HomeMy WebLinkAboutbocc.res.101.1976~.~~"~38
Recorded a~ 10:55 A.M., September 3, 1976 Julie Hane, Recorder Keception Number:
PITKIN COUNTY BODK ~~~ PAGE ~~~
HOUSING AUTHORITY
Resolution # ~~~
RANDALL PROPERTY PURCHASE RESOLUTION
WHEREAS, the critical shortage of low and moderate income
housing in Pitkin County has warranted public action in the formation
of a Public Housing Authority, and
WHEREAS, the Housing Authority is chartered to engage in
public housing inventory, management, and development activities,
and
WHEREAS, it is the policy of the Housing Authority to
encourage the development of such housing by private industry using
the liberalized densities allowed in the PMH zone, and
WHEREAS, property owned by Donald T. Randall of Palm Beach,
Florida, consisting of the "Mascote" and "99" mining lodes on
Smuggler Mountain would provide a feasible PMH Project, and
WHEREAS, cost economics may be achieved by public purchase
of this property under threat of condemnation and installment payment
under a municipal mortgage,
NOW, THEREFORE BE IT RESOLVED THAT:
1. The Pitkin County Housing Authority resolves to and
authorizes the purchase of the "Mascote" and "99" lodes from Donald
T. Randall for a purchase price of $16Q,000 payable as provided in
a purchase agreement recorded in book 314 at page 699 of the Pitkin
County Public Records and with authorization by motion of the Pitkin
County Housing Authority at their June 14, 1976 regular meeting.
2. Said purchase and sale is in contemplation of the
condemnation action approved by the Pitkin County Board of County
Commissioners recited in said purchase agreement, and the condemnation
action approved by the Aspen City Council at their August 9, 1976
regular meeting to apply to that portion of the subject property lying
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within the incorporated domain of the City of Aspen.
3. The Pitkin County Housing Authority is hereby authorized
to make payment for and receive a general warranty deed to the subject
property and are authorized to enter into a promissory note in favor
of Donald T. Randall and encumber the subject property with a first
deed of trust in favor of Donald T. Randall as provided under the terms
of said purchase agreement, provided however that the terms of the
note and indenture shall clearly indemnify the County from recourse
under note default.
4. The Pitkin County Housing Authority Director is authorized
to proceed with general submission and rezoning of the subject property
as a PMH development which will allow the purchase of single and multi-
family sites by local families and builders who will construct primary
residential housing of a restricted nature.
PITKIN COUNTY HOUSING AUTHORITY
Date : C.
By:
e E. w s, r.
airman ~
ATTEST:
',By
. •S etary of the Pitkin
my Housing Authority
Micha 1 Kinsley