HomeMy WebLinkAbout911112.tiff RESOLUTION
RE: APPROVE AGREEMENT EXTENSION WITH THE ECONOMIC DEVELOPMENT ACTION
PARTNERSHIP, INC. AUTHORIZE CHAIRMAN 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 of County Commissioners, by Resolution dated August 17,
1989, entered into an Agreement authorizing the Economic Development Action
Partnership, Inc. , hereinafter referred to as "EDAP", to market property in the
Weld County Business Park located in north Greeley, a copy of which is attached
hereto, and
WHEREAS, the Board has been presented with an Agreement Extension with
EDAP, commencing September 18, 1991 and ending September 18, 1993, with the
further terms and conditions being as stated in said Agreement Extension, and
WHEREAS, after review, the Board deems it advisable to approve said
Agreement Extension, 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 Extension between EDAP and Weld County be,
and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is,
authorized to sign said Agreement Extension.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 23rd day of September, A.D. , 1991, nunc pro
tunc September 18, 1991.
Allia414 A � BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD COUNT , LORADO
Weld County Clerk to the oard
Gordo c , airman
By: /
' Deputy Clerk to the Board George Ken edy, Pro-Tem
APPROVED AS FORM:
Connstance L. Harbert
�I County Attorney C. W.—by
/
W. H. Webster
911112
AGREEMENT EXTENSION
titTHIS AGREEMENT EXTENSION, made and entered into this
— day of September, 1991, by and between the Weld County
Board of County Commissioners, hereinafter referred to as the
"County, " and the Economic Development Action Partnership, Inc. ,
hereinafter referred to as "EDAP. "
WITNESSETH:
WHEREAS, County and EDAP entered into an Agreement dated
August 17 , 1989 , whereby the Parties agreed that EDAP had the right
to market property in the Weld County Business Park located in
north Greeley, Colorado, copy of which is attached hereto, and
WHEREAS, the termination date for said Agreement was August
17 , 1991, and
WHEREAS, the County and EDAP both desire to reinstate and
extend said Agreement from September 18, 1991, to and until
September 18, 1993, in order to promote the economic development of
Weld County, Colorado.
NOW, THEREFORE, for and in consideration of the mutual
promises and covenants contained in the Agreement dated August 17 ,
1989 , copy of which is attached hereto, the Parties hereto agree as
follows :
1 . That the Agreement which is attached hereto and dated
August 17 , 1989, between the Parties hereto shall be
reinstated and extended for an additional two year period
from September 18, 1991, to and until September 18, 1993 .
Page 1 of 2 Pages
2 . That the Parties agree to adhere to all of the provisions
contained in the attached Agreement over the course of
the next two years .
SIGNED this of° day of ,,k)r�/be, 1991 .
ATTEST: .�� BOARD OF COUNTY COMMISSIONERS
OF WELD COUNTY, STATE OF COLORADO
Weld County Clerk to ./le Board
BY: //el
2.�G77�/(.-y --` By:
Deputy Clerk to the Board ,� G E . cy, Chairman
111111 Economic Development Action
Partnership, Inc .
s
SUBSCRIBED AND SWORN TO before me this //f? -/- 1"-day of -J.4 , ,
1991, by _ a_zs
WITNESS my hand and official seal .
/ -c Lee
l
Notary Public
My commission expires :
MV COMMISSION EXPIRES JUNE 8. 1994
aedap.bp
Page 2 of 2 Pages
AGREEMENT
This AGREEMENT, made and entered into this / 1 day of August, 1989, by
- _ and between the WELD COUNTY BOARD OF COUNTY COMMISSIONERS,hereinafter _
referred to as the "County", and Economic Development Action Partnership,Inc. hereinafter
referred to as "EDAP."
WITNESSETH:
WHEREAS, the County has acquired and developed Weld Count Business Park Planned
Unit Development to provide building sites for economic development; and
WHEREAS, the-County desires to integrate the marketing of the Weld County Business
Park into the economic development efforts currently provided by EDAP in Weld County; and
WHEREAS,EDAP has a desire to assist and coordinate the marketing efforts of the Weld
County Business Park for Weld County in connection with its other economic development
activities, and
WHEREAS, the County, in accordance with Section 30-11-101 and 30-11-116, CRS,
1973,may enter into contracts with entities such as EDAP to promote economic development of
the County.
NOW,THEREFORE, for and in consideration of the recitals contained herein, the parties
agree as follows:
1.This agreement shall be for a period of two years; however,either party may terminate
the agreement upon 30 days notice. The agreement may be extended by mutual consent
of the parties.
2. The Parties agree that EDAP shall have the right to market the Weld county Business
Park. The County agrees to refer prospective purchasers or lessees to EDAP. EDAP
will make information available on Weld County Business Park to licensed real estate
brokers in Weld County. Any commissions earned by brokers shall be a part of any
purchase or leased price and shall be negotiated on an individual transaction basis.
