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Town Council Resolution 07 2010* j 11 i I = • CEI -1 W7 ISIF TAL GRUS51116 HOMES LOCATED ON LOT #17,146 RODEO ROAD & LOT #20,184 RODEO ROAD TO BE PAID FROM THE FLOOR AREA EXCISE TAX FUND AND ALLOWING A PORTION OF • BE ADDED TO THE RESALE PRICE OF INCURRED DUE DEBRIS FLOW EVENT THAT OCCURRED ON JULY 3, 11 WHEREAS, the Town Council directed staff to prepare this Resolution after reviewing this matter during the December 7 th 2009 council meeting; and WHEREAS, : r Lot 46 Rodeo Road and Lot # 20,184 `ii's,. Road, submitted construction repairi to document the repairexpenses i` to their homes from! i debris i and WHEREAS, . A _ Council` i i ,... .• i the extreme s. i i. these unexpected construction expenses have created for the homeowners; and WHEREAS, Town Councili adoption of this Resolution for t` preservation i i` public i i WHEREAS,` Town CouncilM directed ` Housing Director to calculate the total construction ..i i ,... repair expensesand reimbursehomeowners 20'i of these expenses from the Floor Area i and allow 0% percent of the expenses be added i the resale priceof these homes.' a of the constructionexpenses added to the resale price of these homes will added as an improvement and this amount will not earn interest or be added to the CPI resale calculation. NOW THEREFORE, BE IT RESOLVED, by the Town Council of the Town of Snowmass Village, Colorado, as follows: 1 In an i........rt tf rehabilitate and keep the Crossingsf f ii il .. future buyers the Councilauthorizing a one- disbursement fi funds to reimburse the homeownersi'....... portion ff their construction repairs. 2. Splitting fursement funds with a cash distribution ani adding amountsmall on to the resale price will assist in keeping the resale price totalof these homes lower and more affordable for future buyers. 3. Accordingly, Town Council has directed the Housing Director to calculate the f i repair expenses and reimburse the homeowners i, i of these expenses from f i Area Excise Tax Fund and allow is i f � _ • _ f • "i 1: . ` ! ` i •'.: i f _ fl i �. li f fi f �i r.. i f i l 11W a` MUM-M7RU7e3M7-PTMU fi MUM RUFFIRITIAii i.. :.5 an IrrIf f and this amount will not earn interest or be added to the CPI resale calculation. READ, D i■PsOD AND ADOPTED i the TownCouncilof the Townof ',! Villageof •ruary, 2010 uponmotionf• Councilf` second of Council Member Lewis, and upon a vote of 3 in favor and 2 opposed. Council Members Wilkinsonf Mordkin were opposed. Bill Boineau,Mayor T: '8J .......................... Rhonda B. Coxon,CMC Town Clerk APPROVED S" . k John 'esser, Town Attorney