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Home My WebLink AboutMinutes 05/06/2025 PUBLIC HEARING May 6, 2025 Present: Jeanne McQueeney Chairman Tom Boyd Commissioner Matt Scherr Commissioner Regina O'Brien Assistant to County Manager Christina Hooper Deputy County Attorney Kathy Scriver Deputy Clerk to the Board This being a scheduled Public Hearing,the following items were presented to the Board of County Commissioners for their consideration: Constituent Input Chairman McQueeney opened and closed constituent input, as there was none. Commissioner Updates Commissioner Boyd shared updates,noting the Northwest Colorado Council of Governments'economic summit featured a state demographer's presentation on growth. Eagle County's census population was 52,197 in 2010,with an estimated 54,300 residents as of July 1,2024. Despite how some folks felt about the growth in the community,the numbers indicated limited residential growth. He also commented on warmer weather and e-bikes, mentioning the Shift Bike program's May 1st launch and its latest figures: 122,000 miles ridden,21 kg of CO2 saved, and 4.4 million calories burned,with locals eligible for$25 monthly. Commissioner Scherr regretted his absence from the Economic Summit. He commended Eagle County's exceptional Emergency Management Department for its proactive prevention,protection, and planning efforts. He highlighted their recent hosting of a regional recovery symposium with the Colorado Division of Homeland Security and Emergency Management. Commissioner Scherr expressed confidence in the community's ability to recover well from any future emergency,thanking Birch Barron and his team for their preparedness efforts for such events. Chairman McQueeney stated that she,Regina O'Brien, and Laura Hartman attended the Economic Summit, where discussions focused on housing and childcare solutions implemented by other municipalities. Additionally, Chairman McQueeney participated in the CSU Extension Office advisory committee meeting,which provided updates on the year's activities and preparations for the Fair and Rodeo, including the 4-H exhibits. County Manager Updates Regina O'Brien highlighted the Housing team's presentation on housing solutions at the Economic Summit. She also promoted the Beyond Lawn program,which offers water conservation tips for maintaining attractive lawns. A related workshop is scheduled for May 8th from 4:30 PM to 6:00 PM at CMC. 1 05/06/2025 Consent Agenda 1. Early Head Start Screenings: Governance&Health and Safety Checks Kendra Kleinschmidt,Human Services 2. Intergovernmental Agreement Between Eagle County and Pitkin County Regarding Colorado Child Care Assistance Program Services Megan Burch,Human Services 3. Colorado Division of Aeronautics Discretionary Aviation Grant Resolution 2025 -Colorado Department of Transportation David Reid,Airport 4. Approval of minutes for the Board of County Commissioners (BoCC)meetings held on April 7,April 8, and April 15th, 2025 Kathy Scriver, Clerk&Recorder's Office Commissioner Boyd moved to approve the Consent Agenda for May 6, 2025 as presented. Commissioner Scherr seconded the motion. The vote was declared unanimous. Commissioner Scherr moved to adjourn as the Eagle County Board of County Commissioners and reconvene as the Eagle County Housing and Development Authority. Commissioner Boyd seconded the motion. The vote was unanimous. Eagle County Housing and Development Authority 1. ECHDA Resolution 2025-01 Authorizing Any Commissioner of the Eagle County Housing and Development Authority to Execute Documents Necessary to Effectuate the Terms of the Outline of Special Limited Partner and Acquisition Subordinate Loan Terms, as Amended, for the Eagle Villas Project Resyndication Tori Franks,Resiliency/Housing Executive Summary: This Resolution authorizes any commissioner of the Eagle County Housing and Development Authority to sign documents to effectuate the closing of the resyndication of the Eagle Villas project. Tori Franks,Resiliency Director, detailed the Housing Authority's role and upcoming phases of the Eagle Villas Project. Her presentation, including a PowerPoint, introduced the team and process. The resyndication was anticipated to conclude on Friday, May 16th. For consideration was a signature authority resolution and an updated term sheet,which described the Housing Authority's collaboration with Ulysses Development Group. She acknowledged key individuals involved. Originally constructed between 1994 and 1996 using low-income tax credits with a 30-year restriction expiring at the close of 2024,Ulysses Development Group contacted the county for acquisition assistance. Resyndication would secure permanent and construction financing,establishing a stable, long-term arrangement. The Housing Authority was proposed to continue as a special limited partner to facilitate a property tax exemption for Eagle Villas. The Housing Authority would also remain a subordinate lender in the project and assume a$5 million DOLA loan. 2 05/06/2025 Commissioner Boyd moved to approve the Resolution Authorizing Any Commissioner of the Eagle County Housing and Development Authority to Execute Documents Necessary to Effectuate the Terms of the Outline of Special Limited Partner and Acquisition Subordinate Loan Terms, as Amended, for the Eagle Villas Project Resyndication. Commissioner Scherr seconded the motion. The vote was declared unanimous. 