BY COUNCILOR REINERT:
RESOLVED, that the proper city officials are hereby authorized to enter into an amendment, substantially in the form of that on file in the office of the city clerk as Public Document No. __________, to the HOME Program City Homes III Agreement No. 19687 with Northern Communities Land Trust (NCLT) extending the date for project completion to December 31, 2006, at no change in project compensation under the terms of the agreement.
STATEMENT OF PURPOSE: The purpose of this resolution is to approve a contract amendment to extend the term of the contract to December 31, 2006. NCLT has completed seven of the 11 units committed with four units remaining to be completed at Hawk Ridge Estates in Lester Park. The HRA housing development project, Hawk Ridge Estates, is significantly behind schedule, which in turn, has delayed the NCLT housing construction. NCLT now has two units under construction and is doing the site preparation work for the final two units. NCLT anticipates all four units to be completed during the first half of 2006.