Resolution 4350 - Authority to Sell Lots for 1st Time Home Buyers - South Woodland11662
RESOLUTION NO.4350
I
A RESOLUTION AUTHORIZING THE MAYOR, FINANCE DIRECTOR AND CLERK OF
COUNCIL TO EXECUTE THE DOCUMENTS NECESSARY TO TRANSFER LOTS 1, 2,
AND 3, PLAT OF WOODLAND COURT, A RESUBDIVISION OF LOTS 27, 28, AND
29, BLOCK 1, OF GREENACRES, LOCATED IN THE SM4 OF SEA, SECTION 17,
T28N, R21W, P.M.M, FLATHEAD COUNTY, MONTANA TO RANDY JONES
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 1, 2, AND 3,
PLAT OF WOODLAND COURT, A RESUBDIVISION OF LOTS 27,
28, AND 29, BLOCK 1, OF GREENACRES, LOCATED IN THE
SE% OF SE)A, SECTION 17, T28N, R21W, P.M.M.,
Flathead County, Montana, and
WHEREAS, the City has obtained final plat approval on said
property and created three single family
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 three single
family residences on said property and other single
family residences on remaining lots owned by the
City within the Woodland Court 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 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 Randy Jones Construction submitted the
most acceptable proposal to build single family
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 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 FOLLv;niS:
SECTION
T. 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 LOTS 1, 2, AND 3, PLAT
OF
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WOODLA:� COURT, A RESUBDIVISION OF LOTS 27,
28, AND 29, BLOCK 1, OF GREENACRES, LOCATED IN
THE SE% OF SE%, SECTION 17, T28N, R21W,
P.M.M., Flathead County, Montana, to Randy
Jones Construction for Eight Thousand Dollars
($8,000.00) cash, together with a Note in the
amount of Sixteen Thousand Dollars
($16,000.00) bearing no interest, secured by a
Second Mortgage.
SF�TI9N-_�I. 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 MAYOR OF THE CITY OF
KALISPELL THIS DAY OF S , 1997.
Attest:
Wth�L, 9 ��_d
Debbie Giffo ,bmc
Clerk of Council
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