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Home My WebLink About05/06/2008WHEAT RIDGE URBAN RENEWAL AUTHORITY AGENDA May 6, 2008 Notice is hereby given of a Public Meeting to be held before the City oF Wheat Ridge Urban Renewal Authority on Tuesday, May 6, 2008, at 6:00 p.m., in the City Council C6ambers of the Municipal Building at 7500 West 29th Avenue, Wheat Ridge, Colorado. Call the 1Vleeting Yo Order 2. Roll Call of Members 3. Approval of Minutes - Apri115, 2008 4. Public Forum (This is the time for any person to speak on any subject not appearing on the agenda. Public commeuts may be limited Co 3 minutes.) 5. New Business A. Resolution 5-2008 --A Resolution Approving a Representation Agreement by and between the Wheat Ridge Urban Renewal Authority and Wheat Ridge 2020 B. Referral regarding proposed Outline Development Plan Amendment to allow for a larger sign at 6340 W. 38th Avenue 6. Adjournment to June 3, 2008 MINUTES WHEAT RIDGE URBAN RENEWAL AUTHORITY April 15, 2008 1 2. 3 4. CALL THE MEETING TO ORDER The meeting of the Wheat Ridge Urban Renewal Authority was called to order by Chair Williams at 6:05 p.m. in the council chambers of the Municipal Building, 7500 West 29"' Avenue, Wheat Ridge, Colorado. ROLL CALL OF MEMBERS Authority Members Present: Rick Adams James Bahrenburg Janet Leo Walt Pettit Tom Radigan Larry Schulz Terrell Williams Also attending: Patrick Goff, Deputy City Manager Corey Hoffmann, WRURA Attorney Sally Tasker, Sherman & Howard (left meeting at 7:00 p.m.) Rob Osborn, Executive Director WR2020 (arrived at 7:00 p.m.) Ann Lazzeri, Recording Secretary APPROVAL OF MINUTES - April 1, 2008 Terrell Williams requested an amendment to the fourth paragraph of page three of the minutes. The next to last sentence of this paragraph should read: "There is no evidence to show that there was not an intent to transfer this piece of property to Mr. Karl." There were no further cottections. The minutes of April 1, 2008 stood approved as amended. PUBLIC FORUM Charles Durbin was present but did not speak. WRURA Minutes - 1- April 15, 2008 5. NEW BUSINESS A. Executive Session It was moved by Janet Leo and seconded by Larry Schulz to enter into executive session to consider the purchase, acquisition, lease, transfer or sale of real, personal or other property pursuant to C.R.S. Section 24-6-402(4)(a). The motion passed unanimously. The regular meeting was adjourned to executive session at 6:11 p.m. The executive session was convened at 6:12 p.m. The executive session was adjourned at 6:56 pm. The regular meeting was reconvened at 6:58 p.m. B. Resolution No. 4-2008 - A resolution of the Board of Commissioners of the Wheat Ridge Urban Renewal Authority authorizing and approving a loan from FirstBank of Wheat Ridge to purchase land for urban renewal purposes and directing the execution and delivery by the Authority of a promissory note in the original principal amount of $3,285,000, approving documents in connection therewith, and ratifying prior actions. As a result of the executive session, a second addendum became necessary. Corey Hoffinann explained that the addendum is an indemnity by Mr. Karl that none of the leases on the property are more than a month- to-month basis and that the title company will insure any leases that exist in excess of the month-to-month indemnity and affidavlt provided by Mr. Karl. Item B(1)-- It was moved by Rick Adams and seconded by Walt Pettit to approve a second addendum to the contract to buy and sell real estate made this 15In day of April 2008 between Wheat Ridge Urban Renewal Authority and Milloie E. Karl of Bailey, Colorado. The motion passed unanimously. It was moved by Larry Schulz and seconded by James Bahrenburg to approve resolution No. 4-2008 A resolution of the Board of Commissioners of the Wheat Ridge Urban Renewal Authority authorizing and approving a loan from FirstBank of Wheat Ridge