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Home My WebLink About0134 RECEPTION NO. 81121002 -------.......... ( (3 I.f ) ~ DEVELOPMENT AGREEMENT ~ (" \d' THIS DEVELOPMENT AGREEMENT, as authorized by the SUBDIVISION REGULATIONS of the City of Wheat Ridge, is entered into this 28th day of AUGUST, 1987, between the City of Wheat Ridge, a Municipal Corporation, hereinafter referred to as City, and David A. F lageolle, hereinafter referred to as Owner, and concerns property located at 7050 West 38th Avenue, Wheat Ridge, Colorado. )\ ) 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 as follows: That part of the NW 1/4 NE 1/4 NE 1/4 of Section 26, Township 3 South, Range 69 West, City of Wheat Ridge, County of Jefferson, State of Colorado, described as follows: Beginning at a point on the North line of said Section 26, 946-1/3 feet West of the Northeast corner of said Section; thence South 403 feet more or less to a point on the North line of the Highway described in Book 310 Page 96, Jefferson County Records, being the true point of beginning; thence West along the North line of said Highway 88-2/3 feet; thence at right angles North 200 feet; thence at right angles East 88-2/3 feet; thence south 200 feet to the true point of beginning, (which property is hereinafter referred to as -the property'); and WHEREAS, Owner has been issued a building permit to develop the Property and is requesting a certificate of occupany; and WHEREAS, curb, gutter, sidewalk and street improvements bordering the Property and neighboring tracts of land are incomplete and/or below those standards as set forth 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: IMPROVE- MENTS 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 Agree- ment is hereby determined to be proper. NOW, THEREFORE, IT IS HEREBY AGREED THAT: 1. The responsibility for providing improvements along the street frontage of the Property, as set out in the SUBDIVISION REGULATIONS of the City, is hereby acknowledged by the Owner. 2. The Owner has caused certain improvements to be constructed on the property including a vehicle repair facility and associated parking and storage areas with frontage along West 38th Avenue. 3. The City has scheduled reconstruction and rehabilitation of this portion of West 38th Avenue in the current 5 year Capital Improvement Program. Plans for the construction are not complete at this time and the City anticipates minor changes in grade and alignment along the frontage of the Property which may necessitate removal and replacement of any constr'Jc" ion performed by the Owner. R 1"!"uED IN L 'IIN I { OF JEFFERSON S;HiL uF COLORADO RECEPTION NO. 87127002 10/13/81 14~4~ 12.00 (Page 1 of 4) 10;.1. \.,1. 1 1.1.""1'1 1'1"'1. ".,' I....' ........,.. 4. The City is requesting the Owner not install the required curb, gutter and sidewalk and necessary pavement repairs caused by installation of the curb and gutter until the plans and contract documents for the West 38th Avenue Improvement Project are complete. The Owner may opt to construct the curb, gutter and sidewalk with associated pavement repairs or elect to participate in the costs associated with the Improvement Project based upon the construction contract unit prices. r 5. The Director of Public Works will give written notice advising of impending construction and an estimate of costs of curb gutter and sidewalk and associated pavement repairs to the Owner 30 days prior to advertisement of any major improvements to West 38th Avenue which would affect the Property. The Owner shall have the opportunity to construct the required improvements with his own forces prior to award of a construction contract by the City or participate in costs associated with the City's construction contract. In the latter case, the Director of Public Works will submit to the Owner a detailed cost breakdown and billing after Award of the construction contract by City Council. The detailed cost estimate will include the Owner's portion of the cost of curb, gutter and sidewalk and pavement repairs necessitated by the construction of the curb and gutter and associated improvements along the Property frontage. 6. Upon receipt of the detailed cost estimate or billing, the Owner hereby agrees to pay to the City, within 30 days, the full amount of the detailed cost estimate or billing. The Owner also agrees to pay to the City any extra costs associated with the Public Improvements to the property due to variations in estimated Contract Quantities or as a result of change orders within 30 days of written request for payment by the City. The City will prepare a final cost for the Public Improvements and will pay to the Owner any overcharges paid by the Owner within 30 days after final acceptance and payment to the contractor for the Public Improvements. 7. Owner agrees to pay for all public improvements or billings so made within 30 days of written notice; Owner further agreeing that any amount resulting from his failure to pay for any improvement or billing this completed shall constitute a lien upon the property above described in the actual amount of the public improvement or billing completed, less any payments by Owner, plus interest in the amount unpaid at 10 percent per annum, from the date of final acceptance or billing, plus any costs incurred by the City in collecting same, including court costs and attorney fees. 8. 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. 9. In the event an Improvement District is created by the City to provide the improvements as provided by the SUBDIVISION REGULATIONS, the costs assessed against the property shall not be disproportionate with costs assessed to other nearby and like properties. This agreement is executed by the Owner pursuant to the SUB- DIVISION REGULATIONS of the city of Wheat Ridge. (Page 2 of 4) 10. 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. 11. The City, in its sole discretion, may require a cash or ~ surety bond to be held in escrow by the City to secure completion or 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 Paragraph 2 above. In the event the Owner fails to complete the public improvements wi thin the time specif ied 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 improvements. Any interest earned on any escrow funds shall be the sole property of the City. 12. 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 of the public improvements and complete and satisfactory payment by the Owner of all costs and fees associated therewith 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. 13. SPECIAL PROVISIONS AND AGREEMENT RECEPTION NO 1'71" " :, ';YOo~~ (Page 3 of 4) R~C~PTION NO. 87127002 IN WITNESS WHEREOF, the pa.rties have set their hands and seals on date first shown. RECOMMENDED BY: ~ UUrlt.;~ Public ~~r~~];~rt~ent ----,.', "-r/ i~r" ~ /' .........-'? C /'" /( City Adminis~rator y epartment /' EXECUTED BY CITY: '-'1"// /' K h "",{;{7;~ Mayor, City of Wheat Ridge ,""-'~'''''''~."-.-. ~ .'" .~ ~~at:J:I'Lf-/ -,.., /{>>"'-'~-' , t~:r:zr?,.~p 70...5(:) W3CZ~ ~ 1t:t~/' / ~, !?OtJJ3 ( i\~1;;~'\'-' , , .' :.,/ .::-... '. "0,-, ,..~.':.:;, ". G t:~ /: ~\:/' ......'au'...'.... ~ STATE OF COLORADO ) )ss COUNTY OF JEFFERSON) S~~L "i' faregain? instrument wa: aCknawle~~d bef",reme thi~_, of C;;/~ , 19~, by ~a. ?A .?~;S- , 195-'6 . / ,/' (~~~WO N' ary Public I "7 ;)-Uo 0', c:Ji?d a.~ VJ~~~ (~ 'I'he day My commission expires: I' 'f \ 1-, , c; , 'r ii ( (Page 4 of 4)