HomeMy WebLinkAbout20100212.tiff RESOLUTION
RE: APPROVE TAX INCREMENT EXPENDITURE AND REVENUE SHARING AGREEMENT
AND AUTHORIZE CHAIR TO SIGN
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS,the Board has been presented with a Tax Increment Expenditure and Revenue
Sharing Agreement among the County of Weld, State of Colorado, by and through the Board of
County Commissioners of Weld County, the Town of Firestone, and the Firestone Urban Renewal
Authority, commencing upon full execution,with further terms and conditions being as stated in said
agreement, and
WHEREAS,after review,the Board deems it advisable to approve said agreement, a copy of
which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the agreement among the County of Weld, State of Colorado, by and through
the Board of County Commissioners of Weld County, the Town of Firestone, and the Firestone
Urban Renewal Authority be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to
sign said agreement
The above and foregoing Resolution was, on motion duly made and seconded, adopted by
the following vote on the 27th day of January A.D., 2010.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: y F' _ / '♦ )rc r-(os 1.- /.�,4rec�,t—
�� ` Douglas/Radema her, Chair
Weld County Clerk to th o rt"s 3,., ./�,' .
/ '° 1. ;EIrbara Kirkmeyer, F'ro-Tem
Deputy Clerk to the Bo 'd.,'(rp by
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APPRO �AS-TO ROAM: [///%
/ -7 �— Willia arcia
ountwAttorney EXCUSED
/ David E. Long
Date of signature: 3/1/1O
2010-0212
BC0041
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TAX INCREMENT EXPENDITURE AND REVENUE SHARING AGREEMENT
THIS AGREEMENT is made and executed effective the 28th day of January, 2010, by
and between the COUNTY OF WELD, COLORADO (hereinafter referred to as "Weld County"
or "County"), the TOWN OF FIRESTONE, COLORADO (hereinafter referred to as
"Firestone"), and the FIRESTONE URBAN RENEWAL AUTHORITY (hereinafter referred to
as "FURA").
WITNESSETH:
WHEREAS, by cover letter dated October 20, 2009, and pursuant to C.R.S. § 31-25-
107(3.5), Firestone provided Weld County with the proposed Urban Renewal Plan for the
Southern Firestone Urban Renewal Area ("Plan"), with an associated Weld County Impact
Report, all of which detail FURA's and Firestone's intended inclusion of the parcels described in
the Plan for the purposes authorized in the Colorado Urban Renewal Law, C.R.S. § 31-25-101, et
seq., including utilizing tax increment financing ("TIF Financing"), as contemplated by C.R.S. §
31-25-I07(9)(a), for the purposes authorized by the Urban Renewal Law; and
WHEREAS, TIF Financing provides that taxes, if any, levied after the effective date of
the approval of the Plan upon taxable property in the area described in the Plan ("Urban Renewal
Area") each year shall be divided for a period not to exceed twenty-five (25) years from the
effective date of the Plan and that a portion of said property tax revenues (the "TIF Revenue")
shall be allocated to and paid into a special fund of FURA to pay the principal of, interest on, and
any premiums due in connection with bonds of, loans or advances to, or indebtedness incurred
by FURA for financing an urban renewal project or to make payments pursuant to an agreement
executed pursuant to C.R.S. § 31-25-107(11); and
WHEREAS, Weld County, Firestone and FURA are authorized to enter into an
agreement pursuant to C.R.S. § 31-25-107(11) for the payment of property tax revenue that
results from the County levy on taxable property in the Urban Renewal Area, to be allocated
pursuant to C.R.S. § 31-25-107(9)(a)(II) (the "County Tax Levy Allocation") for the payment of
the costs of any additional county infrastructure or services necessary to offset the impacts of the
urban renewal project (the "Urban Renewal Project") described in the Plan, as it may be
amended, and revenue sharing, and
WHEREAS, Weld County, Firestone and FURA desire to enter into this Agreement for
the purposes set forth in C.R.S. § 31-25-107(11), and
WHEREAS, in consideration of the parties entering into this Agreement, Weld County
waives any right it has to file an objection and ask for arbitration, pursuant to C.R.S. § 31-25-
1070 2).
NOW THEREFORE, in consideration of the covenants, promises and agreements of each
of the parties hereto, to be kept and performed by each of them, it is agreed by and between the
parties hereto as follows:
av/p_ 0,2/ti
1. Sharing of County Levy Allocation: Weld County, Firestone and FURA hereby
agree to share the County Tax Levy Allocation as follows:
a. FURA shall calculate and pay to Weld County fifty per cent (50%) of the
revenue produced by the County Tax Levy Allocation each year as revenue sharing
authorized under C.R.S. § 31-25-107(11). Such revenues to be paid to the County shall
be placed in a separate FURA account created for such purpose. Commencing on the
date of this Agreement and for a period of twenty-five (25) years from the effective date
of the Plan, FURA shall pay to the County on or before the 15th day of each month all
revenues received into such account through the preceding month.
b. The remaining fifty per cent (50%) of the revenue produced by the County
Tax Levy Allocation each year may be used by FURA for payment of any amounts
authorized by the Urban Renewal Plan and Urban Renewal Law, including without
limitation payment of documented and certified costs incurred and paid by FURA for
"Eligible Public Improvements" within the Urban Renewal Area. "Eligible Public
Improvements" shall include and be limited to public improvements described in the
Plan.
2. Plan Approval. The County agrees that the County as an entity will not formally
or legally object to the adoption of the Plan.
3. Notification of Intended Amendments to the Plan. Firestone and FURA agree to
notify Weld County of any intended amendments to the Plan at least ninety (90) days prior to the
public hearing by Firestone to consider such amendment.
4. Use of County Tax Levy Allocation. The County agrees to use TIF Revenues
received pursuant to this Agreement in accordance with the requirements of C.R.S. § 31-25-
107(1) to address the impacts of the Plan on Weld County revenues and on infrastructure and
services necessary to serve the Urban Renewal Area.
5. Agreement Confined to County Tax Levy Allocation Revenue. This Agreement
applies only to the County Tax Levy Allocation revenues, as calculated, produced, collected and
allocated to FURA within the Urban Renewal Area in accordance with C.R.S. § 31-25-
107(9)(a)(II) and the rules and regulations of the Property Tax Administrator of the State of
Colorado, and does not include any other revenues of Firestone or FURA. Firestone and Weld
County agree that revenue from the County Tax Levy Allocation collected and paid to the
County under this Agreement are collections for Weld County within the meaning of Colorado
Constitution Article X, Section 20(2)(e).
