Loading...
HomeMy WebLinkAbout394475 JOURNEY HOMES - CONTRACT - CONTRACT - 29756DEVELOPMENT AGREEMENT THIS AGREEMENT, is made and entered into this 19th day of August 2003, by and between the CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City"; and GILLESPIE FARM DEVELOPMENT COMPANY, a Colorado Corporation, hereinafter referred to as "Developer"; and NINETEENTH GREEN PARTNERSHIP, LLP, a Colorado Limited Liability Partnership, hereinafter referred to as "Owner." WITNESSETH: WHEREAS, Developer has entered into an agreement with the Owner to acquire ownership of certain real property situated in the County of Larimer, State of Colorado, (hereafter sometimes referred to as the "Property" or "Development") and legally described as follows, to -wit: A tract of land known as Maple Hill, being a Replat of the 19`n Green Planned Unit Development — Phase 1, located in the Northwest Quarter of Section 32, Township 8 North, Range 68 West of the 6th P.M., City of Fort Collins, County of Larimer, State of Colorado. WHEREAS, Developer desires to develop the Property and has submitted to the City all plats, plans (including utility plans), reports and other documents required for the approval of a final plan according to the City's development application submittal requirements master list (the "Final Development Plan Documents") copies of which are on file in the office of the City Engineer 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 Final Development Plan Documents submitted by 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: Developer or its assigns, shall be obligated to modify the point of discharge and drainage outfall from this Development to remove both points of outfall from this Development into the Canal Number 8 Ditch and connect these instead to the City master planned system. Developer shall deposit with the City as contribution in aid the sum of $9,927.60 with the City of Fort Collins Utilities, in the form of cash, bond, certificate of deposit or a bank letter of credit, which represents one hundred fifty percent (150%) of the engineer's estimate of Developer's share of the of costs related to the future modification of the storm drainage outfall pipes from this development, directing these into the City's master planned system and out of the irrigation system. This contribution shall be deposited with the City of Fort Collins Utilities prior to issuance of a Development Construction Permit for this development. In no event shall Developer's share of the cost of modification of the point of discharge and drainage outfall exceed the amount deposited. 11. In accordance with the agreement with the irrigation company and the applicable Final Development Plan Documents, the 100-year developed stormwater flow from the Development shall be detained, and these developed flows shall be released into the Irrigation Company's ditch at a rate not to exceed 10 cfs for the 100- year design storm. 12. Some lots in this Development abut certain storm drainage facilities and it is agreed that it is of the utmost importance that no storm water from said facilities enters houses built on these lots. In order to provide the assurance that houses built on these lots are constructed at an elevation that said storm water cannot enter, the Final Development Plan Documents contain specifications for the minimum elevation for any opening to each house. Prior to the issuance of a certificate of occupancy for Lots 1 through 65, Block 20, Developer shall provide certification from a professional engineer licensed in Colorado that the lowest opening to any such house is at or above the minimum elevation required on the Final Development Plan Documents. Said certification is in addition to, and may be done in conjunction with, the lot certification described in paragraph II.C.4., above. D. Streets. 1. Subject to the conditions of this Agreement, the City agrees to reimburse Developer for oversizing public street improvements along County Road 11, Country Club Road, County Road 52, Thoreau Road, Bar Harbor Drive and Maple Hill Drive for those portions of said street abutting the Property as shown on the Final Development Plan Documents. Reimbursement for County Road 11, Country Club Road, County Road 52, Thoreau Road, Bar Harbor Drive and Maple Hill Drive shall be for oversizing the street from local (access) standards to arterial and collector standards. The City shall make reimbursement to Developer for the aforesaid oversized street improvements in accordance with Section 24-112 of the Code of the City. Developer agrees and understands that the City shall have no obligation to make reimbursement payments for street oversizing unless funds for such payments shall first have been budgeted and appropriated from the Street Oversizing Fund by the City Council; and 11 Developer further understands that to the extent that funds are not available for such reimbursement, the City may not, in the absence of Developer's agreement, require the construction, at Developer's expense, of any oversized portion of streets not reasonably necessary to offset the traffic impacts of the Development. Developer does hereby agree to construct the aforesaid oversized street improvements with the understanding that Developer may not be fully reimbursed by the City for the cost of such construction. Developer further agrees to accept payment in accordance with Section 24-112 (d) of the Code of the City as full and final settlement and complete accord and satisfaction of all obligations of the City to make reimbursements to Developer for street oversizing expenses. It is anticipated by the City that the City's reimbursement, in accordance with Section 24-112 (d), would not be less than fifty percent (50%) of Developer's actual expenses incurred and will be calculated in accordance with the formula as set forth in Section 24-112 (d). 2. it is understood that the improvements that are to be constructed in the public right-of-way as described in this Section II(D) are "City improvements" (as defined below) and, as such, any contract for the construction of the same must be executed in writing. If the cost of such improvements exceeds the sum of Thirty Thousand Dollars ($30,000.00), the contract for the construction of the same must be submitted to a competitive bidding process resulting in an award to the lowest responsible bidder; and evidence must be submitted to the City prior to the commencement of the work showing that the award was given to the lowest responsible bidder. If the cost of such improvements exceeds Fifty Thousand Dollars ($50,000.00), the contract for the construction of the improvements must be insured by a performance bond or other equivalent security. For purposes of this paragraph, the term "City improvements" shall mean either (1) existing improvements owned by the City that are to be modified or reconstructed, or (2) any improvements funded in whole or in part by the City. 3. The ultimate street improvements to County Road 11 as shown on the Final Development Plan Documents will not occur until Phase 4 of this Development, as shown on the Final Development Plan Documents, at which time the City will construct said improvements, including the private drive connections needed to serve the existing homes on the west side of County Road 11. Any delay by the City in constructing such improvements shall not be a cause for delay in the issuance of building permits or certificates of occupancy for all or any portion of the Development, provided that the lot(s) for which a building permit is requested has otherwise met the criteria contained in Section 3.3.2(D) of the Land Use Code. 4. Developer shall provide to the City Street Oversizing Fund the sum of $225,141.44, prior to the issuance of any building permits for this Development. This amount is the estimated cost for Developer's obligation for the off -site roadway improvements for County Road 11 south of Richards Lake Road/County Road 52 to County Road 9, and County Road 9 south to International Parkway. 12 ATTEST: As & 11114ZJ City Clerk 1//8;-1�,«-�/' APPROVED AS TO CONTENT: 0&yK'k6jvx-- City Engine r APPROV AS TO FORM: eputy City A omey THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation John . Fishbach, City Manager DEVELOPER: GILLESPIE FARM DEVELOPMENT COMPANY, 21