HomeMy WebLinkAboutECHDA 2025-05 Closing of the Aspen Basalt and Montain Valley Mobile Home Park Purchase Docusign Envelope ID:22114577-FEA0-434B-A538-4F747F9A44DE
Commissioner Boyd moved adoption
of the following Resolution:
EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY
RESOLUTION NO. 2025- 05
RESOLUTION AUTHORIZING ANY COMMISSIONER OF THE EAGLE COUNTY
HOUSING AND DEVELOPMENT AUTHORITY TO EXECUTE DOCUMENTS
NECESSARY TO ASSIST IN EFFECTUATING THE CLOSING OF THE ASPEN
BASALT AND MOUNTAIN VALLEY MOBILE HOME PARKS PURCHASE
WHEREAS, Eagle County Housing and Development Authority the ("ECHDA") is a
statutory housing authority established pursuant to C.R.S. § 29-4-501, et. seq; and
WHEREAS,the ECHDA has the power and authority set forth in C.R.S. §§ 29-4-505 and
29-4-201 et. seq; and
WHEREAS, the Eagle County Board of County Commissioners serves ex officio as the
board of the ECHDA; and
WHEREAS, the Aspen Basalt mobile home park is comprised of 75 units and the
Mountain Valley mobile home park is comprised of 64 units and the residents desire to purchase
their parks (the "Project"); and
WHEREAS, the ECHDA is a part of a coalition of governments, employers, and private
donors all assisting the residents with funding the Project to minimize displacement and rent
increases. On September 9, 2025, ECHDA approved an Amendment to its Conditional Funding
Commitment Letter whereby ECHDA agreed to contribute $2,650,000.00 to assist the residents
with the Project; and
WHEREAS, ECHDA's $2,650,000.00 contribution will be documented by a Loan
Agreement, Promissory Note, and Collateral Assignments between ECHDA and West Mountain
Regional Housing Coalition, which will then loan ECHDA's toward the Project; and
WHEREAS, as a condition of the loan from West Mountain Regional Housing Coalition
to the Project, ECHDA and coalition of the other governments have required both mobile home
parks to be subject to a Deed Restriction that limits occupancy of units in the parks to the local
workforce; and
WHEREAS, the Project is scheduled to close on October 14, 2025 and ECHDA desires to
authorize any Commissioner of the ECHDA Board to execute any and all documents that may
be required to assist with effectuating the closing of the Project, including, but not limited to,
execution of the Deed Restriction; and
Docusign Envelope ID:22114577-FEA0-434B-A538-4F747F9A44DE
WHEREAS,agreements and documents executed by a Commissioner of the ECHDA
shall be identified on the next available agenda for the ECHDA Board of Commissioners.
NOW,THEREFORE,BE IT RESOLVED BY THE COMMISSIONERS OF THE
EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY:
THAT the ECHDA Board hereby authorizes any Commissioner of the ECHDA Board to
execute on its behalf the Deed Restriction and all documents, instruments, and other forms that
may be necessary to assist in effectuating closing of the Project, subject to prior review by the
Eagle County Attorney's Office and subject to availability of budgeted and appropriated funds.
THAT,the Board of ECHDA Commissioners finds, determines and declares that this
Resolution is necessary for the public health, safety and welfare of the citizens of Eagle County,
State of Colorado.
[Remainder of page left intentionally blank]
2
Docusign Envelope ID:22114577-FEA0-434B-A538-4F747F9A44DE
MOVED,READ AND ADOPTED by the Eagle County Housing and Development
Authority, at its regular meeting held this 30th day of September, 2025.
c-- Signed by:
�""```�� EAGLE COUNTY HOUSING AND
DEVELOPMENT AUTHORITY
\ocoRFse
ATTEST:
DocuSigned by: DocuSigned by:
5-it% f2tIL MiethaiS 0‘.44"1* t-(-2"4-"I'S
EFc5+0277487a7+ By CA4AC128F8AA47A...
Kim Bell Williams Jeanne McQueeney, Chair
Secretary Signed by:
'raw. 6,4
CI1QQQSF4RFSFd4R
Tom Boyd, Commissioner
L
S by:
tl J
Air
81E7B2D718E0473.
Matt Scherr, Commissioner
Commissioner McQueeney seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner McQueeney Aye
Commissioner Boyd Aye
Commissioner Scherr Absent
This resolution passed by 2/0 vote of the Eagle County Housing and Development
Board
3