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HomeMy WebLinkAboutResolution-1992-1291 RESOLUTION NO. 1291 SERIES OF 1992 TITLE: A RESOLUTION OF THE CITY OF WHEAT RIDGE AMENDING THE WHEAT RIDGE TOWN CENTER PROJECT URBAN RENEWAL PLAN, AS ADOPTED BY RESOLUTION 1053, SERIES OF 1987. WHEREAS, the City Council of the City of Wheat Ridge has adopted Resolution 1053, Series of 1987, approving the Wheat Ridge Town Center project Urban Renewal Plan; WHEREAS, the city Council of the City of Wheat Ridge has determined that the most expeditious and proper manner of obtaining the results called for in said Urban Renewal Plan shall result from enactment of certain nonsubstantial amendments of said Urban Renewal Plan; WHEREAS, the City Council of the City of Wheat Ridge, at a public hearing held on this date of May 11, 1992, has considered the amendments proposed herein, all of which nonsubstantial amendments relate to powers possessed by, and/or which are able to be utilized by the Economic Development and Revitalization Commission (EDARC) of the City of Wheat Ridge; WHEREAS, the City Council of the City of Wheat Ridge, in enacting the nonsubstantial amendments set forth herein, hereby reaffirms those Findings of Fact set forth in Resolution 756, Series of 1981, Ordinance 467, Series of 1981, and Resolution 1053, Series of 1987, all of which have been previously adopted by the Wheat Ridge city Council; WHEREAS, the City Council of the City of Wheat Ridge states its intent in adopting this Resolution is solely to regulate the utilization of powers possessed by EDARC, and to provide for coordinated use thereof, and not to render EDARC or the City Council incapable of fulfilling the goals and objectives set forth in the previously approved, and hereby amended, Urban Renewal Plan. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat Ridge, Colorado, as follows: 1. The Wheat Ridge Town Center Project Urban Renewal Plan, as adopted on December 14, 1981, by Resolution 756, Series of 1981, and as modified on October 12, 1987 in Resolution 1053, Series of 1987, is hereby amended as follows: A. Activity; reenacted Section IV.E.1, Urban Renewal Plan; Project Powers of the Authority, is hereby repealed and as follows: "Except as provided, or as limited, herein, the Economic Development and Revitalization Commission shall have all of the powers granted to an urban renewal authority under the provisions of the Urban Renewal Law of the state of Colorado, Part I of Article 25 of Title 31, Colorado Revised statutes. Notwithstanding the foregoing, EDARC shall exercise each or any of the powers set forth in this section IV.E., Subsections 1 through 6 inclusive, only upon the prior approval by a majority of those members of the Wheat Ridge City council present and voting at a regular or special city council meeting." B. section IV. F. , Financing, hereby amended introductory statement: Urban Renewal Plans; proj ect by the addition of the following "F. Project Financing. Subject to prior approval by the majority of those members of the Wheat Ridge City Council present and voting at a regular or special city council meeting, EDARC may utilize any, all, or a combination of the following financing mechanisms in implementing the Project as herein defined: . . ." C. until the effective date of abolishment of EDARC, no tax increment or other funds in the possession of EDARC shall be expended or otherwise distributed except upon proj ects , or pursuant to contracts, or pursuant to budgets, which have been approved by a majority of the members of the Wheat Ridge City Council present and voting at a regular or special city council meeting. 2. Except as amended herein, the provisions of the Wheat Ridge Town Center project Urban Renewal Plan adopted by Resolution 1053, Series of 1987, shall remain in full force and effect without amendment, the same being specifically ratified and affirmed hereby. DONE AND RESOLVED this 11th day of Mav , 1992. .' '- ~..t" .,' ATTEST: I / Wanda 2 - - INTERGOVERNMENTAL AGREEMENT THIS INTERGOVERNMENTAL AGREEMENT made and executed this 14th day of 1111 y , 1992, by and between the city of Wheat Ridge, Colorado, a Colorado home rule municipal corporation (hereinafter referred to as the "city") and the Wheat Ridge Economic Development and Revitalization Commission, an urban renewal authority lawfully organized, authorized and existing pursuant to the Colorado Urban Renewal Law (hereinafter referred to as "EDARC"). WHEREAS, the City Council of the City of Wheat Ridge, Colorado, by the adoption of Ordinance No. 467, Series of 1981, established an Urban Renewal Authority within the City of Wheat Ridge, which Urban Renewal Authority is known as EDARC; WHEREAS, the City Council of the City Colorado, by the adoption of Resolution No. adopted an Urban Renewal Plan for the Wadsworth is also known as the Wheat Ridge Town Center; of Wheat Ridge, 756, Series 1981, Town Center which WHEREAS, said Wheat Ridge been modified by Resolution Resolution No. 1291, Series of Town Center No. 1053, 1992 ; Urban Renewal Plan has Series of 1987, and WHEREAS, it is the intent of the parties that the City sales tax generated by any project within the Wadsworth Town Center shall be dispersed according to an amended Urban Renewal Plan which may provide that no sales tax increment is captured; WHEREAS, the City and EDARC wish to set forth in full their agreement and understanding regarding the level of cooperation to be exercised by the respective entities in the completion and fulfillment of the goals, objectives, and projects of the Wheat Ridge Town Center Urban Renewal Plan, as amended. NOW THEREFORE, the parties, for themselves, their heirs, successors, and assigns, do hereby covenant and agree as follows: 1. EDARC acknowledges that, pursuant to the Colorado Urban Renewal Law, the City of Wheat Ridge possesses the authority to adopt, and thereafter amend in compliance with the Colorado Urban Renewal Law, an Urban Renewal Plan, which Plan shall govern the activities which EDARC may lawfully undertake. 