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HomeMy WebLinkAboutINTERSTATE LANDS FIRST ANNEXATION - 34-88 - LEGAL DOCS - SUPPORTING DOCUMENTATIONk Exhibit B ANNEXATION AGREEMENT (First Annexation) THIS AGREEMENT is dated this day of 1989, by and between THE CITY OF FORT COLLINS, Cq ORADO, munic- ipal corporation ("the City"), and OVERLOOK FARM, INC., ("Over- look Farm"), a Delaware Corporation. W I T N E S S E T H: WHEREAS, Overlook Farm owns approximately eighteen (18) acres of land north of Prospect Road and west of Interstate High- way 25, more particularly described on Exhibit X attached hereto and incorporated herein by this reference (the "Property"); and WHEREAS, the parties hereto mutually desire that the Prop- erty be annexed into the City; and WHEREAS, the parties hereto desire to set forth certain of the rights and obligations of the parties with respect to subsequent development of the Property following annexation. NOW, THEREFORE, in consideration of the mutual promises of the parties and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree as follows: 1. Annexation. Overlook Farm has petitioned the City for annexation of the Property. The annexation will become effective upon final approval by the City Council, recording of the annexa- tion plat and annexation ordinance with the Larimer County Clerk and Recorder and the execution and recording of this Agreement. 2. Applicability of Agreement. If the City approves the annexation of the Property, such annexation shall be subject to the provisions of this Agreement. 3. Compliance with Ordinances. Overlook Farm will comply with all ordinances, criteria, resolutions and policies of the City as now exist or are amended or adopted in the future, including those related to the development and zoning of the Property, except as expressly modified by this Agreement. 4. Storm Drainage. a. It is anticipated that a number of struc- tures and other improvements related to the manage- ment of storm drainage will be required to be located upon or adjacent to the Property. Such • 0 improvements benefiting the basin as a whole will be paid through storm drainage basin fees collected in the affected basin or through other mechanism, including, without limitation, special improvement districts. Storm drainage basin fees are generally based upon runoff contribution to the basin. Gen- eral factors considered in the computation of such fees include land use, land area, basin fee base rate and detention storage. Detention storage requirements will be determined at the time of site development and will be based upon special site development drainage conditions and special basin conditions. The Property is situate in the Cooper Slough and Box Elder Creek drainage basins and shall be subject to all storm drainage fees appli- cable thereto. b. Construction of improvements benefiting the Cooper Slough storm drainage basin as a whole shall be funded through storm drainage fees col- lected for the Cooper Slough basin. If develop- ment on the Property should require the construc- tion of these improvements before the City has so constructed the same, it shall be the responsibility of Overlook Farm to construct and pay for such improvements. If such improvements are constructed by Overlook Farm, the City will make reimbursement to Overlook Farm for the cost of such improvements in accordance with Section 26-545 of the Code of the City. C. Repair or replacement of structures, if any, at the crossing of Box Elder Creek and the Lake Canal, will be funded utilizing such Cooper Slough basin fees as are available. If development on the Property requires such repair or replacement before the City has constructed the same, it shall be the responsibility of Overlook Farm to construct and pay for such improvements. If such improve- ments are constructed by Overlook Farm, the City will make reimbursement to Overlook Farm for the cost of such improvements in accordance with Sec- tion 26-545 of the Code of the City. d. The construction of a new bridge or box culvert at the intersection of Prospect Road and Box Elder Creek will be funded by adjacent property owners and the City. It is customary that each property owner with street frontage on each corner of the bridge or box culvert is responsible for 6 • a twenty-five percent (25%) of the local street stan- dard portion of the cost of the new bridge or box culvert. It is the responsibility of the property owner, whose development requires the improvement first, to construct and pay for the full improve- ment with possible reimbursement as follows: A request for street oversizing reimbursement for the oversized portion of the bridge or box culvert may be submitted to the City as provided in the City Code. Further, the City will, if authorized by the City Code then in effect, assist Overlook Farm in obtaining reimbursements from nonparticipating property owners abutting the improvement when those properties develop. The City's assistance in this connection will be deemed as an accommodation, and the City shall not be liable to Overlook Farm in the event that it should fail, for any reason what- soever, to accomplish such reimbursement. The City's obligations in regard to obtaining such reimbursements shall be governed in accordance with the terms of the reimbursement