6. Subordination Consent Required. With the prior written consent of the County, as
evidenced by a resolution approved by the Board of County Commissioners, the obligation of
FURA to pay revenues from the County Tax Levy Allocation to the County may be made
subordinate to any payment of the principal of, the interest on, and any premiums due in
connection with bonds of, loans or advances to, or indebtedness incurred by FURA for financing
or refinancing, in whole or in part, the Urban Renewal Project specified in the Plan.
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7. Delays. Any delays in or failure of performance by any party of its obligations
under this Agreement shall be excused if such delays or failure are a result of acts of God, acts of
public enemy, acts of the Federal or state government, acts of any other party, acts of third
parties, litigation concerning the validity of this Agreement or relating to transactions
contemplated hereby, fire, floods, strikes, labor disputes, accidents, regulations or order of civil
or military authorities, shortages of labor or materials, or other causes, similar or dissimilar,
which are beyond the control of such party. Notwithstanding the foregoing, where any of the
above events shall occur which temporarily interrupt the ability of FURA to transfer or pay
County Tax Levy Allocation revenues as provided in Section 1, as soon as the event causing
such interruption shall no longer prevail, FURA shall transfer and pay the total amount of the
County Tax Levy Allocation revenue that has been received by FURA that is then owing to date,
as determined according to the provisions of Section 1 to this Agreement.
8. Termination and Subsequent Legislation. In the event of termination of the Plan,
including its TIF Financing component, FURA and Firestone may terminate this Agreement by
delivering written notice to the County. The parties further agree that in the event legislation is
adopted after the effective date of this Agreement that invalidates or materially effects any
provisions hereof, the parties will in good faith negotiate for an amendment to this Agreement
that most fully implements the original intent, purpose and provisions of this Agreement.
9. Entire Agreement. This instrument embodies the entire agreement of the parties
with respect to the subject matter hereof. There are no promises, terms, conditions, or
obligations other than those contained herein; and this Agreement shall supersede all previous
communications, representations, or agreements, either verbal or written, between the parties
hereto. No modification to this Agreement shall be valid unless agreed to in writing by the
parties hereto.
10. Binding Effect. This Agreement shall inure to the benefit of and be binding upon
the parties hereto and their successors in interest.
11. No Third-Party Enforcement. It is expressly understood and agreed that the
enforcement of the terms and conditions of this agreement, and all rights of action relating to
such enforcement, shall be strictly reserved to the undersigned parties and nothing in this
agreement shall give or allow any claim or right of action whatsoever by any other person not
included in this Agreement. It is the express intention of the undersigned parties that any entity
other than the undersigned parties receiving services or benefits under this Agreement shall be an
incidental beneficiary only.
12. No Waiver of Immunities. No portion of this Agreement shall be deemed to
constitute a waiver of any immunities the parties or their officers or employees may possess, nor
shall any portion of this agreement be deemed to have created a duty of care which did not
previously exist with respect to any person not a party to this agreement.
13. Severability. If any term or condition of this agreement shall be held to be
invalid, illegal or unenforceable, this Agreement shall be construed and enforced without such a
provision, to the extent this agreement is then capable of execution within the original intent of
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the parties.
14. Severability. If any provision of this Agreement is found to be invalid, illegal or
unenforceable, the validity and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. Further, in the event of any such holding of invalidity, illegality or
unenforceability (as to any or all parties hereto), the parties agree to take such action(s) as may
be necessary to achieve to the greatest degree possible the intent of the affected provision of this
Agreement.
15. No Assignment. No party may assign any of its rights or obligations under this
Agreement.
IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officials
to execute this Agreement effective as of the day and year first above written.
COUNTY:
ATTEST: COUNTY OF WELD, a political Weld County
Clerk to the Board (-1 bdivision of the STATE OF COLORADO:
1861
By: ex('c��
Deputy Clerk to the Dough Rademacl er, Chairman
Board of Count Commissioners,
County of Weld
JAN 272010
TOWN:
1,41
ATTEST:'4L TOWN OF FIRESTONE, a municipal corporation
of the STATE OF COLORADO
By: Q,Ct / By: 61
J Iy H wood, To Jerk Chad Auer, Mayor
FURA:
ATTEST: FIRESTONE URBAN RENEWAL AUTHORITY
By: h Wen"( By: l J �—
J He ood, Reco 1 g Secretary Chad Auer, Chairperson
r/
4
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y 7,110 X41
FIRESTONE
AT r�,dC 7}
A COMMUNITY IN MOTION
MEMORANDUM
DATE January 29, 2010
TO Bruce Barker, Weld County Attorney
FROM Rebecca Toberman, Planning Coordinator
RE Tax Increment Expenditure and Revenue Sharing Agreement
CC Christopher M. Woodruff, Weld County Assessor
Town Staff
Please see the attached original, fully executed Tax Increment Expenditure and
Revenue Sharing Agreement.
We have also included copies of the following:
• Resolution No. 10-03 — A Resolution making legislative findings determining an area
within the Town of Firestone to be a blighted area and appropriate for inclusion in an
Urban Renewal Project
• Resolution No. 10-04 — A Resolution making legislative findings and approving the
Urban renewal Plan for the Southern Firestone Urban renewal Area
• Resolution No. 10-05 — A Resolution approving a tax increment expenditure and
revenue sharing agreement between Weld County, the Town of Firestone, and the
Firestone Urban renewal Authority
• Resolution No. FURA 10-02 - A Resolution approving a tax increment expenditure
and revenue sharing agreement between Weld County, the Town of Firestone, and
the Firestone Urban renewal Authority
Please contact the Planning Department if you have any questions.
151 Grant Ave. • P.O. Box 100 • Firestone, CO 80520
(303) 833-3291 • fax (303) 833-4863
1 l. ._ C. ,. I
RESOLUTION NO. it --03
A RESOLUTION MAKING LEGISLATIVE FINDINGS DETERMINING AN AREA WITHIN
THE TOWN OF FIRESTONE TO BE A BLIGHTED AREA AND APPROPRIATE FOR
INCLUSION IN AN URBAN RENEWAL PROJECT
WHEREAS,the staff of the Town of Firestone("Town) surveyed and documented whether
conditions that constitute a blighted area, as defined in the Colorado Urban Renewal Law,
sections 31-25-101, et seq., C_RS. (the Law) exist in the Town of Firestone; and
WHEREAS,the Town staff prepared a Conditions Survey,which survey has been reviewed
and updated to September 2009, as described in a document entitled Southern Firestone Conditions
Survey (the Conditions Survey) dated September 16, 2009 consisting of 12 pages, Attachment A
study area map exhibit(1 map sheet),Attachment B field inventory exhibit(1 page),Attachment C
field survey maps of existing conditions (10 map sheets), Attachment D flood, oil and gas, and
mining map exhibits (3 pages) and including a description of existing conditions and numerous
photographs; and
WHEREAS,the Conditions Survey is a matter of public record in the custody of the Town
Clerk, and is available for public inspection during business hours of the Town; and
WHEREAS,the Conditions Survey was presented to the Board of Trustees for its review and
consideration,which Conditions Survey shows that the area described in Section 2 hereof qualifies
as a blighted area as defined in the Law; and
WHEREAS,commencing on November 19,2009,the Board of Trustees conducted a public
hearing, which hearing was continued to January 28, 2010, and reviewed said Conditions Survey
pursuant to the procedural and notice requirements of the Law; and
WHEREAS, notice of the public hearing on the Conditions Survey and the physical
conditions found in the proposed urban renewal area was published as required by section 31-25-
107(3), C.R.S., at least thirty days prior to the public hearing, such publication being made in the
Longmont Times-Call on October 20, 2009; and
WHEREAS, written notice of the public hearing was mailed and additionally was hand
delivered to each property owner,business, and resident of the area included in the areas described
in section 2 hereof informing them of the public hearing at least thirty days prior to the public
hearing; and .�
WHEREAS,the Board of Trustees,having considered the evidence and testimony presented
in support of and in opposition to the Conditions Survey, and so having considered the legislative
record and given appropriate weight to the evidence;
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO:
Section 1. The Board of Trustees finds, determines and declares that the following
conditions exist in the area described in Section 2 hereof:
• Slum, deteriorated,or deteriorating structures (31-25-103(2)(a));
• Predominance of defective or inadequate street layout(-103(2)(b));
• Unsanitary or unsafe conditions(-103(2)(d));
• Deterioration of site or other improvements(-103(2)(e));
• Unusual topography or inadequate public improvements or utilities(-103(2)(f));
• The existence of health, safety,or welfare factors requiring high levels of municipal
services or substantial physical underutilization or vacancy of sites, buildings or
other improvements(-103(2)(k.5)).
Section 2. The following described area is found and declared to be a blighted area as
defined in the Law and appropriate for inclusion in an urban renewal project pursuant to the Law.
This is a legislative finding by the Board of Trustees based upon the Conditions Survey and other
evidence presented to the Board of Trustees. The blighted area is described as follows:
DESCRIPTION OF SOUTHERN FIRESTONE URBAN RENEWAL AREA
Being those portions of Sections 17, 18, 19, 20, 29, and 30 of Township 2 North,Range 67
West of the 6th Principle Meridian, Town of Firestone, Weld County, Colorado, more
particularly described as follows:
HART PARK (WEST SIDE)
A tract of land located in the Northwest Quarter of the Northeast Quarter of Section 30,T2N,
R67W of the 6th P.M.,Town of Firestone, County of Weld, State of Colorado, described as
follows:
Considering the North line of said Northeast Quarter as bearing South 90°00'00"East and
with all bearings contained herein relative thereto:
Commencing at the Northwest corner of said Northeast Quarter, the TRUE POINT OF
BEGINNING of this description;thence along said North line South 90°00'00"East 330.00
feet to the Northwesterly corner of the Globe Addition to the Town of Firestone; thence
along the boundary of the said Globe Addition South 00°38'37"East 660.00 feet,and again
North 90°00'00"West 330.00 feet to the Westerly line of said Northeast Quarter,and to the
Easterly boundary of the Town of Firestone according to the Replat of the Town of Firestone
2
recorded May 1, 1974 at Reception No. 1635587, of the records of Weld County, State of
Colorado;thence along the said Westerly line of the Northeast Quarter and the said Easterly
boundary of the Town of Firestone North 00038'37" West 660.00 feet to the Point of
Beginning.
The above described tract contains 5.0 acres more or less and is subject to all easements and
rights-of-way now existing or of record.
Together with;
HART PARK (EAST SIDE)
All that area described as public open space and Grant Avenue road right-of-way as
described in the Amended Annexation Map of Globe Addition recorded May J 7, 1978 at
Reception No. 1753702, of the records of Weld County, State of Colorado.
Together with;
GLOBE SUBDIVISION FIRST FILING
All public road right-of-ways conveyed to the Town of Firestone as described in the Final
Plat of Globe Subdivision First Filing recorded May 17, 1978 in Book 832 at Reception No.
1753703, of the records of Weld County, State of Colorado.
Together with;
GLOBE SUBDIVISION SECOND FILING
All public road right-of-ways conveyed to the Town of Firestone as described in the Final
Plat of Globe Subdivision Second Filing recorded November 1, 1978 in Book 850 at
Reception No. 1771614, of the records of Weld County, State of Colorado.
Together with;
THE ZADEL RANCH, COMMERCE VILLAGE
All of the First Street North public road—right-of-way,and Grant Avenue road right-of-way
conveyed to the Town of Firestone, and Lot 1 as described in the Final Plat of The Zadel
Ranch,Commerce Village recorded September 29, 1982 at Reception No.01905061,of the
records of Weld County, State of Colorado.
Together with;
THE ZADEL RANCH, WESTWIND VILLAGE
All public road right-of-ways and two 20' public access, utility and drainage parcels
conveyed to the Town of Firestone as described in the Final Plat of The Zadel Ranch,
Westwind Village recorded June 15, 1978 in Book 835 at Reception No. 1756842, of the
records of Weld County, State of Colorado.
Together with;
FIRESTONE MUNICIPAL COMPLEX
All real property owned by the Town of Firestone as described in the Land Survey Plat of
Firestone Municipal Complex recorded March 29, 1999 at Reception No. 2683175, of the
records of Weld County, State of Colorado.
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Together with
TOWN OF FIRESTONE (Old Town)
AU public road right-of-ways and alleys conveyed to the Town of Firestone and the West
half of Lot 14,Block 2 and Lots 15-20,Block 2 and Lots 1-16,Block 3 and Lots 7-8,Block
15 and Lots 21-32, Block 15 as described in the Replat of the Town of Firestone recorded
May 1, 1974 at Reception No. 1635587, of the records of Weld County, State of Colorado.
Together with;
TOWN OF FIRESTONE (Block 4 Alley)
All real property conveyed to the Town of Firestone as described in the deed in Book 1526,
Page 787 at Reception No. 2471381, of the records of Weld County, State of Colorado.
Together with;
TOWN OF FIRESTONE (McClure Avenue Parcel)
All real property conveyed to the Town of Firestone as described in the deed in Book 1641,
Page 517, of the records of Weld County, State of Colorado.
