HomeMy WebLinkAboutPALMER RETAIL - MINOR SUBDIVISION - 8-97 - LEGAL DOCS - LEGAL DOCUMENTS (3)DEVELOPMENT AGREEMENT
THIS AGREEMENT, made and entered into this,& day of199_Z, by
and between the CITY OF FORT COLLINS, COLORADO, a Municipal Corporation,
hereinafter referred to as the "City'; and PALMER PROPERTIES LLC, a Colorado limited
liability company, hereinafter referred to as the "Developer".
WITNESSETH:
WHEREAS, the Developer is the owner of certain real property situated in the
County of Larimer, State of Colorado, (hereafter referred to as the "Property") and legally
described as follows, to wit:
PALMER RETAIL MINOR SUBDIVISION, being a Replat of Lots 5 and 6 of Feeney
Subdivision, a vacated portion of Mitchell Drive Right -of -Way, and a part of Lot 5,
Observatory Heights; located in the Northwest 1/4 of Section 36, Township 7 North,
Range 69 West of the 6th P.M., City of Fort Collins, County of Larimer, State of
Colorado.
WHEREAS, the Developer desires to develop the Property and has submitted to
the City a subdivision plat and/or a site plan and landscape plan, a copy of which is on file
in the office of the City's Director of Engineering and made a part hereof by reference; and
WHEREAS, the Developer has further submitted to the City utility plans for the
Property, a copy of which is on file in the office of the Director of Engineering and made
a part hereof by reference; and
WHEREAS, the parties hereto have agreed that the development of the Property
will require increased municipal services from the City in order to serve such area and will
further require the installation of certain improvements primarily of benefit to the lands to
be developed and not to the City of Fort Collins as a whole; and
WHEREAS, the City has approved the subdivision plat and/or site plan and
landscape plan submitted by the Developer subject.to certain requirements and conditions
which involve the installation of and construction of utilities and other municipal
improvements in connection with the Property.
NOW, THEREFORE, in consideration of the promises of the parties hereto and
other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, it is agreed as follows: