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Home My WebLink AboutResolution 2017-0010TITLE: CITY OF WHEAT RIDGE, COLORADO RESOLUTION NO. 10 .-Series of 2017 A RESOLUTION APPROVING A COOPERATION AGREEMENT BETWEEN THE WHEAT RIDGE UBRAN RENEWAL AUTHORITY AND THE CITY OF WHEAT RIDGE CONCERNING THE WHEAT RIDGE CYCLERY IMPROVEMENTS AGREEMENT WHEREAS, Wheat Ridge Urban Renewal Authority (WRURA) is authorized under the provisions of Colorado's Urban Renewal Law to enter into agreements and provide financial incentives for the redevelopment of property to eliminate blight; and WHEREAS, WRURA desired to assist the Wheat Ridge Cyclery (Cyclery), 7085 West 39th, in making improvements to the property to enhance appearance, remedy deterioration and maintain a positive business environment within the WRURA boundaries; and, WHEREAS, on March 21, 2007, an Improvement Agreement (Agreement) was made between the WRURA and the Cyclery; and, WHEREAS, according to the Agreement, the City has been collecting sales tax increment and remitting the same to the WRURA in order to implement the provisions of the Improvements Agreement; and WHEREAS, the WRURA's financial obligations have been satisfied per the original Agreement, the City will discontinue collecting any sales tax increment and shall discontinue remitting any sales tax increment to the WRURA; and WHEREAS , the City has proposed a new Cooperation Agreement between the WRURA dba Renewal Wheat Ridge and the City of Wheat Ridge, Colorado. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, Colorado, as follows: The collection and remittance of incremental sales tax shall be discontinued upon the execution of this Cooperation Agreement and will supersede and replace any previous agreement regarding the collectio'n of incremental sales tax for obligations related to the Improvement Agreement of March 21, 2007 ATTEST: Attachments: Exhibit A-Cooperation Agreement of March 7, 2017 COOPERATION AGREEMENT THIS COOPERATION AGREEMENT ("Agreement") is made this·r~ay of March, 2017, retroactive to January 1, 2017 (the "Effective Date"), between the WHEAT RIDGE URBAN RENEWAL AUTHORITY d/b/a RENEWAL WHEAT RIDGE, a Colorado body corporate and politic ("Authority"), and the CITY OF WHEAT RIDGE, COLORADO, a home rule municipal corporation of the State of Colorado ("City"). WHEREAS, the City has previously been collecting sales tax increment and remitting the same to the Authority in order to implement the provisions of that Improvements Agreement dated March 21, 2007, between the Authority and Wheat Ridge Cyclery (the "Improvements Agreement"); WHEREAS, the Authority's obligations under the Improvements Agreement have been satisfied, although obligations for other undertakings and activities within the 3gth Avenue Corridor Redevelopment Plan (the "Plan Area") as a whole remain. NOW THEREFORE, in consideration of the mutual covenants contained herein, the sufficiency of which is hereby acknowledged by the parties, the Authority and the City agree as follows: 1.0 DISCONTINUANCE OF COLLECTION AND REMITTANCE OF INCREMENTAL SALES TAX. The City and the Authority agree that upon the Effective Date of this Agreement, the City shall discontinue collecting any sales tax increment and shall discontinue remitting any sales tax increment to the Authority based on the obligations of the Improvements Agreement being satisfied. Provided however, because obligations of the Authority remain in the Plan Area as a whole, nothing in this Agreement shall impact the continuing obligations of the Authority, and the Authority's ability to receive property tax increment within the meaning of the 3gth Avenue Corridor Redevelopment Plan. 2.0 AUTHORITY AND CITY RELATIONSHIP. The Authority and the City agree that they are separate and independent entities and that the acts and omissions of one shall not be considered the acts and omissions of the other. 