HomeMy WebLinkAbout2021-061-05/18/2021-EXPRESSING COUNCIL'S INTENT TO PROVIDE FUNDING TO ASSIST THE RESIDENT PURCHASE OF HICKORY VILLAGE MO RESOLUTION 2021-061
OF THE COUNCIL OF THE CITY OF FORT COLLINS
EXPRESSING COUNCIL'S INTENT TO PROVIDE FUNDING TO ASSIST WITH
THE RESIDENT PURCHASE OF HICKORY VILLAGE MOBILE HOME PARK
AND DIRECTING DEVELOPMENT OF A PROCESS FOR EVALUATING
AND POTENTIALLY SUPPORTING SIMILAR FUTURE OPPORTUNITIES
WHEREAS, Hickory Village Mobile Home Park ("Hickory Park") is one of nine mobile
home parks in Fort Collins and contains approximately 200 manufactured housing units,a majority
of which are owned by the residents of the park; and
WHEREAS,in early March 2021,residents of Hickory Park received notification from the
owner of his intent to sell Hickory Park; and
WHEREAS, City Council recognizes manufactured housing communities as some of the
most affordable housing in Fort Collins; and
WHEREAS, City Council supports the residents of Hickory Park in their efforts to
purchase Hickory Park and maintain this affordable housing; and
WHEREAS, the residents of Hickory Park are working with Thistle, a non-profit
affordable housing organization which provides technical assistance and helps arrange financing
for residents of mobile home parks who wish to purchase their parks; and
WHEREAS, affordable housing financing is complex and lenders often require a show of
support from the community in which the property is located to approve financing; and
WHEREAS, City Council intends this Resolution to be a show of support for the Hickory
Village residents' bid to secure private financing; and
WHEREAS, City Council intends to commit $200,000 of City funds to assist with down
payment or rent stabilization should the Hickory Park residents' offer to purchase the property be
accepted by the current owner; and
WHEREAS, City Council finds this expenditure will align with the public purpose of
supporting the City's Neighborhood Livability and Social Health goals; and
WHEREAS, state law provides home owners in mobile home parks the opportunity to
purchase their park under circumstances such as these: and
WHEREAS,the City Council has adopted a Housing Strategic Plan supporting tenant right
of first offer/ refusal for cooperative ownership of multifamily or manufactured housing
communities to address the challenge of housing stability; and
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WHEREAS,an Ordinance for appropriation of funding will be brought forward if and once
the final terms of the Hickory Park purchase have been successfully negotiated and as set forth
below; and
WHEREAS, considering the short timeframe and need for prompt action in connection
with opportunities such as this one for the purchase of mobile home parks and other rental
properties by residents, and the City's interest in supporting resident-owned communities, it will
be beneficial for the City to develop a process to systematically review and evaluate potential City
support in response to future opportunities.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the City Council hereby makes any and all determinations and findings
contained in the recitals set forth above.
Section 2. That the City Council hereby supports the efforts of the Hickory Park
residents to purchase Hickory Park.
Section 3. That the City Council hereby expresses its intent to provide City funds in
the amount of$200,000 to assist residents of Hickory Park with down payment assistance or rent
stabilization in the event the proposed purchase of Hickory Park proceeds.
Section 4. That City Council will consider a future ordinance appropriating $200,000
at a future date if this Resolution is adopted, Hickory Park residents secure financing and
successfully negotiate an agreement to purchase the property,and an agreement addressing the use
of the funding to be provided by the City is reached; all of which is subject to the approval of the
City Council in its sole discretion.
Section 5. That the City Manager is hereby directed to develop an implementation
roadmap for the Housing Strategic Plan strategies by which the City may systematically review
and evaluate opportunities to advance the priorities and vision of the HSP, to be discussed with
the City Council at a work session no later than July 31, 2021.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 18th
day of May, A.D. 2021.
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