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HomeMy WebLinkAboutCharles Golding, Jr. & Corporon Keene & HoehnL..uItADO DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT, as authorized by the SUBDIVISION REGULAT ONS of the /� TY E is entered into this J day of '/ � 4 / OF WHEAT RIDGE - L , between the City of Wheat Ridge, a Municipal orporation, hereinafter referred to as City, and Charles Golding, _Jr. & Corporon Keene & Hoehn herein- after referred to as Owner, and concerns property located at 7615 & 7777 W. 38th Avenue WITNESSETH: WHEREAS, Owner is the titled Owner of a tract of land in the City of Wheat Ridge, County of Jefferson, State of Colorado, more fully described in Exhibit A, which is attached hereto and expressly made a part hereof (which property is hereinafter referred to as "the Property "); and WHEREAS, Owner desires to develop the Property but has not been issued a Building Permit as of (N /A) to do so; and - -" -- WHEREAS, curb, gutter, sidewalk and street improvements bordering the Property and the neighboring tracts of land are incomplete and /or below those standards as set out in the SUBDIVISION REGULATIONS of the City; and WHEREAS, to be uniform and consistent with the existing neighboring improvements, the completion or non - completion of those improvements as required by SECTION FIVE: IM- PROVEMENTS of the SUBDIVISION REGULATIONS will make no significant change at the present in those streets front- ing the Property and the neighboring tracts of land; and WHEREAS, in order to conform to those requirements as set out in the SUBDIVISION REGULATIONS of the City, this Agreement is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for meeting, conforming to and provid- ing those requirements as set out in the SUBDIVISION REGU- LATIONS of the City, is hereby recognized by Owner. 7. The Director of Public Works, upon the direction of the Mayor or the City Administrator, shall give written notice directing the Owner or his assigns and successors to meet those requirements as set out in the SUBDIVISION REGULA- TIONS of the City and to construct public improvements described above, including curb, gutter, sidewalks and street improvements. 3. Upon receipt of such notice to furnish or construct the public improvement as required under the SUBDIVISION REGU- LATIONS of the City, Owner hereby agrees to construct and furnish at Owner's cost, such improvements as are required by the SUBDIVISION REGULATIONS of the City, and to do so in conformance with the design standards of the SUBDIVI- SION REGULATIONS of the City. 4. Owner agrees to construct, or cause to be constructed, all public improvements required hereby within 60 days of the receipt of the notice described in the preceding para- graph. In the event such public improvements are riot completed within such time, the City is hereby authorized to enter upon the Property, either by its employees or through agents, contractors, or subcontractors, and to complete the public improvements described herein, said completion to be accomplished at Owner's sole expense. Owner agrees to pay for all improvements so made within 30 days of the date of completion, Owner further agreeing that any amount resulting from his failure to pay for any improvement thus completed shall constitute a lien upon C:1::: P i loo u Development Agreement Page -2- the Property above described in the actual amount of the public improvements completed, less any payments made by Owner, plus interest on the amount unpaid at 10 percent per annum from the date of completion, plus any costs CZ incurred by the City in collecting same, including court costs and attorney's fees. 5. In the event an Improvement District or a Special Improve- ment District is created by the City to improve or provide those requirements as set out in the SUBDIVISION REGULA- TIONS for those streets or streets fronting the Property and the neighboring tracts of lands, the Owner or his assigns and successors agree not to oppose its creation, or subsequent assessment of the costs to the Property. 5. In the event an Improvement District is created by the City to provide the improvements as provided by the SUBDI- VISION REGULATIONS, the costs assessable against the Prop- erty shall not be disproportionate with costs assessable to other nearby and like properties. 7. This agreement is executed by the Owner pursuant to the SUBDIVISION REGULATIONS of the CITY OF WHEAT RIDGE. 8. The parties hereto agree that this DEVELOPMENT AGREEMENT, by its terms, shall be binding upon the City and the Owner and upon the assigns and successors thereof; and shall constitute covenants running with the Property. 