HomeMy WebLinkAboutResolution-2007-0044
CITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO. 44
Series of 2007
TITLE:
A RESOLUTION APPROVING AN AMENDMENT TO THE
INTERGOVERNMENTAL AGREEMENT BETWEEN THE
CITY OF WHEAT RIDGE AND THE WHEAT RIDGE URBAN
RENEWAL AUTHORITY.
WHEREAS, the City of Wheat Ridge, acting through its City Council has created the
Wheat Ridge Urban Renewal Authority (the "Authority"); and
WHEREAS, the Authority has administered the urban renewal area known as the Wheat
Ridge Town Center Area ("Town Center"); and
WHEREAS, projects in the Town Center have generated sales tax revenues, referred to
by the City and the Authority as the "sales tax increment" for use by the Authority on projects
therein; and
WHEREAS, the Colorado Urban Renewal Law, C.R.S. S 31-25-112, authorizes the City
and the Authority to enter into agreements to cooperatively undertake all aspects of the
administration and operation of urban renewal areas, plans and redevelopment projects within
the City; and
WHEREAS, the City and the Authority entered into an Intergovermnental Agreement as
of June 26, 2006 (the "Agreement") under this enabling authority, pertaining to the allocation of
the sales tax increment derived from the Town Center project and the sharing of resources
relating to services, equipment and personnel; and
WHEREAS, the City and the Authority desire to amend the sales tax increment allocation
provisions in the Agreement by deleting subsection 3.C.3 thereof, and thereby deleting the
$100,000 annual limitation on the amount of the portion of the sales tax increment payable to the
Authority; and
WHEREAS, the City and the Authority also desire to extend the sales tax increment
allocation provisions in the Agreement until December 31, 2014 by amending subsection 3.C.5
accordingly;
NOW, THEREFORE, BE IT RESOLVED by the Wheat Ridge City Council, that the
Intergovermnental Agreement between the City and the Wheat Ridge Urban Renewal Authority,
entered into as of June 26, 2006, is hereby amended, as set forth on the attached Exhibit A, and
the Mayor and City Clerk are authorized and directed to execute the same.
DONE AND RESOLVED this 22nd day of October, 2007.
tJJJfMlt
Je1DJdullio, Mayor
ATTEST: V
~~
Michael Snow, City Clerk
Published:
October 25,
,2007
Wheat Ridge Transcript
EXHIBIT A
Amendment to Intergovernmental Agreement of June 26, 2006
[Attached]
Amendment to Intergovernmental Agreement of June 26, 2006
This Amendment ("Amendment") is entered into, as of the 22nd of October, 2007,
between the City of Wheat Ridge, Colorado (the "City") and the Wheat Ridge Urban
Renewal Authority (the "Authority"), together referred to as the "Parties" to amend that
certain Intergovernmental Agreement entered into by the Parties as of June 26, 2006
(the "Agreement").
In consideration of the mutual promises and covenants contained herein and in
the Agreement, the receipt and sufficiency of which are acknowledged, the Parties
hereby amend subsection 3.C of the Agreement, entitled Sales Tax Increment
Allocation to read as follows:
3. Wheat Ridae Town Center Sales Tax Increment
C. Sales Tax Increment Allocation
The Parties agree that the Town Center Project sales tax increment, as
defined at Section 3.A hereof, shall be allocated between them as follows:
1. For all sales after January 1, 2006 irrespective of actual sales tax
receipts, the City shall retain an amount equal to the sales tax receipts
attributable to the Safeway store for the period November 1, 1994 through
October 31,1995.
2. After accounting for this retainage, the City and the Authority shall
each receive 50% of the remaining sales tax increment from the Wheat Ridge
Town Center Project.
., Tr.e rr.cxHT.;J1T. :a!as-by. i~:roment f-or the Wh~:lt q;dge Town
Center Project paid to the J\"~;'''r:~Y E:hall not exceed $100,00f: ir. a-r,~' fiE:cal year.
The /\uthority': :~~,~ Sf T'Jwn Cent'?' :?J'JE: tax incrom'?~ts :~?JI 1'Jt exceed that
figtH=~ ~~ :l~~' 03CO.
3. On or before June 27, 2006, the City shall make a one time
payment to the Authority in the amount of $100,000, to account for outstanding
obligations of the Authority and in consideration of the mutual revocation of the
previous agreements related to allocation of the sales tax increment.
4. The sales tax increment for the Wheat Ridge Town Center is
hereby extended to and including Decomb:~ 31,2900 December 31, 2014.
WRURA IGA
STATE OF COLORADO
)
) ss.
County of Jefferson
The foregoing instrument was acknowledged before me this 3D-K day of
()f1to no Il_ ,2007 by Jerry DiTullio as Mayor and Michael Snow as City Clerk of the
City of Wheat Ridge, Colorado.
Witness my hand and official seal.
My Commission ExpIres 0llI22JZ011
My Commission expires:
r1-a lYPlLQD n n ~
'N~;Y PL(!Jlic
hCWAl- _
o
3
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the
date first set forth above.
STATE OF COLORADO
County of Jefferson
WHEAT RIDGE URBAN RENEWAL AUTHORITY
By: ~wdJ1Q uJffl~ ~
. Chair
)
) ss.
-- ')
-K
The foregoing instrument was acknowledged before me this 30 day of
n('.,lr:K~ ,2007 byTpvC-e.\\ \1\ ,\\;0\'11'\ as C'hCl;~ of the Wheat
Ridge Urban Renewal Authority.
My Commission expires:
ATTEST:
~
Michael Snow, City Clerk
(h~/)/~'p cPt .
Npia-;pJblic
v3LW~
?/ '
My Commission ExDires 1l8i22I2lI11
CITY OF WHEAT RIDGE, COLORADO
APPROVED AS TO FORM:
(l
Gerald E. Dah , City
2