2. Second Amendment to Term Sheet between Eagle County Housing and Development Authority and Ulysses Development Group for Eagle Villas Tori Franks,Resiliency/Housing Executive Summary: The Second Amendment to the term sheet between Eagle County Housing and Development Authority and Ulysses Development Group outlines several changes to the terms of the partnership and funding agreements between ECHDA and UDG in connection with the proposed resyndication of the Eagle Villas Project. ECHDA originally assisted in the Project in the acquisition by UDG of Eagle Villas in June of 2024 to preserve the 120 units'affordability. For the resyndication of the Project,ECHDS will continue to participate in the Project as a special limited partner to effectuate property,sales, and use tax exemptions;will issue Multifamily Housing Revenue Bonds to finance a private loan to Eagle Villas Owner; and will maintain two separate ECHDA loans to Eagle Villas Owner. The closing for the resyndication of the Project is scheduled for May 16, 2025, and will bring in construction debt,permanent debt and equity,which will preserve affordability and fund a substantial rehabilitation of the property. Commissioner Scherr moved to approve the Second Amendment to Term Sheet between Eagle County Housing and Development Authority and Ulysses Development Group for Eagle Villas. Commissioner Boyd seconded the motion. The vote was declared unanimous. 3. ECHDA Resolution 2025-02 Authorizing the Issuance, Sale and Delivery of the Eagle County Housing and Development Authority Multifamily Revenue Bonds (Eagle Villas Project)and the Loan of the Proceeds Thereof, For the Purpose of Financing or Reimbursing all or a Portion of the Costs of the Acquisition, Renovation, Rehabilitation, Construction,Equipping and Permanent Financing of a Multifamily Housing Facility known as Eagle Villas; Authorizing the Execution and Delivery by Authority of Such Bond and Other Necessary Agreements and Documents in Connection Therewith; and Related Matters Executive Summary: The Eagle County Housing and Development Authority is issuing Multifamily Housing Revenue Bonds,with a maximum principal amount not to exceed$35,000,000 that will fund the construction (rehabilitation)and permanent financing for the 120 unit Eagle Villas Apartments project,while preserving affordable rents. The bonds, and the obligation to pay interest thereon are special, limited obligations of the Authority,payable solely out of the revenues and income derived from the project and developer. The bonds and the interest thereon are not and shall never be a debt, obligation or liability of ECHDA. Commissioner Boyd moved to approve the Resolution Authorizing the Issuance, Sale and Delivery of the Eagle County Housing and Development Authority Multifamily Revenue Bonds(Eagle Villas Project)and the Loan of the Proceeds Thereof,For the Purpose of Financing or Reimbursing all or a Portion of the Costs of the Acquisition,Renovation,Rehabilitation, Construction, Equipping and Permanent Financing of a Multifamily Housing Facility known as Eagle Villas; Authorizing the Execution and Delivery by Authority of Such Bond and Other Necessary Agreements and Documents in Connection Therewith; and Related Matters. Commissioner Scherr seconded the motion. The vote was declared unanimous. 3 05/06/2025 4. Rural Development Form 3560-31 for USDA Identity of Interest Disclosure/Qualification Certificate Daniel Murray,Housing Executive Summary: Per USDA Rural Development Guidelines,the Golden Eagle Elderly Housing Corporation must submit an IOI declaration for each entity involved with the Golden Eagle Elderly Housing Corporation. Being that the Eagle County Housing and Development Authority is an affiliate of the property owner,we must declare the 1%commissions made from the overall operation of the property. We must complete this form every 3 years. The 2025-2027 form has no changes from the previously approved 2022-2024 document. Daniel Murray,Housing Manager stated that the form was required by the USDA every three years for Golden Eagle Apartments. Commissioner Scherr moved to approve the Rural Development Form 3560-31 for USDA Identity of Interest Disclosure/Qualification Certificate. Commissioner Boyd seconded the motion. The vote was declared unanimous. Commissioner Boyd moved to adjourn as the Eagle County Housing and Development Authority and reconvene as the Eagle County Board of County Commissioners. Commissioner Scherr seconded the motion. The vote was unanimous. Joint Meeting with the Pitkin County Board of Commissioners - Aspen 1. Joint meeting with the Pitkin County Board of Commissioners OE EAGLE CO(. 0 GS y There being no further busines i. d,the meeting was adjourned until May 13,2025. cot oaP°° / C Attest: ob4 nIauil Clerk to the Board Chairma 0 05/06/2025