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Home My WebLink AboutIowa Finance Authority-Grant Agreement-09.08.2009 9-8- °9 Yze,, -e77 2ND AMENDMENT TO JUMPSTART HOUSING ASSISTANCE PROGRAM GRANT AGREEMENT BETWEEN THE IOWA FINANCE AUTHORITY AND CITY OF WATERLOO DATED AS OF JULY 27, 2009 WHEREAS, the Iowa Finance Authority ("Authority") is a public instrumentality and agency of the State of Iowa authorized and empowered by the provisions of Chapter 16 of the Code of Iowa, as amended (the "Act") to assist in the protection, preservation, creation, and improvement of access to safe and affordable housing; and WHEREAS, City of Waterloo ("Grantee") is an Iowa Municipal Corporation, organized pursuant to Iowa Code Chapter 28H; and WHEREAS, the Jumpstart Housing Assistance Program (the "Program") was created within the Authority in accordance with Iowa Code section 16.40 and rules promulgated by the Authority and set forth in the Iowa Administrative Code Section 265, Chapter 29 (the "Rules") to provide financial assistance for the purpose of providing financial assistance for housing for victims of the natural disasters of 2008; and WHEREAS, the Authority and the Grantee previously entered into a Grant Agreement (the "Agreement") pursuant to which the Authority granted certain funds to the Grantee with which to make loans to persons whose homes were adversely affected by the natural disasters of 2008; and WHEREAS, the Iowa General Assembly in April 2009, passed 2009 Iowa Acts SF 376 ("SF 376"), continuing the Program, making certain modifications thereto, and appropriating five million dollars ($5,000,000.00)to the Authority for the Program; and WHEREAS, the Authority and the Grantee desire to amend the Agreement to allow the Grantee to receive monies from the newly appropriated funds which to award financial assistance to eligible residents pursuant to the Program in order to facilitate the purposes of the Program as set forth in SF 376 and the Authority's rules; NOW THEREFORE, for and in consideration of the premises and the respective covenants, agreements and representations hereinafter contained, the Grantee and the Authority hereby agree to amend the Agreement as follows: 1. New Exhibit A. Exhibit A to the Agreement shall be and hereby is stricken, and an Amended Exhibit A, as attached hereto, is hereby adopted in its place. 2. New Schedule 1. Schedule 1 to the Agreement shall be and hereby is stricken, and an Amended Schedule 1, as attached hereto, is hereby adopted in its place. 3. Agreement otherwise Unchanged. Except as expressly modified by the terms of this First Amendment, the terms of the Agreement remain unchanged and in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above written,by their officers duly appointed and authorized. IOWA FINANCE AUTHORITY (Seal) By: Executive Director Date: CITY OF WATERLOO By. �4imot y urley Title: MAYOR Date: September 8, 2009 AMENDED EXHIBIT A GRANT DATA Date of Grant Agreement: October 2, 2008 Name and address of Grantee: City of Waterloo 620 Mulberry Street Waterloo,IA 50703 Authorized Representative of Grantee: Mayor Tim Hurley Initial allocation of grant funds: See attached Schedule 1 Other Local Government Participants represented by Grantee (if any): See attached Schedule 1 Housing assistance targets: See attached Schedule 1 General Obligations. The Grantee shall administer the Program within its jurisdiction by processing applications for financial assistance under the Program and awarding financial assistance as appropriate. Grantee shall comply with the program rules and all other reasonable directives or requests of the Authority related to the Program. Grantee shall utilize forms, online applications, and similar materials provided by the Authority and shall keep all computer and other records up to date and current. No financial assistance shall be provided that is not documented by means of the appropriate forms or software. Special Conditions: Grantee shall cause its relevant personnel to participate in training provided by the Authority. Grantee shall cooperate with other local government participants and with the Authority in developing and using an outreach plan to inform potential applicants of the Program. All awards of financial assistance shall be acknowledged as being part of the Jumpstart Housing Assistance Program. Funding provided pursuant to SF 376 shall not be used to pay the Grantee an administrative fee. Grantee shall make available all forms of financial assistance authorized by rule 265 - -29.5, Iowa Administrative Code. The Authority strongly encourages the Grantee to delegate the processing of Jumpstart Interim Mortgage Assistance to one or more Iowa Mortgage Help counseling agencies, and will provide all necessary assistance to facilitate such an arrangement. Projected Uses of Housing Assistance. The Grantee's targets for each of the eligible uses are as follows: Jumpstart Housing Down Payment Assistance: 20 %of allocation Jumpstart Housing Repair or Rehabilitation: 70 %of allocation Jumpstart Housing Interim Mortgage Assistance: 10 % of allocation • Jumpstart Housing Assistance Schedule 1-Amendment#2 First Draw First Disaster Recovery Zone Jumpstart Housing Administration Jumpstart Housing Administration First Draw* Adntin** Jumpstart Housing Administration Draw*** $ 20,000,000 5% $ 24,000,000 5% 30% 5% $ 5,000,000 0% September 2008 Feburary 2009 July 2009 City of Cedar Falls 4.64% $ 928,590.79 $ 46,430 $ 1,114,308.95 $ 55,715 $ 120,905.00 $ City of Cedar Rapids 39.65% $ 7,930,467.61 $ 396,523 $ 10,141,561.13 $ 507,078 $ 2,297,617.00 $ CityofDesMoines 3.29% $ 658,711.43 $ 32,936 $ 790,453.71 $ 39,523 $ 162,715.00 $ City of Iowa City 3.43% $ 686,196.58 $ 34,310 $ 1,023,435.90 $ 51,172 $ 797,972.00 $ City of Waterloo 3.42% $ 683,988.69 $ 34,199 $ 820,786.43 $ 41,039 $ 200,000.00 $ SWIPCO SIMPCO REGION XII N W IPDC MAPA City of Council Bluffs total region 2.71% $ 541,087.99 $ 27,054 $ 649,305.59 $ 32,465 $ 48,362.00 $ NIACOG MIDAS REGION 6 Boone Co Story Co Jasper Co Polk Co City of Ames City of West Des Moines total region 8.65% $ 1,729,889.17 $ 86,494 $ 1,850,867.00 $ 92,543 $ 225,000.00 $ INRCOG UERPC total region 10.63% $ 2,126,233.97 $ 106,312 $ 2,551,480.76 $ 127,574 $ 181,357.00 $ ECICOG total region 7.88% $ 1,575,276.63 $ 78,764 $ 2,025,331.95 $ 101,267 $ 691,072.00 $ ECIA IN-STATE SEIRPC City of Davenport City of Dubuque total region 10.87% $ 2,174,838.74 $ 108,742 $ 2,609,806.49 $ 130,490 $ - $ SICOG CVPD AREA XV Dallas Co Warren Co Marion Co total region 4.82% $ 964,718.41 $ 48,236 $ 422,662.09 $ 21,133 $ 275,000.00 $ *IFA will wire funds to grantee upon receipt of signed grant agreement and payment request form.The First Draw request shall not exceed the lesser of 30%of the initial allocation of grant funds or such amount as grantee reasonably establishes to IFA as necessary to assist eligible residents.Grantee shall request subsequent disbursements based on amount of funds committed. **Admin fee for first draw is automatic,additional admin fee is based on amount of funds committed. ***Grantee shall request disbursements based on amount of funds committed. Note:Cities and COGS printed in Bold on Schedule I,by signing the grant agreement,hereby agree to work with other eligible local participants in their region,specifically,the COGs printed in bold above shall act as representatives for those non-bolded COGs,counties and cities,listed directly below,fur the prompt and equitable distribution of funds and overall administration of the Jumpstart Housing Program.