Loading...
HomeMy WebLinkAbout2018 Resolution No. 020RESOLUTION NO. 20 SERIES OF 2018 A RESOLUTION SUPPORTING THE ENGLEWOOD MCLELLAN RESERVOIR FOUNDATION AGREEMENT WITH THE REGIONAL TRANSPORTATION DISTRICT (RTD) TO ENTER INTO A COST SHARING AGREEMENT FOR THE CONSTRUCTION OF PLAZA CIRCLE. WHEREAS, the Englewood Mclellan Reservoir Foundation (EMRF) was formed to oversee the development of the Mclellan Reservoir property; WHEREAS, as part of the 2008 sale of EMRF property to RTD, EMRF and RTD agreed to execute a Subdivision Improvement Agreement with Douglas County; WHEREAS, RTD agreed, as part of the purchase, to contribute one-half of the cost of constructing the roadway up to $500,000 dollars in order to develop the property; WHEREAS, in November 2015 EMRF and RTD filed a minor development plat that dedicated the right-of-way to Douglas County; WHEREAS, in January 2016 EMRF entered into a lease agreement with MKS Residential, which obligated EMRF to construct Phase 1 of the roadway; WHEREAS, at the time of the lease agreement between MKS Residential and EMRF, RTD declined to enter into a cost sharing agreement to build the roadway; WHEREAS, thereafter, MKS along with EMRF built Phase 1 of the roadway, with EMRF contributing one-half of the cost up to $ 375,488.99, and which RTD will be reimbursing EMRF $105,000; WHEREAS, Phase 2 of the roadway project is slated to begin, and RTD will contribute $395,000 along with EMRF's $561,333 to complete the project, and; WHEREAS, completion of the roadway and utilities, in Phase 11, will allow EMRF to command higher lease rates for the remaining two parcels owned by EMRF and served by the roadway and utilities. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD, COLORADO, THAT: Section 1. The City Council of the City of Englewood, Colorado, hereby supports the Englewood McClellan Reservoir Foundation cost sharing agreement with the Regional Transportation District for Phase II of the Plaza Circle Roadway, attached hereto as Exhibit A. ADOPTED AND APPROVED this 18th day of June, 2018. ATTEST: I, Stephanie Carlile, City Clerk for the City of Englewood, Colorado, hereby certify the above is a true copy of Resolution No. W , Series of 2018.