to purchase land for urban renewal purposes and directing the execution and delivery by the Authority of a promissory note in the original principal amount of $3,285,000, approving documents in connection therewith, and ratifying prior actions. The motion passed 6-1 with Tom Radigan voting no. WRURA Minutes - 2- April 15, 2008 (The regular meeting was recessed at 7:02 p.m. and reconvened at 7:16 p.m.) C. Next steps in the 44th Avenue and Wadsworth Boulevard redevelopment plan - Rob Osborn Patrick Goff invited Rob Osborn to address the Authority regarding the next steps to be taken in the 44"' and Wadsworth redevelopment plan. Wheat Ridge 2020 would act as WRURA's agent for the redevelopment to advertise the property. Mr. Osborn congratulated the Authority for taking the step to purchase the property at 44`h and Wadsworth. To promote redevelopment of this site, he and a team of WR2020 and City employees will attend the International Shopping Center Conference (ICSC). WR2020 will investigate all resources for redevelopment of the site in order to give recommendations to WRURA. It is proposed to rezone the 44t" and Wadsworth area. Nearly all of the property owners in the area have been contacted and all are supportive of a rezone. WR2020 would initiate the rezone. Planned Mixed Use Development is being considered. Developers would be requested to form a metro district. WR2020 is working with professors from Denver Univcrsity to provide some vision for the area that would be consistent with the Wadsworth Subarea Plan. In response to a question from Walt Pettit, Mr. Osborn stated tbat he has not yet held discussions with residential property owners on the east side of Upham Street. Rick Adams commented that WRURA is not interested in taking any property but simply selling what it already has. Mr. Osborn stated that meetings have been held over the last several months with developers who have expressed excitement about the commitment made by WRURA. He suggested that an agreement be drafted that outlines ways WRURA and WR2020 would work together in development of the area. In response to a question from Tom Radigan, Mr. Osborn stated that WR2020 has been working with five developers for the area. He explained that attendance at the ICSC will not only be to promote the 44`h and Wadsworth area but several other areas in the city. There was a consensus to have a draft legal agreement drawn up regarding relationship between WRURA and WR2020 in redevelopment of the 44`h and Wadsworth area. WRURA Minutes - 3- April 15, 2008 D. ADJOURNMENT "I`he meering was adjourned at 7:50 p.m. Terrell R. Williams, Chair Ann Lazzeri, Recording Secretary WRURA Minutes - 4- April 15, 2008 Wheat Ridge Urban Renewal Authority 7500 W. 29th Avenue Wheat Ridge, Colorado 80033 303235-2846 303-2352857 (Fau) TO: Urban Renewal Authority Members FROM: Patrick Goff, Executive Director RE: WZ-08-02 - Shaw Sign for United Presbyterian DATE: Apri128, 2008 The Community Development Departrnent has received the attached request for approval of an amended Planned Residential Development (PRD) Outline Development Plan (ODP) for the Highlands West development located at 6340 W. 38t' Avenue (Attachment 1). The amended ODP will allow the property owner to erect a lazger freestanding sign. The proposed sign would have 60 square feet of sign face per side and be 10 feet in height. The City's Zoning and Development Code requires the review by WRURA of land use applications in an urban renewal area. The Code requires a recommendation from WRURA based on its review of the application "against the provisions of the urban renewal plan with respect to the land area, land use, design, building requirements, timing and procedure." You are not making a recommendation on whether the request should be approved or not. Your task is to determine if the request is in compliance with the 38`" Avenue Redevelopment