HomeMy WebLinkAboutResolution 2012-0049CITY OF WHEAT RIDGE, COlORADO
RESOlUTION NO. 49
Series of 2012
TITLE: A RESOLUTION AUTHORIZING THE EXECUTION OF AN
AGREEMENT WITH WALRUS 5560 FOR PARTICIPATION IN
THE ENHANCED SAlES TAX INCENTIVE PROGRAM (ESTIP)
REBATING 25% OF THE ENHANCED SAlES TAX FOR A
PERIOD OF THREE YEARS FOR THE CONSTRUCTION OF A
RESTAURANT AT 5560 W. 29TH AVENUE
WHEREAS , the City has adopted as a portion of the Wheat Ridge Code of Laws
("Code") Chapter 22. Division 4, "Enhanced Sales Tax Incentive Program" (the
Program) to encourage , in part, continued development and expansion of opportunities
for employment in the private sector in the City: and
WHEREAS , Walrus 5560 (O wner) has applied to participate in the Program and
a public hearing was posted and conducted; and
WHEREAS, Owner is the owner and operator of leasable space and
im provements thereon within the City and is the operator of a commercial development
serving residents of Wheat Ridge and surroundi ng communities ; and
WHEREAS, Owner plans to construct public improvements of approximately
$850,000 and a total project budget of approximately $1 ,000,000; and
WHEREAS , the project enhances services to the neighborhood and neighboring
communities and brings revenue to the City from surrounding communities-a true
definition of economic development; and
WHEREAS ; the project creates up to 25 full and part-time jobs, and
WHEREAS ; the project spurs reinves tment through remodel ing and new
construction of a blighted structure, thus enhancing and preserving its economic viab ility
in the City; and
WHEREAS, cost-sharing at the rate presc ribed herein will serve to aid the
expansion of Owner in that it will alleviate a portion of the costs associa ted with the
expansion .
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Wheat Ridge, Colorado
An Agreement to participate in the City of Wheat R idge Enhanced Sales Tax
Incentive Program with Walrus 5560 is hereby approved wherein 25% of
enhanced City sales tax generated by the project for a period of three years will
be rebated to Walrus 5560.
DONE AND RESOLVED this 241
h day of Septembe 2012 .
/_ I 0 \'MU\
Jer
AGRt:DIE~T Pl:RSh\:\T TO E~HA~CE:D SALF.S TAX INCE:!'\TI\'E PROGRAM
This Agreement Pursuant To Enhanced Sales Tax Incentive Program (this .. Agreement")
is made and entered into as of the 241
h day of Septemher. 2012. by and between WALRUS 5560
LLC located at 730 Kalamath Street. Dl;!nver. CO 80204. hereinafter referred to as the --o~ncr"
and the CITY OF WHEAT RIDGE. COLORADO. hereinafter referred to as the .. City:·
collectively the "Parties:· and each individually. as a "Party."
RECITALS:
Whereas, the City has adopted Chapter 22. Article I Division 4 of the Wheat Ridge Code
of Laws, entitled the Enhanced Sales Tax Incentive Program (the "ESTIP Program"). a copy of
which is attached hereto as Exhibit A, to encourage. in part. the establishment of retail sales tax
generating businesses within the City: and
Whereas. the Ov.ner desires to participate in the ESTIP Program and to share in the
enhanced sales tax derived from the property dcscrihed as a Restaurant. generally loc.:ated at 5560
W. 291
h Avenue in Wheat Ridge, Colorado and more particularly described in Exhibit B.
attached hereto and incorporated hy this reference (the "Property"), for the installation of Public
Improvements described in Exhibit C. attached hereto and incorporated by this reference (the
"Public Improvements'') to the extent allowed by this Agreement and the ESTIP Program.
NOW. THEREfORE. in consideration of the foregoing premises and the covenants.
promises. and agreements of each of the Parties hereto. to be kept and perfonned by each of
them. the Parties agree as follows:
1. Recitals. The Recitals set torth above are incorporated in this Agreement by
reference.
2. Term. The tenn of this Agreement shall commence on the first day of the
calendar month following the month in which the Owner receives its Certificate of Occupancy
on the Property (the "'Commencement Date") and shall tenninate three (3} years thereafter.
unless earlier tem1inated as otherwise provided in this Agreement (the "'Tcnn'').
