HomeMy WebLinkAbout2024 Resolution No. 0331
RESOLUTION NO. 33
SERIES OF 2024
A RESOLUTION AUTHORIZING AN ASSIGNMENT OF THE
AUGUST 4, 2000 CITY CENTER GROUND LEASE TO NEW
ENGLEWOOD, LLC
WHEREAS, on August 4, 2000, Englewood Environmental Foundation, Inc.
(“EEF”) granted a 75-year ground lease for Englewood City Center area to Weingarten
Miller Englewood Joint Venture (hereafter “Ground Lease”); and
WHEREAS, the grant of this Ground Lease raised sufficient funds to make
significant improvement to City Center area, including the refurbishment of an existing
portion of Cinderella City for use as Englewood Civic Center and Englewood Public
Library; and
WHEREAS, Weingarten’s interest in the Ground Lease was acquired by PWR17
– 691 W. Hampden Ave, LLC (“PWR17”) via Confirmation Deed dated August 22,
2018; and
WHEREAS, EEF was dissolved in 2023, and the City of Englewood (“City”)
acquired EEF’s interest in the Ground Lease via Quitclaim Deed dated September 23,
2023; and
WHEREAS, on or about October 31, 2024, PWR17 notified the City of its intent
to assign the Ground Lease to New Englewood, LLC; and
WHEREAS, pursuant to Article VII, Section 3 of the Ground Lease, Tenant
PWR17 may assign the lease “with the prior written consent” of Landlord City, “which
consent may not be unreasonably withheld”; and
WHEREAS, the Ground Lease provides that should Landlord City fail to
approve or disapprove the proposed assignment within 30 days, “the Transfer shall
deemed to be approved”; and
WHEREAS, the City has studied the proposed assignment of Ground Lease and
City Council desires to approve said assignment to New Englewood, LLC, so that it can
assume the lease and be in a position to make significant and meaningful improvements
to the safety, viability, commercial areas and housing stock of City Center area in
Englewood.
.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF ENGLEWOOD, COLORADO, AS FOLLOWS:
Docusign Envelope ID: 1B893316-8844-4CA5-AD73-C85ED6C012C3
2
Section 1. The Englewood City Council hereby approves the transfer and
assignment of the August 4, 2000 Ground Lease to successor Tenant New Englewood,
LLC, as described in Article VII, Section 3 of the Ground Lease.
Section 2. The Mayor, Mayor Pro Tem (in the Mayor’s absence), and/or City
staff are hereby granted the authority to take all actions necessary to implement the
provisions of Section 1 above.
ADOPTED AND APPROVED this 25th day of November, 2024
Othoniel Sierra, Mayor
ATTEST:
Stephanie Carlile, City Clerk
I, Stephanie Carlile, City Clerk for the City of Englewood, Colorado, hereby
certify that the above is a true copy of Resolution No 33, Series of 2024
Stephanie Carlile
Docusign Envelope ID: 1B893316-8844-4CA5-AD73-C85ED6C012C3