HomeMy WebLinkAboutIves II - Development Covenant AgreementIIIIIIIIIIIIIIII!IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 0
2026009198
02/12/2026 02:01:19 PM 9 Page(s)
JEFFERSON COUNTY, Colorado
DEVELOPMENT COVENANT AGREEMENT
THIS DEVELOPMENT COVENANT AGREEMENT is made as of
the 10'1'�' day of Febtka , 2026 by and between the CITY OF WHEAT
RIDGE, COLORADO, a home rule municipal corporation (the "City"), and
JEFFERSON COUNTY HOUSING AUTHORITY, (the "Applicant"), together
referred to as the "Parties".
RECITALS
A. The Applicant is the owner of certain real property located in the City of
Wheat Ridge.
B. The City of Wheat Ridge approved the Final Plat for the Property titled The
Ives Subdivision (the "Subdivision") on Ftlx±nn to , 2026. The
Subdivision creates Lots 1 and 2. A copy is attached hereto as Exhibit B, and
incorporated herein.
C. The Wheat Ridge Code of Laws requires Public Improvements in
association with approved subdivisions, and right-of-way dedications for such
improvements are provided on the Final Plat.
D. Public Improvements have already been installed abutting Lot 1 of the
Subdivision and additional improvements abutting Lot 1 are not required, so
therefore Lot 1 is neither subject to nor encumbered by this Agreement.
E. The Applicant will be responsible for the future installation of the Public
Improvements abutting Lot 2. Lot 2 is subject to this Agreement which is more
particularly described in Exhibit A and made a part hereof (the "Property").
The Property's associated Public Improvements are subject to review and approval
of civil construction plans by the City, herein referred to as the "Final Plans."
F. The Parties understand and agree that the intent of this Agreement is to
establish the obligations and expectations for future development of the Property
in accordance with the Final Plans.
AGREEMENT
NOW, therefore, in consideration of the mutual promises, covenants and
agreements of the Parties, the approval of the Final Plans by the City, the
dedication of certain land and/or easements to the City and other good and
valuable consideration, the receipt and sufficiency which is acknowledged and
confessed, the Parties hereto agree as follows:
1. Compliance with Final Plans: The entity which develops the Property
("Developer") consistent with the Final Plans, whether the Applicant or a successor
or assign of the Applicant, shall be required to comply with all applicable sections
of Chapter 26 of the Wheat Ridge Code of Laws. The Developer shall also furnish
all financial guarantees required for development of the Property by the
Community Development Director.
2. Binding Effect, Term: The terms of this Agreement shall be a covenant
running with the Property and shall remain in full force and shall bind the Property
and the successor and assigns of the Parties until such time as the Developer
executes a Subdivision Improvement Agreement or Public Improvement
Agreement, whichever is applicable, (herein referred to as "Future Agreement") in
preparation for development of the Property. The executed Future Agreement shall
replace this Agreement in its entirety and shall bind the Developer to complete all
required on- and off -site Public Improvements as shown on the Final Plans as
approved by the City of Wheat Ridge Community Development Director, including
but not limited to improvements -to 44th Avenue (6-foot detached sidewalk and 6-
foot landscaped amenity zone, streetlights, and pedestrian lights) and Vance
Street (5-foot attached sidewalk and potential undergrounding or relocation of
existing overhead facilities). Once a Future Agreement has been approved by the
City and recorded with the Jefferson County Clerk and Recorder, this Agreement
shall be considered thereby released and terminated.
3. Sale of Property: No sale of the Property as described in Exhibit A may
occur until such time as a Future Agreement has been executed. This paragraph
shall not prevent the Applicant from conveying the Property to an owner or LLC
managed by the same ownership authority as the Applicant.
4. Issuance of Building Permits: The City shall not issue any building permit
for the Property until an approved Future Agreement has been executed by the
City and the then -owner of the Property. Building permits for the Property may then
be issued by the City conditioned upon compliance with all terms listed in the
Future Agreement.
