HomeMy WebLinkAboutResolution 2013-0006CITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO. 06
Series of 2013
TITLE : A RESOLUTION AUTHORIZING THE EXECUTION OF AN
AGREEMENT WITH COLORADO PLUS LIQUID ART WORKS
INC . FOR PARTICIPATION IN THE ENHANCED SALES TAX
INCENTIVE PROGRAM (ESTIP) REBATING 50 % OF THE
ENHANCED SALES TAX FOR A PERIOD OF FIVE YEARS FOR
THE REMODEL OF A RESTAURANT AT 6995 WEST 38TH
AVENUE IN AN AMOUNT NOT TO EXCEED $76,2 00
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 , Colorado Plus Liquid Artworks (Colorado Plus) has appl ied to
participate in the Program and a public hearing was posted and conducted ; and
WHEREAS , Colorado Plus is the owner and operator of a development site that
will serve res idents of Wheat Ridge and surrounding communities ;
WHEREAS . Owner plans to construct public improvements of approximately
$250,000 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 eight full and part-time jobs , and
WHEREAS ; the project spurs reinvestment through remodeling and new
c onstruct1on of a blighted structure , thus enhancing and preserving its economic viability
in the City: and
WHEREAS . cost-sharing at the rate prescribed he rein will serve to aid the
expansion of Owner in that it will alleviate a portion of the costs associated with the
expansion.
NOW, THEREFORE , BE IT RESOLVED by the City Council of the City of Wheat
Ridge , Colorado, as follows :
An Agreement to participate in the City of Wheat Ridge Enhanced Sales Tax
In centive Program with Colorado Plus Liquid Art Works . Inc. is hereby approved
wherein an amount of 50% of enhanced sales tax generated for a period of five
years . not-to-exceed $76 ,200 , will be rebated to Colorado Plus Liquid Artworks
Inc.
DONE AND RESOLVED this 28 1h day of January 20 13.
ATTEST:
AGREEMENT PURSUANT TO ENHANCED SALES TAX INCENTIVE PROGRAM
This Agreement Pursuant To Enhanced Sales Tax Incentive Program (this
·'Agreement") is made and entered into as of the 28th day of January , 2013 , by and
between COLORADO PLUS LIQUID ART WORKS INC., an S-Corporation located at
T il 6995 W. 38 Avenue, Wheat Ridge , CO 80033 , hereinafter referred to as the "Owner"
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 69 -84 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 Owner desires to participate in the ESTIP Program and to share in
the enhanced sales tax derived from the property described as Colorado Plus Liquid Art
Works, Inc., generally located at 6995 W. 38th Avenue in Wheat Ridge , Colorado and
more particularly described in Exhibit B , attached hereto and incorporated by 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 , THER EFORE , in consideration of the foregoing premises and the
covenants , promises, and agreements of each of the Parties hereto , to be kept and
performed by each ofthem , the Parties agree as follows:
1. Recitals. The Recitals set forth above are incorporated in this Agreement
by reference.
2. Term. The term of this Agreement shall commence on the first day of the
calendar month following the month in which the Owner receives their Certificate of
Occupancy on the Property (the "Commencement Date") and shall terminate in five (5)
years , unless otherwise provided in this Agreement (the "Term "). The Term of this
Agreement shall automatically renew for each additional one year period to the extent
required by Section 4( d) hereof.
3. Application of Citv Code. This Agreement 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 between this Agreement and the ESTIP Program , the ESTIP Program shall
control.
4. Qualification of Property for the ESTIP Program. The City agrees that
the Property qualifies for the ESTIP Program and the Public Improvements are
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 at least $125,000 over the full term of this
Agreement. The following provisions shall apply for each year in which the ESTIP
Program is in effect for the Prope11y:
a . Fifty percent (50%) of the "Enhanced Sales Taxes " collected by the City and
derived from the Propet1y shall be segregated by the City to be utilized for the
ESTJP Program herein established and approved (the "Allocated Revenues"). 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 amount of Enhanced Sales Taxes shall be calculated as follows: the actual
amount of sales taxes collected on the Property during the period for 12-monhs
proceeding the issuance of a ce11ificate of occupancy by the City of Wheat Ridge
(the "base amount").The excess of collections in each such year above the base
amount shall be the Enhanced Sales Taxes for that year.
c. The Owner shall share in the Enhanced Sales Taxes derived from the Property
and the business located thereon as provided herein.
d . Enhanced Sales Taxes from the Property shall be shared and the Allocated
Revenues shall be disbursed to the Owner on an annual basis with sales taxes
collected on and after the Commencement Date. The maximum period of time
that this Agreement shall be in effect shall for FIVE (5) years or SEVENTY SIX
THOUSAND AND TWO HUNDRED DOLLARS ($76,200), whichever occurs
first.
