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Ordinance 2023-1853
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Ordinance 2023-1853
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Last modified
12/20/2024 3:08:32 PM
Creation date
6/13/2023 10:52:38 AM
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Template:
City Council Records
Also Known As (aka)
Centennial Valley GDP Amended and Restated Development Agreement Eleventh Amendment Parcel H at 972 W Dillon Road
Meeting Date
5/16/2023
Doc Type
Ordinance
Signed Date
5/16/2023
Ord/Res - Year
2023
Ord/Res - Number
1853
Property Address Number
972
Property Address Street Name
Dillon
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ELEVENTH AMENDMENT TO AMENDED AND <br />RESTATED DEVELOPMENT AGREEMENT <br />THIS ELEVENTH AMENDMENT (this "Amendment") is made and entered into this day <br />of 00Aq , 20 (the "Effective Date"), by and between THE CITY OF LOUISVILLE, a <br />Coloradi9 municipal corporation (the "City"), 972 WEST DILLON ROAD LLC, a Colorado limited <br />liability company (the "Developer") and CENTENNIAL VALLEY PROPERTIES I LLC, a Colorado <br />limited liability company, CENTENNIAL VALLEY PROPERTIES II LLC, a Colorado limited liability <br />company, CENTENNIAL VALLEY PROPERTIES III LLC, a Colorado limited liability company, <br />CENTENNIAL VALLEY PROPERTIES IV LLC, a Colorado limited liability company, CENTENNIAL <br />VALLEY PROPERTIES V LLC, a Colorado limited liability company, CENTENNIAL VALLEY <br />PROPERTIES VI LLC, a Colorado limited liability company (collectively, "CV Properties"). <br />Recitals <br />A. WHEREAS, the Developer is the owner of the real property located in Lot 1B of <br />972 West Dillon Road in the City as legally described on Exhibit A and referred to herein as the <br />"Dillon Rd Property". The subject property is located in an area of the City commonly known as <br />the Centennial Valley. <br />B. WHEREAS, the City and Louisville Associates, a joint venture, entered into an <br />Amended and Restated Development Agreement dated April 17, 1984, as amended from time to <br />time (the "Development Agreement") relating to the development of certain real property in the <br />Centennial Valley. The Development Agreement addresses, among other things, the approval <br />and implementation of a related development plan and the allocation of building area among <br />various parcels within the Property; <br />C. WHEREAS, Sears Development Company, a Delaware corporation formerly known <br />as Homart Development Company, as successor -in -interest to Louisville Associates, assigned its <br />interest in the Development Agreement to CV Properties, by an Assignment of Project <br />Agreements dated April 3, 1996; <br />D. WHEREAS, the Fifth Amendment to the Amended and Restated Development <br />Agreement dated July 6, 1995 (the "Fifth Amendment") contains certain restrictions on the <br />future development and use of the Dillon Rd Property (the parcel of land that includes the Dillon <br />Rd Property is referred to in the Development Agreement and amendments thereto as Parcel H); <br />and <br />E. WHERAS, the Developer desires to revise the permitted uses on the Dillon Rd <br />Property to allow for a greater mix of tenants, which would require an amendment to the use <br />restrictions contained in the Fifth Amendment. <br />NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of <br />which are hereby acknowledged, the parties agree as follows: <br />
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