Loading...
HomeMy WebLinkAboutStudy Session Agenda Packet 12-07-15STUDY SESSION AGENDA CITY COUNCIL CITY OF WHEAT RIDGE, COLORADO 7500 W. 29th Ave. Wheat Ridge CO December 7, 2015 6:30p.m. Individuals with disabilities are encouraged to participate in all public meetings sponsored by the City of Wheat Ridge. Call Heather Geyer, Administrative Services Director at 303-235-2826 at least one week in advance of a meeting if you are interested in participating and need inclusion assistance. Citizen Comment on Agenda Items .L Staff Report(s) a) Rural Metro Corporation and American Medical Response ~ Sobesky Academy Presentation -The Jefferson Area Innovation Plan ~ West End 38 Conditions Survey and Urban Renewal Plan 4. Elected Officials' Report(s) ADJOURNMENT ~ ~ 4 ~ ... # , City of • --~Wlieat&_dge ~OLI CE D EPARTMENT TO: THROUGH: FROM: DATE: SUBJECT: Memorandum Mayor Joyce Jay and City Ciu cil Patrick Goff, City Manager Daniel Brennan, Chief of Pol e Dave Pickett, Division Chief Support Services Division December 2, 2015 (for Study Session of December 7, 2015) Staff Report: Merger between Rural/Metro Corporation and American Medical Response /a_ On October 24, 2011 , an lntergovemmental Agreement (IGA) was approved by City Council between the City of Wheat Ridge Wheat Ridge Fire Protection District and Rural/Metro of Central Colorado, lnc. d/b/a Pridemark Paramedic Services. The contract took effect on January I, 2012, and it allows City Council to continue the contract for successive one-year periods for an additional four years. Under these tenns, the current IGA will expire on December 3 1, 2016. The purpose of the IGA was to ensure the availability of high-quality emergency ambulance services within the entire corporate limits of the City of Wheat Ridge and the response boundaries of the Fire District. On August 5, 2013, City Council was advised that RuraVMetro was w1dergoing a financial restructuring plan. The staff report is attached. Since that time, service levels have remained nonnaJ throughout this restructuring process, and Rural/Metro has met the perfonnance objectives in the contract. On October 22, 2015, the Poli ce Department was advised that a merger between the current emergency medical services provider, Rural/Metro of Central Colorado, Inc. d/b/a Pridemark Paramedic Service, and American Medical Response was approved by the Federal Trade Commission. Rural/Metro staff has been keeping the Police Department and the Wheat Ridge Fire Department updated on the merger. This merger does not affect the current contract between Rural/Metro, the City of Wheat Ridge and the Wheat Ridge Fire Protection District. All agencies continue to monitor perfonnance levels outlined in the contract, and continue to meet to discuss service levels on a quarterly basis. The department will bring forward a staff repo1i outlining the 2015 annual contract review, as well as a resolution on extending the contract through December 31, 2016. This will be the final year of the current contract. The letter from Rural/Metro of Central Colorado explaining the merger and the associated 2013 staff report is attached. ATTACHMENTS: I. Letter from Rural/Metro of Central Colorado 2. 2013 Staff Report DP/ck ' . ~ -"' • r City of • --~Wheat &_dge ~O LI CE DEPARTMENT TO: THR OUGH: FROM: DATE: SUBJECT: Memorandum Mayor DiTullio and City Council Patrick Goff, City Manager Daniel Brennan. Chief of Police Joseph Cassa, Division Chief Support Services Division August 5, 2013 Rural/Metro Financial Restructuring Plan Outing the week of July 29, 2013, I received a telephone call from Mr. David Patterson who is the Division General Manager for Rural/Metro Ambulance -Pridemark (Pridemark). Mr. Patterson informed me that the Rural/Metro Board of Directors made a decision to defer the interest payment due on a bond. At that time, Mr. Patterson assured me that there would be no change in the dail y operations of Pridemark regarding the response of Emergency Medical Services (EMS) crews and the provision of EMS services to the citizens of our community. Mr. Patterson wanted the City to know about this matter prior to it becoming newsworthy. On the evening of August 4, 2013, I received an email message from Mr. Patterson containing the two documents attached to this memorandum for your review. One of the documents is a press release from the Rural/Metro headquarters in Scottsdale, Arizona. The second document is a letter to their customers. In summary, these documents state that the company is engaged in a prearranged, comprehensive financial structuring plan which is being managed from the company's corporate headquarters. r spoke with Mr. Patterson this morning who told me that this matter is not one of cash flow but rather a decrease in the amount owed as a result of the approximately 50 percent debt reduction. In doing so, the company will be provided a significant infusion of new equity capital. Mr. Patterson again assured me that the Colorado field operations are stable and will continue to operate normally in the provision of EMS to the City throughout the restructuring process. To date, I am not aware of any negative changes in the provision of EMS services to the City. Mr. Patterson is available to meet with City Officials and the City Council, either as a group or individually to answer any questions they may have. Additional information can be found on the following website: •Nww.donlinrecano.cornlnnc. JC Attachment 1 .. ~RURAL /METRO ~ People toklog •••• of people .•. Togotho1 we ••• do ooythtogl October 22, 2015 SENT VIA FEDERAL EXPRESS AND U.S. CERTIFIED MAIL Wheat Ridge Police Department Attn: Dave Pickett 7500 W. 29th Ave, 2ftd Floor Wheat Ridge, CO 80033 RE: Intergovernmental Agreement by and between the City of Wheat Ridge, the Wheat Ridge Fire Protection District and Rural/Metro of CentraJ Colorado, (the "Agreement'') To Whom It May Concern, This follows-up our previous communications regarding the announcement on July 30, 2015, that RuraliMetro Corporation ("Rural/Metro") and the parent company of American Medical Response ("AMR .. ) have entered into a merger agreement 1 We wanted to provide you with some more details on the merger and update you on an important development regarding Federal Trade Commission ("FfC") approval of the merger. The closing of the merger will result in Rural/Metro and all of its emergency medical services, frre services and other business operations becoming owned by the same parent company as AMR. The merger will expand the breadth of service offerings for the communities and facilities served by each of these well-known healthcare providers. The merger will not result in an assignment of the Agreement referenced above. Additionally, the merger will not result in a change in a direct ownership of Rural/Metro of Central Colorado, Inc. (the "Local Provider'). The Local Provider's name, physical address, national provider identifier, Medicare provider number, Federal tax identification number and direct ownership will not change. The merger is not expected to change the Local Provider's day-to-day management or local operations. In addition, any security arrangements that may be in place - such as performance bonds and insurance commitments -will remain intact and unchanged by the merger. Rural/Metro looks forward to continuing our relationship and honoring our commitments and we will have a large public parent company, Envision Healthcare Holdings, Inc. (NYSE ticker: EVHC), backing us. Attachment 2 1 A copy of the Metget Agreement filed by Envision Healthcare with the SEC is pubUcly available at http://www.sec.gov/Arcblvesledgarldata/157831810001104659150S4885/al5·166l6_18k.htm 8465 N. PIIIIBII• • lt.On*le, Al'tltll85258 Pllte (481) 6M-3886 • fll (481) M6-U22 City of Wheat Ridge October 22, 2015 Page2 Significantly, we are very pleased to announce that the FI'C has recently approved the nationwide merger. FfC clearance is one of the last major hurdles before closing the merger. The merger is now on track to close in approximately thirty days. Additional details about the closing will be provided to you by our local operations team in the coming weeks. Again. when the merger closes, you will not see any disruption in your services and it will be business as osual. In the meantime, should you have any questions about the merger or closing, please feel free to contact Jennifer Holsman Tetreault from Rural/Metro at (480) 606-3644 or jtetreanlt@nnetro.com and please feel free to contact Amanda Berends from Envision at (303) 334-2315 or amanda.berends@evhc.net Sincerely, Greg James Division President Cc: Scott Bartos, Chief Executive Officer of Rural/Metro Jennifer Holsman Tetreault, General Counsel of Rural/Metro Edward B. Van Home, Chief Executive Officer of AMR Amanda Berends, Corporate Counsel of Envision ~ t" .. "' ~ ~ City of • --r//'"W heat D irlrTe .Jt"" OFF1CE OF THE CITY MAJ!.c~~ TO: FROM: DATE: SUBJECT: Memorandum Mayor and City Council (\1 Patrick Goff, City Manager '#J December 2, 2015 (For December 141h Study Session) The Jefferson Area Innovation Plan :f+enc 2. In an effort to provide Jefferson area students wi th ed ucational choices that are responsive to the community's diverse needs and wiU support improved student achievement, the "Jefferson-Area Innovation P lan" was approved and implemented in the fall of 2015. The Plan included creating a Stevens Elementary PK-6 School on the current Wheat Ridge 5-8 campus and a high school for grades 7-12 at Jefferson in Edgewater. ln addition, Sobesky Academy will move from its current location in Lakewood to the former Stevens Elementary facility in Wheat Ridge in March/April 2016. Sobesky offers an alternative to out-of-district placement, and is designed to meet the intensive emotional, behavioral and related academic needs of students with identified emotional disabilities. Terry Walderman, Sobesky Academy Principal. and Gary Ritchey, Sobesky Academy Assistant Principal, have been invited to the December 7th study session to provide an update on the h·ansition of the school from Lakewood to Wheat Ridge. ATTACHMENTS: I. The Jefferson Area lm10vation Plan Jefferson Area Plan Implementation lmplementacion del Plan del Area de Jefferson Wheat RidgeS-87th & 8th graclers willatttftd Jt«trton Jr./Sr. High, which will ttrvt 7th-12th gradtrt. SfMfts Elttlttltary has rtlecattd to the .W Wh .. t Ri4tt S-8 caM~ at 7101 W. J8th Aw. In WMat Ridtt, which wUI~ttvt pr• K-6thgracltrs. LM tttudlaflftt cit .,. y 8' cit Whtat Rkltt S-8 u llttr'" ahota 1 Jtft'inofl Jr./Sr. High School, Ia cuallmpartlr' cl11t1 para Its graclot cit 7. • 12'. Stevtfll EletMtttary School • hi ttuladado altfltip ca11pus lit WMit Ridge S-8, u~lcaclo tn 7101 W. J8th Aw., Whitt Ridge, t lropatflr' clam ptrt los grMos lltlcrfllltr 16'. Attachment 1 SoMtlcy Acacltmy will 111M to the old StMM loutioe 1ft January 2016 (ftftttttwl to expand ntedtd Spteia EducatiM ltfViees. Btll tirMt haw -mi-' ,. tultr par•t drop4 _, to align all seheolt to 1 ... hour day. Chtck with your scMol fw ltsMwtlttlltt-. Soltttlcy Acaclttnv It trltW.r' 1 Ia lftttp ublcaciM • Stewfts "' tMro dt 2016 pan ampllar ttrYiciot fltCttlrios ell EMaeiOn Etpeclal. " ~ . ~ -~ r City of • .. ~Wheat&_,dge ~OFFICE OF THE CnY MANAGER TO: FROM: DATE: SUBJECT: ISSUE: Memorandum Mayor and City Council (')! Patrick Goff, City ManagerW December 2, 20 15 (For December 14th Study Session) West End 38 Conditions Survey and Urban Renewal Plan The adoption of a resolution forming a new urban renewal plan area for the development of the proposed West End 38 project. The proposed West End 38 Urban Renewal Plan area is located at the northwest comer of West 381h Avenue and Upham Street. The Plan will allow for the use of Tax Increment Financing (TlF) for the project. As per Colorado Urban Renewal Law, urban renewal plans are adopted by City Council and implemented by the Urban Renewal Authority. PRIOR ACTION: On November 19,2015 the Wheat Ridge Planning Commission unanimously adopted a resolution finding that the Plan adheres to the City's Comprehensive P lan, Envision Wheat Ridge. On December 1, 2015 the Wheat Ridge Urban Renewal Authority, dba Renewal Wheat Ridge (RWR) adopted a resolution recommending the Plan be forwarded to the City Council for final consideration. BACKGROUND R WR approved a Redevelopment Agreement with West End 38, LLC on October 20, 2015 allowing for the utilization of$4.8 million in TIF. The Agreement is for the redevelopment of 4.5 acres at the northwest comer of west 38th A venue and Upham Street. The project will consist of demolition of all structures on the property; co nstruction of a new mi xed-use project containing I I ,000 sq. ft. of retail space along 38111 Avenue, 145 market-rate apartments. a 3.800 sq. ft. freestanding bank building and a parking structure. The redevelopment area is currently located in the Town Center Urban Renewal Plan. That plan is over 30 years old and has already utilized a 25 year TIF agreement for the Town Center project. ln order to uti lize TIF for the West End 38 Project, it is recommended that the 4.5-acre redevelopment area is removed from the Town Center Urban Renewal Plan area and a new urban renewal plan is created specifically for this project. RWR contracted with Ricker/Cunningham to complete a Conditions Survey to analyze conditions within the Plan area in order to determine whether factors contributing to blight are present and whether the Plan area may, therefore, be considered eli gible as an urban renewal area under the provision of the Colorado Urban Renewal Law. It is the conclusion of this Survey that there are physical conditions within the Plan area sufficient to meet criteria in Colorado law as "blighting factors." Specifically, nine of the possible I I blight factors were found to be present including: I. Predominance of defective or inadequate street layout 2. Faulty lot layout in relation to size. adequacy. accessibility, or usefulness 3. Unsanitary or unsafe conditions 4. Deterioration of site or other improvements 5. Unusual topography or inadequate public improvements or utilities 6. Existence of conditions that endanger life or property by fire or other causes 7. Buildings that are unsafe or unhealthy for persons to live or work in 8. Environmental contamination of buildings or property 9. Substantial physical underutilization or vacancy of sites, buildings, or other improvements. West End 38. LLC and Ricker/Cunningbam created the West End 38 Urban Renewal Plan for the West End 38 project. The purpose and vision of the Plan is to reduce, eliminate and prevent the spread of blight and to stimulate and catalyze growtl1 and investment within the area boundaries. To accomplish this purpose, the Plan is intended to promote local objectives expressed in adopted community plans and advance the priorities of the Envision Wheat Ridge Comprehensive Plan. The Plan addresses financing mechanisms and methodology involved in financing activities. The Plan allows RWR to use public financing including the issuance of bonds, notes or other obligations as defined in Urban Renewal Law. RWR can borrow funds and create indebtedness; enter into reimbursement agreements: and/or utilize federal or state &rrants, interest income, annual appropriation agreements, agreements with public or private entities; and loans, advances and grants from any other available sources. The Plan also provides for the use of Tax Lncrement Financing (TTF) and the utilization of property and sales tax Increment to accomplish this funding. West End 38, LLC, Ricker/Cunningham and staff will be present at the December 7th study session to discuss the proposed urban renewal plan in more detail. The following three resolutions will be brought forward to the December 14'11 City Council meeting for consideration: 1. Resolution removing the West End 38 project area from tl1e Town Center Urban Renewal Area 2. Resolution approving the West End 38 URA Plan 3. Resolution approving a Cooperation Agreement between the City and RWR for the sharing of tax increment generated from the West End 38 project ATTACHM ENTS: I. West End 38 Redevelopment Agreement 2. West End 38 Project Elevations and Site Plan 3. West End 38 Conditions Survey 4. West End 38 Urban Renewal Plan REDEVELOPMENT AGREEMENT THIS REDEVELOPMENT AGREEMENT (this "Agreemtnt") dated as of October~ 2015, is made by and between WHEAT RIDGE URBAN RENEWAL AUTHORITY d/b/a/ RENEWAL WHEAT RIDGE, an urban renewal authority and a body corporate and politic of the State of Colorado (the ''Authority") and West End 38, LLC a Colorado limited liability company (the "Developer''). The Authority and Developer are someti mes collectively called the "Parties.'' and individuall y, a "Party." RECITALS All capitalized tenus used , but not defined, in these Recitals, have the meanings ascribed to them in this Agreement. The Recitals are incorporated to thi s Agreement as though fully set forth in the body of this Agreement. WHEREAS, the City of Wheat Ridge, Colorado (the "City") is a home rule municipality and poliricaJ subdi vision of the State of Colorado organized and existing under a home rule charter pursuant to Arlicle XX of the Constitution of the State of Colorado: and WHEREAS, the City Council of the City (the "City Council") established the Authority on October 18, 1981 ; and WHEREAS, an urban renewal plan known as the West End 38 Urban Renewal Plan (the "Urban Renewal Plan'' or the .. Plan") has been prepared and will be considered for approval by the City Council of the City pursuant to the requirements of Title 31 , Article 25, Pan I, Colorado Revised Statutes (the "Urban Renewal Law"); and WHEREAS, Developer has acquired title to, or has a letter of intent to purchase, all of the real property described in Exhibit A· I attached hereto, consisting of approximately 3.67 acres, which is located at the oorthwe t comer of West 38th Avenue and Upham Street in the City (the "Property"), which is within an urban renewal area and which is in the West End 38 TlF Area; and WHEREAS, Developer has submitted a proposa l to the City and the Authority to redevelop the Property a further set forth in Exhibit B attached hereto (the "Project''): and WB.EREAS, the Authority has detennined that the redevelopment of the Project in ord er to remediate blight is consistent with and in furtherance of the purposes of the Authority and the Urban Renewal Plan ; and WHEREAS, in order to facilitate the acquisition. construction and instaJiarion of the Project~ the Authority and Developer desire to finance certain Eligible Improvements related to the Project up to a maximum aggregate amount of Four Million Eight Hundred Thousand Dollars ($4.800,000) (as further defined below, the "Reimbursement Amount") as set forth in this Al:,'Teement; and Attachment 1 WHEREAS, pursuant to the Act and the Urban Renewal Plan. the Authority may finance undenakings pursuant to the Plan by any method authorized under the Act or any other applicable taw, including without limitation, issuance of notes. bonds and other obligations in an amount sufficient to finance all or part of the Plan: borrowing of funds and creation of indebtedness: advancement of reimbursement agreements; agreements with public or pri ate entities: and loans, advances and f.rrants from any other avai lable sources; and the Plan authorizes the Authority to pay the principal and interest on any such indebtedness from property and sales tax increments. or any other fund s, revenues. assets or properties legally available to the Authorit y; and WHEREAS. the Urban Renewal Plan contemplates that a primary method of financmg projects within the urban renewal area will be through the use of property tax increment revenues and sales tax increment revenues: and WHEREAS, the Urban Ren ewal Plan allows the use of tax increment financing related to the property tax and sales tax for the Property: and WHEREAS, Developer will mitially fund the design, acquJSIUon , construction and installation ofthe Eligible Improvements in accordance wi th this Agreement: and WHEREAS, subject to the tenns and provisions of this Agreement, Developer will be reimbursed for Eligible Costs incurred on the Eligible improvements in an amount equal to the Reimbursement Amount from the proceed of the Pledged Tax Increment Re cnucs generated by the Project (the "Pledged Re-venues"): and \VHEREAS, the Authority will execute and deli ver a promissory note (the .. Note") to Lhe Developer to evidence its obligation to pay the Reim bursement Amount. subject to the tenns and provision of this Agreement. whi ch otc shall be a special and limited obligation of the Authonty payable solely from the Pledged Revenues: and WHEREAS. the Parties have agreed to enter into this Agreement for the redevelopment of the Property in accordance with the Urban Renewal Plan and the Act. OW THEREFORE. In consid eration of the mutual covenants and promises of the Parties contained in th1s Agreement. and other aluable con ·ideration. the receipt and adequacy of which are acknowledged. the Parties agree to the tenns and conditions in this Agreement. 2 AGREEMENT I. DEFINITIONS. In this Agreement unless a different meaning clearly appears from the context. capitalized tenns mean: "Ad " means the Colorado Urban Renewal Law, Part I of Article 25 of Title 31 of the Colorado Revised Statutes. as amended . "Agreement" means this Redevelopment Agreement, as it may be amended or supplemented in writing. References to Sections or Exhibits are to this Agreement unless otherwise qualified. All exhibits attached to and referenced in this Agreement are hereby incorporated into this Agreement. "Authority'' means Wheat Ridge Urban Renewal Authority d/b/a Renewal Wheat Ridge. an urban renewal authority and a body corporate and politic of the State of Colorado which has been duly created, organized, established and authorized by the City to transact business and exercise it powers as an urban renewal authority, all under and pursuant to the Act, and its successors and assigns. "Bonds" means, collectively, bonds. certificates of participation, other obligations or securities issued by the Authority to refinance or repay the Note in accordance with the terms and provisions of this Agreement, incl uding any bonds, certificates of participation, other obligations or securities issued by the Authority to refund any such Bond . "City" means the City of Wheat Ridge, Colorado, a home rule municipality and political subdivision of the State of Colorado organized and e)tisting under a home ruJe charter pursuant to Article XX of the Constitution oftl1e State of Colorado. ·'City Requirements" mean s, collectively, the Wheat Ridge Zoning and Development Code. Architectural and Site Design Manual, Subdivision Impro vement Agreement Streetscape Design Manual, International (Building) Codes, Site Drainage Requirements, and right-of-way design standards, except as may be amended by mutual written agreement of the City and Developer through land use, building and right-of-way pennit approvals or otheJWise. "Commence Construction" or "Commencement of Construction" means the commencement by Developer of actual physical work on the Projec~ including without limitation deconstruction. demolition and/or site grading on the Property as required for the Project "Complete" or "Complete Construction" or "Completion"' or 'Completion of Construction" means construction acceptance in accordance with the City Requirements, the Subdivision Improvement Agreement, applicable laws, ordinances, and regulations of the City and any other governmental entity or public utility with jurisdiction, subject to any applicable conditions of maintenance and warranty, incl uding without limitation, the issuance of a permanent certificate of occupancy or completion by the City, witll or without conditions, so that the portion of the Project described in such certificate may open for permanent occupancy and ut ilization for its intended purposes. 3 ''Default" or ''Event of Default" means any of the events described in Section 16; provided, however, that such events will not give rise to any remedy until effect has been given to all grace periods, cure periods and periods of enforced delay provided for in this Agreement. "Developer" means West End 38, LLC. a Colorado limited li ability company, and any successors and assigns approved in accordance with this Agreement. .. Dc,•eloper Ad,•ances" means. collectively, amounts advanced or incurred by Developer to pay any Eligible Costs. "Effe.ctive Date" means the date of this Agreement. ''Eligible Costs" mea ns. collectively. the reasonable and customary ex penditures for the acquisition. design, cons truction and installation ofthe Eligible Improvements, including wi thout lim itation reasonable and customary soft costs and expenses. as set forth in Exhibit C attached hereto, as it may be amended hereunder. Eligible Costs also includes all reasonable and customary costs and expenses related to the engineering and de ign work for the Eligible Improvements. The ma xi mum amount of Eligible Costs to be paid or reimbursed pursuant to this Agreement shall be Four Million Eight Hundred Thousand Dollars ( 4.800,000) as set forth in tltis Agreement. "Eiig1ble Improvements•' mean s the improvements ct forth on Ex hib it C attached hereto. as amended in accordance with this Agreement. "E~ecutivc Director" means the Executive Director of the Authonty. ·'E hibits" The fo llowing Exhibits attached to thi Agreement arc hereby incorporated into and made a pan of this Agreement: Exhibit A-I: Legal Description of the Property Exhibit A-2: Legal Description of the West End 38 TIF Area Exhibit 8 : Description of the Project Exhib1t C: Eligible Improvements Exhibit D: Form of Project Completion Certi ficate Exhibit E Form of Note Exhibit F: Form ofSubdivision Improvement Agreement "Note" means the promissory note executed and delivered by the Authority to Developer that evidences the obligation to pay the Reimbursement Amount in accordance with the tenns and provisions of this Agreement, in substantiall y the form of Exhibit E attached to thi s Agreement. Tite Note shaJI be a special and limited obligation of the Authority payable solely from the Pledged Re enues. Interest shall not accrue on the 1ote. 4 "Party" or "Parties" means one or both of the parties to this Agreement. "Pledged Property Tax lncrcmeot Revenue)> means the annual ad valorem property tax revenue received by the Authority fTom the Jefferson County Treasurer in excess of the amount produced by the levy of those taxing bodies that levy property taxes against the Propeny Tax Base Amount in the West End 38 TIF Area in accordance with the Act and the regulations of the Property Tax Administrator of the State of Colorado. but not including, (a) any mills imposed by the Wheat Ridge Fire District; and (b) any offsets collected by the Jefferson County Treasurer for return of overpayments or any reserve funds retained by the Authority for such purposes in accordance with Sections 31-25-1 07(9)(a)(lll) and (b) of the Act. ''Pledged Sales Tax Increment Revenues" means, for each year that this Agreement remains in effect, that portion of the Sales Tax revenue received by the City, and remitted to the Authority in accordance with the Act and the Plan, equal to the product of the Sales Tax rate of three percent (3.00%) times the amount of the taxable transactions subject to the SaJes Tax in the West End 38 TLF Area. less the Sales Tax Base Amount. "Pledged Revenues" means the Pledged Tax Lncrement Revenues in the totaJ aggregate principal amount of $4,800,000. "Pledged Tax Increment Revenues" means, collectively. the Pledged Property Tax Increment Revenues and the Pledged Sales Tax Lncrement Revenues. ·'Project" means the redevelopment of the Propeny, as further set forth in Exhibit B attached hereto. "Project Account" means the account of the Special Fund created in Section 5.2 into which the Authority sh aJI deposit the Pledged Tax Lncrement Revenues. "Project Completion Certificate" means the certificate in substantia lly the form of Exhibit D attached hereto relating to the satisfaction of the conditions precedent set fonh in Section 3.1 relating to the payment of the Reimbursement Amount. "Property'' means the real property described in Exhibit A-I attached hereto. which consists of approximately 3.67 acres. l11c Property is included in the West End 38 TIF Area. "Property Tax Base Amount" means the amount certified by the Jefferson County Assessor as the valuation for assessment of all taxable property \.vi thin the West End 38 TIF Area in accordance with Section 31-25-1 07(9)(a)(I) of the AcL The Property Tax Base Amount and increment value shall be calculated and adjusted from time to time by the Jefferson County Assessor in accordance with Section 31-25-l 07(9) of the Act and the rules and regulations of the Property Tax Administrator of the State of Colorado. "Reimbursement Amount" means a maximum amount equal to $4.800,000. which is the maximum amount that will be paid to the Developer to reimburse the Developer for Eligible Costs in accordance with the terms and provisions hereof. No interest shall accrue on the Reimbursement Amount. 