HomeMy WebLinkAboutNORTH COLLEGE MARKETPLACE - Filed OA-OTHER AGREEMENTS - 2010-08-11TIMOTHY J. DOW, MBA, JD
PATRICIA T. DOW, CPA, JD, LLM*
MAYO SOMMERMEYER, LLC
OF COUNSEL
Via email
James A. Martell
Liley, Rogers & Martell, LLC
300 South Howes Street
Fort Collins, CO 80521
THE DOW LAW FIRM, LLC
ATTORNEYS AND COUNSELORS AT LAW
P.O. BOX 1578
FORT COLLINS, COLORADO 80522-1578
(970)498-9900
FAX: (970)498-9966
E-MAIL: dow@dowlawfuncom
October 16, 2008
Re: LWIC / North College Marketplace
Dear Jim:
# 7 CLOCK TOWER SQUARE
323 SOUTH COLLEGE AVENUE
FORT COLLINS, COLORADO 80524
* ALSO ADIVIMED TO PRACTICE: IAW IN NLBRASKA
I have followed -up with Butch on the status of the pedestrian bridge. Apparently, this was
discussed with the LWIC Board at its September meeting. The Board has given a tentative
approval to the plan in concept with the shortest walkway along the ditch maintenance road for
access. Obviously, this is subject to review and approval of the final design and plans for the
pedestrian bridge. We will want to ensure that the grades are appropriate and that safety fences,
etc. do not interfere with regular ditch company maintenance and operations. LWIC will require
a one time crossing fee of $15,000 and an annual use fee of $1,500. It is our understanding that
this pedestrian bridge will be owned and maintained by the City of Fort Collins. It will be
necessary for us to have a signed Crossing Agreement as a part of this process.
Thank you.
Yours very truly,
THE DOW LAW FIRM, LLC
Timothy J. Dow
TJD/ap
Cc: Barry Anderson
No Text
POUDRE VALLEY RURAL
ELECTRIC ASSOCIATION, INC.
P.O. BOX 272550
FORT COLLINS, CO 80527-2550
Bus. Phone 970-226-1234
800-432-1012
October 3, 2008
Ayres and Associates
Attn: Lindsey R. Chalfant
3665 John F. Kennedy Parkway #200
Fort Collins, CO 80525
Poudre
Valley
7649 REA PARKWAY
FORT COLLINS, CO 80528
FAX 970-226-2123
www.pvrea.com
RE: NORTH COLLEGE MARKETPLACE — WILLOX LANE AND BLUE SPRUCE;
TOWNSHIP 8, RANGE 69, SECTION 36
Dear Lindsey:
In response to your letter received August 21, 2008, Poudre Valley REA will give approval of
said retaining wall with the following conditions:
(1) The retaining wall is not constructed greater than four feet in height from ground level.
(2) The retaining wall will not impede the right of access for ingress and egress over the
lands.
(3) The retaining wall will be constructed with all applicable laws, and safe work practices
adhered to.
If you have any further questions or concerns, please contact me at (970) 282-6438.
Sincerely, .& &76e—
Rod Bledsoe
Engineering Representative
H:TEnginarng12008\RDB1AYRES RETAINING WALL CONDITIONS LTR.doc
AN EQUAL OPPORTUNITY EMPLOYER Your Touchstone Energy' Partner ��(
MEMORANDUM OF UNDERSTANDING
This Memorandum of Understanding ("Memorandum") is between the CITY OF FORT
COLLINS, COLORADO, a Colorado municipal corporation ("City,,); the FORT COLLINS
URBAN RENEWAL AUTHORITY, a statutory urban renewal authority ("Authority"); and
1908 NORTH COLLEGE, LLC, a Colorado limited liability company, and its successors and
assigns ("Developer").
BACKGROUND
A. Developer is the contract purchaser of approximately 23.32 acres of real property
depicted on the attached map as Parcels A through C (the "Contract Property"). Developer is
attempting to purchase additional properties consisting of six (6) parcels constituting
approximately 2.98 acres and depicted as Parcels D through I on the attached map ("Additional
Properties'.
B. Developer is interested in developing a significant retail center on the Contract
Property and any of the Additional Properties which may be needed and can reasonably be
acquired, such retail center to generally consist of one or two anchor tenants, small -shop retail
space and retail and/or restaurant pad sites, along with other complementary uses (the "Project").