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The Term will be automatically extended for one year for up to two (4) additional
one ( 1) year periods.
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 hereon . 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 affiliate 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. Any Enhanced Sales Taxes subject to the Agreement shall be escrowed in the
event there is a legal challenge to the ESTIP Program or to the approval of this
Agreement.
g. At the end of the Term of this Agreement as provided for herein , 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.
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h. The Owner shall be deemed the "owner or proprietor" of the Property for the
purposes of this Agreement and the ESTJP Program , whether or not the Owner
owns all or any portion of the Property at any relevant time , since the Owner is
coordinating the installation of the Public Improvements .
5. City's Budget Process. Each year, the City Manager shall include in a
budget presented to the City Council pursuant to Chapter X , Sec. 10.2 of the Wheat
Ridge Home Rule City Charter, the appropriation of the Allocated Revenues for payment
to the Owner as provided in this Agreement. Nothing in this Agreement shall be
construed as obligating the City Council to appropriate the Allocated Revenues in any
fiscal year.
6. No Debt or Pecuniary Liability. Notwithstanding anything in the
Agreement to the contrary , the Agreement is specifically subject to annual appropriation
of sufficient funds to pay the Allocated Revenue as provided in the ESTIP Program . No
multiple year fiscal 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 be payable from any source other than Enhanced Sales Taxes.
7. Subordination. Notwithstanding anything in this Agreement 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 secured by any sales taxes , outstanding as of the Effective Date of this
Agreement. All rights of the Owner are , and at all time shall be , subordinate and inferior
to the rights , claims and liens of the holders of any and all such sales tax revenue bonds ,
notes , certificates , or debentures , issued by the City and payable from or secured by any
sales taxes.
8. No Covenant to Construct or to Open. The intent of this Agreement is
to provide for Owner 's participation in the ESTIP Progran1 , in the event that Owner
constructs the Public Improvements. Notwithstanding any provision in this Agreement to
the contrary, Owner 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 are limited to breach of contract claims. In no event shall the Owner be
entitled to a claim , nor shall the City be liable for , any special , exemplary, punitive or
consequential damages of any kind , including economic damages or lost profits .
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10. Severability. It is understood and agreed by the Parties that if any part,
term or provision of this Agreement is held by the courts to be illegal or in conflict with
any law of the State of Colorado , the validity of the remaining portions or provisions
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 , tenn 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 effective during the Term of this Agreement by a court of
competent jurisdiction in a final , non-appealable judgment, the Parties shall utilize their
best, good faith efforts to restructure this Agreement or enter into a new agreement
consistent with the purposes of this Agreement. Should the Parties be unsuccessful in
their efforts, the Agreement shall terminate without penalty or recourse to the City.
11. Governing Law. The laws of the State of Colorado shall govern the
validity , performance 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 be proper and exclusive in the district court for
Jefferson County, Colorado.
12. Notices. All notices required or permitted under this Agreement shall be
in writing and shall be hand delivered or sent by certified mail , return receipt requested ,
postage prepaid , to be addressed to the Parties 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 Owner:
City Manager
City of Wheat Ridge
7500 W. 29th Avenue
Wheat Ridge, CO 80033
City Attorney
City of Wheat Ridge
7500 W. 29th A venue
Wheat Ridge , CO 80033
Eugene Kahng -President
LIQUID ART WORKS , INC.
6995 W. 38th Avenue
Wheat Ridge , CO 80033
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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
communications, representations or agreements , either verbal or written , between the
Parties hereto. This Agreement may be amended only by written agreement between the
Owner and the City acting pursuant to City Council authorization.
14. Effective 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
terminate and both Parties sha ll be relieved of all liability hereunder.
