HomeMy WebLinkAboutStudy Session Agenda Packet 10-15-2018
STUDY SESSION AGENDA
CITY COUNCIL CITY OF WHEAT RIDGE, COLORADO
7500 W. 29th Ave.
Wheat Ridge CO October 15, 2018
6:30 p.m.
Individuals with disabilities are encouraged to participate in all public meetings sponsored by the City of Wheat Ridge. Call Sara Spaulding, Public Information
Officer 303-235-2877 at least one week in advance of a meeting if you are
interested in participating and need inclusion assistance.
Citizen Comment on Agenda Items
1. Bulk Plane Regulations in all Residential Districts
2. 38th and Johnson Park Property Sale
3. Procedure for Appointment of Elected Officials
4. Staff Report(s)
5. Elected Officials’ Report(s)
ADJOURNMENT
Memorandum
TO: Mayor and City Council
FROM: Kenneth Johnstone, Director of Community Development THROUGH: Patrick Goff, City Manager DATE: October 5, 2018 (for October 15 City Council Study Session)
SUBJECT: Residential Bulk Plane Applied Citywide
ISSUE:
City staff began researching the topic of residential bulk plane and residential building heights early in 2016. This research was initiated, in part, based on feedback the City was receiving in regards to recent infill residential development, in particular on the City’s east side. Historically, the city has regulated residential development based on setbacks from property lines, maximum
building coverage and maximum building heights, but has not utilized the concept of
“bulk/plane”. The intent of that research was to benchmark the City’s residential development standards relative to surrounding jurisdictions and advise Council of those results and of possible options for additional residential development standards.
After discussion at several City Council study sessions over the course of the summer and fall of
2016, City Council ultimately adopted residential bulk plane regulations that apply in the R-1C zone and district, which is a small lot single family zoning district, most prevalent on the City’s east side. The bulk plane regulations were also adopted to be applicable on single family homes zoned R-3, which are also fairly common on the City’s east side. Those regulations went into
effect in November 2016.
Councilmembers Hoppe and Pond requested that a discussion item be included on a study session agenda to review the possibility of applying the R-1C bulk plane regulations in all residential zoning districts citywide.
BACKGROUND AND PRIOR ACTIONS: At a July 18, 2016 study session, staff brought forward the results of initial research and after discussion, City Council provided consensus to move forward drafting regulations regarding residential bulk plane standards. It was noted during that meeting that looking at bigger issues
related to building heights and residential development standards on a citywide level could also be pursued, but that such a review would be a secondary priority to drafting bulk plane regulations, which could be crafted more quickly and were of higher priority.
On August 22, 2016, City Council approved an emergency ordinance (effective for 90 days) that
implemented a 45-degree bulk plane restriction, measured at a height of 15 feet above grade. These bulk plane regulations were applied in the R-1C zone district, which predominantly is located on the City’s east side, where residential lots are generally smaller and more narrow.
Residential Bulk Plane
October 15, 2018
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At the October 3, 2016 City Council study session, residential bulk plane regulations were again
discussed with City Council, with the intent of drafting permanent bulk plane standards to
replace the temporary ordinance. At that time, staff recommended applying the bulk plane ordinance to all residentially zoned property in the City. The rationale for that recommendation was that on larger lots (generally on the western side of town), it would have less of an impact on property rights and the developability of properties; however, on lots where there might be a
non-conforming structure, located in close proximity to a property line, it would restrict the
ability to add a multi-story addition, which might otherwise have a negative impact on an adjacent property. City Council’s direction at that time was to pursue an ordinance that would only be applicable on
R-1C and R-3 zoned properties with single-family homes. These properties are predominantly
located on the City’s east side. Residential bulk plane was discussed a second time on October 17, 2016, for staff to receive further direction on some of the details of the draft regulations, such as the ability to apply for
variances and the applicability of the regulations on sloped lots.
Planning Commission conducted a public hearing on October 20, 2016. City Council held a first reading on an ordinance on October 24, where it failed by a vote of 3-4. Subsequently, a special City Council meeting was called for on November 21, 2016, where an emergency ordinance was
approved by a vote of 7-1.
Throughout the various study sessions and public hearings noted above, numerous members of the public spoke on the topic of residential bulk plane as well as the related topic of residential building heights. Some citizens argued for stricter bulk plane standards as well as consideration
of further limitations on residential building heights. Ultimately, City Council decided not to take
any action further restricting residential building heights, which would be a more restrictive approach than the adoption of bulk plane standards. Bulk plane restrictions also place greater limits on building heights but only on a portion of the perimeter of a residential lot.
At the October 23, 2017 City Council meeting, Council directed that City Staff create a web-
based survey tool on the topic of residential bulk plane and building heights. City Council members provided draft questions and staff refined and augmented those questions into a Survey Monkey tool available through the City's web site. Notice of the survey was provided via the City’s Facebook page, the City’s website and City Council was notified of the survey and
provided a web-link to be able to notify constituents.
Staff presented and City Council discussed the results of that survey at a November 17, 2017
study session. Generally, those results (albeit a non-scientific survey) can be summarized as follows:
• 286 people started the survey, and of those 233 fully completed the survey
• 64% of respondents supported or strongly supported implementing some form of bulk
plane regulation
• 53% of respondents supported applying bulk plane throughout the City for one and two-
Residential Bulk Plane
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family dwellings (33% did not)
• Regarding residential building height, 50% did not support any reduction in maximum height (33% supported or strongly supported a reduction in maximum height)
• 84% did not support a prohibition against 2-story homes
• 42% supported a prohibition of 3-story homes (38% opposed and 20% responded “maybe”)
• Demographically, the largest percentage of respondents were from Council District I and the least amount from District IV
• The median age of respondents was approximately 52
• The median tenure of residency in Wheat Ridge was approximately 15 years After discussion, Council’s consensus was to place questions regarding residential building
height and bulk plane in the 2018 Resident Survey. The Resident Survey, which is a statistically valid survey conducted by the National Research Center, asked several questions regarding residential building heights and residential bulk plane. Generally, those results can be summarized as follows:
• In regard to residential bulk plane, 50% supported the concept generally (13% opposed and 37% were neutral or not sure)
• 53% supported expanding the applicability of residential bulk plane to other parts of the
City (16% opposed and 43% were neutral or not sure)
• Regarding building height, 54% were not in favor of further limiting residential building height for “new infill development in established neighborhoods” (23% supported further limitations and 23% were not sure)
As one further point of reference, in August 2018, staff updated research of surrounding jurisdictions in regard to building height and bulk plane. Those results are summarized below:
• Wheat Ridge is generally in line with surrounding municipalities in regard to maximum building height – Lakewood and Arvada, like Wheat Ridge are at 35 feet; Denver and
Mountain Views are at 30 feet and Edgewater in the past several years reduced their maximum from 35 feet to 25/28 feet
• Wheat Ridge is somewhat unique in that the City measures height to mid-point on a peaked roof, while the norm is to measure to the peak of the roof
• Wheat Ridge, Denver and Edgewater are the only surrounding jurisdictions that utilize the bulk plane tool; however, Lakewood is considering it
• No jurisdictions are actively amending their code in regards to bulk plane; though, as noted, Lakewood, Arvada and Denver are all in the preliminary stages of discussing
possible code amendments REQUEST FOR COUNCIL DIRECTION: It is certainly an option to apply the concept of residential bulk plane on a broader basis throughout the City or in certain zone districts beyond R-1C. For larger single-family and duplex
lots, bulk plane would generally have less of an impact on the extent of the developability of said
lots. As discussed previously, the one exception to that statement would be for larger lots that
Residential Bulk Plane
October 15, 2018
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might have a non-conforming structure located relatively close to a property line, applying the
bulk plane may restrict the ability to add a multi-story addition, which might otherwise have a
negative impact on an adjacent property. Staff requests City Council direction whether to apply the City’s residential bulk plane regulations as contained in Code section 26-642 more broadly in the City, and if so under which
of the following options:
• Apply 26-642 to all SF homes and duplexes throughout the City, regardless of zoning
• Apply 26-642 to an expanded list of (but not all) residential zone districts
• Apply 26-642 to certain geographic boundaries of the City through a tool known as a zoning overlay
• 26-642, as currently adopted applies only to SF homes (R1-C does not allow duplexes). If
Council’s direction is to apply bulk plane more broadly, would Council want to include
applicability to duplexes? ATTACHMENTS: 1. Code section 26-642
2. Wheat Ridge Zoning Map
A.
1.
2.
3.
4.
a.
b.
c.
d.
e.
Sec. 26-642. - Bulk plane.
Bulk plane.In addition to the height and setback standards of article II, building
envelopes are regulated by a three-dimensional bulk plane for the purpose of
preserving neighborhood compatibility, privacy, and the adequate supply of light and
air.
Applicability.The bulk plane restrictions of this section shall apply to all
structures on a lot for which a building permit is applied for after the effective
date of Ordinance No. 1613, Series 2016. The entirety of any building envelope
shall be contained within the bulk plane, unless otherwise exempted by
subsection 4.
Measurement of bulk plane.The bulk plane is a plane that begins fifteen (15)
feet above every property line of a lot or parcel, which then slopes at a forty-five
(45) degree angle until it intersects the bulk plane from the opposite side of the
lot or parcel. See figure 26-642.2. Maximum building heights set forth in article II,
chapter 26 shall apply regardless of the height at which the two (2) opposite bulk
planes intersect above the lot or parcel.
Measurement of base plane.The base plane (see figure 26-642.1) shall be
measured from the existing average grade of a lot or parcel. Average grade shall
be calculated as the average of the elevations taken at the midpoints of each
property line. See figure 26-642.2.
Exceptions.Encroachments into the bulk plane shall be permitted as follows:
Chimneys.
[Railings.]Open-type railings compliant with adopted City Code.
Architectural features.Cornice, eaves, beltcourses, sills, canopies or other
similar architectural features, including bay window, may extend or project
into the bulk plane not more than thirty (30) inches.
Mechanical equipment.Vent pipes, solar panels, swamp coolers.
[Dormers.]Dormers measuring no more than eight (8) feet wide; six (6) feet
tall, as measured from the lowest point of intersection between the roof
and the dormer to the highest point of a flat roof or mean height level
between eaves and ridge for a gable, hip, gambrel or other roof; and,
occupying no more than fifty (50) percent of the roof.
Page 1 of 2Wheat Ridge, CO Code of Ordinances
ATTACHMENT 1
Figure 26-642.1. Section view of bulk plane building envelope, as measured from all property
lines.
Figure 26-642.2. Average Grade Calculation.
(Ord. No. 1613 , §§ 6—8, 11-21-16)
Page 2 of 2Wheat Ridge, CO Code of Ordinances
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Memorandum
TO: Mayor and City Council THROUGH: Patrick Goff, City Manager
FROM: Joyce Manwaring, Parks and Recreation Director DATE: October 15, 2018 SUBJECT: Disposal of Park Property
ISSUE: The City has the opportunity to sell the vacant parcel of park property located on the southwest
corner of 38th Avenue and Johnson Street. This parcel was not originally developed as part of Discovery Park due to: 1. Maximizing efficient use of site to meet the goals of the Park Master Plan; and
2. The site’s proximity to the Appleridge Café, currently located on the southeast corner of
38th Avenue and Kipling Street. (Aerial photo attached- Parcel labeled C2) The City Charter requires a unanimous vote of city council to dispose of park property. The Wheat Ridge Charter addresses the disposal of park land in Section 16.5.
