Resolution 2015-13 - Laserfiche WebLink

Home Browse Search

2. Purpose. The purpose of this Agreement is to set forth the terms and conditions of the annexation of the Property to the City. Except as expressly provided for herein to the contrary, all terns and conditions herein are in addition to all requirements concerning annexation contained m the Municipal Annexation Act of 1965,as amended,C.R.S. §31-12-101 et 3 Further Acts Owner agrees to execute,promptly upon request of Louisville, any and all surveys and other documents necessary to effect the annexation of the Property and the other provisions of this Agreement Owner agrees to not sign any other petition for annexation of the Property or any petition for an annexation election relating to the Prop erty, except upon request of Louisville. 4. Annexation Fees. Owner agrees to provide legal documents, surveys, engineering work, newspaper publication, maps, and reports determined by Louisville to be necessary to accomplish the annexation, and agrees to pay Louisville an"Annexation and-Initial Zoning Fee" in the amount of six thousand four hundred and fifteen dollars($6,415:00). 5. Action on Petition. Louisville shall act upon the Annexation Petition within six months of the date of filing with the City Clerk,unless Owner consents to later action. 6. Zoning and Development. The Parties recognize that it is the intent and desire of Owner to develop the Property under a Planned Community Zone District — Commercial/Residential("PCZD-C/R") zoning designation, and that the granting of such zoning of the Property by the City to "PCZD-C/R" is a condition to annexation of the Property. This condition to annexation shall be deemed satisfied and of no further effect 45 days after the date of publication of Ordinance No. 1680, Senes 2015, approving such PCZD-C/R zoning Owner shall take all action necessary to permit zoning by Louisville of the annexed Property within the time prescnbed by state statutes and Section 17.44.080 of the Louisville Municipal Code. Owner further agrees that development of the Property under the PCZD-C/R zoning, and the allowed maximum permitted density of two hundred thirty one (231) residential units, shell be subject to the following terms and conditions,which are conditions to"the annexation and zoning of the Property: a Affordable and Age-Restricted Units. No less than 80% of the total amount of all residential units developed on the Property shall be affordable units for which the maximum rents and mcome limits do not exceed those listed for Boulder County m the Colorado Housing and Finance Authority's ("CHFA") Income and Rent Tables, as amended, for tenants earning at or below 60% of the Area Median Income ("AMI"), as adjusted for family size and number of bedrooms. Within such 80%,no less than sixty (60) of the affordable units shall be age-restricted for occupancy by persons fifty-five years of age or older, to the extent permitted by and developed in accordance with the exemption in the Fair Housing Act that concerns housing for older persons and associated HUD regulations at 24 C.F.R. § 100 300 et sew. Such age-restricted housmg affordable units shall be provided by the Boulder County Housing Authority ("BCHA"). (Thus, for example, if the Property is developed with 231 residential units, 185 units, at a minimum, shall be affordable units which shall be income restricted at or below 60%AMI, and at least 60 of those units shall be age- 2