The URL can be used to link to this page

Browse Search

Home My WebLink About20002429.tiff RESOLUTION RE: APPROVE MEMORANDUM OF UNDERSTANDING REGARDING FINANCING AND OWNERSHIP OF COMMUNITY BUILDING AT ISLAND GROVE 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 Community Building at 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, the City of Greeley, and Colorado Ag Education Inc., dba Colorado Farm Show 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 Community Building at 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, the City of Greeley, and Colorado Ag Education Inc., dba Colorado Farm Show 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 9th day of October, A.D.. 2000. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: /0741 �, EXCUSED _ �., Barbara J. kmeyer, Chair Weld County Clerk to B -,�% � W, r ''i�►�� M. J. G ile, Pro-Tem BY', €/�_ . -. a'.C-•: .'�_ �� Deputy Clerk to the��111 L 6-7.4; e. Baxter APPROVEa AS TO FORM: Dale K. Hall 2 bounty Attorney, >'L /;/d 1e ---- Glenn Vaad 2000-2429 PR0018 MEMORANDUM OF UNDERSTANDING REGARDING FINANCING AND OWNERSHIP OF COMMUNITY BUILDING AT ISLAND GROVE REGIONAL PARK IN GREELEY, COLORADO THIS MEMORANDUM OF UNDERSTANDING ("MOU") is made this _ day of October, 2000, by and between the City of Greeley, a home rule municipal corporation organized pursuant to the laws of the State of Colorado, by and through its City Council, and whose address is 1000 10th Street, Greeley, Colorado 80631 (the "City"), the County of Weld County, a political subdivision of the State of Colorado, by and through its Board of County Commissioners, and whose address is 915 10th Street, Greeley, Colorado 80631 (the "County"), and Colorado Ag Education Inc., d!h/a Colorado Farm Show Inc., a Colorado non-profit corporation, whose address ;s F.O. BON 70, Greeley, Colorado 80 ,32 ("C-S"). THIS MEMORANDUM OF UNDERSTANDING (MOU) supersedes and replaces the MOU dated May. 2000 between the same named parties and the MOU dated September 20, 1999 between the same above named parties and the Greeley Building Authority. WITNESSETH: WHEREAS, the City, the County and CFS hake determined that it would be desirable for the citizens of the City and the County that there be constructed, acquired and equipped a new community building (the "Community Building") to be located in the Island Grove Regional Park (the "Park"), and the City, the County and CFS have engaged in mutual discussion and planning in connection therewith; and WHEREAS, the City owns the Park, and the County owns certain public buildings located on the fringes of the Park. NOW, THEREFORE, in consideration of the promises and covenants set forth hereir, the parties hereto agree as follows: 1. NEW COMMUNITY BUILDING: The parties will cooperate in the construction, acquisition and equipping of the Community Building. The Community Building will be located in the Park and will be owned by the City. The Community Building will consist of approximately 60,000 square feet of exhibition and meeting space and related facilities and equipment. The construction cost of the Community Building (including a reasonable contingency allowance) is expected to be approximately $6,000,000. 2. PAYMENT FOR COSTS OF CONSTRUCTION: Payment for the cost of construction of the Community Building shall be by anticipated grant proceeds in the sum of$300,000, payments by the County and the City of 51,500,000 each, 2000-2429 and donations anticipated to be received by CFS of$2,700,000. The County shall pay its $1,500,000 in cash from County reserve funds. The City expects Lo finance approximately $2,625,000 (including the City's $1,500,000 share and $1,000,000 advanced against CFS donations, plus estimated costs of issuance and other financing costs and expenses, which costs and expenses may be paid from the proceeds of such financing) through a lease-purchase financing relating to other City property. The City shall be solely responsible for all payments required under such lease-purchase financing. CFS agrees that the first donations received by CFS for the Community Building, up to the amount of$1,000,000 plus an allocated share of financing costs and expenses and interest on the City's lease- purchase financing as determined by the City's Finance Director, shall he paid over to the City promptly upon receipt of such donations by CFS, in repayment to the City for the moneys advanced by the City against such donations (with moneys so received from CFS being credited first to imerest due at the time of payment). 3. CONSTRUCTION FUNDS: All funds which are to be used for Community Building costs (but not including CFS donations paid over to the City as described in the last sentence of paragraph 2 above) shall be paid into an account to be established by the City in a Weld County bank agreed to by all three parties to this MOU. The account shall be in the City's name but release of funds shall be by checks signed or countersigned by a designated representative from each of the three parties to this MOU. 4. CONSTRUCTION CONTRACTING: CFS shall contract and manage the construction of the Community Building. The plans and specifications for the Community Building and any substantial change orders or other changes thereto shall require the written approval of each of the three parties to this MOU. 5. MANAGEMENT OF COMMUNITY BUILDING: The City shall manage the Community Building once constructed pursuant to the Intergovernmental Agreement for Island Grove Park Management Services between the City and the County dated November 6, 1984. 