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HomeMy WebLinkAbout1998-119-08/18/1998-TERMINATING THE JULY 3, 1997 IGA WITH LARIMER COUNTY AND THE DDA RELATING TO THE CONSTRUCTION AND OP R. f RESOLUTION 98-119 OF THE COUNCIL OF THE CITY OF FORT COLLINS TERMINATING THE JULY 3, 1997, INTERGOVERNMENTAL AGREEMENT AMONG THE CITY OF FORT COLLINS, LARIMER COUNTY AND THE DOWNTOWN DEVELOPMENT AUTHORITY RELATING TO THE CONSTRUCTION AND OPERATION OF A NEW PARKING STRUCTURE TO BE LOCATED AT THE SOUTHEAST CORNER OF LAPORTE AVENUE AND MASON STREET AND AUTHORIZING A NEW INTERGOVERNMENTAL AGREEMENT FOR THE SAME PURPOSE WHEREAS, the City, Larimer County (the "County") and the Fort Collins Downtown Development Authority (the "DDA") share a common interest in providing adequate parking to meet the needs of their respective constituents,and it is in the best interests of these constituents that the City,the County and the DDA work cooperatively toward that end; and WHEREAS, the City, the County and the DDA have previously agreed to certain shared responsibilities to enable the construction, operation and maintenance of a parking structure to be located on Block 21 of the City according to the recorded plat thereof(`Block 21")in downtown Fort Collins to the east across Mason Street from the Justice Center, consistent with the City's Civic Center Master Plan (the "Civic Center Parking Structure"or the"Parking Structure"); and WHEREAS, on June 17, 1997, the Council adopted Resolution 97-91, authorizing an Intergovernmental Agreement by and among the City of Fort Collins, Colorado, the County of Larimer, Colorado and the Fort Collins, Colorado Downtown Development Authority, which was signed and effective on July 3, 1997 (the "IGA"); and WHEREAS,the terms and conditions of the IGA have been substantially met to date; and WHEREAS, in connection with the lease Certificates of Participation approved on second reading by the Council in Ordinance No. 128, 1998,on August 4, 1998,City staff has recommended that the parties execute an updated and accurate intergovernmental agreement regarding the Civic Center Parking Structure, based on the actual plans, financial transaction, and related information now available; and WHEREAS, as of the Council's consideration of this Resolution, both the Downtown Development Authority and Larimer County have approved the Termination of Intergovernmental Agreement by and among The City of Fort Collins,Colorado,The County of Latimer,Colorado,and The Fort Collins,Colorado Downtown Development Authority,attached hereto as Exhibit"A"and incorporated herein by this reference,and the Intergovernmental Agreement by and among the City of Fort Collins, the County of Latimer, and the Fort Collins Downtown Development Authority, attached hereto as Exhibit"B"and incorporated herein by this reference(the"Updated IGA"); and WHEREAS,the Updated IGA is consistent with and supports the actions taken by the City to date to design, finance, and construct the Civic Center Parking Structure, and with the arrangements made by the City in that regard; and WHEREAS, the City, the County and the Downtown Development Authority are authorized to enter into intergovernmental agreements to provide cooperatively any function,service or facility,as provided in Article II, Section 16 of the Charter of the City of Fort Collins and Section 29-1-203, C.R.S. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the Mayor be,and hereby is,authorized to execute the Termination of the Intergovernmental Agreement by and among The City of Fort Collins, Colorado, The County of Larimer, Colorado, and The Fort Collins, Colorado Downtown Development Authority,attached hereto as Exhibit"A,"and incorporated herein by this reference,subject to such minor modifications in form or substance as the Mayor, in consultation with the City Manager and the City Attorney, may deem necessary to effectuate the purposes of said agreement. Section 2. That the Mayor be, and hereby is, authorized to execute the Intergovernmental Agreement by and among the City of Fort Collins,the County of Larimer, and the Fort Collins Downtown Development Authority, attached hereto as Exhibit `B," and incorporated herein by this reference, subject to such minor modifications in form or substance as the Mayor, in consultation with the City Manager and the City Attorney, may deem necessary to effectuate the purposes of said agreement. Passed and adopted at regular meeting o]:ayor=:;Z ay of August, A.D. 1998. ATTEST: City Clerk i . • Exhibit A TERMINATION OF THE INTERGOVERNMENTAL AGREEMENT BY AND AMONG THE CITY OF FORT COLLINS, COLORADO, THE COUNTY OF LARIMER, COLORADO,AND THE FORT COLLINS, COLORADO DOWNTOWN DEVELOPMENT AUTHORITY WHEREAS, the City of Fort Collins, Colorado (the "City"), the County of Larimer, Colorado (the "County"), and the Fort Collins, Colorado Downtown Development Authority (the "DDA"), with proper authority of each of their governing bodies, have previously entered into an Intergovernmental Agreement By and Among The City of Fort Collins, Colorado, The County of Larimer, Colorado, and The Fort Collins, Colorado Downtown Development Authority, effective July 3, 1997 (the "IGA"); and WHEREAS,the IGA was recorded in the real property records of the Larimer County Clerk and Recorder regarding certain real property owned by the City (the "Site"), on July 8, 1997, at Reception Number 97043785; and WHEREAS,the parties hereby waive any claims or entitlements that have accrued or may in the future accrue to them as a result of the execution,or performance or requirements of the IGA. The undersigned, for good and valuable consideration, receipt and sufficiency of which are hereby acknowledged, agree that the Intergovernmental Agreement By and Among The City of Fort Collins, Colorado, The County of Larimer, Colorado, and The Fort Collins, Colorado Downtown Development Authority, and recorded on July 8, 1997, is hereby terminated, and shall have no further force and effect. IN WITNESS WHEREOF,the parties hereto have executed this agreement the day and year of last signing, as set forth below. THE CITY OF FORT COLLINS, COLORADO A Municipal Corporation By: Ann Azari Mayor Termination Agreement Page 1 STATE OF COLORADO ) ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this day of 1998,by Ann Azari, Mayor of the City of Fort Collins. Notary Public My Commission Expires: ATTEST: APPROVED AS TO FORM: City Clerk Assistant City Attorney STATE OF COLORADO ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this day of 1998, by Wanda Krajicek, City Clerk of the City of Fort Collins. Notary Public My Commission Expires: THE COUNTY OF LARIMER, COLORADO By: Cheryl Olson Chair,Board of Commissioners Termination Agreement Page 2 STATE OF COLORADO ) ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this day of 1998, by Cheryl Olson, Board of Commissioners of Larimer County. Notary Public My Commission Expires: ATTEST: APPROVED AS TO FORM: Deputy County Clerk County Attorney STATE OF COLORADO ) ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this day of 1998,by Deputy County Clerk. Notary Public My Commission Expires: THE FORT COLLINS, COLORADO DOWNTOWN DEVELOPMENT AUTHORITY, a body corporate and politic By: Kermit Allard Chair, Board of Directors Termination Agreement Page 3 STATE OF COLORADO ) ) ss. COUNTY OF LARIMER ) The foregoing instrument was acknowledged before me this day of 1998,by Kermit Allard,Chair,Board ofDirectors,Fort Collins Downtown Development Authority. Notary Public My Commission Expires: Termination Agreement Page 4 • • Exhibit "B" INTERGOVERNMENTAL AGREEMENT BY AND AMONG THE CITY OF FORT COLLINS, THE COUNTY OF LARIMER,AND THE FORT COLLINS DOWNTOWN DEVELOPMENT AUTHORITY THIS INTERGOVERNMENTAL AGREEMENT is made and entered into this_day of August, 1998,by and among the City of Fort Collins, Colorado,a municipal corporation,having its principal offices at 300 LaPorte Avenue,Fort Collins, Colorado 80521 (the "City"),the County of Larimer, Colorado, a political subdivision of the State of Colorado, having its principal offices at 200 West Oak Street, Fort Collins, Colorado 80521 (the "County"), and the Fort Collins, Colorado,Downtown Development Authority,a body corporate and politic established pursuant to Title 31,Article 25,Part 8 of the 1973 Colorado Revised Statutes, as amended,having its principal offices at 10 Old Town Square, Fort Collins, Colorado 80524 (the "DDA"). RECITALS WHEREAS,all three parties hereto are governmental entities authorized by law to enter into intergovernmental agreements to carry out their respective purposes; and WHEREAS,the County is in the process of designing for construction a justice center(the "Justice Center") in the central business district of the City on the northeast comer of Block 31 of the City according to the recorded plat thereof("Block 31"); and WHEREAS, current parking facilities within the City's central business district are insufficient to meet all the competing needs for parking in this area, and the construction of the Justice Center will increase the need for additional parking; and WHEREAS, the City, the County and the DDA share a common interest in providing adequate parking to meet the needs of their respective constituents, and it is in the best interests of these constituents that the City, the County and the DDA work cooperatively toward that end; and WHEREAS, the City, the County and the DDA have previously agreed to certain shared responsibilities to enable the construction, operation and maintenance of a parking structure to be located on Block 21 of the City according to the recorded plat thereof("Block 21") in downtown Fort Collins to the east across Mason Street from the Justice Center,consistent with the City's