Together with;
FIRESTONE TRAIL (SECTION 30)
All of Parcel No. 6 owned by the Town of Firestone as described in the Quit Claim Deed
recorded March 19, 1997 at Reception No.2538622,of the records of Weld County,State of
Colorado.
Together with;
FIRESTONE TRAIL(SECTION 19)
All real property owned by the Town of Firestone as described in the Annexation Map of
Firestone Trail First Annexation recorded March 2, 1999 at Reception No. 2676869, of the
records of Weld County, State of Colorado.
Together with;
RUSSELL SUBDIVISION—AMENDED PLAT
All public road right-of-ways and alleys conveyed to the Town of Firestone as described in
the Final Plat of Russell Subdivision—Amended Plat recorded March 6, 1968 in Book 592 at
Reception No. 1513855, of the records of Weld County, State of Colorado.
Together with;
RUSSELL SUBDIVISION—SECOND FILING
All public road right-of-ways and alleys conveyed to the Town of Firestone and Lot 10,
Block 3 as described in the Final Plat of Russell Subdivision Second Filing recorded May 15,
1969 in Book 609 at Reception No_ 1531392, of the records of Weld County, State of
Colorado.
Together with;
ADVANCED FORMING TECHNOLOGY-MINOR PLAT
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All of Lot 1,Lot 2,Lot 3, and Tract A as described in the Minor Plat of Advanced Forming
Technology recorded November 6, 2000 at Reception No. 2805045,of the records of Weld
County, State of Colorado.
Together with;
AMENDED TIMBERLAND SUBDIVISION—FIRST FILING
All public road right-of-ways conveyed to the Town of Firestone and Outlot A as described
in the Final Plat of Amended Timberland Subdivision—First Filing recorded February 11,
1998 at Reception No. 2593849, of the records of Weld County, State of Colorado.
Together with;
TIMBERLAND SUBDIVISION— SECOND FILING
All public road right-of-ways and Outlot A conveyed to the Town of Firestone as described
in the Final Plat of Timberland Subdivision — Second Filing recorded April 8, 1998 at
Reception No. 2605095, of the records of Weld County, State of Colorado.
Together with;
TEETS ANNEXATION NO. 1
All real property as described in the Annexation Map of Teets Annexation No. 1 recorded
July 21, 1997 at Reception No.2558855, of the records of Weld County, State of Colorado.
Together with;
THE OVERLOOK AT FIRESTONE, REPLAT "A"
All public road right-of-ways and Outlot A conveyed to the Town of Firestone and Tract 1 as
described in the Final Plat of The Overlook at Firestone, Replat "A" recorded March 15,
2000 at Reception No. 2755702, of the records of Weld County, State of Colorado, except
for the southerly 10 feet of McClure Avenue right-of-way vacated by the Town of Firestone
as described in the Final Plat of The Overlook at Firestone,Replat"B"recorded July 9,2001
at Reception No. 2863948, of the records of Weld County, State of Colorado.
Together with;
THE OVERLOOK AT FIRESTONE, FILING NO. 2
All public road right-of-ways and Outlot B conveyed to the Town of Firestone as described
in the Final Plat of The Overlook at Firestone, Filing No. 2 recorded May 24, 2001 at
Reception No. 2851137,of the records of Weld County, State of Colorado.
Together with;
THE OVERLOOK AT FIRESTONE, REPLAT "C"
All public road right-of-ways conveyed to the Town of Firestone as described in the Final
Plat of The Overlook at Firestone, Replat "C" recorded June 18, 2003 at Reception No.
3073958, of the records of Weld County, State of Colorado.
Together with;
FIRESTONE VILLAS SUBDIVISION
All public road right-of-ways, Outlot A, Outlot B and Outlot C conveyed to the Town of
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Firestone and Lots 7-19,Block I and Lots 7-12,Block 2 and Lots 1-6,Block 3 and Lots 1-8,
Block 4 as described in the Final Plat of Firestone Villas Subdivision recorded August 20,
2007 at Reception No. 3498266, of the records of Weld County, State of Colorado.
Together with;
SADDLEBACK VISTAS
All real property as described in the Outline Development Plan of Saddleback Vistas
recorded October 5,2001 at Reception No.2890111,of the records of Weld County,State of
Colorado.
Together with;
FIRESTONE SAFEWAY
All of Lot 2 and Lot 3 as described in the Final Plat of Firestone Safeway recorded February
28, 2001 at Reception No. 2828882, of the records of Weld County, State of Colorado.
Together with;
SADDLEBACK ESTATES
A tract of land located in the Southwest One-Quarter of Section 19, Township 2 North,
Range 67 West of the Sixth Principal Meridian, County of Weld, State of Colorado,
described as follows:
Commencing at the Southwest corner of said Section 19,from which the South One-Quarter
corner of said Section 19 bears N89°40'09"E, 2472.66 feet;
Thence N89°40'09"E 804.40 feet along the South line of the Southwest One-Quarter of said
Section 19 to the Southeast corner of the Zadel Ranch, Commerce Village;
Thence N00°52'30"W 319.57 feet along the Easterly line of said the Zadel Ranch,
Commerce Village to a point of curve to the right thereof;
Thence Northerly 53.61 feet along the arc of said curve and along the Easterly line of said
the Zadel Ranch, Commerce Village to a point of tangent thereof,said arc having a radius of
507.62 feet, a central angle of 06°03'03", and being subtended by a chord that bears
N02°09'02"E 53.58 feet;
Thence N05°10'33"E 10'33"E 114.12 feet along the Easterly line of said the Zadel Ranch,Commerce
Village to a point of curve to the left thereof;
Thence Northerly,59.94 feet along the arc of said curve and along the Easterly line of said
the Zadel Ranch, Commerce Village to a point of tangent thereof and the True Point of
Beginning, said point also being the Northwest corner of that tract of land conveyed to the
Town of Firestone as described in Special Warranty Deed recorded June 15, 1992 in Book
1339 as Reception No.2291849,of the records of Weld County,Colorado,said arc having a
radius of 567.62 feet, a central angle of 06°03'03", and being subtended by a chord that
bears N02°09'02"E 59.92 feet;
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Thence N00°52'30"W 1105.80 feet along the Easterly line of said the Zadel Ranch,
Commerce Village;
Thence S61°23'48"E, 736.15 feet;
Thence S56°42'08"E, 667.37 feet;
Thence S08°50'10"E, 659.27 feet to the Northerly Right-of-Way line of the Coal Ridge
Irrigation Canal conveyed to Northern Colorado Water Conservancy District as described in
instrument recorded December 6, 1955 in Book 1436 at Page 442 of the records of Weld
County,Colorado;
Thence S84°31'09"W, 162.90 feet along the Northerly Right-of-Way line of said Coal Ridge
Irrigation Canal;
Thence S09°30'32"W, 263.79 feet to the South line of the Southwest One-Quarter of said
Section 19;
Thence S89°40'09"W, 530.72 feet along the South Line of the Southwest One-Quarter of
said Section 19 to the Southeast corner of that tract of land described in said Book 1339 as
Reception No.2291849,said point described as being Westerly 1106.52 feet along the South
line of the Southwest One-Quarter of said Section 19 from the Southwest One-Quarter
corner of said Section;
Thence N00°52'49"W, 546.57 feet along the East line of that tract of land as described in
said Book 1339 as Reception No_ 2291849 to the Northeast corner thereof;
Thence S89°40'09"W, 543.67 feet along the North line of that tract of land as described in
said Book 1339 as Reception No. 2291849 to the Northwest Corner thereof and the True
Point of Beginning.
