HomeMy WebLinkAboutResolution-1997-1596
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RESOLUTION NO. \S~ <0
TITLE:
A RESOLllTION APPROVING AN ESTIP AGREEMENT WITH AMB
RETAIL INCOME FUND AND GENERAL MANAGEMENT COMPANY
FOR THE REMODEL OF A PORTION OF THE APPLEWOOD
VILLAGE CENTER.
WHEREAS, the City of Wheat Ridge has established an Enhanced Sales Tax Incentive
Program, the purpose of which IS to encourage substantial expansIOn of retails sales tax
generating businesses wltilln the City, thereby stimulating the economy of the city;
WHEREAS, AMB Retail Income Fund and General Management Company are the real
property owners of Applewood Village Center in Wheat Ridge, Colorado and deSire to redevelop
their real property thereby expanding the retail sales tax generatIng bUSInesses, and
WHEREAS, the CIty of Wheat Ridge benefits from Increased retail sales tax generating
bUSinesses by increaSIng the sales taxes collected by the CIty which Increased sales tax collectIOn
WIll enable the City to proVide expanded and Improved mUniCipal services to and for the benefit of
the reSidents of the City; and
WHEREAS, AMB Retail Income Fund and General Management Company will construct
public or quasi public-related Improvements at no cost, or at a deferred cost, to the City and ItS
taxpayers and reSidents by Improving the traffic circulation of the pnmary shopping area in the
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NOW, THEREFORE BE IT RESOLVED BY THE WHEAT RIDGE CITY COUNCIL THAT
The attached ESTIP Agreement with AMB Retail Income Fund and General Management
Company IS hereby approved
2
3 The Mayor and City Council are hereby authorized to execute the ESTIP agreement In
conformance with the reqUirements of the ESTIP program as stated In SectIOn 22-83 of
the Wheat RIdge Code of Laws.
DONE AND RESOLVED THIS 28thdayof April
, 1997
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Dan Wilde, Mayor
ATTEST ,
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Wa;da Sang, City Clerl-