Ordinance 2017-1745 - Laserfiche WebLink

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03613016 09/05/2017 10:18 AM RF. $0.00 DF. $0.00 Page: 1 of 25 Electronically recorded In Boulder County Colorado Recorded as received INTERGOVERNMENTAL AGREEMENT CONCERNING THE PURCHASE OF THE MAYHOJi I ER FARM OPEN SPACE PROPERTY Atik THIS AGREEMENT ("Agreement") is made and entered into this it-, day of , 2017, by and between the County of Boulder, a body corporate and politic (the " unty"), the City of Lafayette, a Colorado home rule municipal corporation ("Lafayette"); and the City of Louisville, a Colorado home rule municipal corporation ("Louisville"); (collectively the "Parties"). RECITALS A. The County is negotiating to purchase approximately 165.3 acres of open space known as the "Mayhoffer 3 Property" or "Ag Parcel" (the "Property"). The Property is generally depicted on a map attached hereto as Exhibit A. B. The purchase price also includes certain water rights appurtenant to the Property and the mineral rights appurtenant to the Property as well as the mineral rights appurtenant to three adjacent house lots that the seller will retain. C. The Parties entered into an IGA regarding the Lafayette/Louisville Buffer on July 9, 1996, recorded on August 15, 1996 at Reception No. 01634694 of the Boulder County records ("Buffer IGA"). The Buffer IGA was amended by the First Amendment recorded at Reception No. 1707970, the Second Amendment recorded at Reception No. 1959082, and then replaced and superseded by the 2014 Extension recorded at Reception No. 03399250 ("2014 IGA"). The 2014 IGA provides that the Property is located in a designated Rural Preservation Area and may be acquired as open space by the Parties This Agreement conforms to the terms of the 2014 IGA. D. The anticipated purchase price is $8,255,789 with a proposed closing date of August 18, 2017. Lafayette and Louisville will each contribute $2,063,947 of the purchase price at closing for an undivided 25% interests in the Property, water rights and minerals. County will pay $4,127,895 of the purchase price, and receive an undivided 50% interest in the Property, water rights and minerals E. The Parties desire to exchange reciprocal conservation easements with each other over their respective undivided interests in the Property, assuring its use will remain as open space. F After closing, Louisville and Lafayette will designate the Property as open space, Once the designation is made, neither city can change the Property to non -open space uses without a vote of their respective citizens and the approval of Boulder County. G. The County will also be obtaining conservation easements over two house lots as part of the transaction, the "Centennial House Lot" and the "Rental House Lot". County will Mayhoffer Farm IGA 1 1 5 1 6 �d