HomeMy WebLinkAbout1986 Resolution No. 017I
RES OL UT I ON NO. ;r/_
~1 r l1._·i, of 19 t, ___L__f-
RE SOL UT I ON OF 11.0UCEMENT FOR I NDUSTR IA L DEVE \'ELO Pl'.E NT
REVENUE BONDS FOR TH E ACQU I S IT ION OF LAND AND
CONS TRU CT I ON AND EQU I PPING OF A BU I LDING FOR A WHOLE SA\.E
GO ODS AND S ERVICES FACILITY FOR ENGLEWOOD JOINT VENT URE
WHEREA S , th e C ity o f Englew ood, County of Ar apah oe ,
S tate o f Co l orado (t h e "Ci ty") i s authorized b y the toun t y
and Municipa l i ty Deve l opme nt Revenu e Bo n d Act , c onsti tut i ng
T,tle 29, Art,cle 3, Part l, C .R.S., as amended (the "Act "),
~o !1na~ce one or mo re proJe cts, 1ncludin9 an y la~d ,
~J. ld1 ng, or c t.her 1 mprovem ents and all nece ssa r y and
a ppurtenant, re a l or personal prope rtie s s uitable for
:ia nufa c tur1n g, 1 nduEtrial, cor.-.:-,er cial, or business
~11t.erpr1ses; and
WHE REAS, he City is f u rther author,=ed by the Act t o
i ssue 1tz reve~ue bonds or other obl1gat1ons f o r the purp ose
o ! d e fr ayi ng the c ost of f i n an cing any such p1 ·oject; and
h--:--:::r:.EAS, r ep r ese n tatives of Eng l e wooC. J o int Venture, a
Cclo rad o joi nt ven t u r e compri sed o! Os pre y Development
Co rpora t ion and Buyer 's Clu b Realty Corpo ration (the "Use r "),
ha~e met w i t h off i c,als of t he CJty and hav~ advised t he City
o f the interest o f the User 1n t hE acau1sition o f land a nd
co n :.ruct !on and e-:;p.11ppi n g of a bL:ilding to be used a s a
wholesale goods and serv i ce s facility known as Union Hall
"5 uye!:s Club 1
', as mo re f ully described in Exhibit A here t o
( ~he "ProJect "), subJect t o the 1,·i ll i n gn e ss of the Ci ty to
!1 n a nce t}1e Project b y th e issuance of industrial d evelopmen t
revenu e b o nd s or o t h e r ob l iga t i o ns pursu a n t to t he Ac t ; and
WHERE AS, the Ci ty ha s con si d e r e d t he p ro p osal of the
User a nd has concluded tha t the econom i c b e nef i t to the City
will be subst a ntial and it wi s h es to p r oceed with t h e
financi n g o f the Pro Jec t ; and
WHEREA S , t he ac t ion h ere in contemp l ated i s not
prohibited by t h e Charter or an y ordinance s of the City .
BE IT RESOLV ED BY THE C,TY COUNC I L OF THS C ITY OF
E!,GL E\·IOOD, COLORJ-.DO,
Section l. l n order t o induce t }1e Use r to complete the
ProJe c t w1th1 n the City, the C1 t y Counc i l h e reby exp~esses
1t s intent t o take all steps n ecessary o~ adv is abl e to effec t
the 1 ssua~ce of industrial deve l opment revenue bo:1ds or o ther
o bl!oat 1 cns 1n a max i mum a ggregate pri n cipal amou~t not
exceeding $6 ,000 ,000, or such l e sser amount a s sha l l be
mutually agreed upon t o fina n ce the Project.
Sec t ion 2. Pr i o r t o exe c ution of su c h ne c e E5s r y
f 1nanc1 n 9 d o c um en ts a s s hall be mu tua l ly a gr e ed u pon in
c o nne c ti o n ;.·1 t h t h e Pr o j e c t a nd 5 c;c h b o nd s or o ther
o~l 1 g n ti o ns, 6 u c h d oc u men t s will be su b ject to authorization
b y Or dina nc e of the C i ty Council pursuant to law and a ny
o rd i n a nces or rule£ of the City. The de t ermina t ion of the
C i t y Co u n c il wh e t her to approve the final is s ua nc e of the
bo 11 cic s h a ll b e b cs ed u p o n the fina n cial p os iti o n of the Us er
a nd o t he r f a cto rs de em ed ma terial by the City Cou ncil.