3.0 MISCELLANEOUS a) This Agreement supersedes and replaces any previous agreement regarding the collection of incremental sales tax for obligations related to the Improvements Agreement set forth herein. b) This Agreement shall be binding on the parties, their agents, subcontractors, successors, or assigns. c) Authorized Representatives. To the extent that an action is required to be taken by any party to this Agreement, such action may, subject to the last sentence of this Section, be taken by the following representatives: for the City, the City Manager, or such other person appointed by the foregoing in writing and furnished to the other parties to this Agreement; for the Authority, the Chairman, or such other 1 person appointed by the foregoing in writing and furnished to the other parties to this Agreement. d) Notice. Any required notice shall be given as follows: If to the City: With a copy to: Ifto the Authority: With copy to: Corey Y. Hoffmann, Attorney at Law Hoffmann, Parker, Wilson & Carberry, P.C. 511 Sixteenth Street, Suite 610 Denver, Colorado 80202 Telephone: (303) 825-6444 e) Severability. Any provision of this Agreement that is prohibited, unenforceable, or not authorized in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition, unenforceability or lack of authorization without affecting the validity, enforceability, or legality of such provisions in any other jurisdiction. No party to this Agreement shall be liable to the other parties with respect to any such provision finally adjudicated in accordance with applicable law to be prohibited, unenforceable, or not authorized by law. IN WITNESS WHEREOF, the parties hereto have executed this Agreement. ATIE1':1u l~ Steve Art, Executive Director WHEAT RIDGE URBAN RENEWAL AUTHORITY Tim Rogers, Chairperson 2 CITY OF WHEAT RIDGE By: ATTEST: J J 3 ,, WHEAT RIDGE URBAN RENEW AL AUTHORITY RESOLUTIONNO. _al_-07 Series of 2007 A RESOLUTION OF THE WHEAT RIDGE URBAN RENEWAL AUTHORITY APPROVING THE IMPROVEMENTS AGREEMENT WITH WHEAT RIDGE CYCLERY WHEREAS, the 38111 Avenue Corridor Redevelopment Plan provides for the redevelopment project consisting of the expansion of Wheat Ridge Cyclery at 3gt11 Avenue and High Court; and WHEREAS, representatives of Wheat Ridge Cyclery and the staff of the Authority have negotiated an improvement agreement. THEREFORE BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority that: Section 1. The Improvements Agreement between the Authority and Wheat Ridge Cyclery attached hereto as Attachment 1 is hereby approved. ' 1't""' . DONE AND RESOLVED this 20 day of fo'bv.u ~ 2007. Chair ATTEST: <lq/L~u:.. Secretary APPROVED AS TO FORM: C~f~ [RA A ttorney .-. WHEAT RIDGE URBAN RENEWAL AUTHORITY IMPROVEMENTS AGREEMENT THIS AGREEMENT is made and entered into this 2l~ day of f.''\s.tc"" , 2007, by and between the Wheat Ridge Urban Renewal Authority ("WRURA"), and the Wheat Ridge Cyclery, with a business address of 7085 West 3gth Avenue, Wheat Ridge, CO 80033 (the "Cyclery") (collectively referred to herein as the "Parties"). WHEREAS, WRURA is authorized under the provisions of Colorado's Urban Renewal Law, C.R.S. § 31-25-101, et seq., to enter into agreements and provide financial incentives for the redevelopment of property to eliminate blight; WHEREAS, such redevelopment may be made and encouraged by granting financial assistance to persons who reside within WRURA boundaries, to businesses within the WRURA boundaries, and to owners of property within WR URA boundaries; WHEREAS, the Cyclery owns a business located at 7085 West 38111 Avenue, Wheat Ridge, CO 80033, the legal description of which is attached hereto as Exhibit A (the "Property"), which is within the WRURA boundaries, and which provides an important economic base for the City of Wheat Ridge (the "City''); WHEREAS, WR URA desires to assist the Cyclery in making a number of improvements to the Property, which shall improve the public appearance of the ·Property, remedy its deterioration, maintain a positive business environment in the neighborhood, and serve as an anchor to attract other desirable businesses to the neighborhood; WHEREAS, the Cyclery desires to expend additional funds as part of the redevelopment of the Property that will assist in remedying blight and preventing future blight in the