Title
CDA Resolution # 4276 - Authorizing the execution of a contract with Bluestone Custom Homes, LLC for the construction of a model home at Mosaic Ridge
Body
RESOLUTION
WHEREAS, The Community Development Authority of the City of Madison (the “CDA”) is undertaking the development of single-family homes at Mosaic Ridge; and
WHEREAS, the Destree Architects have designed three model house plans in compliance with the draft Mosaic Ridge Architecture and Landscape Guidelines; and
WHEREAS, the Bluestone Custom Homes LLC has been selected as the exclusive builder at Mosaic Ridge; and
WHEREAS, the 2018 Capital Improvement Program approves the use of up to $500,000 for construction of homes at Mosaic Ridge; and
WHEREAS, the existing Model Home at Mosaic Ridge is under contract to be sold.
NOW, THEREFORE, BE IT RESOLVED that the CDA approves purchase of a home to be constructed by Bluestone Custom Homes LLC on substantially the same terms as are set forth in Attachments A and B with a total project cost not to exceed $225,000.
BE IT FURTHER RESOLVED that the CDA authorizes the Executive Director at his/her sole discretion to execute the sale of the Property at the price of no less than $240,000 and deliver warranty deeds to buyers pursuant to such sale.
BE IT FURTHER RESOLVED that the Executive Director is authorized to execute, deliver, accept and record any and all documents and take such other actions as shall be necessary or desirable to accomplish the purpose of this resolution in a form approved by the City Attorney.