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HomeMy WebLinkAboutResolution-1997-1599 RESOLUTION NO. 1599 TITLE A RESOLUTION PROVIDING FOR ACCEPTANCE OF GRANT FUNDS FROM THE COLORADO CONSORTIUM FOR COMMUNITY POLICING AND AUTHORIZING A SUPPLEMENTAL BUDGET APPROPRIATION WHEREAS, the City of Wheat Ridge Police Department has been awarded a Colorado ConsortIUm for Commumty PoliCing Grant In the amount of$791 50; and WHEREAS, the funds from the grant Will be used to educate liquor licensees of retail liquor establishments, and WHEREAS, the Police budget will be Increased by the amount of $791 50 In account 01- 202-650-654 In order to pay for costs directly related to the grant. NOW, THEREFORE BE IT RESOLVED by the City Council of the City of Wheat Ridge, that the City accept the funds from the grant and approve a supplemental budget appropnatlOn and expenditure for the retail liquor license educatIOn program. DONE AND RESOLVED thiS 19th Day of May , 1997 , )) A-~JJJ ci___ Dan Wilde, Mayor ATTEST WHEREAS the portJun of sales tax revenue rece.Jved whIch exceeds the base amount (which portJon IS referred to as the "enhanced sales ta.x receIpts") represents ,1 SIgnIficant benefit to the Cltv, WHEREAS the purpuses of the ESTIP are served by enablmg pm'3te o\vners/developers to undertake and complete unprovements to publIc and publlc rebted aspects of the1T propertIes, WHEREAS O\\l1ers have I equested the CIty enter II1to tillS Agreement to enable Chvners to upgrade ti1C p\lbl1c and publIc related portlOl1S of thIS property, and has ,kmonstrated to the City that sH~mficant finanCIal benefits 111 the form of lIlcreased sale, ~ '. ta x revenues wIll accrue to the ('lty through unprovement of ti11S property; WHEREAS the partIes \\ Ish to set forth m full thelT ent1rc agreement regard1l1t'- tillS matter NOW THEREFORE the partIes, for themselves, thel[ heirs, successors and asslgIls (to ti1e extent assIgnment IS perrrutted as speCified herem) do hereby covenant, warrant, and agree as follows The partIes agree that Owners shall execute a ground lease with Walgreens, Inc so that Walgreens shall construct at least a 13,905 square foot buddl11g per attached bllJblt B, by ~"'-IE:: h~, 199f- z.s::,8no['-l. p-"S p<212--. fc.L CO"-.-l '{ ""'\~ q, (';,,~ .2~- o..J.. If Walgreen's, lnc does not construct such a retal! buildrng, then no sales ~ tax generated from tillS property shall be conSidered "enhanced sales tax receIpts" D{;? 1A (j{~., / r,J) ( ~'- I" I'{ I( ,I r,\. [ 2 The base figure for retaIl sales for tius property IS~ and that the base figure for retaIl sales Jaxes generated pnor to invokmg the proYlSlons oftlus Agreement I~~~ MQf(fH Ol( iF j\t? ~ For the purposes of th]s Agreement, tile present aggregate CIty sales la'. of 2 percent c;hali be used 111 calculatmg 'enhaI1ced sales tax receipt:;,' IrrespectIve of l\1crt::l.';C~, III such aggregate raLL after tile date hereof :\ Any amount of :;aks t:i)..CS generated from tillS property's bUSiness 1Il '2 excess of $23,705 shall constltute the "enhanced sales tax receipts" for purposes of tlus Agreement For the term of this Agreement, the partIes agree that "enhanced sales tax receipts" shall be shared 50% to the CIty, and 50% to Owner. The enhanced sales tax receipts shall be subject to dIviSIOn between the parties on the first day of the month followmg the Issuance of a Temporary CertIficate of Occupancy or Certificate of Occupancy Commencing on the Execution Date, Owners' 50% share of enhanced sales tax receIpts shall be escrowed in a separate account with the CIty and Owners shall be elIgible to receIve such funds upon completion of each separate improvement specIfied on Exhibit C, to the extent of the venfied expenditure for said item. In no event, however, shall this division of "enhanced sales tax receIpts" extend beyond ten (l0) years from the ExccutlOn Date or until Owners have received the amount of $390,000 from hIS 50% share of enhanced sales tax receIpts, whichever occurs sooner 4 The partIes spec1f'ically agree the $390,000 agreed to in paragraph 2 above shall be used solely for the purposes shown on Exhibit C, whIch IS attached hereto and incorporated herein, and for no other purpose. The CIty specIfically finds that said uses as listed on Exhibit C are publIc or public related uses, completion of WhICh are in the public's interest and will improve the property so as to make the property competitive, which shall mure to the benefit of the CIty, its residents, and Owners. By its approval and executIon of this Agreement as set forth in Paragraph 9 hereof, the CIty speCIfically approves the use of such funds for the purposes shown on ExhibIt C 5 Dunng the tenn of this Agreement, the City agrees that It shall, as it presently does, accowlt for sales tax receipts from businesses within this property separate from all other busmesses operated wItlun the CIty The City will W1dertake to collect all sales taxes due in the normal course of the City's operatIon. Monthly reports shall be submitted by the City to the CIty Council and to Owners relating to sales taxes received from commerCIal businesses withm thIS property Owners' 50% of "enhanced sales tax receipts" shall be paId to Owners on a monthly baSIS 6 The partIes agree that the base amounts of monthly sales taxes to be used m makmg the calculations contemplated herein is as set forth on Exhibit D 3 attached hereto and mcorporated by reference In the event that, in any month during the tenn of this Agreement, sales taxes received from busmesses wlthm this property are below the base amount, no further monthly payment of Owners' 50% of enhanced sales tax receipts shall be made until the cwnulative base amount has been attamed. 