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HomeMy WebLinkAboutR13-074 69 Marble F228 Purchase of Commissioner / owed option of the following resolution: BOARD OF COMMISSIONERS EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY RESOLUTION NO. 2013-% RESOLUTION AUTHORIZING THE EXERCISE OF AND EXPENDITURE OF FUNDS ASSOCIATED WITH AN OPTION TO BUY AND GRANTING AUTHORITY TO LIST AND SELL MILLER RANCH UNIT 69 MARBLE F228, EDWARDS, EAGLE COUNTY, COLORADO UPON ACQUISITION OF THE SAME WHEREAS, Miller Ranch Unit 69 Marble F228, Edwards, Eagle County, Colorado (the "Unit") was acquired by lenders through foreclosure; and WHEREAS, the Unit was subject to a deed restriction to maintain the affordability of the Unit and the deed restriction contains an option to buy in the event of foreclosure; and WHEREAS, Eagle County Housing and Development Authority("ECHDA") desires to exercise the option to buy to preserve the deed restriction for the Unit; and WHEREAS, ECHDA provided a notice to the foreclosing lender indicating a desire to exercise the option: and WHEREAS,the lender has indicated the option price is no more than$192,000; and WHEREAS,the ECHDA desires to authorize the expenditure of no more than $192,000 to complete the acquisition of the Unit through the option process and to authorize any commissioner of the ECHDA to execute documents that may be required to complete the acquisition of the Unit; and WHEREAS,upon acquisition of the Unit, ECHDA desires to list the Unit for sale through The Valley Home Store; and WHEREAS,upon approval of the listing agreement and upon approval of a sale agreement for the Unit in an open meeting, the ECHDA desires to authorize any of its commissioners to execute any documents associated with the sale and closing of the Unit. NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS OF THE EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY: THAT, the expenditure of$192,000 is hereby authorized to complete the acquisition of the Unit through the option process. THAT, any commissioner of the ECHDA is hereby authorized to execute documents that may be required to further exercise the option to buy and to complete the acquisition of the Unit. THAT,upon acquisition of the Unit, ECHDA desires to list the Unit for sale through The Valley Home Store. THAT,the listing agreement for the Unit and any future purchase and sale agreement for the Unit will be considered or ratified in an open meeting. THAT,upon approval of a listing agreement and upon approval of a purchase and sale agreement for the Unit, the ECHDA desires to authorize any of its commissioners to execute any documents associated with the sale and closing of the Unit. THAT this Resolution is necessary for the health, safety and welfare of the people of Eagle County, Colorado. MOVED,READ AND ADOPTED by the Commissioners of the Eagle County Housing and Development Authority, at its regular meeting held this/flay of , 13. EAGLE COUNTY HOUSING AND toake DEVELOPMENT AUTHORITY �' AO- 4110* _�� :, By: jaza),... * F' Sara J. Fisher, hairm 41110P By: `I- .0- i • ; i11i., H. Rya Commissi% er By: V Q nI 0"015 Kathy dler-Henry, Commissioner Commissioner seconded adoption of the foregoing resolution. The roll having been called, th vote was as follows: Commissioner Fisher Commissioner Ryan Commissioner Chandler-Henry C:14f/ This Resolution passed by v vote of the Commissioners of the Eagle County Housing and Development Authority. 2