HomeMy WebLinkAbout2026 - RESO 02 - Lutheran TIF AgreementCITY OF WHEAT RIDGE, COLORADO RESOLUTION NO. 02 Series of 2026
TITLE: A RESOLUTION ADOPTING A FIRST AMENDMENT TO TAX INCREMENT REVENUE AGREEMENT BETWEEN THE CITY OF WHEAT RIDGE AND THE WHEAT RIDGE URBAN RENEWAL AUTHORITY DBA RENEWAL WHEAT RIDGE
PERTAINING TO THE LUTHERAN LEGACY CAMPUS URBAN RENEWAL PLAN WHEREAS, the City is a home rule municipality and political subdivision of the State of Colorado organized and existing under a home rule charter pursuant to Article
XX of the Constitution of the State of Colorado; and
WHEREAS, the City Council of the City (the “City Council”) established the Wheat Ridge Urban Renewal Authority dba Renewal Wheat Ridge (the “Authority”) on October 18, 1981, as an urban renewal authority pursuant to Colorado Revised
Statutes, Part 1 of Title 31, Article 25, as amended; and
WHEREAS, on June 24, 2024, the City Council adopted Resolution 32-2024
approving the Tax Increment Revenue Agreement between the City and the Authority; and
WHEREAS, on September 22, 2025, the Council adopted Resolution 46-2025
forming the Lutheran Legacy Campus Urban Renewal Plan; and
WHEREAS, the City Council has reviewed the First Amendment to the Tax Increment Revenue Agreement, as shown in Exhibit A, for a proposed Lutheran Legacy Campus Urban Renewal Plan area, has determined the same is in the best interests of the inhabitants of the City and wishes to approve the same.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat
Ridge, Colorado:
Section1. Amendment approved.
The First Amendment to Tax Increment Revenue Agreement, a copy of which is attached hereto as Exhibit A and fully incorporated by this reference, is hereby
approved, and the Mayor and City Clerk are authorized and directed to execute the
same.
Section 2. Effective Date.
This Resolution shall take effect immediately upon adoption.
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DONE AND RESOLVED this 26th day of January 2026.
Korey Stites, Mayor
Attest:
________ Onorina Maloney, Interim Senior Deputy City Clerk
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EXHIBIT A
FIRST AMENDMENT TO TAX INCREMENT REVENUE AGREEMENT BETWEEN THE CITY OF WHEAT RIDGE AND THE WHEAT RIDGE URBAN RENEWAL AUTHORITY DBA RENEWAL WHEAT RIDGE PERTAINING TO THE LUTHERAN LEGACY CAMPUS URBAN RENEWAL PLAN THIS FIRST AMENDMENT TO TAX INCREMENT REVENUE AGREEMENT (the “Amendment”) is made and executed effective as of the 26th day of January 2026, by and between the WHEAT RIDGE URBAN RENEWAL AUTHORITY DBA RENEWAL WHEAT
RIDGE, a body corporate and politic of the State of Colorado (the “Authority”); and the CITY OF WHEAT RIDGE, COLORADO , a Colorado home rule municipality (the “City”). AUTHORITY and the District are referred to herein individually as a “Party” and collectively as the “Parties.”
RECITALS
WHEREAS, the City Council of the City of Wheat Ridge, Colorado (the “City Council”) established AUTHORITY on October 19, 1981;
WHEREAS, the Parties entered into that certain Tax Increment Revenue Agreement effective June 24, 2024 (the “Agreement”); and
WHEREAS, capitalized terms used herein but not otherwise defined herein shall have the
meanings provided to such terms in the Agreement;
WHEREAS, the City Council approved and adopted an urban renewal plan known as the Lutheran Legacy Campus Urban Renewal Plan (the “Plan”) on September 22, 2025;
WHEREAS, the Parties desire to amend the Agreement pursuant to this First Amendment so the dates in the Agreement correspond with the dates in the Plan.
AGREEMENT
1. Incorporation of Recitals. The foregoing recitals are incorporated into and made a part of this Agreement.
2. Amendment to Section 2.8 of the Agreement. The following definition in Section 2.8 of the Agreement is amended and restated in its entirety as follows:
2.8 “Duration” means the 25-year period that the tax increment or tax allocation provisions will be in effect as specified in §31-25-107(9)(a) of the Act and the Plan. Pursuant to the Act, the base year for calculating Property Tax Increment Revenues is 2024. The last year the assessment roll will be divided for purposes of TIF is 2050 and the last year the Authority is eligible to receive
Property Tax Increment Revenues from the Plan area is 2051.
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3. Prior Provisions Effective. Except as specifically amended hereby, all terms and conditions of the Cooperation Agreement shall remain in full force and effect.
4. Execution in Counterparts. This First Amendment may be executed in several
counterparts, each of which shall be deemed original and all of which shall constitute but one and the same instrument.
IN WITNESS WHEREOF, the Parties hereto have caused their duly authorized officials to execute this First Amendment effective as of the day and year first above written.
WHEAT RIDGE URBAN RENEWAL AUTHORITY, DBA RENEWAL WHEAT RIDGE a body corporate and politic of the State of Colorado
_____________________________________ Julianne Stern, Chair ATTEST:
_____________________________ Steve Art, Executive Director, CITY OF WHEAT RIDGE, a Colorado home rule
municipality
Korey Stites, Mayor
ATTEST:
________________ ______ Onorina Maloney, Interim Senior Deputy City Clerk