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HomeMy WebLinkAboutresolution.council.123-25RESOLUTION # 123 (Series of 2025) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT TO PARTICIPATE IN THE PURCHASE OF A DEED RESTRICTION ON THE ASPEN -BASALT MOBILE HOME PARK AND THE MOUNTAIN VALLEY MOBILE HOME PARK PROPERTIES BY PROVIDING FINANCIAL SUPPORT IN THE AMOUNT OF $3,2001000 ON BEHALF OF THE CITY OF ASPEN, COLORADO, WHEREAS, the City of Aspen has prioritized affordable housing for many decades; and WHEREAS, the City of Aspen values its regional partners and has actively participated in efforts outside of municipal boundaries that ultimately support the Aspen community and the greater Roaring Fork Valley; and WHEREAS, the Aspen -Basalt Mobile Home Park and the Mountain Valley Mobile Home Park are home to many people who work within the Aspen community; and WHEREAS, the residents of the Aspen -Basalt and Mountain Valley mobile home parks have formed and will govern two separate not -for -profit corporations to act as the purchasing entities for these properties, converting them into resident - owned communities and thereby creating greater housing security for its residents, and WHEREAS, to facilitate the purchase of these two mobile home park properties, multiple local private and public partners have pledged financial support to reduce the amount of borrowing required of residents to complete the sale; and WHEREAS, these partners have pledged individual financial grants contingent upon the inclusion of a deed restriction which will ensure permanent affordability, occupancy and use requirements for these two parks into the future; and WHEREAS, the Western Mountain Regional Housing Coalition has engaged and is serving as a central entity to assist with the administration of funding, oversee compliance and hold affordable housing deed restrictions for these two parks, and WHEREAS, the Aspen City Council previously authorized the Interim City Manager via adoption of Resolution# 086 (Series 2025) to sign a letter of support expressing a commitment to contribute funds for the purchase of mobile home parks that provide affordable housing for Aspen's workforce. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, That the City Council of the City of Aspen hereby authorizes the City Manager to enter into a grant agreement to support the purchase of a deed restriction on the Aspen Basalt Mobile Home Park and the Mountain Valley Mobile Home Park properties, in the amount of $3,200,000 on behalf of the City of Aspen. RESOLVED, APPROVED, AND ADOPTED FINALLY by the City Council of the City of Aspen on the 26th day of August, 2025. chael Richards, l�Iayor I, Nicole Henning, duly appointed and acting City Clerk do certify that the foregoing is a true and accurate copy of that resolution adopted by the City Council A the City of Aspen, Colorado, at a meeting held, August 26, 20250 Nicole Henning, City (�lerk THE CITY OF ASPEN GRANT AGREEMENT RECIPIENT: WEST MOUNTAIN REGIONAL HOUSING COALITION This Grant Agreement {"Agreement") is made as of the date last below signed between The City of Aspen, herein referred to as "Aspen" or "City", and the West Mountain Regional Housing Coalition, hereafter referred to as "Agency" or "Coalition". Whereas, the Coalition, a private non-profit agency, serves the Aspen community by increasing the availability and accessibility of affordable community housing in the Roaring Fork and middle Colorado River valleys, and, Whereas, the Aspen Basalt Mobile Home Park and Valley Mobile Home Park (collectively referred to as the "Parks") provide affordable housing to many individuals who work in the Aspen community; and Whereas, the residents of the Parks have each established anon -profit C-Corporation governed by the residents for purposes of purchasing, owning, and governing their respective Parks as Resident Owned Communities ("ROC"); and, Whereas, the Coalition, as part of their community services, desires to provide financial assistance to the C-Corporations for purposes of purchasing the Parks; and, Whereas, Aspen wishes to award a grant to assist the Coalition with its efforts to promote the C-Corporations purchase of the Parks as ROCS; and, Whereas, the purpose of this Agreement is to dictate the terms and conditions of Aspen's grant of $3.2 million to the Coalition for the sole purpose of assisting the C-Corporations purchase the Parks as ROCs which provide long-term affordable housing options for the Aspen community. NOW, THEREFORE, the parties agree as follows: l . Term and Renewal of Agreement: Absent any termination for cause under paragraph 5 of the Agreement, the term of this Agreement shall continue from August 13, 2025, until such time that both Parks have successfully been transferred to ownership by the CW corporations (closing is estimated as October 12, 2025). 