area, and WRURA desires to assist in providing this additional funding directed towards blight prevention and elimination; and WHEREAS, WRURA desires to reimburse the Cyclery for its expenditures by paying to the Cyclery the sales and property tax increments WRURA receives from the Property, pursuant to the terms set forth in this Agreement. NOW, THEREFORE, in order to promote redevelopment and eliminate blight within the WRURA boundaries, and in consideration of the promises herein contained, the Parties hereby agree as follows: 1. Definitions. a. "Property Tax Increment" means the amount of property taxes paid to the Cowity for the Property and then paid to WRURA by the County over and above the base amount of property tax last certified to the County for the Property prior to WRURA's implementation of property tax increment financing for the Property. 03116107 I lsrv-ci-eng-002\users $\awhite\All Files\ URA 13 8th Avenue\ WRCyclery\JmprovementAgreement _ Cyclery-4.doc b. "Sales Tax Increment" means the amount of sales tax generated by the Cyclery and collected by the City over and above the base amount of sales tax generated by the Cyclery on the Property and collected by the City in the year immediately preceding WR URA' s implementation of sales tax increment financing for the Property. 2. Improvements. a. Attached to this Agreement as Exhibit B is a list of the Cyclery's plan for certain public improvements to the Property, which are referred to collectively as the "Eligible Improvements." The Eligible Improvements shall be constructed in compliance with approved construction plans by a licensed contractor qualified to perform the work. b. The Cyclery agrees to complete the Eligible Improvements on or before October 1, 2007. Completion of the Eligible Improvements shall be deemed to have occurred upon final acceptance of the Eligible Improvements by the City. The Eligible Improvements shall be completed by October 1, 2007 regardless of cost increases or other unforeseen circumstances. 3. Sales and Property Tax Increment Rebates. a. Sales Tax Increment. As an inducement to the Cyclery to complete the Eligible Improvements, WRURA agrees to set aside and thereafter rebate to the Cyclery, on the percentage basis identified herein, the Sales Tax Increment generated by the Cyclery to a maximum aggregate amount set forth in Section 4 of this Agreement. Such rebate shall be subject to the following: i. Commencing upon completion of the Eligible Improvements, WRURA shall rebate to the Cyclery one hundred percent (100%) of all Sales Tax Increment generated by the Cyclery and received by WRURA. The rebates shall be made annually on January 31st of each year, and shall be for the preceding year. ii. If, in any year, no Sales Tax Increment is generated by the Cyclery and received by WRURA, no rebate shall be due to the Cyclery for that year. 111. The Sales Tax Increment rebate payable to the Cyclery shall ·be prorated for the initial year such rebate is due based upon the date the Cyclery completes the Eligible Improvements. b. Property Tax Increment. As an inducement to the Cyclery to complete the Eligible Improvements, WRURA agrees to set aside and thereafter rebate to the Cyclery, on the percentage basis identified herein, the Property Tax Increment generated by the Property to a maximum aggregate amount set forth in Section 4 of this Agreement. Such rebate shall be subject to the following: i. Commencing on completion of the Eligible Improvements, WRURA shall rebate to the Cyclery one hundred percent (100%) of all Property Tax Increment generated by the Property and received by WRURA. The rebates 2 03116107 I \srv-ci-eng-002\users$\awhite\All Files\ URA \38th Avenue I WRCyclery \JmprovementAgreement _ Cyclery-4. doc I I I I I I I ! I I I I I I I i I I I 1· I· I I shall be payable within thirty (30) days of receipt of the Property Tax Increment by WR URA from the County. ii. If, in any year, no Property Tax Increment is generated by the Property and received by WRURA, no rebate shall be due to the Cyclery for that year. m. The Property Tax Increment rebate payable to the Cyclery shall be prorated for the initial year such rebate is due based upon the date the Cyclery completes the Eligible Improvements. 