5 "Sales Tax" means the municipal sales tax of the City on saJes of goods and services that are subject to municipal sales taxes pursuant to the Wheat Ridge City Code. In the event that the Sales Tax is subsequently increased above 3.00%. the amount of Sales Tax subject to this Agreement shall not be increased above 3.00% unless otherwise authorized by the City Council. "Sales Tax Base Amount" means Lbe total collection of Sales Taxes levied at the rate of three percent (3.00%) within the West End 38 TIF Area for the applicable twelve-month period in accordance with Section 31-25-I 07(9)(a)(J) of the Act. l11e Sales Tax Base Amount is $0.00 . .. Special Fund" means the special fund of the Authority defined in Section I 07(9)(a)(ll) of the Act. "Subdivision Improvement Agreement"' means that Subdivision Improvement Agreement for the Project to be submitted by Developer to the City m ubstantially the fonn set forth hereto as Exhibit F attached hereto. ''Urban Renewal Plan'' or "Plan" means the West End 38 Urban Renewal Plan approved by the City Council. as amended from ttme to ume. "West End 38 TIF Area'' means the approximately 4.535 acres within which the Propeny is located and that is legall y described on Exhibit A-2. The West End 3 TIF Area is the same as the urban renewal area described in the Urban Renewal Plan within which the tax increment provi ions of Section 31-25-1 07(9) of the Act apply. 2. 2.1 Construction of Pro ject. As set fonh in ection 4. if Developer proceeds with the Project, then Developer shall be responsible for acquiring. constructing and installing lhe Project. including without limitation, aJI Eligible Improvements. and shall be responsible for compliance tn all respects with the City Requirements. 2.2 Financing the Eligible Improvements. Developer shall be responsible for initially financing the costs and expenses in connection with the acquisition. construction and installation of the Eligible Improvements, including without limitation all design costs, engineering co t and other soft costs incurred in connection therewith. 3. CONDrTIO S PRECEDENT TO PAYMENT OF REIMBURSEMENT AMOU T. 3.1 Conditions Precedent. Unless waived in writing by the Executive Director. the fo llowing conditions precedent shall be satisfied prior to Developer receiving any reimbursement for Eligible Co ts pursuant to tJte terms and provisions of this Agreement: (a) The Developer shall have acquired all the Property: (b) The Subdivision Improvement Agreement shall have been approved by the City and recorded in the real estate records: 6 (c) Substantially all of the Eligible Improvements that are public improvements that the Developer is required to install in connection with the Project pursuant to the Subdivision Improvement Agreement and the site plan shall be Completed: (d) An apartment complex on the Property with at least II 0 apartment units has been Completed; (e) At least 8.000 square feet of retail space shall have been Completed on th e Property; (f) Developer shall have submitted the Project Completion Certificate to the Authority, and the Authority shall not have disputed the certification in accordance with Section 5.1 hereof. provided, however. that in the event that only a portion of the Reimbursement Amount is disputed, this conditi on precedent shall be deemed satisfied with respect to the undisputed portion of the Reimbursement Amount; (g) No Events of Default by Developer shaU have occurred and be continuing under this Agreement. 4. DEVELOPER. 4.1 Acquisition. Construction and installation of Project. This Agreement shall not obligate the Developer to proceed with the Project. If Developer proceeds with the Project, Developer shall be responsible for the financing. design, acquisi tion, construction and installation of the Project. subject to the provisions in this Agreement regarding reimbursement of Eligible Costs in accordance herewith. The design and construction of the Project shaJI compl y in all material respects witl1 all applicable codes and regulations of entities having jurisdiction. including the City Requirements. Notwi thsta nding any provisions to the contrary contained herein, the Developer shall be entitled to reimbursement for Eligible Costs incurred in connection with an Eligible Improvement only if such Eligible Improvement complies with City Requirements. The Developer will use reasonable efforts to diligently pursue (i) prospective commercial lease tenants, including Vectra Bank; (ii) responsive general contractor construction bids; and (iii) all City of Wlteat Ridge development review approvals, including site plan review and building pennits, leading to the acquisition, construction, improvement and lease-up of the Project. If Developer proceeds with the Project, Developer wiJJ pay or cause to be paid aJJ required fees and costs, including those imposed by the City, in connection with the design, construction, applicable warranty requirements, and use of the Project. The Parties agree that if the Developer has not Commenced Construction of the Project by January J, 2019, that this shall not constitute an Event of Default hereunder, but that the Authority shall have the right to terminate this Agreement as set forth in Section 18. 7 4.2 Eligible Improvements. The list of Eligible Improvements set forth in Exhibi t C attached hereto may be amended at the wrirten request of Developer with the written consent of the Executive Director, unless such consent is not required pursuant to the tenns of Exhibit C. 4.3 Access to Property. Developer will permit representatives of the City and the Authority access to the Property and the Project at reasonable times during regular business hours and with prior notice as necessary for the purpose of carrying out or detem1ming compliance with this Agreement , the Urban Renewal Plan, the City Requirements or any City code or ordinance. including without limitation. inspection of any work being conducted. 4.4 Maintenance of Project. Developer shall be responsible for the maintenancl! of those portions of the Project as set forth in the Subdivision Improvement Agreement. 4.5 Appeal of Property Taxes. Developer shall provide written notice to the Authority of any requested reduction by Developer in any portion of the Property's real property tax assessed valuation or abatement of any portion of the Property's real property taxes. 4.6 Notification of Sale of Property. Developer shall provide written noti ce to the Authority of the sale of all or any portion of the Property by Developer during the tem1 of this Agreement. 5. THE AUTHORITY. 5.1 Payment of Reimbursement Amount. Upon compliance with the conduions precedent et forth in Section 3.1 relating to the payment of the Reimbursement Amount. or the Executive Director". waiver of any such conditions precL-dent. the Authority agrees that it shall reimburse Developer for Eligible Costs incurred in connection wtth the acqu1sition. constructiOn and installation of Eligible lmprovements in the Project in an amount equal to the Reimbursement Amount, but solely from the Pledged Revenues received by the Authority. The Authority will have thirty (30) days after the Developer has submitted the Project Completion Certificate to confim1 whether or not such Certificate complies with the tenns and provisions of this Agreement and whether the conditions precedent set forth in Section 3.1 have been satisfied or wa1 ed by the Executive Director. If the Authority doc not provide written appro at or disapproval withm such thirty (30) day period, the Certificate shall be deemed approved by the Authonty. If the Authority notifies the Developer in writing within such thirty (30) day period that the Authority dispute that the conditions precedent set forth in Section 3.1 have been sausfied or waived. or that there is not sufficient documentation relating to all or any portion of the Eligible Costs that have been incurred by the Developer. and sets forth a detailed explanation why the conditions precedent have not been satisfied, waived or sufficiently documented. such portion of the Reimbursement Amount that is in dispute shall not become due and payable until Developer and Authonty have resolved the dispute. The Parties agree to cooperate in good faith to resolve any dispute relating to the satisfaction of the conditions precedent set forth in Section 3.1 within thirty (30) days after either Party's written request therefor. 5.2 Special Fund ; Project Account. The Authority agree to establish the Special Fund in accordance with the provisions of the Act and to establish the Project Account as a separate trust account within the Special Fund. The Authority agrees to depo it the Pledged Tax 8 Lncremcnt Revenues into the Project Account of the Special Fund upon receipt of the same. All Pledged Tax Increment Revenues on deposit in the Project Account of the Special Fund are hereby pledged to the payment of the ote for as long a the Note remains outstanding. ln the event that Bonds are issued by the Authority to prepay the Note in whole or io part. aU Pledged Tax Increment Revenues on deposit in the Project Account of the Special Fund are hereby pledged to the payment of the Bonds for as long as the Bonds remain outstanding. In the event that the Bond and the Note are outstanding at the same time, the priority of the lien of the Bonds and the Note on such Pledged Tax lncrement Revenues sha ll be determined at the time of issuance of the Bonds with the prior written consent of Developer. 5.3 No Election Required. The Parties acknowl edge that, acco rding to the decision of the Colorado Court of Appeals in Olson v. City of Golden, 53 P.3d 747 (2002), an urban renewal authority is not a local govenunent and therefore is not subject to the provisions of Article X. Section 20 of the Colorado Constituti on. Accordingly, the Authority may enter into this Agreement with Developer, execute and deliver the Note and agree to remit the Pledged Revenues to Developer to reimburse Developer for Eligible Costs in accordance with the provisions of this Agreement without electoral authorization, and such obligations are not subject to annual appropriation. 5.4 No Impairment. The Authority wi ll not enter into any agreement or transaction that impairs the rights of the Parties, including without limitation. the right to receive and apply the Pledged Revenue in accordance with the tenns and provisions of this Agreement. 6. PAYMENT OR REIMBURSEMENT OF ELIGJB LE COSTS: NOTE FROM AUTHOR ITY. Upon compliance with the conditions precedent set forth in Section 3.1, Developer shall be reimbursed by the Authority for Eligible Costs incurred in connection with the Project, but solely from Pledged Revenues. in an amount not to exceed the Reimbursement Amo unt. The obligation to pay the Reimbursement Amount shall be evidenced by the Note to be executed by the Authority and delivered to Developer. (a) Upon the execution and delivery of this Agreement, the Authority shall execute and deli ver the Note to Developer in substantiall y the form set forth in Exhibit E attached hereto. The maximum amount of the Note shall be Four Million Eight Hundred TI1ousand Dollars ($4,800,000). Upon compliance with the conditions precedent set forth in Section 3.1, the Reimbursement Amount shall become due and payable in accordance with the terms, provisions and limitations of this Agreement. The Note shall mature on November I, 2040. (b) The Note shall be a special and limited obligation of the Authority payable solely from the Pledged Revenues. The Pledged Revenues are hereby pledged to the payment of the ate. The obligation to reimburse Developer for Eligible Costs, which obligation is evidenced by the Note, is and shall be a special and limited obligation of the Authority secured by an irrevocable pledge of. and payable solely from , the Pledged Revenues. Developer may not look to any general or other fund of the Authority for the payment of the Note except the Pledged Revenues. The Note shalt not constitute an indebtedness, financial obligation or liability of the City or the State or any county. munidpaHty or publi c body thereof, and neither the City, the State nor an y political subdivision thereof shall be liable thereon, nor in any event shall the Note 9 be payable out of any funds or properties other than the Pledged Revenues. Further, the Note shall not constitute a debt, indebtedness. financial obligation or liability of the City within the meaning of any constitutional. statutory or charter debt limitation or provision. (c) So long as the Note is outstanding, no later than November I of each year (beginning on the first November I after the conditions precedent set forth in Section 3.1 have been met). the Authority shall remit to Developer all Pledged Revenues on deposit with the Authority in the Project Account of the Special Fund. Any such Pledged Revenues remitted by the Authority to Developer shall be applied on each November I to lbc payment of the Reimbursement Amount represented by lhe otc. Developer shall note on the Table of Outstanding Reimbursement Amount attached to lhe Note the amount paid on the ote on each November I. The Authority shall remit the Pledged Revenues to Developer by wire transfer unless otherwise directed in writing by Developer. (d) The Authority shaJI have the opuon to prepay the Note in whole or in pan on any date upon payment of the amount thereof outstanding. without prepayment premium . Unle s WlliVed in writing by Developer. the Authority shall provide Developer with at least ten (I 0) businc s days' notice prior to any prepayment date. (c) The otc shall be made payable to Developer. Developer ma}' not sell or transfer the ote in part. and may not sell or transfer the ote in whole prior to Completion of Construction of the Project without the prior written consent of th~ Authority. A flcr Completion of the Project. the ote rna) be old or transferred in whole to any entity that has been a signed all the Developer's rights under thi Agreement in compl iance with the term. and provisiOn of Section 21 hereof. or wilh the prior written consent of the Authority. (t) For o long as lhe ote is out tanding, the Authonty shall not 1 sue any Bonds that are payable in whole or in part ·from the Pledged Revenues without the prior written consent of Developer. ln the event that the Authority determines to is ue Bond!> to prepay tbe ote in part. and not in whole. the Authority shall not issue such Bond wi thout the prior written consent of Developer. (g) otwithstanding any other provision contained herein. any outstandmg balance due on the Note as of the maturity date of November I. 2040 for wh1ch the Authority docs not have sufficient ava ilable Pledged Revenues to pay will be fully discharged and satisfied as of that date notwithstanding such nonpayment. Any such nonpayment shall not constitute an Event of Default hereunder or under the Note and the twenty-five (25)-year period of limitation set forth in Section 31 -25-1 07(9)(a) of lhe Act shall not be extended pursuant to Section 31-25- 1 07(9)(f) of the Act to make any payment on the ote after ovembcr I. 2040. If the Note has been discharged pursuant to this paragraph. then lhe Authority's obligation to reimburse Developer for Eligible Costs shall be deemed satisfied hereunder and Developer shall have no further rights to reimbursement under this Agreement. 7. BOOKS AND ACCOUNTS; INSPECTION OF RECORDS. Tile Authority will keep proper and current itemized records, books, and accounts in whjch complete and accurate entries wi II be made of the receipt and use of all amounts of revenue received from any and all sources and such other calculations required by this Agreement and any applicable law or regulation. 10 Developer shall keep accurate books and records of all costs incurred in connection with the design. management, acquisition, construction and warranty (as applicable) of the Eligible Impro vements, and the receipt of payment or reimbursement of Eligible Costs. During regular business hours and upon reasonable advance notice, the Authority or its designee is hereby authorized to review, at the Authority's cost and expense. Developer's books and records relating to the Eligible Improvements and the receipt of payment or reimbursement of Eligible Costs. All books. records and reports (except those allowed or required by applicable law to be kept confidential) in the pos ession of the Authority relating to the collection and disbursement of the Pledged Revenues and the payment of the Eligible Costs shall at aJI reasonable rimes be open to inspection by such accountants or other agents as the respective Parties may from time to time designate. 8. fNSURANCE. On or prior to the Commencement of Construction Developer will provide the City and the Authority with certificates of insurance showing that Developer is carrying, or causing prime contractors to carry, the following insurance: General Liability, with a general aggregate of Two Million Dollars ($2 ,000.000); fire damage of One Hundred Thousand Dollars ($1 00,000); mcdicaJ expense of Five Thousand Dollars ($5,000); products/completed operations aggregate of Two Million Dollars ($2,000.000); personal and advertising injury of One Million Dollars {Sl ,000.000) with each occurrence up to One Million Dollars ($1 ,000,000). with deductible of Twenty-five Hundred Dollars ($2.500) per claim. Excess liability shall be covered in an amount equal to Ten Million Dollars ($I 0.000.000) per occurrence/ Ten Million Dollars (S I 0,000,000) aggregate. 9. lNDEMNIFJCATION. Except as hereinafter provided, from Commencement of Construction of the Project through Completion of Construction of the Project. and for any action arising during that time period, Developer 3b'TCCS to indemnify, defend and hold harmJess the City and the Authority, its officers, agents and employees, from and against all liability. claims, demands, and expenses, including fines imposed by any applicable state or federal regulatory agency, court costs and attorney fees, on account of any injury, Joss, or damage to the extent ari sing out of any of the work to be perfonned by Developer, any subcontractor of Developer, or any officer, employee, agent, successor or assign of Developer under this Agreement. but only to the extent such injury. loss, or damage is caused by the negligent act or omission, error, professional error, mistake, accident, or other fault of Developer, any subcono-actor of Developer, or any officer, employee, agent, successor or assign of Developer, but excluding any injuries, losses or damages which are due to the gross negligence. breach of contract or willful misconduct of the City or the Authority, as the case may be. Notwithstanding the foregoing or any provision to the contrary contained herein, in the event that all or a portion of the Project is financed with a HUD-insured Section 220 or 22 I (d)(4) loan, and so long as any such Joan remains outstanding, any obligation of the Developer to provide indemnification under this Agreement shall be limited to (i) amounts mandated by State Jaw, if any, (ii) coverage afforded under any liability insurance carried by the Developer, and (iii) available ''surplus cash'. of the Developer as defined in the Regulatory Agreement executed in connection with any such loan. Unt il fund s from a pennitted source for payment of indemnification costs are available for payment. the Developer shall not (a) pay funds to any II indemnitee under this Agreement, or (b) pay the deductible on an indemnification policy for any indemnitee under this A!:,'feement. 10. REPRESENTATIONS AND WARRANTIES. I 0.1 Representations and Warranties by the Authority. The Authority reprc ents and warrants as follows : (a) The Authority is a body corporate and politic of the State of Colorado, duly organi zed under the Act, and has the power to enter into and has taken aU actions to date reqUired to authorize this Agreement and to carry out its obligations. (b) The Authority knows of no litigation, proceeding, initiative. referendum, inve ligation or threat of any of the same contesting the power.. of the Authority or its officials with respect to this Agreement that has not been disclosed in ' riting to Developer. (c) The execution and delivery of this Agreement and the documents required and the consummation of the transactions contemplated by this Agreement will not (i) conflict wi th or contravene any law, order. rule or regulation applicable to the Authority or to its goveming documents. (ii) result in the breach of any of the tenns or provisions or constitute a default under any agreement or other instrument to which the Authonty is a party or by which it may he bound or affected. or (iii) pem1it any party to tcnninate any such agreement or instrument~ or to accelerate the maturity of any indebtedness or other obligation of the Authority. (d) Tile Pledged Rc,cnucs arc not subject to any oth er or prior pledge or encumbrance, and the Authority will not pledge or encumber the Pledged Revenues . o long as the Note is outstanding without the prior written consent of Developer. (c) This Agreement constitutes a valid and binding obligation of the Authority. enforceable according to its tenns, except to the extent limited by bankruptcy. in olvcncy and other laws of gcneraJ application affecting creditors' rights and by equitable principle::.. whether considered at law or in equity. I 0.2 Representations and Warranties by Developer. Developer represents and warrants as follows: (a) Developer is a Colorado limited liability company and in good standing and authorized to do business in the State of CoJorado and has the power and the authority to enter into and perfonn in a timel y manner it. obligations under this Agreement. (b) The execution and delivery of this Agreement has been duly and validl y authorized by aJI necessary action on its part to make this Agreement valid and binding upon Developer. 12 (c) The execution and delivery of thts Agreement will not (i) conflict with or contravene any law. order. rule or regulation applicable to Developer or to Developer's governing documents, (ii) result in the breach of any of the tenns or provisions or constitute a default under any agreement or other instrument to which Developer is a party or by which it may be bound or affected, or (iii) pennit any party to tenninate any such agreement or instruments or to accelerate the maturity of any indebtedness or other obligation of Developer. (d) De veloper knows of no litigation. proceeding, initiative, referendum, or investigation or threat or any of the same contesting the powers of Developer or any of its principals or officials with respect to th is Agreement that has not been disclosed in writing to the Authority. (e) Developer has prepared or cau ed to be prepared a financing and development plan for the Project and Developer reasonably ex pects that the Pledged Revenues to be generated from the Project will be sufficient to pay the Reimbursement Amount represented by the ote prior to the maturity date of the Note. (f) This Agreement constitutes a valid and binding obligation of Developer, enforceable according to its terms, except to the extent limited by bankruptcy, insolvency and other laws of general application affecting creditors' rights and by equitable principles, whether considered at law or in equity. II . TERM. The term of t.lri s Agreement is the period commencing on the Effecti ve Date and tenninating on the date that the Note and any Bond issued by the Authority are no longer outstanding; provided, that the foJJowing provisions shall continue beyond the term of thjs Agreement: (A) any rights and remedies that a Party has fo r an Event of Default hereunder~ (B) any rights that a Party has to inspect books and records as set forth herein for a period of four (4) years following termiJlation of this Agreement; and (C) the indemnification provisjons set forth in Section 9. 12. CONFLICTS OF INTEREST. None of the following will have any personal interest, direct or indirect, in this Agreement: a member of the governing body of the Authority or tJ1e City, an employee of the Authority or of the City who exercises responsibility concerning the Urban Renewal Plan, or an individual or finn retained by the City or the Authority who has performed consulting services to the Authority or the City in connection with the Urban Renewal Plan or this Agreement. one of the above persons or entities will participate in any decision relating to the Agreement that affects his or her personal interests or the interests of any corporation, partnership or association in which he or she is directly or indirectly interested. 13. ANTI-DISCRlMrNA TION. Developer. for itself and its successors and assigns. agrees that in the construction of the Eligible lmprovements and in the usc and occupancy of the Property and the Eligible lmprovements, Developer will not discriminate agai nst any employee or applicant for employment because of race. color, creed, religion, sex, sexual orientation. disability, marital status, ancestry, or national origin. 13 14. OTICES. Any notice required or pennitted by this Agreement will be in writing and will be deemed to have been sufficientl y given for all purposes if delivered in person. by prepaid overnight express mail or overnight courier service. by certified mail or registered mail, postage prepaid return receipt requested. addressed to th e Party to whom such notice is to be gi ven (and such Party's addi tional persons to copy) at the address(es) set fonh on the signature page below or at such other or additional addresses as may be furnished in writing to lhe other Parties. The Parties may also agree on a different means of provid ing written notice hereunder. mcl uding without limitation. notice via electronic mail. Notice shall be deemed received: (i) if delivered in person. upon actual receipt (or refu al to accept delivery), (ii) if by prepaid overnight express mail or overnight courier crvice. on the fir t business day following sending of the notice. and (iii) if by cenified mail or registered mail. postage prepaid return receipt requested. on th e earlier of the date of the receipt or the third business day following sending of the notice. 15. DELAYS; FORCE MAJEURE. Subject to the following provisions. time is of the essence. Any delays in or fai lure of perfonnance by any Party of its obligations under this Al:,rrcement shall be excused if such delays or failure arc a result of acts of God, fires, fl oods. excessive rain. earthquake. strikes. labor disputes, regulation. initiative. referendum, legislation, litigation, or order of civil or military authoritie . or other cau es. similar or dissimilar. which arc beyond the control of such Pany. 16. EVE TS or DEFA ULT. 1l1c foll owing events shall constitute an E'cnt of Default un der this Agreement: (a) Any repre entation or warranty made by any Pany in this Agreement proves to have been untrue or mcomplcte in any matenal respect when made and which untruth or incompletion would have a material adverse effect upon the other Party. (b) So long as the ote remains outstandmg. the Authority fails to remu the Pledged Revenues on deposit with the Authority to Developer on or prior to November I of each year. (c) Except as otherwise provided in this A~:,rreement. any Pany fail s in the perfonnance of any other covenant tn thj s Agreement and such default continues for thiny (30) days after written notice specifying such default and requiring the same to be remedied 1s given by a non-defaulting Party to the defaulting Part y. Lf such default is not of a type which can be cured withjn such thirty (30} day period and the defaulting Party gives wrinen notice to the non-defaulting Party or Panics within such thiny (30)-day period that it is actively and diligently pursuing such cure. t11e defaulting Pany shall have a reasonable period of time given the nature of the default following the end of such thiny (30)-day period to cure such default. provided that such defaulting Party IS at all times within such additional tjme period acti vely and diligently pursuing such cure in good faith. 17. REMEDIES. Upon the occurrence and continuation of an Event of Default . the non- defaulting Party's remedies will be limited to th e right to enforce the defaulting Party's 14 obligations by an action for injunction, specific perfonnance, or other appropriate equitable remedy or for mandamus. or by an action to collect and enforce payment of sums owing hereunder, and no other remedy, and no Party will be entitled to or claim damages for an Event of Default by the defaulting Party, including without limitation, lost profits, economic damages, or actual. direct, incidental, consequential, punitive or exemplary damages. In the event of any litigation or other proceeding to enforce any of the temls, covenants or conditions of this Agreement, the prevailing party in such litigation or other proceeding shall receive. as pan of its judgment or award, its reasonable attorneys' fees and costs. 18. TERMINATION. This Agreement may be tenninated by the Developer at any time prior to the Commencement of Construction of the Project. In the event that Developer has not Commenced Construction of the Project on or prior to January I, 2019, then the Authority shall have the option to terminate this Agreement. In the event that the City Council of the City has not approved the Urban Renewal Plan on or prior to December 31 , 20 15, then the Developer and the Authority shall each have the option to terminate this Agreement. In order to tenninate this Agreement., a Party shall provide written notice of such tennination to the other Party. Such tennination shall be effective thirty (30) days after the date of such notice. without any further action by the Parties. unless prior to such time. the Parties are able to negotiate in good faith to reach an agreement to avoid such tennination. Upon such tennination, this Agreement hall be null and void and of no effect, and no action, claim or demand ma y be based on any tenn or provision of thjs Agreement, except as otherwise expressly set forth herein. In addition the Parties agree to execute a mutual release or other instruments reasonably required to effectuate and give notice of such tennination. 