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HomeMy WebLinkAboutR14-101 Authorizing Eagle County Housing and Development Authority to Act as Special Limited Partner Commissioner e/l-1'I i01 - moved adoption of the following Resolution: EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY EAGLE COUNTY, STATE OF COLORADO RESOLUTION NO 2014- 1 0 1 RESOLUTION AUTHORIZING EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY TO ACT AS A SPECIAL LIMITED PARTNER WITH TABOR GRAND LLLP AND AUTHORIZING ANY OF ITS COMMISSIONERS TO EXECUTE ALL DOCUMENTS NECESSARY TO EFFECTUATE AND DOCUMENT ITS ROLE AS A SPECIAL LIMITED PARTNER WHEREAS,Tabor Grand LLLP (the "Owner") is the owner of the Tabor Grand Hotel Apartments located in Leadville, Colorado (the "Project") and has received a low income housing tax credit allocation which was used to fund a portion of the approximately $9,282,000 acquisition and substantial renovation of the Project; and WHEREAS, the Owner has requested that the Eagle County Housing and Development Authority ("ECHDA")join the Owner as a special limited partner to effectuate a real property tax exemption for the Project; and WHEREAS,both the Lake County Board of Commissioners and the city of Leadville are supportive of the Project and ECHDA's involvement as there is no housing authority located in Lake County or the city of Leadville; and WHEREAS, there is no cost to ECHDA for participating as a special limited partner. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY: THAT,ECHDA hereby authorizes ECHDA to act as a special limited partner with Tabor Grand LLLP to effectuate a real property tax exemption for the Project; and THAT,ECHDA hereby authorizes any of its Commissioners to execute on its behalf any and all necessary documents, instruments, papers or other forms necessary to document the role of ECHDA as special limited partner subject to review and approval by the Eagle County Attorney's Office. Such documents may include, but shall not be limited to, an amendment to the Agreement of Limited Liability Limited Partnership Agreement of Tabor Grand LLLP, as well as any other necessary documents which in the opinion of staff are required or desirable. THAT,the ECHDA 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. MO ED, READ AND ADOPTED by the Board of Commissioners of the Eagle County Housing at id Development Authority, at its meeting held this P day of OLO--., 2014. EAGLE COUNTY HOUSING AND DEVELOPMENT tAG , , ORITY ATTE . „/ I.� C /\/1111F 001.0090 0t4RP By: i% L 11.,j Clerk to t Board of Ji an H. Ryan County Commissioners Chairman -�' , PQf j 1 Sara J. Fisher Co • issione A �I/4.�� i ,I I Kathy C e ler-Henry Commissioner Commissioner .-1. 1 I seconded adoption of the foregoing resolution. The roll having bedn called, the vote was as follows: Commissioner Ryan l- k Commissioner Fisher - Commissioner Chandler-Henry a. ti 2 / This resolution passed by / vote of the Board of Eagle County Housing and Developm nt Authority, State of Colorado