PROGRAM DESCRIPTION & BUDGET
ATTACHMENT A
Name of Recipient: City of Waterloo
Contract Number: 08 -NSP -018
DATE: March 29, 2010
AMQUNTB JDGET
Activity 1:
120% AMI (#698) - Financing LMMI
50% AMI (#699) - Financing LH -25
Provide assistance in the form of a forgivable loan
as a soft -second mortgage
Provide financing for new construction of homes
through Habitat of Humanity
$0
Activity 2:
120% AMI (#601) - Acquisition LMMI
50% AMI (#602) - Acquisition LH -25
Acquisition of foreclosed or abandoned homes
Acquisition of foreclosed or abandoned homes to
serve at or below 50% AMI households
3
200,000
$200,000
Activity 3:
120% AMI (#696) - Rehabilitation LMMI
50% AMI (#697) - Rehabilitation LH -25
Rehabilitation of foreclosed or abandoned homes to
serve households at or below 50% AMI
4
360,000
0
$360,000
Activity 4:
120% AMI (#665) - Land Banks LMMI
50% AMI (#666) - Land Banks LH -25
Land bank foreclosed properties for future NSP
eligible use
$0
Activity 5:
120% AMI (#675) - Demolition LMMI
50% AMI (#676) - Demolition LH -25
Demolition of blight properties
Demolition of blight properties to serve at or below
50% AMI households
4
40,000
25,000
$65,000
Activity 6:
120% AMI (#651) - Redevelopment/New Construction LMMI
50% AMI (#652) - Redevelopment/New Construction LH -25
Redevelopment of multi -family housing
4
189,570
40,000
$229,570
Activity 7:
120% AMI (#655) - Counseling LMMI
50% AMI (#656) - Counseling LH -25
Homebuyer counseling
4
10,000
10,000
$20,000
ADMINISTRATION (#181)
$51,000
$51,000
TOTAL AMOUNT OF ALL FUNDS BUDGETED:
19
$850,570
$75,000
$925,570