Civic Center Master Plan(the "Civic Center Parking Structure" or the "Parking Structure"); and WHEREAS, at the time of this Agreement, the parties have terminated that certain Intergovernmental Agreement by and Among The City of Fort Collins, Colorado, The County of Larimer,Colorado and The Fort Collins,Colorado Downtown Development Authority effective July 3, 1997, and recorded on July 8, 1997, at Reception Number 97043785 ("the Initial IGA"); and Page 1 of 6 WHEREAS, the parties desire to replace the Initial IGA with this Agreement, in order to clarify and update the terms of their mutual agreements regarding the funding, construction and operation of the Civic Center Parking Structure; and WHEREAS, the City is in the process of arranging for Lease Certificates of Participation to finance the development and construction ofthe Parking Structure,including among other aspects, the lease of the underlying real property to the Fort Collins Capital Leasing Corporation("FCCLC") by the City, the assignment of certain rights of FCCLC to a Trustee under the terms of a trust indenture between them, and the lease of the Parking Structure site by the City from the FCCLC; and WHEREAS, the City has requested proposals for, and has selected, a contractor for the design and construction of the Parking Structure; and WHEREAS,on June 30,1998,the Board of County Commissioners ofthe County approved a proposed conceptual design for the Parking Structure,as the same was presented by the City("the Conceptual Design"); and WHEREAS,on July 2, 1998,the Board of Directors of the DDA considered and approved said Conceptual Design; and WHEREAS,the City and the County have negotiated a long-term Parking Structure License Agreement, granting to the County the right to purchase up to 240 parking permits in the Civic Center Parking Structure upon its completion(the "License Agreement'); and WHEREAS,pursuant to the License Agreement, the County has agreed to pay to the City the amount of$4,344,000.00 for use in the design and construction of the Parking Structure; and WHEREAS,the License Agreement further provides for equal sharing by the City and the County of the costs of operation and maintenance of the Parking Structure through July 31, 2040; and WHEREAS, the parties hereto have negotiated the agreement set forth hereinafter to document their respective rights and responsibilities in connection with the development,operation, maintenance and use of the Civic Center Parking Structure, in addition to the License Agreement; and NOW THEREFORE, by and in consideration of the above premises and the mutual promises contained herein,and other good and valuable consideration,the receipt of which is hereby acknowledged, the parties hereto agree as follows: Page 2 of 6 1. PARKING STRUCTURE The intended location of the Parking Structure is generally on the western half of Block 21 along Mason Street between LaPorte Avenue and Mountain Avenue, in the current location of the existing"LaPorte/America" surface parking lot. In order to meet current and anticipated long-term parking needs, the parties envision that the Parking Structure will consist of approximately nine hundred and five(905)parking spaces. In addition to meeting all building and zoning requirements of the City,the Parking Structure will be generally compatible with the character of downtown Fort Collins, the Justice Center and the City's Civic Center Plan and Downtown Parking Plan, as provided in the Conceptual Design that has been approved by all of the parties. 2. DEVELOPMENT AND CONSTRUCTION OF PARKING STRUCTURE 2.1 The City shall arrange for the design and construction of the Parking Structure consistent with the Conceptual Design, shall provide the site location for the Parking Structure,and shall arrange for the financing of the same through the execution and delivery of certificates of participation(the "Certificates"), to be secured by an assignment of lease rentals, lease-lease back arrangements with FCCLC,and other related arrangements determined by the City to be appropriate in connection therewith. 2.2 The parties anticipate that construction of the Parking Structure will begin in late 1998, and be completed in late 1999,and that such construction will take place in coordination with construction of the Justice Center,which is planned to commence in early 1999 and be completed in mid-year of the year 2000. 3. FINANCING OF THE PARKING STRUCTURE 3.1 Pursuant to the License Agreement,the County is required to pay to the City the sum of Four Million Three Hundred and Forty Four Thousand Dollars ($4,344,000.00) (the "County Payment") toward the development and construction of the Parking Structure, in accordance with the City's request and instructions and the County License. As set forth therein, the County Payment represents the present value of the County's share of costs for the Parking Structure, plus the County's portion of the property tax increment that reverts to the County and the City beginning September 8, 2006. 