Requesting approval for a six (6) month extension to the FY 07 Contract between the Urban County Program and Affordable Homes of South Texas, Inc. (AHSTI)

The UCP entered into contract with AHSTI on November 7, 2007 in the amount of $500,000.  The purpose of this contract was to build sixteen (16) single-family homes.  Currently, AHSTI has submitted all family names and addresses however some of these units are still under construction and pending loan closings.  The UCP has committed all FY 07 funds for this contract and has expended $36,027.91 for reimbursement of costs.  At this point, AHSTI is working on completing construction and loan closings so that all pertinent documentation may be submitted in order to initiate final payment.  The UCP recommends approval of this extension in order to allow for compliance of the contract terms.