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Home My WebLink About0106 CITY RIDGE OF WHEAT To Tom Palmer, City Admin, Subject Development Agreement Approved - MEMORANQUM , (,; , I I 1\ \ l, \, I ,-' ../ From , r Rodger O. Y~ung, , "--' June 1'9'-;'-1981 .......' " 14" ' 1. ' \D . p, \oJ, '< Date Date Attached herewith is a development agreement for curh, gutter, and sidewalk at 2890 Reed Street on property owned by Edward H. & Mark S. Boone. Inasmuch as there is no existing curh, gutter, and sidewalk in the area, we asked to have this Agreement executed. ROY:vab Att. - ---- ~/D~06g~ 8/06060' -; 1981 I\,UG I 9 AH 1Q:~3 @ b o q. County of Jeff e,son Stat! of Cc DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT, as authorized by the SUBDIVISION REGULATIONS of the CITY OF WHEAT RIDGE, is entered into this 16 day of June , 1981, between the City of ~:heat Ridge,-a- Municipal Corporation, hereinafter referred to as City, and Ed\vanl H. & }lark S. Boone , hereinafter referred to as Owner, and concerns property located at 2890 "eed Street ~heat Ridge, Colorado 80033 1__3 WIT N E SSE T H . 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 .Tune 16, 1981 to do so; and WHEREAS, curb, gutter, sidewalk and street improvements boarding 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 r.on-completion of those improvements as required by SECTION FIVE: IMPROVEMENTS of the SUBDIVISION REGULATIONS will make no significant change at the present in those streets fronting 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. Nmv, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for meeting, conforming to and providing those requirements as set out in the SUBDIVISION REGULATIONS of the Cit~ is hereby recognized by Owner. 2. The Director of Public Works, upon the direction of the Mayor or the City Administrator, shall give written notice directj_ng the Owner or his assigns and successors to meet those require- ments as set out in the SUBDIVISION REGULATIONS of the City and to construct public improvements described above, incl~ding curb, gutter, sidewalks and street improvements. 3. Upon receipt of such notice to furnish or construct the public improvement as required under the SUBDIVISION REGULATIONS 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 SUBDIVISION REGULATIONS of the City_ 4. Owner agrees to construct, or cause to be constructed, all pub]ic improvements required hereby within _~~ duys of the date of receipt of the notice described in the preceding paragraph. In the event such public improvements are not completed within such time, the city is hereby authorized to enter upon the Property either by its employees or through agents, contractors, or sub- contractors, and to complete the public improvements described 81050688 herein, said completion to be accomplished at Owner's sole expense. 2- 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 the Property above described in the actual amount of the public improvements completed, less any pay- ments made by Owner, plus interest on the amount unpaid at 10 percent per annum from the date of completion, plus any costs incurred by the City in collecting same; including court costs and attorney's fees. 5. In the event an Improvement District or a Special Improvement District is created by the City to improve or provide those requirements as set out in the SUBDIVISION REGULATIONS 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. 6. In the event an Improvement District is created by the city to provide the improvements as provided by the SUBDIVISION REGULATIONS, the costs assessable against the Property shall not be dispropor- tionate 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 requlre a cash or surety bond to be held in escrow by the City to secure completion of the public improvements described herein. Said cash or surety bond shall be in a 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 paragraph 2 above. In the event the Owner fails to complete the public improvements within the time specified in paragraph 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 improve- ments. Any interest earned on any escrow funds shall be the sole property of the City. 10. This DEVELOPMENT AGREEMENT shall be recorded with the Clerk and Recorder of Jefferson County, Colorado, and shall constitute a continuing covenant running with the land; provided, 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: Owner shall install curb, gutter, and sidewalk at 2890 Reed Street and along ,,'est 29th Avenue, -, 2 - 81060688 IN WITNESS WHEREOF, the parties have set their hands and seals on ~ date first shown, ~ RECOMMENDED BY: Publi ,---,' ~i~~>\--~-- \.\ '\ , '-~' ~' C~ii'llm1...l2ity ~nt Department APPROVED AS -, ~~, / " ) Y J\ CY) / ~ , iJ c::. > . .0 <t~1:, --f:"'1.V1>.-' ~, 1~~City Administrator t "I w:'.Ii>. .-7 .. City Attorney EXECUTED BY OWNER: EXECUTED BY CITY: - /-'- , ,1<: ,,' (,:, /" C,"" 7{ ( '. I ~f /" . ,--- (-':-(~>/ c' ; /' .-7~~/ - ~~ '; , ~-~ -> '- "-- ~' , .~.:..t /~." , ~".{..'1flt~~#f' ".-.' .~ Mayor, Cit:y of W ea7.'<J~id~ :I..:'.'~ :"::':..:.'t.~t::\ ATTESTED TO BY: ..~; '<':~:t~':1 " .. it"'>- , '~r' ~$"'1J4/,.f It City ClerkL--'/ !'~r&;;; . ",'1;;':'/1. " \'-:'~~ 'F' -.: \"'., - , '1/ctf I , ~~,.... '-,~ C.-I L, j I < , " '- / / II' STATE OF COLORADO ) ) ss. COUNTY OF JEFFERSON ) The foregoing instrument was executed before me this 18th day of ~1ay , 1981, by Edward H. Boone and Mark S, Boone My co~~ission expires: February 4, 1985 , > I;':' I ~',' ~ ~ J , A' r:"" ,:i .",,' J"~ft '-~~,- " -- ~') \. ..~t.' ,. ~ ..,:..,...... ',,~ ~... ;: .: ,,'- \ R'\' .... ~( ~ ',1 f' .. ("It"o-oO ~ " ~:., ,. ~""'^; : 1":--. \$1', 1..' U n'j r\.,c;'.' . \. 0,.".. F. '~';".1 ,,' 1::- "....... '. - ,~ \.:j ~:' ,.." Z)"L " /, " - ' Notary Public - 3 -