EDAP shall make recommendations to the County regarding appropriate broker
commissions.
3. County confers to EDAP the authority to receive and transmit to the County, offers to
purchase or lease property located in the Weld County Business Park.
4. County agrees to pay into a Weld County Economic Development Fund any amount in
excess of development costs received from the sale or lease/purchase agreement
proceeds from property. Such fund will be established at such time as the first
transaction generating proceeds occurs. Development costs are those actual costs
incurred by the County and paid for with county funds, calculated on a per square foot
basis (total cost divided by total square feet available for use in the Business Park). The
County agrees that the cost per square foot is $ .50 .
5.The Board of County Commissioners will appropriate funds from the Weld County
Economic Development Fund for the purposes of funding economic development
endties within Weld County or other economic development projects worthwhile to
citizens of Weld County.
?1i 1119
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6.EDAP is authorized to advertise and market the property in whatever manner it deems
- best. EDAP may place appropriate signs on property.
7. Any costs associated with this agreement for the marketing of the property shall be at
EDAP expense,unless otherwise agreed to by the County.
8. County agrees to furnish a certificate of title showing a good and merchantable title of
record, and further agrees to convey title by good and sufficient warranty deed, or
guaranteed title on close of sale and lease/purchase.
9.EDAP agrees to market property in accordance with the County's "Policy Regarding
Marketing and Disposition of Land in the Weld county Business Park Planned Unit
Development' ,a copy of which is attached herewith and made a part of this agreement.
DATED this a day of August, 1989.
T: ` ,'Z�Ato BOARD OF COUNTY COMMISSIONERS
OF WELD COUNTY,STATE OF COLORADO
Weld C ty Clerk and Recorder
and Clerk to the Board By:
f� Chairman
eputy County Clerk
ECONOMIC DEVLEOPMENT ACTION
PARTNERSFjP
�/I
By: ��L La_AS-62-P
Chairman
STATE OF COLORADO )
) ss.
COUNTY OF WELD )
The foregoing instrument was acknowledged before me on this 11 —day of August,
1989. en
1 0CrilenVStiy hand and official seal.
IP hi 3 L1G ir)11 : C' c- C.\
N Notary Public \
l' cov4 P'
My Commission Expires:
.mr coin: aver expnne tip. 1$. 16SV
01 '"n 1 9'
POLICY REGARDING MARKETING AND DISPOSITION OF LAND
IN THE WELD COUNTY BUSINESS PARR - • -
- PLANNED UNIT DEVELOPMENT
SECTION 1 -- DECLARATION OF POLICY,
It is hereby declared to be the policy o£ the County of Weld to
encourage the location, relocation, and expansion of manufacturing,
industrial, or commercial enterprises within the County. To that end Weld
County has developed Weld County Business Park Planned Unit Development to
provide building sites for economic development. This policy is adopted in
furtherance of the primary objectives to mitigate the serious threat of
extensive unemployment, to secure and maintain a balanced and stable economy,
to provide for the public welfare, and to provide for the prosperity of
County residents .
In furtherance of the policy set forth above the Board declares that:
1.1 The Board of County Commissioners will make all necessary
determinations o£ the desirability of projects and will not
delegate this determination to any agent, contractor, or employee
of the County.
1.2 The County declares its intention to require payments in lieu o£
ad valorem real estate taxes on any project in the same amount and
manner as if the ownership of the real estate remained in private
hands rather than in ownership o£ the County.
1.3 The County or its agent will require information and proof of such
matters necessary to establish the bona fide purposes of the
applicant, while not unnecessarily divulging information to the
competitive disadvantage of the applicant.
1.4 The County will utilize the Economic Development Action Partnership
and its staff in assisting the County in marketing and arranging
for the development of the site of the Weld County Business Park.
1.5 Resources from the sale or lease of sites in excess of the County' s
development costs shall go into a Weld County Economic Development
Fund for the purpose of promoting economic development in Weld
County.
SECTION 2 -- PLANNING AND ZONING CRITERIA
2.1 All proposed projects shall be in accordance with and shall meet
the goals , concepts and objectives for the development as set forth
in the "Approved Document for Weld County Business Park Planned
Unit Development" approved by the City of Greeley June 7, 1988.
2.2 All building, parking, drives and landscaping shall be located and
- developed in _a manner so as to substantially comply with the -
approved site plans of the Weld Councy Business Park Planned Unit
- Development.
2.3 Any future buildings and site development shall be compatible in
use and similar in regard to the building architecture and
landscaping to the approved plans for the existing buildings
located on the Planned Unit Development.
