HomeMy WebLinkAbout1997 Resolution No. 085I • •
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RESOLUTION NO . 8'5
SERIES OF 1997
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A \l ESfft,lrrION AUTHORIZING THE CITY OF ENGLEWOOD .EliNTERING INTO A
RF.IJEVELOPMENT COOPERATION AGREEMENT wrrH CO!mN BROTHERS, INC.
rn n 't'HE GENERAi, IRON SITE .
WHERl" <, I.he City has determin•tl that the old General Iron St.ii Mill site ia an urban
redevelov·01•l")t "inrity of the City; and
WHEREAP , "'-d.evelopment of the Gene. ·al Iron site may include ;,Ianning, land use and
fi t1 :•ntPi ~t.,.,~iclerotidns applicable t.o certain properties near General &on but which are not
a p, rt GI' ihe Steel Mill site; and
WHEREAS, the City Council authorizea the passage of Ordinance No. 33, Series of 1997
which established a temporary suspension or moratorium on the ial:Jmce of permita and
gr,u,ting of licenses for the industrially zoned property located between Yale on the north,
Delaware on the east, Santa Fe on the west and Dartmouth on the ""'1m for a period of 8
months; and
WHEREAS, the City has engaged Civitas to assist the City in deta:mining community
concerns and goals, in evaluating land use e :id zoning isaues in the -and to assist the
c,t,· ID activities which will le ad to red eve iopmeot; and
WHEREAS, the City has particula r interest in bringing forward redevelopment of the
area which may include a Light rail transit atop , new multi-(amily b:ouaing, a hotel ,
neighborhood retail and 1igniticant employment related uses which zre compatible with a
transit oriented, people intensive, mixed-use urban redevelopment: and
WHEREAS, the City has certain finan cial constraints which effect the City's ability to
;;,, :ate funding toward redevelopment projects in the area; and
WHEREAS, the Developer (Cohen Brothers, Inc .) has experience iJ:, the development of
complex, large scale projects and has actively pursued redevelopm=: projects in the area
over the past year; and
WHEREAS, the D,,ve loper (Cohen Brothers, Inc.) has developed cx:cstruction technology
and has multiple patents pe nding for resi dential cons truction system,, applici.bl e for use in
large scale multi-family proj ects which the Developer intends to utillle if applicable in
redevelopment of the area;
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCTJL OF THE CITY OF
ENGLEWOOD, COLORADO , THAT :
SJ:J:lilmj.. _The Englewood City Co uncil here by authorizes the Rede,relo pment Cooperation
o\greement between the City and Cohen Brothers. Inc. for the redevelc,pment of the General
Iron s ite. attach ed hereto ns "Exhibit A" .
13e:d;i.im..2. The.Mayor ia authoriu<i co oucute and the City Clerk to r,tteet and seal the
¾(reement for and on behalf of the City of Eqlewood, Colorado.
ADOPTED AND APPROVED this l~th day of September, 1997.
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Loucrishia A. Ellia, City Clerk
·1, Loucriahin A. Ellis , City Clerk for the City of Englewood, Colorado , hereby certify the
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I ~ucrishia A. Ellis
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REDEVELOPMENT COOPERATION AGREEMENT
This Redevelopment Cooperation Agreement ("Agreement, is entered into this
16111 day of September, 1997 by and between Cohen Brothers, Inc ., e Colorado
Corporation ("Developer") and the ~ of Englewood, a Home Ruh:l Municipal
Corporation ("City"), under article XX of the Colorado Constitution.
WHEREAS , The City has determillled that the Jld General Iron Steel Mill site is
an urban redevelopment priority of the ~;
WHEREAS , Redevelopment of the General Iron site may include pianning, land
use and finance considerations applicable to certain properties near General Iron but
not a part of the Steel Mill site;
WHEREAS, the City enactP.CI ordinance number 33, series of 1997 establishing a
temporary suspension or moratorium o the issuance of permits and the gr,infoil of
licenses for the industrially zoned property located between Yale on the north,
Delaware on the east, Santa Fe on the west and Dartmouth on the south (the "Area"),
for a period of eight months terminating oo February 5, 1998;
Wl-lEREAS, The City has engaged Civitas to assist the City in determining
community concerns and goals, in evaluating land use and zoning issues in the Area,
and to ass ist the City in activities which wi!l lead to redevelopment;
WHEREAS, The City has particui2r interest in bringing forward redevelopment of
the Area which may include a Lightrail transit stop , new multi-family hous ing, a hotel,
neighborhood retail and significant employment related uses which are compatible with
a transit oriented, people intensive , mixed-use urban redevelopment;
WHEREAS , The City understands that public finance (e.g . tax increment bonds ,
etc .) will be essential for any redeve lo pment projects to occur, and that the formation of
Districts will be necessary to implement such ;,ublic financing ;
WHEREAS , the City has certai financial constraints which effect the City 's
ability to allocate funding toward redeve lopment projects in the Area ;
WHEREAS , The principals of the Deve loper have experience in the development
of complex large scale proje c:s , and the Developer has actively pursued redevelopment
projects in the Area over ttie past year. a d
WHEREAS , The Developer 1s Manager of Cohen Brothers Homes , LLC which
has developed construction technology a.n d ha s multiple Patents Pending for residential
co nstruction systems applicable for use 1n large scale multi-family projects which the
Developer intends to utilize as app licab le ,n redevelopment of the Area;
NOW, THEREFORE, In r.onsideratiqr of tlje above recitals, all of wh~h are expressly
incorporated into this Agreement, an~ the mutual promises and covenants of the parties
contained herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
1. TERM
The term of this Agreement shall commence on the effective date of the adopting
Ordinance approving this Agreement and shall extend for a period of five (5) years
thereafter, unless this ,~greement is earlier terminated , modified or extended as
provided for herein or by the mutual consent of the parties hereto .
