HomeMy WebLinkAboutROSETREE VILLAGE PUD - Filed OA-OTHER AGREEMENTS - 2003-11-12AGREEMENT
This Reimbursement Agreement ("Agreement") is made and
entered into this �� day of 1996, by and between
THE CITY OF FORT COLLINS, COLORADO, a municipal corporation,
hereinafter referred to as "the City," and Rose Tree Ltd.
Partners, hereinafter referred to as "the Developer."
WITNESSETH:
WHEREAS, Section 29-678 of the Code of the City of Fort
Collins ( "Ordinance") permits any person who has constructed
street improvements through previously underdeveloped areas of the
City to submit an application to the City for ci Reimbursement
Agreement which would provide that such person would be reimbursed
for a portion of the construction cost of the street improvements
whenever any property specially benefitted by said improvements
thereafter begins to first utilize said improvements by making
direct connection thereto; and
WHEREAS, the Developer has submitted an application to the
City for a Reimbursement Agreement as a result of its construction
of the north side of Richmond Drive and related improvements
("Improvements") at the following location:
Rose Tree Village at Cunningham Corner
P.U.D.; Fort Collins, Colorado
Said improvements are more particularly described on the map
attached hereto as Exhibit "A" and incorporated herein by this
reference; and
WHEREAS, the Developer has provided the City with the names
and the legal descriptions of all properties specially and
directly benefitted I the installation of said improvements, all
as set forth on Exhibit "B" attached hereto and incorporated
herein by this reference.
NOW, THEREFORE, it is agreed by and between the parties
hereto as follows:
1. That the approximately 170 linear feet portion of
Richmond Drive(50 feet from flowline to flowline) and related
improvements instailed by the Developer have been inspected and
found to be in accordance with the Cit-y standards and
requirements.
2. The Developer has presented the City with adequate
documentation to establish that the total cost actually paid by
the Developer for the construction of the Improvements was
$6,282.65 (see Exhibit "C" attached hereto and incorporated herein
by this reference).
3. That, at such time as any of the property specially
and directly benefitted by the installation of the Improvements
should commence activities to utilize the Improvements, the City
may attempt to collect a charge from the owner of such property in
order to reimburse the Developer for some of the costs associated
with the construction of the Improvements and a percentage added
to recognize the effects of inflation. This inflation factor
shall be calculated using the construction cost index for Denver
as published in the Engineering News record (ENR) of October 9,
1994, and the same index published in the ENR of the month
preceding the application for a building permit or tap. Should any
property anticipated herein to directly benefit from the
Improvements be subdivided into one or more parcels for
development purposes, the amount charged shall be based on a pro-
rata share of the actual front footage of the property so
developed.
4. Upon the actual receipt of any of the charges set
forth above, the City agrees to pay the same over to the Developer
less three percent (3?) to be retained by the City to defray
administration costs. In no event shall the City be obligated to
pay the Developer interest on collected or uncollected fees
pursuant to this Agreement. The term of this Agreement shall not
extend for a period of more than ten (10) years from the date of
acceptance of: the Improvements by the City, which date is
acknowledged by the parties to be June 1, 1994. The Council of
the City of Fort Collins may, upon application by the Developer,
extend the ten (10) year limitation herein set forth.
5. The services of the City in attempting to collect the
reimbursement fees described herein are offered solely as an
accommodation to the Developer. Accordingly, the City will not be
liable for its failure in any fashion to collect the monies
specified herein and shall have no obligation to commence
litigation for the purpose of attempting to make such collection.
In the event that the City's attempts to collect such charge,
including without limitation the City's withholding of building
permits, result in the filing of any claims against the City, the
Developer agrees to pay all costs and fees incurred by the City in
defense of the same, including attorney's fees. The Developer
further agrees to indemnify and hold harmless the City from any
damages or awards arising from or relating to the City's actions
and/or any such claim or civil action. At the City's option, the
Developer may be required to provide the City with a letter of
credit as security for this indemnification in the amount of any
damages sought or, if no such amount is specified, then in such
amount as the City may consider reasonably necessary to ensure
payment of all costs, fees and/or damages which may result
therefrom.
2
6. In the event that the Developer is in default with
regard to any other obligation to the City, the City shall have
the right to set off any reimbursements that may be due hereunder
to satisfy, in whole or in part, any such default. In the event
that a Developer has received reimbursement subject to the payment
of a charge to the City in accordance with the terms of this
Agreement, the Developer shall immediately upon receipt thereof
notify the City, in writing, of the amount collected, the name and
address of the person from whom collection was made and the
property to which the collection is applicable.
7. This Agreement may be assigned by the Developer to
any other party without the express written consent of the City.
The Ordinance is incorporated herein by this reference and it
shall govern interpretation of the various provisions of this
Agreement.
8. Either party hereto shall be entitled to record this
Agreement with the Clerk and Recorder of Larimer County, Colorado,
so as to provide record notice of the terms and conditions
contained herein to the owners of the properties described on
Exhibit "B".
DATED the day and year first above written.
THE CITY OF FORT COLLINS, COLORADO
A Municipal Corporation
A JJE
�1_ 4t11ri,I? By:
Wanda Krajicek, Ci Clerk
Joh9anager
Fishbach
Cit
DEVELOPER:
Thomas A. Sibbald, Vice President
3
Exhibit «A,'
100' R.O.W. )
27" W = SHIELDS ST.
-N 00.27-'27' W 487, 19' e80s �
'27' W 407.44'
I700'00' W 138,00'
N 00000'00' W
91.E '
Z
N
n
-..
co�
m
W
• 3
SO
N
N
N
W
M
o-
.p0
.IV
co-.;�.W
W
C.•1
_
i
CD
Z V
_
v �.
o
CDo
m
V
- M
N
,-
ru
in
Lrl
W
34.0.0 34.0Q+
flt
0
$
68.
00'27'
S 00'00'00'
W 112.18'
z
m
Y
kO
W
N
N
W
W
W
223.89' rn
�z
kD
V m CD
o N o
o o
o ICD
Clt
m
Ln Z
o
Lrl o
Im
2
1
c
LJ
W
N
m
A
N
roZ.
ry
W a
�
'
V
SI
TZ
P•'�
O
W
N
{M
'
M
List of properties benefited by the improvements in the form.
Address wn r Parcel #
3436 S. Shields St. Rosalie & V.J. Webster #97260-00-008
Portion of Cost in
Dollars $
$3, 892.70
Construction Cost
$6,282.65
Oversizing Portion
(2,807.00)
Already reimbursed
Construction Supervision
250.25
& Overhead (7.2%)
Engineering (4.8%)
166.80
Total Reimbursement Due for $3,892.70
North Side of Richmond Drive