agreement(s), if any, subsequently executed between Overlook Farm and the City. e. Channel improvements along Box Elder Creek will be funded by adjacent property owners and the City. The adjacent property owners will be respon- sible for their proportionate share of costs based upon each property owner's proportionate contribu- tion to the historic flow. For purposes of this paragraph, historic flow shall be defined as the flows in Box Elder Creek in a one hundred (100) year storm based upon the existing conditions as of the date of this Agreement. The City will be responsible for those costs associated with flows in excess of said historic flow, which costs shall be paid from available storm drainage basin fees collected by the City. For the purpose of deter- mining the apportionment of costs among the various adjacent property owners, it shall be the responsi- bility of the City to conduct such engineering studies as are necessary to make such determina- tion. Such studies shall be conclusive as to the proper apportionment of costs among said property owners. Street Improvements. a. A frontage road has been constructed through the Property. If the cost to Overlook Farm associated with the construction of said frontage 3 road to collector standards is greater than the cost of construction of a standard local street, then Overlook Farm may request street oversizing reim- bursement in connection therewith. b. The adjacent property owners shall be responsible for improvements to Prospect Road, including, without limitation, arterial standard curb and gutter and arterial standard sidewalk or other sidewalk design approved by the City, along their frontage to a width adequate to facilitate the anticipated traffic volumes and ensure the safety of motorists and pedestrians anticipated with each phase of development. C. The Code of the City requires developers to construct, at their sole expense, all off -site street improvements when they develop property that does not have direct access to an improved arterial street. Such off -site street improvements must be constructed and paved to a width of at least thirty-six (36) feet and in accordance with the City's Code and standards for the construction of arterial streets. The Director of Engineering shall determine the type and extent of off -site street improvements required to be constructed based upon a mutually acceptable and agreed upon traffic analysis and upon an assessment of the pavement condition. With respect to the Property which is the subject of this Agreement, if it is determined by the Director of Engineering that less than one-half (1/2) of the traffic generated by the proposed development utilizes Prospect Road to the west of the Property, then Interstate Highway 25 will be considered the appropriate "street" to which off -site street improvements must be con- structed. Strictly as an accommodation, and without creating any duty or liability on the part of the City, the City will, if authorized by the City Code then in effect, assist the developer in obtaining reimbursements for appropriate off -site street improvements constructed by the developer from other property owners as subsequent development occurs. The City's obligations with regard to obtaining such reimbursements shall be governed in accordance with the terms of the reimbursement agreement(s), if any, subsequently executed between the developer and the City. 6. Access. The major points of access for the Property, as reflected on the proposed Master Plan dated April 5, 1988, are 4 • • acceptable to the City subject to a City -conducted traffic analysis confirming that said access points are appropriately located for traffic safety and efficiency. 7. Utility Services. a. Electric service for the Property will be provided by the City. b. Sanitary sewer service will be provided by the City or by the Box Elder Sanitation District. C. Water service shall be provided initially by the East Larimer County Water District. When the City is able to provide adequate water service to the Property, water service shall be provided by the City. The City and the East Larimer County Water District will agree on the method of trans- fer of service to any affected users. If such transfers are necessary, they will be accomplished at no additional cost to the user. d. Without assuming any obligation to do so, it is the City's present intention to extend a six- teen (16) inch water main along Prospect Road to Summit View Drive within approximately five (5) years from the date hereof. If development of the Property requires said line to be extended prior to its construction by the City, Overlook Farm will be responsible for constructing such extension. Overlook Farm's share of the cost of such extension shall be the normal cost of con- struction of a twelve (12) inch water line, as such cost is determined by the Director of Utility Ser- vices. The determination by the Director of Util- ity Services shall be conclusive as the normal cost of such construction. The City will pay for over - sizing said line in excess of a twelve (12) inch line and, without creating a duty but strictly as an accommodation to Overlook Farm, will assist in the obtaining of reimbursements from other non- participating property owners who subsequently tap directly onto such line. The City's obligations with regard to obtaining such reimbursements shall be governed in accordance with the terms of the reimbursement agreement(s), if any, subsequently executed between the developer and City. 8. APPROPRIATION CONTINGENCY. ALL PAYMENT OBLIGATIONS OF THE CITY PURSUANT TO THIS AGREEMENT ARE EXPRESSLY CONTINGENT UPON THE CITY HAVING FIRST BUDGETED AND APPROPRIATED FUNDS THEREFOR. 