Contains 29.08 acres more or less.
Basis of Bearing: The South line of the Southwest 1/4 Section 19, Township 2 N., Range 67
W. of the 6TH Principal Meridian, Weld CO., Colorado is assumed to bear N89°40'09"E.
Together with;
SADDLEBACK P.U.D.
A tract of land located in the N 1/2 of Section 19, T2N, R67W of the 6`b P.M., Town of
Firestone, County of Weld, State of Colorado, described as follows:
BEGINNING at the N 1/4 Corner of said Section 19, from which the Northwest Corner of
said Section 19,bears S89°59'35"W,2387.90 feet(Basis of Bearing),thence S89°59'35"W,
2208.09 feet along the North Line of the NW'/4 of said Section 19 to the Easterly Right-of-
7
way Line of the Former Union Pacific Railroad conveyed to the Union Pacific Railroad
Company as described in Warranty Deed recorded June 13, 1910,in Book 320 at Page 187
of the records of Weld County, Colorado;
Thence S00°52'37"E, 1207.59 feet along the Easterly Right-of-way Line of said Former
Union Pacific Railroad to a point from which the Northwest Corner of that tract of land
conveyed to The Weld County Tri-Area Sanitation District as described in Court Decree
recorded May 31, 1968, in Book 595 as Reception No. 1517031 of the records of Weld
County,Colorado,bears SOO°52'37"E,583.37 feet along the Easterly Right-of-way Line of
said Former Union Pacific Railroad, said point also being an angle point of Parcel A of
Saddleback Golf Course conveyed to Coal Ridge Management,Inc. as described in Bargain
and Sale Deed recorded December 13, 2000, as Reception No. 2813046 of the records of
Weld County, Colorado;
The following courses and distances are along the Northerly Line of said Parcel A of
Saddleback Golf Course:
Thence S55°09'54"E, 197.36 feet; thence S00°00'00"E, 80.00 feet; thence S55°09'54"E,
304.22 feet; thence S38°52'55"E, 467.85 feet; thence $61°32'37"E, 523.03 feet; thence
N31°50'07"E, 967.17 feet to the most Southerly Corner of Parcel C of Saddleback Golf
Course as described at said Reception No. 2813046;
The following courses and distances are along the Westerly Line of said Parcel C of
Saddleback Golf Course:
Thence N29°13'07"E, 143.45 feet;thence N12°17'39"E, 107.46 feet;thence N36°03'32"E,
33.42 feet; thence N54°06'01"E, 105.25 feet to an angle point of said Parcel A of
Saddleback Golf Course, also being the most Westerly Corner of Parcel D of Saddleback
Golf Course as described at said Reception No. 2813046;
The following courses and distances are along the Northerly Line of said Parcel D of
Saddleback Golf Course:
Thence N54°06'01"E,75.01 feet;thence N80°33'53"E,314.32 feet to the Northerly Line of
said Parcel A of Saddleback Golf Course;
The following courses and distances are along the Northerly Line of said Parcel A of
Saddleback Golf Course:
Thence N75°33'24"E,209.97 feet;thence N64°35'44"E,227.29 feet;thence S84°37'34"E,
789.20 feet;thence S20°09'33"E,200.39 feet;thence S57°42'50"E, 196.33 feet to the most
Westerly Corner of Parcel E of Saddleback Golf Course as described at said Reception No.
2813046;
The following courses and distances are along the Northerly Line of said Parcel E of
Saddleback Golf Course:
Thence S72°22'06"E,288.32 feet;thence S57°55'19"E,468.28 feet to the Northerly Line of
said Parcel A of Saddleback Golf Course;
8
The following courses and distances are along the Northerly Line of said Parcel A of
Saddleback Golf Course:
Thence S65°49'08"E,415.95 feet;thence N88°08'30"E, 154.74 feet at right angles from the
East Line of the NE 1/4 of said Section 19 to the East Line of the NE 1/4 of said Section 19;
Thence leaving the Northerly Line of said Parcel A of Saddleback Golf Course,
N01°51'30"W, 1669.50 feet along the East Line of the NE 1/4 of said Section 19 to the
Northeast Corner of said Section 19;
Thence N89°58'18"W, 2635.37 feet along the North Line of the NE 1/4 of said Section 19 to
the N '/4 Corner of said Section 19 and the POINT OF BEGINNING, excepting there from
Lot 24 Block 1 and Lot 14 Block 2 as described in the Final Plat of Saddleback First Filing
recorded June 30, 2005 at Reception No. 3299165, of the records of Weld County, State of
Colorado.
Together with;
SADDLEBACK FIRST FILING
All real property and public right-or-ways, except Lot 24 Block 1 and Lot 14 Block 2, as
described in the Final Plat of Saddleback First Filing recorded June 30, 2005 at Reception
No. 3299165, of the records of Weld County, State of Colorado.
Together with;
THE RESERVE
A tract of land located in the Southeast Quarter Section 19, T2N, R67W of the 6th P.M.,
Town of Firestone, County of Weld, State of Colorado, described as follows:
BEGINNING at the South line of Section 19,whence South 89°40'59"West, 927.28 feet;
thence along the Easterly line of The Zadel Ranch, Westwind Village Subdivision North
00°19'01" West, 421.00 feet; thence North 33°00'00" West, 252.84 feet to a point on the
Easterly Right-of-Way line of the South Platte Supply Canal; thence along said Easterly
R.O.W. the following(4) courses;
Thence North 59°34'26"East 23.95 feet;
Thence North 17°14'09"East 241.81 feet;
Thence North 49°05'09"East 525.90 feet;
Thence North 73°39'09"East 317.10 feet;
Thence leaving said Easterly R.O.W. line North 88°00'00" East, 179.90 feet;thence South
02°00'00" East, 708.21 feet; thence South 43°00'00" East, 753.00 feet; thence South
00°10'01" East, 50.00 feet to a point on the South line of Section 19; thence South
89°40'59"West, 1372.18 feet to the point of BEGINNING,containing 28.049 acres,rrore or
less.