19. PAYMENT OF FEES AND EXPENSES. Each Party agrees to pay for its own fees, costs and expenses incurred by such Party in connection with the execution and delivery of this Agreement and related agreements and documents. 20. NONLIAB ILITY OF OFFICIALS. AGENTS. MEMBERS. AND EMPLOYEES. Except for willful or wanton action , no trustee, board member, commissioner official. employee, consultant, manager, member, shareholder anomey or agent of any Party, nor any lender to any Party or to the Project. will be personally liable under the A&rreement or in the event of any default or for any amount that may become due to any Pany. 21 . ASSJGNMENT. Except as hereinafter provided, this Agreement shall not be assigned in whole or in part by either Party without the prior written consent of the other Party: provide<l however. the following assignments and transfers will not require any such consent: (a) subject to written notice to the Authority from Developer containing the name and address of the lender or other party, Developer may pledge, collaterally assign or otherwise encumber all or any part of its rights under this Agreement, including without limitation its right to receive any payment or reimbursement, to any lender or other party that provides acquisition, construction, working capital, tenant improvement or other financing to Developer in connection with development of the Property and/or construction of the Eligible Improvements, and (b) on or after Completion of Construction of the Project and subject to written notice to the Authority from Developer, 15 Developer may assign all (,fits rights under this Agreement to any enti ty that purchases all of the Property, provided that any such entity has the financial capability and experience to manage the Project and the Developer has provided the Authority with satisfactory evidence of such financial capability and experience. Notwithstandmg anything to the contrary in this Section 21. the Authority recognizes that Developer may fonn. together with its investors. separate. special purpose entit ies to develop. own and/or operate all or a portion of the Property or of the Eligible Improvements to be constructed thereon and that one or more assignments of all or any pan of Developer's rights under thi Agreement may be required in connection with such activities and such transfer(s} will not require any consent by the Parties. 22. COOPERATION REGARDING DEFENSE. ln the event of any litigation or other legal challenge involving this At,'Tcement, the vaJ idity of the Urban Renewal Plan. or any other material part or provision of this Agreement or the ability of any Party to enter into this Agreement. the Parties \\ill cooperate and jointly defend against such action or challenge. to the extent pem1itted by law. 23 . SECTIO CAPTIONS. The captions of the Sections arc set forth only for the convenience and reference of the Parties and are not intended in any way to define. limit. or describe the scope or intent of this Agreement. 24 . ADD ITIONAL DOCUMENTS OR ACTION. (a) The Parties agree to execute an. additional documents or take an) additional action. induding without limitation estoppel documents requested or required by third parties. including without limitation, lenders. tenants or potential purchasers. that is necessary to carry out th is Abrreement or is reasonably requested by any Pany to confinn or clarify the intent of the provisions of th1s Agreement and to effectuate the agreements and the intent. otwilhstanding the foregoing, however, no Party shall be obligated to execute any additional document or take any additional action unless such document or action is reasonably acceptable to such Party. (b) If all or any portion of this Agreement. or other agreements approved in connection with this Agreement are a serted or detennined to be invalid. illegal or are otherwise precluded. the Panics. "ithin the scope of their powers and dulles. will cooperate in the jomt defense of such document and, if such defense is unsuccessfuL the Parties will use reasonable. diligent good faith efforts to amend. refonn or replace such precluded items to assure, to the extent legally pennissible. that each Party substantially receives the benefits that it would have recei ved under thi s Agreement. (c) The Executive Director shall have the authority to act on behalf of the Authority under this Agreement. 25. AMENDMENT. This Agreement may be amended only by an instrument 111 writjng signed and delivered by the Parties. 26. WAIVER OF BREACH. A waiver by any Pany to this Agreement of the breach of any term or provision of this Agreement must be in writing and will not operate or be construed as a waiver of any sub equcnt breach by any Party. 16 • 27. QOVERNLNG LAW . TI1e Jaws of the State of Colorado govern this Agreement. 28. BINDING EFFECT. TI1is Agreement will inure to the benefit of and be binding upon the Parties and their respective legal representatives, successors, heirs, and assigns, provided that nothing in thi s paragraph permits the assigrunent of this Agra:ment except as set forth in Section 21 . 29. EXECUTION fN COUNTERPARTS. This Agreement ma y be executed in several counterparts, each of which will be deemed an original and all of which will constitute but one and the same instrument. 30. LIMITED THrRD·PARTY BENEFICIARIES. Except as hereinafter provided, thi s Agreement is not intended and shall not be deemed to confer any rights on any person or entity not named as a Party to this Agreement; provided. however, that the City shall be deemed to be a third-party beneficiary under tb]s Agreement to the extent that Developer or Authority have agreed to undertake certain actions for the benefit of the City. 3 1. NO PRESUMPTION. The Parties and their attorneys have had a full opportunity to review and participate in the drafting of the final form of this Agreement. Accordingly. this Agreement will be construed without regard to any presumption or other rule of construction against the Party causing U1e Agreement to be draf\ed. 32. SEVERAB ILITY. If any provision of this Agreement as applied to any Party or to any circumstance is adjudged by a coun to be void or unenforceable~ the same will in no way affect any other provision of this Agreement, the application of any such provi. ion in any other circumstances or the validity. or enforceability of the Agreement as a whole. 33. MINOR CHANGES. This Agreement has been approved in substantially the fonn submitted to the governing bod1es of the Parties. The officers executing thi s Agreement are authorized to make and may have made, minor changes to this Agreement and attached exhibits as they have considered necessary. So long as such changes were consistent with ilie intent and understanding of the Parties at the time of approval by the governing bodies. the execution of the Agreement will constitute the approval of such changes by the respective Parties. 34. DAYS. If the day for any perfonnance or event provided for herein is a Saturday, a Sunday, a da y on whjch national banks are not open for the regular transactions of business, or a legal holiday pursuant to Section 24-1 1·1 0 I (I), C .R.S .. such day will be extended until ilie next day on whi ch such banks and state offices are open for the transaction of business. 35. GOOD FAITH OF PARTIES. In the performance of this Agreement or in considering any requested approval, consent, acceptance, or extension of time, Ute Parties agree that each will act in good faith and will not act unreasonably, arbitrarily, capriciously. or unreasonabl y withhold, condition, or delay any approval, acceptance, or extension of time required or requested pursuant to this Agreement. 36. PARTIES NOT PARTNERS. Notwithstanding any language in thi s Agreement or any other agreement, representation, or warranty to the contrary. the Parties will not be deemed to be partners or joint venturers. and no Pany is responsible for any debt or liability of any other Party. 17 37. NO WAIVER OF IMMUNITY. Nothing contained in this Agreement constitutes a waiver of sovereign immunity or governmental immwtity by the Authority under applicable state law. [The remainder of this page is intentionally left blank.] 18 IN WITNESS WHEREOF, this Agreement is executed by the Parties as of <:::)s ~ · ?Y 2015. WHEAT RIDGE URBAN RENEWAL AUTIIORITY ATTEST: ~~ Patrick Goff, Executive Director Notice Address: Wheat Ridge Urban Renewal Authority 7500 West 291h Avenue Wheat Ridge, Colorado 80033 Attention: Patrick Goff, Executive Director Email: pgoff@ci.wheatridge.co.us Notice Address: West End 38, LLC 2300 15111 Street, Suite 235 Denver, Colorado 80202 Attention: Tyler Downs Email: tdowns@wazeepartners.com WEST END 38, LLC, a Colorado limited liability company 19 EXH IBIT A-1 LEGAL DESCRIPTION OF THE PROPERTY Those parcels of land , situate. lying and being in the County of Jefferson. City of Wheat Ridge, State of Colorado. including improved land. buildings and unimproved adjacent land. more particularly known and described as follows. to wit: Parcel I: lot I, E.S. Allen Subdivisiol\ oomaining a land area of 36.491.5 square feet; Parcel 2: Tax LD Parcel #39-23 4-00-088. containing a land area of I 2.325 square feet. and a garage facility improvement; Parcel 3: Tax ID Parcel #39-234-00-089, containing a land area of 53,840 square feet, and a res1dentiaVoffice building: and Parcel 4: Tax ID Parcel #39-234-00-086. containing a land area of 57.150 square feet. and an officctbank building. EXHIBIT A-2 LEGAL DESCRIPTION OF THE WEST END 38 TlF AREA JILUSTRA110N POll ZONB LOI' III'Cam•'IDD II' a;uM :IIAJe II' MCJD(M. 'm ..... GI,_IDIP.II. CII'YCJr......,IIIXaUAMit GP&I&Smt.ftABGP<XIAaADO PatfT ()( 8£CIMIQ $11'34 ..... 131.18' 11'--.&..-.. VICINITY MAP ,._,., D4JII. ZONE LOT 1G'7.537 SQ. n.. 4.535 ACR£S :t IN .. A-I ~- " I I I LEGAL DESCRJPTION FOR WE TEND 38 TIF AREA A PARCEL OF LAND LOCATED IN THE SOUTHEAST 1/4 OF SECTIO 23, TOWNSHIP 3 SOUTH. RA GE 69 WEST OF THE 6m PRINCIPAL MERIDIAN. AND THE NORTHEAST J/4 OF SECTION 26. TOWNSHIP 3 SOUTH. RANGE 69 WEST OF THE 6rtt PRI CIPAL MERIDIAN CITY OF WHEAT RJDGE. COUNTY OF JEFFERSON. STATE OF COLORADO. BEING MORE PARTICULARLY DESCRJBED AS FOLLOWS: COMMENCING AT THE SOUTH 1/4 CORNER OF SECTIO 23 FROM WHE CE THE SOUTHEAST CORNER OF SAID SECTION 23 BEARS N 89°38'24'' E A DISTANCE OF 2633.65 FEET WITH ALL SEARl GS HEREIN RELATIVE THERETO. THE CE N 75°46'40" E A DISTANCE OF 542.64 FEET TO THE POI"'T Of BEGINNI G. THE CE 00°10'12" W. ALONG THE WEST UNE OF A PARCEL OF LAND AS DESCRIBED IN DEED RECORDED IN JEFFERSO COUNTY RECORDERS OFfiCE UNDER RECEPTIO NUMBER F005061 lA DISTANCE OF 200.55 FEET: THE CE 89°38'12'' E. ALO G THE NORTH LINE OF SAID PARCEL A DISTANCE OF I 31. 3 FEET TO THE SOUTHWEST CORNER OF LOT I. E S. ALLE SUBDIVJS IO AS RECORDED IN JEFFERSON COUNTY RECORDERS OFFICE UNDER RECEPTIO NUMBER 20 I 0000090: THE CE 00°12'07" W. ALONG THE WEST LINE OF SAID LOT I A DISTA CE OF 119.99 FEET: THE CE 89°38'48" E. ALO G THE NORTH L1 E OF SAID LOT I A DISTA CE OF '\54.09 FEET TO THE EAST RJGIIT OF WAY L1 E OF UPHAM STREET AS PER EASEME T DOCUMENT RECORDED IN JEFFERSON COUNTY RECORDERS OFFICE UNDER RECEPTIO NUMBER 9411 3597, THENCE S 00°13'03" E. ALONG SAID EAST RJGHT OF WAY Ll E A DISTANCE OF 483.0 1 FEET TO THE SOUTH RJGHT OF WAY LINE OF WEST 38TH A VENUE AS PER EASEME\JT DOCUMENTS RECORDED IN JEFFERSON COUNTY RECORDERS OFFICE UNDER RECEPTION NUMBERS 90086570.90086575,90086572 AND 90086573 : THENCE S 89°38'24" W, ALONG SAID SOUTH RJGHT OF WAY LINE A DISTA CE OF 354.42 FEET: THENCE N 00°11'13" W. A DISTANCE OF 162.65 FEET TO THE SOUTH LINE OF A PARCEL OF LA D AS DESCRJBED IN DEED RECORDED rN JEFFERSO COU TY RECORDERS OFFICE UNDER RECEPTION NUMBER F005061 I A: THENCE S 89°34'48" \V. ALONG SAID SOUTH LINE A DISTANCE OF 131 79 FEET TO THE POINT Of BEGINNI G. CONTAINING: 197.537 SQUARE FEET OR 4.535 ACRES OF LAND. MORE OR LESS. 2 EXHIBIT B DESCRIPTION OF THE PROJECT The Project consists of the redevelopment of approximately 3.67 acres of the Property, which is located at the nonhwest comer of West 38'h Aven ue and Upham Street in the City of Wheatridge. The Project is expected to be constructed in two phases. The Project is zoned for Mixed Use-Commercial (MU-C) and shall meet all the setbacks and design standards as per the City of Wheat Ridge zoning code. It is ex pected that along 38th Avenue, the Project wil1 feature street-fronting ground fl oor retai l shops and restaurants with two levels of residences above for a total of three stories. Further west on the Property will be a free standing bank building. Behind these two buildings will be a parking courtyard with approximately 88 parking spaces and a fo ur story residentiaJ building. The residential building will in clude a parking structure with approximatel y 138 parking spaces. The Project will consist of approximately ISO residences and approximately 13,800 square feet of retail space. B-1 EXHIB ITC ELIGIBLE IMPROVEMENTS The Eligible Improvements are set fonh in the table below. The costs for the Eligible Improvements as set fonh in the table below are estimates. The cost amount in each line item in the table below may be increased or decreased as directed by Developer. Accordingly, cost savings in one line item may be appli ed to increase the amoun t of reimbursable costs in other line items. However. notwithstanding any other provision of this Agreement, Eligible Costs to be paid or reimbursed from the Pledged Revenues shall not exceed Four Million Eight Hundred Thousand Dollars ( 4,800,000) as set fonh in this Agreement, and shall be paid or reimbursed solely from Pledged Revenues in accordance with the Agreement. TOTAL ELIGIBLE IMPROV EMENTS ELIGIBL E COSTS Dem olition and En' ironmental Abatement S290.869 Utilities (Wa ter, Sewer, Electric, Gas. Stann I. I 31,689 Water and Rel ocations/Burying Streets. Sidewalk . Plaza. Hardscape. 1.308.409 Ln ndscapmg and Facades Parking Garage 2.378.167 Soft Cost (Architecture. Engmeering. 837.343 Pennitting. Financing. Legal and Fees) Total $5.946,476 C-1 EXHJBJTD FORM OF PROJECT COMPLETION CERTIFICATE Wheat Ridge Urban Renewal Authority 7500 West 29th Avenue Wheat Ridge. Colorado 80033 Attention: Executive Director The undersigned representative of West End 38, LLC (the "Developer'') hereby makes the following certifications in accordance with the tenns and provisions of section 3.1 (a) of the Redevelopment Agreement dated as of _, 20 IS (the "Redevelopment Agreement") be1wecn the Wheat Ridge Urban Renewal Authoriry and Developer. All capitaJized tenns used herein and not otherwise defined shall have the meanings set forth in the Redevelopment Agreement. The following conditions have been satisfied or waived in wri ting by the Executive Director: 1. The Property has been acquired by the Developer. 2. Substantially all of the Eligible Improvements that are public improvements that Developer is required to install pursuant to the Subdivision Lmprovement Agreement and the site plan have been Completed. 3. An apartment complex on the Property with at least II 0 apartment units has been Completed. 4. At least 8,000 quare feet of retail space has been Completed on the Property. 5. No Events of Default by Developer have occurred and are continuing under the Redevelopment Agreement. The total amount of Eligible Costs for which reimbursement is requested is S (which amount shall not exceed $4.800,000). Attached to this Certificate is documentation related to the Ellgible Costs incurred by the Developer in connection with the financing, acquisition. construction and installation of the Eligible Improvements for which such reimbursement is requested. The foregoing certification shaH constitute the Project Completion Certificate under the Redevelopment Agreement. West End 38, LLC, a Colorado limited liability company Date: _________ _ By. ________________________________ __ Name: Title: D-1 Within thjny (30) days of receipt of thjs Cenificatc by the Authority. the Authorit y shall complete the applicable provision below and remit to Developer: The Authority hereby verifies that: (a) this Project Completion Cenifi~te complies with the tenns and conditions of the Red evelopment Agreement and that the conditions precedent set fonh in Section 3.1 of the Redevelopment Ahrreement have been satisfied or waived in writi ng by the Executi ve Director. and (b) the documentation submitted with this Cenificate is sufficient to verify that the Reimbursement Amount requested pursuant to this Cenificate has been allocated to the resmbursemcnt of Eligible Costs incurred in connection with Eli!:,rible Improvements in accordance wi th the Redevelopment Agreement. The Authority hereby notifies Developer that (a) the Authority disputes that the conditions precedent et fo nh in Section 3.1 of the Redevelopment Agreement have been satisfied or waived, and/or (b) that the documentation submitted with this Certificate is not sufticient to verify that the total Reimbursement Amount requested pursuant to thi Cenificate is for the reimbursement of Eligible Cost incurred in connection with Eligible Improvements. Set fonh below is a detailed explanation of the reasons why the Authority dispute that these conditi ons precedent have been satisfied or waived or that such documentation ss insufficient: WHEAT RIDGE URBA N RENEWAL AUTHORITY Date: __________ _ By: _________________ _ Name: Title: D-2 EXHIBIT E FORM OF NOTE PROMISSORY NOTE MAXIMUM AMOUNT: US $4,800.000 . 2015 FOR VALUE RECEIVED. WHEAT RIDGE URBAN RENEWAL AUTHOR ITY DIBIAI RENEWAL WHEAT RIDGE , a public body corporate and politic duly organized and existing as an urban renewal authority under the laws of the State of Colorado (hereinafter referred to as ''Authority''), promises to pay to the order of West End 38, LLC, a Colorado limited liability company, and it successors (hereinafter referred to as "Developer''). at the office of Developer, or such place as Developer may from time to time designate in writing, the maximum sum of FOUR MILLION EIGHT HUNDRED THOUSAND DOLLARS (US S4,800,000) or such lesser amount due from the Authority to Developer pursuant to the terms of the Redevelopment Agreement dated of even date herewith (the "Redevelopment Agreement'') by and between the Authority and Developer. in lawful money of the United States of America. All capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed in the Redevelopment Agreement. This Note shall evidence the obligation of the Authority to pay the Reimbursement Amount to Developer in accordance with the terms and provisions of the Redevelopment Agreement. but solely from the Pledged Revenues. No interest shall accrue on this Note. This Note shall mature on overnber I. 2040. otwith tanding any provisions to the coaurary contajned herein or in the Redevelopment Agreement, no amounts shall be due and payable under this Note unless or until the conditions precedent set forth in Section 3.1 of the Redevelopment Agreement have been satjsfied or waived by the Executive Director. All payments hereunder shall be made to Developer in accordance with the Redevelopment Agreement. This Note shan be payable. mature and be enforceable pursuant to the terms and provisions of the Redevelopment Agreement. Upon receipt of any payments made by the Authority on this Note, Developer shall record the payments so received on the Table of Outstanding Reimbursement Amount attached to this Note and by this reference made a part hereof. This Note shall be a special and limited obligation of the Authority payable solely from the Pledged Revenues. The Pledged Revenues are hereby pledged to the payment of this Note. The obligation to reimburse Developer for Eligible Costs, which obligation is evidenced by thi s Note, is and shall be a special and limited obligation of the Authority secured by an irrevocable pledge of, and payable solely from the Pledged Revenues. Developer may not look to any general or other fund of the Authority for the payment on this Note except the Pledged Revenues. This Note shall not constitute an indebtedness, financial obligation or liability of the City or the State or any county. municipality or public body thereof. and neither rhe City, the State nor any political subdivision th ereof shall be liable thereon, nor in an y event shall thjs Note E-1 be payable out of any funds or properties other than the Pledged Revenues. Further. this ote shall not constitute a debt, indeb tedness, financial obligation or liability of the City within the meaning of any constitutional, statutory or charter debt limitation or provision. This Note is governed by and interpreted in accordance with the laws of the State of Colorado. Pu rsuan t to Section 1 1-57-21 0 of th e Colorado Revised Statutes. as amended. this ote is entered into pursuant to certain provisions of the Supplemental Public Securities Act. being Title II. Article 57. of the Colorado Revised Statutes, as amended. Such recital shall be conclusive evidence of the validity and the regularity of the issuance of this otc after delivery for value. If any provtsion in this ote is held invalid. illegal or unenforceable in any juri diction. the validit y. legality or enforceability of any defective provisions shall not impair the validity. legali ty or enforceability of any other provision of this Note. All notices under this Note must be ent to the addresse gi,·en in. and in accordance with the provisions of, the Redevelopment Abrreement. THE PROVI 10 S OF THIS OTE MAY BE AMENDED OR REVISED 0 LY BY AN I STRUMENT IN WRITI G SIGNED BY THE AUTHORITY AND DEVELOPER. WIT 'ESS WHEREOF, an authori7cd reprcsentatt\'e of the Wheat Ridge Urban Renewal Authority dlb/a/ Renewal Wheat Ridge has executed thi~ Promi sory Note as of the day and year first above wrinen. [SEAL] ATTEST: Patrick Goff. Executive Director WHEAT RIDGE URSA l RE EWAL AUTHORITY Kristi Davis. Chairperson E-2 TABLE OF OUTSTANDING REIMBURSEMENT AMOUNT Total Reimbursement Amount Due Under this Note: ____ _ Date of Project Completion Cenificate: ----- On each November I. the owner of this Note shall make the appropriate notation on the table below relating to the payment of amounts due on thi s Note. Beginning Date Outstanding Balance Amount Paid on Note Remaining Balance . E-3 EXHIBIT F FORM OF SUBDIVISION IMPROVEME T AGREEMENT THIS AGREEMENT made this of , by and between the CITY OF WHEAT RIDGE, COLORADO. a home rule municipal corporation (the •city"), and , (the "Developer"), together referred to as the HParties". RECITALS: The Developer is the owner of certain real property located in the City of Wheat Ridge, which is more particularly described in Exhibit A and made a part hereof (the "Property"), commonly known as--------------- On , the City Council of the City of Wheat Ridge, after holding all required public hearings, approved the final plat for the Property titled A copy of the Final Plat is at1ached hereto as Exhibit B and incorporated herein. The approvals cited above are contingent upon the express condition that all duties created by this Agreement be faithfully performed by the Developer. AGREEMENT NOW, therefore, for and in consideration of the mutual promises and covenants contained herein. the sufficiency of which are mutually acknowledged, the parties hereto agree as follows: 1. Purpose. The purpose of this Agreement is to set forth the terms, conditions, and fees to be paid by the Developer upon subdivision of the Property. All conditions contained herein are in addition to any and all requirements of the City of Wheat Ridge Subdivision Ordinance and Zoning Ordinance, the City of Wheat Ridge Charter. any and all state statutes. and any other sections of the City of Wheat Ridge Municipal Code and are not intended to supersede any requirements contained therein. 2. Other Requirements. See Exhibit at1ached hereto. 3. Fees. The Developer hereby agrees to pay City Development Review fees to the City for engineering, hydrological, surveying, legal, and other services rendered in connection with the review of the subdivision of the Property. 4. Parkland dedication fee-in lieu. Fees in lieu of land dedication. when required, shall be calculated pursuant to the formula in Section 26-413 and shall be paid at the time of plat recordation. f--1 5. Title Policy. Prior to recording of the final plat (or, if no plat Is associated with the development; prior to and as a condition of final approval of the development by the City), title commitment for all those portions of the Property, as well as any other interests in real property (easements, etc.) to be reserved for public purposes or dedicated to the City shall be provided to the City. The title commitment shall show that all such property is or shall be, subsequent to the execution and recording of this Agreement, free and clear of all liens and encumbrances (other than real estate taxes which are not yet due and payable) which would make the dedication or reservation unacceptable as the City deterTT'Iines in its reasonable discretion. The City, in its sole discretion, may accept any dedication regardless of encumbrances. The title policy evidenced by the title commitment shall be provided within thirty (30) days after the recording of this Agreement. in an amount equal to the fair market value of the property so dedicated or reserved . 6. Breach by the Developer: the City's Remedies. In the event of a breach of any of the terms and conditions of this Agreement by the Developer. the City Council shall be notified immediately and the City may take such action as permitted and/or authorized by law, this Agreement or the ordinances and Charter of the City as the City deems necessary to protect the public health, safety and welfare; to protect lot buyers and builders; and to protect the citizens of the City from hardship and undue risk. These remedies include, but are not limited to: (a) The refusal to issue any building permit or certificate of occupancy; (b) The revocation of any building permit previously issued under which construction directly related to such building permit has not commenced, except a building previously issued to a third party, (c) A demand that the security given for the completion of the Public Improvements be paid or honored, or (d) Any other remedy available at law or In equity. Unless necessary to protect the immediate health, safety and welfare of the City or to protect the City's Interest with regard to security given for the completion of the Public Improvements, the City shall provide the Developer thirty (30) days written notice of its Intent to take any action under this paragraph during which thirty day period the Developer may cure the breach described in the notice. 7. Public Improvements and Warranty. All storTT'I sewer lines. drainage structures, paved streets, curb, gutter and sidewalk, including the undergrounding of all overhead utilities, and necessary appurtenances as shown on the subdivision plat and the associated construction documents (the "Public Improvements" or "Improvements") as approved by the Director of Public Works or designee of the City, shall be installed and c-ompleted at the expense of the Developer within the timeframes set forth in Section 1 0 of this Agreement. The itemized costs of the Public Improvements required by this Agreement and shown on the construction documents approved by the Director of Public Works of the City are set forth on Exhibit C. All Public Improvements covered F-2 by this Agreement shall be made in accordance with the construction documents drawn according to regulations and construction standards for such improvement and approved by the Director of Public Works of the City. It is understood by the Parties that the description of the Public Improvements may be general in nature. and that reasonable modifications of the scope, nature, costs, and similar aspects of the Public Improvements may be necessary to secure final approval of the Public Improvements. The quantities and locations for the Public Improvements are based on information that was available at the time of approval of the Final Plat. Additional Public Improvements may be required, and Developer shall be responsible for submitting revisions to the Final Plat approved by the City. The Public Improvements shall be substantially complete, with only such exceptions as shall be approved in advance by the Director of Public Works in the exercise of his or her sole discretion, prior to the issuance of the first Building Permit. The Developer shall also warrant any and all Public Improvements which are conveyed to the City pursuant to this Agreement for a period of two (2) years from the date the City's Director of Public Works certifies that the same conforms to the specifications approved by the City. Specifically, but not by way of limitation, the Developer shall warrant the following: (a) That the title conveyed shall be marketable and its transfer rightful; (b) Any and all facilities conveyed shall be free from any security interest or other lien or encumbrance: and (c) Any and all facilities so conveyed shall be free of defects in materials or workmanship for a period of two (2) years as stated above. (d) To the degree the Developer is required to install and maintain landscaping on public or private property, it is the obligation of Developer and its successors and assigns, to maintain the required landscaping in perpetuity. The City will finally accept for maintenance all Public Improvements. exclusive of landscaping materials, after the warranty period has expired provided all warranty work has been completed. The City shall accept for snow removal purposes only, all dedicated public streets after the City issues the first certificate of occupancy. 