HomeMy WebLinkAboutResolution-1998-1667
RESOLUTION # 1667
SERIES 1998
TITLE: A RESOLUTION REQUESTING JEFFERSON COUNTY TO ENTER
INTO A SUBORDINATION AGREEMENT WITH THE CITY OF
WHEAT RIDGE TO SUBORDINATE THE OPEN SPACE REVERTER
CLAUSE ON THE RECREATION CENTER PROPERTY TO THE
TERMS OF THE LEASE AGREEMENT WITH THE CITY OF WHEAT
RIDGE RECREATION CENTER FINANCE AUTHORITY FOR A TERM
NOT TO EXCEED 25 YEARS.
WHEREAS, The CIty of Wheat Ridge has deeded the property purchased for the RecreatIon
Center located at 40th and Klphng to Jefferson County and Jefferson County has
deeded the property back to the City of Wheat Ridge Via a COmnllSSlOners Deed
wIth an Open Space reverter clause mcluded, and
WHl:RLAS, The CltV llrWheat RIdge deSIres to lease the portion of the property which
contaIns the foot prmt of the buildmg, a mamtenance area around the buildmg
together wIth the Jomt use of the access and parkmg areas to the Wheat Ridge
RecreatIon Center Finance Authonty for the purpose of constructIOn the
RecreatIon Center; and
WHEREAS, The reverter clause will prohibIt the ground lease of the RecreatIon Center Site
located at 40th and Klphng to the City of Wheat RIdge Finance Authonty; and
WHERLAS, A legal descnptlon will be prOVIded to Jefferson County for the foot pnnt of the
buIidlllg and the shared parl."ng area,
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WHEAT RIDGE THAT
The CIty of Wheat RIdge request Jefferson County to enter in a subordmatlon agreement with the
Cay of Wheat RIdge to subordinate the Open Space reverter clause on the RecreatIon Center
Property located at 40th and Klplmg to the terms of the lease agreement with the City of Wheat
RIdge Finance Authontv for a term not to exceed 25 years
OUN~' ''''NO IU:SOI Vel) THIS 1st DAY OF June ,1-998
ATT !:.:) 'I'
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Wanda Sang, City Cleffi-"::::'