“The city shall not sell or dispose of municipally owned buildings or real property for a public purpose, without first obtaining the approval, by ordinance, of three-fourths of the entire council. Unanimous approval of the entire council, by ordinance, shall be necessary for sale or disposition of designated park land.”
PRIOR ACTION: At the May 10, 2018 study session, this item was presented. City Council reached a consensus to continue to move forward on the disposal of the park property.
On May 10, 2010 City Council approved the sale of a portion of park property to the south of the
Appleridge Café to address the issues with café site parking needs. At that time the following information was provided to Council as part of the Park Master Plan adoption action. “The park master plan was designed to achieve a win-win situation with the existing restaurant business located on the corner. The plan identifies the northeast corner of the parkland as an area
for future development. The restaurant property owner at this time does not wish to purchase the
entire .85 acres. A lot will be platted for future sale when, and if, the restaurant property re-develops. This park parcel will remain vacant in the future to allow for future development, sale and or lot consolidation with the restaurant property.”
Study Session Memo – Disposal of Park Property
October 15, 2018
Page 2
City Council approved a resolution to obtain an appraisal on the applicable portion of park property adjacent to the Appleridge Café on August 28, 2008. City Council approved the
transfer of the reverter clause from this park parcel to the Baugh House property on September
28, 2009 as one of the required steps to allow for the future disposal of the park property. BACKGROUND: The Master Plan for the park was developed with the consideration that the corner parcel, when
combined with the Appleridge Restaurant site provided opportunity for future commercial
development. This action was viewed as a compromise in the community due to the commercial potential of the Kipling location of the park parcel. Construction of the park was completed in 2010. The park meets the needs of the community
through the amenities and facilities in the park. These include a skate park, a variety of play
structures, a splash pad, picnic shelters, walking trails and athletic practice fields. There is adequate parking to support these activities. This portion of the site is not required to meet future park development.
FINANCIAL IMPACT:
An appraisal was completed on the property in March 2017 and has been updated. In March of 2017 the City and developer agreed on the 2017 appraised price as a basis for moving forward with the development of the property.
The parcel is .5 acres in size and the appraised price was $600,000 in 2017. The updated
appraisal information documents the value of the property at $650,000. The land that is now Discovery Park, including this parcel was purchased with the City’s attributable share of Open Space Funds and Jefferson County Bond Funds. Jefferson County Open Space does not have a financial interest in the property due to the removal of the reverter clause encumbrance on this
portion of the park property. The original purchase price for the entire 8 acre site that is now
Discovery Park, including the undeveloped area under discussion for sale, was $1,245,500. All proceeds from the sale of the property are required to be placed in the Open Space Fund 32 for park and recreation purposes due to the fact that open space funds were used to originally
purchase the property. The funds from the sale of this park property would be used for
construction of Phase II of Prospect Park Renovation. Phase I has been completed, Phase II is on hold due to the additional funding required for the Anderson Park Renovation that was originally slated for Phase II of the Prospect Park Renovation.
ATTACHMENTS:
1. Parcel Map 2. Ordinance cc: Gerald Dahl, City Attorney
ATTACHMENT 1
CITY OF WHEAT RIDGE, COLORADO INTRODUCED BY COUNCIL MEMBER ___________
Council Bill No. _______ Ordinance No. _________ Series 2018 TITLE: AN ORDINANCE APPROVING THE SALE OF DESIGNATED
PARK LAND NEAR THE INTERSECTION OF WEST 38TH AVENUE AND JOHNSON STREET AND, IN CONNECTION THEREWITH, APPROVING AN AGREEMENT WHEREAS, the City of Wheat Ridge, Colorado (“City”) owns certain real property
within the City near the intersection of West 38th Avenue and Johnson Street that is
designated as park land; and WHEREAS, a portion of said park land is adjacent to private property owned by, CVS Health Realty upon which a café business is currently located; and
WHEREAS, in 2008, the City approved a master park plan for said park property that included information regarding the reservation of this property for future consolidation with the adjacent private property; and
WHEREAS, in furtherance of both of these goals, the City and CVS Health
Realty have negotiated an agreement under which the City sales the property to CVS Health Realty for the purpose of commercial development; and WHEREAS, the property the City proposes to convey to CVS Health Realty is
designated park land; and
WHEREAS, pursuant to the Wheat Ridge City Charter Section 16.5, the unanimous approval of the entire City Council, by ordinance, is necessary to sell or dispose of designated park land; and
WHEREAS, the City Council finds and determines that the sale of a portion of the park land located at West 38th Avenue and Johnson Street, under those terms and conditions set forth in the agreement concerning the same, does not impact the use or needs of the adjacent park; and
WHEREAS, the City Council therefore desires to approve the sale of said park property and, in connection therewith, to approve an agreement concerning the same. NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WHEAT RIDGE, COLORADO:
Section 1. Sale of Park Property Approved. Pursuant to Charter Section 16.5, the City Council hereby approves the sale of certain City-owned property
ATTACHMENT 2
designated as park land, more particularly described in Exhibit 1, attached hereto and incorporated herein by this reference.
Section 2. Agreement Approved. In connection with the sale of park land approved by Section 1 above, the City Council hereby approves the Agreement Concerning the Conveyance, The Mayor and City Clerk are hereby authorized and directed to execute the Agreement.
Section 3. Condition of Approval of Sale of Property. The sale of property approved by Section 1 above is expressly contingent upon the satisfaction of the condition precedent set forth in Section II.A. of the Agreement: subdivision of the property subject to sale in accordance with the Wheat Ridge Code of Laws.
Should this condition precedent fail to occur, the approval set forth in Section 1
above shall never become effective. Section 4. Severability, Conflicting Ordinances Repealed. If any section, subsection or clause of this Ordinance shall be deemed to be unconstitutional or
otherwise invalid, the validity of the remaining sections, subsections and clauses
shall not be affected thereby. All other ordinances or parts of ordinances in conflict with the provisions of this Ordinance are hereby repealed. Section 5. Effective Date. This Ordinance shall take effect fifteen (15) days
after final publication, as provided by Section 5.11 of the Charter.
INTRODUCED, READ, AND ADOPTED on first reading by the unanimous approval of the entire membership of the City Council this ____ day of ____________, 2018, ordered published in full in a newspaper of general circulation in the City of Wheat
Ridge, and Public Hearing and consideration on final passage set for
____________________, 2018 at 7:00 p.m., in the Council Chambers, 7500 West 29th Avenue, Wheat Ridge, Colorado. READ, ADOPTED AND ORDERED PUBLISHED on second and final reading by
the unanimous approval of the entire membership of the City Council this _____ day of
______________, 2018. SIGNED by the Mayor on this _____ day of ____________, 2018.
_________________________ William “Bud” Starker, Mayor ATTEST:
_________________________ Janelle Shaver, City Clerk
Approved as to Form
_________________________ Gerald E. Dahl, City Attorney
First Publication: Second Publication: Wheat Ridge Transcript Effective Date:
EXHIBIT 1
THE CITY PARCEL
LEGAL DESCRIPTION: THE POINT OF COMMENCEMENT IS THE NW CORNER OF SECTION 27, T3S, R69W, 6TH PM;
Thence N89°39'35"E on and along the North line of said section 27, a distance of 199.00 feet; Thence S00°12'38"E parallel with the West line of said section 27, a distance of 35.00 feet; to the South ROW line of W. 38th Ave. and the TRUE POINT OF BEGINNING;
Thence continuing southerly parallel with the West line of said section 27, a distance of 214.63 feet Thence S89°39'35"W parallel with the North line of said section 27, a distance of 124.00
feet; Thence N00°12'38"W parallel with the West line of said section 27, a distance of 70.00 feet;
Thence N89°39'35"E parallel with the North line of said section 27, a distance of 105.00 feet; Thence N00°12'38"W parallel with the West line of said section 27, a distance of 144.92 feet to the South ROW line of W. 38th Ave.;
Thence S89°29'38"E on and along the South ROW line of W. 38th Ave., a distance of 19.00 feet; to the TRUE POINT OF BEGINNING.
Containing 11,430.78 square feet or 0.2624 acres, more or less. NOTE: All bearings are relative to one another and are based on the bearing of the NORTH line of the NW 1/4 of said Section 27 being N 89°39'35" E. Bearings shown hereon are based on the CURRENT CITY DATUM, a Ground-Based modified form of the NAD83/92 State Plane Coordinate System.
EXHIBIT 2
AGREEMENT CONCERNING THE CONVEYANCE, IMPROVEMENT AND DEVELOPMENT OF PROPERTIES ADJACENT TO W. 38TH AVENUE AND KIPLING STREET This Agreement concerning the conveyance, improvement and development of properties adjacent to West 38th Avenue and Kipling Street (the “Agreement”) is made and entered into as of the ___ day of _______________ , 2010, by and between the
City of Wheat Ridge, a Colorado home rule municipal corporation, whose address is 7500 W. 29th Avenue, Wheat Ridge, Colorado 80033 (the “City”) and John Athanasopoulos, an individual whose address is 22 Morningside Drive, Wheat Ridge, Colorado 80215 (the “Owner”), collectively hereinafter the “Parties.”
WHEREAS, the Owner owns certain real property abutting the east side of Kipling Street, immediately south of the intersection of Kipling Street and W. 38th Avenue, more particularly described on Exhibit A (the “Kipling Parcel”); and WHEREAS, the Owner also owns certain real property adjacent to the Kipling
Parcel, more particularly described on Exhibit B, upon which the business known as the Apple Ridge Café is located (the “Café Property”); and WHEREAS, the City owns a parcel of real property located to the southeast of the Café Property, which has been used with the City’s consent for Café Property
parking and trash storage and is more particularly described in Exhibit C (the “City Parcel”); and WHEREAS, the Owner wishes to convey the Kipling Parcel to the City in exchange for certain improvements which the City agrees to make to the City Parcel
and the Café Property to better the Owner’s use of the Café Property and the City Parcel for parking, storage, and other uses incidental to the primary use of the Café Property; and WHEREAS, the City desires to sell, and Owner desires to purchase, the City
Parcel , which is more particularly described in Exhibit C; and WHEREAS, the Parties therefore wish to convey certain interests in their respective properties to each other with those reservations and upon those terms and conditions as more specifically set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants, promises and consideration set forth herein, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: I. THE KIPLING PARCEL
A. The Parties recognize that all parcels proposed to be conveyed pursuant to this Agreement must first be properly subdivided in accordance with the laws of the City of
Wheat Ridge. The parties agree to cooperatively pursue such subdivision. Within
thirty (30) days of the date a final plat containing the Kipling Parcel is recorded in the office of the Jefferson County Clerk and Recorder, pursuant to Section 26-407.B.6. of the Wheat Ridge Code of Laws, as existing or hereafter amended, the City shall commence the Purchase Process, as defined and further described by Article V of this
Agreement, for the Kipling Parcel. If the Kipling Parcel is conveyed to the City, it shall
be conveyed by a deed in substantially the same form as attached hereto as Exhibit D. B. As sole consideration of Owner’s conveyance of the Kipling Parcel, the City shall make certain improvements to the City Parcel and the Café Property in furtherance of
Owner’s use of the Café Property as a restaurant, such as parking and signage. The
City’s improvements to the City Parcel shall include the grading and paving of parking surface areas and the relocation of the existing free-standing Apple Ridge Café sign, as illustrated on Exhibit F to this Agreement (the “Improvements”). The cost of the Improvements shall not exceed ONE HUNDRED THREE THOUSAND DOLLARS
($103,000.00). The Parties agree that the City shall have no obligation to commence or
complete any of the Improvements if and when the City’s cumulative expenditures toward the Improvements total the maximum amount provided above. C. The City’s obligation to construct the Improvements is contingent upon transfer of
title to the Kipling Parcel to the City at Closing. The City shall commence construction
of the Improvements within 240 business days of a successful Closing. II. THE CITY PARCEL
A. The Parties recognize that all parcels proposed to be conveyed pursuant to this
Agreement must first be properly subdivided in accordance with the laws of the City of Wheat Ridge. The parties agree to cooperatively pursue such subdivision. Within thirty (30) days of the date a final plat containing the City Parcel is recorded in the office of the Jefferson County Clerk and Recorder, pursuant to Section 26-407.B.6. of the
Wheat Ridge Code of Laws, as existing or hereafter amended, Owner shall commence
the Purchase Process, as defined and further described by Article V of this Agreement, for the City Parcel . If the City Parcel is conveyed to the Owner, it shall be conveyed by a deed in substantially the same form as attached hereto as Exhibit G.