8. Installation of Traffic Signal. A traffic signal may be required to serve this development. Determination of the need for the signal shall be made by the City's Public Works Director, hereinafter "Director", prior to building permit issuance and based upon a traffic study for this development approved by the City. The Developer shall provide collateral for the estimated cost of installation of the traffic signal prior to building permit issuance, if the Director has determined that a signal is needed. Prior to building permit issuance, the Developer shall provide traffic signal plans for approval by the Developer and the Colorado Department of Transportation. F-3 The Developer shall notify the City in writing, a minimum of one hundred sixty (160) days prior to the desired Ume of Installation/modification of the traffic signal in order to allow the City to coordinate the timing of the traffic signal improvements. If the Director approves installation of the signal based on meeting traffic warrants. the City shall then notify the Developer in writing of the exact amount required for the traffic signal improvements. The Developer shall then make payment to the City In cash for the required amount within sixty (60) days of receipt of such letter. The City will not commence traffic signal improvements until the Developer has paid to the City the total amount detennlned by the Director to be the total cost of improvements. 9. Observation. Inspection and Testing. The City shall have the right to require reasonable engineering observations and testing at the Developers expense. Observation and testing, acquiescence in, or approval by any engineering inspector of the construction of physical facnities at any particular time shall not constitute the approval by the City of any portion of the construction of such Public Improvements. Such approval shall be made by the City, only after completion of construction and In the manner hereinafter set forth. The Director is designated by the City to exercise authority on Its behalf under this Agreement and to see that this Agreement is performed according to its terms. Work under this Agreement may, without cost or claim against the City, be suspended by the Director for substantial cause. The Director shall, within a reasonable time after presentation, make decisions in writing on all claims of Developer and on all other matters relating to the execution and progress of the work or the interpretation of this Agreement, the master plan and specifications. All such decisions of the Director shall be final. The Director shall make all detennlnations of amounts and quantities of work performed hereunder. To assist him in this work Developer shall make available for inspection any records kept by Developer. The Director shall make all determinations of amounts and quantities of work performed hereunder. To assist him in this work Developer shall make available for inspection any records kept by Developer. The Director and his authorized representatives shall have free access to the work at all times, and Developer shall furnish them with facilities for ascertaining whather the work being perfonned, or the work which has been completed, is In accordance with the requirements of the Agreement. The Director will make periodic observations of construction (sometimes commonly referred to as •supervision·). The purpose of these observations and construction checking is to determine the progress of the work and to see if the work is being performed in accordance with the plans and specifications. He will in no way be F-4 responsible for how the work is performed, safety in, on . or about the job site. methods of performance. or timeliness in the performance of the work. Inspectors may be appointed to inspect materials used and work done. Inspections may extend to all or any part of the work and to the preparation or manufacture of the materials to be used. The inspectors will not be authorized to alter the provisions of this Agreement or any specifications or to act as foreman for Developer. The Inspector will have authority to reject defective materials and to suspend any work that is being done improperly, subject to the final decision of the Director. 10. Completion of Public Improvements. The obligations of the Developer provided for in paragraph 6 of this Agreement. including the inspections hereof. shall be performed on or before , and proper application for acceptance of the Public Improvements shall be made on or before such date. Upon completion of construction by the Developer of such Improvements, the City's Director of Public Works or designee. shall inspect the Improvements and certify with specificity its conformity or lack thereof to the City's specifications. The Developer shall make all corrections necessary to bring the Improvements into conformity with the City's specifications. Once approved by the City's Director of Public Works. the City shall accept said Improvements upon conveyance: provided, however. the City shall not be obligated to accept the Public Improvements until the actual costs described in this Agreement are paid in full by the Developer. 11 . Protection. Developer. at its expense, shall continuously maintain adequate protection of all Improvements from damage prior to acceptance by the City and shall protect the City's property from injury and loss arising in connection with this Agreement. Developer shall make good any such damage, injury or loss except such as may be caused directly by authorized agents or employees of the City. Developer shall adequately protect adjacent property and shall provide and maintain all passageways, guard fences, lights and other facilities for protection required by public authority or local conditions. Developer shall be responsible for damage to any public and private property on and adjacent to the site of Developer's Improvements caused by negligent or willful acts of Developer, its agents or subcontractors. Developer shall take all reasonable effort necessary to prevent damage to pipes, conduits, and other underground structures and to overhead wires, and to water quality. Developer shall protect carefully from disturbance or damage all land monuments and property marks until an authorized agent of the City has witnessed or otherwise referenced their location, and shall not remove them until directed. When any direct or indirect damage or injury is done to public or private property by or on account of any act, omission, neglect or misconduct in the construction of Improvements, or In consequence of the non-execution thereof on his part, such damaged property shall be restored by Developer at its own expense to a condition similar or equal to that existing before such damage or injury. F-5 Developer shall at all times, whether or not so specifically directed by the Director, take necessary precautions to insure the protection of the public. Developer shall furnish, erect and maintain, at its own expense, all necessary barricades, suitable and sufficient red lights, construction signs. provide a sufficient number of watchmen, and take all necessary precautions for the protection of the work and safety of the public through or around his construction operations as Developer and the Director shall deem reasonabJy necessary. 12. Related Costs -Public Improvements. The Developer shall provide all necessary engineering designs, surveys. field surveys, testing and incidental services related to the construction of the Public Improvements at its sole cost and expense, Including final drainage study letter certified accurate by a professional engineer registered in the State of Colorado. 13. Improvements to be the Property of the City. All Public Improvements for roads, concrete curb and gutters, public storm sewers and public drainage improvements accepted by the City shall be dedicated to the City and warranted for a period of twenty-four (24) months following acceptance by the City, as provided above. 14. Performance Guarantee. In order to secure the construction and installation of the Public Improvements the Developer shall, prior to recording the Final Plat, if applicable, in the real estate records of Jefferson County, which recording shall occur no later than ninety (90) days after the execution of this Agreement. furnish the City, at the Developer's expense, with the Performance Guarantee described herein. The Performance Guarantee provided by the Developer shall be an irrevocable letter of credit In which the City is designated as beneficiary, for one hundred twenty-five percent (125%) of the estimated costs of the Public Improvements to be constructed and installed as set forth in Exhibit C, if applicable to secure the performance and completion of the Public Improvements as required by Section 26-418 Security for Required Improvements, of the Wheat Ridge Subdivision Regulations. The Developer agrees that approval of this Agreement by the City is contingent upon the Developer1s provision of an Irrevocable letter of credit to the City within ninety (90) days of the execution of this Agreement in the amount and form provided herein. Failure of the Developer to provide an irrevocable letter of credit to the City In the manner provided herein shall negate the City's approval of this Agreement. Letters of credit shall be substantially in the form and content set forth in Exhibit D. if applicabte. and shall be subject to the review and approval of the City Attorney. The Developer shall not start any construction of any public or private improvement on the Property including, but not limited to, staking, earthwork, overtot grading or the erection of any structure, temporary or otherwise, untll the City has received and approved the irrevocable letter of credit. The estimated costs of the Public Improvements shall be a figure mutually agreed upon by the Developer and the City's Director of Public Works. as set forth in Exhibit C if applicable. If, however, they are unable to agree. the Director of Public Works' estimate shall govern after giving consideration to informatjon provided by the F-6 Developer including, but not limited to, construction contracts and engineering estimates. The purpose of the cost estimate is solely to determine the amount of security. No representations are made as to the accuracy of these estimates, and the Developer agrees to pay the actual costs of all such Public Improvements. The estimated costs of the Public Improvements may increase in the future. Accordingly. the City reserves the right to review and adjust the cost estimate on an annual basis . If the City adjusts the cost estimate for the Public Improvements, the City shall give written notice to the Developer. The Developer shall, within thirty (30) days after receipt of said written notice, provide the City with a new or amended letter of credit in the amount of the adjusted cost estimates. If the Developer refuses or fails to so provide the City with a new or amended letter of credit, the City may exercise the remedies provided for in this Agreement; provided. however, that prior to increasing the amount of additional security required. the City shall give credit to the Developer for all required Public Improvements which have actually been completed so that the amount of security required at all time shall relate to the cost of required Public Improvements not yet constructed. In the event the Public Improvements are not constructed or completed within the period of time specified by paragraph 9 of this Agreement or a written extension of time mutually agreed upon by the parties to this Agreement, the City may draw on the letter of credit to complete the Public Improvements called for in this Agreement. In the event the letter of credit is to expire within fourteen {1 4) calendar days and the Developer has not yet provided a satisfactory replacement, the City may draw on the letter of credit and either hold such fund s as security for performance of this Agreement or spend such funds to finish Public Improvements or correct problems with the Public Improvements as the City deems appropriate. Upon completion of performance of such improvements, conditions and requirements within the required time, the Developer shall issue an irrevocable letter of credit to the City in the amount of twenty·five percent (25%) of the total cost of construction and installation of the Public Improvements, to be held by the City during the warranty period. If the Public Improvements are not completed within the required time, the monies may be used to complete the improvements. 15. Indemnification. The Developer shall indemnify and hold harmless the City and its officers. employees, agents or servants from any and all suits, actions, and claims of every nature and description caused by, arising from or on account of this Agreement any act or omission of the Developer, or of any other person or entity for whose act or omission the Developer is liable. with respect to the Public Improvements; and the Developer shall pay any and all judgments rendered against the City as a result of any suit, action. or claim, together with all reasonable expenses and attorney's fees and costs Incurred by the City in defending any such suit, action or claim. The Developer shall pay all property taxes on the Property dedicated to the City and shall indemnify and hold harmless the City for any property tax liability. F-7 16. Waiver of Defects. In executing this Agreement, the Developer waives all objections it may have concerning defects, If any, In the formalities whereby it is executed, or concerning the power of the City to impose conditions on the Developer as set forth herein. and concerning the procedure, substance~ and form of the ordinances or resolutions adopting this Agreement. 17. Third Party Beneficiaries. There are and shall be no third party beneficiaries to this Agreement. 18. Modifications. This instrument 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. There shall be no modification of this Agreement except in writing, executed with the same formalities as this Instrument. Subject to the conditions precedent herein, this Agreement may be enforced in any court of competent jurisdiction. 19. Release of Liability. It is expressly understood that the City cannot be legally bound by the representations of any of its agents or their designees except In accordance with the City of Wheat Ridge Code of Ordinances and the laws of the State of Colorado. 20. Captions. The captions to this Agreement are Inserted only for the purpose of convenient reference and In no way define, limit, or prescribe the scope or intent of this Agreement or any part thereof. 21 . Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, and assigns as the case maybe. 22. No Waiver. No waiver of any of the provisions of this Agreement shall be deemed or constitute a waiver of any other provisions herein, nor shall such waiver constitute a continuing waiver unless otherwise expressly provided, nor shall the waiver of any default hereunder be deemed a waiver of any subsequent default hereunder. 23. Invalid Provision. If any provision of this Agreement shall be determined to be void by any court of competent jurisdiction, then such determination shall not affect any other provision hereof, all of the other provisions shall remain in full force and effect. It is the Intention of the Parties that if any provision of this Agreement is capable of two constructions, one of which would render the provision void, and the other which would render the provision valid, then the provision shall have the meaning which renders it valid. 24. Governing Law. The laws of the State of Colorado shall govern the validity, performance and enforcement of this Agreement. Should either party institute F-8 legal suit or action for enforcement of any obligation contained herein, venue of such suit or action shall be in Jefferson County, Colorado. 25. Attorneys Fees. Should this Agreement become the subject of litigation to resolve a claim of default of performance or payment by the Developer and a court of competent jurisdiction finds in favor of the City. the Developer shall pay the City's attorney's fees and court costs. 26. Notice. All notices required under this Agreement shall be in writing and shall be hand delivered or sent by registered or certified mail, return receipt requested. postage prepaid. to the addresses of the parties herein set forth. All notices so given shall be considered effective seventy-two (72) hours after deposit in the United States mail with the proper address as set forth below. Either party by notice so given may change the address to which future notices shall be sent. Notice to Developer: Notice to City: Director of Public Works 7500 West 29th Avenue Wheat Ridge, CO 80033 27. Force Majeure. Whenever the Developer is required to complete the construction, repair, or replacement of Public Improvements by an agreed deadline, the Developer shall be entitled to an extension of time equal to a delay in completing the foregoing due to unforeseeable causes beyond the control and without the fault or negligence of the Developer including, but not restricted to. acts of God, weather. fires and strikes. 28. Assignment or Assignments. There shall be no transfer or assignment of any of the rights or obligations of the Developer under this Agreement without the prior written approval of the City. 29. Recording of Agreement. This Agreement shall be recorded in the real estate records of Jefferson County and shall be a covenant running with the Property in order to put prospective purchases or other Interested parties on notice as to the terms and provisions hereof. 30. Title and Authoritv. The Developer,------------- expressly warrants and represents to the City that it is the record owner of the property F-9 constituting the Property and further represents and warrants, together with the undersigned individual(s) that the undersigned individual(s) has or have full power and authority to enter into this Subdivision Improvement Agreement. The Developer and the undersigned indlvidual(s) understand that the City is relying on such representations and warranties in entering into this Agreement. WHEREFORE, the parties hereto have executed this Agreement on the day and year first above written. By: ATTEST: Janelle Shaver, City Clerk APPROVED AS TO FORM: Gerald Dahl, City Attorney STATE OF COLORADO CITY OF WHEAT RIDGE, COLORADO Joyce Jay, Mayor DEVELOPER By: ________________________ __ ) ) SS. COUNTY OF ________________________ ~ The foregoing instrument was acknowledged before me this ____ day of _____________ .20 ___ ,by _______________________ ,as __________________ of ________________________________ ___ Witness my hand and official seal. My commission expires:---------------------- Notary Public (S EAL ) f·IO Attachment 2 dE • ! ):z: ft ! I>,. ~· J ~ I --_j~ ·' West End 38 Conditions Survey City of Wheat Ridge, Colorado Surveyed October 2015 and Submitted November 2015 Prepared for: Renewal Wheat Ridge Wheat Ridge City Council Prepared by: RickeriCunningham 8200 South Quebec Street, Suite A3-104 Centennial, CO 80112 303.458.5800 phone 303.458.5420 fax www.rickercunningham.com Attachment 3 West End 38 Conditions Survey City of Wheat Ridge, Colorado Table of Contents Section 1.0 Introduction Section 2.0 Definition of Blight Section 3.0 Study Methodology Section 4.0 Survey Area History Section 5.0 Summary of Findings Section 6.0 Summary of Factors Figures Figure 1: Conditions Survey Area Boundaries Figure 2: Location of Sites Under Review by the EPA Tables Table 1: West End 38 Survey Area, Property Ownership Table 2: Criminal Incidents, 2010 to 2014 2 4 6 10 11 16 1 West End 38 Conditions Survey City of Wheat Ridge, Colorado 1.0 Introduction The following report, the West End 38 Conditions Survey (the "Survey") was prepared for Renewal Wheat Ridge (the "Authority") and the City of Wheat Ridge City Council (the "City") in October 2015. The purpose of this work was to analyze conditions within a defined Survey Area (also referred to here as "the Survey Area" or "Area") located within the City of Wheat Ridge and Jefferson County, Colorado, in order to determine whether factors contributing to blight are present and whether the Area may, therefore, be considered eligible as an urban renewal area under the provisions of the Colorado Urban Renewal Law (the "Law" or "Statute"). The Survey Area includes four (4) legal parcels and right-of-way area, comprising approximately 4.535 acres and located at the northwest corner of West 38m Avenue and Upham Street in the city of Wheat Ridge. As illustrated in Envision Wheat Ridge, the city's Comprehensive Plan, approved by the City Council in October 2009, the Area is designated as a Mixed-Use Commercial Area, which will, over the long-term receive "infill and redevelopment investment, with a high quality urban design and landscaping, on vacant or underutilized properties" and as a Main Street Corridor, encouraging "small-scale mixed-use infill and redevelopment activities." The Area currently contains two vacant residential structures along 38th Avenue, a vacant auto repair building located adjacent to Upham Street, and a Vectra Bank building along its western edge. Figure 1 on the following page illustrates the extent of the Survey Area and its relationship to surrounding development and roadways. As explained above, this West End 38 Conditions Survey represents a necessary step in the determination of blight and establishment of an urban renewal area for the purpose of mitigating and eliminating adverse conditions that are delaying or preventing investment within its boundaries. It is also an important step in advancing community goals set out in the City's comprehensive planning documents, specifically related to infill development, redevelopment and commercial corridor revitalization. 2 ~·~ ... ·-..... .•. - Rocbr CuMinghAm Figure 1: Conditions Survey Area Boundaries-West End 38 0 100 --==-.:=:J , .. 10 0 'Nest End 38 Urban Renewal Plan Boundary -'Nest End 38 Urban Renewal Plan Parcels .... ~ 8 I f ... Nl~ 3 2.0 Definition of Blight A determination of blight is a cumulative conclusion based on the presence of several factors (physical, market, and other) defined by state law. In reality, it is not just their presence that contributes to the deterioration of an area, but rather the multiplicative impacts that tend to bleed beyond individual parcel boundaries to the rest of the community. For purposes of this Survey, the definition of a blighted area is the same as that provided in the Colorado Urban Renewal law which reads as follows: "Blighted area" means on area that, in its present condition and use and, by reason of the presence of at least four of the following factors, substantially Impairs or arrests the sound growth of the municipality, retards the provision of housing occommodotians, or constitutes on economic or social liability, and is o menace to the public health, safety, morals, or welfare: (a) Slum, deteriorated, or deteriorating structures; (b) Predominance of defective or inadequate street layout; (c) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; (d) Unsanitary or unsafe conditions; (e) Deterioration of site or other improvements; (f) Unusual topography or inadequate public improvements or utilities; (g) Defective or unusual conditions of title rendering the title non- marketable; (h) Existence of conditions that endanger life or property by fire or other causes; (I) Buildings that are unsafe or unhealthy for persons to live or work in because of building code violations, dilapidation, deterioration, defective design, physical construction, or faulty or inadequate facilities,· (j) Environmental contamination of buildings or property; (k.S) Existence of health, safety, or we/fore factors requiring high levels of municipal services or substantial physical underutilizotion or vacancy of sites, buildings, or other improvements; (I) If there is no objection of such property owner or owners and the tenant or tenants of such owner or owners, if any, to the inclusion of such property in an urban renewal area, "blighted area" also means an area that, in its present cond;rlan and use and, by reason of the presence of any one of the factors specified in paragraphs (a) to (k.5) of this subsection (2), substantially impairs or arrests the sound growth of the 4 municipality, retards the provision of housing accommodations, or constitutes an economic or socialliobi/ity, and is a menace to the public health, safety, morals or we/fore. For purposes of this porograph (1), the fact that an owner of an interest in such property does not object to the inclusion of such property in the urban renewal area does not mean that the owner has waived any rights of such owner in connection with laws governing condemnation. Source: Colorado Revised Statute 31-25-103(2). While the conclusion of whether an area constitutes a legally "blighted area" is a determination left to municipal legislative bodies, this Survey provides detailed documentation of the aforementioned physical, environmental and social factors as they exist within the boundaries defined herein. Note: It is not legally necessarv for every factor to be present in an area in order for it to be considered "blighted". In addition. a given factor need not be present on each and everv parcel or structure to be counted. but rather. only needs to be present somewhere in the ar.e.a as a whole. In other words, the presence of one or more well-maintained, non-blighted buildings or parcels does not necessarily preclude a finding of blight for the area in which blighting factors are present1. Rather, an area qualifies as blighted when four or more factors are present (or five factors, in cases where the use of eminent domain is anticipated). As explained in item (I) above, this threshold may be reduced to the presence of one blighting factor in cases where no owners of property or other business interest within its boundaries objects to inclusion in an urban renewal area, as is the case here. This Factor (I) applies in this instance, whereas the Area 's primary owner, and other owners and interests, do not object to inclusion in an urban renewal area. Despite the statutorily allowable lower threshold (presence of one factor), every effort was made to identify all factors that are present and impacting the Area. With this understanding, the West End 38 Conditions Survey presents an overview of factors within the Survey Area sufficient to make a determination of blight. Section 5.0 (Summary of Findings), specifically, provides conclusions regarding the presence of qualifying conditions in the Survey Area; however, the Wheat Ridge City Council will make the final determination as to whether the Area constitutes a "blighted area" under the Colorado Urban Renewal Law. 1 While not cl early addressed in Colorado Urban Renewal law, this interpretation has been favored by the courts. 