HomeMy Public PortalAboutAB 08-163 NHS lease amendmentMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
216 East Park Street
McCall, ID 83638
AB08-163
August 14, 2008
AGENDA ITEM INFORMATION
SUBJECT:
Neighborhood Housing Services and the McCall
Avenue Homes
Approvals: Department/
Committee/Individual
Initials
Remarks
(Originator/
Support)
Mayor /Council
City Manager
originator
Community Development
Treasurer
Clerk, Deputy City Clerk
Police Department
Public Works
Golf Operations
COST IMPACT:
Parks & Recreation
FUNDING SOURCE:
Airport
Library
TIMELINE:
City Attorney
Grant Coordinator
SUMMARY STATEMENT:
City Attorney Bill Nichols has prepared the attached First Amendment to the Ground Lease between
Neighborhood Housing Services (NHS) and the City. The Amendment will defer the repayment of the City's
$175,000 investment in community housing. The funds will eventually be repaid as homes are sold and the
lease is transferred. Payments will be due to the City at the time of lease transfer in an amount "equal to ten
percent (10%) of the equity the Lessee had in the improvement(s), or Five Thousand Dollars ($5,000.00),
whichever is less."
The lease amendment has been provided to both NHS and VARHA.
Staff recommends that the Memorandum of Understanding (MOU) between the City and NHS not be
terminated at this time. The termination of the MOU can be completed upon the sale of all of the McCall
Avenue homes.
RECOMMENDED ACTION:
Approve the First Amendment to the Ground Lease and authorize the Mayor to sign all necessary
documents.
RECORD OF COUNCIL ACTION
Meeting Date
ACTION
July 10, 2008
AB08-143: Council discussed the McCall Avenue Homes and NHS
July 24, 2008
AB08-154: Council discussed the McCall Avenue Homes and NHS