Plan. Your finding will be one factor to be considered in the approval process. The 38`h Avenue Redevelopment Plan references many of the goals and policies of the comprehensive plan in effect at the time the Redevelopment Plan was adopted in 2001. These goals and policies can be characterized as creating a"gateway" and "main streeY" defined as being the center of cultural, entertainment and economic activity, accessible by vehicle, transit and pedestrian, and identified by the inclusion of certain urban design elements. Additional objectives of the 38`h Avenue Redevelopment Plan are as follows: • To promote a mixed-use development pattem designed to service the surrounding neighborhoods and community, to include a balanced mix of residential, retail and service businesses. 0 To improve pedestrian and vehiculaz circulation and safety. • To minimize pedestrian and vehiculaz conflicts. • To encourage retention and enhancements of existing businesses while creating opportunities for new complimentary uses. • To encourage new development and redevelopment that is compatible in scale and design with the existing character of the Redevelopment Area. The accompanying Land Use Concept Plan adopted as part of the Urban Renewal Plan establishes the recommended uses for 38`h Avenue (Attachment 2). This particulaz azea is shown as a mixture of auto-oriented businesses and residential conversions and uses. Recommended Findings: The request has no material effect on the 38`h Avenue Redevelopment Plan Community Development 7500 West 29th Avenue - Wheat Ridge, Colorado 80033 303.235.2846 Fax:303.235.2857 The City of Wheat Ridge Community Development Referral Form Date: April 18, 2008 Response Due: May 2, 2008 The Wheat Ridge Community Development Department has received a request for approval of an amended Planned Residential Development (PRD) Outline Development Plan for the Highlands West development located at 6340 W. 38th Avenue. No response from you will constitute having no objections or concerns regarding this proposal. Case No.: WZ-08-02/ Shaw Sign for United Presbyterian Request: Approval of a Planned Residential Development (PRD) amended Outline Development Plan. The amended ODP will allow the property owner to erect a larger freestanding sign. The proposed sign would have 60 s.f of sign face per side and be 10' in height. Please respond to this request in writing regarding your ability to serve the property. Please specify any new infrastructure needed or improvements to existing infrastructure that will be required. Include any easements that wiil be essential to serve the property as a result of this development. Please detail the requirements for development in respect to your rules and regulations. If you need further clarification, contact the case manager. Case Manager: Meredith Reckert Voice: 303.2352848 Fax: 303.235.2857 Email: mreckert@ci.wheatridge.co.us DISTRIBUTION: Wheat Ridge Public Works Wheat Ridge Building Wheat Ridge Police Wheat Ridge Economic Development Wheat Ridge Urban Renewal Wheat Ridge Fire District The Carnation Citv" SHAW SIGN WNING, INC, d01 S.W, FRONTAGE ROAD, FORT COLLINS, CO 80524 (970) 493-6244 Fr1X (970) 493-6288 Flpril 14, 2008 City of Whea[ Ridge, Colorado 7500 W est 29" Avenae Wheat Ridge, CO 80033 Attn: Meredith Reckert, AICP Senior Planner KE: Final Planned Development Amendmen[ for Highlands South Planned Residentiai development, located at 6340 West 38'h Avenue, aka Highlands West Apartments. Owner. United Presbyterian Association 6340 West 38'' Avenue Wheat Ridge, CO 80033 Lisa Brown, Property Mgr. Proposed Chanae to Final Planned Develooment The applicant is requesting to amend the exis[ing Final Planned Development Plan for the Highland South Planned Residential Developmen[, to allow the installation of one (I) new in[emally illuminated freestanding double face sign to the northeast comer of the property [hat would not comply wi[h Section 926-410 (d)(2) and Section 426-41 (d)(4) of the City of Wheat Ridge municipal code to replace an existing freestanding sign in approxima[ely the same location. The requested new sign would adhere to all other sections of the Wheat Ridge municipal code including setbacks from the adjacent properties and Street Right-of-Ways and be displayed in a landscaped area. Ac[ual Setbacks will be 17'-0" from West 38'h Avenue (adjacent to the north proper[y line) and 21'-0" from the private drive located on the east side of the subject property. Further, [his request asks for an allowance of up to a maximum of 64 square feet per face vs. the allowed 32 square feet per face, and an increase in height [0 10'-4" vs. the allowed 6'-0" height restriction. Lastly, we respectfully reques[ the allowance of one (1) single face elechonic time and temperature sign of approximately 3.75 square feet per face to the proposed sign. We the petitioners do not foresee the gran[ing of this request creating any traffic and/or public safety problems; in fact we feel it will have the opposite effecL Proper[y management has had multiple complaints from visitors to the proper[y s[a[ing tha[ they were not easily able to locate the proper[y when looking for the current signage. The proposed sign will be easily visible, helping [o facilitate better communication between people and their surrouodings, and therefore allowing the Flow of traffic to remain constant and uninterrupted. We also feel that the buildings size offers an additional reason for amendment ro be gran[ed. The proposed sign will be proportiona[e to the building which we unders[and is the tallest housing structure within the ciry. In addition, the sign will conserve the character and economic value of the buildings and neighborhoods in the City of Wheat Ridge community. We appreciate your consideration, and are hoping this matter can be resolved administratively. Please don't hesitate [o contact us should you have any questions. Best regards, Sarah Loughrey Shaw Sign and Awning Owner Representative HIGHLAND WEST PLANNED RESIDENTIAL DEVELOPMENT ADMINISTRATIVE AMENDMENT #2 FOR LOT 1 BLOCK 1 AN OFFICIAL DEVELOPMENT PLAN IN THE CITY OF WHEAT RIDGE A PART OF THE NE 1i4 MW 114 OF SEC 25, T.3S. R69W, 6TH P.M., CITY OF WHEAT RIDGE, COUNTY OF JEFFERSON, STATE OF COLORADO w Z) Z w TQ L= F- 00 M F- U) w LEGAL DESCRIPTION: LOT I BLOCK 1, HIGHLAND SOUTH A PLAT ON FILE IN THE OFFICE OF THE JEFFERSON COUNTY CLERK AND RECORDER BEING PART OF THE NORTHWEST QUARTER OF SECTION 25, TOWNSHIP 3 SOUTH. RNAGE W WEST OF THE 6` PRINCIPAL MERIDAN MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 25: THENCE S89' 5134'E A DISTANCE OF 1324.49 FEET TO THE NORTHWEST CORNER OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 25: THENCE SOD'05'35'E ALONG THE WEST LINE OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 25. DISTANCE OF 30.00 FEET TO THE POINT OF BEGINNING. SAID POINT BEING ME NORTHWEST CORNER OF SAID LOT I BLOCK 1, HIGHLAND SOUTH: THENCE S00`OS'35'E ALONG THE WEST LINE OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 25, AND ALONG THE WEST LINE OF SAID LOT 1 BLOCK I. HIGHLAND SOUTH. A DISTANCE OF 37000 FEET TO THE SOUTHWEST CORNER OF SAID LOT I BLOCK I. HIGHLAND SOUTH; THENCE S89'S1'34'E ALONG THE SOUTH LINE OF SAID LOT I BLOCK 1. WGWWD SOUTH A DISTANCE OF 331.1 B FEET TO THE SOUTHEAST CORNER OF SAID LOT 1 BLOCK 1. HIGHLAND SOURI SAID POINT ALSO BEING ON THE EAST LINE OF THE WEST HALF OF THE WEST HALF OF THE NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 25: THENCE N00°O5'21 W, ALONG THE EAST LINE OF THE WEST HALF OF THE WEST HALF OF THE EXPLANATION OF THE AMENDMENT NORTHEAST QUARTER OF THE NORTHWEST QUARTER OF SAID SECTION 25. AND ALONG THE EAST LINE OF SAID LOT 1 BLOCK 1, HIGHLAND SOUTH. A DISTANCE OF 370.00 FEET TO THE NORTHEAST CORNER OF SAID LOT I BLOCK 1. HIGHLAND SOUTH. THENCE