HomeMy WebLinkAbout20241537.tiffRESOLUTION
RE: APPROVE TAX INCREMENT REVENUE AGREEMENT FOR ERIE GATEWAY PHASE
ONE (1) URBAN RENEWAL PLAN AND AUTHORIZE CHAIR TO SIGN - TOWN OF
ERIE URBAN RENEWAL AUTHORITY
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 Revenue Agreement for
the Erie Gateway Phase One (1) Urban Renewal Plan between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, on behalf of the
Department of Finance, and the Town of Erie Urban Renewal Authority, commencing upon full
execution of signatures, 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 Tax Increment Revenue Agreement for the Erie Gateway Phase
One (1) Urban Renewal Plan between the County of Weld, State of Colorado, by and through the
Board of County Commissioners of Weld County, on behalf of the Department of Finance, and
the Town of Erie 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 12th day of June, A.D., 2024.
BOARD OF COUNT ! SIGNERS
WELD COUNTY, COLORADO
ATTEST:
-�y4);,,k Key'. Ross, Chair
Weld County Clerk to the Board
BY: I ( 014-10J-
APP
Deputy Clerk to the Board
un y A torney
Date of signature:
�_ o
Perry L.:jck, Pro-Tem
Mike Freeman
ott K. James
ri Saine
cc: CA (513/1O.,), F,j (sS/GP/so)
Er; C
07 /02 /24
2024-1537
F10080
Tax Increment Revenue Agreement
(Board of County Commissioners of Weld County)
(Erie Gateway Phase 1 Urban Renewal Plan)
This Tax Increment Revenue Agreement (the "Agreement") is entered into as of
k )ne. 1' , 2024 (the "Effective Date") by and between the Town of Erie Urban
Renewal Authority, a body corporate and politic of the State of Colorado (the
"Authority"), whose address is 645 Holbrook Street, Erie, CO 80516, and Weld County,
Colorado, a political subdivision of the State of Colorado, by and through the Board of
County Commissioners of Weld County, ("Weld County"), whose address is 1150 O
Street, Greeley, CO 80631. The Authority and Weld County are referred to herein
individually as a "P" and collectively as the "Parties."
Recitals
The following recitals are incorporated in and made a part of this Agreement, as
noted in Section 1 below. Capitalized terms used herein and not otherwise defined are
defined in Section 2 below.
A. Redevelopment. The Parties understand that the real property described
in Exhibit A (the "Property") lying within the corporate limits of the Town of Erie (the
"Town"), is proposed to be within the area of the Erie Gateway Phase 1 Urban Renewal
Plan ("Plan"), to be redeveloped by one or more developers and/or property owner(s)
as a mixed -use development(s) that will eliminate existing blighted conditions which
constitute threats to the health, safety and welfare of the community and barriers to
development.
B. Urban Renewal and Tax Increment Financing. To accomplish the
redevelopment and to provide certain required improvements, the Authority has
recommended that the Property be included within the Erie Gateway Phase 1 Urban
Renewal Plan, which Plan will authorize the utilization of tax increment financing in
accordance with the Colorado Urban Renewal Law, Part 1 of Article 25 of Title 31, C.R.S.
(the "Act"), to pay Eligible Costs of the Improvements. The Plan that includes the
Property has been provided to Weld County under separate cover. The final version of
the Plan as approved by the Town Council of the Town shall be the "Plan" for purposes
of this Agreement. The Parties hereto hereby approve the Plan in all respects, including
any and all amendments thereto.
C. Nature of Urban Renewal Project and Purpose of Agreement. The proposed
Urban Renewal Project consists of designing, developing and constructing the
Improvements (which includes paying the Eligible Costs of public improvements)
necessary to serve the proposed Urban Renewal Area and, in compliance with §31-25-
107(4)(g) of the Act, the Plan affords maximum opportunity, consistent with the sound
needs of the Town as a whole, for the rehabilitation or redevelopment of the Urban
Renewal Area by private enterprise. Approval of the New Plan is subject to the Act.
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2024-1537
D. Taxing Entities. Weld County levies ad valorem property taxes on the
Property included within the proposed Urban Renewal Area.
E. Equitable Deal Structure. Weld County and the Authority, along with other
taxing districts, have undertaken to prepare an equitable deal structure including a
significant contribution of incremental property tax revenues from certain applicable
taxing districts.
