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HomeMy WebLinkAbout2021-101-10/19/2021-APPROVING A WAIVER OF THE 2018, 2019 AND 2020 PILOT FOR HOUSING CATALYST RESOLUTION 202 1-101 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING A WAIVER OF THE 2018, 2019 AND 2020 PILOT FOR HOUSING CATALYST WHEREAS,on December 16, 1971,the City and the Fort Collins Housing Authority,now called Housing Catalyst,entered into a Cooperation Agreement(the"Agreement")to comply with the requirements of a public housing program financed by the federal Department of Housing and Urban Development("HUD"); and WHEREAS, the Agreement requires Housing Catalyst to make an annual payment in lieu of taxes("PILOT")to the City for the public services and facilities provided by the City to Housing Catalyst projects; and WHEREAS,from approximately 1992 until 2017,the City remitted such PILOT payments to Housing Catalyst to help fund affordable housing-related activities and meet the needs of low- income Fort Collins residents; and WHEREAS, in January 2019 the City Council approved Resolution 2019-003, approving a waiver of the 2017 PILOT for Housing Catalyst rather than having Housing Catalyst pay the PILOT funds to the City and then appropriating funds to repay it as in past years, simplifying the process; and WHEREAS, Housing Catalyst is scheduled to make PILOT payments of$9,447 for 2018, $12,069 for 2019, and $14,524 for 2020; and WHEREAS,City staff is recommending that the Council again waive the requirement that Housing Catalyst pay the PILOT funds; and WHEREAS, the parties to a contract can agree to waive an obligation required of a party to such contract; and WHEREAS, as a condition of agreeing to such waiver, the City will require Housing Catalyst to sign a letter agreement obligating Housing Catalyst to spend the funds for creating or maintaining affordable housing in a manner consistent with HUD guidelines. NOW,THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the City Council hereby makes and adopts the determinations and findings contained in the recitals set forth above. Section 2. That the City Council hereby waives Housing Catalyst's obligation to make PILOT payments for 2018, 2019 and 2020 pursuant to the 1971 Cooperation Agreement on the condition that Housing Catalyst spend such funds for affordable housing and related activities for Fort Collins residents consistent with HUD guidelines. -1- Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 2nd day of November, A.D. 2021. Ma ATTEST: Interim City Clerk FORT CO. SEAL •�ORORP�O