3. Application of City Code. This Af:.'Teement is subject to the limitations of the
ESTIP Program. as found in the City of Wheat Ridge Code of Laws. In the event of conflicts
bet\veen this Agreement and the ESTIP Program. the ESTIP Program shall~:ontrol.
4. Qualification of Property for the ESTIP Proe.ram. The City agrees that the
Property qualifies for the ESTIP Program and the Public Improvements arc improvements for
public and/or public related purposes that will stimulate the economy of and within the City.
provide employment opportunities for residents of this City and others, expand the goods
available for purchase and consumption by residents of the City. and increase sales taxes
collected by the City. The City finds the business is reasonably likely to generate enhanced sales
taxes of One Hundred Thirty-Five Thousand ($135.000) over the full term of this Agreement.
The following provisions shall apply for each year in which the ESTlP Program is in eftect for
the Property:
a. Twenty Five percent (25%) of the ··Enhanced Sales Ta."<cs" collected by the City and
derived from the Property {the "Allocated Revenues'') shall be segregated by the City to
be utilized for the ESTIP Progrmn herein established and approved. For purposes of this
Agreement "Enhanced Sales Taxes" shall have the meaning set forth in the ESTIP
Program at Section 22-75 ofthe Wheat Ridge Code of Laws.
b. The excess of collections in each year above the base amount shall be the Enhanced Sales
Taxes for that year. The actual amount of sales taxes collected on the Property during the
period for 12-months preceding the issuance of a certiticate of occupancy by the City of
Wheat Ridge will be considered the "base amount".
c. The 0\\-ner shall share in the Enhanced Sales Taxes derived from the Property and the
busi ness located thereon by the payment to the Owner of the Allocated Revenues as
provided herein.
d. The Allocated R~venues shall be disbursed to the 0~ATJer on an annual basis , tollowing
the collection of sales taxes collected on and aft er the Commencement Date. The
maximum period of time that this Agreement shall be in em~ct shall for three (3) years.
commencing on the Commencement Dnte.
e. This Agreement is a personal agreement between the City and the Owner and does not
run with the Owner's property interest in the land. The obligations. benefits and/or the
provisions of this Agreement may not be assigned in whole or in part without the express
authorization of the City CounciL acting in its sole and exclusive discretion and no third
party shall be entitled to rely upon or enforce any provisions herein. Notwithstanding the
foregoing, Owner may assign its interests in this Agreement to an affiliate or to a
successor by consolidation. For the purposes of this Paragraph. an atliliate means an
entity which controls. is controlled by. or is under common control with the Owner. This
Agreement shall never constitute a debt or obligation of the City within any constitutional
or statutory provision.
f. The Allocated Revenues subject to the Agreem~nt shall be escrowed in the ~\'ent there is
a legal challenge to the ESTI P Program or to the approval of this Agreement.
g. At the end of the Term ofthis Agreement. any monies segregated by the City which have
not been expended as hereunder provided may be transferred to another account of the
City or used in a manner determined by the City in its sole discretion. excluding any
amounts escrowed under Paragraph 4 .f above.
h. As a precondition to the payment to Owner of any Allocated Revenues. , the Owner shall
first s ubmit paid invoices to the City. for the City·s review and approval as documenting
that the Ov.-ner has fully and completely constructed all of the Public Improvements
described on Exhibit C. Each in\'oice presented to the City by the Ov.11er s hall be
accompanied by an affidavit or other supporting documentation from the general
contractor stating:
1. that said improvements have heen substantially completed pursuant to
plans and specifkations approved hy the City through the issuance of
pennits and site plan approvals by the City in the ordinary course: and
11. that the 0\\ner has paid the full amount specified on the invoice.
t. The 0\\ner shall be deemed the ··owner or proprietor .. of the Propeny tor the purposes of
this Agreement and the ESTIP Program. whether or not the 0\'<ner owns all or any
ponion of the Property at any relevant time. sin~e the Owner is coordinating the
installation of the Public lmprovements.
S. City's Budeet Process. Each year, the City Manager shall include in a budget
presented to the City Council pursuant to Chapt~r X. Sec. 10.2 of the Wheat Ridge Home Rule
City Charter. the appropriation of the Allocated Revenues tor payment to tht! 0\\ner as provided
in this Agreement. Nothing in this Agreement shall be construed as obligating the City Council
to appropriate the Allocated Revenues in any tiseal year.