Together with;
FIRESTONE RETAIL CENTER
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All of Lot 2, Lot 4 and Lot 5 as described in the Final Plat of Firestone Retail Center
recorded July 30, 2004 at Reception No. 3204318,of the records of Weld County, State of
Colorado.
Together with;
FIRESTONE RETAIL CENTER REPLAT NO. 1
All of Lot 1 and Tract A as described on the plat of Firestone Retail Center, Replat No. 1
recorded December 29, 2008 at Reception No. 3596794, of the records of Weld County,
State of Colorado.
Together with;
SADDLEBACK GOLF COURSE
All real property as described in the Bargain and Sale Deed recorded December 13, 2000 at
Reception No. 2813046, of the records of Weld County, State of Colorado.
Together with;
GRANT AVENUE
All existing and proposed public right-of-way known as, or to be known as, Grant Avenue,
being more particularly described as follows;
Commencing at the Northwest Corner of Section 30, Township 2 North,Range 67 West of
the 6th Principle Meridian, Town of Firestone,Weld County, Colorado and considering the
North Line of the Northwest '/4 of said Section 30 to bear S 89°09'19" E a distance of
2,472.68 L.F. to the North 1/4 Corner of Said Section 30, with all bearings herein relative
thereto;
Thence S 89°09'19"E 30.00 a distance of L.F. to the Point of Beginning.
Thence,the right-of-way being 50'north and 30' south of a portion of the North Line of the
Northwest 1/4 of Section 30 from the Point of Beginning and then S 89°09'19"E a distance of
2,442.68 L.F. to the North 1/4 Corner of Section 30.
Thence,the right-of-way being 50'north and 50' south of the North Line of the Northeast 1/4
of Section 30 from the North 1/4 Corner of Section 30 and then S 89°08'41"E a distance of
2,640.83 L.F. to the Northeast Corner of Section 30.
Thence,the right-of-way being 50'north and 50'south of the North Line of the Northeast 1/4
of Section 29 from the Northeast Corner of Section 30 and then S 89°08'25"E a distance of
2,628 L.F. to the North 1/4 Corner of Section 29.
Thence,the right-of-way being 50' north and 30' south of the North Line of the Northeast%4
of Section 29 from the North 1/4 Corner and then S 89°20'36"E a distance of 2,630.03 L.F.to
the Northwest Corner of Section 29 and the Point of Terminus.
Together with;
10
PINECONE AVENUE (West)
All existing and proposed public right-of-way known as, or to be known as, Pinecone
Avenue, being more particularly described as follows;
Commencing at the Northwest Corner of Section 19,Township 2 North,Range 67 West of
the 6th Principle Meridian, Town of Firestone, Weld County,Colorado and considering the
North Line of the Northwest 1/4 of said Section 19 to bear S 88°49'53" E a distance of
2,387.92 L.F_ to the North 1/4 Corner of Said Section 19, with all bearings herein relative
thereto;
Thence S 88°49'53"E a distance of 30.00 L.F. to the Point of Beginning.
Thence,the right-of-way being 30'north and 60' south of a portion of the North Line of the
Northwest%4 of Section 19 from the Point of Beginning and then S 88°49'53"E a distance of
2,357.92 L.F. to the North 1/4 Corner of Section 19.
Thence,the right-off-way being 60' north and 60' south of the north line of the Northeast%
of Section 19 from the North 1/4 Corner S 88°47'59" E a distance of 2,635.42 L.F. to the
Northeast Corner of Section 19 and the Point of Terminus.
Together with;
PINECONE AVENUE (East)
All existing and proposed public right-of-way known as, or to be known as, Pinecone
Avenue, being more particularly described as follows;
Beginning at the Northwest Corner of Section 20,Township 2 North,Range 67 West ofthe
6th Principle Meridian, Town of Firestone, Weld County, Colorado and considering the
North Line of the Northwest 1/4 of said Section 20 to bear N 89°01'20" E a distance of
2,597.64 L.F. to the North '/4 Corner of Said Section 20, with all bearings herein relative
thereto;
Thence,the right-of-way being 30' north and 50' south of a portion of the North Line of the
Northwest 1/4 of Section 20 from the Northwest Corner N 89°01'20" E a distance of
2,629.67 L.F. to a point on the North Line of the Northwest 1/4.
Thence,the right-of-way being 49' north and 50'south of a portion of the North Line of the
Northwest 1/4 of Section 20 from the previous point N 89°01'20"E a distance of 1,948.30
L.F. to the North Y Corner of Section 20.
Thence,the right-of-way being 49' north and 50'south of a portion of the North Line of the
Northeast 1/4 of Section 20 from the North 1/4 Corner N 88°15'05"E a distance of 1,315.49
L.F. to a point on the North Line of Northeast 1/4_
Thence,the right-of-way being 30' north and 30' south ofa portion of the North Line of the
Northeast 1/4 of Section 20 from the previous point N 88°15'05"E a distance of 1,284 L.F.to
11
the Point of Terminus, being N 88°15'05" E a distance of 30.00 L.F. from the Northeast
Corner of Section 20.
Together with;
FRONTIER STREET
All existing and proposed public right-of-way known as, or to be known as,Frontier Street,
being more particularly described as follows;
Beginning at the East'/.Corner of Section 30, Township 2 North,Range 67 West of the 6''
Principle Meridian, Town of Firestone, Weld County, Colorado and considering the East
Line of the Northeast''/4 of said Section 30 to bear N 00°22'04"E a distance of 2,640.58 L.F.
to the Northeast Corner of Said Section 30,with all bearings herein relative thereto;
Thence, the right-of-way being 60' west and 60' east of a portion of the East Line of the
Northeast 1/4 of Section 30 from the East 1/4 Corner N 00°22'04"E a distance of 645.90 L.F.
to a point on the East Line of the Northeast'/.
Thence, the right-of-way being 30' west and 60' east of a portion of the East Line of the
Northeast'/ of Section 30 from the previous point N 00°22'04"E a distance of 528.00 L.F.
to a point on the East Line of the Northeast 1/4.
Thence, the right-of-way being 60' west and 60' east of a portion of the East Line of the
Northeast'/4 of Section 30 from the previous point N 00°22'04"E a distance of 1,466.68 L.F.
to the Northeast Corner of Section 30.
Thence, the right-of-way being 60' west and 60' east of the East Line of the East 'A of
Section 19 from the Northeast Corner of Section 30 N 00°41'27"W a distance of 5,261.92
L.F. to the Northeast Corner of Section 19 and the Point of Terminus.