5. Fees Associated with Development of Property: All building permit fees,
review fees and security for construction of on- and off -site public improvements
shall be paid by the Applicant, or in the event the Property is conveyed, by the
Developer who executes the Future Agreement. The Applicant shall not be
responsible for the payment of such fees unless the Applicant executes the Future
Agreement as the Property Developer.
6. Recording: This Agreement shall be filed for record with the Jefferson
County Clerk and Recorder, the fees for which shall be paid by the Applicant.
-2-
CITY OF WHEAT RIDGE, COLORADO
By:
Korey es, Mayor
ATTEST:
i
i
Onorina Z. Mal . e nteri ' Sr. De City Clerk
-3-
APPLICANT
Jefferson C oun Housing Authority
By:
i
��r,lr:9i1aflexi1V_1plwl
SS.
COUNTY OF )
The foregoing instrument was acknowledged before'me this 9 day of
2Qa I , by
CAD
Witness my hand and official seal.
My commission expires: a — N - aln
MARY L BARNER
NOTARY PUBLiC - STATE OF COLORADO
NotaryID #20184007194
M Commission Expires 2/17/2026
(SEAL)
Notary Pu 1 ,
-4-
, as
EXHIBIT A
Legal Description of the Property
LOT 2, THE IVES SUBDIVISION, CITY OF WHEAT RIDGE, COUNTY OF
JEFFERSON, STATE OF COLORADO
-5-
EXHIBIT B
Final Plat
(see attached)
s3
dill
qaE.
Niv-
f'R ff".i eNOW
!a 11 $ggq9
��
�cal W iY�"! R
3�g"3= W�iWa
f
a
x
33r
Z rho U°I i3 z
;� Y it IgM, Hj
HI
/O vvNam i gYE`� yp
Ni YAW"€a
§6 o 5 Cdk
q S�
moio � p��46Y �'�$YY� �§
zoo w Rc• Y.i ; ga
air! 'Mill
cri wo c
owrc
ujz NQrQ
WUE
O C W 6 5wLL u � �Z �S gg
U `� yFySfip y�/gQy �
QQ uF3MI.
L
Hip
Rg
Q
J
r
a � �! I:_
Rr
R 9e ¢t� a if g yggg
! a« Hb qg if (E
� Z3a �g#g 3. 2�$1y�
diIM"F IFI tE yj
�Fv e�R3.4�a
m '
' J
n 11 il:y�Oa+.. °ud if d
W I I �6 fi e 5
II
I
I
i
a
m
0-0
o
I
I
I
yypg
F
Z 0.0
[p
9
wbLL
C SI
�O
V/ U=w
¢y
>
g
< -o
M
W YNIu
bl
j
--------
el
k��I
I
Ir`Wy
Nm41}O
z
v/ ENO
dal
I
5 c
U
o Z
�LLUOo.
x
E4
�t
Ft Ik
r m Z OW
a [ F
I
: I
I
I
I
i
I
II �
1IR
I(yI `I
RBI
I
I I I
I
I
I
— — — — — — ---
�!Ejit9
x
Y�n�ryy.
bi
I
lybi�°
I
—
i
I
L33VIS 3ONVA
I
3ip
--
I
lE'SC1u 390.11.00a
I
ILI,/�
�/I
i
I
I
pL
` �Y
—
y
S '-
w
�� ��Rg �yk •t�
r aSR ya` i �i
I
I
I
�
aavn3Inoe lunoMsavm
�®•
lL ._
I
�3�•
k
4{4�
_--------
-----
----
�tft a aaE
-p d Z4I
tt.
�ppea: :�fl
S'g
Wr [ FF
.... .. _ .. ... $ e W
aZI
W
E N
a
U
Q
U
pq wR
Z
=mom w
z-
No. m
all
0.
GM p� o.
.. • LL YU
O�WO
JdN�.n
ino��w
`Wo ,I
J o".° ri
I aop
� Oy$
W
mZ�
za
--------------
zw
1~U
w
Vl
C
'
__—ggyiii •.....
_
Q
6
IpgL
a: