City Council Minutes 2003 04 01 - Laserfiche WebLink

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Louisville City Council Meeting April 1, 2003 Page 4 of 22 ORDINANCE NO. 1414, SERIES 2003 - AN ORDINANCE AUTHORIZING THE CONVEYANCE OF A 0.58-ACRE PARCEL OF CITY-OWNED LAND TO THE LOUISVILLE HOUSING AUTHORITY FOR DEVELOPMENT OF A HOUSING PROJECT - 2na reading - public hearing (advertised Daily Camera 3/8/03) Sisk called for City Attorney introduction. City Attorney Light read Ordinance No. 1414, Series 2003. Sisk called for Staff presentation on Ordinance No. 1414, Series 2003 and Resolution No. 4, Series 2003. Assistant City Manager for Governmental Relations Heather Balser reported in September 2000, the City acquired a parcel of land of approximately .58 acres located at 520 South Boulder Road for a future site for the Louisville Housing Authority. The Louisville Housing Authority has requested transfer of ownership of the site from the City of Louisville to the Housing Authority. The primary reason for the request is site control. Most of the funding sources at the local, state and federal level require documentation of lease or ownership prior to any application for grants or loans. The ordinance approves the conveyance of the property from the City of Louisville to the Louisville Housing Authority. The property shall be conveyed by special warranty deed. Balser addressed Resolution No. 4, Series 2003, which approves an agreement regarding the transfer of the property located at 520 South Boulder Road to the Louisville Housing Authority. She reviewed some of the highlights of the agreement: Section 1 · The Authority agrees that the property is being transferred for development of an Authority owned and operated affordable housing project to consist of not more than four dwellings units. · At the time of closing a covenant executed by the City and the Authority shall be placed on the property restricting its use to affordable housing and consisting of not more than four dwelling units. Section 6 · The authority may do its own due diligence regarding the property and if it finds an unacceptable condition or effect it may make, at its expense, efforts to correct such defects prior to closing. · If there remain any defects prior to closing, the Authority may either complete the transaction notwithstanding the uncorrected defects or declare the agreement terminated. Section 12 · The Authority acknowledges and agrees that the development of the Property shall be subject to City review and approval pursuant to a PUD review process. Michael Reis, Boulder County Housing Authority, thanked Council for their support and stated the Authority looks forward to two new units constructed within the next year.