AC Color Logo1.png

ARCHULETA COUNTY

BOARD OF COUNTY COMMISSIONERS

 

CALL TO ORDER THE SPECIAL MEETING OF THE BOARD OF COUNTY COMMISSIONERS OF MAY 28, 2019 AT 1:30 P.M.

 

NEW BUSINESS

A.

Consideration of Commitment Letter and Lease for DHS Facilities

The Board of County Commissioners (BoCC) has previously authorized the donation of a land parcel on Hot Springs Blvd. to the Archuleta County Housing Authority (ACHA) for the construction of an affordable housing development.  The ACHA has proposed to include office space in this development for the County Department of Human Services.  This letter of commitment from the BoCC commits to provide up to $1.2 million in funding to assist in the construction as well as to enter into a long term fully net lease for a term of 35 years with a lease rate of $50,000 per year.  The lease payments will be utilized to secure permanent financing for the development of the Human Services Building.  The BoCC will also provide the ACHA with a long term land lease on the property to be occupied by the Human Services Building according to the terms listed in the land lease of the residential parcel.  Both land and improvements will revert back to Archuleta County ownership at the conclusion of the 35 year building lease term.  The commitment is conditioned on the ACHA receiving an allocation of Low Income Housing Tax Credits from the Colorado Housing and Finance Authority in the amount requested.  Neither the BoCC nor the ACHA will be bound by this agreement if the Tax Credit application is not approved.

Presentor
Todd A. Weaver
Presentor's Title
County Attorney
B.

Consideration and Approval of a Resolution 2019-__, Amending Section 2 of the Previously Adopted Resolution No. 2019-35 (the "Authorizing Resolution")

The County has put out to bid the 2019 Certificates which will finance the construction of a new Detention Facility.  The County's Municipal Advisor is monitoring marketplace conditions and has determined that if the County modifies one of the parameters included in the Resolution 2019-35 (the "Authorizing Resolution"), the likely result will be a larger number of bids, increased competition and the possibility that the winning bid will have a lower calculated True Cost of Interest (TIC) that might otherwise be the case.

Toward this end, staff are recommending modification of Resolution 2019-35 (the "Authorizing Resolution") as recommended by the Municipal Advisor and the Bond Attorney.
Presentor
Larry Walton
Presentor's Title
Finance Director
 

ADJOURNMENT OF THE SPECIAL BOCC MEETING


All meetings to be held in the Archuleta County Administration Offices
398 Lewis Street, unless otherwise stated.

All Regular and Special BoCC Meetings are recorded.