F. Colorado Urban Renewal Law. In accordance with the Act as amended to
the date of this Agreement, the Parties desire to enter into this Agreement to facilitate
adoption of the Plan and redevelopment of the proposed Urban Renewal Area described
therein. The Agreement addresses, among other things, the estimated impacts of the
Plan on Weld County services associated solely with the Plan.
Agreement
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 set forth herein.
1. Incorporation of Recitals. The foregoing recitals are incorporated into and
made a part of this Agreement.
2. Definitions. As used in this Agreement:
2.1 "Act" means the Colorado Urban Renewal Law, Part 1 of Article 25 of Title
31, C.R.S.
2.2 "Agreement" means this Agreement, as it may be amended or
supplemented in writing. References to sections or exhibits are to this Agreement unless
otherwise qualified.
2.3 "Agricultural Land" has the meaning set forth in Section 6 hereof.
2.4 "Authority" means the Town of Erie Urban Renewal Authority, a body
corporate and politic of the State of Colorado.
2.5 "Bonds" shall have the same meaning as defined in § 31-25-103 of the Act.
2.6 "Town" means the Town of Erie, Colorado.
2.7 "Conn " means Weld County, Colorado.
2.8 "County Increment" means the portion of Property Tax Increment
Revenues generated by the Weld County mill levy, received by the Authority from the
Weld County Treasurer.
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2.9 "Duration" means the 25 -year period that the tax increment or tax
allocation provisions will be in effect as specified in § 31-25-107(9)(a) of the Act, the
Plan, and the Impact Report. Pursuant to the Act, the base year for calculating Property
Tax Increment Revenues is 2024. The last year the assessment roll will be divided for
purposes of TIF is 2049, and the last year the Authority is eligible to receive Property Tax
Increment Revenues from the Plan area is 2050.
2.10 "Eligible Costs" means those costs eligible to be paid or reimbursed from
the Property Tax Increment Revenues pursuant to Section 5, below, and as listed in
Exhibit B hereto.
2.11 "Impact Report" means the impact report dated as of January 28, 2024,
and prepared by Pioneer Development Company analyzing and projecting the financial
burdens and benefits of the Urban Renewal Project pursuant to § 31-25-107(3.5) of the
Act.
2.12 "Improvements" means the public improvements and private
improvements to be constructed on the Property pursuant to the Plan.
2.13 "Party" or "Parties" means the Authority and Weld County, or each and
their lawful successors and assigns.
2.14 "Plan" means the urban renewal plan defined in Recital B above.
2.15 "Project" shall have the same meaning as Urban Renewal Project.
2.16 "Property Tax Increment Revenues" means the incremental property
tax revenues derived from ad valorem property tax levies described in §31-25-
107(9)(a)(II) of the Act allocated to the Special Fund for the Urban Renewal Project.
Provided however, any property tax increment generated by new oil and gas well sites
developed within the boundaries of the Project after the adoption of the Plan will not be
included or otherwise captured as increment and will instead be subject to all taxes levied
by taxing districts at the then current mill levy.
2.17 Remitted County Increment" means 50 % of the County Increment
which must be remitted to the County by the Authority in accordance with Section 4.1
hereof.
2.18 "Retained County Increment" means 50% of the County Increment
which may be retained and expended by the Authority in accordance with Section 4.1
hereof.
2.19 "Special Fund" means that certain special fund of the Authority into which
Property Tax Increment Revenues shall be allocated to and paid into, as more particularly
described in the Act.
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2.20 "TIF" means the property tax increment portion of the property tax
assessment roll described in § 31-25-107(9)(a)(II) of the Act.
2.21 "Urban Renewal Area" means the area included in the boundaries of the
Plan.
2.22 "Urban Renewal Project" means all undertakings and activities, or any
combination thereof, required to carry out the Plan pursuant to the Act.
3. Impact Report. The Parties acknowledge receipt of, and the opportunity to
review, the Impact Report, submitted in accordance with C.R.S. § 31-25-107(3.5)(a).
The Impact Report describes the benefits and burdens of the Plan. Having received the
Impact Report prior to the commencement of negotiations for the purposes of entering
into this Agreement, Weld County hereby waives any other statutory requirements related
to receipt of the Impact Report.
4. Property Tax Increment Revenues. In compliance with the requirements of
the Act, the Parties have negotiated and agreed to the sharing of Property Tax Increment
Revenues as set forth herein.