B. As sole consideration for the estate conveyed by the deed described in Section
II.A., Owner shall pay the City the sum of ONE HUNDRED TEN THOUSAND ONE HUNDRED NINETY-SEVEN AND 60/100 DOLLARS ($110,197.60). Owner’s obligation to pay this amount is contingent upon transfer of title to the City Parcel to Owner at Closing.
ARTICLES III AND IV INTENTIONALLY OMITTED V. PURCHASE PROCESS
A. This Article shall govern the purchase process for any parcel conveyed pursuant
to this Agreement (the “Subject Property”), which process shall be known as the
“Purchase Process” for each such individual parcel. B. The Party responsible for commencing the Purchase Process (the buying Party) shall do so by providing written notice of its intent to commence the Purchase Process
to the selling Party as of a date certain, no earlier than the date of such notice.
C. On or before ten (10) days following commencement of the Purchase Process, the selling Party shall cause to be furnished to the buying Party, at the selling Party’s expense, a current commitment for owner’s title insurance policy (Title Commitment) in
an amount equal to the purchase price of the Subject Property. At the selling Party’s
expense, the selling Party shall cause the title insurance policy to be issued and delivered to the buying Party as soon as practicable at or after Closing if Closing occurs pursuant to subsection N below. The Title Commitment shall commit to delete or insure over the standard exceptions which relate to:
1. Parties in possession not shown by public records, including the Form 100 endorsement for the same; 2. Unrecorded easements; 3. Survey matters;
4. Any unrecorded mechanic’s liens;
5. Gap period (effective date of commitment to date deed is recorded); and 6. Unpaid taxes, assessments and unredeemed tax sales prior to the year of Closing.
Any additional premium expense to obtain this additional coverage shall be paid by the
selling Party. D. On or before ten (10) days following commencement of the Purchase Process, the selling Party shall cause the buying Party (and the issuer of the title insurance
commitment) to receive a current survey of the Subject Property (the “Survey”).
E. On or before ten (10) days following commencement of the Purchase Process, the selling Party, at its own expense, shall furnish to the buying Party: (1) a copy of any plats, declarations, covenants, conditions and restrictions burdening the Subject
Property, and (2) copies of any other documents listed in the Title Commitment
schedule of exceptions. The Title Commitment, together with any documents identified in this subsection as well as the Survey, constitute the Title Documents. F. The buying Party shall have the right to inspect the Title Documents. Written
notice by the buying Party of un-merchantability of title, form or content of the Title
Documents or of any unsatisfactory title condition shown by the Title Documents shall be signed by or on behalf of the buying Party and delivered to the selling Party on or before ten (10) days following receipt by the buying Party of the Title Documents or
within five (5) days after receipt by the buying Party of any change to the Title Documents or endorsement to the Title Commitment (whichever is later), together with
a copy of the document adding any new exception to title. If the selling Party does not
receive the buying Party’s notice by ten (10) days following the buying Party’s receipt of the last to be received of the Title Documents, the buying Party accepts the condition of title as disclosed by the Title Documents as satisfactory.
G. The selling Party shall deliver to the buying Party, on or before ten (10) days
following commencement of the Purchase Process, true copies of any matters not shown by public records and of which the selling Party is in possession, including but not limited to, all leases and surveys pertaining to the Subject Property and shall disclose to the buying Party all easements, liens, or other title matters not shown by
public records of which the selling Party is aware. The buying Party shall have the right
to inspect the Subject Property to investigate if any third party has any right in the Subject Property not shown by the public records (such as unrecorded easement, unrecorded lease, or boundary line discrepancy). Written notice of objection to any unsatisfactory condition disclosed by the selling Party or revealed by such inspection
shall be given to the selling Party on or before ten (10) days following receipt by the
buying Party of the selling Party’s disclosure or completion by the buying Party of the inspection contemplated above. If the selling Party does not receive any such notice by said date, the buying Party accepts title subject to such rights, if any, of third parties of which the buying Party has actual knowledge.
H. The buying Party shall have the right to inspect the Survey. If written notice by or on behalf of the buying Party of any unsatisfactory condition shown by the Survey, notwithstanding subsection F. above, is received by the selling Party on or before ten (10) days following receipt by the buying Party of the Survey, then such objection shall
be deemed an unsatisfactory title condition. If the selling Party does not receive the
buying Party’s notice on or before ten (10) days following receipt by the buying Party of the Survey, the buying Party accepts the Survey as satisfactory. I. On or before ten (10) days following commencement of the Purchase Process,
the selling Party agrees to deliver to the buying Party the most current version of the
selling Party’s Property Disclosure form completed to the best of the selling Party’s actual knowledge, current as of that date. J. On or before ten (10) days following commencement of the Purchase Process,
the selling Party shall initiate at its cost a Phase I environmental assessment of the
Subject Property and shall deliver the same to the buying Party as soon thereafter as is reasonably practicable. The buying Party shall also have the right to inspect the Subject Property. If the condition of the Subject Property as documented by the assessment is unsatisfactory in the buying Party’s subjective discretion, the buying
Party shall on or before ten (10) days following receipt by the buying Party of the Phase
I environmental assessment of the Subject Property, deliver to the selling Party a written description of any unsatisfactory physical condition which the buying Party requires the selling Party to correct (Notice to Correct). If written notice is not received by the selling
Party on or before ten (10) days following receipt by the buying Party of the Phase I environmental assessment of the Subject Property, the physical condition of the Subject
Property shall be deemed to be satisfactory to the buying Party. If a Notice to Correct is
received by the selling Party and if both Parties have not agreed in writing to a settlement thereof on or before ten (10) days following receipt by the selling Party of the buying Party’s Notice to Correct, this Agreement shall terminate unless before such termination the selling Party receives the buying Party’s written withdrawal of Notice to
Correct. This paragraph shall not apply to the City Parcel because a Phase I
environmental assessment has been performed on these properties and is currently available to all interested parties. K. Other than the environmental assessment required by subsection J above, the
buying Party is responsible for payment of all inspection, tests, surveys, engineering
reports, or for any other work performed at the buying Party’s request and shall pay for any damage which occurs to the Subject Property and inclusions as a result of such activities. The buying Party shall not permit claims or liens of any kind against the Subject Property for inspections, tests, surveys, engineering reports or any other work
performed on the Subject Property at the buying Party’s request. Within the limitations
imposed by the Colorado Constitution and Revised Statutes, the buying Party agrees to indemnify, protect and hold the selling Party harmless from and against any liability, damage, cost or expenses incurred by the selling Party to enforce this subsection, including the selling Party’s reasonable attorney fees. The provisions of this subsection
shall survive the termination of this Agreement.
L. The buying Party’s right to object shall include those matters listed in subsections C, D, E, G, I and J. If the selling Party receives notice of un-merchantability of title or any other unsatisfactory title condition or commitment terms as provided above, the
selling Party shall use reasonable efforts to correct said items and bear any nominal
expense to correct the same within ten (10) days of receiving notice thereof. If such unsatisfactory title condition is not corrected to the buying Party’s satisfaction or waived by the buying Party within said ten (10) period, this Agreement shall terminate and the buying Party shall have no obligation to purchase the Subject Property nor shall the
buying Party be compelled to purchase the same pursuant to Section VI.A.
M. All amounts paid by the buying Party at Closing, including cash at Closing, plus the buying Party’s share of the closing costs, shall be in funds which comply with all applicable Colorado laws, which include cash, electronic funds, certified check, savings
and loan tellers check and cashiers check (Good Funds).
N. Delivery of the deed for the Subject Property, in the form required by this Agreement, shall be at Closing. Closing shall be fifteen (15) days after the expiration of all notice and cure periods contemplated by this Agreement (the Closing Date), or by
mutual agreement at an earlier or later date. The hour and place of Closing shall be
designated by mutual agreement.
O. Subject to payment of the purchase price at Closing as required herein, and compliance by the buying Party with the other terms and provisions hereof, the selling
Party shall execute and deliver a deed to the buying Party, in the form required by this
Agreement for the particular parcel. Except as provided herein, title shall be conveyed free and clear of all liens, including any governmental liens for special improvements installed as of the date of Closing, whether assessed or not. Title shall be conveyed subject to:
1. Those exceptions described by reference to recorded documents as reflected in the Title Documents accepted by the buying Party in accordance with subsection F. above; 2. Distribution utility easements; and
3. Those specifically described rights of third parties not shown by the public
records of which the buying Party has actual knowledge and which were accepted by the buying Party in accordance with subsection G above, those exceptions disclosed by the Survey and which were accepted by the buying Party in accordance with subsection H, and those physical
conditions accepted by the buying Party in accordance with subsection J.
P. Any encumbrance required to be paid shall be paid by the selling Party at or before Closing. All encumbrances, of whatever kind or nature, created or imposed upon the Subject Property during the period of the selling Party’s ownership of the same shall
be paid or removed by the selling Party, as appropriate, and compliance with this
requirement is a condition to the buying Party’s obligation to close and purchase the Subject Property. Q. The Parties shall pay in Good Funds, their respective Closing costs and all other
items required to be paid at Closing, except as otherwise provided herein. The Parties
shall sign and complete all customary or reasonably required documents at or before Closing. Fees for real estate closing services shall be paid at Closing as one-half by the buying Party and one-half by the selling Party.
R. The following shall be prorated to the Closing Date except as otherwise provided:
1. Personal property taxes, if any, and general real estate taxes for the year of Closing, based on the most recent mill levy and most recent assessment.
2. Any rents due for the month of Closing. Security deposits held by the
selling Party shall be credited to the buying Party. 3. Any charges for utilities provided for the month of Closing. 4. Unless otherwise agreed in writing, these prorations shall be final.
