RESOLUTION 19-021 PURCHASE CONTRACT WITH RICHARD A FISHER.DOC

RESOLUTION 19-021
PURCHASE CONTRACT WITH RICHARD A. FISHER
(13204 W Maryland Ave, Litchfield Park AZ 85340)
WHEREAS, the Housing Authority of Maricopa County converted seventy public housing units under the
Rental Assistance Demonstration program under Resolution 16-010 and will be transferring the
subsidy/assistance of these units in April 2020 to a new centralized location in Surprise, AZ known as
Heritage;
WHEREAS, the seventy public housing units are queued for disposition after transfer of assistance;
WHEREAS, request for Partial Release of Declarations of Trust on this parcel to HUD is in process;
WHEREAS, current tenants were offered a homebuyer program of purchasing one of the seventy
converted units;
WHEREAS, Richard A. Fisher, a tenant at 13204 W Maryland Ave, Litchfield Park AZ 85340 Parcel 501-57-
090 (Legal Description Lot 46 Casitas Bonitas MCR 015148) has submitted a purchase contract for this
property in the amount of $195,000, has requested $5,000 in closing costs and warranty seller
contributions, and has obtained conventional financing in the amount of $160,050 and HAMC will carry
$30,000 as a zero interest bearing promissory note;
WHEREAS, the closing date is scheduled for October 10, 2019.
NOW THEREFORE:
BE IT RESOLVED, the Board of Commissioners hereby adopts Resolution 19-021 and approves the
purchase contract in the amount of $165,000 with Richard A. Fisher for the sale of real property located at
13204 W Maryland Ave Litchfield Park, AZ, contingent upon HUD approving Partial Release of
Declarations of Trust, and authorizes the Executive Director to execute all documents, covenants, and
agreements associated with the sale of the subject real property.
Dated this __________________ day of ______________________________________, 2019.
Housing Authority of Maricopa County
ATTEST:
Chairman, Board of Commissioners
Gloria Munoz, Clerk of the Board
Approved As To Form
Attorney for Housing Authority