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HomeMy WebLinkAbout~Master - Requests from ACCESS Shelter RESOLUTION NO. 03-487 RESOLUTION APPROVING REQUESTS FROM ACCESS SHELTER FOR THE CITY OF AMES WHEREAS, on January 28, 2003,the City Council approved the sale of the former ACCESS facility on Duff Avenue; and, WHEREAS,it was agreed that all proceeds of the sale be given to ACCESS and that the City retain a lien against the new property in the amount of$80,000; and, WHEREAS, it was stipulated that a 10-year operational plan be presented to the City and that the $80,000 be applied directly to the first mortgage; and, WHEREAS,in late November,the former building was sold,and the City received checks totaling$80,000;and, WHEREAS,ACCESS is now asking to receive the $80,000 against its new mortgage; and, WHEREAS,under this request, the City would assume the second lender position behind a bank, in terms of the lien; and, WHEREAS,ACCESS has asked for the same arrangement as with its original building—with no repayment until sale of the new building or close of operations; and, WHEREAS,if the City Council desires to go forward with applying the$80,000 on the primary mortgage of the new ACCESS facility,the City would retain a lien against the property until such time as the building is sold or ACCESS ceases to operate the shelter; and, WHEREAS,the City would file a satisfaction of the current lien and accept a second position mortgage lien as security of the loan. NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa, that the 10-year plan as presented by ACCESS is hereby accepted; BE IT FURTHER RESOLVED by the City Council of the City of Ames,Iowa,that the current lien is released, the $80,000 is reassigned to the new facility, and a second position mortgage lien behind the bank is hereby accepted. ADOPTED THIS 23'day of December, 2003. Diane R. Voss, City Clerk Ted Tedesco, Mayor Introduced by: Goodhue Seconded by: Mahayni Voting aye: Goodhue,Hoffinan,Mahayni,Vegge,Wirth Voting nay: None Abstaining: Cross Absent: None Resolution declared adopted and signed by the Mayor this 23'day of December, 2003.