3.2 The DDA and the City agree that for each fiscal year after 1998 through 2006 the amount of Three Hundred Thousand Dollars($300,000.00)in tax increment revenues shall be paid by the City toward the semi-annual lease rentals due under the Certificates(the"Lease Payments"). 3.3 Using the funds provided for the same under Section 3.2 combined with additional funds to be budgeted and appropriated annually by the City, the City shall make such Lease Payments on such schedule and in such manner as may be required during term of the Certificates. Page 3 of 6 4. OPERATION OF THE PARKING STRUCTURE 4.1 The City,its successors and assigns,shall be responsible for performing or providing for all operations and maintenance of the Parking Structure,and shall conduct the same in a manner consistent with applicable laws,regulations,and City policies. The City,its successors and assigns, shall be prohibited from changing the use of the Parking Structure to any use other than parking and related uses, or other uses not inconsistent with the use of the Parking Structure for such uses, during the term of the License Agreement,which shall expire on July 31, 2040. 4.2 The City and the County each agree to pay the regularly established fee for all Parking Structure parking permits obtained by them,at the rate and in the manner established by the City and consistent with the parking policies and practices of the City's Parking Service office applicable to the general public. 4.3 Except as otherwise required by the City, in its discretion, for the operation and maintenance of the Parking Structure,the parties shall not be entitled to conduct activities or make use of the Parking Structure in any manner not generally appropriate to and afforded to public users of the facility under applicable laws, regulations and policies, and parking management practices. The City shall have the right,but not the obligation,to promulgate rules and regulations for the use of the Parking Structure. The License Agreement requires that such rules and regulations shall not unreasonably impair the County's intended use of the Parking Structure during the term of that License Agreement,and further requires that the City provide to the County notice of the proposed terms of any such rules and regulations prior to their adoption, so as to provide the County a reasonable opportunity to review and comment thereupon. 4.4 At all times during the operation of the Parking Structure as a public parking facility, no fewer than three hundred(300) spaces shall be allocated in the Parking Structure for use by the general public,either through the sale of parking permits therefor,or for use on an hourly basis. The parties acknowledge that at this time it is not anticipated that the location of individual permit parking spaces will be designated and/or marked in the Parking Structure, and that a permit shall entitle the holder thereof to free parking in the Parking Structure, subject to availability of space. 4.5 The County shall be entitled to purchase up to two hundred and forty(240)parking permits, in accordance with the License Agreement and in accordance with Section 4.2, above. 4.6 The City shall be entitled to purchase up to two hundred and forty (240) parking permits in accordance with Section 4.2, above. 4.7 In the manner and as provided in the License Agreement, the County and the City shall share equally the costs of operation and maintenance of the Parking Structure throughout the term of the License Agreement. Page 4 of 6 5. GENERAL PROVISIONS 5.1 The obligations of the parties hereto are subject to the annual appropriation of funds sufficient and intended therefor. 5.2 This Agreement shall not constitute or give rise to any interest in real property, and is not intended to be appurtenant to or burden or benefit any real property. Accordingly,the parties agree that this Agreement shall not be recorded as an encumbrance against any of the real property referred to herein. 5.3 This Agreement shall be governed in all respects by the laws of the State of Colorado. In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction,such holding shall not invalidate or render unenforceable any other provision of this Agreement. IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and year first above written. THE CITY OF FORT COLLINS, COLORADO A Municipal Co . n By: Ann Azari Mayor ATTEST: APPROVED AS TO FORM: City Clerk Assistant City Attorney THE COUNTY OF LARIMER, COLORADO By: Cheryl Olson Chair, Board of Commissioners Page 5 of 6 ATTEST: APPROVED AS TO FORM: Deputy County Clerk County Attorney THE FORT COLLINS, COLORADO DOWNTOWN DEVELOPMENT AUTHORITY, a body corporate and politic By: Kermit Allard Chair, Board of Directors Page 6 of 6