2.4 A number of engineering reports must be provided and approved by
the City of Greeley staff prior to the issuance of a building
permit, including, but not limited to:
a) Drainage report
b) Construction drawings for all improvements
c) Utility plan
_ - 2.5 The determination of which parties shall bear the cost of any
required on or off site improvements shall be set forth in an
agreement between all parties in interest prior . to final
consideration by the Board of County Commissioners for an approval
of the project. EDAP shall assist in facilitating such agreement
among all interested parties.
SECTION 3 -- FINANCIAL ARRANGEMENTS
In order to facilitate the development of the Weld County Business Park, the
Board of County Commissioners will consider the following options for title
of the land to developing party:
3.1 Outright sale of property at agreed upon price.
3.2 Land lease with option to buy at time and price certain.
3.3 Subordinated loan on the land with equity shared with mortgagor of
building in proportion to value.
3.4 Land sale with deferred interest and principal payments , e.g. , five
or ten years .
3 .5 Donation o£ land with provision that at the time of future sale
County to receive from sale proceeds the appraised value of the
land at the time of sale.
3.6 Board of County Commissioners, upon the recommendation of EDAP,
will consider other sale/lease alternatives if they are in the best
interest of the citizens of Weld County.
21..x.. "..11 ,9
SECTION 4 -- APPLICATION REQUIREMENTS _
In order to properly process and consider applications for projects sec forth _
_ -
herein that could involve the County retaining any -equity position in the
project, certain criteria, procedures, guidelines, and requirements shall be
followed and submitted by the applicant as sec forth below co EMU, who
shall, upon developing a project for consideration by the Board of County
Commissioners , submit it to them.
4.1 A history of the applicant, including a description of its
operations.
4.2 Historical financial statistics of applicant for last five (5)
years or for the entire time it has conducted business if less than
five (5) years.
If applicant is proposing co-signers or guarantors, this same
historical financial data must be supplied for co-signers or
guarantors.
4.3 A written report from applicant's principal banker concerning the
applicant's financial position and ability to meet the expenses of
the proposed project, associated debt, lease or repayment of County
equity.
4.4 Major customers of applicant and the annual sales to each for the
preceding two (2) years.
4.5 A resume of principals and key employees of applicant, including
directors and officers, if applicant is a corporation.
4.6 Applicant's pro forma balance sheets, income statements and cash
flow projections for the next five (5) years, reflecting the
proposed lease or purchase payments to the County.
4.7 Applicant's prepared financial statements dated within sixty (60)
days of the application date.
4.8 Copies of the applicant's financial statements, either audited or
otherwise satisfactory to the County, for the preceding five (5)
years or the entire time during which the applicant has conducted
business.
4.9 Complete list of assets to be purchased or constructed and expenses
incidental to the project.
4.10 A payment schedule for retirement of any County equity debt or
lease.
4.11 Applicant shall provide a history of its employment and projected
employment associated with the project by number and type of
employees .
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4.12 The Board may waive specific information required in the written
application for new concerns that have not been in operation for
the last five (5) years. The Board, however, may request
additional information in lieu of the information waived.
4.13 Other information specifically desired by the Board or EDAP not set
forth above.
SECTION 5 -- COUNTY REVIEW OF APPLICATION
At such time as the applicant has provided all of the required information
and met all of the above stated requirements, EDAP shall conduct an analysis
of the information and the suitability of the project.
5.1 An EDAP review team shall be responsible for analyzing the
application and making recommendations to the Board of County
Commissioners concerning the advisability of proceeding with the
proposed project. The review team shall consist of members
appointed by EDAP, Director of EDAP and the County Finance Officer.
5.2 The recommendation o£ the review team shall include an analysis of
the impact of the development upon the County, and upon the City
of Greeley. The form of agreement for any required on-site and
off-site improvements shall also be recommended by the review team
to the Board of County Commissioners. The review team may
recommend that certain conditions be placed upon the applicant to
further insure the repayment of any County equity, and may
recommend that the applicant provide guaranteed construction
contract or a completion bond prior to undertaking the proposed
project.
5.3 At such time that the review team has presented its recommendation,
impact analysis, and on-site and off-site improvement agreement to
the Board and to the applicant, the Board shall schedule a work
session for the purpose of discussing the application and
considering any public input.
5.4 If the Board of County Commissioners concurs with the review team
to approve the project and associated terms, the Board shall direct
the County Attorney, together with the applicant's attorney, to
prepare all the necessary legal documents to be executed by the
Board in a formal meeting.
5.5 The Board of County Commissioners, at a formal board meeting, shall
approve the project documents and authorizes the Chairman to sign
all the necessary closing documents associated with the
transaction.
The Board of County Commissioners may, at any time, amend or suspend the
above policy without notice, if it is in the County's best interest.
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