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03. Resolution 4444 - Award Bid - Lot 4 Teton TerraceDATE: January 8, 1999 TO: Glen Neier, City Attorney FROM: Susan Moyer, Housing Manager SUBJECT: Award of Bids — Council Agenda for January 19, 1998 On December 23, 1998 we opened bids for a duplex type structure in Teton Terrace and two single family stand alone homes in Woodland Court. Pacific Homes and Land, Inc. was the successful bidder for all four units. Will you please prepare a resolution for the council to authorize the sale of these properties as follows: Teton Terrace — A subdivision of Porta Villa #2, records of Flathead County, located in the NE 1/4 of Section 12, T28N, R22W, P.M.M., Flathead County, Montana Lot 4 has a cash sale of land and foundation work of $10,728 and a $13,000 zero interest deferred 30 year mortgage. Ownership of Lot 3 remains with the City of Kalispell and the completed structure will be utilized as a model until the project is close to completion. Therefore, the contractor will be paid directly by the city for his construction costs on this particular unit. Woodland Court - Located in the SE 1/4 of SE 1/4, Section 17, T2SN, R21 W, P.M.M., Flathead County, Montana Lot 19 has a cash sale of land and foundation work of $25,574 and a $16,000 zero interest deferred 30 year mortgage. Lot 22 has a cash sale of land and foundation work of $25,703 and a $16,000 zero interest deferred 30 year mortgage. C:\myfiles\homeowner\bid packet #5 Cc: Theresa White, Clerk of Council RESOLUTION NO. 4444 A RESOLUTION AUTHORIZING THE ACTING CITY MANAGER, FINANCE DIRECTOR AND CLERK OF COUNCIL TO EXECUTE THE DOCUMENTS NECESSARY TO TRANSFER LOT 4, TETON TERRACE, RECORDS OF FLATHEAD COUNTY, LOCATED IN THE NE%, OF SECTION 12, T28N, R22W, P.M.M, FLATHEAD COUNTY, MONTANA TO PACIFIC HOMES AND LAND, INC. 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 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 five 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 WHEREAS, the City of Kalispell, a municipal corporation owns certain real property, to wit: LOT 4, TETON TERRACE, RECORDS OF FLATHEAD COUNTY, LOCATED IN THE NE1/, OF SECTION 12, T28N, R22W, P.M.M, FLATHEAD COUNTY, 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 F:\wp\res\4444 teton terr3.wpd 1 Kalispell, Glacier Affordable Housing and lending institutions responsible for providing construction financing, and 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, Pacific Homes and Land, Inc. submitted the most acceptable proposal to build a duplex 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 fora 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 it 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: SECTION I. That the Acting City Manager, Finance Director and Clerk of Council are hereby authorized and directed to execute all necessary legal F:\wp\res\4444 teton terr3.wpd 2 documents to transfer all right, title and interest that the City has in LOT 4, TETON TERRACE, RECORDS OF FLATHEAD COUNTY, LOCATED IN THE NEIA, OF SECTION 12, T28N, R22W, P.M.M, FLATHEAD COUNTY, MONTANA to Pacific Homes and Land, Inc. for Ten Thousand, Seven Hundred and Twenty-eight Dollars ($10,728.00) cash and other valuable consideration, together with a Note in the amount of Thirteen Thousand Dollars ($13,000.00), 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 sale or refinance of said property secured by the Second Mortgage. 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 COUNCIL AND SIGNED BY THE MAYOR OF THE CITY OF KALISPELL THIS DAY OF , 1999. William E. Boharski - Mayor Attest: Theresa White Clerk of Council F:\wp\res\4444 teton terr3.wpd 3