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CITY OF WHEAT RIDGE HOUSING AUTHORITY
Minutes of Special Meeting
August 14,2001
ORIGINAL
1. CALL THE MEETING TO ORDER
The meeting was called to order by Chair DiTULLIO at 7:00 p.m., August 14,2001, in the
Lobby Conference Room of the Municipal Building, 7500 West 29th Avenue, Wheat Ridge,
Colorado.
2.
ROLL CALL
Authority Members Present:
Cheryl Brungardt
Mary Jo Cavarra
Kent Davis
. Jerry DiTullio
Kathryn Fulton
Others Present:
Alan White, Planning Director
Alan Feinstein, Jefferson County Housing Authority
Jim Bills, Vectra Bank
Larry Nelson Cornerstone Realty
Betty Maybin, Cornerstone Realty
Bob Olsen, The Chronicle
Ann Lazzeri, Secretary
3. NEW BUSINESS
A. Purchase of Property Located at 3747 Quail Street
Jerry DiTullio reported that he signed a contract to purchase property at 3747 Quail contingent
upon approval of the Housing Authority. Larry Nelson of Cornerstone presented an overview
of the contract for the Authority's information.
. Offer was made at $90,000 per townhome unit, or $1,260,000 for the entire property.
. Loan commitment is due September 26,2001.
. Appraisal is due September 17.
. Inspection is due August 24.
. It is hoped to have some properties ready to sell by December, 2001.
. Project would meet zoning requirements as a legal nonconforming use.
It was moved by Kathryn Fulton and seconded by Kent Davis to approve the contract to
purchase property located at 3747 Quail Street. The motion passed unanimously.
Housing Authority
August 14, 2001
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B. Division of Housin2 Grant
Alan Feinstein reported that he and Cheryl Brungardt attended a meeting ofthe Division of
Housing where the Housing Authority's application for a $500,000 grant was unanimously
approved. The funds should be available by the time the Quail property closes. There was
discussion regarding an extension ofthe contract in case the grant money is not available at
time of scheduled closing.
It was moved by Mary Jo Cavarra and seconded by Kathryn Fulton to authorize
Cornerstone Realty to negotiate a 30-day extension on the contract. The motion passed
unanimously.
9. ADJOURNMENT It was moved by Mary Jo Cavarra and seconded by Kathryn Fulton
to adjourn the meeting at 7:50 p.m. The next meeting will be held August 22, 2001.
Secretary
Housing Authority
August 14, 2001
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