HomeMy WebLinkAboutLou Ficco & Tony Ficco130. 6 4:zr�
DEVELOPMENT AGREEMENT
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THIS DEVELOPMENT AGREEMENT, as authorized by the SUBDIVISION
REGULATIONS of the CITY OF WHEAT RIDGE, is entered into this
day of , 19 , between the City of
Wheat Ridge, a Municipal Corporation, hereinafter referred to as
City, and Lou Ficco & Tony Ficco , hereinafter referred
to as Owner, and concerns property located at
11080 West 38th ,venue, ?+7heat Ridge, CO 80033
WITNESSETH:
NOW, THEREFORE, IT IS HEREBY AGREED THAT:
1. The responsibility for meeting, conforming to and provid-
ing those requirements as set out in the SUBDIVISION REGU-
LATIONS of the City, is hereby recognized by Owner.
2. The Director of Public Works, upon the direction of the
Mayor or the City Administrator, shall give written notice
directing the Owner or his assigns and successors to meet
those requirements as set out in the SUBDIVISION REGULA-
TIONS of the City and to construct public improvements
described above, including curb, gutter, sidewalks and
street improvements.
3. Upon receipt of such notice to furnish or construct the
public improvement as required under the SUBDIVISION REGU-
LATIONS of the City, Owner hereby agrees to construct and
furnish at Owner cost, such iiip o'Cie,itents as are requirCu
by the SUBDIVISION REGULATIONS of the City, and to do so
in conformance with the design standards of the SUBDIVI-
SION REGULATIONS of the City.
4. Owner agrees to construct, or cause to be constructed, all
public improvements required hereby within 60 days of
the receipt of the notice described in the preceding para-
graph. In the event such public improvements are not
completed within such time, the City is hereby authorized
to enter upon the Property, either by its employees or
through agents, contractors, or subcontractors, and to
complete the public improvements described herein, said
completion to be accomplished at Owner's sole expense.
Owner agrees to pay for all improvements so made within 30
days of the date of completion, Owner further agreeing
that any amount resulting from his failure to pay for any
improvement thus completed shall constitute a lien upon
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WHEREAS, Owner is the titled Owner of a tract of land in
the City of Wheat Ridge, County of Jefferson, State of
Colorado, more fully described in Exhibit A, which is
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attached hereto and expressly made a part hereof (which
property is hereinafter referred to as "the Property ");
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WHEREAS, Owner desires to develop the Property but has not
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been issued a Building Permit as of
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to do so; and
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WHEREAS, curb, gutter, sidewalk and street improvements
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bordering the Property and the neighboring tracts of land
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are incomplete and /or below those standards as set out in
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the SUBDIVISION REGULATIONS of the City; and
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WHEREAS, to be uniform and consistent with the existing
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neighboring improvements, the completion or non - completion
of those improvements as required by SECTION FIVE: IM-
PROVEMENTS of the SUBDIVISION REGULATIONS will make no
significant change at the present in those streets front-
ing the Property and the neighboring tracts of land; and
WHEREAS, in order to conform to those requirements as set
out in the SUBDIVISION REGULATIONS of the City, this
Agreement is hereby determined to be proper.
NOW, THEREFORE, IT IS HEREBY AGREED THAT:
1. The responsibility for meeting, conforming to and provid-
ing those requirements as set out in the SUBDIVISION REGU-
LATIONS of the City, is hereby recognized by Owner.
2. The Director of Public Works, upon the direction of the
Mayor or the City Administrator, shall give written notice
directing the Owner or his assigns and successors to meet
those requirements as set out in the SUBDIVISION REGULA-
TIONS of the City and to construct public improvements
described above, including curb, gutter, sidewalks and
street improvements.
3. Upon receipt of such notice to furnish or construct the
public improvement as required under the SUBDIVISION REGU-
LATIONS of the City, Owner hereby agrees to construct and
furnish at Owner cost, such iiip o'Cie,itents as are requirCu
by the SUBDIVISION REGULATIONS of the City, and to do so
in conformance with the design standards of the SUBDIVI-
SION REGULATIONS of the City.
