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HomeMy WebLinkAboutR07-013 Seniors on Broadway Property Letter of Intent Commissioner ~l...4 \{CJ<-6toved adoption of the following resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2007-~ RESOLUTION AUTHORIZING THE CHAIRMAN OF THE BOARD OF COUNTY COMMISSIONERS TO EXECUTE THE LETTER OF INTENT AND ALL TRANSFER DOCUMENTS NECESSARY TO CONVEY PROPERTY TO SENIORS ON BROADWAY WHEREAS, the Colorado Housing and Finance Authority ("CHF A") administers a program for tax credit financing under Section 42 of the IRS Code pursuant to which eligible entities can apply for financing for eligible construction projects ("Program"); WHEREAS, Seniors on Broadway, a corporation to be formed by Eagle County, has made application to such Program for the construction of senior housing in Eagle, Colorado on property described as Lot 1, Golden Eagle Elderly Housing, a Resubdivision of Lot 1, Block 1, The Bull Pasture, according to the recorded plat thereof, recorded July 18, 1985, in Book 420 at Page 259 as Reception No. 316528 ("Property"); and WHEREAS, pursuant to the 2007 Qualified Application Plan, the sponsor must demonstrate that it has site control at the time of application for the application to be eligible; and WHEREAS, Eagle County is desirous of providing all necessary site control and other rights on the property to the Seniors on Broadway for the purposes of establishing eligibility for CHFA fmancing of this project. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, in consideration of$10.00 and other good and valuable consideration, the Board of County Commissioners for Eagle County shall transfer the Property in fee simple to the Seniors on Broadway upon its formation for the purpose of constructing senior housing on the same. Such transfer shall include all rights, title, and interest in the Property together with all improvements, ways, easements, rights, privileges, and appurtenances held or owned by Eagle County in the above-described Property. THAT, prior to said transfer, Seniors on Broadway shall be given the right of entry and access to perform all necessary testing, appraisals, reviews, or other investigations on the Property for purposes of satisfying 2007 Qualified Application Plan requirements. THAT, the Board of County Commissioners hereby authorizes its Chairman to execute on its behalf any and all necessary documents, instruments, papers or other forms necessary to execute the transfer of the Property and to consummate the will of the Board of County Commissioners as set forth herein. THAT, the Board of County Commissioners finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the citizens of the County of Eagle, State of Colorado. Dated this (1--'" day of February 2007. COUNTY OF EAGLE, STATE OF COLORADO By and Through its Board of County Commissioners BY:~- Am M. Menconi, Chairman