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RESOLUTION NO. 34 <br /> SERIES 2010 <br /> A RESOLUTION APPROVING A FIRST AMENDMENT TO TRANSFER AND <br /> DEVELOPMENT AGREEMENT AND AN AMENDED AND RESTATED AGREEMENT, <br /> COVENANT AND RIGHT OF FIRST REFUSAL REGARDING 520 SOUTH BOULDER <br /> ROAD, LOUISVILLE, COLORADO <br /> WHEREAS, the City of Louisville "City and the Louisville Housing Authority <br /> "LHA entered into a Transfer and Development Agreement on April 18, 2003 concerning the <br /> transfer from the City to LHA of approximately 0.58 acres located at 520 South Boulder Road and <br /> legally described on Exhibit A accompanying this Resolution (the "Property"); and <br /> WHEREAS, the LHA is the owner of the Property; and <br /> WHEREAS, the City and LHA entered into an Agreement, Covenant and Right of First <br /> Refusal Regarding 520 South Boulder Road, Louisville, Colorado on April 18, 2003 concerning <br /> the Property, which was recorded with the Boulder County Clerk and Recorder on April 23, 2003 <br /> at Reception Number 2428016; and <br /> WHEREAS, the above listed agreements require that the Property be developed as an <br /> LHA -owned and operated affordable housing project; and <br /> WHEREAS, it has been proposed that the above listed agreements be amended to <br /> additionally allow for LHA to transfer the Property to Habitat for Humanity of Boulder Valley, <br /> Inc., doing business as Flatirons Habitat for Humanity "FHFH for FHFH to develop an <br /> affordable housing development consisting of dwelling units for sale to and resale by homeowners <br /> as affordable housing, with the number of permitted units for such development to be determined <br /> through the PUD development plan review process; and <br /> WHEREAS, for such purpose, there has been proposed a First Amendment to Transfer <br /> and Development Agreement between the City and LHA and an Amended and Restated <br /> Agreement, Covenant and Right of First Refusal Regarding 520 South Boulder Road, Louisville, <br /> Colorado among the City, LHA and FHFH; and <br /> WHEREAS, the City by this resolution desires to approve such amendments and <br /> authorize their execution; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF LOUISVILLE, COLORADO: <br /> 1. The proposed First Amendment to Transfer and Development Agreement between <br /> the City of Louisville and the Louisville Housing Authority is hereby approved in essentially the <br /> same form as the copy of such agreement accompanying this Resolution. <br /> 1 <br />