4. Maximum Rebate. In no event shall the total amount rebated by WRURA to the Cyclery exceed the total estimated costs of the Eligible Improvements, which is Two Hundred Sixty Four Thousand One Hundred Eighty dollars ($264,180.00) (the "Estimated Costs"). Notwithstanding the foregoing, if the total actual costs of the Eligible Improvements are less than the Estimated Costs, said maximum amount shall not exceed the actual costs of the Eligible Improvements. The actual costs of the Eligible Improvements shall be evidenced by invoices and receipts satisfactory to WR URA in form and substance. 5. Term. The term of this Agreement shall be ten (10) years from the completion of the Eligible Improvements. Upon receipt of the maximum rebate amount by the Cyclery in accordance with this Agreement, WRURA's obligation to rebate Sales Tax and Property Increments to the Cyclery shall terminate. Upon expiration of the term of this Agreement, the parties' obligations hereunder shall terminate, whether or not the maximum amount of Sales and Property Tax Increment rebate has been reached. 6. Inspection. The Cyclery agrees to permit officials or representatives from WRURA to inspect the Property at any reasonable time to determine whether the specified improvements have been commenced or completed, and to determine whether such improvements meet the requirements set forth in this Agreement. 7. Compliance with law. In carrying out its obligations under this Agreement~ the Cyclery agrees to comply with all applicable laws, including City ordinances and building codes. 8. Limitation of Liability. IN NO EVENT WILL WRURA BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT, EXEMPLARY, SPECIAL OR INCIDENTIAL DAMAGES, INCLUDING ANY LOST PROFITS, ARISING FROM OR RELATING TO THIS AGREEMENT. WRURA'S TOTAL CUMULATIVE LIABILITY IN CONNECTION WITH THIS AGREEMENT WHETHER IN CONTRACT OR TORT OR OTHERWISE, SHALL NOT EXCEED THE AMOUNT AGREED TO BE PAID TO THE CYCLERY HEREUNDER. BOTH PARTIES ACKNOWLEDGE THAT THE FEES REFLECT THE ALLOCATION OF RISK SET FORTH IN THIS AGREEMENT AND THAT NEITHER PARTY WOULD ENTER INTO THIS AGREEMENT WITHOUT THESE LIMITATIONS ON THEIR LIABILITY. 3 03116107 \ \srv-ci-eng-002\users$\awhite\All Files\ URA \38th Avenue\ WRCyclery\ImprovementAgreement _ Cyclery-4.doc I I I r I ! I i 1. i ! I I I i i. ! i· I i l I I 9. Miscellaneous. a. Governing Law and Venue. This Agreement shall be governed by the laws of the State of Colorado, and any legal action concerning the provisions hereof shall be brought in the District Court of Jefferson County, Colorado. b. No Waiver. Delays in enforcement or the waiver of any one or more defaults or breaches of this Agreement by the WRURA shall not constitute a waiver of any of the other terms or obligation of this Agreement. c. Integration. This Agreement and any attached exhibits constitute the entire Agreement between the Cyclery and WRURA, superseding all prior oral or written communications. d. Third Parties. There are no intended third-party beneficiaries to this Agreement. None of the professionals, contractors, or subcontractors hired by the Cyclery shall be intended third-party beneficiaries of this Agreement. e. Notice. Any notice under this Agreement shall be in writing, and shall be deemed sufficient when directly presented or sent pre-paid, first class United States Mail, addressed to: WURA: Cyclery: Alan White, Executive Director Wheat Ridge Urban Renewal Authority 7500 W. 29th Avenue Wheat Ridge, CO 80033 With a copy to: Corey Hoffinann Hayes, Phillips, Hoffmann & Carberry, PC Suite 450, The Market Center 1350 17th Street Denver, CO 80202-1576 \:? orJ Al-A & f<i 6ff;L 7085 West 38th Avenue Wheat Ridge, CO 80033 f. Severability. If any provision of this Agreement is found by a court of competent jurisdiction to be unlawful or unenforceable for any reason, the remaining provisions hereof shall remain in full force and effect. g. Modification. This Agreement may only be modified upon written agreement of the Parties. 