6. No Debt or Pecuniarv Liability. Notwithstanding an)thing in the Agreement to
the contrary. the Agreement is specifically suhject to annual appropriation of sutlicient funds to
pay the Allocated Revenue as prO\·ided in the ESTJP Program. No multiple year tiscal
obligation is created hereby. The decision of the City Council not to appropriate funds in any
given year shall not affect. impair or invalidate any of the remaining provisions of this
Agreement. None of the obligations of the City hereunder shall he payable from any source
other than Enhanced Sales Taxes.
7. Subordination. Notwithstanding anything in this Agrt:ement to the contrary. the
Owner shall have no right. claim. lien. or priority. in or to the City's sales tax revenue that would
be superior to or on parity with the rights. claims. or liens of the holders of any sales tax revenue
that would be bonds. notes. certificates. or debentures payable from or securt"d by any sales
taxes. outstanding as of the Enective Date of this Agreement. All rights of the 0\.\ner are. and at
all times shall be. subordinate and inferior to the rights. claims and liens of the holders of any
and all such sales tax revenue bonds. notes. ceniticates. or debentures. issued by the City and
payable from or secured by any sales taxes.
8. Np Covenant to Construct or to Open. The intent of this Agreement is to
provide for Owner's panicipation in the ESTIP Program. in the event that Owner constructs the
Public Impro\'ements. Notwithstanding any provision in this Agreement to the ~ontrary. 0\\ner
shall have no obligation under this Agreement to construct the Public Improvements, and in that
event. the City shall have no obligation to share any of the Enhanced Sales taxes with Owner.
9. Remedies. The Owner waives any constitutional claims against the City arising
out of a breach of this Agreement. The Owner's remedies against the City under this Agreement
art! limited to breach of contract claims. ln no event shall the Owner be entitled to a claim, nor
shall the City be liable for. any special. exemplary. punitive or consequential dam ag es of any
kind. including economic damages or lost profits.
10. Severabilitv. It is understood and agreed hy the Panil.!s that if any pan. tenn or
provision of this Agreement is held by the courts to he illegal or in conflict with any law of the
State of Colorado. the validity of the remaining portions or prO\ isions shall not be affected. the
rights and obligations of the Parties shall be construed and enforced as if the Agreement did not
contain the particular part. term or provision held to be invalid. and the Parties shall cooperate to
cure any legal defects in the Agreement or the ESTIP. Should the allocation of the Enhanced
Sales Tax. or the payment of the Allocated Revenues be judicially adjudged illegal, invalid or
unenforceable under the present or future laws ctTcctive during the Term of this Agreement by a
court of competent jurisdiction in a tina!. non·appealablc judgment, the Parties shall utilize their
best. good faith eflorts to restructure this Agreement or enter into a nc,.,.· agreement consistent
with the purposes of this Agreement. Should tbc Parties be unsuccessful in their efforts. the
Agreement shall terminate without penalty or recourse to the City.
ll. Go,·erning Law. The Jaws of the State of Colorado shall govern the validity.
perforn1ance and enforcement of this Agreement. Should either Party institute legal suit or
action for enforcement of any obligation contained herein, it is agreed that venue of such suit or
action shall he proper and exclusive in the district court for .ldTerson County. Colorado.
12. Notices. All notices required or permitted under this Agreement shall be in
writing and shall bt: hand delivered or sent by certifit:d mail: return rl!ceipt requested. postage
prepaid. to be addressed to the Panies set forth below. All notices so given shall be considered
effective upon the earlier of the actual receipt or seventy-two (72) hours after deposit in the
United States Mail with the proper address. Either Party by notice so given may change the
address to which future notices shall be sent:
Notice to the City:
Copy to:
Notice to the Ownt:r:
City Manager
City of Wheat Ridge
7500 W. 291h Avenue
Wheat Ridge. CO 80033
City Attorney
City of Wheat Ridge
7500 W. 29th A venue
Wheat Ridge. CO 80033
Bud Starker
Walrus 5560 LLC
730 Kalamath Street
Denver. CO 80204
13. Entire Agreement -Amendments. This Agreement embodies the whole
agreement of the Parties. There are no promises. terms. conditions. or obligations other than
those contained herein and this Agreement shall supersede all previous c.:ommunieations.
representations or agreements. either verbal or written. between the Parties hereto. This
Agreement may be an1ended only by written agreement between the 0\-vner and the City acting
pursuant to City Council authorization.
