!Planning Commission Agenda and Packet 2010 02 25 AGENDA__ConocoPhillips

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ConocoPhillips February 3, 2010 Via: OverniMhi Delivery Mrs. Heather Balser Deputy City Manager CITY OF LouisviL.LF. 749 Main Street Louisville, Colorado 80027 Re: Vesting of Certain Property Rights Dear Heather: Sincerely, Bill Covell jpbiWRC c. File Wiltiam R. Covell Project Manager Corporate Real Estate 854 Phillips Budding 420 South Keeler Bartlesville, Oklahoma 74004 Telephone: (918) 661 -7488 Facsimile: (918) 661 -8353 William. R.Covell @conoeophillips.c0m Please allow this letter to respond to your request that we provide a letter of our intent to pursue a separate agreement to vest ConocoPhillips with certain property rights related to the Colorado Campus. As you are aware. recent interpretations of the Louisville Municipal Code (the "Code ") by the City's attorney involving the Planned Community Zone District have altered our interpretation applied to that zoning classification. by City staff. As a result, we are informed that any variances from the building height or other ('imitations set forth in the Commercial Development Design Standards and Guidelines ( "CDDSG ") may not be waived in the General Development Plan, and, therefore, may not be established by the PCZD -C zone district. This leaves these important issues to be resolved during the PUD planning review process, with approval being granted only as part of a final development plan ( "FDP "). As set forth in our preliminary entitlement submittal, ConocoPhillips expects development to occur in three (3) phases through 2035. Therefore, in order to meet the objectives of ConocoPhillips and the City, respectively, we would like to pursue City Council approval of a vesting agreement between the City of Louisville and ConocoPhillips which would vest ConocoPhillips with rights to develop to specified building heights, densities, land uses and other yard and bulk requirements prior to FDP approval. This will provide certainty that our project vision is consistent with the City's development objectives, and ensure that we may develop our campus to meet these shared objectives over the phased life of the project. In this way, the certainty which would be achieved for both ConocoPhillips and the City of Louisville would benefit the City and its constituents by ensuring a unified and cohesive campus As always, 1 remain available to discuss further, or to provide any additional information you may require.