HomeMy WebLinkAbout20001245.tiff RESOLUTION
RE: APPROVE MEMORANDUM OF UNDERSTANDING REGARDING FINANCING AND
OWNERSHIP OF FARM SHOW BUILDING AT ISLAND GROVE REGIONAL PARK IN
GREELEY, COLORADO, 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 Memorandum of Understanding
Regarding Financing and Ownership of the Farm Show Building at the Island Grove Regional
Park in Greeley, Colorado, among the County of Weld, State of Colorado, by and through the
Board of County Commissioners of Weld County, City of Greeley, and Colorado Ag Education,
Inc., with terms and conditions being as stated in said Memorandum of Understanding, and
WHEREAS, after review, the Board deems it advisable to approve said Memorandum of
Understanding, 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 Memorandum of Understanding Regarding Financing and
Ownership of Farm Show Building at the Island Grove Regional Park in Greeley, Colorado,
among the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, City of Greeley, and Colorado Ag Education, Inc., be, and
hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said Memorandum of Understanding.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 22nd day of May, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
&aJAirkerr
COUNTY, COLO DO
n G /
ATTEST: �L,�D
//�V°°" meyr, Chai
pnty Clerk to the Board
!Sn/Lp
et /• / .€424.... --
M. J: eile, Pro-Temr
msi !'j` iG`u-, y ,�er to the Board "" --
�. ts, • George E. Baxter
AS T RM:
j Dale K. Hall
-
County Attorney ,(, u0 —
Glenn Vaad"
2000-1245
PRO018
MEMORANDUM OF UNDERSTANDING
REGARDING FINANCING AND OWNERSHIP OF FARM SHOW BUILDING
AT ISLAND GROVE REGIONAL PARK IN GREELEY, COLORADO
THIS MEMORANDUM OF UNDERSTANDING ("MOU") is made this da\ of
May, 2000, by and between the County of Weld, apolitical subdivision of the State of Colorado.
by and through the Board of County Commissioners of the County of Weld, whose address is
915 10th Street, Greeley, Colorado 80631, hereinafter referred to as "County;" the City of
Greeley, a home-rule municipal corporation organized pursuant to the laws of the State of
Colorado, by and through the Greeley City Council, whose address is 1000 10th Street, GreeIcy,
Colorado 80631.hereinafter referred to as "City;"and the Colorado Ag Education, Inc., a
Colorado non-profit corporation, whose address is P.O. Box 770, Greeley, Colorado 8063:,
hereinafter referred to as "CFS".
THIS MEMORANDUM OF UNDERSTANDING (MOU) supersedes, and replaces the
MOU dated September 20. 1999, between the same above named parties, and the Greeley
Building Authority.
WITNESSETH:
WHEREAS, CFS is seeking assistance in the construction of a new community building
at the Island Grove Regional Park, and
WHEREAS, County and City are owners of the property at Island Grove Regional Park
and are willing to assist CFS in said construction to the extent detailed in this MOU, and
NOW, THEREFORE, in consideration of the promises and covenants set forth herein, the
parties hereto agree as follows:
1. NEW COMMUNITY BUILDING: CFS desires the construction of a new
community building at the Island Grove Regional Park, being approximately
75,000 square feet in size. The approximate construction cost of said buildang s
$6,000,000. Said approximated cost includes the cost of the base building,
contingency, essential needs,and the interest on borrowed funds for CFS
described paragraph 2A.
2. PAYMENT FOR COST OF CONSTRUCTION: Payment for the cost of
construction shall be by anticipated grant proceeds in the sum of$300,000,
estimated donations to be received by CFS of$2,700,000, and payments by
County and City of$1,500,000 each.
Page 1 of 4 Pages
A) CFS shall acquire a $1,000,000 loan to be secured by CFS's future
revenues and donations for this project, as well as, both the C itv
and County shall allow CFS to use the new facility and associated
land as collateral for said loan. Interest for said loan shall he paid
from the $6,000,000 construction fund for the project.
B) City shall obtain its $1,500,000 through the issuance of certilicates
of participation (COP) secured by the City's Public Safety
Building. City shall be solely responsible for any issuance costs
associated with the financing of said COP's, and any debt servicing
costs associated with the repayment of the COP's.
C) County shall pay its $1,500,000 in cash from county reserve lanes.
