City Council Minutes 1983 03 15 - Laserfiche WebLink

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ADOPTION Councilman Leary Time Frame on Improvements Michael Sayre, Attorney for Proponents of the District VOTE ON ADOPTION AMENDMENT TO CTC SUBDIVISION AGREEMENT 3/15/83 Page -5- Mr. Howard statE~d that each buyer presently located at CTC signed a contract that out- lined very clearly that the property would possibly be included in an improvement dis- trict. Councilman Fauson moved, Councilman Ferrera seconded that Resolution #13 - Colorado Technological Center - Metropolitan District be adopted. Requested that staff prepare a schedule of completion- of the first phase of CTC as stated by :Hr. Howard so that it would be com- pleted by this fall. Asked for council's con- currence. Attorney Rautenstraus advised an amendment could be prepared to the existing sub-division agreement, which could incorporate this time frame. Mr. Sayre concurred with Attorney Rauten- straus that the time frame be dealt with in the subdivision agreement, as the law did not provide for conditions to be placed on the resolution. The intention is to author- ize bonds as soon as possible after council's approval ~f_the resolution - issue the bonds in July or July and start construction in mid- summer. Discussion by council to review the CTC sub- division agreement and include an up-dated time frame of when the improvements would be completed. If the improvements were not made in a timely manner, the City would call upon the properly executed letters of credit, etc. Question called for. All in favor. Motion carried unanimously. Councilman Leary moved, Councilman Ferrera seconded that staff prepare an amendment to the CTC subdivision agreement specifying completion dates and contingencies for the improvrnents as discussed, i.e. to improve 1300' of Dillon Road into a 4-lane aterial, install another loop on the water and sewer utilities and streets; tear out the entry- way and redo the landscaping. Question called for. All in favor. Motion carried unanimously.