5 3.0 Study Methodology RlckeriCunningham personnel conducted field investigations during October 2015 for the purpose of documenting conditions within the categories of blight listed above and described In greater detail below. Pertinent Geographic Information Systems (GIS) data from the City of Wheat Ridge was obtained and subsequently analyzed; and, discussions with City of Wheat Ridge Staff conducted, along with various other technical sources; of which the collective results of these efforts are discussed herein. Whereas the 11 factors listed in the Urban Renewal Law (see Section 2.0 of this report and below) contain few specific details or quantitative benchmarks to guide the conditions survey process, RickeriCunningham has developed a checklist of more specific categories of blighting conditions within each statutory factor to aid in their Identification and characterization. This checklist has been used in nearly 80 urban renewal conditions surveys for more than 40 communities in Colorado and the Southern and Western United States. (a) Slum, deteriorated, or deteriorating structures This factor is sai d to be present when the physical condition of structures in the area present specific life-safety concerns. Sub-categories include deterioration or absence of the following: • Roof • Wa lls fascia board and soffit • Foundation • Gutters and downspouts • Exterior finish • Windows and doors • Stairways and fire escapes • Mechanical equipment • loading areas • Fences, walls and gates • Other non-primary structures 6 (b) Predominance of defective or inadequate street layout This factor is said to be present when the layout (or non-existence} of streets or roads creates problems for health, safety, welfare or sound development. Sub-categories include inadequate or elevated: • Vehicular access • Internal circulation • Driveway definitions and curb cuts • Parking layout • Traffic accident history (c) Faulty lot layout in relat ion to size, adequacy, accessibility, or usefulness This factor is said to be present when lot size or configuration inhibits or is likely to inhibit sound development. Sub-categories include inadequate or unsafe: • Lot shape or layout • Vehicular access-parcels with poor access are usually found to have both category (b) and (c) present • Lot size (d) Unsanitary or unsafe conditions This factor is said to be present when safety hazards and conditions are likely to have adverse effects on the health or welfare of persons in the area due to problems with a lack of infrastructure. Sub-categories include the presence of: • Poorly lit or unlit areas • Cracked or uneven sidewalks • Hazardous contaminants • Poor drainage • Flood hazards • Steep slopes • Unscreened trash or mechanical equipment • Pedestrian safety issues • High crime incidence • Lack of fire protection 7 • Vagrants, vandalism and graffiti (e) Deterioration of site or other improvements This factor is related to factor (a), and said to be present when la nd and/or structures have been either damaged or neglected. Sub-categories include the presence of, deteriorating or lack of: • Billboards • Signage • Poorly maintained properties, streets, and other public improvements • Trash, debris and weeds • Parking surfaces, curbs and gutters • landscaping (f) Unusual topography or inadequate public improvements or utilities This factor represents the combination of two formerly separate factors. To that end, it is said to be present when the topography is incompatible with development (hilly, sloped, etc.) or properties are lacking complete public infrastructure. Sub-categories include the presence of, deteriorating or lack of: • Slopes or unusual terrain • Street pavement • Cu rb and gutter • Street lighting • Overhead utilities • Sidewalks • Roads • Water and sewer service • Storm water quality and drainage improvements (g) Defective or unusual conditions of title rendering the title non-marketable This factor is said t o be present when there are problems with the marketability of property titles, including unusual restrictions, unclear ownership, etc. Due to the expense 8 of title searches, this blight factor is typically not examined unless developers or land owners provide documentation of known problematic title Issues. (No sub-categories). (h) Existence of conditions that endanger life or property by fire or other causes This factor is said to be present when site and I or building maintenance or use issues exist that may threaten site users. This factor also includes potential threats from fire or other causes. Sub-categories include the presence of: • Fire safety problems • Hazardous contaminants • High frequency of crime • Floodplain and flood hazards (I) Buildings that are unsafe or unhealthy for persons to live or work in because of building code violations, dilapidations, deterioration, defective design, physical construction, or faulty or inadequate facilities This factor is said to be present when primary improvements, specifically those described in the context of factors (a) and (d) above, as well as property, poses a danger to the extent that habitation and/or daily use is considered unsafe. Sub-categories include the presence or lack of: • Hazardous contaminants • Fire safety infrastructure • Unsafe building facilities • All of the factors listed under (h) above 0) Environmental contamination of buildings or property This factor is said to be present when there exist threats from chemical or biological contamination. Unlike category (i) above, this factor can be said to exist even when such contamination does not pose a direct health haza rd, so long as it causes ot her problems (i.e. inhibits development). Sub-categories include the presence of: • Hazardous contaminants 9 (k.S) Existence of health, safety, or w elfare factors requiring high levels of municipal services or substantial physical underutilizatlon or vacancy of sites, buildings, or other improvements This factor is said to be present when properties or their improvements are underutilized; or, there is a disproportionate amount of public service being provided. For instance, properties generating frequent calls for police or fire service or code enforcement often require more than their share of services. Sub-categories include the presence of: • High frequency of fire calls • High crime incidence • Site and building underutilization • All of the factors listed under (d) and (h) above 4.0 Survey Area Description and Project Concept The Survey Area includes four (4) legal parcels and right-of-way area, comprising approximately 4.535 acres and located at the northwest corner of West 38th Avenue and Upham Street in the City of Wheat Ridge, Colorado. As illustrated in Table 1, the parcels are owned by two entities -- Olive Street Development Co, LLC and Wadsworth Building Corporation (Vectra Bank Colorado)- -and are zoned Mixed-Use Commercial (MU-C). As shown in the Envision Wheat Ridge Comprehensive Plan, the Area is designated as a Mixed-Use Commercial Area, "focusing on long-term infill and redevelopment, reinvestment and high quality urban design and landscaping for vacant or underutilized properties" and as a Main Street Corridor, encouraging "small-scale mixed-use infill and redevelopment activities." Table 1 West End 38 Survey Property Ownership Parcel Number Property Ownership 39-234-00-086 Wadsworth Building Corporation 39-234-00-088 Olive Street Development Co, llC 39-234-00-089 Olive Street Development Co, LLC 39-234-04-030 Olive Street Development Co, UC City of Wheat Ridge Right of Way Total: Source: Jefferson County Assessor Land Area "of Area 57,150 sf 28.93% 12,325 sf 6.24% 53,840 sf 27.26% 36,491.5 sf 18.47% 37,730.5 sf 19.1% 197,537 square feet or 4.535 acres 10 5.0 Summary of Findings The presence of blight that " ... substantially impairs or arrests the sound growth of the municipality, retards the provision of housing accommodations, or constitutes on economic or sociolliobility, and ts o menace to the public health, safety, morals, or we/fore ... " [Colorado Revised Statute 31-25-103(2)) It is the conclusion of this report that, within the Survey Area, there are physical conditions sufficient to meet criteria established in the Act as "blight ing factors." Specifically, nine of the possible 11 blight factors were found to be present including: b) predominance of defective or inadequate street layout; c) faulty lot layout in relation to size, adequacy, accessibility, or usefulness; d) unsanitary or unsafe conditions; e) deterioration of site or other improvements; f) unusual topography or Inadequate public improvements or utilities; (h) existence of conditions that endanger life or property by fire or other causes; (i) buildings that are unsafe or unhealthy for persons to live or work in; U) environmental contamination of buildings or property; and (k.S) substantial physical underutilization or vacancy of sites, buildings, or other improvements. Each of these is described in greater detail below. (b) Predominance of defective or inadequate street layout Predominance of defective or inadequate street layout can be considered present when: existing roads, either serving or within an area, are insufficient to meet the current or future needs (based on 1oning) of land uses (capacity) within an area when developed or redeveloped; there are no roads serving the area; or, roads that are in place are deteriorating or substandard. Note: "Substandard" is a definition based on established municipal standards. Whereas there are no roadway improvements within the Area making internal circulation impossible, Factor b Is considered present for this reason alone. However, there are additional conditions associated with Factor b that also impact the Area. For instance, curbs and gutters along existing roadways are inconsistent, as are improvements for non-vehicular movement including sidewalks, lighting, and bicycle lanes. 11 An additional condition considered in the context of this factor is the frequency of traffic incidents in and around the Area. As noted in the Envision Wheat Ridge Comprehensive Plan, the 38th and Wadsworth interchange, just three blocks west of the Survey Area, is the third highest traffic accident location in the City. (c) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness Because faulty streets often produce faulty lots, particularly when they impact vehicular access, properties within the Survey Area that suffer from conditions associated with Factor b also suffer from Factor c for the reasons explained above. Further, the severity of their impact is different for commercial versus residential properties. For instance, commercial properties that lack access and visibility are at a significant competitive disadvantage to those with these characteristics. In fact, in some cases, a lack of either or both can render a property with limited or no value. Similarly, commercial properties that are too small to accommodate necessary levels of parking also suffer from a competitive disadvantage. While the Area's shape and size are not a detriment to redevelopment, since it is envisioned to develop with a mix of residential and commercial uses, its current lack of access is a significant detriment for future commercial uses. While less impactful for future residential uses, its lack of non-vehicular accommodations and connections to adjacent commercial and employment concentrations presents a challenge for thi.s product type. (d) Unsanitary or unsafe conditions Factors that were identified contributing to unsafe conditions within and surrounding the Survey Area included insufficient improvements for non-vehicular and vehicular movement due to ill-defined access points, as explained under Factors b and c above. Experience has shown that a lack of certain types of infrastructure, particularly those that support safe vehicular and non-vehicular movement, can render properties vulnerable to unlawful activity. Table 2 summarizes information provided by the City of Wheat Ridge Police Department for the period 2010 to 2014, within the 38th Avenue Corridor, where the Area is located. As shown, the Area has seen an average number of criminal 12 incidents of 399 per year, or approximately 4.4 percent of all incidents within the City and the highest of all designated redevelopment areas within the City during the same timeframe. Among the average annual399 incidents, approximately 43 percent were property crimes, 23 percent were suspicious activity; 18 percent were disturbances; and 9 percent classified as crimes against persons. Table 2 Criminal Incidents, 2010 to 2014 West End 38 and City-Wide 38th A""nut tome!<>< ifVD<t.oiiDCidut 1010 ZO~I AnirNI Cruelty 3 6 Dhtur~nc. 41 73 Dt>lu/Aicohol 7 7 Person.s Crime 30 38 Poli .. Aulsl u 14 Property Ctlrm 201 192 SuipldouoAttovll'! 92 85 Wtttpon$ Offen•e 0 2 foul 38S 417 City. Wide Typo ollnddent 2010 2011 Aru~l Cruttlry HO 160 OJJ.turb•n" 2.~ 2.305 'Oruits/.Aicohol 173 lAO Pers.onsCtlme 1,075 1,.141 Pollee As.sht 449 .... Property Ctlrne 2,411 2.559 Su~_p:le;oui Att,vlty 2,226 2.244 Wtlpon.sOHtnH 61 42 TOU!I 8,189 .9.)35 Source: Wheat Ridge Police Department To ... lnci~nu lOU mu 1014 ~yr-.... "ofTOUII "ofCiiV 5 ~ q 6 1.6% ·~ 80 88 75 71 17.9% 3."' 10 8 10 8 2.1% ·-"' 38 36 29 34 S.eli< 32!> 14 10 9 14 3.~ 3.1% ISO 145 ~74 113 43.4% 6~ sa 88 lOO 91 22.?'1. 3&% 0 l 2 1 O.lt> ~ 389 l9S .. m 1.00.~ ... Totallnqdonu lOU l()IJ 1014 S.yr .... 140 146 ~ l54 2.Wi 2.191 2,373 2.296 189 151 206 192 1.099 1.028 966 1.062 488 4111 '378 440 2.m 2,703 2.503 2.590 2,261 2,503 2,661 2.380 38 45 38 45 9361. t.lOI .t,JJO 9161 This factor also considers the presence of hazardous contaminants, sufficient to require costly remediation. As reflected in Figure 2, there are three (3) sites and /or facilities that are included in the database for the Environmental Protection Agency (EPA) and noted as sites under review. Given their adjacency to the Survey Area and potential impact on properties within its boundary, this factor is considered to be present. (e) Deterioration of site or other improvements In the context of developed properties, this factor generally considers the absence or condition of parking, landscaping, and signage largely based on expectations based on their zoning. Within the Survey Area, there are numerous instances of 13 Figure 2: location of Sites Under Review by the EPA 0 100 --==--==::~ , ... 10 CJ West End 38 Urban Renewal Plan Boundary -West End 38 Urban Renewal Plan Parcels e Sites Subject to EPA Regulation ., 2 g I I ... NIM 14 parking surface deterioration, lack of landscaping, presence of weeds (neglect}, and substandard signage (not to municipal code). (f) Unusual topography or inadequate public improvements or utilities Parcels within the Study Area are relatively level, therefore there are no significant grade changes. However, infrastructure improvements within its boundaries are both inadequate and absent. Curb and gutter is inconsistent along 38th Avenue and does not exist on Upham Street. An existing driveway into the Survey Area is not improved. In addition, overhead utilities are present along Upham Street. While their presence is allowed and not unusual on and within municipal parcels and along transportation corridors, they are considered a visual and functional condition which contributes to blight. In terms of the street infrastructure surrounding the Area, while capable of supporting redevelopment ofthe subject parcels, curb and gutter, sidewalk and lighting infrast ructure is inconsistent and w ill require improvement with redevelopment of the parcels. (h) Existence of conditions that endanger life or property by fire or other causes The presence of conditions that endanger properties within the Area have been discussed previously in the context of Factor (d) ... unsanitary or unsafe conditions, specifically related to: a lack of site and I or building maintenance; insufficient infrastructure to allow for safe movement and use; environmental threats such as flood zones and contamination; and, a lack of protective equipment from fires and other causes. (i) Buildings that are unsafe or unhealthy for persons to live or work in The presence of unsafe buildings is discussed above in the context of Factor (d) ... unsanitary conditions specifically related to a lack of infrastructure to protect 15 structures from fire. However, other threats to persons within buildings include adverse conditions addressed throughout this Section 5.0 and summarized in conjunction with the presence of Factor (h) above. U) Environmental contamination of buildings or property Based on review of information available by the EPA, three (3) parcels located near the Survey Area have conditions present that are either under review or being monitored by their organization. Specific conditions considered in the context of this Factor 0) include those primarily associated with chemical and I or biological contamination. Unlike Factor (j) above, this factor can be said to exist even when the contamination does not necessarily pose a direct health hazard, but rather creates other obstacles (including financial) to property investment or reinvestment. (k.S) Existence of health, safety, or welfare factors requiring high levels of municipal services or subst antial physical underutilization or vacancy of sites, buildings, or other improvements Although the urban renewal law defines this factor as including either high levels of municipal services Q! underutilization or vacancy, this Factor k.S is considered present within the Survey Area due to the fact t hat a disproportionately high level of criminal incidents have been identified in the Area, and buildings within its boundaries are vacant and properties underutilized. While vacancies among properties within a municipality are not unusual, in this instance, the fact that the single commercial structure within its boundaries has only one tenant, Vectra Bank, while the remainder of inline spaces are vacant, despite higher occupancy rates among properties surrounding the Area, thereby supporting a reasonable expectation of occupancy levels equal to those of comparable projects in the vicinity of the Area. 6.0 Summary of Factors As explained earlier in this report, it is not legally necessary for every factor to be 16 present In an area in order for it to be considered "blighted". In addition, a given factor need not be present on each and every parcel or structure within an area to be counted, but rather, only needs to be present somewhere in the area as a whole. As shown, nine (9) of the 11 possible factors were found, to some extent, within the Survey Area. Additionally, all nine factors were present to a degree that appeared likely to have a significantly negative impact on the public's safety and we/fore and impede the ability for sound growth and development. 17 West End 38 Urban Renewal Plan Table of Contents Section 1.0 Introduction 3 1.1 Preface 1.2 Blight Findings 1.3 Other Findings 1.4 Urban Renewal Plan Area Boundaries 1.4.1 Map of West End 38 Urban Renewal Plan Area 1.5 Public Participation Section 2.0 Definitions 6 Section 3.0 Plan Purpose and Vision 7 3.1 Plan Vision 3.2 Plan Objective 3.3 Plan Goals 3.4 Plan Implementation Section 4.0 Blight Conditions 10 Section 5.0 Plan Relationship to Other Community Documents 12 5.1 Plan Conformity 5.2 Consistency with the Comprehensive Plan and Corridor Plan 5.3 Correlation with Other Community Plans Section 6.0 Authorized Urban Renewal Undertakings and Activities 16 6.1 Complete Public Improvements and Facilities 6.2 Complete Other Improvements and Facilities 6.3 Promote Development and Redevelopment 6.4 Adopt Standards 6.5 Modify the Plan 6.6 Review the Plan 6.7 Provide Relocation Assistance 6.8 Demolish, Clear and Prepare Improvements 6.9 Acquire and Dispose of Property 6.10 Enter Into Redevelopment I Development Agreements West E11 d 38 Urbn 11 Re 11cwnl Pln11 (12 .14.2015) Attachment 4 1 West End 38 Urban Renewal Plan Table of Contents (cont'd) 6.11 Enter Into Cooperation Agreements 6.12 Tax Increment Area Section 7.0 7.1 7.2 7.3 Project Financing Public Investment Objective Financing Mechanisms Tax Increment Financing 7 .3.1 Special Fund 7.3.2 Base Amount 7.3.3 Incremental Revenues 7.4 Other Financing Mechanisms and Structures Section 8.0 Severability Appendix A: Excerpts from the Envision Wheat Ridge Comprehensive Plan, adopted October 12, 2009 and 381h Avenue Corridor Plan, adopted October 2011 21 24 Appendix B: Legal Description and Supporting Illustration for the Urban Renewal Plan and Tax Increment Financing Area Wt•s t End 38 Urhn11 Renewal Pln11 (12.14.2015) 2 West End 38 Urban Renewal Plan City of Wheat Ridge, Colorado 1.0 Introduction 1.1 Preface This West End 38 Urban Renewa l Plan (the "Plan" or the "Urban Renewal Plan") has been prepared for the City of Wheat Ridge ("City"). It will be carried out by Renewal Wheat Ridge, the City of Wheat Ridge urban renewal authority (the "Authority''), pursuant to the provisions of the Urban Renewal Law of the State of Colorado, Part 1 of Article 25 of Title 31, Colorado Revised Statutes, 1973, as amended (the "Act"). The administration and implementation of this Plan, including the preparation and execution of any documents implementing it, shall be performed by the Authority. 1.2 Blight Findings Under the Act, an urban renewal area is a blighted area, which has been designated as appropriate for an Urban Renewal Project. In each urban renewal area, conditions of blight, as defined by the Act, must be present, and in order for the Authority to exercise its powers, the City Council must find that the presence of those conditions of blight, "substantially impairs or arrests the sound growth of the municipality or constitutes an economic or social liability, and is a menace to the public health, safety, morals or welfare." The West End 38 Urban Renewal Plan Area Conditions Survey, prepared by RickeriCunningham, dated November, 2015, and presented to the Authority under separate cover, demonstrates that the West End 38 Area (the "Study Area") as defined in the Survey, is a blighted area under the Act. 1.3 Other Findings The Area, as defined in Section 1.4 below, is appropriate for one or more urban renewal activities and undertakings authorized by the Act to be advanced by the Authority. Wes t £uti 38 Urbnu Rcllcwnl Plnn (12.14.2015) 3 It is the intent of the City Council in adopting this Plan that the Authority has available to it any and all powers authorized in the Act which are necessary and appropriate to accomplish the objectives stated herein. Further, it is the intent of this Plan that the Authority exercises these powers for the elimination of qualifying conditions in the West End 38 Urban Renewal Plan Area (the "Plan Area" and the "Area") and furtherance of the goals and objectives of the community's general plan. The powers conferred by the Act are for public uses and purposes for which public money may be expended. This Plan is in the public interest and necessity -such finding being a matter of legislative determination by the City Council. 1.4 Urban Renewal Area Boundaries The Area includes four legal parcels and right-of-way area, comprising approximately 4.535 acres and located at the northwest corner of West 38th Avenue and Upham Street in the City of Wheat Ridge, Colorado. As illustrated in Table 1, the parcels are owned by two entities, Olive Street Development Co, LLC and Wadsworth Building Corporation (Vectra Bank Colorado), and are zoned Mixed-Use Commercial (MU-C). As shown in the Envision Wheat Ridge Comprehensive Plan, adopted October 2009, the Area is designated as a Mixed-Use Commercial Area, "focusing on long-term infill and redevelopment, reinvestment and high quality urban design and landscaping for vacant or underutilized properties" and as a Main Street Corridor, encouraging "small-scale mixed-use infill and redevelopment activities." The Area currently contains two vacant residential structures located along 38th Avenue within the eastern portion of the Area, a vacant auto repair building located within the northeast quadrant of the Area west of Upham Street, and a Vectra Bank building located within the interior of the Area. The Urban Renewal Plan Area Map is presented as Figure No.1 on the following page. Table 1 West End 38 Urban Renewal Plan Survey Area -Property Ownership Parcel Number Property Ownership Land Area %of Area 39-234-00-086 Wadsworth Building Corporation 57,150 sf 28.93% 39-234-00-088 Olive Street Development Co, LLC 12,325 sf 6.24% 39-234-00-089 Olive Street Development Co, LLC 53,840 sf 27.26% 39-234-04-030 Olive Street Development Co, LLC 36,491.5 sf 18.47% City of Wheat Ridge Right of Way 37,730.5 sf 19.1% Total: 197,537 square feet or 4.535 acres Source: Jefferson County Assessor Wc·st £nd 38 Urllfln Rcncwnl Pln11 (12. 14.2015) 4 Figure No. 1: West End 38 Urban Renewal Plan Area 100 --==--=::::::JFMI 0 10 W~tst End 38 Urbnn Rcnewnl Plnu (12.14.2015) c:J West End 38 Urban Renewal Plan Boundary -West End 38 Urban Renewal Plan Parcels .., ~ g I f ~ NIM 5 1.5 Public Participation Notification of the public hearing was provided to property owners, residents and owners of business concerns at their last known address of record within the Area as required by the Act. Additionally, all property owners have been provided written consent for their property to be included within the Area, and notice of the public hearing to consider the Plan was published in the Wheat Ridge Transcript as required by the Act. The City Planning Commission reviewed the Plan on November 19, 2015, and found that the Plan is consistent with the Comprehensive Plan. The City Council reviewed and approved the Plan at a public hearing on December 14, 2015. 2.0 Definitions Act -means the Urban Renewal Law of the State of Colorado, Part 1 of Article 25 of Title 31, Colorado Revised Statutes, as amended. Unless otherwise stated, all capitalized terms herein shall have the same meaning as set forth in the Act. Area or Plan Area-means the West End 38 Urban Renewal Plan Area as depicted in Figure No. 1 and described in Appendix B of this Plan. Authority-means Renewal Wheat Ridge, the City urban renewal authority (the "Authority"). Base Amount -means that portion of property taxes which are produced by the levy at the rate fixed each year by or for each public body upon the valuation for assessment of taxable property in a Tax Increment Area last certified prior to the effective date of approval of the Plan; and, that portion of municipal sales taxes collected within the boundaries of the Tax Increment Area in the twelve-month period ending on the last day of the month prior to the effective date of approval of the Plan. City Council -means the City Council of the City of Wheat Ridge. Comprehensive Plan -means the Envision Wheat Ridge Comprehensive Plan, adopted 2009. Cooperat ion Agreement -means any agreement between the Authority and the City, or any public body (the term "public body" being used in this Plan as defined by the Act) respecting action to be taken pursuant to any of the powers set forth in the Act or In any other provision of Colorado law, for the purpose of facilitating public undertakings deemed necessary or appropriate by the Authority under this Plan. Corridor -generally represents linear areas along major arterial streets and including commercial corridors. We~t E11tl 38 Url>nn Rt'II I!Wn l Plnu (1 2."14 .2015) 6 C.R.S.-means the Colorado Revised Statutes, as amended from time to time. Impact Report -means the West End 38 Urban Renewal Plan -Jefferson County Impact Report prepared by RickeriCunningham, dated November 2015 and presented to the Authority under separate cover. Plan or Urban Renewal Plan -means this West End 38 Urban Renewal Plan (the "Plan"). Project or Urban Renewal Project -for purposes of this Plan, the Project includes any and all undertakings and activities within the Plan Area to remedy or prevent blighted conditions or otherwise achieve the goals of the Plan. Redevelopment I Development Agreement-means one or more agreements between the Authority and developer(s) and I or property owners or such other individuals or entities as may be determined by the Authority to be necessary or desirable to carry out the purposes of this Plan. Study Area -means the geographic area defined for the Survey. Survey -means the West End 38 Urban Renewal Plan Area Conditions Survey, prepared by RickeriCunningham, dated November 2015 and presented to the Authority Board under separate cover. Tax Increment -means that portion of property and I or municipal sales taxes in excess of the base amount set forth in Section 7.3.2 of this Plan allocated to and, when collected paid into the Authority's Tax Increment Revenue Fund. Tax Increment Area -means the area designated as a Tax Increment Area, as defined and pursuant to the procedures set forth in Section 6.12 of this Plan. Tax Increment Finance (or Financing) (TIF) -means a financing mechanism which uses future revenues resulting from private investment within an established area (Tax Increment Area) to fund improvements for the public benefit. Tax Increment Revenue Fund -means a fund supervised by the Authority and the resources of which include incremental ad valorem property and municipal sales tax revenue resulting from investment and reinvestment in an established urban renewal area. 3.0 Plan Purpose and Vision The purpose of this Plan is to reduce, eliminate and prevent the spread of blight and to stimulate and catalyze growth and investment within the Area boundaries. To accomplish this purpose, the Plan is intended to promote local objectives expressed in adopted community plans and advance the priorities of the Comprehensive Plan. The Envision Wheat Ridge Comprehensive Plan was adopted in 2009. Presented below in Section 5.0, are excerpts (taken West Eurl 38 Url1n11 Re11ewn/ Plnu (12.14.2015) 7 verbatim) from the Comprehensive Plan that describes how implementation of Urban Renewal Projects within the Area will advance the vision and goals expressed in that document. Also provided are excerpts (taken verbatim) from the 391h Avenue Corridor Plan, adopted 2011, which will similarly be addressed by these Urban Renewal Projects. Additional excerpts from both documents are presented in Appendix A of this Plan. 3.1 Plan Vision As expressed in the City's general plan and numerous subarea and corridor plans, Wheat Ridge desires to be a prominent and sustainable community, with a prosperous future built upon the foundation of the community's major assets (comfortable neighborhoods, unique cu lture and history, abundant open space, terrific views, and proximity to Denver and the Rocky Mountains). Additionally, the city will grow a brood and resilient local economy that provides family wage jobs and thriving business districts to balance with the community's friendly and established neighborhoods. Finally, Wheat Ridge will offer convenient transportation options, valuable services, and high quality of life for all residents. Also confirmed is the City's recognit ion that attaining this vision will require on aggressive approach and willingness of the community to embrace change. 3.2. Plan Objective The objective of this Plan is to alleviate conditions of blight by actively promoting investment and reinvestment within the Area; and, to make financial resources available to assist its partners (private, public, non-profit and others) with addressing those conditions of blight identified herein, and explained in greater detail in the West End 38 Conditions Survey, especially those that render undertakings or Investment within its boundaries infeasible. 3.3 Plan Goals All development in the Area shall conform to the zoning code and any site-specific zoning regulations or policies which might Impact properties, all as are in effect and as may be amended from time to time. Although the Act authorizes the Authority to: undertake zoning and planning activities to regulate land use, establish maximum or minimum densities, and institute other building requirements in an urban renewal area, for the purpose of this Plan, the Authority anticipates that the City will regulate land use and building requirements through existing municipal codes and ordinances. We sf E 11 d 3 8 U r /1 n 11 R c 11 t'll' n I PIn 11 ( 1 2. 1 4 . 2 0 1 5) 8 General goals of the Plan include redevelopment of properties within its boundaries for the purpose of generating revenue sufficient to fund public improvements that address conditions of blight and facilitate investment. Specific goals include: 1. Eliminate and prevent blight by facilitating redevelopment. 