The City of Houston approved a Second Amendment to the Developer Agreement with Change Happens CDC to increase the maximum contract amount from $2.1 million to $3.1 million. The amendment provides an additional $996,726 in HOME funds, covering increased construction costs and the addition of two affordable homes, bringing the total to 10 homes. The agreement includes updates to project cost projections, adjustments to developer fees for operating expenses, and changes to performance timelines and sales contracts. The program is designed to expand nonprofit housing capacity and assist low- and moderate-income homebuyers.
This decision helps address Houston's housing affordability challenges by expanding the availability of affordable housing through nonprofit partnerships. The amendment ensures that more homes can be built and sold at affordable prices, increasing access to homeownership for low- and moderate-income families.