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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 WHEREAS, the City of Louisville is the owner of a parcel of land of approximately 0.58 acres located at 520 South Boulder Road and legally described on Exhibit A, attached hereto and incorporated herein by reference (the "Property"); and WHEREAS, pursuant Ordinance No. 1343, Series 2000, the Property was acquired for a future site for the Louisville Housing Authority; and WHEREAS, pursuant to its home rule authority and state law, including but not limited to C.R.S. §29-4-106, the City may acquire real property for any housing project of the City or a housing authority, and may convey title and deliver possession of such property to such an authority; and WHEREAS, the City has entered into an agreement with the Louisville Housing Authority conceming the transfer of the Property to the Authority, the development of a housing project thereon, and certain related matters; and WHEREAS, the City Council by this ordinance desires to authorize the conveyance of the Property to the Louisville Housing Authority. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. The City Council hereby approves the conveyance from the City of Louisville to the Louisville Housing Authority of that certain real property described on Exhibit A attached hereto and incorporated herein by reference (the "Property"). Section 2. Such conveyance of the Property shall be subject to all terms and conditions of that certain Transfer and Development Agreement entered into between the City of Louisville and the Louisville Housing Authority, which Agreement was approved by Resolution No. 4, Series 2003. Section 3. The Property shall be conveyed by special warranty deed. The Mayor and City Clerk are authorized to execute such deed on behalf of the City. The Mayor, City Clerk, City Manager and City Staff are further authorized and directed to execute and deliver any and all documents necessary to effect the conveyance of the Property to the Authority under the terms and conditions of said Transfer and Development Agreement, and such additional documents as may be reasonably required by the title company with respect to such conveyance.