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HomeMy WebLinkAbout2018-02 IGA with Eagle County Housing and Development Authority Regarding Housing ServicesRESOLUTION NO. 2 Series 2018 A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF VAIL AND THE EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY REGARDING CERTAIN HOUSING SERVICES TO BE PROVIDED TO THE TOWN OF VAIL; AND SETTING FORTH DETAILS IN REGARD THERETO WHEREAS, the Town of Vail (the "Town"), in the County of Eagle and State of Colorado is a home rule municipal corporation duly organized and existing under the laws of the State of Colorado and the Town Charter (the "Charter"); WHEREAS, the members of the Town Council of the Town (the "Council") have been duly elected and qualified; WHEREAS, the Eagle County Housing and Development Authority (the "ECHDA") was formed to address the lack of affordable housing with participation from the public and private sectors throughout Eagle County; WHEREAS, the Town and ECHDA entered in an agreement dated May 31, 2016 outlining the services the ECHDA would perform and the compensation for such services; WHEREAS, the purpose of the Intergovernmental Agreement (the "IGA") is to modify 2018 services to be provided, prescribe a not to exceed amount for compensation and to extend the term of the agreement for an additional year; and WHEREAS, the Council considers it in the interest of the public health, safety and welfare to enter into this IGA. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: 1. The Council hereby approves the IGA and directs the Town Manager to enter into the IGA on behalf of the Town in substantially the same form as attached hereto as Dshibit A and in a form approved by the Town Attorney. 2. This Resolution shall be effective immediately upon adoption. INTRODUCED, READ, APPROVED AND ADOPT = "d d -y rf - u '018. .-ve Chapi , Town 81 ATTEST: EXHIBIT A SECOND AMENDMENT TO AGREEMENT BETWEEN EAGLE COUNTY HOUSING AND DEVELOPMENT AUTHORITY AND THE TOWN OF VAIL THIS SECOND AMENDMENT ("Second Amendment") is effective as of the 5th day of January , 2018 by and between the Town of Vail, a municipal corporation (hereinafter "Town") and Eagle County Housing and Development Authority, a body corporate and politic (hereinafter "ECHDA"). RECITALS WHEREAS, ECHDA and Town entered into an agreement dated the 31st day of May, 2016, for certain Services (the "Original Agreement"); and WHEREAS, the Original Agreement contemplated that ECHDA would perform certain Services for Town with compensation in an amount equal to $9,100 plus 2% of the deed restricted sales that ECHDA completes; and WHEREAS, the ECHDA and Town desire to modify 2018 Services for compensation as set forth below; and WHEREAS, the term of the Original Agreement expires on the 31s1 day of December, 2017, and the parties desire to extend the term for an additional year. SECOND AMENDMENT NOW THEREFORE, in consideration of the foregoing and the mutual rights and obligations as set forth below, the parties agree as follows: 1. The Original Agreement shall be amended to include 2018 Services as described in Exhibit 1, which is attached hereto and incorporated herein by reference. 2. The compensation for the 2018 Services set forth in Exhibit 1 shall not exceed $9,100 plus 2% of the deed restricted sales that ECHDA completes. 3. The term of the Original Agreement is hereby extended to the 31st day of December, 2018. 4. Capitalized terms in this Second Amendment will have the same meaning as in the Original Agreement. To the extent that the terms and provisions of the Second Amendment conflict with, modify or supplement portions of the Original Agreement, the terms and provisions contained in this Second Amendment shall govern and control the rights and obligations of the parties. 5. Except as expressly altered, modified and changed in this Second Amendment, all terms and provisions of the Original Agreement shall remain in full force and effect, and are hereby ratified and confirmed in all respects as of the date hereof. 6. This Second Amendment shall be binding on the parties hereto, their heirs, executors, successors, and assigns. IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment to the Original Agreement the day and year first above written. EAGLE COUNTY I -LOUSING AND DEVELOPMENT AUTHORITY By: Attest: Jill Ryan, Chair By: Teak J. Simonton, Clerk TOWN OF VAIL By: Mayor Attest: By: Town Clerk EXHIBIT 1 2018 SCOPE OF SERVICES AND FEES The following services will be provided to the Town of Vail (Town) by ECHDA/TVHS: I. Resales of the Town's deed restricted housing stock. a. Includes all aspects of sales, from listing through closing of the unit ensuring compliance with all aspects of the deed restrictions. b. ECHDA/TVHS staff will hold 2 open houses for each listing and/or provide individual unit showings as appropriate. c. ECHDA/TVHS will cause units offered for sale to be advertised in accordance with the Guidelines. d. ECHDA/TVHS will assist sellers, buyers, lenders, and appraisers through the process. e. ECHDA/TVHS will comply with policies and procedures outlined in the Guidelines, as may be updated from time to time. f. ECHDA/TVHS will receive sales fees of 2% of the deed restricted sales that it completes as compensation for this service. 2. Lottery Process a. Work with Town to advertise lottery opening and closing dates. b. Collect, score and verify lottery applications. c. ECHDA/TVHS understands that this process may change and will work with Town to complete future lotteries or equivalent in accordance with policy set by the Town. d. Out of pocket costs (advertising) will be paid by Town. e. Compensation for this service based on the current process will be paid by the Town to ECHDA/TVHS on an hourly basis not to exceed $3,250 per calendar year. This fee is based on 50 hours of work at $65/hour. If this process changes, the compensation may be adjusted accordingly with a written agreement approved by both Town and ECHDA/TVHS. 3. ECHDA/TVHS will serve as a resource to Town and consumers regarding the Town's affordable housing program. a. Communicate Town's information on TVHS website, including Vail InDEED deed restriction purchase program. b. Provide up to three in person first time homebuyer education course. c. Provide individual credit counseling or personal budgeting sessions to buyers or owners of Town units or down payment assistance programs. d. Attend work sessions with Vail Local Housing Authority or Town Council as requested and recommend best practices to promote regional collaboration e. Advise and assist as needed with the Employee Housing Unit Compliance. f. Provide best practices and recommendations for Housing Guidelines revision, if needed. g. Compensation for this service will be $5,850 and will be paid by the Town to ECHDA/TVHS. This fee is based on 90 hours of work at $65/hour.