S. Possession of the Subject Property shall be delivered to the buying Party on the
Closing Date. If the selling Party fails to deliver possession as specified, the selling Party shall be subject to eviction and shall be additionally liable to the selling Party for
payment of $1500 per day (or any part of a day) from the Closing Date until possession is delivered.
T. The selling Party represents and agrees that (1) as of the execution hereof, there are no other contract purchasers of the Subject Property or holders of rights of refusal to buy the Subject Property, holding or having such rights by or through the selling Party, and (2) on and after its execution hereof, the selling Party shall not enter into any
contract with any other party for purchase of the Subject Property, or granting any
option or right of refusal to buy the subject property, from the date of this Agreement continuously until and while the Purchase Process for the Subject Property is in effect or until the option period expires for those parcels described in Articles III and IV of this Agreement. The Parties intend that this Agreement is exclusive with respect to the
buying Party’s right to purchase the Subject Properties described herein.
U. For purposes of this Article V, any item required to be provided to a party shall be delivered to such party at the address designated by Section VI.F. below, and shall be deemed received by the party on either: (a) the date of personal delivery of the item, or
(b) the 3rd day after the item is deposited in the United States Mail, first class, postage
pre-paid, excluding legal holidays and Sundays. VI. MISCELLANEOUS PROVISIONS
A. Breach; Remedies. The failure of either Party to perform any act required under
this Agreement, including but not limited to the conveyance of property pursuant to the valid exercise of an option granted hereunder, shall constitute a breach of this Agreement. A non-breaching Party agrees to give written notice of such breach to the other Party, together with notice that the breaching Party may cure the same within ten
(10) days of the date of the notice, to prevent further enforcement action by the non-
breaching Party. Each Party agrees to act in good faith to remedy any asserted breach within the ten (10) day cure period. In the event that any breach is not remedied after written notice and the expiration of the cure period, the non-breaching Party shall have the right of specific performance against the breaching Party. In no event shall any
Party be entitled to claim or recover damages in any form, including actual, punitive,
exemplary, consequential or economic, including lost profits. B. 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 for Jefferson County, Colorado.
C. No Waiver. Delays in enforcement or the waiver of any one or more defaults or breaches of this Agreement by either Party shall not constitute a waiver of any of the other terms or obligation of this Agreement.
D. Integration. This Agreement and any attached exhibits constitute the entire
Agreement between Owner and the City, superseding all prior oral or written
communications.
E. Third Parties. There are no third-party beneficiaries to this Agreement.
F. 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 as follows:
To the City: ATTN: ___________________________ City of Wheat Ridge 7500 W. 29th Avenue
Wheat Ridge, Colorado 80033
To the Owner: John Athanasopoulos 22 Morningside Drive
Wheat Ridge, Colorado 80215
G. Binding Effect. This Agreement shall be a covenant running with each of the properties identified herein, shall be recorded in the office of the Jefferson County Clerk and Recorder and shall be binding upon and inure to the benefit of the Parties hereto
and their respective personal representatives, heirs, successors and assigns.
H. 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.
I. Modification. This Agreement may only be modified upon written agreement of
the parties.
J. Assignment. Neither this Agreement nor any of the rights or obligations of the parties hereto, shall be assigned by either party without the written consent of the other.
IN WITNESS WHEREOF, the City and the Owner have executed this instrument the day and year first above appearing.
CITY OF WHEAT RIDGE, COLORADO
Jerry DiTullio, Mayor
ATTEST:
Michael Snow, City Clerk
OWNER
John Athanasopoulos
STATE OF COLORADO ) ) ss. County of _______________ )
The foregoing instrument was acknowledged before me this ____ day of ___________, 2010, by John Athanasopoulos.
Witness my hand and official seal.
My Commission expires: ____________________________
Notary Public
EXHIBIT A
Kipling Parcel LEGAL DESCRIPTION
A Parcel of land in the NW ¼ of Section 27, T3S, R69W of the 6th PM, described as: Commencing at the NW corner of Section 27, T3S, R69W of the 6th PM:
Thence S.00°12'38"E. on and along the West line of said section a distance of 179.92
feet; thence N.89°39'35"E. a distance of 40.00 feet to a point lying on the east Right-of-Way line of Kipling Street, the south Right-of-Way line of W. 38th Ave., the southwesterly corner of the Parcel of land described at Reception Number 85033477, as recorded in the official records of the County of Jefferson, State of Colorado, and being the TRUE
POINT OF BEGINNING;
Thence on a bearing of N.00°12'38"W. on and along the east Right-of-Way line of Kipling Street and parallel to the west line of the NW ¼ of Section 27, a distance of 119.92 feet to the south Right-of-Way line of W. 38th Ave.;
Thence N.89°39'35"E, on and along said south Right-of-Way line and parallel to the
north line of the NW ¼ of said Section 27, a distance of 10.00 feet; Thence N.38°23'57"E., on and along said south Right-of-Way line a distance of 32.05 feet; Thence N.89°39'35"E., on and along said south Right-of-Way line and parallel to the
north line of the NW ¼ of said Section 27, a distance of 5.00 feet;
Thence S.00°12'38"E., a distance of 144.92 feet; Thence N.89°39'35"E., on and along the southerly property line of said Parcel described at Reception #85033477, a distance of 35.00 feet to the TRUE POINT OF BEGINNING.
Said Parcel contains 4,572 square feet or 0.1050 acres, more or less. Basis of Bearings: All bearings are relative to one another and are based on the bearing of the west line of
the NW ¼, Section 27, being S.00°12'38"E. The bearings shown hereon are based on the CURRENT CITY DATUM, a ground-based modified form of the NAD83/92 State Plane Coordinate System, Central Zone 0502.
EXHIBIT B CAFÉ PARCEL LEGAL DESCRIPTION
THE POINT OF COMMENCEMENT IS THE NW CORNER OF SECTION 27, T3S, R69W, 6TH PM;
Thence N89°39'35"E on and along the North line of said Section 27, a distance of 180.00 feet; Thence S00°12'38"E parallel with the West line of said section 27, a distance of 35.00 feet; to the South ROW line of W. 38th Ave. and the TRUE POINT OF BEGINNING;
Thence continuing S00°12'38"E and parallel with the West line of said section 27, a distance of 144.92 feet
Thence S89°39'35"W parallel with the North line of said section 27, a distance of 105.00
feet ; Thence N00°12'38"W parallel with the West line of said section 27, a distance of 144.92 feet to the South ROW line of W. 38th Ave.;
Thence N89°39'35"E on and along the South ROW line of W. 38th Ave. parallel with the North line of said section 27, a distance of 105.00 feet; to the TRUE POINT OF BEGINNING.
Containing 15,216.56 square feet or 0.3493 acres, more or less. NOTE:
All bearings are relative to one another and are based on the bearing of the
NORTH line of the NW 1/4 of said Section 27 being N 89°39'35" E. Bearings shown hereon are based on the CURRENT CITY DATUM, a Ground-Based modified form of the NAD83/92 State Plane Coordinate System.
EXHIBIT C The City Parcel LEGAL DESCRIPTION
THE POINT OF COMMENCEMENT IS THE NW CORNER OF SECTION 27, T3S, R69W, 6TH PM; Thence N89°39'35"E on and along the North line of said section 27, a distance of
199.00 feet; Thence S00°12'38"E parallel with the West line of said section 27, a distance of 35.00 feet; to the South ROW line of W. 38th Ave. and the TRUE POINT OF BEGINNING;
Thence continuing southerly parallel with the West line of said section 27, a distance of 214.63 feet Thence S89°39'35"W parallel with the North line of said section 27, a distance of 124.00
feet;
Thence N00°12'38"W parallel with the West line of said section 27, a distance of 70.00 feet;
Thence N89°39'35"E parallel with the North line of said section 27, a distance of 105.00
feet; Thence N00°12'38"W parallel with the West line of said section 27, a distance of 144.92 feet to the South ROW line of W. 38th Ave.;
Thence S89°29'38"E on and along the South ROW line of W. 38th Ave., a distance of 19.00 feet; to the TRUE POINT OF BEGINNING. Containing 11,430.78 square feet or 0.2624 acres, more or less.
NOTE: All bearings are relative to one another and are based on the bearing of the
NORTH line of the NW 1/4 of said Section 27 being N 89°39'35" E. Bearings shown hereon are based on the CURRENT CITY DATUM, a Ground-Based modified form of the NAD83/92 State Plane Coordinate System.
EXHIBIT D GENERAL WARRANTY DEED [KIPLING PARCEL]
THIS DEED is made this ___ day of ________________, 2010, between JOHN ATHANASOPOULOS ("Grantor”) and THE CITY OF WHEAT RIDGE, COLORADO, a Colorado home rule municipal corporation ("Grantee"). Collectively, Grantor and Grantee may be referred to as the “Parties.”
WITNESSETH, that Grantor for and in consideration of Ten Dollars ($10.00) and
other good and valuable consideration, the delivery, receipt and sufficiency of which are hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm, unto Grantee, its successors and assigns forever, the real property, together with improvements, if any, situate in the County of Jefferson, State of Colorado, more particularly described on Exhibit A,
attached hereto and fully incorporated herein by this reference (the “Property”).
TOGETHER with all and singular the hereditaments and appurtenances thereto belonging, or in anywise appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all the estate, right, title, interest,
claim, and demand whatsoever of Grantor, either in law or equity, of, in and to the
Property with the hereditaments and appurtenances. TO HAVE AND TO HOLD the Property above bargained and described with the appurtenances, unto Grantees, their successors and assigns forever. Grantor, for itself
and its successors and assigns, does covenant, grant, bargain and agree to and with
the Grantee, its successors and assigns, that at the time of ensealing and delivery of these presents, it is well seized of the Property, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and authority to grant, bargain, sell and convey the same in manner and form as
aforesaid, and that the same are free and clear from all former and other grants,
bargains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature whatsoever, except for taxes for the current year, a lien but not yet due and payable; easements, restrictions, reservations, covenants, and rights-of-way of record, if any, shown on the title commitment dated ___________________ , 20___, or
on the survey dated _____________________ , 20___ , and accepted by Grantee as
permitted exceptions; and any lien or encumbrance created by action of Grantee. Grantor shall and will WARRANT AND FOREVER DEFEND the Property in the quiet and peaceable possession of the Grantee, its successors and assigns, against all
and every person or persons lawfully claiming the whole or any part thereof.
The singular number shall include the plural, and the plural the singular, and the use of any gender shall be applicable to all genders.
IN WITNESS WHEREOF, the Grantor has hereto executed this Deed as of the
day first above written.
GRANTOR:
John Athanasopoulos
STATE OF COLORADO )
) ss.
County of _______________ ) The foregoing instrument was acknowledged before me this ____ day of ___________, 20___, by John Athanasopoulos.
Witness my hand and official seal.
My Commission expires: ____________________________
Notary Public
EXHIBIT E
[INTENTIONALLY OMITTED]
EXHIBIT G
GENERAL WARRANTY DEED [THE CITY PARCEL ]
THIS DEED is made this ___ day of ________________, 2010, between THE
CITY OF WHEAT RIDGE, COLORADO, a Colorado home rule municipal corporation ("Grantor") and JOHN ATHANASOPOULOS ("Grantee”). Collectively, Grantor and Grantee may be referred to as the “Parties.”