2. AMENDMENT OF AG; it:EMENT
The Developer and City acknowledge that this Agreement requires a close
degree of cooperation between the Developer and the City. This Agreement may be
amended from time to time by mutual consent of the parties in accordance with the
provisions of applicable Government Code Sections.
3. COOPERATION
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The City and the Developer will work together in good faith to bring forward
mutually acceptable redevelopment proJects in the Area that will be fiscally acceptab le •
to the City and which will provide new assets for the community , and which will be
economically productive for the Developer .
4. TIME
Time :.; of the essence in this Agreement and in the redevelopment activities of
the City and the Developer contemplated herein.
5. PRIVATE FINANCE
Private financial resources made available for certain redevelopment projects by
the Developer, at his sole and absolute discretic,;i , will be impr,rtant concerning the
acceptability of such projects to the City.
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6 . PUBLIC FINAN CE
In order to rede~ projects with in the Area substantial pub lic infrastructure,
improvements and facilities,. both within and outside of the Area, must be provided .
The parties hereb acknowledge that public financing will be critical to the
financial feasibility of any cedeveloprnent projects in the Area . The City will reasonably
consider, and shall epcouir.age other governmental entities to consider, to the extent
permitted by law, proposalls by the Developer in seeking to develop and implement
public financing plans and structures provided that the City will exercise independent
judgment following all applficable City procedures and shall have made the re quisite
findings and take apprcii:il!llate steps supported by evidence that the use of public
financin g is necessary and p roper.
7. RIGHTS OF THE cm
The City reserves, in its sole and absolute discretion, all rights and authority of
the City regarding future discretionary actions .
8. DEVELOPER ACTNmES
The Developer will 'MOrk diligently and cooperatively with the City to bring forward
redevelopment opportunities and to assist the City in considering redevelopment
matters within the A.rea . The Developer 1~1 11 bring forward redevelopment projects for
the City to considN, 2.nd provide leadership with regard to these projects and their
consideration by the Cay,; ttle community and other parties . The Developer will
undertake appr.:;priate marketing and private financing activities as is warranted in the
context of specific redevelopment project proposals . The Developer will make available
personal services of D.wid Cohen to coordinate and lead the development
management activities of fhe Developer. The Developer will assemble a team of
development consultants as is reasonably appropriate for certain redevelopment
projects th at the City and Developer bring forward .
9. CITY ACTIVITIES
The City will work C:ilig e ntly and coop eratively with the Develope r to facilit ate
redevelopment projects bet n g impl emented within the Area . The City acknowledges
that rezoning , public finance. see ki ng inclus ion of the new Lightrail station , and possible
condemnation may be among the activities for the City to consider.
The City agrees to c:il igentl y pursue grants from other governmental or private
sources , or other forms of oolitical or financial support as will positively contribute to
redevelopment projects in the Area . Support rela ted to evaluation and remediation of
hazardous waste or enviro rumental conditions is of particular nerd.
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10 . CANCELLATION
This Agreement may be canceled by either party by giving ·irty (30) day notice
to the othe r party .
11. FURTHER ASSURANCES
The part ies acknowledge that the implementation of si:,ecific nedevelopme nt
projects will require consideration of a variety of actions by each party . Ea.:h of tlie
parties shall cooperate with the clher to the extent contemplated hereunder to bri ng
forward redevelopment within the Area through good faith consideration of related
actions .
12 . NO THIRD PARTY BENEFICIARIES
This Agreement is made and entered into the sole protectioo and benefit of the
parties and their successors and assigns . No other person shall! have any right of
action based upon any prov ision of this Agreement.
13 . GOVERNING LAW
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This Agreement shall be interpreted in accordance with the l\aws of the State of
Colorado . •
IN WITNESS WHEREOF, The parties have duly executed !his ~reement as of
the day and year first above written .
H \13.0UPt••BKOIMAJJC\AEDEVll.OPMENT COOP!!P.A 110N AGllfM!N'T .DOC
COHE~B OTHERS ,l?l.
a Colora Co~of1>"
av: w! L~ i
David L. Cohen , Chief Executive Officer
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