BY COUNCILOR GILBERT:
RESOLVED, that the proper city officials are hereby authorized to enter into a second amendment, substantially in the form of that on file in the office of the city clerk as Public Document No. __________ to the 2004 Community Development Program Northern Communities Land Trust: City Homes Phase III - Infrastructure Agreement which extends the term of the agreement to June 30, 2007 with no change in compensation under the agreement.
STATEMENT OF PURPOSE: The purpose of this resolution is to extend this contract until June 30, 2007 in order to allow sufficient time to allow for the payment of assessments and fees for infrastructure improvements for 5 new affordable homes. The funds will be used to pay for infrastructure assessments and fees for housing units located at Palm Street and Teak Avenue and for housing units to be constructed at Lester Street near the Hawk Ridge Development. These remaining funds (approximately $22,000 of a $270,000 contract) were originally budgeted for infrastructure costs associated with the Harbor Highlands single family housing development phase. Due to delays in the commencement of that phase of the Harbor Highlands development, and to close out the contract, NCLT is requesting to redirect the funding to projects with current need. It is anticipated that these funds will be completely spent down by April 2007.