2. Implement elements of the Comprehensive Plan. 3. Support and advance actions identified in existing plans related to development of vacant and under-utilized parcels that are consistent with the vision of this Plan. 4. Provide public infrastructure and make more efficient use of existing land. 5. Promote sustainability-development, fiscal, resource, etc. 6. Advance uses that can leverage public investment in planned improvements including multiple modes of transportation (vehicular and non-vehicular). 7. Enhance the public realm including streetscape amenities, trail connections and other pedestrian-friendly improvements in a manner consistent with the existing community character. 8. Encourage economic sustainability throughout the community and growth in appropriate locations. 9. Provide a range of financing mechanisms for improvements. 10. Provide additional opportunities for residential development to support commercial uses in the Area. 11. Support existing industry by encouraging a stronger jobs-housing balance. 12. Encourage growth and stability in local businesses. 13. Facilitate public-private partnerships. 3.4 Plan Implementation As the plan administrator, the Authority will seek to advance the Plan objectives through the following if deemed necessary: • Financing of redevelopment undertakings and activities and critical infrastructure; and • Agreements with private, public and other partners to undertake redevelopment undertakings and activities. West End 38 Urbn11 Re 11ewnl Pln11 (12.14.2015) 9 The Authority will work in cooperation with the City to advance the objective and its goals through: • Investment in the public realm (roadway, parks, open space); • Encouragement of development consistent with or exceeding existing standards; • Provision of supportive programs to existing area businesses; and • Judicious use of limited resources. 4.0 Blight Conditions Before an urban renewal plan can be adopted by the City, the Area must be determined to be a "blighted area" as defined in Section 31-25-103(2) of the Act, which provides that, in its present condition and use, the presence of at least one of the following factors in the Area if all property owners consent (four of the factors if property owner consent is not expressly obtained or five of the factors in cases where the use of eminent domain is anticipated), substantially impairs or arrests the sound growth of the municipality, retards the provision of housing accommodations, or constitutes an economic or social liability, and is a menace to the public health, safety, morals, or welfare: (a) Slum, deteriorated, or deteriorating structures; (b) Predominance of defective or inadequate street layout; (c) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; (d) Unsanitary or unsafe conditions; (e) Deterioration of site or other improvements; (f) Unusual topography or inadequate public improvements or utilities; (g) Defective or unusual conditions of title rendering the title nonmarketable; (h) The existence of conditions that enda nger life or property by fire or other causes; (i) Buildings that are unsafe or unhealthy for persons to live or work in because of building code violations, dilapidation, deterioration, defective design, physical construction, or faulty or inadequate facilities; (j) Environmental contamination of buildings or property; (k.S) The existence of health, safety, or welfare factors requiring high levels of municipal services or substantial physical underutilization or vacancy of sites, buildings, or other improvements; or Wes t Ellt/38 Urbn11 /{ellcwnl P/1111 (12.14.2015) 10 (I) If there is no objection by the property owner or owners and the tenant or tenants of such owner or owners, if any, to the inclusion of such property in an urban renewal area, "blighted area" also means an area that, in its present condition and use and, by reason of the presence of any one of the factors specified in paragraphs (a) to (k.S) of Section 31-25-103(2), substantially impairs or arrests the sound growth of the municipality, retards the provision of housing accommodations, or constitutes an economic or socia l liability, and is a menace to the public health, safety, morals, or welfare. As stated above, factor "I" above applies when there is no objection by the Area's property owner or owners. However, despite the statutory allowance for the presence of fewer factors when creation of an urban renewal area is being requested voluntarily, every effort was made during preparation of the West End 38 Conditions Survey, dated November 2015, to identify all factors impacting investment within its boundaries. Additionally, all property owners have provided written consent for their property to be included within the Area. The general methodology for conducting the Survey is to: (i) define the Study Area; (ii) gather information about properties, infrastructure and other improvements within that Area; (iii) evaluate evidence of blight through field reconnaiss ance, review of aerial photography, discussions with representatives of various City departments; and, (iv) record observed and documented conditions listed as blight factors in the Act. Among the 11 qualifying factors identified in the Act, the Survey showed the presence of the following nine (9) blight factors in the Study Area which is the subject of this Plan and presented herein as Figure 1. (b) Predominance of defective or inodequote street layout-ill-defined driveways, particularly along Upham Street; lengthy curb cuts along 38th Avenue and no curb cuts along Upham Street; and, increasing trend of traffic accidents and incidents (c) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness-one lot that is too small to redevelop according to municipal standards; another lot with an irregular shape leaving significant portions undevelopable without and assemblage; irregular and absent curb cuts making access confusing and potentially dangerous Wes t E11d 38 Urbnn Reii(!Wnl Pln11 (12.14 .201 5) 11 (d) Unsanitary or unsafe conditions-presence of environmentally hazardous contaminants within a general influence area of properties within its boundaries; and, increasing trend of traffic accidents and criminal incidents (e) Deterioration of site or other improvements-unpaved parking surface; lack of landscaping in a portion of the Area; weeds and unkempt landscaping on one parcel; overall impression of neglect due to vacancy; and, damaged signage that is inconsistent with current municipal standards (f) Unusual topography or inadequate public improvements or utilities -see curb cut references above; substandard in 38th Avenue due to a lack of appropriate accommodations for bicycles (as required by the code), and pedestrians, particularly along 38th Avenue closest to Wadsworth Boulevard where sidewalk widths narrow to less than 6' (as required by the general plan and code); and, the lack of sidewalks along Upham Street (h) Existence of conditions that endanger life or property by fire or other causes -presence of environmentally hazardous contaminants within a general influence area of properties within its boundaries; and, increasing trend In criminal incidents (i) Buildings that are unsafe or unhealthy for persons to live or work in because of building code violations, dilapidation, deterioration, defective design, physical construction, or faulty or inadequate facilities -presence of environmentally hazardous contaminants within a general influence area of properties within its boundaries (j) Environmental contamination of buildings or property -presence of environmentally hazardous contaminants within a general influence area of properties within its boundaries (k.S) Existence of health, safety, or welfare factors requiring high levels of municipal services or substantial physical underutilizotion or vacancy of sites, buildings, or other improvements -requiring high levels of municipal services; and, underutilization of sites and buildings throughout the Area 5.0 Plan Relationship to Other Community Documents 5.1 Plan Conformity As supported by specific references presented herein, implementation of this Plan will further the objectives and requirements of the Comprehensive Plan with respect to development and redevelopment, particularly within the community's commercial corridors. As stated earlier, as development occurs in the Area, it shall conform to the Comprehensive Plan and any subsequent updates, as well as any regulating documents West End 38 U r/1n 11 Rcll t!Wnl Pln11 ( 12.14 .2015) 12 including the current building code or other rules, regulations, and policies promulgated pursuant thereto. Any site-specific planning documents that might impact properties in the Area including, but not limited to City-approved site, drainage, and public Improvement plans; and, any applicable City design standards, all as may be in effect and amended from time to time, will also be adhered to. Finally, conditions of blight within the Area will be remedied by the Plan and redevelopment by private enterprise, to the greatest extent possible, but will need to first be identified as a priority investment by the Authority in consultation with the City and affected property owners. It is the Plan's intent that public improvements will be phased as the market allows and funded In part by tax increment revenues. 5.2 Consistency with the Comprehensive Plan and Corridor Plan As explained earlier, a general plan for the City, known as the Envision Wheat Ridge Comprehensive Plan, was adopted in 2009. The Authority, with the cooperation of the City, private enterprise and other public bodies, will engage in undertakings and activities described herein in order to eliminate the identified conditions of blight while also implementing the goals and objectives of the Comprehensive Plan, the 38111 Avenue Corridor Plan, adopted in October 2011, and all other adopted City plans which may impact properties within the Area. Select goals and policies of those plans which this West End 38 Urban Renewal Plan will advance are described below, and in detail in Appendix A. Those that are particularly relevant to potential actions within the Plan Area are bolded in blue. Envision Wheat Ridge Building on Previous Planning Efforts The Plan update included review of these previous efforts and documents. Many of the goals, policies, and ideas for the future represented in the previous planning efforts are still relevant, and are carried forth in this plan. Some examples of overarching themes in this plan that are carried forth from previous planning efforts include: • Commit to quality development and redevelopment (from the 2000 Comprehensive Plan) • Preserve and enhance Wheat Ridge's Neighborhoods (2000 Comprehensive Plan) • Continue to provide quality community services, parks, and open spaces (2000 Comprehensive Plan) • Encourage alternative transportation opportunities and intergovernmental cooperation on regional issues (2000 Comprehensive Plan) Wes l £11 d 38 Ur/1n 11 Rt:11ewnl Pln11 (12.14.2015) 13 • Focus on increasing housing options to attract a range of household types (Neighborhood Revitalization Strategy) • Prioritize the redevelopment of key commercial areas (Neighborhood Revitalization Strategy) • Enhance community character and gateways (Neighborhood Revitalization Strategy) • Promote transit-supportive development (Northwest Subarea Plan) • Develop a Town Center (Wadsworth Subarea Plan) • Increase property maintenance and stability (Fruitdale Subarea Plan) Previous Planning Effort.s in Wheat Ridge Comprehensive Pions • 2000 Comprehensive Plan • Repositioning Wheat Ridge: Neighborhood Revitalization Strategy (NRS, 2005) Subarea Plans • Northwest Subarea Plan (2006) • Wadsworth Corridor Subarea Plan (2007) • Fruitdale Subarea Plan (2007) • 38th Avenue Corridor Plan (2011 -following adoption of the Comprehensive Plan) Urban Renewal Plans • Wadsworth Boulevard Corridor Redevelopment Plan (2001) • West 44th Avenue Ward Road Redevelopment Plan (2001) • 38th Avenue Corridor Redevelopment Plan (2001) • 1-70 I Kipling Corridor Urban Renewal Plan (2009) Key Trends and Issues Throughout the planning process a number of key trends and issues emerged as important topics for the Envision Wheat Ridge Plan to address. The list of key trends and issues are summarized below: Economic and Fiscal Issues • Developing a clear economic strategy • Defining roles and responsibilities of partner organizations • Addressing opportunities for future employment and retail centers • Identifying prime areas for redevelopment and infill, and address barriers to development Wes t E11tf 38 Url!nn Re11cwnl Pln11 (12.14.2015) 14 • Addressing the fiscal realities of the City and how to achieve sustainable revenue sources to maintain cu rrent levels of City services • Investing in new technology to advance economic development Land Use, Housing, and Design Issues • Recognizing the importance of the community's neighborhoods and addressing how to increase the variety of housing options (beyond the single-family ranch homes and older apartments) • Addressing how to reinvest in existing neighborhoods to maintain their character but also make them more appealing to new residents • Achieving a sustainable balance of housing, retail, and employment land uses over time • Identifying appropriate density and design for different parts of the community • Establishing areas for future activity centers such as a larger scale Town Center and smaller neighborhood centers Community Character and Livability Issues • Addressing how to promote the community's assets to attract new residents, employees, and visitors • Accommodating the needs of different types of households • Coordinating with the school district to maintain quality schools • Identifying barriers for active lifestyles and promoting healthy lifestyles • Continuing parks, recreation, and open space investment and offerings • Engaging residents in crime prevention and code enforcement efforts • Including sustainability as a key t heme throughout the Plan Other Issues • Incorporating previous planning efforts into the Comprehensive Plan • Focusing on strategic implementation and priority actions to achieve the Plan's goals 38111 Avenue Corridor Plan Executive Summary West 38th Avenue, between Sheridan and Wadsworth Boulevards, is a priority redevelopment area in Wheat Ridge. The City's comprehensive plan, Envision Wheat West Enrl 38 Ur/Jnn Re11cwnl Pfnn (12.14.201 5) 15 Ridge, identifies the corridor as one of five key redevelopment sites and designates 38th Avenue as the City's main street. Although many residents view 38th Avenue as the heart of the community, today it lacks the physica l environment and economic vitality that is commonly associated with a main street corridor. The purpose of the 38th Avenue Corridor Plan is to establish a vision for 38th Avenue so that it can be revitalized into an attractive focal point for the community. Building on valuable input from stakeholders and the public at-large, the plan creates a vision for the future of the street. It establishes four guiding principles that set the framework for the plan's recommendations, which focus on transportation, land use, urban design, and economic development. VISION STATEMENT The following statement captures the vision for what 38th Avenue will become in the next two decades: "West 38th Avenue between Sheridan and Wadsworth is a safe, vibrant and diverse corridor in Wheat Ridge with a strong identity and robust commercial and residential markets. The corridor has identifiable sub-districts with its Main Street being a source of community pride and a primary destination for city residents and visitors. In the year 2030, people of all ages and abilities live, work, learn, shop, and play along 38th Avenue." 5.3 Correlation with Ot her Community Plans Implementation of this Plan will be consistent with objectives expressed in all City adopted and accepted plans that speak specifically to properties in the Area, including those cited above. 6.0 Authorized Authority Undertakings and Activities Whereas the Act allows for a wide range of activities to be used in the implementation of an urban renewal plan, it is the Authority's intent to provide both financial assistance and public improvements in partnership with property owners and other affected parties in order to accomplish the objectives stated herein. Public-private partnerships and other forms of cooperative development will be essential to the Authority's strategy for preventing the spread of blight and eliminating existing blighting conditions. Specific undertakings of the Authority in the furtherance of this Plan are described as follows. Wes t End 38 U r/ur11 Re11ewnl Pln11 (12.14-.2015) 16 6.1 Complete Public Improvements and Facilities The Authority may, or may cooperate with others to, finance, install, construct, and reconstruct any public improvements. Additionally, the Authority may, or may cooperate with others to, demolish and clear existing improvements for t he purpose of promoting the objectives of the Plan and the Act. While public improvements or investment should, whenever possible, stimulate (directly and indirectly) desired private sector investment, it is the intent of this Plan that the combination of public and private investment that occurs in the Area will contribute to the overall economic well-being of the community at-large. As described in Section 4.0 of this Plan, nine (9) qualifying conditions of blight, as defined in Section 31-25-103(2) ofthe Act, are evident in the Area. This Plan proposes to remedy those conditions by providing certain public improvements and facilities, including, but not limited to the following: (b) Assistance with property assemblages (if needed); and, co nsolidate and improve existing, and assist in the construction of new curbs and gutters, along with other improvements in an effort to raise values and the investment climate in an effort to reduce traffic accidents and incidents (c) Assistance with property assemblages (if needed); and, consolidate and improve existing, and assist in the construction of new curbs and gutters (d) Elimination and I or mitigation of environmentally hazardous contaminants; and, assist and improve properties and public infrastructure in an effort raise values and the investment climate in an effort to reduce traffic and criminal incidents (e) Provide assistance for landscaping, parking lot and signage improvements (f) Consolidate and improve existing, and assist in the construction of new curbs and gutters; and, assist with the completion of accommodations for pedestrian and bicycles (h) Elimination and I or mitigation of environmentally hazardous contaminants; and, provide ''gap" financing to meritorious projects which advance the vision stated herein and in relevant City adopted plans (i) Elimination and I or mitigation of environmentally hazardous contaminants (j) Same as (i) Wes t End 38 Urbnu Reuewnl Plnn (12.14.2015) 17 (k.S) Assistance with property assemblages (if needed); and, assist and improve properties and public infrastructure in an effort raise values and the investment climate in an effort to reduce crime 6.2 Complete Other Improvements and Facilities To the extent that non-public improvements in the Area may be required to accommodate development and redevelopment and still benefit the public, the Authority is hereby authorized to assist in the financing or construction of such improvements to the extent authorized by the Act. 6.3 Promote Development and Redevelopment A key concept associated with implementation of the Plan is targeted investment that will serve to catalyze development throughout the Area and fund future public improvements. The potential impact of this investment to Jefferson County is quantified in the West End 38 Urban Renewal Plan -Jefferson County Impact Report. dated November 2015, presented to the Authority Board under separate cover. 6.4 Adopt Standards As stated earlier, all development in the Area shall conform to applicable rules, regulations, policies, other requirements, and standards of the City, along with any other governmental entity which has jurisdiction in the Area. While the Act allows for the adoption of standards and requirements applicable to activities undertaken in an urban renewal area, in the context of this Plan, it is the Authority's intention that investment within its boundaries conform to City-approved documents. 6.5 Modify the Plan The Authority may propose, and the City Council may make, modifications to this Plan as may be necessary provided they are consistent with the Comprehensive Plan and any subsequent updates. Additionally, any such amendments made in accordance with this Plan and as otherwise contemplated, must also be compliant with the Act. Finally, the Authority may, in specific cases, allow non-substantive variations from the provisions of this Plan, if it determines that a literal enforcement of the provision would constitute an unreasonable limitation beyond the intent and purpose stated herein. West En rl 38 Ur/'n" Rt:newnl Plnn (12.14.2015) 18 6.6 Review the Plan The ongoing review process for the Plan is intended to provide a mechanism to allow those parties responsible for administering and implementing key activities within its boundaries to periodically evaluate its effectiveness and make adjustments to ensure efficiency in implementing these activities. To this end, the following steps are presented to serve as a guide for future Plan review: (a) The Authority may propose modifications, and the City Council may make such modifications as may be necessary provided they are consistent with the Comprehensive Plan and any subsequent updates, as well as the Act. (b) Modifications may be developed from suggestions by the Authority, property and business owners, and City staff operating in support of the Authority and advancement of this Plan. 6.7 Provide Relocation Assistance While it is not ant icipated as of the date of this Plan that acquisition of real property will result in the relocation of any individuals, families, or business concerns; if such relocation becomes necessary, the Authority will adopt a relocation plan in conformance with the Act. 6.8 Demolish, Clear and Prepare Improvements While also not anticipated as of the date of this Plan, the Authority may, on a case-by- case basis, elect to demolish or cooperate with others to clear buildings, structures and other improvements within the Area in an effort t o advance activities and undertakings deemed consistent with the vision stated herein. Additionally, existing Development or Cooperation Agreements may require such demolition or site clearance to eliminate unhealthy, unsanitary, and unsafe conditions; obsolete uses deemed detrimental to the public welfare; and, otherwise remove and prevent the spread of deterioration. 6.9 Acquire and Dispose of Property While the Act allows for the acquisition of property by negotiation or any other method, this Plan does not authorize the Authority uses its resources to acquire property by eminent domain. Properties acquired by entities other than the Authority may temporarily be operated, managed and maintained by the Authority if requested to do so by the acquiring entity and deemed in the best interest of the Urban Renewal Project Wt•s l £11d 38 Ur/Jn 11 Re 11 ewnl Piau (12.14.2015) 19 and the Plan. Such property shall be under the management and control of the Authority and may be rented or leased pending its disposition for redevelopment. The Authority may sell, lease, or otherwise transfer real property or any interest in real property subject to covenants, conditions and restrictions, including architectural and design controls, time restrictions on development, and building requirements in accordance with the Act and this Plan. 6.10 Enter Into Redevelopment I Development Agreements The Au thority may enter into Redevelopment I Development Agreements or other contracts with developer(s) or property owners or such other individuals or entities determined to be necessary to carry out the purposes of this Plan. Further, such Agreements, or other contracts, may contain terms and provisions deemed necessary or appropriate for the purpose of undertaking the activities contemplated by this Plan and the Act. Any existing Redevelopment Agreement between the City and private parties that are consistent with this Plan are intended to remain in full force and effect, unless all parties to such agreements agree otherwise. 6.11 Enter Into Cooperation Agreements For the purpose of this Plan, t he Authority may enter into one or more Cooperation Agreements pursuant to the Act. Whereas the City and the Authority recognize the need to cooperate in the implementation of this Plan, these Cooperation Agreements may include without limitation the planning, financing, installation, construction and I or reconstruction of public or other eligible improvements. This paragraph shall not be construed to require any particular form of cooperation. 6.12 Tax Increment Area The boundaries of the Urban Renewa l Plan Area shall be as set forth in Section 1.4 and illustrated in Figure 1. It is the intent of the City Council in approving this Plan to authorize the use ofTax Increment Financing (TIF) by the Authority as part of its efforts to advance the vision, objectives and activities described herein. Pursuant to the provisions of Section 31-25-107(9) of the Act, the City Council further contemplates that Wes t Eurl 38 Urbnu Reuewnl Plnn (12.14.201 5) 20 a Tax Increment Area is being created with concurrent boundaries to the Urban Renewal Area, effective as of the date of City Council's approval of this Plan. Notwithstanding such distinction, the Authority is specifically authorized to expend the revenue from property and sales tax increments to the extent authorized by the Act and this Plan. However, Improvements which enhance the financial viability of existing businesses and I or redevelopment of these businesses will be a priority use for these resources. While this West End 38 Urban Renewal Plan contemplates that the primary method of assisting with financing eligible expenses in the Area will be through the use of Property Tax Increment revenue, the City Council may allocate municipal sales Tax Increments if requested to do so by the Authority, and only after receipt of a financing plan outlining the proposed amounts and purpose for which the municipal sales Tax Increment is to be used. As such, the use of sales tax increment is hereby authorized pursuant to Section 31-25-107 (9), C.R.S., which is by this reference incorporated herein as if set forth in its entirety, but any such pledge of municipal sales Tax Increment by the Authority in a Development or Redevelopment Agreement shall not be authorized until a separate Cooperation Agreement between the Aut hority and the City Council setting forth the amount and terms of this allocation of incremental sales taxes between the City Council and the Authority is established. The approval of such Cooperation Agreement by the City Council and the Authority is hereby found by the City Council not to be a substantial modification of the Urban Renewal Plan, and is not an addition or modification of the Urban Renewal Project, does not alter the boundaries of the Plan Area, does not change the mill levy or sales tax component of the Plan (up to 100% of the sales tax increment being hereby authorized by the Plan), and is not an extension of the Plan or the duration of a specific Urban Renewal Project, regardless of when such Cooperation Agreement may be approved. The entire Plan Area is hereby designated as a single Tax Increment Area. 7.0 Project Financing 7.1 Public Investment Objective A critical component to the success of any urban renewal strategy is participation by both the public and private sectors. Leveraging of resources will be key, as no one entity, either public or private, has sufficient resources alone to sustain a long-term improvement effort. Possible public infrastructure investments may include, but will not be limited to completing non-vehicular public and eligible improvements intended West Eud 38 Urbn11 Renewal Plnn (12.14.2015) 21 to improve safe movement within the Area and advance key goals of the Comprehensive Plan; roadway improvements including curbs, gutters, and drainage and utility, and infrastructure improvements and relocations; as well as, providing financial assistance for other expenses considered eligible under the Act. 7.2 Financi al Mechanisms The Authority may finance undertakings pursuant to this Plan by any method authorized under the Act or any other applicable law, including without limitation of the following: issuance of notes, bonds and other obligations as defined in the Act in an amount sufficient to finance all or part of this Plan; borrowing of funds and creation of indebtedness; reimbursement agreements; and I or, utilization of the following: federal or state loans or grants, interest income, annual appropriation agreements, agreements with public or private entities; and loans, advances and grants from any other available sources. The principal, interest, costs and fees on any indebtedness are to be paid for with any lawfully available funds of the Authority. Debt may include bonds, refunding bonds, notes, interim certificates or receipts, temporary bonds, certificates of indebtedness, or any other obligation lawfully created. 