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HomeMy WebLinkAbout2020-07 VLHA Resolution Deed Restriction 4506 Spruce Way Unit 16RESOLUTION NO. 7 Series of 2020 RESOLUTION APPROVING THE PURCHASE OF A DEED RESTRICTION INTEREST IN PROPERTY (TYPE III DEED RESTRICTION) IN THE TOWN OF VAIL LEGALLY DESCRIBED AS LOT 16, RIDGEVIEW SQUARE, EAGLE COUNTY, COLORADO WITH A PHYSICAL ADDRESS OF 4506 SPRUCE WAY, UNIT 16, VAIL COLORADO; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Vail Local Housing Authority (the "Authority"), in the Town of Vail, County of Eagle and State of Colorado is duly organized and existing under the laws of the State of Colorado; and WHEREAS, the members of the Authority have been duly appointed and qualified; and WHEREAS, the Authority considers it in the interest of the public health, safety and welfare to purchase a Type III Deed Restriction (the "Deed Restriction") on the property legally described as Ridgeview Square, Lot 16, Town of Vail, Eagle County, Colorado with a physical address of 4506 Spruce Way, Unit 16, Vail Colorado (the "Property"); and NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO THAT: 1. The purchase of the Deed Restriction on the Property is hereby approved by the Authority at the maximum purchase price of $100,000. 2. The Chairman of the Vail Local Housing Authority is hereby authorized to execute, on behalf of the Town, an agreement to purchase the Deed Restriction and to take whatever steps are necessary to complete the purchase of the Deed Restriction on the Property. 3. This resolution shall take effect immediately upon its passage. INTRODUCED, PASSED AND ADOPTED at a regular meeting of the Vail Local Housing Authority of the Town of Vail held this 25th day of February, 2020. ATTEST: vt Vt Lynne Campbell, \\\011 1 1 1 1$twe Lindstrom, \ s\N G f an of the Vail Local Housing Authority tio; Secretary of the Vail Local Housing'Agfhe„.,` Resolution No. 7, Series of 2020