IN WITNESS WHEREOF , Owner and City have each caused this Agreement to be
executed by the authorized Parties .
State of Colorado
County of .Tdfuso A
)
) ss.
)
OWNER
COLORADO PLUS LIQUID ART
WORKS, INC.
The foregoing Agreement was acknowledged before me this ~day of :fotf\lJO...<'~\
2013._, by EuKe.llC:: ~~hr1.J as fttsuiut+-[title] of
Co lor-aiD f us Lt 'J. !&t-Wort($ , Inc.
WITNESS MY HAND AND OFFICAL SEAL.
My Commission expires: OK)~( !Ji --~~~~~+,~-----
&w?/. 1/-./gmy_<
BRUCE A . ROOME
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID # 20024025566
MY COMMISSION EXPIRES AUGUST 06 . 2014
Notary Public
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AT'fEST:
me: Janelle Shaver
Title: City Clerk
State of Colorado )
) ss.
County of Jefferson )
The foregoing Agreement was acknowledged before me this ~ day of JW'tVA. ~ ,
20Ji, by Jerry DiTullio as Mayor and Janelle Shaver as City Clerk, respectively , fthe
City of Wheat Ridge, Colorado.
WITNESS MY HAND AND OFFICAL SEAL.
My Commission expires: 0 8 ){)f>};JoJY
r 1 ~~~-~~
Notary Public
7
BRUCE A. ROOME
NOTARY PUBLIC
STATE OF COLORADO
NOTARY 10 # 20024025568
MY COMMISSION EXPIRES AUGUST 08, 2014
..) ~ . ,.
EXHIBIT A
Ordinance 200 l-08
The Enhanced Sales Tax Incentive Program
(The "ESTTP Program ")
Sec . 22-73. -Program establis hed.
There is hereby e s tablished within the city an enhanced sales tax incentive
program.
tUrd No. /98,\'--;"58. _,,. /{2-1-1). 5-]3-,\8: On/ No. 1272. ,,~·I. ll-9-02J
Sec. 22-74.-P u rpose.
The purpose of the enhanced sales tax incentive program created by this division
is to encourage the establishment and /or substantial expansion of retail sales 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 increased sales tax
collections will enable the city to provide expanded and improved municipal services 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 re idents .
(Ord No. 1988--ss. ,, lr:!..f-2J. 5-23-88: On/. .\'o. 12 7 l. ,,,.I. 12-9-0l)
Sec. 22-75 .-Defi n itions.
The following words, terms and phrases , when used in this division , shall have
the meanings ascribed to them in this section, except where the context clearly indicates a
different meaning:
Enhanc ed sales tax shall mean the amount of sales tax collected by the city over
and above a base amount negotiated by, and agreed upon by, the applicant and the city,
and which amount is approved by the city council, which base amount shall never be
lower than the amount of sales taxes collected by the city at the property in question in
the previous twelve ( 12) months plus a reasonable and agreed upon percentage of
anticipated increase in s ales taxes, or, in the case of a newly established business, an
amount which represents the good faith determination by the applicant and the city as to
the amount of sales taxes which could be generated from the new business without the
participation by applicant in the ESTIP created under this division.
ESTIP means the enhanced ales tax incentive program created under this
division.
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Own er or proprie tor shall mean the record owner or operator of an individual
business, or, in the case of a shopping center, the owner of the real property upon which
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
businesses operated thereon.
(()rd. No I<J,\'S--5<'-,'. _,,· 1(2-1-3). 5-:!3-SS, Ord \'o. 1272, §I. 1:!-<J-02;
Sec. 22-76.-Participation.
Participation in ESTIP shall be based upon approval by the city council
exercising its legislative discretion in good faith. Any owner or proprietor of a newly
established or proposed retail sales tax generating business or location, or the owner or
proprietor of an existing retail sales tax generating business or location which wishes to
expand substantially, may apply to the city for inclusion within the ESTIP provided that
the new or expanded business is reasonably likely to generate enhanced sales taxes of at
least five thousand dollars ($5 ,000.00) in the first year of operation.
fOrd \'o. I<JS.\--5.\ .. \''1(2-1--1). 5-:!3-.)'8: Ord Xo. 19C}{J-85.f. _,,·I. 11-:!()90: Ord No.