14. Effecti\•e Date. This Agreement shall be effective and binding upon the Parties
upon the date first set forth above. Notwithstanding any provision of this Agreement which may
be interpreted to the contrary. in the event that Owner does not acquire title to the Property and
construct and make improvements to the Property on or before June 30. 2013. then upon notice
by the Owner to the City. this Agreement shall tenninate and both Parties shall be relieved of all
liability hereunder.
IN WITNESS WHEREOF. Owner and City have each caused thi s Agreement to be executed by
the authorized Parties .
State of Colorado )
) ss.
County of Jefferson )
OWNER
William J. Starker
Manager
The foregoing Agreement was acknowledged before me this .3rt.! day of Odo ~ r , 2012. by
William J. Starker as Manager of Walru s 5560 LLC.
WITNESS MY HAND AND OFFICAL SEAL.
My Commission expires: uzjD :-J )JOI '")
Notary Public
BRUCE A R OOMF
NOTARY PU BLIC
STATe OF COlOR A•
NOTAR Y 10 I 20 02 ~1r: "f.
MY COMMISSION EXPIRE S ;,1, ._ 2014
ATT EST:
e: Janelle Shaver
le : City Clerk
State of Colorado
) ss.
County of Jefferson )
Name: e
Title:
The foregoing Agreement was acknowledg~d before me this J/'~ day of )¥( lt "t .. ;{i . 20l.l_.
by Jerry DiTullio as Mayor and Janelle Shaver as City Clerk, respectively. of the City of Wheat
Ridge. Colorado.
Win-JESS MY HAND AND OFFICAL SEAL.
My Com mi ssion expires: ---..:'-::....:..:.·'~+1-L....!.1+f:._)L..:...;_1 1_1 __ .,
Notary Public
,·) ,
[1 ~!fl. // £ ' Y' . / ''h. L• I '1(
BRUCE A . ROOME
NOTARY PUBLIC
STATE OF COLORAOO
NOTARY 10 I 20024025588
MY COMMISSION EXPIRES AUGUST 08 2014
EXHlBJT A
Ordinance 2001-0S
The Enhanced Sales Tax Incentive Program
(The .. ESTIP Program'')
Sec. 22-73.-Prof!ram cMablished.
There is hereby established within the cit) an enhanced sales tax incentive
program .
See. 22-7-t.-Purpose.
The purpose of the enhanced sales tax incenti-...e program created by this division
is to encourage the establish ment and/or substantial expansion of retail sale s tax
generating businesses within the city, thereby stimulating the economy of and within the
city. thereby providing employment for residents of the city and others. thereby further
expanding the goods available for purchase and consumption by residents of the city. and
further increasing the sales taxes collected by the city. which increa sed sa les ta:\
collections will enable the city to provide expanded and improved municipal serv ices to
and for the benefit of the residents of the city. while at the same time providing public or
public-related improvements at no cost. or at deferred cost. to the city and its taxpayers
and residents.
S<:c. 22-75. -l>cfinitions.
The follo\\ing words. terms and phrases. when use d in thi s division. shall haw
the meanings ascribed to them in this section. except where the context clearly indicates a
different meaning:
Enhanc11d sales tax sh all mean the amount of sales tax collected b} tbe city over
and above a ba se amount negotiated by, and agreed upon by. the applicant and the city.
and which amount is a pproved by the cit)· council, which base amount shall never be
lower than the amount of sa les taxes collected by the city at the property in question in
the previou s twelve ( 12) montbs plus a reasonable and agreed upon percentage of
anticipated increa se in sa les taxes. or. in the case of a newly established husines s. an
amount which represents the good faith detem1ination by the applicant and the city as to
the amount of sales taxes which could be generated from lhe new bu si ness without the
participation by applicant in the ESTIP created under this division.
2
ESTIP means the enhanced sales tax incentive program created under this
division.