6. CITY'S TAX-EXEMPT FINANCING: CFS and the County acknowledge that the City's lease-purchase financing described in paragraph 2 above will be entered into on a tax-exempt basis (i.e., certain interest payments in connection with such financing are expected to be exempt from federal and Colorado income taxes), and that such lease-purchase financing will be treated as a tax-exempt governmental financing rather than a "private activity bond" financing within the meaning of Section 141 of the Internal Revenue Code of 1986, as amended (the "Code"). The City will accordingly he required to make tax covenants as to the governmental use of the Community Building. CFS hereby covenants and agrees for the benefit of the City that CFS will not use the Community Building in any 2 manner or to any extent (nor permit ally such use by other entities to the extent such use by others is within its control), that would cause the City's lease-purchase financing to be treated as "private activity bonds" within the meaning of Section 141 of the Code or would otherwise cause the City to he in violation of its tax covenants or adversely affect the tax-exempt status of the City's lease-purchase financing. CFS and the County hereby further covenant and agree for the benefit of the City that they will cooperate with the City and comply with the City's reasonable directions in order to preserve the tax-exempt governmental status of the City's lease-purchase financing. (* Explanation: CFS use will he on same basis as use ht'general public. To the extent that CFS has any "preferred"or "firm"long-term commitment of right to use the Community Building, such use will be /OS than 10?1, of overall use (on annual basis) and will ire entirely for ('/S' exempt purpose. (Of course, City will have to be responsible for seeing that there is no other use which would cause 10% lima to he exceedea j/ 7. NON-WAIVER OF FEES: All users oCthe Community Building, including the City, the County and CFS, shall pay the full established user's fee at the time for all events, as would any other user of the Community Building. No fees shall be waived for any sponsoring entity of an event, including the City, the County or CFS. S. USER FEES: All user fees shall go into a special account maintained by the City for operations of the Community Building. The City and the County shall divide equally any operating deficit annually. If any operating surplus exists in the operating account annually at year end the surplus shall be carried forward into the next year's budget. The annual budget for the Community Building's operating account and capital improvements shall be subject to animal approval by the City and the County. 9. PARKING LOT: Construction of the new parking lot for the Community Building, estimated to cost between ¶500,000 and $900,000 (which is not included in the estimated total cost stated in paragraph 1 above), shall not begin until the full amount of all anticipated donations to CFS, as described in paragraph 2 above, have been collected by CFS, unless otherwise agreed to by all three parties to this MOU. 10. CONCRETE FLOOR: In order to maximize revenues from utilization, the Community 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 Farm 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. If events requiring dirt at a time other than the above time 3 frame are in the best interest of the community or are economical for the facility, the arena floor may be converted to dirt on a case by case for such events. 11. SEVERABILITY: If any term, condition or provision of this MOU shall be held or decided to be invalid, illegal or unenforceable, it is the intention of the parties hereto that such holding or decision shall not affect the validity or enforceability of any other portion of this MOU. 12. 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 give or allow any claim or right of action N.hatsoever by any other person not a part to this MOU. It is the express intention ofthe undersigned parties that any entity other than the undersigned parties receiving services or benefits under this MOU shall be an incidental beneficiary only. 13. 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 he binding on any party, or its agents or employees, hereto. This MOU embodies all agreements between the parties hereto and there are no promises, terms, conditions or obligations referring to the subject matter hereof other than is contained herein. 14. NO WAIVER OF IMMUNITY; NO UNLAWFUL DELEGATION: 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 a 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 MOU is intended to circumvent or replace such immunities. Nothing in this MOU shall be construed as unlawfully diminishing, delegating or otherwise restricting any of the sovereign powers of the City or the County. 4 IN WITNESS WHEREOF the parties hereto have signed this MOl J this _day of October. 2000. THE CITY OF GREELEY, COLORADO [CI Ott By �� -- -r[Ca 2 e X49 Mawr rt '4ttist...: �5 Approved as to substa e: C1 P .1 / l1 By rl �'�-' __ V "-��f 1 `' J ity Mana er N Approved as to legal form: Approved as to availability of funds: 1 1 By ' W I ( L.iI ✓ By l City Attorney r1 Direct of / Finance COUNTY OF WELD, COLORADO ., By //7/11,(„6---' — Chairman, Board of County [COUNT SEAL] Commissioners of the T County of Weld Attest: 'k.'-6`) M. J. Gene, Pro-Ten i10/0Y 00) I(161 ctri4==, l��j�r'J By �� gy __ Deputy Clerk to the\ Sr &N t( -/ Board �' ', Di 1 J`1�� Approved a,to legal form: , : /B to -) By ) , c.. --- County Attorney 5 COLORADO AG EDUCATION, INC. [SEALI By Chairman/President Attest: Secretary 6 Hello