Request for approval of six (6) month extension for an Urban County Program – Community Housing Development Organization (CHDO) contract.

In June of 2011, the U.S. Department of Housing and Urban Development (HUD) completed a review of the Consolidated Plans submitted by the Urban County Program. Due to this review, HUD halted UCP’s homebuyer program in July 2011. As per the report, the UCP was advised to re-evaluate and revise its current recapture policy including lien documents. All pertinent documents and policies were revised and the freeze was lifted December 2011. This contract was directly affected by this freeze. The UCP recommends and extension to the contract in order to ensure successful project completion by Proyecto Azteca. Proyecto Azteca is under contract to construct twenty-five (25) single-family housing units for low-income families. By granting the extension, Proyecto Azteca will be able to produce thirty-five (35) units. The contract information is a follows:

CHDO	Fiscal Year	Amount	Contract Date	Original Contract Exp.	New Contract Exp.
Proyecto Azteca	2009	$1,000,700	Sept. 28, 2009	Sept 27, 2011	Nov. 27, 2012