N8WS134 W ALONG THE NORTH LINE OF LOT I BLOCK 1, HIGHLAND SOIRH. A DISTANCE OF 331.21 FEET TO THE POM OF BEGINNING. BASIS OF BEARINGS IS ME NORTH LINE OF THE NORHWEST QUARTER OF SAID SECTION 25. BEING N89-51'34 W SURVEYOR CERTIFICATE: I, MARK D. SCHEAR A LICENSED VWD SURVEYOR IN THE STATE OF COLORADO, DO HEREBY CERTIFY THAT THE A30VE LEGAL DESCRIPTION WAS RENEWD UNDER MY DIRECT SUPERVISION AND THAT THE PROPERTY LINES SHOWN ON THIS SITE RAN ACCURATELY DEPICT THE ABOVE LEGAL DESCRIPTION. BY:. MARK D. SCHFAR, RS 18745 FOR AND ON THE BEHALF OF TIMBERLINE LAF~D SURVEYING CO. xobrzrw Imm ~_.Frormw-....--~ _ 9m._......_ .i' ~'ucwaurorlAFAworw ~ Ams sASNe+r '9vwAlFACamcr EAxFerttFrnuwq unwrmncswr R n 1 - - . OWNER'S CERTIFICATE 20'DRAINAGE N) 29 CIRCULATION& EASEMENT EMERGENCY ACCESS EASEMENT sdos 9rE 9xlm SITE PLAN THE INTENT OF THIS AMENDMENT IS TO INCORPORATE A NEW DOUBLE FACED 60 SQ. FT (PER SIDE) INTO THE EXISTING FINAL DEVELOPMENT PLAN. NEW SIGN IS 10.4- TALLX 10'8 WIDE & FEATURESAN ELECTRONIC TIME & TEMP DISPLAY ON BOTH FACES OF APPROXIMATELY 4 SQ. FT (PER SIDE). SITE DATA TABLE EXISTING PROPOSED 6v¢MIGi001PWAT -F. ~ ANRSS.F PAVm AA&5 ryxluowOtAxaoxr9r m1wsF. FIRVJOflA46 ~fAVEfC➢ µ row.sFrEAVA smas.F. miALNUgs1AfiE.A 9S. F.(F~A FACE) NS F.IPEA FACET ilE~Ow9NimutrB)94b0.1£64LY [E9WwimA!i11119)i1FATf,o016~YA}TEMVTEN51ffAlrlCdllY [EgABm1¢RdN1L BEOF9691A9Aft!HflrIrOEYflOFYF1.'fNKIXWNMZMINMtAY.?,PE91wCrMN6ADD]MYM6 CA'IM81NM6RMlAW Ai WY 01~61S1E9EPE0.Nm6ftur IKVNFUm6 ftIDCr~liMiTEMNw'NOFIIRAVB4ENtmAMYRY9[n@rIF1ANttE9rpF tlE.1hAK3t®iPol'9i1Y103M.lTStEUVPWFARb]M9wYCNYWIRNDACp6E MNWlf m11fiWT9P8ff wsm vxore+rr ~ .wrs wr wr.asPUO Aawrt nNaw+r m r~ ~wn>~ n gcmx xm a>x: vertu ~E as a w~s ENwrnwaN.Amrt corm Fms9rrexNN Axwatr~on r~ vnu+o»EarArvxtNFF+Fs e9aw.9NNaanrE whaxnac comun srAreaFCaraAOa 1 cunrcasFFixx.a+ }u Th£fgE90NO WA9ALppMmPD9FFpiE MECNiM9_N.YOf AdAT BY wfMF89 FrYxW ~MYU 1.9EAL Nx glW9iW EYnPE9--- F~ANYr,>a~4 - - CITY CERTIFICATION CASE HISTORY cuEraa~swzma wmwmiws_onra_,m9r, er FNE arr oFxNUrwocE waxipo~o) I vaauet'FPOOVmwa~roPnel ATTEST wroA w~ianmaEUe:EetoAacwwmnYOEYaraue+r N COUNTY CLERK AND RECORDER'S CERTIFICATE a 9rAlE ()FCDIdtADO 7 CgMtY OF l3F9i El4 I rxmmrrenuYlw,rmmnANwAS FrFnwrvcaFUCEaFrF~ACaartrc~FacuopFwtann aF.oFF~ea+axurcu 9a9& oxaWmu _ omuc_u a+rr+E _I)tt n my A o, m NBDa( %GE IiEC£PI4~N 1p. A RiFP9CN DYMtYIXFNtA~OREWPDEA I3 SURVEYOR'S CERTIFICATE m~.BLOCKt OFWa WNSOUIX 4JBCNWIOIrMIASFflh14'®UANNf dRFCfYFNNSNw Am TwriHF~C~r~ FPOP911Y tNF9 &NTtN IX11K8 911E FI/11ICCIJPAiBY OfNf:f fME AB W E LW K OE6PIPFKM pYNMtO 6PIFIRRB IBIN - PROPOSED SIGN 0 U U z Z Z J Q ' N - J ~ 0 z ~ _ z 7 0 Q 0 ~ w W Z /11 q ~ V \J U) Z 0 d ~ < L M ~ Q 2 J F!J l~ Q m ZO W° Ste. o f- 0 fyv WCp O F- Z W Q v! > ~W w> W d W OoQ ~z H WQm ~JF- WZrn~ Z V Zv 4 a= SHEET l OF 1 Of 00 00 go ZA A O 011 011 OV, O w tr Gateway/Entry Possible Civic Feature Presence Activity Gateway/E t"Y Feature Proposed Streetscae Im rci-,rr:e is to ) i Cf 0 Z " l ' r f tea-- ( ! ~ ..}F`~ , Community Comm] ~L Node ~~9Yl3~ier~1a~ hod Y77 P~. j Jf 4j 9 X93 A y ag; N a+ is 1, n UI ~ ~ Strong Ala19 h b or ood 'Residential - 62fited Neighborhood Oriented Commercial Mixture of Auto-Oriented :.',7 ness and es derrt~a ° i ~z . y Uses Focus siness _ Pedestrian scale Restaurants and Specialty Retail Mixture of scalesfo and pedestrian) d land uses Pedestrian kale 1 200 900 Figure 2 38th AveTau-- Land Use Concept plan Wheat Ridge Urban Renewal Authority 7500 W. 29th Avenue Wheat Ridge, Colorado 80033 303235-2846 303-235-2857 (Fax) TO: Urban Renewal Authority Board Members FROM: Patrick Goff, Executive Directo&)~ RE: Representation Agreement DATE: May 1, 2008 Consensus was reached at the April 15, 2008 WRURA meeting to have a draft legal agreement drawn up regarding the relationship between WRURA and WR2020 in redevelopment of the 44`h and Wadsworth azea. Attached is a draft Representation Agreement