C. The City has established the North College Avenue Urban Renewal Plan (the
"URA Plan"), and the Project is located within the boundaries of the URA Plan area.
D. Representatives of Developer and various members of the City's administrative
staff have had numerous discussions about the potential Project and believe that development of
the Project would be mutually beneficial by providing a needed major retail project on North
College Avenue and within the URA Plan area which, in turn, would result in tax increment
revenue flowing to the Authority from the Project.
Loveland Commercial/City MOU 1
3/25/09 (Revised 3P25/08 — 5:00 p.m.)
E. Given the substantial investment in acquisition of the Contract Property, the
potential need to assemble one or more of the Additional Properties, costs of demolition and
significant public infrastructure/improvement costs associated with the Project, Developer and
the City have identified a number of key issues which will be necessary to resolve in order for
the Project to be a feasible development.
F. The parties acknowledge that there are a number of actions which must be taken
before development of the Project can occur, including without limitation, approval of the
Project in accordance with all applicable requirements of the City's Land Use Code (and
approval of any modifications or rezonings which may be required) and negotiation and
execution of one or more agreements among Developer, the City and the Authority regarding the
responsibilities of each in connection with Project requirements and costs. However, the parties
believe that an important initial part of this public/private partnership is establishing key
concepts that can be used as a basis for negotiation and execution of one or more future, detailed
agreements among the City, Developer and the Authority.
CONCEPTS
In consideration of the foregoing background recitals, Developer and the City staff agree
on the following key concepts in connection with the development of the Project by Developer:
1. Intersection Improvements
1.1 The improvement of the intersection of North College Avenue and Willox
Lane to City standards (the "Intersection"), which has been identified in the North
College Corridor Plan, the URA Plan, and the North College Avenue Access
Management Plan as a high priority, should be a City capital project.
Loveland Commercial/City MOU 2
305/08 (Revised 3/25/08 — 5:00 p.m)
1.2 The various components of the Intersection improvements include right-
of-way acquisition, design and construction as described below ("Intersection
Improvements"):
(a) Right-of-Wav Acquisition. Right-of-way acquisition will be
required to construct the Intersection Improvements in accordance with all City
requirements therefor, as well as to meet City Code requirements for right-of-way
and utility easements adjacent to the Project (referred to together herein as
"ROW" . The City staff agrees that acquisition of ROW should be a
responsibility.
(b) Desie 1 Activities. Developer will provide a preliminary traffic
analysis for the Project, conceptual design drawings of the Intersection
Improvements sufficiently complete to develop a ROW plan, an estimate of cost
to complete such improvements and a ROW plan detailing the legal descriptions
required for all ROW acquisition for the Intersection Improvements. The design
activities are anticipated to take approximately ninety (90) days to complete.
(c) Construction. As a capital project, the construction of Intersection
Improvements should be a City and/or Authority project, including letting of all
contracts therefor and management thereof.
(d) Timing, The City staff will use its best efforts to complete
construction of the Intersection Improvements concurrently with the opening of
the major anchor tenant in the Project.
2. Other Public Infrastructure/Imnrovements. It is anticipated that there will be
certain other major Project public infrastructure/improvements costs related to storm drainage
Loveland Commercial/City MOU 3
3/25/08 (Revised 325/08 — 5:00 p.m.)
and outfalI improvements, wetlands mitigation, water and sewer line extensions and any other
necessary utility infrastructure improvements (the "Remaining Infrastructure Improvements").
Developer and the City staff agree to work together in good faith to identify the Remaining
Infrastructure Improvements and to calculate an estimated cost for the same.
J. Revenue/Expense Proiections. Developer and City staff agree that it is critical to
generate realistic revenue and expense projections connected with the Project and acknowledge
that it will take the best efforts of both parties to do so. It is envisioned that the lead role for the
following categories of costs will be assigned as follows:
3.1 Developer agrees to provide to the City detailed information on property
and sales tax revenues anticipated from the Project.
3.2 Developer agrees to provide to the City information regarding the
necessary assemblage of property for the Project, including without limitation, all costs of
acquisition of the Contract Property and the actual or estimated costs to acquire the
Additional Properties, to the extent any of such properties may need to be acquired, and
estimated demolition costs associated therewith.
3.3 Developer and the City staff agree to work together on developing cost
projections for the Remaining Infrastructure improvements.
