HomeMy WebLinkAbout03/12/2003
CITY OF WHEAT RIDGE HOUSING AUTHORITY
Minutes of Special Meeting
March 12, 2003
ORIGINAL
A. CALL THE MEETING TO ORDER
The meeting was called to order by Chair DiTullio at 5:00 p.m. in the Lobby Conference Room
of the Municipal Building, 7500 West 29th Avenue, Wheat Ridge, Colorado.
B.
ROLL CALL
Authority Members Present:
Cheryl Brungardt
Mary Jo Cavarra
Kent Davis
Jerry DiTullio
Kathryn Fulton
Others Present:
Alan White, Planning Director
Larry Nelson, Cornerstone Realty
Betty Maybin, Comerstone Realty
Jim Bills, Vectra Bank
Alan Feinstein, Jefferson County Housing Authority
Ann Lazzeri, Recording Secretary
C. CONSIDERATION OF PROPERTY PURCHASE
Larry Nelson submitted two marketing proposals fora property located at 6410 West 44th
A venue. One proposal showed costs with carports; the other proposal showed costs with
garages. Proposed sales prices for the first alternative would be approximately $120,500 for
eight units and $115,500 for two units. The second altemative (with garages) would be
approximately $123,300 for eight units and $118,200 for two units. These prices would
include washers and dryers. It was his suggestion to go with the proposal which includes the
garages. These units could be sold for lower prices than the Quail Square project. The
property could be paid for with cash using a loan to cover rehab costs.
Following discussion ofthe proposals, it was moved by Kent Davis and seconded by Mary
Jo Cavarra to authorize Cornerstone Realty to offer a contract to purchase property at
6410 West 44th Avenue in the amount of $789,000. The motion passed 5-0.
It was moved by Kathryn Fulton and seconded by Cheryl Brungardt to authorize the
issuance of a $10,000 check for earnest money. The motion passed 5-0.
D. ADJOURNMENT
The meeting was adjourned at 5:35 p.m.
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Jetry DITullio, Chair
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Ann Lazzeri, Secretary
Housing Authority
March 12, 2003
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