4.1 County Increment Revenues. Weld County and the Authority agree that
the Authority shall remit to the County 50% of the County Increment (the "Remitted
County Increment") on or before the 20th day of each month, commencing on the date
of approval by the Town of the Plan and ending upon the earlier of: 1) the occurrence
of the Duration; or 2) the payment in full of all bonds, loans, advances and indebtedness,
if any, incurred by the Authority to pay for the Improvements, including interest thereon
and any premiums due in connection therewith in accordance with § 31-25-107(9)(a)(II)
of the Act. Weld County and the Authority agree that the Authority may retain and
expend in furtherance of the Urban Renewal Project 50% of the County Increment (the
"Retained County Increment"), commencing on the date of approval by the Town of the
Plan and ending upon the earlier of: 1) the occurrence of the Duration; or 2) the payment
in full of all bonds, loans, advances and indebtedness, if any, incurred by the Authority
to pay for the Improvements, including interest thereon and any premiums due in
connection therewith in accordance with § 31-25-107(9)(a)(II) of the Act. Upon the
earlier of: 1) the occurrence of the Duration; or 2) the payment in full of all bonds, loans,
advances and indebtedness, if any, incurred by the Authority to pay for the
Improvements, including interest thereon and any premiums due in connection therewith
in accordance with § 31-25-107(9)(a)(II) of the Act, the entire County Increment shall
be paid by the Weld County Assessor to Weld County, and not to the Authority. The
Authority shall annually provide a written report to Weld County on progress towards
completion of the Eligible Public Improvements. The report shall include information
related to any significant changes in project scope or cost.
4.2 All of the County Increment upon receipt by the Authority will be deposited
into the Special Fund to be utilized in accordance with Section 4.1 hereof. No County
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Increment will be deposited or transferred into any other Authority fund or into the
general fund or any other fund.
5. Eligible Public Improvements. The Authority agrees to spend that portion
of the Retained County Increment solely for paying or reimbursing the costs, expenses
or indebtedness incurred for the provision of public improvements ("Public
Improvements") in the area of, and in furtherance of the goals of the Urban Renewal
Plan, which are limited to those Public Improvements more particularly described in
Exhibit B, attached hereto and incorporated herein by this reference.
6. Authority Administrative Fee. An administrative fee equal to one percent
(1%) of the County Increment as determined on an annual basis shall be retained by the
Authority ("Administrative Fee"). Notwithstanding anything to the contrary set forth
in this Agreement or in the Urban Renewal Plan, the Authority shall be entitled to retain
the Administrative Fee to pay the reasonable and customary administrative costs of the
Authority incurred in connection with the Authority's obligations under this agreement,
including, without limitation the collection, enforcement, disbursement, and
administrative fees and costs related to the County Increment and the Urban Renewal
Plan Area. The Administrative Fee shall be deducted annually from the County Increment
received.
7. Pledge of Property Tax Increment Revenues. Weld County recognizes and
agrees that in reliance on this Agreement and in accordance with the provisions of § 31-
25-109(2)(b) of the Act, the Authority has the right to pledge the Retained County
Increment to the payment of the Authority's Bonds (if any are or have been issued) and
other financial obligations incurred in connection with the Urban Renewal Project. Weld
County and the Authority also recognize and agree that this Agreement is an indebtedness
of the Authority under § 31-25-107(9)(a)(II) of the Act. The Retained County Increment,
when and as received by the Authority is and shall be subject to the lien of such pledge
without any physical delivery, filing, or further act. The lien of such pledge on the
Retained County Increment shall have priority over any of all other obligations and
liabilities of the Authority with respect to the Retained County Increment. The lien of
such pledge shall be valid, binding and enforceable as against all persons having claims
of any kind in tort, contract, or otherwise against the Authority irrespective of whether
such persons have notice of such lien.
8. Agricultural Land. The Urban Renewal Area will include property that has
been classified within the previous five years as agricultural land by the Weld County
Assessor ("Agricultural Land") for the purposes of levying ad valorem property taxes.
