HomeMy WebLinkAboutresolution.council.073-26RESOLUTION #073
(Series of 2026)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
APPROVING THE TRANSFER OF FUNDS FOR THE PURPOSES OF ASSISTING APCHA
WITH PROPERTY ACQUISITIONS
WHEREAS, the Aspen Pitkin County Housing Authority ("APCHA") has been established as a
multi jurisdictional housing authority for the purposes of assisting the City and the County in
effecting the planning, financing, and acquisition of affordable housing; and,
WHEREAS, ACCHA is a standalone entity, uniquely separate from the City of Aspen and Pitkin
County: and
WHEREAS, the City of Aspen provides accounting services for APCHA; and
WHEREAS, APCHA has an opportunity to acquire two properties to add to its affordable
housing inventory; and,
WHEREAS, APCHA requires the financial assistance of the City to complete the proposed
property acquisitions; and,
WHEREAS, the City may provide for payment to the Authority of funds from proprietary
revenues and public funds as advances for any purpose subject to repayment by APCHA; and
WHEREAS, the City has financial resources available to assist APCHA with the purchase of
these properties; and
WHEREAS, Council finds that the use of City funds to assist APCHA with property acquisitions
is consistent with APCHAs purposes and serves the interests of the community.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ASPEN, COLORADO,
Section 1. Approval of Funding.
The City Council hereby approves the expenditure and transfer of funds in an amount not to
exceed $713,733 to APCHA for the purpose of assisting with the acquisition of property, subject
to repayment obligations.
Section 2. Use of Funds.
The funds transferred pursuant to this Resolution shall be used solely for costs associated with
the acquisition of the property and any related transaction costs approved by the City.
Section 3. Authorization of City Manager.
The City Manager is hereby authorized and directed to take any and all actions necessary or
appropriate to effectuate the intent of this Resolution, including but not limited to executing any
agreements, transfer documents, or certifications required to complete the transfer of funds and
facilitate the property acquisition.
Section 4. Budgetary Authorization.
The Finance Director is authorized to make such budgetary and accounting adjustments as may
be necessary to implement this Resolution.
RESOLVED, APPROVED, AND ADOPTED FINALLY by the City Council of the City
of Aspen on the 26th day of May 2026, A,
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 of the City of Aspen,
Colorado, at a meeting held the 26th day of May, 2026. 1
Nicole Henning, City Cler