HomeMy WebLinkAboutresolution.council.038-91 RESOLUTION NO.
(Series of 1991)
A RESOLUTION OF THE CITY COUNCIL OF ~ CITY OF ASPEN, COLORADO,
ENDORSING AN AGREEMENT NEGOTIATED BY THE ASPEN/PITKIN COUNTY
HOUSING AUTHORITY WITH FANNIE MAE FOR THE FINANCING OF DEED
RESTRICTED EMPLOYEE HOUSING AND AUTHORIZING THE ASPEN/PITEIN
COUNTY HOUSING AUTHORITY TO INCORPORATE CERTAIN DEED PROVISIONS
IN DEEDS ASSOCIATED WITH THE SALE OF DEED RESTRICTED EMPLOYEE
HOUSING WITHIN THE CITY OF ASPEN.
WHEP~EAS, the Aspen/Pitkin County Housing Authority ("Author-
ity'') has bssn designated by the City of Aspen as the City's
agent for the administration and supervision of deed restricted
employee housing within the City; and
WHEP~EAS, in order to facilitate and promote the afford-
ability and accessibility of deed restricted housing for quali-
fied employees, the Authority has negotiated terms and conditions
with Fannie Mae that will permit Fannie Mae to participate in the
financing of deed restricted housing; and
WHEPdEAS, the Authority has requested that the City Council
approve and endorse its agreement with Fannie Mae, which includes
the utilization of certain provisions in deeds applicable to deed
restricted employee housing~ and
WHEREAS, the City Council finds and deems the Authority's
agreement with Fannie Mae to be in the public interest and
welfare.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO, that the City Council does hereby
approve and endorse the Fannie Mae financing agreement negotiated
by the Authority and authorizes the Authority to incorporate
restrictions in the deeds applicable to the sale of deed re-
stricted employee housing units within the City of Aspen so as to
provide an option to purchase such units by the Authority or the
City in the event of foreclosure on mortgages guaranteed by
Fannie Mae.
R~SOLVED, APPROVED AND ADOPTED this /~-day of
/~~ , 1991, by the City Council for the City of
Aspen, Colorado.
John ~. Bennett, Mayor
I, Kathryn S. Koch, 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 ~~ /~- , 1991.
Kathryn S./koch, city Clerk