The Act requires that such Agricultural Land included within an urban renewal plan area
shall be valued at fair market value for purposes of establishing the base and calculating
the increment. Accordingly, as demonstrated in the Impact Report for the Plan previously
submitted to Weld County, among others, the Agricultural Land base value has been
established at fair market rates. In addition, Weld County specifically and irrevocably
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consents to the inclusion of such Agricultural Land in the Plan pursuant to § 31-25-
107(1)(c)(II)(D) of the Act
9. Waiver. Weld County acknowledges and agrees that the execution of this
Agreement satisfies the requirements of the Act regarding all applicable Amended 1348
Requirements for the adoption of the Plan, TIF financing in accordance with the Plan, and
notices related thereto, except those that may apply to future modifications of the Plan
as required by Sections 31-25-107(3.5) and (7) of the Act. Subject to such right to receive
notice of any proposed future modification of the Plan, Weld County hereby waives any
provision of the Act that provides for notice to, requires any filing with or by, requires or
permits consent from, or provides any enforcement right to Weld County. Weld County
agrees that it has already received information equivalent to the information otherwise
required to be provided to it by Section 31-25-107(3.5) of the Act in the form of the
Impact Report, and therefore hereby deem that requirement satisfied.
10. Limitation of Agreement. This Agreement applies only to the County
Increment, as calculated, produced, collected and paid to the Authority from the Urban
Renewal Area by the Weld County Treasurer in accordance with § 31-25-107(9)(a)(II) of
the Act and the rules and regulations of the Property Tax Administrator of the State of
Colorado, and does not include any other revenues of the County, Town or the Authority.
11. Miscellaneous.
11.1 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; fires; floods; earthquake; abnormal weather; strikes; labor disputes;
accidents; regulation or order of civil or military authorities; shortages of labor or
materials; or other causes, similar or dissimilar, including economic downturns, 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 a Party to abide by its
obligations as provided in this Agreement, as soon as the event causing such interruption
shall no longer prevail, the applicable Party shall fulfill all of its obligations as soon as
reasonably practicable.
11.2 Termination and Subsequent Legislation or Litigation. In the event of
termination of the Plan, including its TIF financing component, the Authority may
terminate this Agreement by delivering written notice to Weld County. The Parties further
agree that in the event legislation is adopted or a decision by a court of competent
jurisdiction is rendered 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, but does not impair any otherwise valid contracts in
effect at such time.
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11.3 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.
11.4 Binding Effect. This Agreement shall inure to the benefit of and be binding
upon the Parties and their successors in interest.
11.5 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 person or entity other than the undersigned Parties receiving
services or benefits under this Agreement shall be an incidental beneficiary only.
11.6 No Waiver of Immunities. Nothing in this Agreement shall be construed as
a waiver of the rights and privileges of the Parties pursuant to the Colorado Governmental
Immunity Act, § 24-10-101, et seq., C.R.S., as the same may be amended from time to
time. No portion of this Agreement shall 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.
11.7 Amendment. This Agreement may be amended only by an instrument in
writing signed by the Parties.
11.8 Parties not Partners. Notwithstanding any language in this Agreement or
any other agreement, representation, or warranty to the contrary, the Parties shall not
be deemed to be partners or joint venturers, and no Party shall be responsible for any
debt or liability of any other Party.
11.9 Interpretation. All references herein to Bonds shall be interpreted to include
the incurrence of debt by the Authority in any form consistent with the definition of
"Bonds" in the Act, including payment of Eligible Costs or any other lawful financing
obligation.
11.10 Incorporation of Recitals and Exhibits. The provisions of the Recitals and
the Exhibits attached to this Agreement are incorporated in and made a part of this
Agreement.
11.11 No Assignment. No Party may assign any of its rights or obligations under
this Agreement. Any attempted assignment in violation of this provision shall be null and
void and of no force and effect.
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11.12 Section Captions. The captions of the sections are set forth only for the
convenience and reference of the Parties and are not intended in any way to define, limit,
or describe the scope or intent of this Agreement.
11.13 Execution in Counterparts. This Agreement may be executed in several
counterparts, each of which shall be deemed an original and all of which shall constitute
but one and the same instrument.
11.14 Electronic Transactions. The Parties agree that any individual or individuals
who are authorized to execute this Agreement on behalf of the Authority or Weld County
are hereby authorized to execute this Agreement electronically via facsimile or email
signature. This agreement by the Parties to use electronic signatures is made pursuant
to Article 71.3 of Title 24, C.R.S., also known as the Uniform Electronic Transactions Act.
Any electronic signature so affixed to this Agreement shall carry the full legal force and
effect of any original, handwritten signature. The Parties hereto agree that the
transactions described herein may be conducted and related documents may be stored
by electronic means. Copies, telecopies, facsimiles, electronic files, and other
reproductions of original executed documents shall be deemed to be authentic and valid
counterparts of such original documents for all purposes, including the filing of any claim,
action, or suit in the appropriate court of law.
