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HomeMy WebLinkAbout1996-024-02/20/1996-AFFORDABLE HOUSING COLORADO COMMUNITY HOUSING LTD COMMUNITY DEVELOPMENT CORP RESOLUTION 96-24 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING CERTAIN ACTION IN RELATION TO THE PROPOSED FORMATION OF A REGIONAL COMMUNITY DEVELOPMENT CORPORATION WHEREAS, the provision of affordable housing is a major policy theme in the City Council's 1995-1997 agenda and serves an important public purpose for the citizens of the City; and WHEREAS, a steering committee of local public and private agencies has been formed within the Fort Collins community (the "Steering Committee") for the purpose of examining the feasibility of establishing a non-profit corporation to promote affordable housing in the community; and WHEREAS,on September 19, 1995,the City Council adopted Resolution 95-137 expressing its support for the formation of such a corporation and its intention to help fashion an ongoing public/private partnership to meet the long-term affordable housing needs of the community; and WHEREAS, Resolution 95-137 directed City staff to present for the City Council's consideration a proposed appropriation ordinance authorizing the utilization of One Hundred Twenty-five Thousand Dollars ($125,000) to help fund the operating costs of such a corporation, as well as a proposed program for the ongoing provision of additional affordable housing funds to be used for the continuing support of the corporation in future years; and WHEREAS,in February of 1995,members of the community of Loveland,Colorado formed a Colorado nonprofit corporation, Loveland Community Housing, Ltd. (the "Loveland Corporation"), the purpose of which is to promote affordable housing within the City of Loveland; and WHEREAS,the Loveland Corporation was established with the support of the Loveland City Council, and it is anticipated that the funding necessary to further the purposes of the Loveland Corporation will be obtained from both public and private funding sources; and WHEREAS, the need for affordable housing is a regional need which can best be addressed through the cooperation of public and private entities throughout Northern Colorado; and WHEREAS, the goals and objectives of the Loveland Corporation appear to be similar to, and compatible with, those of the City of Fort Collins; and WHEREAS, the Council of the City of Fort Collins believes that it would be in the best interests of the City, and the Northern Colorado region, if the cities of Loveland and Fort Collins were to cooperate with private lending institutions from both cities to form a single, nonprofit corporation to promote affordable housing within Northern Colorado; and WHEREAS,the Board of Trustees of the Loveland Community Housing,Ltd. has proposed the following amendments to its Articles of Incorporation: 1. changing the name of the corporation to the Northern Colorado Community Housing,Ltd., a Colorado non-profit corporation; 2. changing the purpose and powers of the corporation to include the purpose of fostering the development and retention of housing affordable to low and moderate income individuals and families living within the City of Loveland, Colorado Area of Community Influence ("ACI"), and the City of Fort Collins, Colorado Urban Growth Area("UGA") as they may exist from time to time; and 3. changing the composition of the Board of Trustees of the Loveland Community Housing, Ltd. so that the board consists of four standing members,one of whom shall be a person selected by the City Council of the City of Fort Collins for a term of one year; one a person selected by the City of Loveland, Colorado; one a person selected by Latimer County, Colorado; one a person selected by Colorado State University; with the remaining members of the initial board to consist of five (5) persons residing within the Fort Collins UGA, five (5) persons residing within the Loveland ACI, and one person chosen at large. WHEREAS,the City Council believes that the participation of the City of Fort Collins in the Loveland Community Housing, Ltd. would be in the best interests of the City and would serve an important public purpose for the citizens of the City. NOW,THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS, as follows: Section 1. That, at such time as the Loveland Community Housing, Ltd. Board of Trustees adopts the above-referenced amendments to its Articles of Incorporation and Bylaws, Gina C. Janett, shall be, and hereby is, appointed by the City Council to serve as a member of the Board of Trustees of the Loveland Community Housing,Ltd. as a representative of the City of Fort Collins. Section 2. That the Steering Committee is hereby requested to nominate five (5) people who reside in the Fort Collins Urban Growth Area to serve on the Board of Trustees of the Northern Colorado Community Housing,Ltd.; and Section 3. That upon the completion of the above-referenced amendments to the Articles of Incorporation and Bylaws, and the acceptance of the same by the Board of Trustees of the Loveland Community Housing, Ltd., the City Manager and the City Attorney shall be, and hereby are, authorized to prepare for the City Council's consideration: a. A proposed contract for services between the City and the Northern Colorado Community Housing, Ltd., the provisions of which contract for services shall be consistent with the purposes for which the Northern Colorado Community Housing, Ltd. is established and with the previously adopted Council policies pertaining to the provision of affordable housing in the City; and b. A proposed appropriation ordinance authorizing the sum of Seventy- five Thousand Dollars ($75,000) to fund the first year of the City's participation in the Northern Colorado Community Housing, Ltd., with an additional $75,000 to be included for such purposes in the 1997 Budget of the City of Fort Collins. Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this 20th day of February, A.D. 1996. Mayor ATTEST: ��� - City Clerk