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HomeMy WebLinkAbout025 - 03/16/1993 - AMENDING CITY CODE PERTAINING TO DEVELOPER REIMBURSEMENT AGREEMENTS ORDINANCE NO. 25, 1993 OF THE COUNCIL OF THE CITY OF FORT COLLINS AMENDING CERTAIN PROVISIONS OF THE CITY CODE PERTAINING TO DEVELOPER REIMBURSEMENT AGREEMENTS WHEREAS, the City Council has approved certain amendments to Chapter 22 of the Code of the City of Fort Collins pertaining to special improvement districts; and WHEREAS, one of the amendments approved by the Council is the deletion of Section 22-37 of the Code, which presently provides a procedure whereby the City may enter into reimbursement agreements with property owners within a special improvement district who have paid the cost of district improvements which especially benefit other properties within the district that are not assessed or that are outside the district; and WHEREAS, the purpose of deleting such Code section is to avoid the over- assessment of any properties within special improvement districts; and WHEREAS, upon the deletion of this section of the Code, property owners in a special improvement district will be unable to accept additional assessments against their properties which represent the cost of improvements that benefit other properties; and WHEREAS, such property owners may still wish to directly pay for such improvements and seek the City's assistance in obtaining reimbursement from the benefitted property owners at such time as those other properties are developed or otherwise obtain direct access to the constructed improvements; and WHEREAS, there are certain other sections of the City Code which provide for the possible reimbursement of such costs; and WHEREAS, such other sections of the City Code do not authorize reimbursement for any amounts paid in connection with the formation or administration of a special improvement district; and WHEREAS, the City Council wishes to amend those sections of the Code in order to enable the developers of property to recover, through reimbursement agreements, all costs incurred in constructing improvements which especially benefit other properties, including that portion of such costs which is attributable to the formation or administration of special improvement districts. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1 . That Section 26-372(b) of the Code of the City is hereby amended to read as follows: Sec. 26-372. Reimbursement agreements. (b) The amount of the reimbursement assessed by the city for each adjacent property as it develops may be based on the original cost of design and construction of the lines plus an adjustment for inflation based on the construction cost index for Denver, Colorado, as published monthly by "Engineering News Record." In no case shall the front foot charge reflect less than the original cost of installation through the undeveloped properties. The costs of design and construction of the improvements may include engineering fees and any costs incurred by the developer for the formation or administration of a special improvement district. Reimbursement of the installing developer is contingent on actual collection of the front foot charge by the city. Section 2. That Section 26-546(b) of the Code of the City is hereby amended to read as follows: Sec. 26-546. Assessment for off-site stormwater improvements. (b) The amount of the repayment assessed by the city for each property as it develops shall be based on the original cost of the design and construction of the stormwater facilities plus any reasonable amount mutually agreed upon between the original installer and the city to reflect the effects of inflation. However, in no case shall the charge reflect less than the original cost of the installation through the undeveloped properties. Adjustments for inflation may be based on the construction cost index for Denver, Colorado, as published monthly by the Engineering News Record. " The costs of design and construction of the improvements may include engineering fees and any costs incurred by the developer for the formation or administration of a special improvement district. Section 3. That Section 29-678(6) of the Code of the City be amended in relevant part to read as follows: Sec. 29-678. Required improvements prior to issuance of building permit. (6) Streets and alleys. All subdivisions must have access to an improved arterial street or to a street funded for improvement as an arterial street. Any subdivision which does not have adequate access to an improved arterial street or a planned arterial street is required to improve the impacted off-site streets as determined by the city to include, as a minimum, a thirty-six-foot- wide paved section on an adequate base for the ultimate design of the street as designated on the Master Street Plan or as determined by the Director of Engineering. A waiver to these requirements may be granted by the Director when, in the Director's determination, the existing arterial is in substantial compliance with the criteria for arterial streets. When any person constructs a street, alley or path through undeveloped areas or areas that may be redeveloped to serve the property or constructs such improvements along the 2 perimeter of the property, the entire cost of such construction shall be the responsibility of such person. If, within twelve (12) months of the completion and acceptance by the city of such improvements, the developer installing such improvements has entered into a reimbursement agreement with the city in the manner prescribed by this section, then, at the time such property is developed or redeveloped and access to such improvements is accomplished, by the city may collect a charge per front foot from the abutting developer prior to the issuance of any building permits for the abutting property; provided, however, that the city shall not attempt to make such collection until the reimbursement agreement is timely and properly prepared, executed and delivered to the city. If the front foot charge is collected, the city shall reimburse the installing developer to the extent of such collection after deducting a service charge of three (3) percent to cover administrative costs. All costs for the construction of street improvements must be fully paid by the installing developer before such person shall be entitled to reimbursement under any agreement established hereunder. The amount of the reimbursement assessed by the city for each adjacent property as it develops shall be based on the original cost of design and construction of the improvements plus an adjustment for inflation based on the construction cost index for Denver, Colorado, as published monthly by "Engineering News Record. " In no case shall the front foot charge reflect less than the original cost as submitted by the installing developer and approved by the Director of Engineering. The original cost of design and construction shall mean the cost of financing, engineering, construction and any other costs actually incurred which are directly attributable to the improvements, including any costs incurred for the formation or administration of a special improvementdistrict. The city's obligation to reimburse the installing developer shall be contingent upon the city's actual collection of the front foot charge from the abutting developer. In order to obtain approval of a reimbursement agreement from the city, the installing developer shall provide the Director of Engineering with copies of the following, after acceptance of the improvements: . . . . 3 Introduced, considered favorably on first reading, and ordered published this 2nd day of March, A.D. 1993, and to be presented for final passage on the 16th day of March, A.D. 1993. ;ayylor 4-4v, ATTEST: Passed and adopted on final reading this 16th day of March, A.D. 1993. Mayor ATTEST: CittyClerk 4