HomeMy WebLinkAbout1999 Resolution No. 103• RESOLUTION NO. J{JJ
SERIES OF 1999
A RESOLtmON ENCOURAGING THB ENGLEWOOD ENVIRONMENTAL.
FOUNDATION TO OBTAIN A BACK-UP CONTRACT WITH LEGACY PAR'.\'NERS AS A
RESIDENTIAL DEVELOPER.
WHEREAS, The Eapwoocl E11vinmm1ntal Foundation wu formed to relitve the
burdena which would otherwill be .....,.ed by the City o{Enpewood, Colorado, in
collll8Ctio11 with the ermnmmental remediation, land uae PWIIWII and preparation m
redevelopment o{ the Cinderella City llhopping center; and
WHEREAS, the En&lewoocl Envimlmental Foundation (EEF) wu formed to provide
1upport for the redevelopment and enhana,ment of the City's commercial environment and ia
a oeparate and diatinct corporation; and
WHEREAS , the City Council o{ the City of Enpwoocl, Colorodo, authorized EEF to
conclude 11010tiatio111 "Car sale" with Lopey u residential de"loper for $4.75 million dollan
on October 4, 1999; and
WHEREAS , EEF 111g0tiated in good faith with Legacy but wu unable to come to terms;
and
WHEREAS, the EEF was encourapd to conclude ll010tiatio111 with Trommell Crow u a
reeidential developer for $5 million dollars on November 22, 1999; and
Wh"EREAS , Legacy Partnen indicated that they wished to be in a back-up poaition to
Trammell Crow should the parties be unable to come to agreement:
NOW , THEREFOP.E , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT:
Scs:tiwl.l-Tbe City Council of the City of Englewood , Colorado , hereby encouraps the
EDJ,lewood Environmental Foundation to obtain a back-up conta::t with Legacy Partners as
a reaidential developer .
~ Thia resolution of eupport in 110 way waives or delegates the City'■ regulatory
powers , dutie ■ and reoponsibilities with reapect to zoning and govenm.ontal iaa ue ■.
ADOPTED AND APPROVED this 6" day of December, 1999.
~!JIJ.-~✓
, ........ ~-............ ~ .. &ban ill a 11'1111 ra,J of IINolution 'lo.fa Serial of 1999. -. rlJ
w:riahia A Bllill
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HMM .aid
cc : GuySeln
• lmpectioa Paiod b four (4) -211 followiDa 1111 lime Em:
pva ll0Cii:e dial Lepcy is ill !Int polilioa ("EEF Nala").
• l.epcy DD11t oblain an approved Site Plan five (5) _.
l'ollowing Ille EEF Nolice .
• l.epcy IIIIISI clolc six (6) llllllllba lbllowillC tbe EEF Nollce.
• Lep:y mull apply for buildiDg pcnaill widlia nilll:ty (90) days
fallowing Sile Planwuvai,
• All due dilipm:e items (tide. survey. soils. enviroamelllal.
cu:.) odler lbaD Ciiy approvals llllllt be completed widlin aixly (6())
days fo1lowms EEF NOlicc.
• Lcpcy will be provided willl DDlice of all public Sllldy
ICUiom aDd odler pablic meeliDp blltWffll Trammell Crow aDd 1b1:
City .
• If Legacy bas DOI moved ialo firJI position by May 1, 2000,
cilllcr party may 1fflllUllle tbe Legacy backup COlllrlCt in lblir sole
disaelioa.
v~ truly yours,
BERENBAUM, WEINSIIJENlt& EAsoN, P.C .
J.t1h.~tu..u.. ~\. (j.,_
H. Micbael Miller
_______ .__.., ..... _ .... ,--....... 1.,.,,.,
•• TOTAL PAGE.005 ••
• COUNCIL COIIIIUNICATION
Oat. Agendallam SUlljlot App!OVII ot l'N0lutlan
authorizing Englnood
Envlronmlnlal F<uldatlon, Inc.
December 6, 1999 11 c I 10 negollat8 • backup poaitlon
wtthl.egac:yPartnelw
lnlllatacl By
Englewood Environmental Foundation (EEF)
, ..,,Socm:e
Bob Simpson, EEF Board of Dtrec!ors
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
On October 4, 1999, City Council authorized the Englewood Environmental Foundallon (EEF) to conctude
negotiations with Legacy Partnens, LLC u residential developer at CltyCanter Englewood for a Ale price
of $4,750,000 . EEF and Legacy were unable 10 come 10 deal terms . On November 22, 1999, Ctty Council
authorized EEF to conclude negotiations wtth Trammell Crow Residential for tha r9lklentlal portion of the
CltyCenter project.
RECOMMENDED ACTION
Staff recommends approval of the resolution.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
Currently negotiations with Trammell Crc,w Residential are progressing favorably and Staff antldpates
meeting all of the deadlnes establish'8d Y.ith Trammell Crow. However, CouncH does recognize that the
residential element of the CityCenter proje-.:t is critical to success of the entire project. Aa a contingency,
EFF seeks Council's support to obtain a backui: contract with Legacy Partners as a residential developer
for the CltyCenter project.
FINANCIAL IMPACT
No direct financial impacts have been identified.
UST OF ATTACHMENTS
Proposed Resolution