Sec t i on 3. The U ser s h all agree to provide for the
p a y men t o r r e1 mbu r semen ;: o f all ex pen ses incurred or to be
incu r red b y t he Ci ty rela t e d to the P ro j e c t .
Sec t i on 4 . This Reso lution is su b ject to the condition
t ha t t h e i n du st r i a l deve l opme n t re v e n ue b o nd s f o r the Project
sh al l be is su ed on or p rio r to a date 90 da y s from the date
o f t his Re sol u t i o n . lf such b o nd s are not issued by such
d a te, t h is ~eso lution s ha ll te rm inate .
Sec t ion 5 . Th e Use r 's d e velopmen~ of the Project shall
b e in a cco rdanc e wi t h current z oni ng ordi n an ce s , s ubdivision
r e guiations a:1 d all c t.h er developme n t requirement s.
Se c tion 6 . No t hing contained in th i s Res o lution shall
cons titute t he d ebt o r i n deb ted n e ss o f the C i ty within the
me a ni ng of .th e City Ch arter or the Constitution or statutes
of t h e Sta t e o f Co l ora do , n or g i ve r ise to a pecun iary
l ia b il i ty o ! t h e City o r a charge a g a i n s t its general credit
or tax i ng p o wers.
A DOP T CD A ND APPROV CD th is 1 5 t h d av of Ma y, 1qRi;
Mayor'~ 0-:::cJ¾,;
!SE hL)
Attest:
1 , P a tr i cia H . Cr o~, City Cle rk of t he City of En g lewood,
Co l orado , he r e b y ce r ti f y th e a b o ve a n d for e q o in q is a true and
c omp l c,t e c opy o f Re s o lution No, .f.+--• S e ri es of 1986,
VtiM.Lu ;,___ vJ. G...J
Pa tr i c i a H. Cr ow
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EXHIBIT ;...
Desc r,ption o f the Project:
The P ,·o Ject cor s ists of a n approxima tel y 103,000 square
!crt f acil1 ty to be co n st ructed and equipped as a wholesale
9 oo dz and se rv 1c e s fa ci lity, and t o be l o cat ed at the
sou the ast corner o f Hnmpd en and S anta Fe in the City, and
more f ully descr 1 bed 1n the ap p l ica tion submitted by the Use r
to the C1t y, which a ppl i ca t1on 1 s 1nc orporated h erei n by this
!·eference:.
-5 -
Rrro n or ADOl'T I ON
o r l t-:JL'C rnJ:t.'T RJ:S Cl l,L'T ION
REG AR DISG 1'0 ~TS~El>'T IAL TUN CT l 0 1' BOND S
AS Rf QL'lfJ..D BY S[CT l 01' 24 •3 2 ·16 0P., C .R.S .
!. J SSl lJt,G A\lfl\Ohln' OR ASSIG~'I E
(t1 ) Ci:" f l n r l 1-...,·n11cl
Kam e
Ac!d r e55
(c ). ! 11;·• r11 I . Ot 1~ ~:a"Cf
ls !>u i n g Au tho rity Officer
(1'=• an d Title)
2. 8 0 !,'D COL1'SEL r IR.~
(n ) 1'1 :t;,; fu,d· :111d C.11 1 \ cl I
Add re5a
(c) C r," ,,n· \', ,Tc,h11 -;o n
Individu al Responsible
Attorney
( d) 71,l -11 1,(l
Telephone Num b er
Cd) 797.71,no
Te lephooe Num ber
3 . PROJ t CT loll I CH l S Sl'BJtCT OF l l>'DU CE~.I:~'T RE SO LUT ION
( 8 ) !~ '\' ( I ''· CI 1]1' l r1111 ) w, .. l H "l'Dr,dr•o bn DU\" I nr 1 ('\..'l l('d f r, 1 ("I ra d 1, Hnl 1 f l
~bt u;e ~~d loc8tJ on or p u rpose
(b ) 1 n ·l
I ni t i a l o . .-ne r, User or Benefic i a r y of Project
(c) Type o f bonds to be iss ue d (check one belo\,i):
tu in c r emco t
ind us t r ia l developmen t
single !a!Dily mortgage
multif e=lly hou sing
50l(c )(3)
4 . A.~OL'>'T OF INITIAL ALLOCATI ON TD BE USED (lf appllcable, include
alloc ations assigned to Project from other issuing authorities and attac.b
schedule setting forth 1.ist of asslgnments): ~ 2 166 QQ1 QQ
5. DATE OF ADOPTION OF JND UCEK!:NT RESOLUTION :_~:;'" 1 5 1986
(Unh r,s combined with alloc ation from ■tate;.iide balance. bonds must be
lssued wlthin 90 days of above date or inltal allocation relinquished.)
