HomeMy WebLinkAbout1998-023-02/03/1998-AUTHORIZING FUNDING FOR EAGLE TREE AFFORDABLE HOUSING PROJECT THROUGH HOME PROGRAM RESOLUTION 98-23
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING FUNDING FOR AN AFFORDABLE
HOUSING PROJECT THROUGH THE HOME PROGRAM
OF THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
WHEREAS,in May, 1994,the City received designation as a participating jurisdiction in the
HOME Program of the Department of Housing and Urban Development(HUD); and
WHEREAS, the purpose of the HOME Program is to expand the supply of decent, safe,
sanitary and affordable housing in the City and to strengthen the ability of the City to provide
housing as well as to expand the capacity of non-profit community-based housing development
organizations to provide such housing; and
WHEREAS, the City has received a request for HOME Program funding in the amount of
One Hundred Thousand Dollars ($100,000) for the "CARE Housing, Inc." project known as the
Eagle Tree Project,which request has been reviewed by City staff and recommended to the Council
by the City's Community Development Block Grant Commission; and
WHEREAS, the City Council previously approved on October 1, 1996, a grant amount of
One Hundred Twenty-five Thousand Dollars ($125,000) in HOME funds for the Eagle Tree Project
in Resolution 96-119 and also previously approved on June 3, 1997, a grant amount of Fifty-five
Thousand dollars ($55,000) in HOME funds for the Eagle Tree Project in Resolution 97-78; and
WHEREAS, the final Planned Unit Development approval for the Eagle Tree Project was
received in September, 1996; and
WHEREAS, construction of the Eagle Tree Project is underway, and unanticipated site
conditions have resulted in an increase in the cost of construction; and
WHEREAS, the grant of the requested$100,000 HOME funds is consistent with applicable
HOME program regulations; and
WHEREAS, the Council has determined that it is in the best interest of the City that the
Eagle Tree Project be approved for the requested funding through the HUD HOME Program.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the CARE Housing, Inc. project known as the Eagle Tree Project, which will
construct thirty-six (36) permanently affordable housing units, is hereby approved for additional
grant funding through the HOME Program of the Department of Housing and Urban Development
in the amount of One Hundred Thousand Dollars ($100,000), to be applied toward the costs of
construction.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this
3rd day of February, A.D. 1998.
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ATTEST:
UL
City Clerk