HomeMy WebLinkAbout1988-208-12/20/1988-ADDENDUM DOWNTOWN DEVELOPMENT AUTHORITY HISTORICAL OPERA HOUSE IMPLEMENTATION AGREEMENT PROPERTIES L RESOLUTION 88-208
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE EXECUTION OF AN ADDENDUM TO THE
IMPLEMENTATION AGREEMENT BETWEEN THE
CITY, THE DOWNTOWN DEVELOPMENT AUTHORITY, AND
HISTORICAL OPERA HOUSE PROPERTIES, LTD.
EXTENDING THE DATE OF COMMENCEMENT OF
CONSTRUCTION OF THE OPERA HOUSE PROJECT
THROUGH MAY 8, 1989
WHEREAS, Historic Opera House Properties, Ltd. , a Development
Corporation (the "Developer") , has proposed renovation and rehabilitation
of the properties located at 117-149 1/2 North College Avenue, Fort
Collins, Colorado (the "Project") ; and
WHEREAS, the Project lies within the Downtown Development Authority
District; and
WHEREAS, an agreement between the City, the Downtown Development
Authority, and the Developer was signed on April 21, 1987 for reimbursement
of certain funds expended for public improvements associated with the
Project; and
WHEREAS, said agreement stipulated that construction of the Project
would commence on or before January 8, 1988 (page 4 of agreement) ; and
WHEREAS, the commencement of construction was extended to July 8,
1988, by Resolution 87-182 adopted December 15, 1987; and
WHEREAS, the commencement of construction was further extended to
January 8, 1989 by Resolution 88-83, adopted May 17, 1988, which approved
an Implementation Agreement executed on October 19, 1988; and
WHEREAS, the Developer has requested an additional four (4) month
extension of the date upon which the construction of the Project must
commence, making the new date for the commencement of construction on or
before May 8, 1989; and
WHEREAS, the Board of Directors of the Downtown Development Authority
unanimously approved the extension of this agreement at its November 18,
1988 meeting.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Council hereby authorizes the City Manager to execute
an addendum to the aforementioned Implementation Agreement extending the
date for commencement of construction of the Opera House Project to on or
before May 8, 1989.
Passed and adopted at a regular meeting of the City Council held this
20th day of December, A.D. 1988.
May /
ATTEST:
City Clerk