Resolution 4349 - Authority to Sell Lots for 1st Time Home Buyers - Teton Terrace1659
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RESOLUTION NO. 4349
A RESOLUTION AUTHORIZING THE MAYOR, FINANCE DIRECTOR AND CLERK OF
COUNCIL TO EXECUTE THE DOCUMENTS NECESSARY TO TRANSFER LOTS 22 AND
23, TETON TERRACE, AN AMENDED SUBDIVISION OF LOT 6, PORTA VILLA #3,
RECORDS OF FLATSBAD COUNTY, LOCATED IN THE M, OF SECTION 12,
T28N, R22W, P.M.M, FLATHEAD COUNTY, MONTANA TO HEWITT CONSTRUCTION.
WHEREAS, the City Council of the City of Kalispell
recognizes a need for affordable housing within the
City, and
WHEREAS, the creation of affordable housing opportunities
has been established as a goal by the City, and
WHEREAS, the City of Kalispell, a municipal corporation owns
certain real property, to wit: LOTS 22 AND 23,
TETON TERRACE, AN AMENDED SUBDIVISION OF Lot 6,
PORTA VILLA ##3, RECORDS OF FLATHEAD COUNTY, LOCATED
IN THE NEB, OF SECTION 12, T28N, R22W, P.M.M,
FLATHEAD COUNTY, MONTANA and
WHEREAS, the City has obtained final plat approval on said
property and created two single family detached
residential lots on said property, and
WHEREAS, the City has applied for and received a Community
Block Grant in the amount of $400,000.00 and a
Montana Home Investment Partnership Program in the
amount of $400,000.00 and will use a portion of
each grant to fund site development and
construction assistance to build the two single
family detached residences on said property and
other single family detached residences on
remaining lots owned by the City within the Teton
Terrace Subdivision, and
WHEREAS, the City intends to utilize the lots created and
improved to make property available to low income
first time home buyers meeting certain eligibility
requirements established by the Planning, Economic
and Community Development Department of the City of
Kalispell, Glacier Affordable Housing and lending
institutions responsible for providing construction
financing, and
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WHEREAS, the PECDD, Glacier Affordable Housing and local
lending institutions adopted a procedure whereby
reputable contractors within Flathead County
submitted competitive proposals to build pre -
designed single family detached residences on the
within described real property for sale to pre -
qualified individuals desiring to obtain affordable
housing, and
WHEREAS, based upon review of proposals submitted by said
contractors, Hewitt Construction submitted the
most acceptable proposal to build single family
detached residences on the above described real
property, and
WHEREAS, the Montana Board of Housing has agreed to provide
up to $2,400,000.00 for the purpose of providing
permanent financing to qualified first time home
buyers, and
WHEREAS, the proposed project, because it is directed at low
income first time home buyers, requires that
individual lots be sold at less than the fair
market value, and
WHEREAS, the property is not held in trust by the City of
Kalispell for a specific purpose and therefore does
not require an election in order to authorize its
sale, and
WHEREAS, the property is not necessary for the conduct of
City business nor for the preservation of property
owned by the City and its is in the best interest
of the City of Kalispell and its inhabitants to
sell said property to pre -qualified low income
first time home buyers as described herein.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
KALISPELL, MONTANA AS FOLLOWS:
RRMTON I. That the Mayor, Finance Director and Clerk of
Council are hereby authorized and directed to
execute all necessary legal documents to
transfer all right, title and interest that
the City has in LOT 22, TETON TERRACE, AN
AMENDED SUBDIVISION OF Lot 6, PORTA VILLA #3,
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RECORDS OF FLATHEAD COUNTY, LOCATED IN THE
NE% OF SECTION 12, T28N, R22W, P.M.M,
FLATHEAD COUNTY, MONTANA to Hewitt
Construction for Six Thousand Dollars
($6,000.00) cash, together with a Note in the
amount of Ten Thousand Dollars ($10,000.00)
bearing no interest, secured by a Second
Mortgage and LOT 23, TETON TERRACE, AN AMENDED
SUBDIVISION OF Lot 6, PORTA VILLA #3, RECORDS
OF FLATHEAD COUNTY, LOCATED IN THE NE%, OF
SECTION 12, T28N, R22W, P.M.M, FLATHEAD
COUNTY, MONTANA to Hewitt Construction for
Four Thousand Dollars ($4000.00) cash,
together with a Note in the amount of Twelve
Thousand Dollars ($12,000.00) bearing no
interest, secured by a Second Mortgage.
SECTION
II. Said Note, secured by a Second Mortgage shall
be assumed by the purchaser of the respective
lots and be assigned to Glacier Affordable
Housing at the time of closing of the
permanent loan. Said Note shall be due on
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sale or refinance of said property secured by
the Second Mortgage.
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SECTION III. That the proceeds of the sale of the lots,
authorized herein, shall be used to complete
City obligations for the full development of
Teton Terrace Subdivision for the benefit of
low to moderate income buyers within the City
of Kalispell.
PASSED AND APPROVED BY THE CITY COUNC AND MAYOR OF THE CITY OF
KALISPELL THIS 7 "k DAY OF It , 1997.
Attest:
V �i[
Debbie Gilviiw CMC
Clerk of Council
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