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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