Section 3.The Board of Trustees finds and determines that the boundaries of the Southern
Firestone Urban Renewal Authority Area described in Section 2 have been drawn as narrowly as
feasible to accomplish the planning and development objectives of the proposed urbaa renewal area.
Section 4. This resolution is effective upon its approval by the Board of Trustees.
INTRODUCED, READ AND ADOPTED this day of 2010.
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Chad Auer, Mayor
ATTEST:
12
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RESOLUTION NO. IC _Q
A RESOLUTION MAKING LEGISLATIVE FINDINGS AND APPROVING THE URBAN
RENEWAL PLAN FOR THE SOUTHERN FIRESTONE URBAN RENEWAL AREA
WHEREAS, by Resolution NoJO-()3, the Board of Trustees found and declared the area
described therein (the Area)to be a blighted area as defined in the Colorado Urban Renewal Law,
Sections 31-25-101, et seq., C.R.S. (the Law), and appropriate for inclusion in an urban renewal
project; and
WHEREAS, it is desirable and in the public interest that the Firestone Urban Renewal
Authority(the Authority)undertake the redevelopment activities described in the Southern Firestone
Urban Renewal Plan dated January 28, 2010 (the Plan) for the Southern Firestone Urban Renewal
Authority Project (the Project), which Plan is attached hereto as Exhibit A and by this reference
made a part hereof; and
WHEREAS,approval of the Plan will facilitate the elimination and prevention of blighted
areas and promote the redevelopment, conservation, and rehabilitation of the Area; and
WHEREAS, the Plan is a matter of public record in the custody of the Town Clerk, and is
available for public inspection during business hours of the Town; and
WHEREAS,commencing on November 19,2009,the Board of Trustees conducted a public
hearing, which hearing was continued to January 28, 2010, and reviewed the Plan pursuant to the
procedural and notice requirements of the Law; and
WHEREAS, notice of the public hearing on the Plan was published as required by
Section 31-25-107(3),C.R.S., at least thirty days prior to the public hearing,such publication being
made in the Longmont Times-Call on October 20, 2009; and
WHEREAS, written notice of the public hearing was mailed and/or hand delivered to each
property owner,business,and resident of the Area included in the Plan informing them of the public
hearing at least thirty days prior to the public hearing; and
WHEREAS,by adoption of its Resolution No.PC-09-21,the Firestone Planning and Zoning
Commission has found that the Plan conforms with the Firestone Master Plan 2008 Update,and has
recommended that the Board of Trustees approve such Plan; and
WHEREAS,the Board of Trustees having considered the evidence presented in support of
and in opposition to the Plan, the Conditions Survey, and staff recommendations and so having
considered the legislative record and given appropriate weight to the evidence;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO:
1
Section 1. The Area described in the Plan has been and is hereby found, determined and
declared to be a blighted area as defined in the Law, and appropriate for an urban renewal project
This is a legislative finding by the Board of Trustees based upon the Conditions Survey and other
evidence presented to the Board of Trustees at a public hearing.
Section 2. The boundaries of the Area described in the Plan have been drawn as narrowly as
the Board of Trustees determines feasible to accomplish the planning and development objectives of
the Plan.
Section 3. The Plan has been submitted to the Board of County Commissioners of Weld
County,Colorado(the County),together with the information required by Section 31-25-107(3.5)of
the Law.
Section 4. All of the Area is within the corporate limits of the Town. Construction of public
improvements and provision of services to facilitate redevelopment of the Area in order to eliminate
or prevent the spread of blight conditions will be the primary responsibility of the Town, the
Authority, special districts and public entities other than the County, and private enterprise. The
Board of Trustees finds that an agreement with Weld County is in place to finance any additional
County infrastructure or services required to serve development within the Area for the period
during which the tax allocation provisions authorized by Section 31-25-107(9)(a)(I) and(II) of the
Act are in place and a portion of property taxes levied by the County are paid to the Firestone Urban
Renewal Authority, and further finds that increases in County revenue resulting from the
proportionate adjustment of the valuations for assessment under said Section 31-25-107(9)(a)(I)and
(II) of the Act will also provide revenues to finance any such additional County infrastructure or
services while such tax allocation provisions are in place.
Section 5. The St Vrain Valley School District RE-1 J has been permitted to participate in an
advisory capacity with respect to the inclusion in the Plan of the tax allocation provisions authorized
by Section 31-25-107(9) of the Law.
Section 6. The Authority is authorized to acquire any interest in property by any manner
available,including,without limitation,by exercise of the power of eminent domain,subject to and
in compliance with the requirements ofthe Law,which are incorporated herein by reference,and any
other applicable law, and subject further to the requirements and limitations of the Plan.
Section 7. The Plan meets the requirements of the Law and the principal public purpose for
adoption of the Plan is to facilitate redevelopment of the Area in order to eliminate or prevent the
spread of a physically blighted area as defined in the Law.
Section 8. To the extent that any relocation of individuals and families will be required in
connection with the Plan, a feasible method exists for the relocation of individuals and families in
decent,safe,and sanitary dwelling accommodations within their means and without undue hardship
to such individuals and families.
Section 9. To the extent that any relocation of business concerns will be required in
connection with the Plan,a feasible method exists for the relocation of such business concerns in the
2
Area or in other areas that are not generally less desirable with respect to public utilities andpublic
and commercial facilities.
Section 10. The Board of Trustees has taken reasonable efforts to provide written notice of
the public hearing prescribed by Section 31-25-107(3)of the Law to all property owners,residents,
and owners of business concerns in the Area at their last known addresses at least thirty days prior to
the public hearing on the Plan.
Section 11. Section 31-25-107(4)(d) of the Law does not apply because no more than 120
days have passed since the commencement of the only public hearing on the Plan.
Section 12. Section 31-25-107(4)(e) of the Law does not apply because the Board of
Trustees did not fail to previously approve the Plan.
Section 13. The Plan conforms with the Firestone Master Plan 2008, which is the general
plan for the development of the Town as a whole and additionally for the Area.
Section 14. The Plan will afford maximum opportunity,consistent with the sound needs of
the municipality as a whole, for the rehabilitation or redevelopment of the Area describedin the Plan
by private enterprise.