11.15 Governing Law. This Agreement and the provisions hereof shall be
governed by and construed in accordance with the laws of the State of Colorado.
11.16 No Presumption. The Parties to this Agreement and their attorneys have
had a full opportunity to review and participate in the drafting of the final form of this
Agreement. Accordingly, this Agreement shall be construed without regard to any
presumption or other rule of construction against the Party causing the Agreement to be
drafted.
11.17 Notices. Any notice required by this Agreement shall be in writing. All
notices, demands, requests and other communications required or permitted hereunder
shall be in writing, and shall be: (a) personally delivered with a written receipt of delivery;
(b) sent by a nationally -recognized overnight delivery service requiring a written
acknowledgement of receipt or providing a certification of delivery or attempted delivery;
(c) sent by certified or registered mail, return receipt requested; or (d) sent by confirmed
facsimile transmission or electronic delivery with an original copy thereof transmitted to
the recipient by one of the means described in subsections (a) through (c) no later than
five business days thereafter. All notices shall be deemed effective when actually
delivered as documented in a delivery receipt; provided, however, that if the notice was
sent by overnight courier or mail as aforesaid and is affirmatively refused or cannot be
delivered during customary business hours by reason of the absence of a signatory to
acknowledge receipt, or by reason of a change of address with respect to which the
addressor did not have either knowledge or written notice delivered in accordance with
this paragraph, then the first attempted delivery shall be deemed to constitute delivery.
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Each Party shall be entitled to change its address for notices from time to time by
delivering to the other Party notice thereof in the manner herein provided for the delivery
of notices. All notices shall be sent to the addressee at its address set forth in the
Preamble to this Agreement.
11.18 Days. If the day for any performance or event provided for herein is a
Saturday, a Sunday, a day on which national banks are not open for the regular
transactions of business, or a legal holiday pursuant to C.R.S. § 24-11-101(1), such day
shall be extended until the next day on which such banks and state offices are open for
the transaction of business.
11.19 Precedent. The Parties agree that this Agreement is entered into for the
specific Plan described herein. All other future urban renewal projects will be evaluated
on their specific attributes and merits and agreements for those projects may include
additional or different terms from this Agreement. This Agreement is not deemed to set
precedent for such future agreements.
11.20 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.
11.21 Authority. The persons executing this Agreement on behalf of the Parties
covenant and warrant that each is fully authorized to execute this Agreement on behalf
of such Party. The Parties further covenant and warrant that they are authorized to enter
into this Agreement pursuant to law, including without limitation C.R.S. § 31-25-107(9.5).
[Remainder of page intentionally left blank]
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In Witness Whereof, the Authority and Weld County have caused their duly
authorized officials to execute this Agreement effective as of the Effective Date.
Weld County, Colorado, a political
subdivision of the,State-e Colorado
Atte
By:
d..A+J
Kevin D. Ross, Chair JUN 12 2024
of Weld County Commissioners
own of Erie Urban Renewal
Authority, a body corporate and politic
of the State of Colorado
By: _
Title:
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2o2W - 1 637
Exhibit A
The Property
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52
12
KICEMEIIT
I-25 URA - PHASE 1
SECTIONS 3, 4. AND ,O
TIN. RIMY OF THE SIH P.N.
COUNTY OF WELD. STATE Of COLORADO
EHRHART
LAND SURVEYING
OF
DATE: VV.
DRAWN EA, R
PROJECT: s0om
EHRHART
LAND SURVEYING
EXHIBIT A
PROPERTY DESCRIPTION - PARCEL 1
A PARCEL OF LAND BEING ALL OF SECTION 4, TOWNSHIP 1 NORTH, RANGE 68 WEST OF THE
CH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO, BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF SAID SECTION 4; THENCE S89°45'02"W ALONG
THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 4 A DISTANCE OF 2638.65
FEET TO THE SOUTH QUARTER CORNER OF SAID SECTION 4; THENCE S89°33'56"W ALONG THE
SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2636.46 FEET
TO THE SOUTHWEST CORNER OF SAID SECTION 4; THENCE N00°02'02"E ALONG THE WEST LINE
OF THE SOUTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2681.74 FEET TO THE WEST
QUARTER CORNER OF SAID SECTION 4; THENCE N00°01'09"E ALONG THE WEST LINE OF THE
NORTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2655.74 FEET TO THE NORTHWEST
CORNER OF SAID SECTION 4; THENCE N89°51'24"E ALONG THE NORTH LINE OF THE
NORTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2613.25 FEET TO THE NORTH
QUARTER CORNER OF SAID SECTION 4; THENCE N89°37'35"E ALONG THE NORTH LINE OF THE
NORTHEAST QUARTER OF SAID SECTION 4 A DISTANCE OF 2648.41 FEET TO THE NORTHEAST
CORNER OF SAID SECTION 4; THENCE S00°05'53"E ALONG THE EAST LINE OF THE NORTHEAST
QUARTER OF SAID SECTION 4 A DISTANCE OF 2667.48 FEET TO THE EAST QUARTER CORNER
OF SAID SECTION 4; THENCE S00°08' 14"E ALONG THE EAST LINE OF THE SOUTHEAST QUARTER
OF SAID SECTION 4 A DISTANCE OF 2662.36 FEET TO THE POINT OF BEGINNING;
CONTAINING 28,070,900 SQUARE FEET OR 644.419 ACRES, MORE OR LESS.
