HomeMy WebLinkAboutR25-028 Authorizing Executive Dir of ECHDA to Execute Documents Associated with Tree Farm Units Docusign Envelope ID:AB893777-2AD7-49A9-B1D3-C962CE355133
Commissioner scherr moved adoption
of the following Resolution:
EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY
RESOLUTION NO. 2025- 028
RESOLUTION AUTHORIZING EXECUTIVE DIRECTOR OF THE EAGLE COUNTY
HOUSING AND DEVELOPMENT AUTHORITY TO EXECUTE AGREEMENTS AND
DOCUMENTS ASSOCIATED WITH DEED RESTRICTIONS,AND THE PURCHASE
AND RESALE OF TREE FARM UNITS
WHEREAS,the Tree Farm PUD is a transit-oriented mixed-use community that
includes an affordable housing plan that meets and exceeds the recommended mitigation of the
Eagle County Affordable Housing Guidelines through provision of a mix of 40 affordable rental
units, 10 price capped deed restricted units and approximately 150 resident-occupied deed-
restricted units, resulting in a unit equivalent of 100 affordable housing units. The Tree Farm
PUD Affordable Housing Plan is detailed in the Tree Farm PUD Guide and assures that long-
term affordable housing is provided in the PUD, to provide public benefit, and conform with the
Comprehensive Plan; and
WHEREAS, affordable housing within the Tree Farm PUD is to be provided in
three (3) general types: price capped deed restricted for sale,price capped deed restricted rental
and resident occupied for sale deed restricted, with quantities specified for each in the PUD
Guide; and
WHEREAS, for the initial sale of each non-price capped for sale housing unit in the
PUD, the developer is required to extend a First Right of Offer to Eagle County(as such term is
defined in the PUD Guide), for a period not to exceed sixty(60) days prior to formally listing
those units for sale. This provision is intended to allow Eagle County the opportunity to purchase
units for the sole purpose of adding to the County' s affordable housing stock; and
WHEREAS, it will be necessary for the Eagle County Housing and Development
Authority(the "ECHDA")to execute certain documents associated with conveyance of deed
restrictions agreements, and/or for purchase of certain non-price capped for sale units, if ECHDA
elects to purchase a unit or units pursuant to the First Right of Offer contained in the PUD Guide;
and
WHEREAS,ECHDA desires to delegate to the Executive Director of ECHDA and in
her absence, the Eagle County Housing Manager, the authority to negotiate, enter into and
Docusign Envelope ID:AB893777-2AD7-49A9-B1D3-C962CE355133
execute on its behalf all deed restriction agreements for price capped rental housing, price-
capped for sale housing and resident occupied for sale housing and any associated documents,
including but not limited to: options to purchase; and all documents, instruments and other forms
that may be necessary to complete the purchase of any non-price capped for sale units pursuant
to the First Right of Offer contained in the PUD Guide, and to execute any documents associated
with the resale of such units to third-party purchasers, including, but not limited to: Contracts to
Buy and Sell Real Estate, closing authorizations and instructions, settlement statements, closing
documents, and deeds, all subject to prior review by the Eagle County Attorney's Office and
subject to availability of budgeted and appropriated funds; and
WHEREAS, agreements and documents committing funds for the purchase of any non-
price capped for sale units and executed by the Executive Director of the ECHDA shall be
identified on the next available agenda for the ECHDA Board of Commissioners.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS OF THE EAGLE
COUNTY HOUSING AND DEVELOPMENT AUTHORITY:
THAT the ECHDA Board hereby authorizes the Executive Director of ECHDA and in
her absence, the Eagle County Housing Manager, the authority to negotiate, enter into and
execute on its behalf all deed restriction agreements for affordable rental housing, price capped
for sale housing and resident occupied for sale housing and any associated documents, including
but not limited to: options to purchase; and all documents, instruments and other forms that may
be necessary to complete the purchase of any non-price capped for sale units pursuant to the First
Right of Offer contained in the PUD Guide, and to execute any documents associated with the
resale of such units to third-party purchasers, including, but not limited to: Contracts to Buy and
Sell Real Estate, closing authorizations and instructions, settlement statements, closing
documents, and deeds, all subject to prior review by the Eagle County Attorney's Office, and
subject to availability of budgeted and appropriated funds.
THAT,the Commissioners of the Eagle County Housing and Development Authority
find, determine and declare that this Resolution is necessary for the public health, safety and
welfare of the citizens of Eagle County, State of Colorado.
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Docusign Envelope ID:AB893777-2AD7-49A9-B1D3-C962CE355133
MOVED, READ AND ADOPTED by the Eagle County Housing and Development Authority,
at its regular meeting held this 18th day of March, 2025.
Signed by:
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EAGLE COUNTY HOUSING AND
DEVELOPMENT AUTHORITY
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ATTEST: DocuSigned by: DocuSigned by:
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Secretary to ECHDA Jeanne McQueeney
President, ECHDA
Signed by:
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Tom Boyd
Commissioner
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Matt Scherr
Commissioner
Commissioner Boyd seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner McQueeney Aye
Commissioner Boyd Aye
Commissioner Scherr Aye
This resolution passed by 3/0 vote of the Eagle County Housing and Development
Authority, County of Eagle, State of Colorado
