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HomeMy WebLinkAboutResolution-1997-1596 :r~-". r-', r.;" ...........'Ti< 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 Clt" 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 . . /r~" " ..!-..~ ~L 'L./<...>'d.~ Dan Wilde, Mayor ATTEST , ~:3t,u-~~t;,s; Wa;da Sang, City Clerl-