IDED LHAP amend contractApril 18, 2003
Department of
Economic Development
SMART IDEATM
The Honorable Terrance Duggan, Mayor
City of Dubuque
Housing & Community Development
1805 Central Ave.
Dubuque, IA 52001
SUBJECT: Contract Number 01-LHAP-002 -- Amendment Request Number Three (3)
Dear Mayor Duggan:
The Iowa Department of Economic Development (IDED) hereby amends the above referenced Local
Housing Assistance Program (LHAP) contract by modifying affordability targeting and extending the term.
This amendment is in response to your request dated March 24, 2003.
The contract by and between the Iowa Department of Economic Development ("Department or/I)ED")
and Dubuque ("Recipient") is amended as of the date shown above as follows:
AMEND "Exhibit D, Program Description and Budget" to reflect this amendment (attached) and now read
"Exhibit D,:as amended."
AMEND "Exhibit D, ogram Descnptmn and Budget to reflect that program beneficiaries nay have
incomes up to 80% of area median income.
AMEND the project completion date and agreement expiration date to now read August 30, 2003.
Except as otherwise revised above, the terms, provisions, and conditions of the Contract remain unchanged
and are in fall force and effect.
PLEASE FILE THIS AMENDMENT MATERIAL WITH YOUR ORIGINAL CONTRACT
DOCUMENT so that you will have current information on the status of your contract. Please contact me
at (515) 242-4753 if you have any questions.
Sincerely,
Project Manager
Attachment
cc:: David Harris; City of Dubuque
Housing & Community Development
Fiscal
Thomas J. V[lsack, Governor Sally J. Dederson, Ueutenant Governor
Michael T. Blouin, Director
200 E~s[ Grand Avenue, Des Moines, Iowa 50309 Phone: 515.242.4700 Fax: 515.242.4809 www. lowasmartidea, com
LHAP PROGRAM
NAME OF RECIPIENT: City of Dubuque
AGREEMENT #: 01-L}tAP-002
LHAP PROGRAM DESCRIPTION AND BUDGET
EXHIBIT D - "As Amended"
~::i~?.i~?. V;:0~ ~iiiii:: i
Code #707- GeneraI ttomebuyer Assistance- Constraciion of 5 unit condominiums to sell to 5 LMI ii:~i::!?:ii~iii::i?~?:i
households with incomes up to 80% of area median. LHAp dollars will be used to buy down the cost of each August 30, 2003
:ondo from $77,000 to a sale price of $57,000.
I
BUDGET
~707 ttomebuyer Asskst LHAP $I00,000 $100,000
write down of sale price of units)
Mx, ate Lendm- & own~ $24L 000 $247.000
~ib CDBG $30,000 $30,000
:lemo & site prep)
2izy CDBG $25.000 $25,000
:(homebuy~ ass/stance pro.am)
TOTAL ALL FUNDS $100,000 $55,000 $247,000 $402,000
g:\proj ect s~bcl~document s~hap~Exhibit D