4. Financing of Public Infrastructure Improvements.
4.1 The City and/or the Authority should pay the costs of the acquisition of
ROW except for the local portion of the ROW abutting the Contract Property.
4.2 The City and/or the Authority should pay the costs of the design,
construction and project management of the Intersection Improvements and may pay for
certain Remaining Infrastructure Improvements. Such financial participation by the City
Loveland Commercial/City MOU 4
3/25/08 (Revised 3M/08 — 5:00 p.m.)
and/or the Authority is subject to an analysis of total revenues anticipated from the
Project to determine what City and/or Authority financial participation can be supported,
and an analysis of Project costs (including acquisition of the Contract Property,
demolition and on -site and off -site public improvements but exclusive of all other design
and construction costs to develop the Project).
4.3 There is presently no City funding available for the Intersection
Improvements or the Remaining Infrastructure Improvements other than street oversizing
funds. Thus, it is envisioned that the City and/or the Authority may issue bonds or utilize
other public financing mechanisms, based on tax revenue flowing from the Project to the '+
Authority, to pay the cost of any such improvements that the City and/or the Authority
agrees to fund pursuant to 4.2 above and which cannot be funded by street oversizing
monies.
4.4 Prior to the City and/or the Authority incurring any significant costs for
ROW or easement acquisition pursuant to the concepts set forth in this Memorandum,
evidence will be required that Developer has signed a contract with one major retail
anchor to locate and develop such anchor store within the Project in the near future. Prior
to executing any construction contract for any of the public infrastructure improvements
which the City and/or the Authority agrees to fund, the City and/or the Authority will
need to have an agreement with Developer, including additional assurances and/or
guarantees from Developer that the Project, or key components thereof, will be timely
developed.
5. City Gateway. Developer and City staff agree that a public gateway to North
College Avenue would be beneficial to the area as a whole and consistent with adopted plans for
Loveland Commercial/City MOU 5
3/25/08 (Revised 3/25/08-5:00 p.m.)
North College Avenue. The City staff agrees to analyze the feasibility of the fixture acquisition
of one or more of the parcels of property in the vicinity of the Contract Property for such purpose
or for the purposes of providing wetland mitigation, wildlife mitigation and/or open space for the
benefit of the general public and the North College area of the City.
6. Grape Street/Perez Properties. In the event that Developer is able to acquire one
or more properties to the south of Grape Street, depicted as Parcels G through I on the attached
map (the "Grape Street Properties") and/or the properties depicted as Parcels E and F on the
attached map (the "Perez Properties"), the City and/or the Authority may pay a portion of the
cost of such acquisition.
7. Non -Binding Memorandum. This Memorandum is not intended to be, nor is it, a
binding agreement between the parties, but rather an expression of the understanding of the
parties on key concepts which the parties can use in negotiating future, detailed agreements in
connection with the Project. This Memorandum is not intended to be legally enforceable and
nothing herein shall give rise to any remedies by either party. Accordingly, Developer
acknowledges that it will be proceeding at its own risk in making any decisions or expenditures
related to the provisions of the Memorandum and that it will not seek reimbursement for any
such expenditures from the City or the Authority or damages of any kind whatsoever if the City
decides not to proceed in the manner contemplated herein.
8. Cooperation. The parties understand that in the course of the processing of the
annexation, zoning or rezoning, master plan and annexation and development agreement
documents, additional issues will need to be addressed and the parties intend to work together in
good faith in an effort to timely resolve such issues in a manner satisfactory to both parties. The
parties also understand that proceeding with some of the concepts expressed herein will require
Loveland Commercial/Ciry MOU 6
305/08 (Revised 3/25/08 — 5:00 p.m.)
approval of the City Council of the City ("City Council") and that such approval is entirely
discretionary with the City Council.
9. Annual Appropriation. Any financial obligations of the City which may arise
from this Memorandum are subject to annual appropriation by the City Council in its sole
discretion.
DATED this Z ) � lr. day of 2008.
CITY OF FORT COLLINS, COLORADO,
a Colorado municipal corporation
By:
Darin A. Atteberry, City anager
FORT COLLINS URBAN RENEWAL AUTHORITY,
a statutory urban renewal authorit
By:
D A. �Atteberry, Executive ctor
1908 NORTH COLLEGE, LLC,
n
Loveland Commercial/City Mou 7
3/25/08 (Revised 3/25/08 — 5:00 p.m.)