Section 15. To the extent that the Urban Renewal Area described in the Plan may constitute
open land within the meaning of Section 31-25-107(5)of the Law,and to the extent such Section is
otherwise applicable,it is found and determined that a shortage of housing of sound standards and
design that is decent, safe, and sanitary exists in the Town; the need for housing accommodations
has been or will be increased as a result of the clearance of substandard and dilapidated housing in
the Town; the conditions of blight in the urban renewal area and the shortage of decent, safe, and
sanitary housing cause or contribute to an increase in and spread of disease and crime and constitute
a menace to the public health, safety,morals,or welfare; and,if necessary to carry out the Plan,the
acquisition of the area for residential uses is an integral part of and essential to the program of the
Town_
Section 16. To the extent that the Urban Renewal Area described in the Plan may constitute
open land within the meaning of Section 31-25-107(6)of the Law,and to the extent such Section is
otherwise applicable, it is found and determined that the nonresidential uses under the Plan are
necessary and appropriate to facilitate the proper growth and development of the community in
accordance with sound planning standards and local community objectives and,if necessary to carry
out the Plan, the contemplated acquisition of the area may require the exercise of governmental
action, as provided in the Law,because of being a blighted area.
Section 17. The Plan has been duly reviewed and considered and is hereby approved. The
Authority is hereby authorized to take any and all actions pursuant to the Law to carry out the Plan.
PASSED AND ADOPTED this..a day of/sw 3_ , 2010.
3
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Chad Auer, ayor
ATTEST:Jyd'yr 4e d,ToownC I
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4
RESOLUTION NO.. I
A RESOLUTION APPROVING A TAX INCREMENT EXPENDITURE AND REVENUE
SHARING AGREEMENT BETWEEN WELD COUNTY, THE TOWN OF FIRESTONE, AND
THE FIRESTONE URBAN RENEWAL AUTHORITY
WHEREAS, the Town of Firestone ("Town") is a statutory town of the State of Colorado
authorized to exercise its powers under and pursuant to the Colorado Constitution and state law;
and
WHEREAS, the Firestone Urban Renewal Authority ("FURA") is a public body
corporate and politic authorized to transact business and exercise its powers as an urban renewal
authority under and pursuant to the Colorado Urban Renewal Law, Part 1 of Article 25 of Title
31, C.R.S. ("Act"); and
WHEREAS,the County of Weld ("County") is a home rule county authorized to exercise
its powers under and pursuant to the Colorado Constitution and state law; and
WHEREAS, pursuant to the Act, the Board of Trustees by Resolution adopted January
28, 2010 approved the Urban Renewal Plan for the Southern Firestone Urban Renewal Area (the
Plan) to carry out the urban renewal project ("Urban Renewal Project") described in the Plan for
the area described therein("Urban Renewal Area"); and
WHEREAS, the Act includes and the Plan contains a provision authorizing the financing
of the Urban Renewal Project utilizing property tax increment financing as further provided in
the Plan and as authorized by Section 31-25-107(9)of the Act; and
WHEREAS, Section 31-25-107(11) of the Act permits and authorizes the Town, the
County and FURA to enter into agreements for allocation of responsibility among the parties to
the agreement for payment of the costs of any additional County infrastructure or services
necessary to offset the impacts of an urban renewal project and for the sharing of revenues; and
WHEREAS, pursuant to Section 31-25-107(3.5) of the Act, the Town and FURA
submitted an urban renewal impact report for the Plan to the County and the County submitted
its response thereto, and an agreement has been proposed among the Town, the County and
FORA to address issues raised in discussion of the urban renewal impact report; and
WHEREAS, the Town desires to enter into such an agreement as authorized under
Section 31-25-107(11) of the Act
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE, COLORADO:
Section 1. The proposed Tax Increment Expenditure and Revenue Sharing
Agreement ("Agreement")among the Town, FURA, and the County, a copy of which is attached
hereto and incorporated herein by this reference, is hereby approved.
Section 2. The Mayor and Town Clerk are hereby authorized to execute the
Agreement on behalf of the Town.
INTRODUCED, READ, and ADOPTED this Z 8 day of)QAM
, 20]0.
TOWN OF FIRESTONE,COLORADO
CL.--,1
Chad Auer
Mayor
ATTEST:
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own Clerk Tr `� -�.=`"x�: '�.
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FIRESTONE URBAN RENEWAL AUTHORITY
RESOLUTION NO. FURPt I --
A RESOLUTION APPROVING A TAX INCREMENT EXPENDITURE AND REVENUE
SHARING AGREEMENT BETWEEN WELD COUNTY, THE TOWN OF FIRESTONE, AND
THE FIRESTONE URBAN RENEWAL AUTHORITY
WHEREAS, the Firestone Urban Renewal Authority ("FURA") is a public body
corporate and politic authorized to transact business and exercise its powers as an urban renewal
authority under and pursuant to the Colorado Urban Renewal Law, Part 1 of Article 25 of Title
31, C.R.S. ("Act"); and
WHEREAS, the Town of Firestone ("Town") is a statutory town of the State of Colorado
authorized to exercise its powers under and pursuant to the Colorado Constitution and state law;
and
WHEREAS,the County of Weld("County") is a home rule county authorized to exercise
its powers under and pursuant to the Colorado Constitution and state law; and
WHEREAS, pursuant to the Act, the Board of Trustees of the Town by Resolution
adopted January 28, 2010 approved the Urban Renewal Plan for the Southern Firestone Urban
Renewal Area (the Plan) to carry out the urban renewal project ("Urban Renewal Project")
described in the Plan for the area described therein ("Urban Renewal Area"); and
WHEREAS, the Act includes and the Plan contains a provision authorizing the financing
of the Urban Renewal Project utilizing property tax increment financing as further provided in
the Plan and as authorized by Section 31-25-107(9) of the Act; and
WHEREAS, Section 31-25-107(11) of the Act permits and authorizes FURA, the Town
and the County to enter into agreements for allocation of responsibility among the parties to the
agreement for payment of the costs of any additional County infrastructure or services necessary
to offset the impacts of an urban renewal project and for the sharing of revenues; and
WHEREAS, pursuant to Section 31-25-107(3.5) of the Act, FURA and the Town
submitted an urban renewal impact report for the Plan to the County and the County submitted
its response thereto, and an agreement has been proposed among FORA, the Town and the
County to address issues raised in discussion of the urban renewal impact report; and
WHEREAS, FURA desires to enter into such an agreement as authorized under Section
31-25-107(11);
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF
THE FIRESTONE URBAN RENEWAL AUTHORITY:
Section 1. The proposed Tax Increment Expenditure and Revenue Sharing Agreement
("Agreement") among FURA, the Town and the County, a copy of which is attached hereto and
incorporated herein by this reference,is hereby approved_
Section 2. The Chairperson and Recording Secretary are hereby authorized to
execute the Agreement of behalf of FURA.
.-h+
INTRODUCED,READ, and ADOPTED this 2$ day of (2ar a q_. ,2010.
Oa
Chad Auer
Chairperson
ATTEST:
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