City Council Agenda and Packet 2013 12 16

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oi% + . WHEREAS, the Parties desire to amend the Agreement to prevent either party from soliciting existing businesses to relocate from one jurisdiction to the other; and WHEREAS, the Parties recognize that the South Property has not developed since the IGA was created and that this Amendment will make the South Property more attractive to the existing development market for the benefit of both Parties; and WHEREAS, the Parties are authorized by law, including but not limited to C.R.S. 29-1-201 et seq. and CRS. §29-20-105, to enter into the agreements. and perform the functions, set forth herein, NOW THEREFORE, in consideration of the foregoing recitals and the mutual covenants and agreements contained herein, the Parties agree as follows: A. Subparagraphs a and b of Paragraph 3 of the Agreement are amended to read in full as follows: 3. Annexation of South Property. If the South Property is annexed to Superior, then the following shall apply: a, No more than eight acres of We South Property may be developed for residential retirementisenior housing in one or more buildings not exceeding the height limitation applicable to commercial buildings on the South Property. The balance of the South Property may be developed as a "mixed use" area to include residential dwelling units, office, retail and other uses, subject to provisions hereof. b. There shall be a minimum of 250,000 square feet of retail, sales-tax generating development on the South Property, Superior shall require construction of a minimum of 250,000 square feet of retail, sales-tax generating development on the South Property as part of its approval of the Preliminary PD/Zone District Plan for development on the South Property. and Superior shall not permit or approve any development that does not contain such minimum amount of retail, sales-tax generating square footage (exclusive of the retirementlsenior housing permitted under 3.a, above). With its approval of the Preliminary PD/Zone District Plan for development on the South Property, Superior shall fix the total number of permitted residential dwelling units 2 2./17/2oos. h 3U Ar.i C It cumerN 5 an0 Sellimpt84411041,ocal Spliirrgsr,Tempprpry internal Filpi OLKB4lfirral lid amendment dew;