2. Agenc,vObli atg ions: The Agency shall: a) Accept, hold, and disperse the funds solely for the purpose of funding the purchase of the Parks by the C-Corporations established by the residents of the Parks; b) Prior to closing, present to Aspen a form the deed restrictions that will be recorded and bind the C-Corporations and all subsequent owners of the Parks to use the Parks as long-term affordable housing for review and approval by the City Attorney and City Manager ; c) Strictly adhere to all applicable Federal, State and Local laws or regulations that have been or may hereafter be established; d) Prior to closing, provide a copy of the due diligence infrastructure reports for Aspen's review; e) Implement, to the extent possible, other provisions, regulations and safeguards that ensure future affordability for local workforce at both Parks; and f) Report, as requested by Aspen City Council, on the use of the funds and the status of compliance with the deed restrictions of both Parks. 3. Aspen's Obli ations: a) City of Aspen agrees to grant $3,200,000 to the Coalition on the condition that the Coalition and the City mutually agree to a form of deed restriction limiting the C- Corporations and all subsequent owners use of the Parks as long-term affordable housing to be recorded in the real estate records of the County Clerk and Recorder in which the Parks are situated. 4. General Provisions a. The Parties to this Agreement intend that the relationship between them contemplated by this Agreement is that of independent agency. The Agency will be solely and entirely responsible for its acts and the acts of its agents, employees, servants and subcontractors during the performance of this Agreement. b. Payment pursuant to this Agreement, if in County, State or Federal funds, whether in whole or in part, is subject to and contingent upon the continuing availability and appropriation of City funds for the purpose thereof. c. This Agreement constitutes the full and complete agreement of the parties and prior written and oral agreements of the parties. In supersedes or incorporates any addition, the Agency understands that no City official or employee, other than the Aspen City Council acting as a body at a Board meeting, has authority to enter into this Agreement or to modify the terms of this Agreement on behalf of Aspen. Any modification to this Agreement must be in writing and be executed by the parties hereto. 5. Default/Cancellation. If Agency shall default in the performance of Agency's Obligations pursuant to the terms of this Agreement, and/or fails to provide an accounting or use or make appropriation of monies granted in the manner in which such accounting was represented to Aspen, Agency shall have the right to cure said default after written notice by the City of the default to Agency. If Agency fails to cure such default within sixty (60) days after written notice is given from the City to Agency specifying the nature of such default (or if such default cannot be cured within the aforesaid period of time, if il to promptly commence to cure the same and to thereafter diligently the Agency shall fa proceed with such cure), City shall reserve the right to cancel this Agreement and make a demand for the return of all monies that City determines, at its sole discretion, were not appropriated in accordance with this Agreement. 6. In no event shall the Aspen be liable for any indirect, incidental, special, consequential, or punitive damages arising out of or related to this Agreement, whether in contract, tort (including negligence), strict liability, or any other legal or equitable theory. The Agency agrees to release, indemnify, defend and hold harmless Aspen and its directors, officers, funders, partners, employees and agents from and against any and all claims, actions, suits, demands, damages, losses, expenses and liabilities, arising out of or related in any way to the actions or omissions of the Aspen (or its directors, officers, employees, agents or contractors) in connection with this Agreement, the Grant, the Plan and the Project. 7. Government Immunity. The Parties agree and understand that Aspen is relying on and does not waive, by any provisions of this Agreement, the monetary limitations or terms or any other rights, immunities, and protections provided by the Colorado Governmental Immunity Act, C.R.S. 24-10-1 U 1, et seq., as from time to time amended or otherwise available to the City or any of their officers, agents, or employees. $. Entire A reg ement: This Agreement constitutes the full and complete Agreement of the parties hereto and shall not be modified except by a written agreement signed by the parties. 9. Agreement made in Colorado. This Agreement shall be construed according to the laws of the State of Colorado, and venue for any action shall be in the District Court in and for Pitkin County, Colorado. 1 p. Severability. Should any one or more sections or provisions of this Agreement be judicially adjudged invalid or unenforceable, such judgment shall not affect, impair, or invalidate the remaining provisions of this Agreement, the intention being that the various sections and provisions hereof are severable. 0 �N wIt'NL99 w14PAUyvl M? pfirtilea ll?lvie lifv? V0149?V MIR fISURVIllefli to P? ?AvVH t4 t§ of th@ lgt@§t d4t@ writto Wlgw. �lP" nag 4@@,Rtly@ ���e