HomeMy WebLinkAboutMINUTES Special Estes Park Urban Renewal Authority 1997-07-30BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS
Estes Park Urban Renewal Authority
"July 30, 1997
Commissioners:
Attending:
Also Attending:
Polly Gunn, Carl Henderson, Gary F. Klaphake,
Richard S. Putney, Paula Steige, Gerald W.
Swank, Al Wasson
Chairman Gunn, Commissioners Henderson,
Klaphake, Putney, Steige, Swank, and Wasson
Executive Director Anderson, Deputy Clerk
Kuehl
Absent:None
Chairman Gunn called the special meeting to order at 8:00 a.m.
AUTHORITY BUSINESS
Resolution No. 254: Director Anderson explained that with the
adoption of Resolution No. 252, the Board of Commissioners approved
an agreement to lease with an option to purchase property described
as Lot 2, Stanley Knoll Subdivision, of Tract 2, Stanley Addition
to the Town of Estes Park, County of Larimer, State of Colorado,
known as the "Knoll". Resolution No. 254 amends Resolution No. 252
to accommodate clearance of title matters, revise the beginning
date of the lease to July 30, 1997, and authorize the annual lease
payment date on or before July 30 of each calendar year. All other
provisions of Resolution No. 252 shall remain in effect. Director
Anderson read the resolution. A memorandum is made part of the
lease/option purchase agreement summarizing portion of the
agreement as follows:
1. The lease commences on July 20, 1997 and terminates
December 31, 1997, to be renewed at the option of the
Authority for six consecutive 12-month annual terms.^
2. The initial payment by the Authority for the lease/option
to purchase is $400,000.00 principal. The annual rate to
be paid for the lease is $119,230.12, principal and
interest, payable on or before July^30 of each year.
3. The Authority may exercise an option to purchase the
property at any time for the duration of the Agreement
for a purchase price of $975,000. All portions of the
principal payments under the lease shall be applied to
the purchase price.
It was moved and seconded (Swank-Wasson) Resolution No. 254 be
approved, and it passed unanimously. Director Anderson announced
the closing on the property will take place in Loveland today at
3:30 p.m. Commissioner Wasson explained that EPURA sought
community public opinion from those residing in the urban renewal
area, and was guided in the purchase of this property through the
results of that public opinion.
Chairman Gunn adjourned the meeting at 8:11 a.m., with a study
session to follow. The next regular meeting is scheduled for
August 13, 1997, at 8:00 a.m.
Tina Kuehl, Deputy Town Clerk