Owner or proprietor shall mean the record owner or operator of a n individual
business, or, in the case of a shopping center, the owner of the real property upon \"hich
more than one (I) business is operated, provided that the owner (whether an individual.
corporation, partnership or other entity) is the owner or less or of the individual
businesse s operated thereon .
fOrd No. JIJ,\'8 --5 . .., .. § /t]-1-)J. 5-J].88: Ord .Vo. 12-1. §I. /]-'.1 -0:!J
Sec. 22-76.-Participation.
Parti c ipation in ESTIP shall be based upon approva l by the city council
exercising its le gi slative discretion in good faith. Any owner or proprietor of a newly
e s tabli s hed or proposed retail sales ta.x generating business or location, or the owner or
proprietor of an existing retail sales tax generating business o r locati on which \\ ishes to
expand s ubstantially, may apply to the city for inclusion within the ES TIP provided that
the new o r expanded business is reasonably likely to generate enhanced sales taxes of at
least fi ve thou sand d o llars ($5,000.00) in the first year of operation.
rUrd Xo. I IJlo{,r..,. -58. § I (!.J-.JJ. 5-.!3-XX: Ord. .Vo. /W0-85.J. ,(. 1, l/-2fS-CJO: Ord l'.'o.
IT!.§ I. 1!-Y-O]J
Sec. 22-77. -Approval of a~n!·cment: usc of funds generally.
Approval by the city council of an agreement implementing this ESTIP s hall
entitle the successful applicant to s hare in enhanced saJcs ta).es derived from applicant's
property or business in an amount which s hall not in any event exceed the enhanced sal~s
taxes; provided , however. that applicant may use s uch amounts onl) for public and/or
publi c-related purposes s u ch as those specified herein and which are express!} approved
by the city council at the time of consideration ofthe application. The time period in
w hich the enhanced sales taxes may be shared shall not commence until all public o r
public-related improvements are completed. and shall be limited by the city council, in its
discretion. to a specified time. or until a specified amount is reached .
rOn/. .\o. I CJ88 -':'58. § I r !.J-5J. 5-! 3-N8: Ord .\'o. 100J-11.JfJ. § J. 1-!S-02: Urd :Vo.
12-2 .. f./, I 2-CJ-01,
Se\'. 22-78.-l1se8 enumerated.
The uses to w hich the shared enhanced sales taxes may be put by an applicant
shall be strictly limited to those which are public or public-related in nature. Fo r the
purpos e s of thi s divi s ion , public or public-related purposes shall mean public
improvements. including but not limited to streets, sidewalks, curbs, gutters. pedestrian
malls. s treet lights. drainage facilities. landscaping. decorative structure s. sta tu aries.
3
fountains, identification signs, traffic safery devices. bicycle paths. off-street parking
facilitie s. benches, restro oms. infonnation booths, public meeting facilities. and all
necessary. incidental. and appurtenant structures and improvements, together with the
relocation and improvement of existing uti lit) lines, and any other improvements of a
s imilar nature which are specifically approved by the city council up on the cit)· council's
finding that said improvement are public or public-related improvements. and that su ch
improvements shall enhance the competitive position of the applicant within the Denver
metropo litan area marketplace.
fOrd .Vo. I ()8X· ~J8 .. ~ /f]-1-IJ J. 5-~J-Xx: Ord :\'o. I 1"'2, § I. I !-Y-0-~ 1
s~c. 22-79.-lncrem~nts. sharing offunds.
The base figure for sales ta.,xc s shall be divided into rwelve ( 12) monthly
in crements, which in c rements are subject to agreement betv.'e en the parties. and approval
by the city council, and which inc rem e nt s shall be reasonably related to the average
monthly perfo rmance of the business or property in question , or similar businesses in the
area (i.e . adjust for seasonal variations). If in any month the agreed upon figure is not met
by appli cant so as to create enhanced sales tax for that month , no fund s shall be shared
with applicant for that month, and no increment shall he sh ared until that defic it. ond any
other cumulative deficit, has been met. so that at the end of an) twelve-mo nth cycle.
funds in excess of those enhanced sa les taxes agreed to be shared shall not have been
shared with an~ applicant.
tUrd l'·.'o. /IJ88-~58 .. ~ l f l-1· -,. 5-23-XS: Ore/. No. ~~~~.§I . 1~-'J-fJ~J
St>c. 22·80.-Re\Cnues restricted.