To the best of my knowledge, the foregoing i.n!ormation and the
at t a c.hmen ts hereto are true and correct .
(Signed) £~-.k h, O.-a,;
i.;uing ~hority Officer (listed
1.u No. l(c) above)
Mov )5 , 19 8&
Dat e
RlQ U1 RlD A--l ACtw:NTS
• Cert l \ i •d c op y of l l>'D UCE K!Xl Rl:SDWTIDN
-Sc.h e du le o( AssJJnme nts 1 if a pp li cab l•
DLG·J60A·l986
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RJ:Q L1:ST f(l~ AL LOC ATION !'R OH
STAT[lil Dt BAI.A.~CE fDR NONLS5UfflAL
r u t;cTlON BONDS •
1. l ~SL'lNG ALTl lOR l TY
2.
J .
4.
(a ) __ ~....,,__..cu_,_=..u......,~----------------------
t\a.:n e
(b) 31,f ){I ~·1 11lh 1 1,,tl St ll \l ,
Add r e s a
( C) l !J!'\'Jl\' Qt Is '-'·,y n r
l >SU !ng Au th o r lly o r !J e er
O,a:o o a nd Tit l e )
BCl ~ll CCI L1'HL fl RH
(o ). r111 :1i. R ,lk l, C:i mr!11.•l l
t-:ft me
(d) -t.'
Tele phon e Number
(b) .'.',l0 /1r rc, 1 r1 1..1r , 707 ]7th S tH·t l , Prnn.:r , C:cdo rmlt• 8 020 2
Add r e:u
(c.) C1i.:1•1•rv \'. ".l'-'"""l,"-nr-'''-''"~-----(d ) ~0 7 -2400
ln di vid u el Responsib l• Telephon e Numbe r
At to rn e y
PROJEC T FOR ~'HICH AL WCATJON RI QL'ESTE D
( a ) Buv c,r I s Cl lib 10911 \..',·~ t l!a mpdc:,n IIVL"nuf' 1 Enrl 1• ... 'C10 d
1'atur c and l ocet ion o r purpo s~
(b) 1.:1 1·J{'\,.,""d 1r In t \'
I ni tial 0-.. ·n er, \,;~t r o r Be ne ficiary of Project
(r:) Ty p e of b o nds to be using all oc at i on (check one below):
t B..X increment
indu strial d e v e l opment
,ingle femil y mo rt ga ge
mu It if amily housin g
SO!(c)(J)
A.~oti!\T OF ALWCATION R.I:Q\-1:STED: r,3 61!1 QQQ 00
rn w1JJO
5. DATE OF ADO?T ION OF !NDUCE!'IENT RrSOLl!J'!ON:~f~\a'-v~l~S~l,._\""'8'-'-• _______ _
I un de r s tand t hst epplicetions 1,h icb a r e incomp l ete, incl udin g required
et.te chm en t,1 wil l not be processed for al locations from the statewide balance
to i ssue n ones!!.e Dt.!al functi o a bo nd!; and
To the best of my knowledge, the fo re going info rmatioa and the
at-:.a chme nts he r eto are true and correct.
(Signed) ,£?«-<t z:: c12t:,
!~suing-Authori ty Officer ( listed
RIQL'IR.I:D ATTA CH:1E ~'TS : in No . l(c) above)
Certified c opy of !ND UC El'IE~T R£S 0Ll!J'JO N u .r equired t,y
Section 24 -32 ·1609(l)(b), C.R .S .
Pr elimin ary Bond Counsel OP I NIO N as required by Section 24-3 2 -1609(1)(1),
C.R. 5.
If a p pliceblo, preli minary Bo nd Counaol OPINION u required by
Se c tion 24·J2 ·1 406(2)(e ), C.R .5 .
If r~qu es t ia for es sent ial function bonds which under part 14 of title
2t.. of arti c le 32 , C .R .S . are aho "p rivate a ct i ~Hy b onda," y ou are not
re q u ired t o f ile an a dd i tional reque st form with the De pa r trr.en t.
:n.c-160B-l966