City Council Study Session Agenda and Packet 2004 12 14

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FIRST AMENDMENT TO INTERGOVERNMENTAL AGREEMENT This First Amendment to Intergovernmental Agreement ( "Amendment ") is made and entered into to be effective the day of , 2004, between the City of Louisville, Colorado ( "Louisville ") and the Town of Superior, Colorado ( "Superior ") (collectively the "Parties ") as the first amendment to the Intergovernmental Agreement between the Parties effective upon certification of the election results of the November 1997 election (the "Agreement "). WHEREAS, the Parties entered into the Agreement, inter alia, to provide for sharing of sales taxes on the South Property, which Property was disconnected from Louisville and annexed to Superior; and WHEREAS, the Agreement limits the amount of residential development on the South Property; and WHEREAS, it is in the interest of both Parties that sales taxes on the South Property be maximized for the benefit of both Parties; and WHEREAS, Superior is working with a developer that is willing to develop the South Property for a mixed -use development that includes multi - family housing, which housing will provide opportunities for persons to live and work in the area, thus maximizing the use of and revenue generation from non- residential portions of the development; and WHEREAS, Superior has represented that this mixed -use development on the South Property is not anticipated to ,contain ,more than 2,000 dwelling units, and the Town will require ,a minimum of 250,000 square feet of retail, sales -tax generating development; and WHEREAS, the Parties desire to amend the Agreement to allow for additional residential development on the South Property, to set a minimum square footage of retail, sales -tax generating uses, and to provide for a phasing plan requiring the concurrent development of residential and retail uses on the South Property; and WHEREAS, the Parties desire to amend the Agreement to prevent either party from soliciting existing businesses to relocate from one jurisdiction to the other; and WHEREAS, the Parties recognize that the South Property has not developed since the IGA was created and that this amendment will make the South Property more attractive to the existing development market for the benefit of both Parties. 1 Redline of Louisville 11 -22-04 Draft 12/10/2004 2:53 PM, J, G: \COUNCIL \Council Communication \2004 \Dec 14 Biella Menkick IGA Redline.doc, { Deleted: pursuant to the Agreement Deleted: will Deleted: not Deleted: in addition to 3 t Deleted: 12/3/2004 J t Deleted: 11/23/2004 Deleted: 2:13 PM Deleted: 5:06 PM Deleted: G: \4\sup4550 \IOUISVILLE\ KEh 11 -23 to Light 11- 22.doc Deleted: F: \Company \Louisville\Agre ement \Superior - Lville IGA 1st Amendment - Land Use (sjI rev. 11- 22-04).doc