It is an overriding consideration and determination of the city c o uncil that
existing sources of city sales tax re venues shall no t be used. impaired , or otherwise
afTectcd by this enhanced sa les tax incentive program. Therefo re, it is hereby
conclusively detem1in ed that only enhanced sales taxe s generated by the properties
described in an application shall be subject to division under thi s ESTIP. It shall be the
affirmative dul) of the treasurer to collect and hold all such enhanced sales ta)(CS in a
separate acc ou nt apart from the sales taxes generated by and collected from the other
sales tax generating use s and businesses within the city and to provide an accounting
system which accomplis hes the overriding purpose of this section. It is conclu sively
stated by the city council that this divi sion would not be adopted or implemented but for
the provisions of this section .
f Ord. :\'o. /Yi\'8-~5 )). § /e.J-8;, 5-~J-X,I(; On/ ,\'o /!;'!.§I. Jl-1}-{)]J
Sec. 22-81.-Capital imprO\'~ment fund.
The one (I) percent of sales and use taxes eannarked for the capital improvement
fund may be ut ili zed in this ESTIP for public improvements so long as the same are
4
within the meaning of the phrase capital improvements as defined in the voter approved
sales tax referendum previously held within the city. and pro vided that the same are
found and determined by the city council to be capital improvements which could be
provided by the city from the capital improvement fund but for the provision of such
improvements by the applicant; provided. however. that such use of capital improvement
funds as part of thi s ESTIP shall be limited to the amount agreed pursuant to section 22-
83 hereof: provided funher. however. that nothing conrain~d herein shall limit the city
council in the determination to appropriate additional capital improvement fund s fo r
capital improvements affecting the pro peny in questi o n as a part of the city's regular
appropriation and budget process.
rOrd .Vo. ICJ.'iX-.,58 .. ~· Jf2.J-r;J, 5-!3-I:-IX: Ore/. ;\'o. /J';J, §I. 1!-V-011
Sec. 22-82.-Criteria for approval of application.
Approval of an application for inclusion in this ESTIP shall be given by the city
council. at a public hearing held as a ponion of a regularly sched uled city council
meeting, based upon the following criteria:
(I)
(2)
(3)
(4)
(5)
(6)
The amount of enhanced sales taxes which are rea so nably to be
anticipated to be derived by the city through the expanded or new retail
sales tax generating business;
The public benefits which are provided by the applicant through public
works, public improvements, additi onal employment for city re sidents ,
etc;
The amount of expenditures which may be deferred by the city based
upon public improvements to be completed by the applicant;
The confonnance of the applicant's property or project with tht!
comprehensive plan and zoning ordinances of the city;
The agreement required by section 22-83 having been reached. which
agreement shall contain and conform to all requirements of section 22-83
Approval shall be by motion adopted b) a majority ofthe entire city
council.
tUrd .Yo. fiJ,\'8-... 58. § I r 2./-/IJJ. 5~! J~X8: nrd .\'o. I r2. ~,· I . 11-IJ-IJ1J
Sec. 22~83.-Agreement required.
5
Ea~h application for apprO\ a) submitted to the city council sh all be subject to
appro \'al b) the council so lei} on its O\\ n merits. ApprO\ a I of an application shall require
that an agreement be executl!d b~ the cmner and the cit). \\hich agreement shall. at a
minimum. contain:
( I)
(2)
(4)
(5)
(6)
(7)
(8)
A li st of those public or public-related impro-.ements \\-hich justif>
applicant's approvaL and the amount \\ohich sh all he spent on such
improvements;
The ma:<imum amount of enhanced sales taxes to be shared. and the
maximum time during which the agreement shall continue. it being
expressly undNstood that any such agrecmt:nt shall expire and be of no
further force and effect upon the occurTenc e of the earlier to be reached
of the ma>.imum time ofthe agrt:ement (\\hetheror nC'It the maximum
amount to he sha red has been reached) or the maximum amount to be
shared (\\hethcr or not the maximum time set forth has expired);
A statement that this is a personal agreement which is not transferable
and which does not run \\ ith the land;
That thi s agreement shall never constitute a debt or obligation of the cit)'
within any constitutional nr statutory provision;
The base amount which is agreed upon b~ month . and the fact that if, in
an) month as specifi ed. sales taxes rt:ceived from the property do not at
least equal such amount. that there shall he no s haring of funds for such
month :
The base amount shall be agreed upon which shall consider the historic
level of sales at th~ property in question. or a similar property within the
area in the event of a new business. and a reasonable allowance tor
increa sed sales due to the improvements and upgrades completed as a
re su lt of inclusion within this program:
A pro\ is ion that any enhanced sales taxes subject to sharing shall be
escrO\\ed in the event there is a legal challenge to this enhanced sales tax
incentive program or the approval of an) application therefo r:
6
(9)
An affirmath e statement that the obligations. benefits, and/or provisions
of this agreement may not be assigned in whole o r in any part without the
expressed authorization of the city council, and further that no third party
s hall be entitled to rely upon or enforce any provision hereof;
Any other provis ions agreed upon by the parties and approved by the city
council.