5 9. Assigns. As used herein, the term "Overlook Farm" shall also mean any of the transferees, successors or assigns of Over- look Farm, and all such parties shall have the right to enforce this Agreement and shall be subject to the terms of this Agree- ment as if they were original parties hereto. RIGHTS TO SPECIFIC REIMBURSEMENTS OR OTHER PAYMENTS CONTAINED HEREIN OR ARISING HEREFROM SHALL ALWAYS BE TO OVERLOOK FARM UNLESS SPECIFICALLY ASSIGNED TO ANY OTHER PERSON OR ENTITY. 10. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado. Venue shall be in the District Court in and for Larimer County, Colorado. 11. Recording. This Agreement shall be recorded in the office of the Clerk and Recorder of Larimer County, Colorado, and shall constitute a covenant running with the Property. 12. Headings. The headings set forth in this Agreement for the different sections of this Agreement are for convenience only and shall not be construed as an enlargement or an abridgement of the language of the Agreement. 13. Code Changes. References in this Agreement to any provisions of the City Code are intended to refer to any subsequent amendments and/or revisions to the City Code that replace the revisions referred to herein. Such amendments or revisions shall be binding upon Overlook Farm. 14. Amendments. This Agreement may be amended only by subsequent writing of the parties or their successors, transfer- ees or assigns, provided that no such amendment shall be valid until all persons or entities having an interest in the Property subject to the amendment have duly executed such amendment agree- ment. IN WITNESS WHEREOF, the parties hereto have executed this Agreement the day and year first above written. TTEST �� Wanda Kraj ice City Clerk THE CITY OF FORT COLLINS, COLORADO A Municipal Corporation By: Steven C. Burkett, City Manager 2 APPROV�i AS TO FORM: W. Paul Eckman Assistant City Attorney STATE OF COLORADO ss. County of Larimer ) Subscribed and sworn to before me this / % day of W, 1989, by Steven C. Burkett, City Manager, and WYanda Kraj' ek, City Clerk of the City of Fort Collins. Witness my hand and official seal. Notary Public My Commission Expires: OVERLOOK FARMS, INC. A Delaware Corporation By: Michael S. Byrne, President ATTEST: Secretary ' ( v. ,.Ac; STATE OF SELA - ) ss. County of Subscribed and sworn to before me this c7f'-` day of 1989, by Michael S. Byrne, President, and Y ., Secretary of Overlook Farm, Inc. Witness my hand and official seal. N ary Public My Commission Expires: 010589/whm/lannex.agr 7 EXHIBIT "X" LEGAL DESCRIPTION OF REAL PROPERTY OWNED BY OVERLOOK FARM INC. INCLUDED IN THE ANNEXATION: A tract of land situate in the southeast quarter of section 16 and the northeast quarter of section 21, township 7 north, range 68 west of the 6th P.M., Larimer County, Colorado, which considering the south line of the southeast quarter of said section 16 as bearing N 88 20' 30"W and with all bearings contained herein relative thereto is contained within the boundary lines which begin at the south quarter corner of the said section 16 and run thence S 88 20' 30" E 925.38 feet to the True Point of Beginning; thence N 18 02' 24" E 1650.00 feet; thence S 26 00' 51" E 1650.00 feet; thence S 58 16' 00" W 105.60 feet; thence N 88 20' 30" W 200.19 feet; thence N 00 13' 00" E 166.35 feet; thence N 88 20' 30" W 410.00 feet; thence S 00 13' 00" W 200.00 feet; thence N 88 20' 30" W 494.03 feet; thence S 32 17' 08" E 72.33 feet; thence N 88 20' 30" W 80.49 feet; thence N O1 39' 30"E 30.00 feet to the Point of Beginning, less a tract of land described as follows: A tract of land situate in the southeast quarter of section 16, town- ship 7 north, range 68 west of the 6th P.M., Larimer County, Colo- rado, which considering the south line of the southeast quarter of said section 16 as bearing N 88 20' 30" W and with all bearings con- tained herein relative thereto is contained within the boundary lines which begin at the southeast corner of said section 16 and run thence N 88 20' 30" W 1521.97 feet and again N 01 39' 30" E 30.00 feet to the True Point of Beginning; thence N 46 39' 24" E 141.42 feet; thence N O1 39' 20" E 455.56 feet; thence N 05 14' 10" E 157.09 feet; thence along the arc of a 449.26 foot radius curve to the right a distance of 493.65 feet, the long chord of which bears N 43 38' 05" E 469.19 feet; thence N 82 02' 00" E 97.63 feet to a point on the northeasterly boundary of Interstate Lands First Annexation; thence along said northeasterly boundary S 26 00' 51" E 83.89 feet; thence S 82 12' 17" W 113.98 feet; thence along the arc of a 369.26 foot radius curve to the left a distance of 405.75 feet, the long chord of which bears S 43 38' 05" W 385.64 feet; thence S 05 03' 53" W 142.46 feet; thence S O1 39' 20" W 455.57 feet; thence S 43 20' 36" E 141.43 feet; thence N 88 20' 30" W 280.00 feet to the Point of Beginning. Containing 17.9806 acres.