HomeMy WebLinkAboutR15-083 Fox Hollow Housing Credits Extension Commissioner moved adoption
of the foil wing Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2015 - �j_
ADJUSTMENT AND EXTENSION OF FOX HOLLOW HOUSING CREDITS UNTIL
SEPTEMBER 22,2020
WHEREAS, on or about October 25, 2005 the Board of County Commissioners of the County
of Eagle, State of Colorado ("BoCC") approved the Fox Hollow PUD Preliminary Plan which
includes the Fox Hollow Hosing Plan via Resolution No. 2005-125; and
WHEREAS, the Fox Hollow Housing Plan provided 79 housing credits in exchange for the sale
of land to Habitat for Humanity("Habitat") on which Habitat was to build 16 housing units for
very low income families; and
WHEREAS, these credits had a five year validation period; and
WHEREAS, on June 22, 2010 the BoCC extended the validation period of the remaining 53
housing credits until August 11, 2015 via Resolution No. 2010-071; and
WHEREAS, the Fox Hollow developer has requested an extension of the remaining 52 housing
credits prior to the date the credits were to expire; and
WHEREAS, staff has calculated,using the 2004 Eagle County Local Resident Housing
Guidelines,that the Fox Hollow developer was eligible to receive 32.86 housing credits, as
opposed to 79 credits; and
WHEREAS, 32.86 credits is a 41.59%reduction from the original 79 credits and this reduction
is applied proportionality to the remaining 52 credits resulting in 21.62 credits remaining; and
WHEREAS, to bring the housing credits into conformance with the 2014 Eagle County
Affordable Housing Guidelines,the housing credits should be converted into square footage by
multiplying the 21.62 credits by 1,126 square feet(the average size of a deed restricted home in
Eagle County) resulting in 24,344 square feet of housing credits; and
WHEREAS, for good cause shown,the BoCC hereby wishes to extend the validation period of
the 24,344 square feet of housing credits so the credits can be sold until September 22, 2020.
NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the request for an extension of the Fox Hollow housing credits was submitted to Eagle
County prior to the date the housing credits were to expire; and
THAT, the validation period of the 24,344 square feet of housing credits associated with the Fox
Hollow development is hereby extended until September 22, 2020; and
THAT, this Resolution is necessary for the public health, safety and welfare of County of Eagle,
State of Colorado.
MOVED,READ AND ADOPTED by the Board of Count C mmissioners of the County of
Eagle, State of Colorado, at its regular meeting held the ? day of September 2015.
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' , ''' COUNTY OF EAGLE, STATE OF
* * COLORADO By and Through Its
-pp BOARD OF OUN Y COMM S ION / S
ATE - Li By: • 'JI. /A �// -I( I /
Teak J. Simont Kathy C`l:ndler-Henry
Clerk to the Board of Chair
County Commissioners / rip
s_1 J �.
e McQueen'
jer /
--Orn 'yan
/'ommissioner
Commissioner MC econded adoption of the foregoing resolution. The roll
having been called, the vote was as lows:
Commissioner Chandler-Henry ,
Commissioner McQueeney ��Y�
Commissioner Ryan F,
/
This resolution passed by L7/0 vote of the Board of County Commissioners of
the County of Eagle, State of Colorado
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