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HomeMy WebLinkAboutC24-117 Letter_Eagle Villas Activity Bond AllocationBoard of County Commissioners 970-328-8605 970-328-8629(f) eagleadmin@eaglecounty.us www.eaglecounty.us February 27,2024 Mr.Connor Larr Ulysses Development Group 210 University Blvd,Suite 460, Denver,CO 80206 RE:Eagle County Government Private Activity Bond Allocation Dear Mr.Larr: Eagle County Government (the “County”)has reviewed your request for the allocation of 2024 and 2025 Private Activity Bond capacity to the Eagle Villas Apartments (“Eagle Villas”).Eagle County’s 2024 allocation is in the amount of $3,478,699.The amount of the 2025 allocation is unknown,but assumed to be a similar amount. Eagle County has prioritized the preservation of the deeply affordable Eagle Villas and will agree to formally commit the 2024 allocation to this project. Prior to September 1,2024,the County will complete the necessary filings to appropriately assign the 2024 Private Activity Bond capacity to the project.The County may consider allocation of the 2025 Private Activity Bond capacity to the project after it receives a notification from the State of Colorado in 2025,but cannot make a commitment at this time. We appreciate your team’s efforts to preserve the affordability of and improve Eagle Villas and look forward to a successful partnership in this endeavor. Sincerely, 500 Broadway,P.O.Box 850,Eagle,Colorado 81631 DocuSign Envelope ID: 3761AC36-726D-4EA8-9749-3E07EDAD3F57