Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Affordable Housing topic
No spam. Unsubscribe anytime.
Commissioners approve $3.5 million allocation to secure Oxford Vista site for affordable housing
Summary
A county director asked the board to raise the previously authorized purchase amount for 7.5 acres at Oxford Vista from $3.4 million to $3.5 million to match the seller'land-trust appraisal midpoint for a planned affordable-housing development with Aurora Housing Authority; commissioners signaled support to place the item on the consent agenda.
A county director asked the Board of County Commissioners to increase the previously authorized purchase amount for a 7.5-acre parcel at Oxford Vista, recommending $3,500,000 to complete a purchase-and-sale agreement with Aurora Housing Authority for a planned affordable-housing development.
"After going back and forth, we came back to the agreement that we could meet in the middle at the original 3.5," the director said when explaining why the staff sought the additional allocation to bridge an appraisal discrepancy. The staff had previously relied on a $3.4 million appraisal in the signature-authority authorization and returned with the $3.5 million figure after the land trust produced a higher appraisal.
Commissioners registered informal assent by thumbs; the chair reported five thumbs-up and instructed staff to add the revised allocation to the consent agenda for formal approval. No commissioner spoke in opposition during the exchange.
The director said staff hopes to close the purchase this fall and noted the action is intended to allow the county to proceed in partnership with Aurora Housing Authority on the future development. The board did not take a roll-call vote during the discussion; staff will place the allocation on the consent agenda for formal adoption.
