Request for approval to increase the due diligence and eligible pre-development costs without increasing the maximum amount of the previous conditional award of up to $7,300,000 of the American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds to purchase the land and assign the current purchase contract to Harris County for the Yellow Cab Project for the Harris County Housing Finance Corporation, and approval for Harris County to directly purchase the land rather than through the assignment of the Purchase Agreement from the Houston Land Bank (HLB). The maximum purchase price has been reduced to $4,763,500 with an increase in the ARPA State and Local Fiscal Recovery Funds for due diligence and eligible predevelopment costs for the Yellow Cab Project from $1,490,000 to $2,536,500, which will not increase the previous conditional award of up to $7,300,000.

Contract - Award Passed Introduced April 10, 2024

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