3. CONSTRUCTION TRUST FUND: All funds for construction costs shall be paid
into a trust fund established by CFS in a Weld County bank of CFS's choice. The
trust fund shall be in the name of CFS, but release of funds from the trust fund
shall be by counter signed checks signed by a designated representative from each
of the three parties to this MOU.
4. CONSTRUCTION MANAGEMENT: CFS shall contract and manage the
construction of the building with the assistance of a construction manager paid
from the $6,000,000 construction fund.
5. MANAGEMENT OF FACILITY: City shall manage the facility once constructed
as part of the Island Grove Park Authority agreement between the City and
County.
6. NON-WAIVER OF FEES: All users of the new facility, including City, County
and CFS, shall pay the full established user's fee at the time for all.events similar
to any other user's event. No fees shall be waived for any sponsoring entity of an
event, including the City, County, or CFS.
7. USER FEES: All user fees shall go into a special fund maintained by the City for
operations of this facility. City and County shall divide equally any operating
deficit annually. If any operating surplus exists in the operating fund annually at
year end the surplus shall be carried forward into the next year's budget. The
annual budget for the facility's operating fund and capital improvements shall he
approved annually by the City and County.
8. PARKING LOT: Construction of the new parking lot for the facility estimated to
cost between $500,000 and $900,000, shall not begin until all funds have been
collected by CFS, unless otherwise agreed to by the parties hereto.
Page 2 of 4 Pages
9. CONCRETE FLOOR: In order to maximize revenues from utilization the
building shall have a concrete floor with provisions to convert to a dirt arena
during a portion of the winter season (approximately four weeks of the year) The
Livestock Barn at Island Grove Park will accommodate the need for a dirt arena in
the winter season when the new community building is used for non-dirt floor
events.
10. SEVERABILITY: If any term or condition of this MOU shall be held to be
invalid, illegal, or unenforceable, this MOU shall be construed and enforced
without such provision to the extent that this MOU is then capable of execution
within the original intent of the parties hereto.
11. NO THIRD PARTY BENEFICIARY ENFORCEMENT: It is expressly
understood and agreed that the enforcement of the terms and conditions of this
MOU, and all rights of action relating to such enforcement, shall be strictly
reserved to the undersigned parties and nothing contained in this MOU shall gis
or allow any claim or right of action whatsoever by any other person not included
in this MOU. It is the express intention of the undersigned parties that any entity
other than the undersigned parties receiving services or benefits under this MO1
shall be an incidental beneficiary only.
12. ENTIRE MOU: The parties hereby agree that neither has made or authorized any
MOU with respect to the subject matter of this instrument other than expressly set
forth herein, and no oral representation, promise, or consideration different from
the terms herein contained shall be binding on either party, or its agents or
employees, hereto. This MOU embodies all MOUs between the parties hereto
and there are no promises, terms, conditions, or obligations referring to the subject
matter whereof other than as contained herein.
13. NO WAIVER OF IMMUNITY: No portion of this MOU 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 MOU be deemed to have created c duty
of care which did not previously exist with respect to any person not a party to this
MOU. The parties hereto acknowledge and agree that no part of this MOLE is
intended to circumvent or replace such immunities.
Page 3 of 4 Pages
IN WITNESS WHEREOF the parties hereto have signed this MOU this day of May, 2000
ATTEST: CITY OF GREELEY, COOLORADO.a By:
I Betsy lder, reeley City Clerk AAt___141°41P
s, Mayor
APPROVED AS TO LEGAL FORM: APPROVED AS TO SUBSTANCE:
/1
c 'By: ___1 3 BylL� C-I ZIv;
Greeley City Attorney eo Weist, City nager
APPROVED AS TO FINANCING:
/'
By: O.C .9)...Q
Finapce Dire
vsti? 4 14C Zlit COUNTY OF WELD, COLORADO
1 �- t
i
IVii.--_y By:
oard -� ( Barbara J. Kirkmey r, Chai
k, Board of County Commissioners of
ShY N'IC the County of Weld
APPROVED'AS TO EGAL FORM:
By: I -_,44_7. i
Veld L-otmty'Attorney
ATTEST: COLORADO AG EDUCATION, INC
( �� Curt Probert, Chairman/President
Page 4 of 4 Pages
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