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Revitalization Commission Resolution 15-01
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Revitalization Commission Resolution 15-01
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Last modified
4/11/2018 8:36:53 AM
Creation date
2/4/2015 8:34:04 AM
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CITYWIDE
Also Known As (aka)
Approves Cooperatio Agreement re Regional Detention Facility Land Compensation
Doc Type
Boards Commissions Committees Records
Signed Date
1/12/2015
Cross-Reference
CITY COUNCIL RESO 2014-77
Record Series Code
20.090
Record Series Name
BCC Resolutions
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COOPERATION AGREEMENT <br />Regional Detention Facility Land Compensation <br />1AJ1An,�y l <br />This Agreement (the Cooperation Agreement) is made as of , 2015, by and <br />between the CITY OF LOUISVILLE, COLORADO (the City) and the LOUISVILLE <br />REVITALIZATION COMMISSION (the LRC). The City and the LRC are sometimes referred <br />to herein individually as a Party and collectively as the Parties. <br />RECITALS <br />A. The City is a home -rule city and municipal corporation duly organized and <br />existing under and pursuant to Article XX of the Colorado Constitution and Charter of the City <br />(the Charter). <br />B. The LRC is a public body corporate and politic authorized to transact business and <br />exercise its powers as an urban renewal authority under and pursuant to the Colorado Urban <br />Renewal Law, Part 1 of Article 25 of Title 31, C.R.S. (the Act). <br />C. The Act and Section 18, Article XIV of the Colorado Constitution authorize the <br />Parties to enter into cooperation agreements, and the Parties desire to enter into this Cooperation <br />Agreement to compensate the City for land used to construct a regional stormwater detention <br />facility (the Project) that will serve properties within the area (the Plan Area) described in the <br />Highway 42 Revitalization Area Urban Renewal Plan (the Plan), including specifically the "Core <br />Project Area" as defined in LRC Resolution No. 2014 -03. <br />D. The Project is located north of the City's wastewater treatment facility on Empire <br />Road. The Project will allow for properties within the Core Project Area to satisfy stormwater <br />detention and water quality requirements, will be carried out in furtherance of the purposes of the <br />Act and Plan, and will be completed as a URA Public Improvement pursuant to the terms of the <br />Core Area Project Agreement among the City, LRC and Takoda Properties, Inc. dated effective <br />July 1, 2014 and other applicable agreements. <br />E. The Plan provides for financing the activities and undertakings of the LRC by <br />means of property tax allocation or tax increment financing (Property Tax TIF) in accordance <br />with Section 31 -25- 107(9) of the Act. <br />F. The Parties previously entered into that certain Amended and Restated <br />Cooperation Agreement dated April 5, 2011 (the 2011 Cooperation Agreement), which provides <br />that the LRC shall repay to the City Costs and Expenses incurred by the City for the provision of <br />Operating Funds and Support Services for the LRC, as further defined and set forth in the 2011 <br />Cooperation Agreement. <br />G. The parties also previously entered into that certain Tri -Party Agreement with the <br />County of Boulder dated December 5, 2006 (Tri -Party Agreement) which provides that <br />1 <br />
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