WITNESSETH, that Grantor for and in consideration of ONE HUNDRED TEN
THOUSAND ONE HUNDRED NINETY-SEVEN AND 60/100 DOLLARS ($110,197.60)
and other good and valuable consideration, the delivery, receipt and sufficiency of which are hereby acknowledged, has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell, convey and confirm, unto Grantee, its successors and assigns forever, the real property, together with improvements, if any, situate in the
County of Jefferson, State of Colorado, more particularly described on Exhibit A,
attached hereto and fully incorporated herein by this reference (the “Property”).
TOGETHER with all and singular the hereditaments and appurtenances thereto belonging, or in anywise appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all the estate, right, title, interest,
claim, and demand whatsoever of Grantor, either in law or equity, of, in and to the
Property with the hereditaments and appurtenances. TO HAVE AND TO HOLD the Property above bargained and described with the appurtenances, unto Grantees, their successors and assigns forever. Grantor, for itself
and its successors and assigns, does covenant, grant, bargain and agree to and with
the Grantee, its successors and assigns, that at the time of ensealing and delivery of these presents, it is well seized of the Property, has good, sure, perfect, absolute and indefeasible estate of inheritance, in law, in fee simple, and has good right, full power and authority to grant, bargain, sell and convey the same in manner and form as
aforesaid, and that the same are free and clear from all former and other grants,
bargains, sales, liens, taxes, assessments, encumbrances and restrictions of whatever kind or nature whatsoever, except for taxes for the current year, a lien but not yet due and payable; easements, restrictions, reservations, covenants, and rights-of-way of record, if any, shown on the title commitment dated ___________________ , 20___, or
on the survey dated _____________________ , 20___ , and accepted by Grantee as
permitted exceptions; and any lien or encumbrance created by action of Grantee; Grantor shall and will WARRANT AND FOREVER DEFEND the Property in the quiet and peaceable possession of the Grantee, its successors and assigns, against all
and every person or persons lawfully claiming the whole or any part thereof.
The singular number shall include the plural, and the plural the singular, and the use of any gender shall be applicable to all genders.
IN WITNESS WHEREOF, the Grantor has hereto executed this Deed as of the day first above written.
GRANTOR
CITY OF WHEAT RIDGE, COLORADO
, Mayor ATTEST:
, City Clerk
STATE OF COLORADO )
) ss. County of JEFFERSON ) The foregoing instrument was acknowledged before me this ____ day of
___________, 20___, by ____________________ as Mayor of the City of Wheat Ridge
and by _______________________ as City Clerk of the City of Wheat Ridge.
Witness my hand and official seal.
My Commission expires: ____________________________
Notary Public
Memorandum
TO: Mayor and City Council
THROUGH: Patrick Goff, City Manager FROM: Steve Art, Economic Development Manager
DATE: October 10, 2018 SUBJECT: Sale of Excess Park Property for Development of CVS Pharmacy
ISSUE:
The City and Renewal Wheat Ridge (RWR) have been approached for the development of a CVS Pharmacy on the parcel at the southeast corner of Kipling Street and West 38th Avenue. The development would require CVS to acquire the Appleridge Café as well as the vacant parcel directly east of the café. The sale of the vacant parcel requires consent of 100% of the Council.
BACKGROUND: In early 2017, CVS, through their representative AJ Barbato, approached the City regarding the development of the above stated parcels for the development of a new CVS Pharmacy. Barbato stated that negotiations were underway with the owner of the Appleridge Café for acquisition
and potential relocation of the café. Appleridge was willing to have their site acquired as long as an adequate new site, within the same geographical area could be identified for relocation. In order for the development of the new pharmacy, the developer would also need to acquire the vacant parcel to the east of the café. This parcel is owned by the City of Wheat Ridge and under
the control of the Parks Division. The Parks Division has identified this parcel as a remnant piece of land with no desire to develop at any time. The City requested the developer initiate an appraisal for the land value and purchase price. The initial appraisal was completed on March 26, 2017 by Mac Taggart & Mosier, Inc. which created
a market value estimate for standalone secondary commercial premise at $400,000 and an assemblage to the full development of the CVS at $600,000. The developer agreed to pay the appraised amount. During this period, the developer was able to identify a parcel that was suitable for the
Appleridge café relocation. The developer went under contract to obtain the site located directly south of the Recreation Center on Kipling, just north of the lot currently under redevelopment for the Circle K convenience station. The developer entered into negotiations with the owner of the café for acquisition and relocation. The negotiations were completed in early summer 2018.
Because it had been over a year since the completion of the initial appraisal, the City requested a new appraisal based on current conditions. The second appraisal was conducted by the same
firm who identified the standalone value at $450,000 and the market value estimate for the
assemblage at $650,000. In the letter attached to this report, CVS has agreed to purchase the
vacant site at the most recent appraised value of $650,000. CVS anticipates requesting the use of tax increment financing (TIF) available through the Wheat Ridge Urban Renewal Authority (Authority). At this time, the amount of TIF is still being
developed through a pro forma which will be evaluated the Authority. If any portion of sales tax
will be utilized in the TIF, the Council will be asked to adopt a resolution approving a Cooperation Agreement with the Authority. CVS anticipates the construction of a building just over 13,000 square feet with a drive-thru
pharmacy. The new Appleridge café will be approximately 3,000 square feet.
TRAFFIC: A formal site plan has not been submitted by the developer, but it is anticipated they will seek:
• A right-in, right-out access point along Kipling Street (approved by CDOT)
• Full access onto Johnson Street
• A right-in, right out movement along West 38th Avenue.
The City requested of CVS to provide some anticipated traffic flows from the site. The attached letter is not a full traffic study, but only a study based on International Transportation Engineers (ITE) figures from the Trip Generation Manual. If the project moves forward, a full traffic study will be commissioned.
The attached letter from Kimley Horn provides trip generation estimates between the development of both pads for a CVS, compared to the development of both pads with the existing Appleridge Café at its existing site and a fast food establishment with a drive-thru on the vacant pad. The ITE data shows a combined Appleridge and fast food restaurant would general approximately 1,752 daily vehicle trips while a standalone CVS would create 1,432 trips, a
difference of 320 less trips. The distribution of the traffic was not analyzed. REQUEST The vacant parcel is owned by the City through the Parks Department and the sale or disposition of this site would require a 100% affirmation by the City Council at a public hearing.
Staff requests Council provide consensus on moving the sale of the vacant property forward at a future Council meeting. ATTACHMENTS 1. 2017 Appraisal 2. 2018 Appraisal 3. Purchase Agreement Letter 4. Traffic Generation Letter (Kimley/Horn)
MacTaggart and Mosier, Inc.
Real Estate Appraisers and Consultants 40 South Allison Street Lakewood, CO 80226 Ph: 303-399-5615
email: rcmosier@aol.com
August 15, 2018
City of Wheat Ridge 7500 West 29th Avenue
Wheat Ridge, CO 80033
Attn.: Steve Art, Executive Director of the
Urban Renewal Authority
Dear Mr. Art:
You are in receipt of an appraisal of the land east of the
southeast corner of 38th Avenue at Kipling Street prepared March
31, 2017 with an effective date of March 26, 2017. The purpose
of the inspection was to estimate the market value of the fee
simple estate in this property in its “as is” condition. The
intended use of the appraisal report is to serve as a basis for
pricing the property for disposal. The City is the client and the
sole intended user of that appraisal report. At its discretion,
the prospective buyer, its attorney and accounting professional
may be included as additional intended users. In that appraisal I
estimated the value of the land in the standalone secondary
commercial premise to be $400,000 and the value in an assemblage
to the corner premise to be $600,000.
This letter is an update to the original appraisal. It
carries an effective date of August 8, 2018, the most recent date
of inspection, has the intended use of establishing a basis for
ATTACHMENT 2
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 2
pricing the property for disposal, and is prepared for the same
intended user, namely the City of Wheat Ridge.
The sections of the original appraisal report that are
updated, or are not changed but warrant emphasis, follow.
OWNERSHIP AND SALES HISTORY
The ownership has not changed and the owner is still the City
of Wheat Ridge. It is still not under contract but the agent for
CVS drug stores is proposing to buy the property. I have not been
informed as to the asking price or offered amount in relation to
this prospective sale.
TAXES AND ASSESSMENTS
The land is valued at $8,155 for 2017 taxes payable in 2018,
and it remains $8,155 for 2018 taxes payable in 2019.
HIGHEST AND BEST USE
The highest and best use as a standalone site remains as an
office or secondary commercial use. Combined with the corner
site, the highest and best use as assembled is still for a high-
intensity retail commercial use.
SALES COMPARISON APPROACH
A new search for comparable sales of secondary commercial
sites reveals three new sales, Sale Nos. 7, 8 and 9 cited with the
original six sales below.
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 3
Land Sales, Jefferson County
File LSGRet1704.WR.38th
Sale Location Area Price
No.Grantor/Grantee Date Price (Sq.Ft.)Comments Per SF Financing
--- ---------------- -------- -------------- ---------
1 7321 Sheridan Blvd.Aug-17 $480,000 24,829 Zoned PUD, Westminster, Lot in a Commercial Subdivision.$19.33 Cash to Seller.
Tepper Partners/New Verizon Store, Sold as Net Leased Investment Jun-18.
BTS Sheridan VZ, LLC
2 9890 W. 44th Ave.Jul-15 $532,000 43,516 Zoned C-1 Wheat Ridge; Residential Improvements. Demo'd $12.23 Cash to Seller.
Cluck Estate/After Sale; Actual Price $507,000, Plus Demo. $25K = $532,000
Sheard Family Trust
3 7960 Wadsworth Blvd.May-15 $500,000 51,836 Zoned B-2 Arvada; Vacant Pad w/o Wadsworth Frontage.$9.65 Cash to Seller.
Edgemark Development Services, LLC/Purchased for Dental Clinic.
Mountain Dental Specialties, LLC
4 N of NWC Bowles Avenue @ Simms St.Nov-15 $450,000 30,000 Zoned PD, Jefferson County; Lot in Commercial Subdivision.$15.00 Cash to Seller.
Market Development Corporation/Purchased for Christian Brothers Automotive.
CBH Properties Ken Caryl, LLC
5 6230 W. 38th Ave.Oct-15 $432,000 30,056 Zoned MU-N Wheat Ridge $14.37 Cash to Seller.
Johnson/41 dom Vacant Lot; For Sale
Sophium Real Estate, LLC
6 NW of NWC 64th Avenue at Indiana St.Sep-16 $425,000 27,007 Zoned PUD-BP, Arvada; Vacant Site.$15.74 Cash to Seller
Acorn 4 Arvada Marketplace/
Doud BTS, Inc.
7 5290 W. Arizona Ave.Aug-17 $375,000 27,878 Zoned M-G-S, Lakewood.$13.45 Cash to Seller.
Guzman/102 dom Previous Sale Sep-16 $220,000, or $7.89/SF.
HM Rental I, LLC
8 1825-1975 Kipling St.Listing $341,000 22,651 Zoned M-E-U, Lakewood $15.05 Cash to Seller.