drafted by legal counsel. WRURA will maintain all rights to make final decisions relating to the redevelopment of the Property and WR2020 shall have no authority to legally bind WRURA contractually or otherwise under this Agreement. A copy of the Agreement was sent to WR2020 for review and comments Attachments: 1. Draft Representation Agreement WHEAT RIDGE URBAN RENEWAL AUTHORITY RESOLUTION NO. 5 Series of 2008 TITLE: A RESOLUTION APPROVING A REPRESENTATION AGREEMENT BY AND BETWEEN THE WHEAT RIDGE URBAN RENEWAL AUTHORITY AND WHEAT RIDGE 2020 WHEREAS, the Wheat Ridge Urban Renewal Authority (WRiJRA) owns real property located at 7340 and 7540 West 44`h Avenue (Property) which WRURA has determined is in need of redevelopment and WHEREAS, to facilitate the redevelopment of the Property, WRtIRA desires to contract with WR2020 to act on WRURA's behalf in planning, marketing, and managing the redevelopment; and WHEREAS, the Parties hereto wish to memorialize their agreemenC as to various aspects of the redevelopment of the Property and thereby set forth their various and respective duties and responsibilities in connection with such development. NOW, THEREFORE, BE IT RESOLVED by, the Wheat Ridge Urban Renewal Authority as follows: The Representation Agreement by and between the Wheat Ridge Urban Renewal Authority and Wheat Ridge 2020 be approved. ADOPTED the _ day of May , 2008. WHEAT RIDGE I JRBAN RENEWAL AUTHORITY Chairman ATTEST: Secretary to the Authority C.\Documents and Se[[ings\kFieldV_ocal Scttinps\Temporaiy Intemet FilesV0LK56A080506 Represenwtion Agreement Res-Aoc REPRESENTATION AGREEMENT THIS AGREEMENT is made and entered into this day of , 2008, by and between the Wheat Ridge Urban Renewal Authority ("WRURA"), a body corporate and politic of the State of Colorado, with an address of 7500 W. 29th Avenue, Wheat Ridge, CO 80033, and Wheat Ridge 2020, a Colorado nonprofit wrporation, with a business address of 4350 Wadsworth Blvd., Suite 420, Wheat Ridge, CO 80033, ("WR2020") (each such entity may hereafrer be referred to as a"Party" or collectively as the "Parties"). WITNESSETH WHEREAS, WRURA owns real property described in Exhibit A(the "Property"), which is shown and depicted on the Area Plan, which is attached as Exhibit B, and which WRURA has determined is in need of redevelopment; WHEREAS, to facilitate the redevelopment of the Property, WRURA desires to wntract with WR2020 to act on WRURA's behalf in planning, marketing, and managing the redevelopment of the Property as set forth in this Agreement; WHEREAS, the Parties hereto wish to memorialize their agreement as to various aspects of the redevelopment of the Property and thereby set forth their various and respective duties and responsibilities in connection with such development. NOW, THEREFORE, the Parties hereto, for themselves, their successors and assigns, in and for the consideration of the performance of the mutual duties and responsibilities set forth herein, the receipt and adequacy of such non-monetary consideration being hereby acknowledged, do hereby covenant and agree as follows: 1. WR2020 OBLIGATIONS a. General ObliQations. WR2020 shall complete the following acts on WRURA's behalf: i. Entitlements. Take all steps and prepue all documents, applications, and materials necessazy to prepaze the Property for redevelopment, including applying for and using commercially reasonable efforts to obtain all required land use approvals oF the City Planner, Planning Commission and City Council. All applications shall be approved by WRURA prior to formal submission by WR2020. ii. Marketine. Perform all necessary market studies, contact potential developers, purchasers, and tenants of Property, and prepaze documentation to market the redevelopment of the Property. Attend such conferences and meetings and make such presentations as necessary to promote and market the redevelopment