9. The City, in its sole discretion, may require a cash or surety bond to be held in escrow by the City to secure completion of the public improvements described herein. Such cash or surety bond shall be in the sum sufficient to cover the estimated costs of the construction of the public improvements described herein, said estimate to be made at or about the time of the notice described in Para- graph 2 above. In the event the Owner fails to complete the public improvements within the time specified in Para- graph 4 hereof, the City may, at its sole option, complete or cause to be completed, said construction and use all, or any part of the cash or surety bond to pay for or cause to be paid, all bills and costs incurred in completing said public improvements. Any interest earned on any escrow funds shall be the sole property of the City. 10. The DEVELOPMENT AGREEMENT shall be recorded with the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the land, providing however, that this DEVELOPMENT AGREEMENT shall be released by the City upon the completion by the Owner of the public improvements described herein, which release shall be evidenced by a signed document attested to by the City Clerk and bearing the City's seal, which document shall likewise be recorded. SPECIAL PROVISIONS AND AGREEMENT: See Attachment "A" Development Agreement Page -3- IN WITNESS WHEREOF, the parties have set their hands and seals on date first shown. RECOMMENDED BY: Pub1c�Works Department City Administrator EXECUTED BY CITY: Commune _ Developmen w ent APPROVED AS TO FORM: Moyor, CCity of Wheat Ridge STATE OF COLORADO ) ) ss COU14TY OF JEFFERSON ) Cott' Attorney —`�-- ATTEST City Clerk` The foregoing instrument was acknowledged before me this - day of/�G� 19�� by My commission expire_ S EXECUTED BY OWNER: 1 " - `� STATE OF COLORADO ) )ss COUNTY OF JEFFERSON) No y Public ! —y 1 The foregoing instrument was acknowledged before me this day of ' >1 ��_� 19 by rY,cornrilisSon expires: - - c r 19 , I 1 Notary Public A � �Y ATTACHMENT "A" W I T N E S S E T H WHEREAS, Developer is the owner of real property described as a tract of land situated in the SE 1/4 of the SE 1/4 of Sec- tion 23, Township 3 South, Range 69 West of the 6th P.M. consist- ing of 5.25 acres, County of Jefferson, State of Colorado, a /k /a The Wilmore Center; and WHEREAS, Developer has obtained on /or about August 29, 1985, approval by the City of Wheat Ridge of an outline and final development plan and plat pertinent to the aforementioned pre- mises; and WHEREAS, the Planning Department for the City agrees that present traffic control facilities are adequate to accommodate the new traffic generated by this development, and WHEREAS, it is impossible to determine the amount of impact The Wilmore Center and /or other neighboring developments might have on traffic in the area in the future, and WHEREAS, the parties agree that should it be determined in the future that a traffic signal light is necessary at the 38th Avenue access to The Wilmore Center, the parties and other devel- opments in the general area shall jointly cooperate to finance the installation of said traffic signal light. NOW, THEREFORE, in consideration of the premises and in furtherance of the understanding and agreement of the parties with respect to the traffic impact at the intersection of 38th Avenue and the access to The Wilmore Center, said parties cove- nant land agree as follows: 1. The City shall cause to be made, a study of traffic at the intersection of 38th Avenue and the access to The Wilmore Center and /or other developments in the general vicinity. 2. The City shall determine the appropriate solution to any demonstrated problem after discussion with and input from any and all affected parties. 3. If said solution requires the installation of a traffic signal light, the City shall cause its engineer to prepare plans and specifications for such device and related appurtenances. The Developer agrees to cooper- ate and assist in the preparation of said plans and specifications. 4. The City shall obtain bids for the construction of the signal pursuant to the normal bidding practices of the City. The selection and supervision of one of the contractors bidding the project shall be the responsi- bility of the City. 5. The costs of the aforementioned traffic signal light, including engineering, inspection and testing costs, shall be apportioned between the Developer and other developers in the area, whose projects cause an impact upon 38th Avenue traffic as shall be determined by the City. 6. The aforementioned obligation of Developer herein shall not exceed a period of five (5) years. 7. The obligation of the Developer herein shall not exceed Fifteen Thousand Dollars ($15,000.00) and shall be paid upon completion of the traffic signal light installa- tion. 8. This Agreement shall be binding upon the heirs, succes- sors and assigns of the parties hereto. 9. All notices, demands, requests provided for or permit- ted to be given under this Agreement must be in writing and shall be deemed to have been properly given or served upon receipt as evidenced by registered or cer- tified mail, return receipt requested, at the following addresses: To Developer: CHARLES GOLDING, JR Southfield Park Towers, #(700 12835 East Arapahoe Road Englewood, Colorado 80112 CORPORON KEENE & HOENE 12835 East Arapahoe Road Tower One - Suite One West Englewood, Colorado 80112 To City: CITY OF WHEAT RIDGE Planning Department P.O. Box 638 Wheat Ridge, Colorado 80033 10. Developer agrees to construct an accel -decel lane on the west side of Wadsworth Boulevard along his frontage and the frontage of the two adjacent properties. This work to be completed within 30 working days after Notice to Proceed has been issued by the City. Working 17// day shall be constituted as a non - holiday weekday with good weather. The parties shall have the right from time to time and at any time, upon at least ten (10) days written notice thereof, to change their respective addresses.