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HomeMy WebLinkAboutResolution-1988-1127 ," 1-- . , T' J '-- ! I ,:... tr J ( , , i " I (- 'I " I ,;' ~ ! RESOLUTION 1127 SERIES OF 1988 TITLE: RESCISSION OF THE KIPLING ACTIVITY CENTER URBAN RENEWAL PLAN, AS AMENDED. WHEREAS, on January 24, 1983, the Wheat Ridge City Counci 1 adopted Resolution #828, Series of 1983 which adopted the Kipling Activity Center urban renewal plan; and WHEREAS, at the time of adoption of the Plan, the Wheat Ridge City Council approved as the sole project element, the relocation of the West Interstate 70 Frontage Road, South; and WHEREAS, the Wheat Ridge Urban Renewal Authority, which was later renamed the Wheat Ridge Economic Development and Revitali- zation Commission, borrowed from the City of Wheat Ridge the amount of One Hundred Twenty Five Thousand Dollars ($125,000) to accomplish the relocation of the West Interstate 70 Frontage Road, South; and WHEREAS, the relocation of the West Interstate 70 Frontage Road, South was completed in August of 1984; and WHEREAS, as a direct result of the relocation of the West Inter- state 70 Frontage Road,South, two motels were built; and WHEREAS, the Kipling Activity Center, through property tax incre- ment financing and sales tax increment financing, fully repaid the debt to the City of Wheat Ridge in November, 1987. NOW THEREFORE, BE IT RESOLVED: 1. The Kipling Activity Center Urban Renewal Plan is hereby rescinded and no sales tax increment, lodgers tax incre- ment nor property tax increment shall be captured from the areas described in Exhibit A after the effective date of this rescis- sion. All 1987 property taxes, payable in 1988, shall not be captured for the Kipling Activity Center. 2. Any remaining monies, after all debts and financial obligations are paid, held by the Kipling Activity Center and derived from property tax increment financing shall be returned to the proper taxing entity as soon as practicable, but no later than December 31, 1988. The formula for division of the remain- ing money between the taxing entities shall be determined by the percentage that their mill levy relates to the total mill levy for the area. 3. The rescission shall be effective December 31, 1988. 1 DONE AND RESOLVED this -1Lt~ay of December, 1988. / ~r-' I, j ;' /....._ L"-". t..-\, _,-t <' ..c....~ Dan Wilde, Mayor ATTEST: 2 EXHIBIT A The Urban Renewal Area is the entire area described as follows: The area boundary begins at the intersection of the east right-of-way line of Independence ~treet and the south right-of-way line of the South 1-70 Service Road; extends west along the south right-of-way line of the South 1-70 Service Road to the east lot line of D & M Subdivision, Lot 1; extends south along the eastern property line of D & M Subdivision, Lot 1; extends west to James Chado's northeast property corner; extends south to the northern lot line of Juchem's Garden Subdivision, Tract A; follows the Juchem' s Garden Subdivision; s northern boundary east to the northeast corner of Juchem's Garden Subdivision, Tract C; extends south along the eastern property line of Juchem's Garden Subdivision, Tract C; follows east along the northern property line of the Caldwell property; ex- tends south along the east right-of-way line of Inde- pendence Street to the south right-of-way line of West 44th Avenue; extends west on West 44th Avenue to the west right-of-way line of Miller street (extended); extends north along the west line of Miller Street (extended) to the north right-of-way line of West 44th Avenue; extends east along West 44th Avenue to the east right-of-way line of Lee Street; extends north along Lee street to the northwest corner of the Tofflemoyer property; follows the northern lot lines of the Toffle- moyer and Larson properties to the west right-of-way line of Kipling Street; extends north along Kipling Street to the southeast corner of the Morris property; extends west along the Morris and LaMeres property; extends north along the west property line of the LaMeres property, a distance of 200 feet; extends west 100 feet; extends north to the south property line of the Koch property; extends west along the Koch property to the west right-of-way line of Miller Street; extends north along Miller Street, across 1-70 to the north right-of-way line of 1-70; extends easterly along the north right-of-way line of 1-70 to the east right-of- way line of Independence Street; extends south along the east right-of-way line of Independence Street (extended) across 1-70 to the south right-of-way line of the South 1-70 Service Road, which is also the point of beginning; all in the records of the Jefferson County Clerk and Recorder in the City of Wheat Ridge, Jefferson County, State of Colorado. The Project Area and Plan was amended and the Project Area boundaries was expanded to include the following described real property: Beginning at the intersection of the northerly R. O. W. line of Interstate 70 and the easterly R.O.W. line of Kipling Street, thence northerly along the easterly Kipling R.O.W. line to its intersection with the north- erly Public Service R.O.W. line north of West 50th Avenue, thence southwesterly across Kipling street and along the northern Wheat Ridge City limit line between Kipling and Miller streets and the sout~westerly exten- sion of that line to the intersection of that extension with the westerly R.O.W. line of Miller Street to its intersection with the northerly R.O.W. line of Inter- state Highway 70, thence easterly along the northern R.O.W. line of Interstate Highway 70 to its intersec- tion with the easterly R.O.W. line of Kipling Str28t, that being the Point of Beginning, all in the records of the Jefferson Count Clerk and Recorder in the City of Wheat Ridge, Jefferson County, State of Colorado. Also included in the Urban Renewal Area are the street right-of-way and street intersection of the above described area.