of the Property. iii. Develoument Coordination. Contact adjacent landowners, (including the owners of Big Lot, First Bank, Panda King, Gemini Restaurant, and OS/01/08 U: I Urban Renewa(I WR2020_Representative. doc the Transmission Shop) to seek support for WRURA's land use plans for the Property. iv. Financial Analvsis and Financing. Prepaze comparative market financial analysis for the redevelopment of the PropeRy. Identify possible sources of funding for redevelopment activities. Develop potential incentive packages to encourage redevelopment of Property. v. Additional Pronerty Acquisition. Seek options to purchase the Panda King, Gemini Restaurant, and the Transmission Shop properties. vi. Proposals. Prepaze the solicitation for redevelopment proposals. WR2020 acknowledges that the Colorado Urban Renewal Law, C.R.S. § 31-25- 101, et seq., governs the procedures for redeveloping the Property. The Parties shall comply with the specific notification and competitive bidding procedures set forth in C.R.S. § 31-25-106(2). All documentaYion prepared by WR2020 relating to the bid process shall be subject to approval of WRURA, and the disposal of the Property by WRURA shall only occur pursuant to the provisions set for[h in C.R.S. § 31-25-106(2). WR2020 shall evaluate redevelopment proposals and provide recommendations to WRURA. WR2020 may negotiate with entities submitting such proposals as directed by WRURA; provided that WRURA shall make all final decisions regarding the redevelopment of the Property and the disposal of the Property. vii. Redevelonment Aereement. Wark with WRURA to create a final redevelopment agreement. b. Renorting Obli atg ions. WR2020 shall keep WRURA apprised of its progress and activities related to this Agreement in a timely manner. 2. NO AUTHORITY TO BIND WRURA WR2020 shall have no authority to legally bind WRURA contractually or otherwise, nor shall WR2020 make any statements or take any actions that expressly or impliedly indicate it has such authority. 3. WRURA RESERVATION OF ALL DECISION-MAHING AUTHORITY WRURA reserves any and all rights to make all final decisions relating to the redevelopment of the Property. WR2020 acknowledges this reservation of decision-making authority, and shall present all matters requiring a final decision to WRURA for a decision. Nothing in this agreement shall be construed to be a delegation of any WRURA decision-making authority to WR2020. 4. TERM This agreement shall commence on the date first listed above, and shall continue until terminated by either Party upon written notice. OS/Ol/08 U: I Urban Renewall WR2020_Representa[ive. doc 5. GENERAL PROVISIONS a. Goveming Law and Venue. This Agreement shall be governed by the laws of the State of Colorado, and any legal action concerning the provisions hereof shall be brought in the District Court of Jefferson County, Colorado. b. No Waiver. Delays in enforcement or the waiver of any one or more defaults or breaches of this Agreement by WRURA shall not constitute a waiver of any of the other terms or obligation of this Agreement. C. Inte rag tion. This Agreement and any attached exhibits constitute the entire Agreement between WR2020 and WRURA, superseding all prior oral or written communications. d. Third Parties. There are no intended third-party beneficiaries to this Agreement. e. Relationship of Parties. Nothing contained in this Agreement shall be construed to create the relationship of principal and agent, partnership,joint venture or any other similar relationship between the Parties. £ Notice. Any notice under this Agreement shall be in writing, and shall be deemed sufficient when directly presented or sent pre-paid, first class United States Mail, addressed to: WRURA: Patrick Goff, Executive Director Wheat Ridge Urban Renewal Authority 7500 W. 29th Avenue Wheat Ridge, CO 80033 WR2020: Robert J. Osborn, Executive Director Wheat Ridge 