7.3 Tax Increment Financing Activities may be financed by the Authority under the Tax Increment Financing provisions of the Act. Such incremental revenues may be used for a period not to exceed the statutory requirement, which is presently twenty-five {25) years after the effective date of the Plan adoption which authorizes and creates the Tax Increment Area. 7.3.1 Special Fund In accordance with the requirements of the law, the Authority shall establish a Tax Increment Revenue Fund for the deposit of all funds generated pursuant to the division of ad valorem property and municipal sales tax revenue described in this section. We:.t Entl 38 Urban Rt•newal Plan (12.14.2015) 22 7 .3.2 Base Amount The Base Amount includes that portion ofthe property taxes which are produced by the levy at the rate fixed each year by or for each public body upon the valuation for assessment of taxable property in the Tax Increment Area last certified prior to the effective date of approval of the Plan (or future modifications); and, that portion of municipal sales ta xes collected within the boundaries of the Tax Increment Area in the twelve-month period ending on the last day of the month prior to the effective date of approval of the Plan and paid to the public body, as are all other taxes collected by or for said public body. 7.3.3 Incremental Revenues Incremental revenues including that portion of said property, and if authorized by Cit y Council, municipal sales taxes in excess of the base amount set forth in Section 7.3.2 above shall be allocated to and, when collected, paid into the Authority's Tax Increment Revenue Fund. The Authority may use these funds to pay the principal of, the interest on, and any other premiums due in connection with the bonds of, loans or advances to, or indebtedness incurred (whether funded, refunded, assumed, or otherwise) by the Authority, for financing or refinancing, in whole or in part, any portion of an Urban Renewal Project considered eligible under the Act. Unless and until the total valuation for assessment of the taxable property in any Tax Increment Area exceeds the base valuation, all of the taxes levied upon taxable property in the Tax Increment Area shall be paid into the funds of the respective public bodies. Also, when such bonds, loans, advances and indebtedness, including interest thereon and any premiums due in connection therewith, have been paid, all taxes upon the same taxable property shall be paid to the respective public bodies. Further, the incremental portion of said taxes, as described in this subsection 7.3.3, may be irrevocably pledged by the Authority for the payment of, principal and interest on, and any premiums due in connection with such bonds, loans, advances and I or indebtedness incurred by Authority to finance an Urban Renewal Project (as defined in the Act); except: (a) Any offsets collected by the County Treasurer for return of overpayments or any funds reserved by the Authority for such purposes in accordance with Section 31-25-107(9)(a)(lll) and (b), C.R.S. Wes t E11d 38 Urbn 11 Renewnl Pln 11 (12.14.2 01 5) 23 (b) Any reasonable (as determined by the Authority) set-asides or reserves of incremental taxes paid to the Authority for payment of expenses associated with administering the Plan. If there is any conflict between the Act and this Plan, the provisions of the Act shall prevail, and the language in the Plan automatically deemed to conform to the statute. 7.4 Other Financing Mechanisms I Structures The Plan is designed to provide for the use of Tax Increment Financing as one tool to facilitate investment and reinvestment within the Area. However, in addition to Tax Increment Financing, the Authority shall be authorized to finance implementation of the Plan by any method authorized by the Act. The Authority is committed to making a variety of strategies and mechanisms available which are financial, physical, market and organizational in nature. It is the intent of this Plan to use the tools either independently or in various combinations. Given the obstacles associated with redevelopment, the Authority recognizes that it is imperative that solutions and resources be put in place which are comprehensive, flexible and creative. Finally, the Authority may contract with the City to administer various incentives. 8.0 Severability If any portion of this Plan is held to be invalid or unenforceable, such invalidity will not affect the remaining portions of the Plan. Wes t E11rl 38 U rbn11 Re11cwnl Pln11 (12.14.201 5) 24 Appendix A: West End 38 Urban Renewal Plan City of Wheat Ridge, Colorado Excerpts from the Envision Wheat Ridge Comprehensive Plan, adopted October 12, 2009 and 38rh Avenue Corridor Plan, adopted October 2011 West End 38 Urban Renewal Plan (12.14.2015) 25 2 -COMMUNITY VISION AND VALUES Page 11 Key Values The following six broad Key Values are the primary principles behind the Community Vision. They describe the community's aspirations and organize the more specific policies into the chapters of this Comprehensive Plan. Create a Resilient Local Economy Based on a Balanced M ix of Land Uses A diverse mix of land uses including residential neighborhoods, primary employment, and commercial goods and services will build and sustain a broad and resilient tax base. Promote Vibrant Neighborhoods and an Array of Housing Options Maintaining the character of existing neighborhoods and establishing new housing options will retain and attract a range of household types. Enhance Community Character and Accentuate Quality Design Marketing Wheat Ridge's unique qualities and emphasizing quality design for new development and redevelopment will reposition Wheat Ridge as a unique community. Increase Transportation Connections and Options Continued coordination and investment in transportation efficiency, travel options and connections will improve mobility for community residents, employees, and visitors. Provide Quality Community Amenities. Services. and Resources A commitment to providing exemplary community services will maintain the high quality of life for community residents, and will help attract future households and employers. Ensure a Sustainable Future* Continued focus on the future implications of today's choices and their impacts on the community's residents, the natural environment, and community prosperity will ensure a prosperous future for future generations. Page 12 • Vision for a Sustainable Future • A sustainable future is a continuous journey to balance social, environmental, and economic interests. It respects and provides stewardship of the natural environment, facilitates active lifestyles and civic engagement, and bestows economic prosperity to individuals and the community. • A community with a sustainable future focuses on its local progress while also considering the global impacts of its decisions. 26 3 -Structure Plan Page 13 Introduction Overview The Structure Plan is intended to provide strategic guidance and general land uses for future redevelopment to aid the Wheat Ridge community in achieving its future vision. It provides high-level guidance for the community's areas and corridors -it is not intended to be parcel-based, nor is It a zoning map. The Structure Plan, in combination with goals and policies, will help the community determine appropriate locations and strategies for: 1. conservation of the community's assets and foundation; 2. areas in need of reinvestment and revitalization; and 3. targeted development and redevelopment to achieve vibrant commercial, mixed-use, and employment areas. Page 20 Foundations Foundations are neighborhoods and commercial areas with common characteristics, upon which the focus areas are layered. They include: Neighborhood Revitalization -residential areas--individual properties or general pockets that might benefit from reinvestment; often require special attention because they have issues related to dilapidated properties, code enforcement, crime and safety, lower rates of owner occupancy, and I or incompatible mix of uses; promote home ownership and spur reinvestment through infrastructure improvements; and I or, limited small-scale residential redevelopment will be encouraged in areas that exhibit several of the following characteristics of neighborhoods in need of revitalization Criteria to distinguish Neighborhood Revitalization Areas • Increasing incompatibility of uses • Infrastructure needs (e.g., utilities in disrepair) • Less stability than established neighborhoods Neighborhood Buffer Areas • Along both sides of Kipling Street north of 44th Avenue • 44th Avenue near Youngfield Street • Along Wadsworth Boulevard • Along Sheridan Boulevard Mixed-Use Commercial Areas Existing Areas • Kipling Street at 1-70 • Youngfield Street and 38th Avenue at 1-70 27 • 38th Avenue between Sheridan and Wadsworth Boulevards The plan designates existing commercial areas mixed with office and employment as mixed-use commercial areas. Focus in these areas is on long-term infill and redevelopment, reinvestment, and high quality urban design and landscaping for vacant or underutilized properties, with "centers" being the primary emphasis. Page 24 Corridors and Gateways Corridors and Gateways are areas of future focus and emphasis layered on top of the foundations. Corridors are the major thoroughfares through Wheat Ridge along which businesses are located. The intensities and land use characteristics of the city's corridors will vary from vehicular-oriented commercial districts to quaint and pedestrian-friendly neighborhood commercial areas. The corridors include: Primary Commercial Corridors -focus on assembling and redeveloping outdated and underutilized properties primarily from 35th to 44th Avenues, encourage development of a mixed-use Town Center, including multi-family housing (as lofts or part of the mix), improved bicycle and pedestrian connections along routes parallel to Wadsworth Main Street Corridor, 38th Avenue Corridor (between Wadsworth Boulevard and Sheridan Boulevard) -show case nodes of locally owned commercial businesses and employers in a transit and pedestrian- friendly "main street" environment that emphasizes Wheat Ridge's historic and hometown character; small-scale mixed-use infill and redevelopment activities will be focused primarily between Wadsworth and Pierce, with additional nodes of development extending along 38th Avenue to Sheridan, streetscape and other urban design improvements will be extended through the Main Street corridor to provide a walkable and distinct gateway Neighborhood Commercial Corridors • 44th Avenue (between Youngfield and Kipling Streets) • 44th Avenue (between Kipling Street and the greenbelt) • 44th Avenue (east of Wadsworth Boulevard) • Harlan Street (from 1-70 to just south of 44th Avenue), Primary Gateway, Primary Gateways • I· 70 at Wadsworth • 1-70 at Kipling Street • I· 70 at Ward Road • 1-70 at Youngfield Street I 32nd Avenue • Wadsworth at 26th Avenue • 38th Avenue at Sheridan Boulevard • 26th Ave at Kipling Street • 44th Avenue at Harlan Street 28 4 -ECONOMY AND LAND USE Page 35 Relationship to the Community Vision and Structure Plan Emphasis on retention and reinvestment in commercial areas will ensure that residents have convenient local locations to shop, in addition to generating retail sales tax to maintain City services. To provide balance to the community's strong residential base, future employment and commercial development efforts will target key areas. Goal ELUl: Make Wheat Ridge a "community of choice" in which to live, work, shop, and recreate. Wheat Ridge will actively promote the community's positive assets to attract and retain residents, employers, and visitors. The City will emphasize and market its high quality of life to position Wheat Ridge as a desirable place to live, work, recreate, and visit. Policies ELU 1.2 -Become a Regional Destination The City will promote the community's attributes, and showcase entrances and travel corridors to draw visitors and position the community as a regional destination. Strategies: A. Develop programs to enhance and highlight the city's main entrances (gateways) with landscaping and signage Goal ELU2: Attract Quality Retail Development and Actively Retain Existing Retailers to Locate in Wheat Ridge Actively retain existing retailers and attract quality retail development. Wheat Ridge will proactively work with existing quality retailers to remain and thrive in Wheat Ridge, and encourage new businesses, particularly those that provide healthy and high quality products and goods and services to locate in Wheat Ridge. In addition, the City will plan for future regional retail, community commercial, and neighborhood commercial centers and promote opportunities for niche and specialty businesses and districts. Policies: ELU 2.1-Retain and Enhance Existing Retailers The City, in conjunction with its economic development partners, will work with existing quality retailers and businesses to remain and expand in Wheat Ridge so that goods are purchased locally and retail sales taxes are not lost to neighboring communities. Strategies: C. Assist existing retailers with expansion plans or opportunities for local relocation 29 ELU 2.2 -Promote Specialty Retail Businesses The City, in partnership economic development partners, and the development and business communities, will work to establish and grow unique small businesses and niche bu5iness districts in areas identified as activity centers and along key corridors. Strategies: E. Work with local brokers and developers to identify and attract regional niche retailers for a potential location in Wheat Ridge. ELU 2.3-Rehabilitate Underutilized Retail Spaces Coordination and partnership between the City, economic development partners, and the development community to improve the appearance and function of outdated and inefficient retail spaces will re energize the community's primary corridors and key activity centers. Strategies: B. Encourage land assemblage and denser nodes of development within activity centers C. Partner with area economic development organizations D. Continue to work with local property owners on identifying opportunities for fa~ade and landscaping improvements and upgrades ELU 2.4 -Develop Regional Retail The City, economic development partners, and private developers will partner to develop the Regional Commercial Center west of 1-70 (including the Crossing at Clear Creek site) with a mix of regional retail anchors, smaller retailers, and secondary uses such as offices and hotel. B. Enter public I private partnerships and facilitate the use of tools such as Tax Increment Financing through an Urban Renewal Authority, special districts, and other tools to share infrastructure development costs; and C. Provide business start-up incentives and financing tools (such as Tax Increment Financing). Goal ELU3-Retain and Diversify local Employment Wheat Ridge will foster a business climate that encourages expansion or creation of employment opportunities. Particular emphasis will be placed on growing the community's existing health care industry, redevelopment of the area su rrounding the future FasT racks Gold line Transit Station, and allowing secondary employment opportunities in the Crossing at Clear Creek Regional Commercial Center area. This business climate will require the retention of industrially zoned lands, and will place emphasis on new, high-quality employment opportunities in growing fields such as clean energy and biotechnology. Policies: ELU 3.1 -Retain and Expand Established Employers 30 The City and its economic development partners will work with the community's existing primary employers such as Exempla Lutheran Hospital to maintain and grow operations to provide quality local jobs to residents. Strategies: A. Supply an adequate mix of housing in the community to create a "whole community" where residents can live and work; D. Work closely with local employers and business owners to address issues and retain them in Wheat Ridge; and E. Coordinate with employers to develop pla ns for future growth and expansion and help facilitate their plans through the City's development review process. ELU 3.2 -Generate New Primary Employment The City, in partnership with economic development and other business organizations, will recruit new primary employers to locate in Wheat Ridge, in order to provide qua lity jobs for the community's large residential base, and to draw employees into the city on a daily basis. Strategies: A. Market development sites within Enterprise Zone and Urban Renewal Authority areas B. Target medical-related facilities C. Work on a package of appropriate incentives and establish the criteria by which these incentives can be used Goal ELU4 -Increase the Diversity of land Uses Wheat Ridge will work to ensure that the limited future development and redevelopment areas provide increased opportunities for employment, retail, and commercial services, along new housing options, to achieve a sustainable and balanced mix of land uses for the community. Policies: ELU 4.1-Efficient Use of limited land Because of the limited amount of land available for new development, the City will require efficient use of newly developing and redeveloping areas by promoting higher-intensity development. Priority areas for new development include the Crossing at Clear Creek site west of 1-70 and the future T.O.D. area north of 1-70 near Ward Road. Strategies: A. Emphasize mixed-use development in developing and redeveloping areas C. Prioritize areas for future subarea and corridor plans, and potential overlay districts to identify opportunities for property assemblage and efficient use of land 31 E. Seek to remove height and density limitations from the City Charter in targeted development and redevelopment locations and examine I rezone those areas as necessary to achieve goals Goal ELUS: Revitalize Key Redevelopment Areas Policies: ELU 5.1-lnfill and Redevelopment Many properties along Wheat Ridge's primary corridors and in activity centers are dated and underutilized. The City will work with partners and private developers to promote infill and redevelopment in key areas shown on the Structure Plan. Strategies: A. Provide financing tools and incentives (such as Tax Increment Financing in Urban Renewal Areas and Enterprise Zone tax credits) to jump-start redevelopment in underutilized areas B. Identify areas with potential for property assemblage (through future subarea and corridor plans) and provide assistance with assemblage C. Actively pursue grants and technical assistance in determining the existence of brownfields at key redevelopment locations D. Coordinate with all interested parties (property owners, adjacent property owners, and City) to plan and define the vision for future development on infill sites E. Identify areas for future overlay districts F. Enter public-private partnerships (between City government, developers, financial institutions, nonprofit organizations, and neighborhood organizations) to increase cooperation and development success ElU 5.2 -High Quality Redevelopment The City will require high quality urban design for all future infill and redevelopment, in order to ensure compatibility with surrounding neighborhoods, and to improve the overall appearance of the community's primary corridors and activity centers. Strategies: A. Assist with property assemblage to promote well coordinated, complete areas for redevelopment (not piecemeal properties) C. Identify areas for future subarea and corridor plans, and potential thematic-based overlay districts (to establish guidelines and standards to address suitable design and scale, variety and visual interest, and appropriate materials specific to each subarea or corridor) Goal ELU6: Establish Community Activity Centers and a Town Center Policies: ElU 6.1-Community Activity Centers 32 The City will guide development and redevelopment to occur in planned activity centers. A range of existing and proposed activity centers along major corridors will discourage strip commercial development by concentrating a mix of uses to serve as neighborhood and community destinations. Existing Community Activity Center Locations • Youngfield at 38th Avenue (Community Commercial Center) • Sheridan at 38th Avenue (Community Commercial Center) • Wadsworth at 38th Avenue (Community Commercial Center) Future Community Activity Center Locations Wadsworth between 38th and 44th Avenue (Town Center) • Crossing at Clear Creek site (Regional Commercial Center) • Future Gold Line Transit Station Area (Employment/Commercial Center) Strat egies: A. Partner with private property owners, economic development organizations, and developers to assemble parcels for redevelopment C. Encourage a mix of uses in activity centers (including multi-family residential and senior housing where appropriate) D. Provide multi-modal transportation connections and options to activity centers (especially bicycle and pedestrian connections) E. Coordinate development with established Urban Renewal Authority, Colorado Department of Transportation, and other regional plans ELU 6.2-Town Center Development In collaboration with economic development partners and other organizations, the City will guide the development of a mixed-use Town Center, located along Wadsworth between 38th and 44th Avenues. Strategies: C. Provide multi-modal transportation connections and options to activity centers (especially bicycle and pedestrian connections) D. Enter public I private partnerships to assist with development funding and design E. Establish an appropriate package of incentives to help jump-start redevelopment S -NEIGHBORHOODS AND HOUSING Page 54 Goal NH2: Increase Housing Options Policies: 33 NH 2.1 -New Housing Types The City will direct the development of new housing types such as townhomes, condos/lofts, and senior living units (especially in Neighborhood Revitalization, Neighborhood Buffer and other mixed-use areas) to meet market demand. Strategies: B. Promote traditional neighborhood development with a variety of housing types (possibly including accessory dwelling units, multi-family, and senior housing units) as a component of infill I redevelopment sites Goal NH4: Stimulate Investment and Redevelopment In Neighborhood Buffer Areas Policies: NH 4.1 -Enhance Neighborhood Buffer Areas The City will coordinate and partner economic development partners, neighborhood groups, and private developers to initiate investment and redevelopment efforts in Neighborhood Buffer Areas. Strategies: A. Coordinate revitalization efforts within established Urban Renewal Authority areas and plans B. Enter public I private partnerships to improve or redevelop outdated multi-family properties C. Encourage and facilitate property assemblages to accommodate new small-scale mixed-use developments to provide transition between primary corridors and residential neighborhoods 6 -COMMUNITY CHARACTER AND DESIGN Pages 61 through 63 Policies Goal CC1: Create Recognizable Gateways and Corridors Wheat Ridge will establish a clear identity that promotes a positive community image in primary community entrances ("gateways"). CC 1.1-Gateway Identity In collaboration with economic development partners, private developers, and other groups, the City will improve primary gateways into the community (as shown on the Structure Plan) so that t hey project a positive, cohesive community identity and clear sense of place. Strategies: A. Develop signage and landscaping at gateways and along 1-70 that uses recent community branding efforts to "tell the Wheat Ridge story'' (such as the themed gateway signage and streetscape on 38th Avenue near Sheridan) 34 B. Provide and maintain attractively landscaped areas at community entrances (such as the recent 1-70 and Kipling interchange improvements) CC 1.2 -Corridor Image The City will work with private developers, economic development partners, Colorado Department of Transportation and other organizations to enhance the image of the city's primary corridors (as identified on the Structure Plan). Strategies: B. Enter public I private partnerships to coordinate, fund, develop, and maintain streetscape improvements C. Continue the community sign code to ensure quality new signage along corridors and to encourage upgrades to existing non-conforming signage 7 -TRANSPORTATION Pages 79 through 83 Goal T 1: Provide an Integrated Transportation System to Address all Modes of Travel and Future Funding Priorities Wheat Ridge will accommodate all modes of travel including motorists, pedestrians, bicycles, and transit riders. Policies: T 1.1-Targeted Improvement Areas The City will focus future investment for infrastructure improvements in targeted corridors and intersections, as identified on the Transportation Structure Plan. Strategies: A. Institute transportation improvements as activity centers and primary corridors develop and redevelop B. Use the improvements shown on the Transportation Structure Plan to establish key areas for each travel mode and capital improvement projects C. Establish criteria to identify neighborhoods that are not targeted areas for street or sidewalk enhancements T 1.2 -Improvements Funding The City will continue to invest in transportation infrastructure improvements and will seek opportunities to partner with regional, state, and national agencies to establish funding for key projects. Strategies: A. Seek to establish a new local funding source for pedestrian and bicycle system improvements 35 B. Work to establish a blend of local and matching funds for multi-modal improvements T 1.3-Complete Streets The City will coordinate with Colorado Department of Transportation (COOT) to establish roadway design criteria that ensure safe, attractive, and comfortable access and travel for all users (also commonly referred to as "complete streets"). Strategies: A. Develop new road cross sections for principal corridors that meet the needs of all modes of transportation B. Revise development regulations to require new development to construct or enhance segments of pedestrian and bicycle systems C. Establish and require level of service standards for all travel modes D. Complete the Implementation Plan (Phase 2) of the Bike and Pedestrian Route Master Plan 8-COMMMUNITY SERVICES Goal CS 4: Continue Coordination with Fire Districts and Utility Providers to Maintain Quality Service The City will continue to coordinate with utilities and fire districts to maintain quality levels of service to existing customers and provide new services to areas where future growth will occur. Policies: CS 4.1 -Utility and Service Districts The City will continue to coordinate development and redevelopment activities with utility providers and service districts. Strategies: B. Develop and offer credits or incentives for development I redevelopment that reuses, establishes new connections to, or upgrades existing utility infrastructure. 10 -PLAN IMPLEMENTATION Pages 111 and 112 An Economic Development Strategy This Plan, and the process to develop it, has continually identified economic development of targeted redevelopment areas as a primary strategy for the City to accomplish its livability, fiscal, image, and identity-related goals. Five Target Redevelopment Areas a. Crossing at Clear Creek (Cabela's) b. 38th Avenue "Main Street" c. Kipling Corridor 36 d. Wadsworth Corridor I Town Center e. Gold Line/Ward Road Station -Transit-Oriented Development {TOO) Short-and Long-Term Priorities The strategy should confirm, in discussion with policymakers and staff, short-and long-term priorities for redevelopment and geographic areas. For example, redevelopment priorities in the "target areas" should focus on the long-term desires as reflected in the Comprehensive and Sub-Area Plans, while in other commercial and industrial areas, the priority may be to minimize vacancies. Identify Appropriate Financial Tools Pu blic agencies can employ a number of financing tools to finance public improvements. The special districts, authorities, and other tools described in the following table are a short list of financing tools that are applicable to the redevelopment of key areas in Wheat Ridge. Page 115, 117 and 118 Economic Strategies for Geographic Areas b. 38th Avenue "Main Street'' Establishing a small locally oriented retail center at 38th Avenue is a high priority for residents of Wheat Ridge. Challenges include the perception that there is "no market," checkerboard zoning, the lack of funding for significant improvements, and land assembly. Initial action items are focused on market creation. Potential Financing Tools • Urban Renewal Area • Local Marketing District • Business Improvement District d. Wadsworth Corridor/ Town Center Background The Wadsworth Corridor between 38th and 44th Avenues has been identified as the preferred location for a Town Center that would have a small civic component such as a library, retail development, and places for public gathering. The URA owns the site just east of the 1st Bank at 44th and Wadsworth and has been working with public and private partners to foster its development. Redevelopment of the Wadsworth Corridor hinges on actions by COOT to widen and / or improve the road. Potential Financing Tools Specific parcels may require land write-down assistance, environmental remediation, and assistance with current property ownership. Other tools to encourage redevelopment In this corridor area are listed below. Their use will depend on the specific situation. • Metropolitan Districts • General Improvement Districts 37 • Urban Renewal Area • Special Improvement Districts • Public Improvement Fees • Use Tax Rebates e. Gold Une/Ward Road Station -Transit-Oriented Development (TOO) Site This site is seen as having longer term importance to the City; however, potential projects are not likely to materialize until after the commuter rail line is close to completion (Gold Line station estimated completion for 2016}. Potential Public Financing Tools • Urban Renewal Authority • Metropolitan District • General Improvement District • Special Improvement District • Public Improvement Fee • Use Tax Rebates • Others for the Specific TOO Project 38 38th Avenue Corridor Plan, adopted 2011 (some excerpts grommoticolfy edited) Those that are particularly relevant to potential actions within t he Plan Area are bolded in blue. Pages 1 and 2 EXECUTIVE SUMMARY West 38th Avenue, between Sheridan and Wadsworth Boulevards, is a priority redevelopment area in Wheat Ridge. The City's comprehensive plan, Envision Wheat Ridge, identifies the corridor as one of five key redevelopment sites and designates 38th Avenue as the City's main street. Although many residents view 38th Avenue as the heart of the community, today it lacks the physical environment and economic vitality that is commonly associated with a main street corridor. The purpose of the 38th Avenue Corridor Plan is to establish a vision for 38th Avenue so that it can be revitalized into an attractive focal point for the community. Building on valuable input from stakeholders and the public at-large, the plan creates a vision for the future of the street. It establishes four guiding principles that set the framework for the plan's recommendations, which focus on transportation, land use, urban design, and economic development. Vision Statement The following statement captures the vision for what 38th Avenue will become in the next two decades: "West 38th Avenue between Sheridan and Wadsworth is a safe, vibrant and diverse corridor in Wheat Ridge with a strong identity and robust commercial and residential markets. The corridor has identifiable sub-districts with its Main Street being a source of community pride and a primary dest ination for city residents and visitors. In the year 2030, people of all ages and abilities live, work, learn, shop, and play along 38th Avenue." Sub-Districts Wadsworth Town Center The Wadsworth Town Center anchors the corridor at its western end. Building upon the City's adopted plans which envision a mixed-use town center on Wadsworth between 38th and 44th Avenues, this sub-district includes a mix of community and regional serving retail, offices, and residences. Improvements in the Area will serve as a gateway into Wheat Ridge's downtown and Main Street from the west. Main Street The vision for Main Street is a historic gathering place that integrates small shops, restaurants, and services at the ground floor with residences and office space on upper floors. This half-mile stretch of 38th Avenue will be easily walkable and attract a synergy of people and activities during the day and night. 