Listing Previous Sale May-17 $165,000, or $7.28/SF
9 8399 Ralston Rd.Feb-17 $160,600 10,500 Zoned P-1, Arvada $15.30 Cash to Seller.
BB Holdings Colorado, LLC/Purchased by investor to sell to adjacent owner for parking
McClaflin Real Estate, LLC 2 days later Feb-17 for $200,000 or $19.05/SF.
25% increase over normal price for assemblage.
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 4
Sale Nos. 1 through 6 are the sales from the original report
with only a modification for the listing is now a sale in Sale No.
1. Sale Nos. 7 through 9 are new sales generated for this update
of the appraisal. All the sales are processed like they were
through the original appraisal, including the application of a 10%
per year time adjustment to all the sales to bring them to the
current date. The adjustment grid that follows develops value
indications from $14.21 to $19.36 per square foot. Weighting the
new sales the most, the weighted average is $17.06 per square
foot.
It is important to note that the new sales indicate a lower
value than the six sales from the original report. Two reasons
explain this phenomenon. The new sales are generally in more
marginal retail areas, and although adjustment for location has
brought them more in line, the adjustment may have not been
enough. And the time adjustment for the original sales at 10% per
year for as long as three years results in hefty adjustments to
the original sales. Property appreciation can have waned in the
last year and a half, but in other segments of the Denver land
market I have observed spikes in land prices and I reject a lower
time adjustment. The best way to reflect the softening land
appreciation, if that is what is happening, is to place a greater
weight on the newer sales. Ranking the sales in descending order,
with the newer sales carrying the greatest weight, the weighted
average is $17.06, calculating a value estimate of ($17.06 per
square foot X 25,378 square feet = ) $432,949, rounded to:
VALUE ESTIMATE BY SALES COMPARISON APPROACH STANDALONE SECONDARY COMMERCIAL PREMISE $450,000
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 5
Adjustment Grid to Compare to 38th Ave. E. of Kipling St.
Sale Location Price Circumst.Subtotal Adjusted Location Layout Net Indicated
No.Grantor/Grantee Per SF Time of Sale Financing Adjustments Price /Use Topography Size Adj.Value Weight Extension
--- ----------------- ------- ------------------ ---------------- -------- ---------------------------- ------ --------
1 7321 Sheridan Blvd.$19.33 110% 100% 100%110% $21.36 -10%0%0% -10% $19.22 5 $96.10
12 Interior Level
Visibility to Maj. St.
2 9890 W. 44th Ave.$12.23 136% 100% 100%136% $16.62 0%0%10%10% $18.28 4 $73.13
37 Interior Level
Min. Ret. Exposure
3 7960 Wadsworth Blvd.$9.65 138% 100% 100%138% $13.33 0%0%10%10% $14.67 2 $29.33
39 Interior Level
Min. Ret. Exposure
4 N of NWC Bowles Avenue @ Simms St.$15.00 130% 100% 100%130% $19.56 -10%0%0% -10% $17.61 1 $17.61
32 Interior Level
Visibility to Maj. St.
5 6230 W. 38th Ave.$14.37 132% 100% 100%132% $18.90 0%0%0%0% $18.90 3 $56.70
33 Interior Level
Min. Ret. Exposure
6 NW of NWC 64th Avenue at Indiana St.$15.74 123% 100% 100%123% $19.36 0%0%0%0% $19.36 6 $116.19
25 Interior Level
Min. Ret. Exposure
7 5290 W. Arizona Ave.$13.45 110% 100% 100%110% $14.86 20%0%0%20% $17.83 9 $160.49
12 Interior Level
Min. Ret. Exposure
Stagnant
Retail Area
8 1825-1975 Kipling St.$15.05 90% 100% 100%90% $13.55 10%0%0%10% $14.90 7 $104.33
Listing Corner Level
Visibility to Maj. St.
Stagnant
Retail Area
9 8399 Ralston Rd.$15.30 116% 100% 100%116% $17.76 -10%0% -10% -20% $14.21 8 $113.66
18 Corner Level
Visibility to Maj. St.
Column Totals:45 $767.54
Weighted Average:$17.06
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 6
PREMIUM FOR ASSEMBLAGE
Because the highest and best use is for assemblage to the
corner to create a retail site for a national retailer, the
value of the subject is influenced by: its proximity to the
corner; the lack of adequate size of land at the corner for a
national chain retail site; and the lack of other possibilities
to acquire the necessary land. A premium over and above its
value as a standalone secondary commercial site is warranted.
The following sales are presented to demonstrate the going rate
for corner locations for national retailers to construct new
facilities. Sale Nos. 10 through 13 are from the original
report, and Sale No. 14 was added for this update. The range is
from $21.96 to $37.64 per square foot before adjustments. After
making transactional adjustments (in this case just for time)
the prices are $23.66 to $46.32 per square foot. The value of
the assembled site of 52,036 square feet is from $30.00 to
$35.00 per square foot, or between $1,230,000 to $1,820,000,
rounded.
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 7
Corner Sites to National Retailers
Sale Location Area Price
No.Grantor/Grantee Date Price (Sq.Ft.)Comments Per SF Financing
10 5904 S. Kipling St.Dec-16 $1,450,000 56,198 Zoned PD, Jefferson County; Car Wash, 3,372 SF Demo'd $25.80 Cash to Seller.
Gosch, et ux., Heckman Management/405 dom 2 Retail Buildings 5,447 SF Demo'd
CVS 10782 Co., LLC Actiual Price $1,350,000 plus Demo $100K = $1,450,000.
11 280 S. Yarrow St.Jan-17 $1,650,000 55,404 Zoned M-C-U, Lakewood $29.78 Cash to Seller
Suppa Properties, LLC Purchased for new retail center 17,621 SF.
EGO, Inc.
12 NWC 72nd Ave. @ Sheridan Blvd.Jun-16 $705,000 18,731 Zoned PUD Westminster; Lot in a Commercial Subdivision.$37.64 Cash to Seller
Cadence Development, LLC/Same-Day Sale Tepper, et ux to Cadence, $530,000, or $28.30/SF
Legend Lake 7211 N Sheridan, LLC "Denny's" Restaurant now under construction.
13 3244 S. Wadsworth Blvd.Jun-16 $975,000 28,835 Zoned C-R Lakewood; "Perkins" Restaurant, 5,212 SF Demo'd $33.81 Cash to Seller.
Mitchel Cory Family, LLC/Actiual Price $900,000 plus Demo $75K = $975,000.
Red Robin West, Inc.Pad in Shopping Center; Purchased for new "Red Robin" restaurant.
14 Lot 8, Gateway Village, US 40 NW of I-70 Jun-17 $1,798,443 81,893 Zoned Commercial, Golden; Purchased for a convenience store; Adja $21.96 Cash to Seller
Gateway Land Investment, LLC/new hotels.
KG Store 319, LLC
Reception # 2017064129, Jun 21, 2017
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 8
These sales are not used to directly value the subject
site. The subject has no frontage or exposure to the major
thoroughfare. But assembled to the corner, it takes on the
characteristics of the larger corner site. These sales
represent the maximum amount of value the subject site could
obtain were it included with the corner site. To build a free-
standing retail store about 50,000 square feet of land area is
necessary and the corner has 26,658 square feet. The subject
site (25,378 square feet) is necessary to assemble to the corner
to achieve this size necessary for national retail development.
This puts the subject property in an advantageous negotiating
position, and the premium for assemblage will be substantial.
Sale No. 9 presented earlier is a new sale for this update
and is cited at the first sale as a standalone site, selling for
$15.30 per square foot. In the second sale two days later, it
sold for $19.05 to the owner of the adjacent office building for
parking. This is an increment of ($19.05 per square foot /
$15.30 per square foot = ) 1.245, or 25% for assemblage.
Sale No. 15, cited below, is the anatomy of a commercial
land assemblage for a self-storage facility in Arvada. The
assemblage of the site is summarized:
Assemblage for a Self-Storage Facility
Sale Location Area Price
No.Grantor/Grantee Date Price (Sq.Ft.)Comments Per SF
--- ---------------- -------- --------------
15 9989 W. 60th Ave.Feb-16 to Apr-17 $2,195,000 91,089 Zoned B-2, Total Assemblage for Arvada Self Storage $24.10
Arvada Urban Renewal / 60th & Ralston, LLC Feb-16 $180,000 41,474 Vacant Site Subsidized by Arvada Urban Renewal; 838 dom $4.34
Vigil / 60th & Ralston, LLC Apr-17 $650,000 35,850 Monterrey House Restaurant; Act. Price $587K + Demo = $650K $18.13
Erickson / 60th & Ralston, LLC Mar-17 $1,365,000 13,765 3-Story Office Bldg.; Act. Price $1,250,000 + Demo = $1,365,000 $99.16
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 9
LAYOUT OF SELF-STORAGE FACILITY SITE.
The assemblage was accomplished in three parts: the
original purchase at a discounted price from the Urban Renewal
Authority; then a nearly simultaneous purchase over one year
later of a restaurant (a large critical part of the assemblage)
and an office building (a smaller part of the assemblage that
enhances the layout and density but is not vital to the
project). The discounted price of the original purchase makes
it feasible to buy improved property and spend money on
demolition. But taken altogether, the assembled price of $24.10
is more than the price paid for other self-storage sites on the
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 10
West Side of town. Because the base for measuring assemblage
premium is skewed so low (the Urban Renewal price) a premium for
assemblage cannot be measured. But it is clear from the price
paid for the office building ($99.16 per square foot of land
area) that the premium is extraordinarily high. Stated another
way, the assemblage of the Urban Renewal site and the adjacent
restaurant cost $830,000 for 77,324 square feet, or $10.73 per
square foot of land. Adding the last 13,765 square feet of land
with the office building, the cost skyrockets to $2,195,000 or
$24.10 per square foot of land. The addition of 18% more land
area added 164% to the assembled Urban Renewal site and the
restaurant site to make the three-parcel assemblage.