fOrd. No. /988--5.\ § /rJ..J -1 II. 5-23-X8: Ord .Yo . 1!~1. § 1. 12-9-IJ]J
Sec. 22-84.-Joint nmture; liabilit~·.
The city council has enacted this ESTIP as a joint benefit to the public at large
and to private owners for the purposes of providing Lhe city with increased sales tax
revenues generated upon and by properties improved as a result of this program; public
improvements being completed by private o"'ners through no debt obligation being
in c urred on the part of the city. and allowing applicants an opportunity to improve
properties which generate sales activities, which improvements make those properties
more competitive in the marketplace and further provide to the applicant additional
contingent sources of revenues for upgrading such properties. The city council
specifically find s and detennines that creation of thi s ESTIP is consistent with the city's
powers as a home rule municipal corporation, and that exercise of such powers in the
manner set forth herein is in furtherance of the public health. safety and welfare.
Notwithstanding any prov ision hereof, the city shall never be a joint venture in any
private entity or accivit)' which participates in this ESTIP, and the city shall never be
liable or responsible for any debt or obligation of any par1icipant in ESTIP .
7
EXHIBIT 8
Legal Description of the Propeny
8
Legal Description per Title Commitment:
Commitment Number: 1484948
effective Date : SEPTEMBER 6, 201 1
LOTS 37, 38, 39 AND 40,
BLOCK 4,
LAKESIDE RESUBDIV1SION OF BLOCKS 1 TO 7 AND THE
NORTH HALF OF BLOCK 8 IN THE ORIGINAL PLA rnON
OF LAKESIDE.
COUNTY OF JEFFERSON,
STATE OF COLORADO.
SURVEYOR'S C£RTIFICA T£:
TO IHOR WOLOBYMYR ct ODARKA MARIA FIGLUS ct
MARIA WOLODYMYRA FIGLUS, WILLIAM J. STARKER
and CJ.IICAGO TITI . .E OF COLORADO, INC.
This is to certify that this mop or plot and the
survey on which it is based were mode in
accordance with the 2011 Minimum Standard Detail
Requirements for ALTA/ASCM Land Title Surveys,
jointly es tabllsh ed and adopted by ALTA and NSPS,
and includes items 1, 4, l(a) Jt b), 8, 9, and 11a
of Table ···~ _ther_e()f._
Standard Notes:
1. Notice: According to Colorado Law you must
commence any legal action based upon any defect
in this survey within three years offer you first
discover such defect. In no event may any action
based upon any defect in this survey be commenced
more thon ten years from the dote of the
certification shown hereon.
2. -Any. person who -knowingly r«noves, -olters or
defaces ony public land survey monument or fond
boundary monument or accessory commits o Closs
Two (2) Misdemeanor pursuant to the Colorado
Revised Statute 18-4-508.
3. This survey does not constitute a tiUe search by
AAA Surveying Services, LLC to determine owner~hfp
or easements of record. For all Information
ardln easements, ri ht-of-wa or title rn ---
EXHIBIT C
QualitYing Public Improvement Cost s
• Two curb cuts. curb and gutter and sidew·alks adjacent to the property.
• A 16-stall parking lot with accessible spaces.
• Demolition of a blighted st ructure on the sit~ for patio and parking areas
• Outdoor seating patio
• Remodel and new construction to remove blight in the area.
9