127 ,,. I. 1:!-<J-0])
Sec. 22-77.-Approval of agreement; use of funds gc n e•·ally .
Approval by the city council of an agreement implementing this ESTIP shall
entitle the successful applicant to share in enhanced sales taxes derived from applicant's
property or business in an amount which shall not in any event exceed the enhanced sales
taxes; provided , however, that applicant may use such amounts only for public and/or
public-related purposes such as those specified herein and which are expressly approved
by the city council at the time of consideration of the application. The time period in
which the enhanced sales taxes may be shared shall not commence until all public or
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.
(()n/ \'o. 19,\'S--58. ' IC.f-5; 5-23-88: Ord No. :!OO:l-12-10 .. '·I. 1-28-02 : Ord No.
1::-:; ,, I 12-()-IJ:!J
Sec . 22-78 .-Uses enumerated.
The uses to which 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. For the
purposes of this division , public or public-related purposes shall mean public
improvements, including but not limited to streets, sidewalks, curbs, gutters, pedestrian
malls, street lights , drainage facilities , landscaping, decorative structures, statuaries,
fountains , identification signs , traffic safety devices, bicycle paths , off-street parking
facilities , benches, restrooms , information booths, public meeting facilities , and all
necessary, incidental , and appurtenant structures and improvements, together with the
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relocation and improvement of existing utility lines , and any other improvements of a
similar nature which are specifically approved by the city council upon the city council's
finding that said improvement are public or public-related improvements, and that such
improvements shall enhance the competitive position of the applicant within the Denver
metropolitan area marketplace.
(Ord No. 1 988-~58. § 1(2./-6). 5-23-88: On/. No. 1272. §I . 12-9-02)
Sec . 22-79.-I nuements, s h aring of funds.
The base figure for sales taxes shall be divided into twelve ( 12) monthly
increments, which increments are subject to agreement between the parties , and approval
by the city council , and which increments shall be reasonably related to the average
monthly performance 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 applicant so as to create enhanced sales tax for that month , no funds shall be shared
with applicant for that month , and no increment shall be shared until that deficit, and any
other cumulative deficit, has been met, so that at the end of any twelve-month cycle,
funds in excess of those enhanced sales taxes agreed to be shared shall not have been
shared with any applicant.
(Ore/. Vo. 1988-~5 ,\ .~' !(:!.f-~J. 5-23-8?>: Ord No. 1272 .. ~I , 12-9-0:!.)
Sec. 22-80.-Revenues restricted .
It is an overriding consideration and determination of the city council that
existing sources of city sales tax revenues shall not be used , impaired , or otherwise
affected by this enhanced sales tax incentive program. Therefore, it is hereby
conclusively determined that only enhanced sales taxes generated by the properties
described in an application shall be subject to division under this ESTIP . It shall be the
affirmative duty of the treasurer to collect and hold all such enhanced sales taxes in a
separate account apart from the sales taxes generated by and collected from the other
sales tax generating uses and businesses within the city and to provide an accounting
system which accomplishes the overriding purpose of this section. It is conclusively
stated by the city council that this division would not be adopted or implemented but for
the provisions of this section.
(On/. No. 1988-~58,§ 1r2./-8), 5-23-88: Ord. No. 1272, ,\\. 1. 12-9-0:!)
Sec. 22 -81.-Capita l improve m en t fund.
The one (I) percent of sales and use taxes earmarked for the capital improvement
fund may be utilized in this ESTIP for public improvements so long as the same are
within the meaning of the phrase capital improvements as defined in the voter approved
sales tax referendum previously held within the city, and provided that the same are
found and determined by the city council to be capital improvements which could be
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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 this ESTIP shall be limited to the amount agreed pursuant to section 22-
83 hereof; provided further, however, that nothing contained herein shall limit the city
council in the determination to appropriate additional capital improvement funds for
capital improvements affecting the property in question as a part of the city's regular
appropriation and budget process.
rUrd •\u /<)'\,\'-7 5S ,,. 10-1-Y). 5-:!3-SS: Ord No. 1r2. _,,,I. I:!-Y-02J
Sec. 22-82. - C r ite ri a fo•· 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 portion of a regularly scheduled city council
meeting, based upon the following criteria:
(I)
(2)
(3)
(4)
(5)
(6)
The amount of enhanced sales taxes which are reasonably 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, additional employment for city residents,
etc;
The amount of expenditures which may be deferred by the city based
upon public improvements to be completed by the applicant;
The conformance of the applicant's property or project with the
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 by a majority of the entire city
counci I.
rOrd. No. /1)8,\-75.\. ·'' 1(2-1-10;, 5-:!3-8\': Ord. No. 1:!"'2, §I. 12-9-02)
Sec. 22-83.-Agreement required.