From a 25% premium as measured by Sale No. 9 to
unquantified but exorbitant premium as measured by Sale No. 15,
a 50% premium used in the original appraisal is justified. The
value of the subject property in the assemblage to the corner
premise is ($17.06 per square foot standalone premise X 1.5
assemblage premium = $25.59 per square foot assembled to the
corner X 25,378 square feet = ) $649,423, rounded to:
MARKET VALUE ESTIMATE ASSEMBLAGE TO THE CORNER PREMISE $650,000 VALUATION SUMMARY
Due to the proximity of this property to the corner and its
complementary layout and size with relation to the corner
parcel, both the standalone secondary commercial premise and the
Mr. Steve Art City of Wheat Ridge
August 15, 2018 Page 11
assemblage to the corner premise are presented. Those value
estimates are:
MARKET VALUE ESTIMATES STANDALONE SECONDARY COMMERCIAL PREMISE $450,000 ASSEMBLAGE TO THE CORNER PREMISE $650,000 CERTIFICATION
I certify that, to the best of my knowledge and belief:
• The statements of fact contained in this report are true and correct;
• the reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional analyses, opinions and conclusions;
• I have no present or prospective interest in the property that is the
subject of this report and no personal interest with respect to the parties involved;
• I have performed no services as an appraiser or in any other capacity, regarding the property that is the subject of this report within the
three-year period immediately preceding acceptance of this assignment;
• I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment;
• my engagement in this assignment was not contingent upon developing or reporting predetermined results;
• my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal;
• my analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Appraisal Institute’s Code of Professional Ethics and Standards of Appraisal Practice, which include the Uniform Standards of Professional Appraisal Practice. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. As of the date of this report, Richard C. Mosier has completed the requirements of the continuing education program of the
Appraisal Institute;
• I have made a personal inspection of the property that is the subject of this report; and
• no one provided significant real property appraisal assistance to the person signing this certification. Richard C. Mosier, MAI
Colorado General Certified Appraiser #CG01313149
EXHIBIT “A”
QUALIFICATIONS OF THE APPRAISER AND LIMITING CONDITIONS
QUALIFICATIONS OF APPRAISER NAME : Richard C. Mosier, MAI EDUCATION : Bachelor of Science Degree in Business Administration; Building Industry and Real Estate
Major; University of Denver, June, 1973. APPRAISAL DESIGNATIONS, OFFICES HELD: MAI (Member, Appraisal Institute) Certificate No. 6334, November, 1981 Appraisal Institute, Colorado Chapter, President 1991 Appraisal Institute, Region II Finance Officer 1993-2004 Appraisal Institute, Region II, Chair 2007 Appraisal Institute, National Board of Directors 2006-2007 APPRAISAL INSTITUTE CLASSROOM INSTRUCTOR:
AI Basic Appraisal Principles Since 2012 AI Basic Appraisal Procedures Since 2012 AI General Sales Comparison Approach Since 2013
AI General Income Capitalization Approach, Parts 1 and 2 Since 2013 AI General Site Valuation and Cost Approach Since 2013 MEMBER OF : Denver Board of Realtors (Appraiser Member). LICENSES : Real Estate Broker in Colorado since June, 1975 Certified General Appraiser in Colorado, #CGO1313149 Certified General Appraiser in Wyoming, #376 BUSINESS AFFILIATIONS: Mac Taggart & Mosier, Inc., President 40 South Allison Street Lakewood, Colorado 80226 APPRAISAL EXPERIENCE: Appraised various types of real property including single-family homes, condominiums, apartments, shopping centers, commercial buildings, restaurants, service stations, office buildings, warehouses, manufacturing plants, motels, golf courses, subdivisions and land developments, easements, conservation easements, water rights, leased fee and leasehold estates, and special purpose, residential, commercial and industrial land. Qualified expert witness in District Courts of Denver, Arapahoe, Boulder, Douglas, Elbert and Jefferson Counties, Federal Bankruptcy Court, various arbitration proceedings. CAREER HISTORY: Associated with C. K. Mac Taggart, MAI, since graduating
from college in 1973 in a research analyst capacity until 1976. Served as an associate appraiser until July, 1980, when Mac Taggart and Mosier, Inc., was formed. REPRESENTATIVE LIST OF APPRAISAL CLIENTS: AAA Colorado ANB Bank Bank of the West Boulder County Board of Equalization Broomfield County Board of Equalization City of Lakewood City of Wheat Ridge City of Centennial Colorado State Bank Colorado Department of Transportation Colliers International Comerica Bank
Denver Health and Hospitals Denver Lumber Company Douglas County Douglas County Board of Equalization Federal Deposit Insurance Corporation Fidelity National Title First Citizen’s Bank
FirstBank GE Capital National Home State Bank
Jefferson County Dept. of Highways
Jefferson County
Open Space Kansas State Bank Metro West
Housing Solutions PCV Murcor Sage Capital
Town of Loveland Town of Silverthorne UMB Bank
Wells Fargo Trust Department Various Private
Individuals
LIMITING CONDITIONS AND ASSUMPTIONS
1. Title to the property is assumed to be good and marketable. 2. No responsibility for legal matters is assumed, nor is the appraiser(s) required to give testimony or appear in
court unless prior arrangements have been made in writing. If any courtroom or administrative testimony is required in connection with this report, an
additional fee shall be charged for those services.
3. All information in this report has been obtained from reliable sources. The appraiser(s) cannot, however, guarantee or be responsible for the accuracy of the information furnished by others.
4. Sketches in this report are intended for illustrative purposes only. 5. If the property being appraised is a fractional interest(s) of real estate, it, when added to the value
of any other fractional interest(s), may or may not equal the value of the entire fee simple estate.
6. If the property being appraised is a geographical portion of a larger parcel, it, when combined with the
remaining geographical portion(s), may or may not equal the value of the whole.
7. One (or more) of the signatories of this appraisal report is a member of the Appraisal Institute. The
Bylaws and Regulations of the Institute require each member to control the use and distribution of each
appraisal report signed by such member. The party for whom this appraisal report was prepared may distribute copies of this report, bearing original signature(s), only in its entirety. Such copies that are distributed must contain all exhibits including these limiting
conditions and assumptions. 8. Neither all nor any part of the contents of this report
shall be conveyed to the public through advertising, public relations, news, sales, or other media without
the written consent and approval of the appraiser(s), particularly as to valuation conclusions, the identity of the appraiser(s) or firms with which connected, or
any reference to the Appraisal Institute or to the MAI or SRA designations.
9. The distribution of the total valuation in this report between land and improvements applies only under the existing utilization and zoning of the property. Land and improvements are not severable for other valuation
purposes. 10. Mechanical, electrical and plumbing systems in the
improvements are presumed to be in operating condition, and no liability for the malfunction of those items is
assumed by the appraiser(s). A qualified engineer is recommended for an opinion of serviceability and adequacy of those components. 11. (For proposed improvements). Completion as per the
plans and specifications submitted and construction to start within a reasonable time period from the date of this report. 12. (For proposed improvements). The appraiser(s) reserves
the right to inspect the subject improvements when completed to verify conformance with the plans and
specifications upon which this appraisal is based. 13. Soils conditions, underground or concealed hazardous
materials, or other features of the property not visibly apparent are not investigated by the appraiser(s) unless
it is specifically addressed in the report. Any damages arising from such defects in the property is without warranty or liability of the appraiser(s).
14. Any damages incurred by the use of or reliance on the
appraisal report is without warranty or liability except for the amount of the fee paid to the appraiser(s). 15. By the use of or reliance on this appraisal report, such user is assumed to have read and agrees to these 15
numbered limiting conditions and assumptions. END OF APPRAISAL REPORT AND EXHIBITS
T. N.'T.
CROWLEY
& ASSOCIATE,S
October 3, 2018
Steve Art
Executive Director
Wheat Ridge Urban Renewal Authority
7500 West 29th Avenue
Wheat Ridge, Colorado 80033
Steve -
Please accept this letter as confirmation of TMC Colorado 2, LLC's agreement with the
appraisal price of $650,000 contained in the updated August 15, 2018 appraisal from
MacTaggart and Mosier to the City of Wheat Ridge.
TMC Colorado 2, LLC is currently under contract with the other parcels necessary to complete
the development of a CVS Pharmacy and the relocation and development of the AppleRidge
Caf6. The above price would be subject to further contingencies regarding the development
timeline and permitting of the aforementioned developments and assistance from the Wheat
Ridge Urban Renewal Authority.
Please let me know if you have any further questions.
Thank you,
il/
NaarLto
Executive Vice President of Real Estate Development
T.M. Crowley and Associates
5O'1 PEN NSYLVANIA PARKVVAY - SUITEl60
y. \'' w. t n cr a v, le y. c o m
,i(317)7O5-aaOO . 1 t317)7O5-AAO1
ATTACHMENT 3
kimley-horn.com 4582 South Ulster Street, Suite 1500, Denver, CO 80237 303 228 2300
October 9, 2018
Wheat Ridge Urban Renewal Authority 7500 West 29th Avenue Wheat Ridge, Colorado 80033
Attn: Mr. Steve Art Executive Director
Re: SEC 38th & Kipling Redevelopment Trip Generation Comparison Letter
Dear Mr. Art:
This letter documents a comparison of trip generation of a proposed redevelopment to occur on the southeast corner of the 38th Avenue and Kipling Street intersection in Wheat Ridge, Colorado. Apple Ridge Café exists directly on this corner, and a vacant parcel is located to the east of this existing restaurant. A redevelopment is proposed which would include
replacing the existing restaurant and vacant parcel with a proposed approximate 13,111 square foot pharmacy with drive-through window.
Apple Ridge Café is approximately 3,000 square feet. It is believed that the existing vacant parcel to the east could and would likely otherwise develop into a 3,000-square foot fast food restaurant with drive through if this redevelopment project were not to occur. Therefore, a trip generation comparison between the existing 3,000 square foot Apple Ridge Café sit down restaurant and possible adjacent 3,000 square foot fast food restaurant with drive through was compared to a pharmacy with drive through use.
Site-generated traffic estimates are determined through a process known as trip generation. Rates and equations are applied to the existing and proposed land uses to estimate traffic
generated by the development during a specific time interval. The acknowledged source for trip generation rates is the Trip Generation Manual1 published by the Institute of Transportation Engineers (ITE). ITE has established trip rates in nationwide studies of
similar land uses. Trip generation was based on the ITE Trip Generation, 10th Edition (most current edition) average rate equations for high-turnover sit-down restaurant (ITE Code 932) for the Apple Ridge Café restaurant, fast-food restaurant with drive-through (ITE Code 934)
for the adjacent vacant parcel to represent development potential, and Pharmacy/Drugstore with Drive-Through Window (ITE Code 881) for this proposed redevelopment project to
provide a comparative analysis.
The following table summarizes the anticipated trip generation for the proposed 13,111 square foot pharmacy with drive through window compared with the existing 3,000 square foot Apple Ridge Café restaurant and possible adjacent 3,000 square foot fast food restaurant with drive-through window (trip generation calculations are attached).
1 Institute of Transportation Engineers, Trip Generation Manual, Tenth Edition, Washington DC, 2017.
ATTACHMENT 4
Mr. Art 096375030 Page 2
kimley-horn.com 4582 South Ulster Street, Suite 1500, Denver, CO 80237 303 228 2300
Trip Generation Comparison Apple Ridge Café and Adjacent Fast Food Restaurant to Pharmacy with Drive Through (proposed restaurant)
USE AND SIZE DAILY VEHICLE TRIPS
WEEKDAY VEHICLE TRIPS
AM Peak Hour PM Peak Hour
In Out Total In Out Total
Existing & Possible Uses – Apple Ridge Café and Adjacent Fast Food Restaurant
Sit-Down Restaurant (932) 3,000 Square Feet 338 16 14 30 18 11 29
Fast Food Restaurant w/ DT (934) 3,000 Square Feet 1,414 62 59 121 51 47 98
Total 1,752 78 73 151 69 58 127
Proposed Use – Pharmacy with Drive Through
Pharmacy/Drugstore W DT (881) 13,111 Square Feet 1,432 26 24 50 68 68 136
Net Difference in Trips -320 -52 -49 -101 -1 +10 +9
As summarized in the table, the currently proposed redevelopment of the southeast corner
of the 38th Avenue and Kipling Street intersection to a pharmacy with drive through would be anticipated to generate 1,432 daily weekday trips with 50 trips occurring during morning peak hour, and 136 trips occurring during the afternoon peak hour based on ITE equations
and data. Based on the ITE equations for the existing Apple Ridge Café sit-down restaurant and a possible adjacent fast food restaurant with drive through, the proposed pharmacy redevelopment is anticipated to generate less traffic over an average weekday and during the morning peak hour, with slightly more traffic generated during the afternoon peak hour. The change in use is anticipated to account for a decrease of approximately 320 daily trips, a decrease of 101 trips in the morning peak hour, and an increase of 9 trips during the afternoon peak hour. Important to note, it is believed that the traffic generated by the existing Apple Ridge Café may be greater than the volumes predicted from the ITE equations due to the known busyness of the restaurant and the amount of parking provided
on site.