2. EDARC specifically agrees that it shall continue all of its efforts, in cooperation with the Mayor and city Administrator of the City, to negotiate a redevelopment plan for the Wheat Ridge Town Center. To that end, the parties acknowledge that the coordinated negotiation of redevelopment agreements and property acquisitions within said Urban Renewal Area is necessary to protect the interests of the city, EDARC, and the residents of the city. In order to facilitate a coordinated approach to working with development interests, the parties agree that a negotiating oversight committee shall be designated, which negotiating oversight committee shall include the Mayor and a city Council member as the representatives of the City, and such representatives from EDARC as shall be appointed by EDARC. All information disclosed to such committee shall, to the extent the same may be lawfully so treated, be confidential. 3. During the term of this Intergovernmental Agreement, EOARC agrees that it shall: (a) incur no indebtedness; (b) obligations or of any sort or not issue, or contract to agree to issue, any bonds, enter into other obligating financial arrangements description whatsoever; and (c) not expend any tax increment or other funds in its possession, or which may come into its possession, nor shall such funds be otherwise distributed except in compliance with the Colorado Urban Renewal Law, and except upon projects, or pursuant to contracts, or pursuant to budgets, which have been approved by a majority of the members of the Wheat Ridge City Council present and voting at a regular or special City Council Meeting. Council's approval of EDARC's annual budget and amendments thereto shall be in a manner similar to Council's approval of the budgets of City departments. 4. EDARC and the city specifically agree to jointly develop, on or before July 31, 1992, a list of projects and project elements, all contained within and authorized by the approved Urban Renewal Plan, upon which tax increment and other funds in the possession of EDARC may be expended, which elements might include, without limitation and without guarantee or expectancy that the following might be ultimately agreed upon, construction of acceleration/deceleration lanes as called for in the approved plan, possible purchase of identified properties within the approved Urban Renewal Area. 5. EOARC agrees that it shall not exercise, or attempt to exercise, the power of eminent domain for urban renewal projects unless said exercise of eminent domain has been approved by the City Council. Such approval to utilize the powers of eminent domain shall include a designation of the property, or interest in such property, which is sought to be acquired. To the extent permitted by the city's home rule Charter, and until final action is authorized, any information disclosed regarding the exercise, or attempt to exercise, the power of eminent domain shall be 2 confidential and only discussed in an executive session of EDARC or city Council. 6. The parties specifically acknowledge that all monies currently in possession of EDARC, and all monies which shall come into the possession of EOARC hereafter, shall be spent in strict compliance with the provisions of paragraphs 3, 4, 7 and 10 of this Intergovernmental Agreement, and in compliance with the Colorado Urban Renewal Law. 7. Pursuant to the provisions of Article IX of the Cooperation Agreement between the parties of October 26, 1987, EDARC hereby agrees to reimburse the city in the amount of $90,000.00 at the time of execution of this Intergovernmental Agreement. EDARC agrees to pay annually any additional accrued amount pursuant to the Cooperation Agreement. 8. The city agrees to appoint a city official, which City official shall be nominated by the Mayor and ratified by a majority of those members of the City Council of Wheat Ridge present and voting, which member shall serve as an ex-officio member of EDARC. 9. EDARC agrees that it shall exercise each or any of the powers set forth in section IV.E., subsection 1 through 6 inclusive, of the Wheat Ridge Town Center Project Urban Renewal Plan, as amended, only upon the prior approval of a majority of those members of the Wheat Ridge city council present and voting at a regular or special city Council Meeting. 10. The parties agree that EDARC shall advise the City Council no less than bimonthly (i.e. August 1, 1992; October 1, 1992, etc.) of its activities and of the status of negotiations regarding potential redevelopment of the Wadsworth Town Center, City council, without waiving any of its powers under C.R.S. 31- 25-115, agrees to review the status of EDARC at those times; provided, however, that EDARC may, prior to said date, petition the city Council to abolish EDARC pursuant to the Colorado Urban Renewal Law if, in EDARC's good faith opinion, utilization of EDARC's powers is either unnecessary or not likely to be required in completion of such redevelopment. Any abolishment of EDARC shall be accomplished in strict compliance with the provision of C.R.S. 31-25-115. Upon City council's action which commences the abolishment of EOARC, EOARC may incur winding-up costs (which may include, without limitation, fees and costs for audits, final publication requirements, administrative costs and salaries, etc.) and pay all just debts which may include monies held by EOARC pursuant to contracts with either the City or private parties. 3 11. The City Council agrees that it shall adopt a Resolution adopting the provisions agreed to herein as an amendment to the Urban Renewal Plan, which Resolution shall supersede Resolution 1291, Series of 1992. THE CITY OF WHEAT RIDGE COLORADO EDARC ~ BYJO~~W' Chair 4