2020 4350 Wadsworth Blvd., Suite 420 Wheat Ridge, CO 80033 g. Severabilitv. If any provision of this Agreement is found by a court of competent jurisdiction to be unlawful or unenforceable for any reason, the remaining provisions hereof shall remain in full force and effect. h. Modification. This Agreement may only be modified upon wdtten agreement of the Parties. i. Assignment. Neither this Agreement nor any of the rights or obligations of either Party shall be assigned without the written consent of the other Party. j. Governmental Immunitv. WRURA, its officers, and its employees, aze relying on, and do not waive or intend to waive by any provision of this Agreement, the - monetary limitations (presently one hundred fifty thousand dollazs ($150,000) per person and six hundred thousand dollars ($600,000) per occurrence) or any other rights, OS/O1/08 U: I Urban Renewall WR2020_Representa[ive. doc immunities, and protections provided by the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq., as amended, or otherwise available to WRURA and its officers or employees. k. Riehts and Remedies. The rights and remedies of WRURA under this Agreement aze in addition to any other rights and remedies provided by law. The expiration of this Agreement shall in no way limit WRURA's legal or equitable remedies, or the period in which such remedies may be asserted, for work negligently or defectively performed. IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the date first set forth above. WHEAT RIDGE URBAN RENEWAL AUTHORITY By: APPROVED AS TO FORM: Corey Y. Hoffinann, Authority Attomey WHEAT RIDGE 2020, INC. By: STATE OF COLORADO COUNTY OF ) ) ss. ) The foregoing instrument was subscribed, swom to and acknowledged before me this day of , 2008, by Robert J. Osborn as Executive Director of Wheat Ridge 2020 My commission expires: (SEAL) Notary Public 4 OS/0I/08 U: I Urban Renewall WR2020_Representatrve. doc EXHIBIT A Legal Description of the Property The West 1/2 of the Northeast 1/4 of the Northwest 1/4 of the Southeast 1/4 of Section 23, Township 3 South, Range 69 West of the 6th P.M., Except the North 30 feet, in use as West 44th Avenue, Except the East 25 feet in use as Upham Street, Except the East 125 feet of the North 130 feet thereof and Except that portion conveyed to the City of Wheat Ridge in Deed recorded June 30, 1987 at Reception No. 87085220, County of Jefferson, State of Colorado. The North 134 feet of the South 2723 feet of the East 8.45 feet of the East '/z of the Northwest of the Northwest Y< of the Southeast '/4 of Section 23, Township 3 South, Range 69 West of the 6`h P.M., County of Jefferson, State of Colorado. Lot 3, Time Squaze Subdivision, Except that portion of said Lot 3, lying South of the Northerly line of Lot 1, Time Square Subdivision as if extended from the East line of said Lot 1 to the West line of said Lot 1, which line bears South 89° 55' 50" West and which is the South line of the Northwest 1/4 of the Northwest 1/4 of the Southeast 1/4 of Section 23, Township 3 South, Range 69 West of the 6th P.M., and Except a parcel of land being a portion of Lot 3, Time Squaze Subdivision, being more particularly described as follows: Beginning at the Northwest corner of said Lot 3, Time Squaze Subdivision, thence North 89° 56' 20" East, along the North line of said Lot 3, a distance of 195.00 feet; thence South 00° 02' 46" West, a distance of 32.25 feet; thence North 89° 56' 20" East, a distance of 133.54 feet to a point on the Easterly line of said Lot 3; thence South 00° 02' 46" West, along said Easterly line, a distance of 55.92 feet; thence leaving said Easterly line, South 89° 56' 20" West, a distance of 328.67 feet to a point on the Westerly line of said Lot 3; thence North 00° 03' 46" East, along said Westerly line, a distance of 87.57 feet to the Point of Beginning, County of Jefferson, State of Colorado EXHIBIT B Area Plan