39 Guiding Principles The input received during the visioning process led to the creation of four guiding principles that inform the plan recommendations. Identity-Redevelop 38th Avenue with a strong identity as Wheat Ridge's Main Street Vitalfty-Promote economic and real estate vitality and healthy living Appeal -Create an attractive, comfortable, inviting atmosphere Mobility -Develop a complete street that better accommodates pedestrians, cyclists, and transit riders while maintaining adequate vehicular access and parking Pages 5 through 8 1 -INTRODUCTION 1.1 -Study Area location West 38th Avenue is an important east-west corridor that runs the entire length of Wheat Ridge. The focus of this plan is the portion of West 38th Avenue that falls between Sheridan Boulevard and Wadsworth Boulevard, which is about 1.5 miles in length. The study area continues just west of Wadsworth Boulevard in order to capture the entire 38th Avenue and Wadsworth Boulevard intersection, which is a gateway within Wheat Ridge and into the study area. To the east, the study area ends at Sheridan Boulevard, which is also the boundary between the city of Wheat Ridge and city and county of Denver. The study area extends roughly 600 feet to the north and south of 38th Avenue. 1.2 -Purpose of the Plan The purpose of the 38th Avenue Corridor Plan is to establish a vision for the future of 38th Avenue between Wadsworth and Sheridan Boulevards. This portion of the street is identified as a priority redevelopment area in the City's Comprehensive Plan and Economic Development Strategic Plan. Wheat Ridge 2020, another important stakeholder given its office location on 381h Avenue, has also identified 38th Avenue as a priority area and is committed to the revitalization of the corridor. 1.4 -Relationship to Other Plans There are several existing plans, studies, and guiding documents that set the framework for the 38th Avenue Corridor Plan. 38th Avenue Corridor Redevelopment Plan (Urban Renewal Plan), adopted 2001 This plan, established an urban renewal area along 38th Avenue between Sheridan and Wadsworth, covers a majority of the focus area. A major objective identified in this plan is to strengthen the identity of 38th Avenue as the city's main street with a human-scaled mix of uses. The proposed land use concept is to enhance neighborhood-and community-serving retail while preserving housing. This urban renewal plan also identifies redevelopment techniques that could be utilized such as demolition, land acquisition, redevelopment and rehabilitation. Financing tools identified in the plan 40 include revenue from property and sales tax increments, federal loans or grants, as well as bond issuances. Neighborhood Revitalization Strategy, adopted 2005 The Neighborhood Revitalization Strategy (NRS) focused on the repositioning of Wheat Ridge as a vibrant community by improving its housing stock and revitalizing its commercial corridors to attract higher-income households. Acknowledging demographic trends such as decreasing median household incomes, the NRS strongly urges the City to pursue policies and regulations that encourage investment in neighborhoods and redevelopment in commercial areas. The NRS recommends that the City and Wheat Ridge 2020 focus housing efforts on the east side of the city by increasing permissible densities and encouraging lnfill and rehabilitation of the existing housing stock. The NRS also specifically identifies 38th Avenue as one of four key commercial areas where the City should focus redevelopment efforts. Recommendations in the 38th Avenue Corridor Plan are consistent with the NRS. Envision Wheat Ridge Comprehensive Plan, adopted 2009 Envision Wheat Ridge is a city-wide plan that guides the future of the city. The plan identifies 38th Avenue between Sheridan and Wadsworth Boulevards as a "main street corridor" that is transit-and pedestrian-friendly. It recommends development of small-scale mixed-use infill and redevelopment projects focused primarily between Wadsworth Boulevard and Pierce Street, with additional nodes of development extending along 38th Avenue to Sheridan Boulevard, over time. Envision Wheat Ridge also identifies 38th Avenue as one of five priority redevelopment areas in the city and calls out several action items to facilitate its redevelopment, including: • Preparation of a 38th Avenue subarea I corridor plan • Form a public-private partnership with merchants and owners along the corridor to make the area attractive for private investment • Develop a streetscape plan • Facilitate creation of a Business Improvement District (BID) to maintain improvements (when appropriate) Recommendations in the 38th Avenue Corridor Plan coincide with the vision and recommendations in Envision Wheat Ridge, and have been adopted as an official amendment to the Comprehensive Plan. West 38th Avenue Community Revitalization Partnership Report, Prepared for Wheat Ridge 2020, 2009 This study, prepared by the Colorado Department of Local Affairs (DOLA) and Downtown Colorado, Inc. (DCI) was the result of a 3-day assessment of the 38th Avenue corridor between Wadsworth and Sheridan Boulevards by a multi-disciplinary assessment team. The assessment team evaluated strategies for revitalization of the street, focusing on land use, real estate, marketing and promotion, and urban design. This study recognizes existing aspects of the corridor that detract from its economic via bility, including its auto-oriented form, outdated retail formats, and lack of a cohesive identity. The report includes 41 many recommendations to guide the revitalization of 38th Avenue, focusing on marketing and branding, redevelopment opportunities, and urban design. The report recommends the completion of a corridor plan and further study of a "road diet" that serve to reduce travel lanes and create opportunities for on- street parking, improved sidewalks, and I or bicycle facilities. Bicycle and Pedestrian Master Plan, adopted 2010 This plan lays the framework for providing a more comprehensive pedestrian and bicycle network throughout the city; and, identifies which streets in Wheat Ridge need pedestrian and bicycle improvements, and discusses potential funding sources for implementing planned pedestrian and bicycle facilities. It proposes detached sidewalks with amenity zones on both sides of 38th Avenue between Sheridan and Wadsworth Boulevards, as well as a shared bicycle facility. Other proposed improvements within the study area include bike lanes on Pierce Street, a shared lane on Harlan Street, and a shared lane that starts on 38th Avenue at High Court and connects north to West 41st Avenue. Recommendations in the 38th Avenue Corridor Plan generally comply with the Bicycle and Pedestrian Master Plan. However, the Corridor Plan does not recommend adding bike facilities to the street. Bike lanes for 38th Avenue were considered through public input during the planning process, but ultimately ruled out due to a lack of continuity with other east-west routes and high potential for cyclist I motorist conflicts. The Plan did recommend, though, amending the Bicycle and Pedestrian Master Plan to remove the proposed shared bicycle facility on 38th Avenue between Sheridan and Wadsworth Boulevards. Streetscape Design Manual, adopted 2011 This document establishes design standards for important corridors throughout the city. The document identifies 38th Avenue between Sheridan and Wadsworth Boulevards as a "priority corridor'' and lays out design goals and standards intended to create a high-quality streetscape and pedestrian-friendly environment. The Manual requires improvements to the streetscape in front of a parcel on 38th Avenue, if the subject of new construction or expansion of existing buildings by more than SO percent. Required improvements include an 8-foot wide sidewalk and 6-foot wide amenity zone. If room within the existing right-of-way to make these improvements does not exist, then the City may require an easement or right-of-way dedication. The Manual also contains requirements for regularly spaced street trees, pedestrian lights, and other amenities within an amenity zone. Requirements within the Manual do not apply to that portion of 38th Avenue between Sheridan Boulevard and Harlan Street that was subject to a City-funded streetscape improvement project in 2002. Recommendat ions included in the 38th Avenue Corridor Plan generally coincide with the Streetscape Design Manual. Pages 31 through 37 3-VISION Common desires expressed during the visioning process for 38th Avenue include: 42 • Improve the design and quality of the street. • Create a street that Is safe and enjoyable for pedestrians, but that does not compromise other modes of travel, especially cars. • Draw a variety of restaurants, shops, and other services to the corridor so that it becomes a lively, attractive destination during the day and night. • Recognize the street as the heart of the community (its "main street") through improved design and a clear identity. • Encourage different districts or nodes along the 1.5 mile length of the street. • Improve connectivity to surrounding neighborhoods. 3.2 -Sub-Districts Wadsworth Town Center The Wadsworth Town Center anchors the corridor at its western end. Building upon the City's adopted Wadsworth Corridor Subarea Plan and Envision Wheat Ridge, which envisions a mixed-use town center on Wadsworth Boulevard between 38th and 44th Avenues, this sub-district includes a mix of com munity and regional serving retail, offices, and residences. It will serve as a gateway into Wheat Ridge's Downtown and Main Street from the west. The Wadsworth Town Center will draw larger-format higher- intensity retail uses that fit well on a regional arterial like Wadsworth Boulevard. This sub-district contains one of the major opportunity areas identified in the potential for change analysis, which is the 14-acre vacant lot and former car dealership at the southwest corner of 38th Avenue and Wadsworth Boulevard. This site could draw significant redevelopment that would help establish a quality gateway to the 38th Avenue corridor. Main Street The vision for Main Street is a historic gathering place that integrates small shops, restaurants, and services at the ground floor with residences and office space on upper floors. This half-mile stretch of 38th Avenue will be easily walkable and attract a synergy of people and activities during the day and night. The heart of Main Street is between Vance and Pierce Streets. This area overlaps with one of the major opportunity areas also identified in the potential for change analysis. The eastern edge of Main Street extends to Newland Street so that it is anchored by Wheat Ridge Lanes, a popular bowling alley on the east end, and encompasses a full one-half mile walking distance along the corridor. It is important to note that Main Street falls within the proposed Downtown area. Wheat Ridge has never had an official downtown, but main streets are typically found within the downtown of a community. Downtown Wheat Ridge will incorporate the Wadsworth Town Center and Main Street, recognizing the portion of 38th Avenue that has historically been the heart of the City. Identity -Redevelop 38th Avenue with a strong identity as Wheat Ridge's Main Street. • Design the street as a unique, pedestrian--oriented, safe, comfortable, and economically viable place that people go to repeatedly for an unparalleled experience. • Build and sustain support for the vision among public officials, corridor businesses, and area residents. 43 • Create four distinct districts-the Wadsworth Town Center, Main Street, the Residential District, and the Sheridan Commercial District. • Allow for a mix of uses throughout the corridor, with specific standards for each district. • Apply to each sub-district a unique, timeless, easily maintainable materials palette to each district with enough overlap among the palettes to convey a unified image. • Capitalize on existing and historic assets. • Provide adequate and consistent signage, wayfinding, marketing materials, and streetscape amenities to brand 38th Avenue and its districts. • Continue to encourage architecturally appropriate building facade renovations as well as new infill development that supports a Main Street environment. • Create a branding strategy for the Main Street district. Vitality -Promote economic and real estate vitality and healthy living. • Develop a competitive marketplace that provides opportunities for local and national businesses, existing and new. • Create a vibrant place of commerce where people congregate. • Encourage local businesses to enliven the streetscape with outdoor seating and merchandise displays. • Implement short-term stimulant projects I improvements to spur long-term redevelopment. • Identify and consolidate land as necessary for large catalytic projects that will provide a substantial infusion of energy to the corridor and specifically to Main Street. • Provide opportunities for flexible use of the public realm for temporary events, such as street fairs and farmer's markets. • Encourage a diverse mix of land uses to create 18-hour activity. • Preserve and cultivate health-related uses within and near the corridor, through projects and events that promote Healthy Eating and Active Living (HEAL) among all members of the Wheat Ridge community. Examples include community gardens, farmers markets, mobile vending of healthy foods, family or youth bike rodeos, living Local/ living Well exhibitions or mini-fairs, summertime events in which the street is closed to cars, and/or temporary demonstration projects that show possible improvements to the street. • Encourage the formation of an entity to aggressively market the corridor. • Focus public and quasi-public uses such as a new library or City Hall to locate on or immediate to the corridor to provide a significant population to patronize local businesses. • Provide a predictable and clear regulatory process including mixed use zoning along 38th Avenue and regulations that support the Main Street district. • Retain and expand incentive programs (grants and loans) that stimulate private sector investment. Appeal -Create an attractive, comfortable, inviting atmosphere. • Implement pedestrian-oriented urban design strategies and regulations. • Create a consistent street edge with commercial buildings placed near or at the front lot line along 38th Avenue, especially within the Main Street Sub-district. 44 • Provide opportunities for casual social interaction by incorporating gathering spaces into the streetscape or via pocket plazas and park space. • Incorporate public art into the streetscape. • Generously provide landscaping via trees, planters, and hanging pots to provide visual appeal, protection from the elements, and a buffer from vehicular traffic. • Provide pedestrian lighting that results in a safe, welcoming nighttime environment. • Utilize high-quality materials that are relatively easy to maintain. • Provide routine maintenance to sustain a safe streetscape free of obstructions and ensure a high level of plant health, cleanliness, and repair. • Minimize the visual clutter of signage through new regulations or design standards. Mobility -Develop a complete street that better accommodates pedestrians, cyclists, and transit riders while maintaining adequate vehicular access and parking. • Reduce the number of vehicular travel lanes on 38th Avenue where feasible. • Consolidate and reduce curb cuts to minimize conflicts among pedestrians, bicyclists and motorists. • Embrace shared parking strategies and restrict off-street parking to the sides and backs of buildings along 38th Avenue. • Create an unobstructed walkway at least 6 feet wide that is detached from 38th Avenue with an amenity zone. • Clearly identify and improve pedestrian crossings across 38th Avenue as well as crossings along 38th Avenue from block to block. • Consider developing bulb-outs at feasible intersections to help further traffic calming, reduce the pedestrian crossing distance, and increase the visibility of pedestrians by motorists. • Provide adequate amenities as feasible, including benches, trash cans, pedestrian lighting, and bicycle racks. • Enhance visibility of and amenities at transit stops working closely with RTD. • Strengthen connections to the surrounding neighborhoods to encourage mobility for pedestrians, cyclists, and the disabled. • Strengthen connections to other non-vehicular networks, such as adjacent bike facilities, both existing and planned. 4 -PLAN RECOMMENDATIONS Pages 54 through 56 4.3 -LAND USE AND URBAN DESIGN Corridor-Wide Recommendation 4.3-2: Encourage quality, pedestrian-friendly architecture that places buildings close to the street. Guiding Principle: Identity 45 The identity of 38th Avenue depends on high-quality architecture. To promote a pedestrian-friendly street, buildings with active ground floors should be located close to the sidewalk. The City should implement new zoning -such as the Mixed Use-Neighborhood zone district -with design standards that will complement the vision for the corridor. Recommendation 4.3-5: Incorporate public gathering spaces into streetscape design and develop public spaces along the corridor. Guiding Principle: Appeal Public gathering spaces will enhance the image of the corridor, complement surrounding land uses and business, and provide opportunity for social interaction and enjoyment. The streetscape design, especially for Main Street, should include places to sit and gather. Public and private redevelopment on 38th Avenue should incorporate new public spaces such as pocket parks, plazas, and community gardens. Recommendation 4.3-6: Develop a parking strategy for the corridor that includes shared parking and parking reservoirs. Guiding Principle: Mobility As the corridor redevelops, the provision of adequate parking will be an important strategy. Since many parcels are small and may not be able to meet parking needs on-site, shared parking will be an important tool. The approach for parking on the corridor should include allowing and encouraging shared parking on private property, as well as identifying key parking reservoirs. In the short-term, existing parking lots such as the one in front of Wheat Ridge Middle School can provide parking for adjacent uses. As the corridor develops over the long-term, redevelopment plans should include parking reservoirs, especially parking garages. Strategic placement and successful usage of off-street parking reservoirs could partially reduce the need for on-street parking in some locations, thereby creating more room for other amenities on the st reet. Pages 56 through 59 Main Street Main Street is envisioned as the focal point of both downtown Wheat Ridge and 38th Avenue. As such, there are a few key land use and urban design recommendations specific to this sub-district. Recommendation 4.3-7: Design and build new streetscape improvements and gateway elements that create an attractive and consistent image for Main Street. Guiding Principle: Identity Gateway signs, vertical elements, and other enhancements that clearly mark entry into Main Street should be utilized at both the western and eastern ends of the district. Signage and streetscape design should be developed in conjunction with the branding I marketing strategy for Main Street in order to create a strong identity for this sub-district. The streetscape design for Main Street should include some common elements that link it to the rest of the corridor, as well as unique, enhanced features that distinguish it from the Residential and Sheridan Commercial sub-districts. 46 Recommendation 4.3-8: Encourage infill development with land uses, building placement, and architecture that supports a Main Street environment. Guiding Principle: Identity The proposed mixed use zoning for this sub-district should support a mix of uses and include design standards that promote a main street environment -encouraging the placement of buildings close to the street and quality, human-scaled architecture. Figure 23 is an illustrative plan of what Main Street could look like in the year 2030. It identifies opportunity sites for infill development that could be catalytic projects in both the short and long term. The new buildings shown would bring approximately 65,000 SF of new ground floor uses (retail or offices) and 56,000 square feet of new upper floor uses (office or residential) to Main Street. As discussed in more detail below, the development program for this sub-district also includes about 85,000 square feet of new public and quasi-public uses within a proposed civic center. Recommendation 4.3-9: Foster a new civic center on Main Street that includes public and quasi-public uses. Guiding Principle: Vitality Throughout the visioning process, many stakeholders mentioned the desire for public uses that would regularly draw residents to the corridor. A civic center would provide a focal point for Main Street and bring a significant number of employees and customers to 38th Avenue. The public uses would draw new activity to the corridor and create a large number of patrons for nearby businesses. As a long-term goal, the City should pursue the possibility to relocate city offices to the Main Street sub- district. This location contains underutilized parcels that could be assembled to support approximately 85,000 square feet of development, including a new City Hall, police station, and complementary civic uses. The civic center is adjacent to a proposed parking structure, which would provide a large parking reservoir for the center as well as for adjacent retail uses -both existing and proposed. The proposed civic center would build upon existing public uses in the area, including two schools and the Wheat Ridge Fire Station. Quality public spaces, such a park or plaza in front of the civic center and community gardens surrounding the school, would help link public uses to 38th Avenue. Public open space is a key component for the civic center since it would draw people to the corridor and provide opportunities for outdoor special events. The proposed community gardens surrounding the school could be pursued in the short term, while the rest of the civic center is a longer-term goal for Main Street. Wadsworth Town Center The Wadsworth Town Center forms an important gateway into Main Street and contains opportunity sites for new development. Recommendation 4.3-13: Encourage the redevelopment of t he southwest corner of Wadsworth and 38th Avenue to create an attractive gateway for the corridor. Guiding Principle: Vitality 47 This site, about 14 acres in sile, represents a significant opportunity for new development adjacent to the corridor. New Mixed Use-Commercial (MU-C) zoning recently adopted on Wadsworth should encourage a mix of uses and pedestrian-friendly design. Due to the site's size and visibility from Wadsworth, larger-format retailers and national chains would fit well. It makes sense to redevelop the site with this type of retail use, which will not compete with the boutique-type retail envisioned for 38th Avenue, as long as the design includes pedestrian connectivity and quality architecture. Ideally, new development at this site will be mixed use, with office and I or residential uses in addition to retail. New residents at this location would support new businesses on 38th Avenue. Residential uses at the southern end of the site provide an important transition to the residential neighborhood to the south. Design of the corner of Wadsworth and 38th Avenue is especially important for creating an inviting gateway into the Main Street sub-district. Recommendation 4.3-14: Improve pedestrian crossings at 38th Avenue across Wadsworth. Guiding Principle: Mobility Safer pedestrian access across Wadsworth could draw more people to 38th Avenue. Comfortable and safe crosswalks, including raised tables in turn pockets, would help to connect the corridor to new development on Wadsworth, to the Exempla-lutheran Campus, and to existing residential neighborhoods, all of which contain potential patrons for businesses on 38th Avenue. 48 Appendix 8: West End 38 Urban Renewal Plan City of Wheat Ridge, Colorado Legal Description ond Supporting Illustration for the Urbon Renewal Plan and Tax Increment Financing Area Wes t E11d 38 Urlln11 Re11ewnl Pln11 (12.14.2015) 49 LEGAL DESCRIPTION FOR ZONELOT A PARCEL OF LAND LOCATED IN THE OUTIIEA T 1/4 OF SECTION 23. TOWNSH IP 3 OUTH. RANGE 69 WE T OF THE 6.111 PRINCIPAL M ERIDI AN. AND THE NORTHEAST 1/4 OF ECTION 26. TOWN HIP 3 OUTH. RANGE 69 WE T OF TilE 6111 PRINCIPAL MER IDIAN CITY OF WHEATRIDGE. COU TY OF JEFFERSON. STATE OF COLORADO. BEl G MORE PA RTICULARLY DESC RIBED A FOLLOWS: COMME CJNGAT THE OUTH 1/4COR EROF ECTIO 23 FROM WilE CETHE OUTHEAST COR ER OF SA ID SECTION 23 BEAR 89°38'24" E A Dl TA CE OF 2633 .65 FEET WITH ALL BEARINGS HEREIN RELATIVE THERETO: TIIENCE N 75°46'40" E A DISTANCE OF 542.64 FEET TO THE POINT OF BEGINNING; THENCE 00°10'12" W. ALONG THE WEST LINE OF A PARCEL OF LAND A DESCRIBED I DEED RECORDED I JEFFER ON COU TY RECORD ER OFFICE U DER RECEPTIO NUMBER F0050611A Dl TA CE OF 200.55 FEET: THE CE 89°38'12"E.ALO GTHENORTHLJ EOF A IDPARCEL A DI TANCEOF 131.83 FEET TO THE OUTHWEST COR ER OF LOT I. E.S. ALLEN UBDlVISIO A RECORD ED IN JEFFER ON COUNTY RECO RDER OFFICE UNDER RECEPTION NUMBER 20 I 0000090: TIIENCE N 00°12'07" W. ALONG TH E WEST LINE OF SA ID LOT I A Dl TA CE OF 119.99 FEET; THE CE 89°38'48" E. ALO G TH E ORTII Ll E OF A ID LOT I A Dl TA CE OF 354.09 FEET TO THE EA T RIGHT OF WAY Ll E OF UPHAM TREET A PEREA 'EME T DOCUMENT RECORDED I JEFFERSO COUNTY RECORDERS OFFICE UNDER RECEPTION NUMBER 94113597: TIIENCE 00°13'03" E. ALONG SAID EA T RIGHT OF WAY LINE A DISTANCE OF 483.01 FEET TO THE OUTII RIGHT OF\ A Y UNE OF WE T 38n 1 AVENUE A PER EASEMENT DOCUMENT RECORDED IN .IEFFER ON COUNTY RECO RDER OFFICE UNDER RECEPTION UMBER 90086570. 90086575. 90086572 A D 90086573: THENCE 89°38'24" W, ALO G SA ID OUTII RI GHT OF WAY L1 E A Dl TA CE OF 354.42 FEET: THENCE N 00°11'13" W. A DISTANCE OF 162.65 FEET TO THE SOUTII LIN E OF A PARCEL OF LAND A DE CRIBED IN DEED RECORD ED IN .JEFFERSON COUNTY RECORDER OFFICE UNDER RECEPTI ON NUMBER F00506 11 A: TH ENCES 89°34'48"W.ALO G AIDSOUTIILINEA DI TA CEOFI31.79FEET TOTHE POINT OF BEGIN lNG . CONTAINING: 197.537 QUARE FEET OR 4.535 ACRES OF LA D. MORE OR LESS. 50 ILLUSTRATION FOR ZONE LOT SITUATED IN THESE 1/4 SECTION 23 & NE 1/4 SECTION 26. T3S. R69W. OF THE 6TH P.M. CITY OF WHEATRJDGE, COUNTY OF JEffERSON. STATE OF COLORADO 1DT I. LOQC 1, ~T -~ f1IIST FUIO IIEC. NO. f'OIM207 liJO wADS'Mllml aw. (MIDI: ~,._ 014 • ~1NDGE 014 N89'38'12"E 131.83' 3: 1'-" ocn -C1> N . .... en . .-o .... 0 z IDT 2. E..S. AI.ID4 ...,.....,.. .:c. NO. 20100110010 llllll Ul'tWI ST. (MIDI: ..., Ul'tWI I'IICftlmD u.c N89'38' 48"E 354.09' 3: 'Nin _..--I() L---------------~ w o· .... o •0 ON 0 z POINT OF BEGINNING 589'34' 48"W 131 .79' ZONE LOT 197,537 SO. FT., OR 4.535 ACRES ± VICINITY MAP S89'38'24"W 354.42' 1• • 1 ~ILE W ~lli AVE W 381li AVE ~ ~Sri£..,. (I) ;; ~ W 3~0 AVE ~ ~ r---:I: ~ 100 i0-o.--0 t'1,.r) roo 0-:t 0 (/) GRAPHIC SCALE 0 50 100 lN US SURVEY FEET ) 1 inch = 100 fl 200 THIS ILLUSlRA TlON DOES NOT REPRESENT A MONUMENTED SURVEY. IT IS INTENDED ONLY TO DEPICT THE ATIACHED DESCRIPTION. PREPARED BY: FALCON SURVEYING, INC., 9940 WEST 25TH AVE, LAKEWOOD CO 80215 303)202-1560 51