Each application for approval submitted to the city council shall be subject to
approval by the council solely on its own merits. Approval of an application shall require
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that an agreement be executed by the owner and the city, which agreement shall , at a
minimum , contain :
(I)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
A list ofthose public or public-related improvements which justify
applicant's approval , and the amount which shall be spent on such
improvements;
The maximum amount of enhanced sales taxes to be shared , and the
maximum time during which the agreement shall continue, it being
expressly understood that any such agreement shall expire and be of no
further force and effect upon the occurrence of the earlier to be reached
of the maximum time of the agreement (whether or not the maximum
amount to be shared has been reached) or the maximum amount to be
shared (whether or not the maximum time set forth has expired);
A s tatement that this is a personal agreement which is not transferable
and which does not run with the land ;
That this agreement shall never constitute a debt or obligation of the city
within any constitutional or statutory provision ;
The base amount which is agreed upon by month , and the fact that if, in
any month as s pecified , sales taxes received from the property do not at
least equal such amount, that there shall be no sharing of funds for such
month;
The base amount shall be agreed upon which shall consider the historic
level of sales at the property in question , or a similar property within the
area in the event of a new business, and a reasonable allowance for
increased sales due to the improvements and upgrades completed as a
result of inclusion within this program ;
A provision that any enhanced sales taxes subject to sharing shall be
escrowed in the event there is a legal challenge to this enhanced sales tax
incentive program or the approval of any application therefor;
An affirmative statement that the obligations, benefits, and/or provisions
of this agreement may not be assigned in whole or in any par1 without the
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(9)
expressed authorization of the city council, and further that no third party
shall be entitled to rely upon or enforce any provision hereof;
Any other provisions agreed upon by the parties and approved by the city
council.
rOrd. Xu /988-75\. .'· /{2-1-1!). 5-.:3-8\: Ord. ,\'o. n-2. ,,. I. 12-9-02)
Sec. 22-84.-.Joi nt venture; liability.
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 the city with increased sales tax
revenues generated upon and by properties improved as a result of this program ; public
improvements being completed by private owners through no debt obligation being
incurred 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 finds and detennines that creation of this 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 provision hereof, the city shall never be a joint venture in any
private entity or activity which participates in this ESTIP, and the city shall never be
liable or responsible for any debt or obligation of any participant in ESTIP.
(Ord No. /98S-75;-.·. ·'' 1(.:-1-1.:). 5-23-SS: Ord No . 1272. §I. 1.:-9-02)
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EXHIBIT B
6995 W 38TH AVE. WHEAT RIDGE, CO 80033 (building's physical address)
THE WEST 100 FEET OF LOT l , BLOCK I , HOLLEY SUBDIVISION , EXCEPT
THAT PORTION CONV E YED TO THE CITY OF WHEAT RIDGE BY DEED
RECORDED OCTOBER 8, 1990 UNDER RECEPTION NUMBER 90086578 ,
COUNTY OF JE FF ERSON , STATE OF COLORADO.
3835 REED ST. WHEAT RIDGE, CO 80033 (parking lot only)
LOT 2 , BLOCK I , HOLLEY SUBDIVISION , COUNTY OF JEFFERSON , STATE OF
COLORADO.
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EXHIBIT C
Qualifying Public Improvement Costs
The project will include the following public improvements:
Provide handicapped accessibility to the entire structure to include ingress and egress and
ADA accessible restroom facilities.
Exterior fayade improvements enhancing the public environment and overall look of the
Ridge at 38
Creation of an exterior patio along 38 111 Avenue inviting multi modal transportation and
viewing environment of the site ·
Bring the interior of the site to building code conformance and public safety standards.
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