HomeMy WebLinkAboutR15-081 Fox Hollow Tract A Commissioner +L -1 - moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2015 - Co)C
FORGIVENESS OF THE REMAINDER OF CONDITIONAL GRANT AWARD FOR
PURCHASE OF TRACT A OF THE FINAL PLAT OF FOX HOLLOW
WHEREAS, on May 15, 2007, the Board of Commissioners of the County of Eagle, State of
Colorado ("BoCC") granted Habitat for Humanity of Eagle and Lake Counties Inc., a Colorado
nonprofit corporation("Habitat") $500,000 for the purchase of Tract A of the Final Plat of Fox
Hollow PUD; and
WHEREAS, the Conditional Grant Award for Purchase of Tract A of the Final Plat of Fox
Hollow "Conditional Grant Award"is attached hereto as Exhibit A and incorporated herein; and
WHEREAS, on February 22, 2011 through Resolution 2011-13 (attached hereto as Exhibit B
and incorporated herein), Eagle County transferred and assigned the receipt of any payment from
Habitat pursuant to the Conditional Grant Award to the Eagle County Housing and Development
Authority to be used for the development of housing or any other authorized purpose; and
WHEREAS, Habitat purchased Tract A from Fox Hollow LLC for the sole purpose of
developing 8 duplex lots for a total of 16 for-sale, affordable duplex-type housing units; these
units were sold to families earning an average of 41%AMI between February 2009 to September
2012, with an average sales price of$178,000; and
WHEREAS, as a part of the land purchase agreement between Fox Hollow LLC and Habitat,
Fox Hollow LLC is obligated to pay Habitat a portion of the receipts from the sale of its housing
credits; and
WHEREAS, the Conditional Grant Award between Eagle County and Habitat requires Habitat
to forward any of its proceeds from the sales of the Fox Hollow housing credits to Eagle County;
and
WHEREAS, Eagle County has received $300,000 from Habitat towards the repayment of the
Conditional Grant Award; and
WHEREAS, the Conditional Grant Award allows Eagle County the ability to waive any of the
conditions set forth in the Conditional Grant Award; and
WHEREAS, Habitat plays a vital role in serving Eagle County's low income residents by
providing homeownership opportunities, financial counseling and homeownership education;
and
WHEREAS, for good cause shown, the BoCC wishes to forgive the remaining$200,000 due
from Habitat to Eagle County according the Conditional Grant Award.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the remaining$200,000 Habitat owes Eagle County according to the Conditional Grant
Award is hereby forgiven.
THAT, this Resolution is necessary for the public health, safety and welfare of the County of
Eagle, State of Colorado.
MOVED,READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the 2..Z'^± day of
\--- 2015.
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COUNTY OF EAGLE, STATE OF
of_e COLORADO, By and Through Its
{ i < BOARD • , CO ►I/TY COM► ISSI S, ERS
ATTEST: L *
e .Teak J. Simonton Kathy ( . dler-Henry
Clerk to the Board of Chair
County Commissioners
v'
Jnne McQueene
'rs'I -r
_�
Ji■� H. Ryan
'ommissioner
Commissioner W C. it-k4„, seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Chandler-Henry 4'1'+ w
Commissioner McQueeney
Commissioner Ryan k w
This resolution passed by 5/0 vote of the Board of County Commissioners of
the County of Eagle, State of Colorado