7 The parties specifically acknowledge that thiS Agreement does not create an obligation on the part of the City to answer for, or in anyway be responsible for, any debt of Owners. The only source of payment to Owners IS the percentage of the "enhanced sales tax receipts" described herem, subject to all the provisions of this Agreement. 8 ThiS Agreement may not be assigned unless by operatIOn of law or as a transfer to a successor or herr. Any other assignment shall be void and not bmdmg upon the CIty 11le only obligatIon of the CIty IS as set forth herem, and is due only to the parties specified herein 9 11us Agreement shall be effective only upon approval by the City Council of the City of Wheat Ridge, which approval shall be gIVen at a regular City Council meeting, and subsequent signature by the Mayor and Owners Prior to approval and execution as specified herem, no obligation shall be considered to be undertaken by either party hereto. 10 This Agreement constitutes the full and entIre agreement between the parties. All negotiations and discussions relating hereto are deemed merged mto, and superseded by, this executed Agreement. ] I In the event this Agreement IS challenged or ESTIP is challenged, the enhanced sales tax receipts to be shared shall be escrowed until said legal challenge has been resolved 12 The parties acknowledge that the terms and conditions of thiS Agreement do not constitute any reductIon in the amount of tax levied by the CIty against the subject property, and further that the tenus and conditIons of tins Agreement do not constitute any change In tax polIcy by the City of Wheat Ridge Any and all taxes which would nonnally be paid by the subject property shall contmue to be paId to the CIty of Wheat RIdge. The 4 terms and conditions of this Agreement are made solely as an inducement to economic development activity on the subject property and are not intended to serve as an amendment to any provisions of City, State or Federal codes and laws which would otherwIse apply to the property or to use of the subject property. Dated tills 15th day of April, 1997. OWNER: By: ~/ c',,; /? ./)_ ,/ Vemon D. V ohoska / / / /., ,,~ (.,...__ / /~".i, -' \ ' By: Marjorie 1. - ,,-."') '\ ' \ J \ ',~ ~, ~ \ -, . . ..........~_~ J" .,,;\I,'._'..j _ ~ oska CITY: TIIE CITY OF WHEAT RIDGE, a Colorado Home Rule Municipal Corporation By: Name':-.. Title: j' By: Name: Title: );)~'-<.._IV~0 )/:1' / --r, .1:...<- n--Z., .' // 5 EXHIBIT A PROPERTY DESCRIPTION VERNON D. VOHOSKA PROPERTY April, 1997 That portion of the SEl/4 NW1/4 of Section 23, Township 3 South, Range 69 West of the 6th P,M, County ofJefferson, State of Colorado, described as follows The South 280 64 feet of the East 10 acres of the SE1/4 NW1/4 of Section 23, Township 3 South, Range 69 West of the 6th P,M. EXCEPT the East 30 feet thereof; EXCEPT the South 30 feet thereof; EXCEPT that portion thereof described in Book 383, Page 1, and, EXCEPT that portion thereof described in Book 1210, Page 280, and; The South 252 feet of the West 226 feet of the East 556 feet of the SE 1/4 NW1/4 of SectIOn 23, Township 3 South, Range 69 West of the 6th P,M" EXCEPT the East 45 feet of the South 150 feet thereof. TOGETHER WITH that portIOn of the SE1/4 NWl/4 of Section 23, Township 3 South, Range 6<) West of the 6th P,M., described as follows. BEGINNING at a point on the South line of the NW1/4 of said Section 23, and 330 0 feet West of the Southeast comer of the NWl/4 of Section 23; thence West along said South line, 45 0 feet; thence North 150 0 feet; thence East 45 0 feet; thence South 150 0 feet to POINT OF BEGINNING, EXCEPT that portion of subJect property lYing within existing right-of-way for West 44th Avenue, along the South line, and EXCEPT any portion of subject property lYing within the East 10 acres of the Southeast 1/4 of the Northwest 1/4 of Section 23, Townsillp 3 South, Range 69 West of the 6th P.M. and nght-of- way for the Apel Seepage Ditch as disclosed by instrument filed in Ditch Maps Book 2 at Page 161 and existing utility lines or fixtures and any existing ditches not shown of record, EXHIBIT D ESTIP AGREEMENT 44th & WADSWORTH MONTH ACfUAL %OF MONTHLY ACfUAL PAYMENT CUMULATIVE BASE ANNUAL $ $ FIGURE 1998 AMOUNT $ AMOUNT January $ 1,520 6.41% $ 1,520 February $ 1,884 795% $ 1,884 March $ 1,778 750% $ 1,778 AprIl $ 1,715 7.23% $ 1,715 May $ 1,664 702% $ 1,664 June $ 1,789 7.55% $ 1,789 July $ 2,048 864% $ 2,048 August $ 2,033 857% $ 2,033 September $ 1,997 8.42% $ 1,997 October $ 1,723 727% $ 1,723 November $ 3,014 1271% $ 3,014 December $ 2,543 1073% $ 2,543 !'O I AL $ 23,705 100 00% $ 23,705