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HomeMy WebLinkAboutResolution 2013-0036CITY OF WHEAT RIDGE , COLORADO RESOLUTION NO. 36 Series of 2013 TITLE: A RESOLUTION APPROVING AN INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF WHEAT RIDGE AND RENEWAL WHEAT RIDGE TO PROVIDE FUNDING FOR THE PURCHASE OF CERTAIN PROPERTY WHEREAS , pursuant to C .R.S . § 29-1-203, the City of Wheat Ridge and Renewal Wheat Ridge (the "Parties") are authorized to cooperate and contract with one another for the performance of functions , service or facility to the extent authorized to ; and WHEREAS, each Party is authorized by statute to acquire and dispose of real property; and WHEREAS, Renewal Wheat Ridge (RWR) is in the process of entering i nto a purc hase agreement with The Bank of Denver (Louise, LLC) to acquire certain real property located within the City of Wheat Ridge at 7690 W . 381h Avenue and 3790 Yukon Court; and WHEREAS , RWR's purchase of the property is within the statutory power as an urban renewal authority and is being made for the purpose of blight removal within the City of Wheat Ridge ; and WHEREAS , the City w ishes to assist RWR in its purchase of the property by making available to RWR funds in the amount of the purchase price upon certain conditions as more fully described in in Exhibit A ; and NOW, THEREFORE , BE IT RESOLVED by the Wheat Ridge City Council , that: The In tergovernmental Agreement attached hereto and incorporated herein by reference , is hereby approved. The Mayor and City Clerk are authorized to execute the same. This resolution shall be effective immediately. DONE AND RESOLVED this 9th day of Septembe ATTEST: I NT E R G OVE RNM E NT AL AG REEM E NT FUN DSFO RPURC H ASE O F R EAL PROPER T Y This lntergovemmental Agreement (the ·'Agreement") is entered into as of the __ day of , 2013, by and between the City of Wheat Ridge, a Co lorado home rule municipality ("the City") and the Wheat Ri dge Urban Renewal Authority, d/b/a Renewal Wheat Ridge (a Colorado horne rule municipality and body corporate po li t ic (the "URA") collectively referred to herein as (the "Parties"). R ECITALS A. Pursuant to C.R.S. § 29-I -203 , the Parties are autho ri zed to cooperate and con tract with one another for the perfonnance of fu nctions, service, or faci lity to the ex tent authorized to each. B. Each Party is authorized by statute to acquire and dispose of real property. C. The URA is in the process of entering into tha t certain Purchase Agreement with Louise, LLC , a Co lorado limited liability company, to acquire certain real property located within the City of Wheat Ridge more particu larly described in Ex hibit A attached hereto and incorporated here to by this reference, constituting approximately 26,040 square feet of land, together with all improvements. easements, water rights, mineral rights and other rights appurtenant thereto and also known by street and number as 7690 W. 38'11 Avenue and 3790 Yukon Court, Wheat Ridge, Colorado (the "Property"): D. The URA 's purchase of the Property is wit hin its statutory power as an urban renewa l authonty and is being made for the purpose of blight removal within the City of Wheat Ridge. E. The City wishes to assist the URA in its purchase of the Propeny by making available to the URA funds in the amount of the purchase price upo n certain condi tions as more fu ll y described in this Agreemen t. NO\V, THEREFORE, the Parties agree as follows: 1. Obligations of the Citv . A. Funding of Property Acq uisition. The City sha ll provide to the URA the funds to acquire the Property, estimated to be no more than $340,000 plus any costs associated with the closing of the transaction (the "Funding'') to be used by the URA solely and exclus i' e ly for purchase of the Property pursuant to the Purchase Agreement. The Funding shall be made available on or before September 30, 20 13. All or a portion of the Funding. as mutually agreed upon by the City and the URA. shall be repaid to the City upon the transfer by the URA of the Property to a subsequent developer, as purchaser. The C ity consents to the URA 's conveyance of the Property to a third party in accordance with C.R .S. Section 31-25-1 06(2). B. Funding for Environmental Remediation. The City further agrees assist the URA by directly or indirectly contributing funds, obtaining grants or otherwise expending money in -I- amounts necessary to rcmediate the Property as part of the Colorado Department of Public Health and Environment's Voluntary Clean Up Program ("VCUP''). in a tota l amount to be estimated on or before the purchase of the Property by the URA. 2. Obliga ti on s of t h e URA. The URA shall: A. Close upon the Property as set forth in the Purchase Agreement; B. Cause any environmental con tamination of the Property to be remediated such as to result in a "no further action detennination" by t11e Colorado Department ofPublic Health and Environment~ C. Use the funding provided for environmental