HomeMy WebLinkAbout2000 Resolution No. 043•
•
RESOLUTION NO. U
SERIES OF 2000
A RESOLUTION SUPPORTING THI'. l't'?..CHASE OF NORWEST BANK PROPERTY
FROM NORWEST BY THE ENGLEWJOD ENVIROt,~NTAL FOUNDATION FOR THE
CITYCENTER ENGLEWOOD .
WHEREAS , The Enclewood Environmental Foundation was formed to n,lieve the
burdena which would otherwiee be a81umed by th• {;ity of Enc!ewood, Colorado, in
connection with the onvironmental n,mediation, land uae planning and pn,pr ration for
n,devolopment of th• Cinclen,lla City 1hoppinc centar; and
WHEREAS , the Englewood Environmental Foundation was formed to provide support for
the redevelopment and enhancement of the City's commercial environment and ill a separate
and dilltinct corporation ; and
WHEREAS, the City Council of the City o!Enalewood, Colorado, supported the Muter
Plan propoeed on Auguat 10, 1998 by the Enclewood Environmental Foundation; and
WHEREAS , the purchase price of the Property ill $630,000; and
WHEREAS , the Englewood Environmental Foundation baa been requested to contribute
$150,000.00 to the purcba.ae of the No-•••I '!u,k Property; and
WHEREAS, Miller Weincarten "'1 )1 '.p .. ,;,,....., $480,000 to the purchase of the Norw eat
Bank Property; and
WHEREAS, Miller Weincarten will !live the Propeny to the Englewood Environmental
Found!.' .. n which will be the owner cir the property;
WHEREAS , the No~•at Blllk Property will be included in tho CityCentar Project and
will enhance the Master Plan and overall sita dHi!Jl;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD. COLORADO, THAT :
Sil!:lilm..l, The City Council of the City of Englewood, Colorado, hereby supports the
p\•.tebase of Norwest Bank Property from Norweet by the Englewood Environmental
Foundation for the CityCenter Eng!•wood .
~ Thia reaolution of ■upport in no Wl)' waives or delegates the City'• reculatory
powers, duties and ropon.sibilitiea with respect to zoning and governmental ia■uu .
ADOPTED AND APPROVED this 17th day of April. 2000.
ATI'EST :
{Y}t, (l.,_ e::-::::
~yor
Bren a J. castle, Deputy City Clerk
Brenda f. Ca.sUe, _Oi,PUtY . .
, ~frl!llii,~ Git)' Clerk f~ jhe City of Englewood, Colorado, hereby certify tbe
above u a true copy of Reaolution N~ Seriea of 2000.
~~&
Brenda J. castle
COUNCIL COMMUNICATION
Date Agenda Item Subject
Resolution supporting the
Englewood Environment
April 17, 2000 11 ell Foundation's contribution of
$150,000 lor the purchase of
the Norwast Bank orooertv
Initiated By Staff Source
City of Englewo od, Administrative Services Frank Gryglewtcz, Director
Department
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
The City Council has madt! the redevelopment of the Cinderella City property an ongoing priority. The
Project has been discussed by Council numerous times . Council discussed the purchase of Norwest
Bank property at a study s~ssion held April 10, 2000.
RECOMMENDED ACTION
Staff recommends the City Council approve the attached resolution.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
This resolution supports the Englewood Environment Foundation's contribution of $150,000 toward
the purchase of the Norwest Bank Property. MIiier Weingarten will contribute $430,000 toward the
total purchase pric~ of $630,000. A supplemental appropriation is not required because the funds
were previously trar,sferred lor use on the project. The $150,000 constitutes a reductton of funds that
would have been ret.imed to the City's General Fund.
FINANCIAL IMPACT
The City's estimated re•.um of funds is reduced by $150,000.
LIST OF ATTACHMENTS
Proposed resolution