4. Owner agrees to construct, or cause to be constructed, all
public improvements required hereby within 60 days of
the receipt of the notice described in the preceding para-
graph. In the event such public improvements are not
completed within such time, the City is hereby authorized
to enter upon the Property, either by its employees or
through agents, contractors, or subcontractors, and to
complete the public improvements described herein, said
completion to be accomplished at Owner's sole expense.
Owner agrees to pay for all improvements so made within 30
days of the date of completion, Owner further agreeing
that any amount resulting from his failure to pay for any
improvement thus completed shall constitute a lien upon
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Development Agreement
Page -2-
the Property above described in the actual amount of the
public improvements completed, less any payments made by
Owner, plus interest on the amount unpaid at 10 percent
per annum from the date of completion, plus any costs
incurred by the City in collecting same, including court
costs and attorney's fees.
5. In the event an Improvement District or a Special Improve-
ment District is created by the City to improve or provide
those requirements as set out in the SUBDIVISION REGULA-
TIONS for those streets or streets fronting the Property
and the neighboring tracts of lands, the owner or his
assigns and successors agree not to oppose its creation,
or subsequent assessment of the costs to the Property.
6. In the event an Improvement District is created by the
City to provide the improvements as provided by the SUBDI-
VISION REGULATIONS, the costs assessable against the Prop-
erty shall not be disproportionate with costs assessable
to other nearby and like properties.
7. This agreement is executed by the Owner pursuant to the
SUBDIVISION REGULATIONS of the CITY OF WHEAT RIDGE.
8. The parties hereto agree that this DEVELOPMENT AGREEMENT,
by its terms, shall be binding upon the City and the Owner
and upon the assigns and successors thereof, and shall
constitute covenants running with the Property.
9. The City, in its sole discretion, may require a cash or
surety bond to be held in escrow by the City to secure
completion of the public improvements described herein.
Such cash or surety bond shall be in the sum sufficient to
cover the estimated costs of the construction of the
public improvements described herein, said estimate to be
made at or about the time of the notice described in Para-
graph 2 above. In the event the Owner fails to complete
the public improvements within the time specified in Para-
graph 4 hereof, the City may, at its sole option, complete
or cause to be completed, said construction and use all,
or any part of the cash or surety bond to pay for or cause
to be paid, all bills and costs incurred in completing
said public improvements. Any interest earned on any
escrow funds shall be the sole property of the City.
10. The DEVELOPMENT AGREEMENT shall be recorded with the Clerk
and Recorder of Jefferson County, Colorado, and shall
constitute a continuing covenant running with the land,
providing however, that this DEVELOPMENT AGREEMENT shall
be released by the City upon the completion by the Owner
of the public improvements described herein, which release
shall be evidenced by a signed document attested to by the
City Clerk and bearing the City's seal, which document
shall likewise be recorded.
SPECIAL PROVISIONS AND AGREEMENT:
6 vertical curb and cutter with a 4' wide attached or detached sidewalk
and all necessary asphalt pavinq required to bring the existing street
section, at time of construction, up to the City's standard for a
'collector street. These improvements shall be the length of the frontage
of the property.
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Development Agreement
Page -3-
IN WITNESS WHEREOF, the parties have set their hands and seals on
date first shown.
EXECUTED BY CIT
Mayor, Ci y of Wheat Ridge
STATE OF COLORADO )
)s
COUNTY OF JEFFERSON )
RECEPTION NO. 860689 FI
The foregoing instrument was acknowledged before me this
day of
, 19
My commission expires
Notary Public
EXECUTED BY OWNER:
STATE OF COLORADO )
)ss
COUNTY OF JEFFERSON)
The foregoing instrument was acknowledged before me this
day of &2 19 O G , by
on expires: f - / 7 , l91f
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by
Not Public
RECOMMENDED BY:
ommunity Development )Dfpartment