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RESOLUTION NO. 55 SERIES 2012 A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT AMONG THE CITY OF LOUISVILLE, THE LOUISVILLE HOUSING AUTHORITY, THE BOULDER COUNTY HOUSING AUTHORITY, AND THE COUNTY OF BOULDER CONCERNING AFFORDABLE HOUSING WITHIN THE CITY OF LOUISVILLE; GRANTING THE BOULDER COUNTY HOUSING AUTHORITY THE AUTHORITY TO OPERATE WITHIN THE CITY OF LOUISVILLE, AND INCLUDING THE CITY OF LOUISVILE TO THAT AREA UNDER JURISDICTION OF THE BOULDER COUNTY HOUSING AUTHORITY WHEREAS, the Louisville Housing Authority ( "LHA "), the Boulder County Housing Authority ("BCHA"), the City of Louisville (the "City "), and Boulder County (the "County ") are pursuing an intergovernmental agreement (the "IGA ") wherein LHA's assets and outstanding debts will be transferred to BCHA; and WHEREAS, Federal funding and State funding for affordable housing programs has seen drastic cuts in recent years; and WHEREAS, BCHA owns and operates affordable housing units in Louisville and also has contracted with LHA to manage LHA's portfolio for more than 25 years; and WHEREAS, the inefficiency of having two independent housing authorities operating in Louisville has been a topic of discussion for many years; and WHEREAS, the current portfolio size and configuration does not lend itself to efficient operations or expansion of affordable housing opportunities in Louisville; and WHEREAS, the parties to the proposed IGA agree that the inefficiencies caused by the relatively small size of LHA's portfolio and budget will be best remedied through the acquisition by BCHA of all of LHA's assets for integration into BCHA's affordable housing portfolio, and that the consolidation will achieve a larger economy of scale, thereby strengthening the long- term viability of affordable housing within Louisville and the region; and WHEREAS, BCHA, LHA, the City, and the County share a commitment to provide quality affordable housing in Louisville; and WHEREAS, the City Council of the City of Louisville recognizes that sound and adequate shelter is a basic housing need, that each resident of the City is entitled to adequate housing at an equitable cost, that the provision of such housing at an equitable cost is a public, as well as private, responsibility, and that there is a need within Louisville for a public agency to provide such housing; and Resolution No. 55, Series 2012 Page 1 of 3