City Council Minutes 2012 08 21 - Laserfiche WebLink

Home Browse Search

City Council Meeting Minutes August 21, 2012 Page 10 of 23 Council member Yarnell asked if Acme Place (an unrestricted property) was sold would the full market value be used for affordable housing in Louisville. Ms. Abbott noted this matter is addressed in the IGA; any funds received from the sale would be restricted for Louisville affordable housing units. Council member Yarnell voiced her concern over the thirty-year period. Council member Loo asked whether the IGA could be fifty years. Deputy City Manager Balser explained this was a collaborated effort between the City, the LHA and BCHA. If Council decides they wish to alter the term, staff would bring it before the LHA and the BCHA. Frank Alexander stated the thirty-year term of the IGA puts a restriction on the properties. He felt thirty years is a strong term for affordable housing. Council member Loo asked if a fifty-year term would be more beneficial. Mr. Alexander explained none of Louisville properties have more than a thirty-year restriction. The thirty-year period will provide substantial time to rehabilitate and maintain the Louisville properties. Mayor Muckle stated it is in the best interest to provide affordable housing in the City of Louisville. He supported restrictions on affordable housing. He felt the agreement provides a benefit to the affordable units in the City. He noted "in perpetuity" does not mean the same units, but affordable housing in the City. Mayor Pro Tern Dalton inquired whether the City of Louisville owns the LHA assets or has any liability. City Attorney Light explained the City of Louisville created the Louisville Housing Authority, which is a separate entity, and responsible for their assets and liabilities. Mayor Pro Tem Dalton stated the City Council is being asked to approve an IGA, which has been negotiated by two separate entities, and the City neither owns nor is liable for any of the assets. He supported the IGA. Terri Abbott, LHA Chairperson, stated the Authority would like the City of Louisville's participation in the IGA to oversee and ensure all the negotiated covenants are enforced over the thirty-year commitment period. PUBLIC COMMENT Beverlee White, 550 Manorwood Lane, Louisville, CO asked if the motivation of the agreement is to get the additional units. City Attorney Light stated the agreement cites if the units were not delivered as promised, the City could seek injunction relief. City Attorney Light asked Ms. Marsella to identify her prior relationship with City and to identify she is speaking as a private citizen. Ms. Marsella disclosed she was a member of City Council for nine years and also Council liaison to the LHA for all nine years. Prior to her Council service, she was a member of the LHA for five years.