HomeMy WebLinkAbout2025 - RESO 41 - URA Loan AgreementCITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO. 41
SERIES OF 2025
TITLE: A RESOLUTION APPROVING A LOAN AGREEMENT WITH
RENEWAL WHEAT RIDGE IN THE AMOUNT OF $1,200,000 FOR
ACQUISITION OF PROPERTY AT 4593 PARFET STREET FOR
EXPANSION AND CONSOLIDATION OF THE PUBLIC WORKS
AND PARKS OPERATIONS FACILITIES
WHEREAS, a recommendation from the Facilities Master Plan is to co-locate and
expand the Public Works and Parks Operations Facilities at one site; and
WHEREAS, the recommended direction is to acquire a parcel adjacent to the
existing Public Works Operations Facility to make the expansion possible; and
WHEREAS, City Council entered into a contract to purchase property for $1,100,000 located at 4593 Parfet Street; and
WHEREAS, Renewal Wheat Ridge has approved a loan in the amount of $1,200,000
to assist the City in purchasing this property including appropriate due diligence and
closing costs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF CITY OF WHEAT RIDGE, COLORADO THAT:
Section 1. A Loan Agreement with Renewal Wheat Ridge, attached hereto as
Exhibit A, is approved.
DONE AND RESOLVED this 25th day of August 2025
Bud Starker, Mayor
ATTEST:
Margy Greer, Sr. Deputy City Clerk