HomeMy WebLinkAboutResolution 2015-0007CITY OF WHEAT RIDGE, COLORADO
RESOLUTION NO. 07
Series of 2015
TITLE: A RESOLUTION APPROVING A FIRST AMENDMENT
TO THE WADSWORTH BOULEVARD CORRIDOR
REDEVELOPMENT PLAN TO ALLOW FOR THE
UTILIZATION OF TAX INCREMENT FINANCING FOR
THE PROPOSED PROJECT AT THE SOUTHWEST
CORNER OF 38TH AND WADSWORTH
WHEREAS , on October 22 , 2001 , the Wheat Ridge City Council approved an
urban renewal plan , known as the Wadsworth Boulevard Corridor Redevelopment Plan
(the Urban Renewal Plan) for the elimination of blight and redevelopment of certain
portions of the City ; and
WHEREAS, such Urban Renewal Plan includes the area described in Exhibit A
hereto, which is the location of the Quadrant Development Properties redevelopment;
and
WHEREAS, Section 5 of the Urban Renewal Plan provided for the utilization of
sales and property tax incremental revenue sources within the redevelopment area ; and
WHEREAS , in compliance with the Urban Renewal Law of Colorado , C.R.S . §
31-25-101 et seq., the Wheat Ridge Urban Renewal Authority desires to implement the
use of tax increment financing for the project area described in Exhibit A ;
WHEREAS , this first amendment to the Urban Renewal Plan is considered a
substantial modification and therefore requires a 30-day notice to all property and
business owners in the Urban Renewal Plan project area and the County
Commissioners and requires the City's Planning Commission to review the amendment
and its conformity to the City's Comprehensive Plan for development as a whole ; and
WHEREAS , a 30-day notice was placed in a newspaper of general circulation
and the City's Planning Commission did review the amendment at its December 18,
2014 regular business meeting .
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Wheat
Ridge, Colorado, as follows :
Section 1. The City Counc il hereby adopts this resolution amending Section 8 of
the Urban Renewal Plan for the utilization of property and sales tax increment for the
Quadrant Development Properties redevelopment project.
DONE AND RESOLVED this 9th day of February , 2015.
ATTEST:
EXHIBIT A
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