remediat ion of the Prope11y for its stated purpose; D. Convey or sell the Property to a developer, as purchaser upon the developer, as a bona fide prospective purchaser, being able to obtain a "no further action detennination" by tl1e Colorado Department of Public llealth and Env ironment; and E. Repay to the City any funds received from the City or otherwise which are in excess of am ounts necessary for purch ase of the Property, or for enviromr1ental remediation as described at Paragraph 2.B. 3 . No ti ce. Any notice required or pem1itted by this Agreement shall be deemed validly given at the time the notice is deli' ered in person. or deposited in first class or registered mail, or transmitted by facsimile (with confinnation of receipt) to the following addresses: Steve Art Wheat Ridge U rban Renewal Authority 7500 W. 29'" Avenue Wheat Ridge. CO 80033 Patrick Goff City of Wheat Ridge 7500 W. 29th Avenue Wheat Ridge, CO 8003 3 4. Par agra ph Ca ption s. The captions of the paragraphs are set forth onJy for the convenience and reference of the Parties and are not intended in any way to define, limit or describe tl1e scope or intent of this Agreement. 5. I nteg r a ti on a nd A m endment. This Agreement represents the entire understanding between the Parties with regards to the subject matter of th is Agreement and there are no oral or collateral agreements or understandings. This Agreement may be amended only by an instrument in writing signed by the Parties. If any provision of this Agreement is held invalid or unenforceable, no other provision shall be affected by such holding, and all of the remaining provisions of this Agreement shall continue in full force and effect. 6. Govern in g Law. This Agreement shall be governed by the laws of the State of Colorado. Jurisdiction and venue shall be proper ru1d exclusive in the district coun for Jefferson County, Colorado. 2 7. R es p on sibility. Each Party shall remain responsible for t he acts and omissions of its own officials, employees and agents and shall not be respons ib le fo r the acts or omissions of the officials, employees or agents of the other Party. Neither Party waives the rights, limitations, and defenses available to it under the Colorado Governmental Immunity Act , C.R.S. § 24-1 O- J 0 I , et seq., as may be amended from time to time. or any other rights or protections otherwise provided by law. 8. N on-Aooro oriationl!f A BOR. The Parties understand and acknowledge that the City of Wh eat Ridge is subject to Article X, § 20 of the Colorado Constitution ("TABOR "). The Parties do not intend to violate the terms and requirements of TABOR by the execution of this Agreement. It is understood and agreed that this Agreement does not create a m ul ti -fiscal year direct or indirect debt or obligat ion within the meanjng of TABOR and , therefore, notwithstanding anything in th is Agreement to the contrary, a ll payment obligations of Wheat Ridge are expressly dependent and conditioned upon the continuing availability of funds b eyond the term of the City of Wheat Ridge's current fiscal period ending upon the next succeeding December 31. Financial obligations of Wheat Ridge payable after the current fiscal year arc contingent upon funds for that purpose being appropriated, budgeted, and otherwise made ava ilab le in accordance with the rules. regulations, and reso lutions of Wheat Ridge and other applicable law. Notwithstanding any other provision of this Agreement concerning termination, upon W heat Ridge's failure to appropriate such funds, this A1:,rreement s hall autom atical ly te nn i nate. 9 . N o Third Party B e neficiaries. Enforcement of the terms and conditions of this Agreement and all rights of action relating to such enforcement shall be strictly reserved to the Parties. and nothing contained in this Agreement shall give or allow a n y such claim or right of action by any other person or entity not a party to this Agreement. 10. E xecution in C ounterparts; Further A ss urances. TI1is Agreement may be executed by the P arties w ith separate signature pages, each of w h ich s h aJI constitute an original and together w h ich shall constitute one a nd th e same agreement. T he P art ies shall execute any other documents a n d to take any other action necessary to carry out the intent of this Agreement. IN \\11TN ESS \VH E REOF , the Parties have caused the Agreement to be duly execu ted as of the date first written above. 3 ATTEST: irec tor AlTEST: \\'HEAT RJDGE URBAN REN\\'AL AUTHORITY d/b /a RENEWAL \\'HEAT RIDGE B y:~_ ,Chair 'st i 0 · 4 EXHIBIT A Lega l D escr ip t io n of the Propert y PARCEL A: THE NORTH 198 FEET OF TRACT I , ADKINS SUBDIVISION, EXCEPT THAT PORTION CONVEYED TO THE CITY OF WHEAT RIDGE BY INSTRUMENT RECORDED OCTOBER 26, 1992 AT RECEPTION NO. 92136103 , COUNTY OF JEFFERSON, STATE OF COLORADO. PARCEL 8: THE SOUTH 30 FEET OF THE NORTH 228 FEET OF TRACT 1, ADKINS SUBDIVISION , C O UNTY OF JEFFERSON, STATE OF COLORDO. 5