4 03116107 I \srv-ci-eng-002\users$\awhite\All Files\URA \38th Avenue\WRCyclery\ImprovementAgreement _ Cyclery-4.doc I I I I i I I l I I I /. I I I· I I ~ l I i 1· I i i ' l I 1 ' I ! 1 h. Assignment. Neither this Agreement nor any of the rights or obligations of the Cyclery shall be assigned by the Cyclery without the written consent of WR URA. i. Governmental Immunity. WRURA, its officers, and its employees, are relying on, and do not waive or intend to waive by any provision of this Agreement, the monetary limitations (presently one hundred fifty thousand dollars ($150,000) per person and six hundred thousand dollars ($600,000) per occurrence) or any other rights, immunities, and protections provided by the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq., as amended, or otherwise available to WRURA and its officers or employees. j. Rights and Remedies. The rights and remedies of WRURA under this Agreement are in addition to any other rights and remedies provided by law. The expiration of this Agreement shall in no way limit WR URA' s legal or equitable remedies, or the period in which such remedies may be asserted, for work negligently or defectively perfonned. IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the date first set forth above. STATE OF COLORADO COUNTY OF :re ffer.Sot" ) ) SS. ) WHEAT RIDGE URBAN RENEW AL AU~TY By: ~~~~~~~~~~~~....,..,.-= By: The foregoing instrument was subscribed, sworn to and acknowledged before me this ~( s·1 day of fba.cc h , 2007, byl<ona.lrl )'\ l(\e.{d, as \J\c.~ f'fts . of the Wheat Ridge Cyclery. My commission expires: (SEAL) 5 03116107 I \srv-ci-eng-002\users$\awhite \All Files\ URA \38th Avenue\ WR Cyclery \ImprovementAgreement _ Cyclery-4. doc EXHIBIT A Commencing at the southeast comer of Section 23, Township 3 South, Range 69 West of the 6fh Principal Meridian; thence S89°38'23''W a distance of 1018.72 feet along the south line of said Section; 'thence N00°1410l"W a distance of 30.00 feet to the southeast comer of I...Ot 1, Craig Subdivision and the Pofut of Beginning; thence along the southerly and westerly lines of said Lot 1 and the westerly line of said Lot 2, :the following 3 counies: 0 S89°38'23''W a distance of 104.97 feet to a point of curvature; 2) along the arc of a curve to the right having a radius of 15 .. 06 feet through a cen1ral angle.of 90007'36" and having an arc length of.23.60 feet, a chord bearing N45°1T'49''W and a chord length of 21.24 feet to a point of tangency; 3) N00"14'01 "W a distance of 210.97 feet to the northwest comer of the south 6 feet of said Lot 2; Thence N89°38'23"E a distance of 120.00 feet along the north line of the south 6 feet of said Lot 2; thence S00014'0l"E a distance of 226.00 feet along. the east line of said Lot 1 and said Lot 2 to the Point of Beginning, · Containing 27,070 square feet or 0.621 acres more or less. I I I l I I I I. I I EXHIBITB ELIGIBLE ™PROVEMENTS AND ESTIMATED COSTS a. Masonry. The Cyclery shall undertake a project at an estimated cost of Thirty Seven Thousand Twenty dollars ($37,020.00) for masonry work around the Property, which shall meet the specifications set forth in the schedule attached hereto as Exhibit B- l. b. Utilities. The Cyclery shall undertake a project to upgrade its power system to a 3-phase system and to un~erground the power line across High Court, at an estimated cost of Thirty Thousand Eight Hundred Twenty dollars ($30,820.00), which shall meet the specifications set forth in the schedule attached hereto as Exhibit B-2. c. Roof System. The Cyclery shall undertake to expend approximately One Hundred Fifty Five Thousand Eight Hundred Ten dollars ($155,810.00) in roof repairs, which shall meet the specifications set forth in the schedule attached hereto as Exhibit B- 3. d. Paving Stone/Hardscape and Landscaping. The Cyclery shall undertake a project to install pave stone or stamped concrete along the new store front on High Court and install planter and landscaping at 381h and High Court at an estimated cost of Fourteen Thousand Eight Hundred Ten dollars ($14,810.00), which shall meet the specifications set forth in the schedule attached hereto as Exhibit B-4. e. Curb and Gutters. The Cyclery shall undertake a project to install 220 lineal feet of curb and gutter along High Court at an estimated cost of Eight Thousand Four Hundred Twenty dollars ($8,420.00), which shall meet the specifications set forth in the schedule attached hereto as Exhibit B-5. f. Demolition. The Cyclery shall undertake a project to demolish certain improvements which are necessary for the elimination of blight and are part of the redevelopment of the Property, at an estimated cost of Four Thousand Eight Hundred dollars ($4,800.00), which shall meet the specifications set forth in the schedule attached hereto as Exhibit B-6. g. Public Arts Panels. The Cyclery shall undertake a project to install public arts panels at an estimated cost of Twelve Thousand Five Hundred dollars ($12,500.00), which shall meet the specifications set forth in the schedule attached hereto as Exhibit B- 7. 03116107 I lsrv-ci-eng-002 \users $\awhite \All Files I URA \3 8th Avenue I WR Cyclery \ImprovementAgreement _ Cyclery-4. doc I EXHIBITB-1 MASONRY WORK SPECIFICATIONS 1. Upgrade 1304 square feet of concrete masonry block, split face and smooth face block with integral coloring. 2. Construct six upgraded stone columns at entrance, including upgraded capstones, construct 1,800 square feet of stone fa9ade, and install three stone landscape pillars with upgraded capstones. 3. Install new storefront window on existing west exterior wall. Total $37,020.00 03116107 I lsrv-ci-eng-002\users $\awhite\All Files\URA \3 8th Avenue I WRCyclery \lmprovementAgreement _ Cyc/ery-4.doc i I I: i EXHIBITB-2 UTILITY WORK SPECIFICATIONS 1. Disconnect, relocate and underground overhead electric lines; convert to 3-phase. 2. Disconnect and relocate natural gas line. Total $30,820.00 03116107 I \srv-ci-eng-002\users$\awhite \All Files\ URA \3 8th Avenue\ WRCyclery \JmprovementAgreement_ Cyclery-4.doc I· I l I ' ! I I j I I I I I I I ' I I ! i ! ! f f i· I i i I I I i I j I l EXHIBITB-3 ROOF SYSTEM SPECIFICATIONS 1. Install 7,000 square feet of new upgraded metal roof system with special bow trusses, spray-on insulation and green standing seam metal roofing. Total $155,810.00 03116107 I \srv-ci-eng-0021users$\awhite\All Files\ URA \38th Avenue\ WRCycleryllmprovementAgreement _ Cyclery-4.doc EXHIBITB-4 HARDSCAPE AND LANDSCAPE SPECIF1CATIONS L lnstall 1,016 square feet of paver stone at front of new entrance. 2. Install additional landscaping in planter at northwest comer of building. 3. Install new street tree at southwest corner of building. Total $14,810.00 03116107 I '.srv-ci-eng-002\users$\awhite\All Files\URA \38th Avenue\ WRCyclery'JmprovementAgreement _ Cyclery-4.doc ! I I I I I I ! EXHIBITB-5 CURB AND GUTTER SPECIFICATIONS 1. Cut and remove asphalt; install 14 7 linear feet of curb and gutter, drain pan, handicapped ramp; patch back and restripe. Total $8,420.00 03116107 I lsrv-ci-eng-002\users$\awhite1All Files\ URA 13 8th Avenue I WRCyclerylJmprovementAgreement _ Cyclery-4. doc I I I· I ! I I I I I I 1. ,. I EXHIBITB-6 DEMOLITION WORK SPECIDCATIONS 1. Demolition of structures and paved areas within urban renewal portion of property. Total $4,800.00 03116107 I lsrv-ci-eng-002\users$ \awhite\All Files I URA 138th A venue I WRCycleryllmprovementAgreement _ Cyclery-4. doc I i j I I I j· I I I i i ! EXHIBITB-7 PUBLIC ARTS PANELS SPECIFICATIONS 1. Fabricate and install art panels on west and south exterior walls, including architectural metal banding at top of parapets on south side of building. Total $12,500.00 03/21107 \ lsrv-ci-eng-002\users$\awhite\All Files I URA \3 8th Avenue \WRCyclery\ImprovementAgreement _ Cyclery-4.doc I I ! I ' EXHIBITB-7 PUBLLIC ARTS PANELS SPECIFICATIONS 1. Fabricate and install art panels on west and south exterior walls, including architectural metal banding at top of parapets on south side of building. Total $12,500.00 03116107 I \srv-ci-eng-002\users $ \awhite\All Files I URA \38th Avenue\ WR Cyclery\lmprovementAgreement _ Cyclery-4. doc