HomeMy WebLinkAboutR22-012 Lake Creek Village Apartments Sale DocuSign Envelope ID:55CDC3B8-2EE4-4AFB-9223-1 ABA141 E7C44
Commissioner Chandler-Henry moved adoption
of the following resolution:
EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2022- 012
RESOLUTION AUTHORIZING THE TRANSFER OF ALL ASSETS FROM LAKE
CREEK VILLAGE LLC TO EAGLE COUNTY HOUSING AND DEVELOPMENT
AUTHORITY AFTER THE SALE OF LAKE CREEK VILLAGE APARTMENTS
WHEREAS, Eagle County Housing and Development Authority ("ECHDA") is a
statutory housing authority established pursuant to C.R.S. 29-4-501 et. seq.; and
WHEREAS, ECHDA has all of the powers identified in C.R.S. 29-4-505 and those
granted to a city housing authority in C.R.S. 29-4-201 et. seq.; and
WHEREAS,the Eagle County Board of County Commissioners serves ex officio as
the board of ECHDA (the "Board"); and
WHEREAS, ECHDA is the sole member of Lake Creek Village LLC, the owner of the
270-unit Lake Creek Village Apartments located at 4923 Lake Creek Village Drive in Edwards,
CO 81632 (the "Property"); and
WHEREAS,ECHDA Resolution 2021-102 gave Lake Creek Village LLC the authority
to pursue a sale of the Property; and
WHEREAS,the sale of the Property is expected to generate approximately $50 million
in proceeds, which will be used by ECHDA to support the ownership and development of
additional housing units and other programs to support the Eagle County workforce and increase
the availability of housing units affordable to the workforce and other individuals and families
of low income in Eagle County, Colorado.
NOW,THEREFORE,BE IT RESOLVED BY THE EAGLE COUNTY HOUSING
AND DEVELOPMENT AUTHORITY:
THAT, Lake Creek Village LLC will distribute all net assets remaining after the sale of
Lake Creek Village Apartments to its sole member, the Eagle County Housing and Development
Authority; and
THAT, ECHDA will control the assets and will have the authority to utilize the funds
following all process related to the expenditure of funding through the Eagle County
DocuSign Envelope ID:55CDC3B8-2EE4-4AFB-9223-1 ABA141 E7C44
Government budget process.
MOVED AND ADOPTED by the Eagle County Housing and Development Authority, at
its meeting held this 1st day of Feb. , 2022.
Eagle County Housing and Development
Authority
DocuSigned by:
By: l CA4AC128F8AA47A..
Jeanne McQueeney, Chair
DocuSigned by:
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Kathy Chandler-Henry, Commissioner
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By: 81EZB2D718E0473 Matt Scherr, Commissioner
Commissioner Scherr seconded adoption of the foregoing resolution. The roll
having been called,the vote was as follows:
Commissioner McQueeney Aye
Commissioner Chandler-Henry Aye
Commissioner Scherr$. Aye
This Resolution passed by 3/0 vote of the Commissioners of the Eagle County
Board of County Commissioners.
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