Avon Housing Authority 02-01TOWN OF AVON HOUSING AUTHORITY
RESOLUTION NO. 02-01
SERIES OF 2002
RESOLUTIONS OF THE HOUSING AUTHORITY
OF THE TOWN OF AVON, COLORADO,
BUFFALO RIDGE APARTMENTS
RECITALS:
WHEREAS,
Corum Real Estate Group, Inc., a Colorado corporation (“Corum”), and Wintergreen Homes LLC, a Colorado limited liability company (“Wintergreen”), are jointly developing an approximately
176 multi-family residential low income housing project to be known as the Buffalo Ridge Apartments and to be developed and constructed on certain real property located in the Town of
Avon, Eagle County, Colorado, and consisting of a portion of the subdivision plat to be known as The Village (at Avon) Filing No. 2 (the “Project);
WHEREAS, the Project will be owned,
developed, constructed and operated by Buffalo Ridge II LLLP, a Colorado limited liability limited partnership (“Buffalo Ridge”);
WHEREAS, development and construction of the Project
will provide safe, decent and affordable housing for persons of low and moderate income residing in the Town of Avon, Colorado, and Eagle County, Colorado, and the Housing Authority
of the Town of Avon, Colorado (“Authority”) believes that it is in the best interests of the Authority and the Town of Avon, Colorado, that the Project be developed and constructed in
order to further such purposes;
WHEREAS, in order to exempt the Project from real property taxation pursuant to C.R.S. §§ 29-4-226 and 29-4-227, Corum and Wintergreen have requested
that the Authority agree to be admitted as a special limited partner in Buffalo Ridge; and
WHEREAS, the Authority believes that it is in the best interests of the Project, the Town
of Avon, Colorado, and the Authority that the Authority act and serve as a special limited partner in Buffalo Ridge as doing so will further the purposes of the Authority in providing
safe, decent and affordable housing to the residents of the Town of Avon, Colorado, and Eagle County, Colorado.
NOW, THEREFORE, BE IT RESOLVED, that the Authority hereby ratifies,
confirms and approves the acquisition, development, construction, financing, operation and management of the Project and, in connection therewith, agrees to be admitted to,
and serve as a special limited partner of, Buffalo Ridge in order to exempt the Project from real property taxation pursuant to and in accordance with the provisions of C.R.S. §§ 29-4-226
and 29-4-227;
BE IT FURTHER RESOLVED, that the Chairman or appropriate designee of the Authority, is hereby authorized and empowered to execute and deliver any and all documents and
instruments on behalf of the Authority to cause its admission to Buffalo Ridge as a special limited partner thereof at such times and on such terms and conditions as such officer may
deem acceptable in his or her sole discretion, such acceptance to be evidenced by such officer’s execution and delivery of such documents and instruments;
BE IT FURTHER RESOLVED, that
the foregoing officers are hereby authorized and empowered to execute and deliver any other documents or instruments on behalf of the Authority that such officers may deem necessary
or desirable in connection with the ownership, acquisition, development, construction, financing, operation and/or management of the Project or any portion thereof, on such terms and
conditions as such officers deem acceptable, such acceptance to be evidenced by such officers’ execution and delivery of any such documents or instruments; and
BE IT FURTHER RESOLVED,
that the Authority hereby ratifies, confirms and approves all actions previously taken by Buffalo Ridge, Corum and/or Wintergreen in connection with the formation of Buffalo Ridge and
the acquisition, ownership, construction, development, financing, operation and management of the Project.
The foregoing Resolutions were duly adopted at a meeting of the Authority
duly called and legally held on the ____ day of January, 2002, pursuant to applicable law.
HOUSING AUTHORITY OF THE TOWN OF AVON, COLORADO
By: _______________________________________
Chairman
EXHIBIT A
Legal Description
[see attached]