In summary, this traffic study letter provides a trip generation comparison for a proposed
pharmacy with drive through redevelopment to be located on the southeast corner of the 38th Avenue and Kipling Street intersection in Wheat Ridge, Colorado. The redevelopment is anticipated to decrease daily and morning peak hour traffic, but only slightly increase traffic to the project site during the afternoon peak hour. If you have any questions or require anything further, please feel free to call me at (303) 228-2304.
Sincerely,
KIMLEY-HORN AND ASSOCIATES, INC.
Curtis D. Rowe, P.E., PTOE Vice President
10/09/2018
Project Apple Ridge Café
Subject Trip Generation for High-Turnover (Sit-Down) Restaurant
Designed by Curtis Rowe Date September 26, 2018 Job No.
Checked by Date Sheet No.1 of 1
TRIP GENERATION MANUAL TECHNIQUES
ITE Trip Generation Manual 10th Edition, Average Rate Equations
Land Use Code - High Turnover Sit-Down Restaurant (932)
Independant Variable - 1000 Square Feet Gross Floor Area (X)
Gross Floor Area =3,000 Square Feet
X = 3.000
T =Average Vehicle Trip Ends
Peak Hour of Adjacent Street Traffic, One Hour Between 7 and 9 a.m. (900 Series Page 97)
Average Weekday Directional Distribution:55% ent. 45%exit.
T = 9.94 (X)T =30 Average Vehicle Trip Ends
T = 9.94 *3.000 16 entering 14 exiting
Peak Hour of Adjacent Street Traffic, One Hour Between 4 and 6 p.m. (900 Series Page 98)
Average Weekday Directional Distribution:62% ent. 38%exit.
T = 9.77 (X)T =29 Average Vehicle Trip Ends
T = 9.77 *3.000 18 entering 11 exiting
Weekday (900 Series Page 96)
Average Weekday Directional Distribution: 50% entering, 50% exiting
T = 112.18 (X)T =338 Average Vehicle Trip Ends
T = 112.18 *3.000 169 entering 169 exiting
P.M. Peak Hour of Generator (900 Series Page 100)
Average Weekday Directional Distribution:52% ent. 48%exit.
T = 17.41 (X)T =52 Average Vehicle Trip Ends
T = 17.41 *3.000 27 entering 25 exiting
Saturday Peak Hour of Generator (900 Series Page 105
Average Saturday Directional Distribution:51% ent. 49%exit.
T = 11.19 (X)T =34 Average Vehicle Trip Ends
T = 11.19 *3.000 17 entering 17 exiting
Non Pass-By Trip Volumes (Per ITE Trip Generation Handbook, 3rd Edition September 2017-Page 207)
AM Peak Hour =57%Non-Pass By PM Peak Hour =57%Non-Pass By
IN Out Total
AM Peak 9 8 18
PM Peak 10 6 17
Daily 96 96 192 PM Peak Hour Rate Applied to Daily
Pass-By Trip Volumes (Per ITE Trip Generation Handbook, 3rd Edition September 2017 -Page 207)
AM Peak Hour =43%Pass By PM Peak Hour =43%Pass By
IN Out Total
AM Peak 7 6 14
PM Peak 8 5 13
Daily 73 73 146 PM Peak Hour Rate Applied to Daily
Project SEC 38th & Kipling
Subject Trip Generation for Fast-Food Restaurant with Drive-Through Window
Designed by CDR Date October 09, 2018 Job No.
Checked by Date Sheet No.1 of 1
TRIP GENERATION MANUAL TECHNIQUES
ITE Trip Generation Manual 10th Edition, Average Rate Equations
Land Use Code - Fast Food Restaurant With Drive-Through Window (934)
Independant Variable - 1000 Square Feet Gross Floor Area (X)
Gross Floor Area = 3,000 Square Feet
X =3.000
T = Average Vehicle Trip Ends
Peak Hour of Adjacent Street Traffic, One Hour Between 7 and 9 a.m. (900 Series page 158)
Average Weekday Directional Distribution: 51%ent.49%exit.
T = 40.19 (X)T =121 Average Vehicle Trip Ends
T = 40.19 * 3.000 62 entering 59 exiting
62 +59 (*) =121
Peak Hour of Adjacent Street Traffic, One Hour Between 4 and 6 p.m. (900 Series page 159)
Average Weekday Directional Distribution: 52%ent.48%exit.
T = 32.67 (X)T =98 Average Vehicle Trip Ends
T = 32.67 * 3.000 51 entering 47 exiting
51 +47 =98
Weekday (900 Series page 157)
Average Weekday Directional Distribution: 50% entering, 50% exiting
T = 470.95 (X)T =1414 Average Vehicle Trip Ends
T = 470.95 * 3.000 707 entering 707 exiting
707 +707 =1414
Saturday Peak Hour of Generator (900 Series page 163)
Directional Distribution: 51%ent.49%exit.
T = 54.86 (X)T =165 Average Vehicle Trip Ends
T = 54.86 * 3.000 84 entering 81 exiting
84 +81 =165
Non Pass-By Trip Volumes (Per ITE Trip Generation Handbook, 3rd Edition September 2017)
AM Peak Hour =51%Non-Pass By PM Peak Hour =50%Non-Pass By
IN Out Total
AM Peak 32 30 62
PM Peak 26 24 49
Daily 354 354 708 PM Peak Hour Rate Applied to Daily
Pass-By Trip Volumes (Per ITE Trip Generation Handbook, 3rd Edition September 2017)
AM Peak Hour =49%Pass By PM Peak Hour =50%Pass By
IN Out Total
AM Peak 30 29 59
PM Peak 26 24 49
Daily 353 353 706 PM Peak Hour Rate Applied to Daily
Project SEC 38th & Kipling
Subject Trip Generation for Pharmacy/Drugstore with Drive-Through Window
Designed by Date Job No.
Checked by Sheet No.of
TRIP GENERATION MANUAL TECHNIQUES
ITE Trip Generation Manual 10th Edition, Average Rate Equations
Land Use Code - Pharmacy/Drugstore with Drive-Through Window (881)
Independant Variable - 1000 Sq. Feet Gross Floor Area (X)
SF=
X =
T = Average Vehicle Trip Ends
Peak Hour of Adjacent Street Traffic, One Hour Between 7 and 9 a.m. (page Series 800 Page 562)
Average Weekday Directional Distribution: ent.exit.
T = 3.84 (X)T =50 Average Vehicle Trip Ends
(T) = 3.84*(13.1)entering exiting
+=
Peak Hour of Adjacent Street Traffic, One Hour Between 4 and 6 p.m. (Series 800 page 563)
Average Weekday Directional Distribution: 50%ent.50%exit.
T = 10.29 (X)T =Average Vehicle Trip Ends
(T) = 10.29 *(13.1)entering exiting
+=136
Weekday (Series 800 page 561)
Average Weekday Directional Distribution: 50% entering, 50% exiting
T =Average Vehicle Trip Ends
(13.1)entering exiting
716 +716 =1432
Directional Distribution: ent.exit.
T =108 Average Vehicle Trip Ends
(13.1)53 entering 55 exiting
53 +55 =108
Non-Pass-by Trip Volumes (page 63, ITE Trip Generation Handbook, December 2012)
PM Average Pass By Percentage:51%Pass By
IN Out Total
AM Peak 25 PM Rate Applied to AM Peak
PM Peak 69
Daily 732 PM Rate Applied to Daily
Saturday 55 PM Rate Applied to Saturday
Pass-by Trip Volumes (page 63, ITE Trip Generation Handbook, December 2012)
PM Average Pass By Percentage:49%Pass By
IN Out Total
AM Peak 24 PM Rate Applied to AM Peak
PM Peak 67
Daily 702 PM Rate Applied to Daily
Saturday 53 PM Rate Applied to Saturday26
351
33
27
351
33
1213
28
365
13
27
365
T = 8.20 (X)
(T) = 8.20 *
35
53%47%
12
35
Saturday Peak Hour of Generator (page 1807)
68
136
2426
26 24 50
716
68
51%49%
13.111
13111
T = 109.16 (X)
(T) = 109.16 *716
1432
68 68
Memorandum
TO: Mayor and City Council FROM: Patrick Goff, City Manager DATE: October 9, 2018 (for October 15, 2018 Study Session)
SUBJECT: Appointment of Elected Officials
ISSUE: Councilmember Duran and City Treasurer DiTullio are on the November 6, 2018 ballot seeking election as a state representative and Jefferson County Treasurer, respectively. If they are elected, vacancies will be created for a councilmember in District 1 and the City Treasurer. Councilmembers
Hoppe and Fitzgerald requested that an agenda item be included on the October 15th study session to
discuss a procedure for filling these vacancies, if required. BACKGROUND: The Wheat Ridge City Charter addresses vacancies of councilmembers and other elected officials as
stated below:
Sec. 4.5. Vacancies. (a) A councilmember shall continue to hold her office until her successor is duly qualified. A council position shall become vacant whenever any councilmember is recalled, dies,
becomes incapacitated, resigns, refuses to serve, or ceases to be a resident of the city or
district from which elected, or is convicted of a felony. (b) Within thirty (30) days after a vacancy occurs on the council, the remaining councilmembers shall choose by majority vote a duly qualified person from the proper district to fill such vacancy…
Sec. 3.11. Vacancies in elective offices. (a) An elected official shall continue to hold his office until his successor is duly qualified. An elective office shall become vacant whenever any officer is recalled, dies, becomes incapacitated, resigns, refuses to serve, ceases to be a resident of the city, or is convicted of a
felony.
(b) … (c) If a vacancy occurs in the office of the city clerk or city treasurer, no special election shall be called but such vacancy shall be filled by appointment by the council for the remainder of the term.
Sec. 4.4. Qualifications.
(a) No person shall be eligible to hold the office of a councilmember unless, at the time of her
election, she is a registered elector, as defined by Colorado Revised Statutes, and is a resident of the district from which she is elected for a period of at least twelve (12) consecutive months immediately preceding the date of the election.
Note: City Treasurer shall have the same qualifications as members of the council.
City Charter, Wheat Ridge Code of Laws or Council Rules and Procedures do not address specific procedures for the appointment of councilmembers or other elected officials.
RECOMMENDATION: If vacancies occur in either of these elected offices, staff recommends the following procedure for filling those vacancies:
1. Advertise the vacancies widely throughout the community seeking applications from duly
qualified residents to fill the vacancy(ies). 2. Accept applications from interested residents. 3. Conduct interviews of applicants during a study session and/or allow for applicant presentations at a regular business meeting.
4. Choose, by majority vote, candidates to fill vacancy(ies).