OFFICE: 303-828-3340 • P.O. Box 930 • Erie, Colorado 80516
www.coloradols.com • john@coloradols.com
EHflHART
LAND SURVEYING
PROPERTY DESCRIPTION - PARCEL 2
A PARCEL OF LAND LOCATED IN THE SOUTH HALF OF SECTION 3, TOWNSHIP 1 NORTH, RANGE
68 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO, BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 3; THENCE N89°45'37"E ALONG
THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 3 A DISTANCE OF 1328.73
FEET TO THE WEST SIXTEENTH CORNER OF SECTION 3 AND SECTION 10, SAID POINT BEING
THE POINT OF BEGINNING;
THENCE N00°08' 12"W ALONG THE WEST LINE OF THE EAST HALF OF THE SOUTHWEST
QUARTER OF SAID SECTION 3 A DISTANCE OF 2664.12 FEET TO THE WEST SIXTEENTH CORNER
OF SECTION 3; THENCE N89°41'03"E ALONG THE CENTERLINE OF SAID SECTION 3 A DISTANCE
OF 1328.76 FEET TO THE CENTER OF SAID SECTION 3; THENCE N89°41'08"E CONTINUING
ALONG THE CENTERLINE OF SAID SECTION 3 A DISTANCE OF 2359.72 FEET TO A POINT ON THE
WEST RIGHT OF WAY LINE OF INTERSTATE 25; THENCE ALONG SAID WEST RIGHT OF WAY
LINE FOR THE FOLLOWING FOUR (4) COURSES;1) S06°48'39"E A DISTANCE OF 93.91 FEET; 2)
S00°07' 15"E A DISTANCE OF 196.90 FEET; 3) S05°51'29"W A DISTANCE OF 329.83 FEET; 4)
S00°23'28"E A DISTANCE OF 2051.06 FEET TO A POINT ON THE SOUTH LINE OF THE SOUTHEAST
QUARTER OF SAID SECTION 3; THENCE S89°46'00"W ALONG SAID SOUTH LINE A DISTANCE OF
2345.26 FEET TO THE SOUTH QUARTER CORNER OF SAID SECTION 3; THENCE S89°45'37"W
ALONG THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 3 A DISTANCE OF
1328.73 FEET TO THE POINT OF BEGINNING;
CONTAINING 9,797,310 SQUARE FEET OR 224.915 ACRES, MORE OR LESS.
OFFICE: 303-828-3340 • P.O. Box 930 • Erie, Colorado 80516
www.coloradols.com • john@coloradols.com
EHRHART
LAND SURVEYING
PROPERTY DESCRIPTION - PARCEL 3
A PARCEL OF LAND LOCATED IN THE WEST HALF OF SEC'T'ION 10, TOWNSHIP 1 NORTH, RANGE
68 WEST OF THE 6T0 PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO, BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID SECTION 10; THENCE N89°45'37"E ALONG
THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 10 A DISTANCE OF 1559.36
FEET; THENCE S00°07'23"E A DISTANCE OF 3703.28 FEET TO A POINT OF CURVATURE,
THENCE ALONG A 90.00 FOOT RADIUS CURVE TO THE LEFT (SAID CURVE HAVING A CENTRAL
ANGLE OF 34°44'25", AND CHORD BEARING S 17°29'36"E A DISTANCE OF 53.74 FEET) AN ARC
LENGTH OF 54.57 FEET; THENCE S34°51'23"E A DISTANCE OF 592.64 FEET TO A POINT OF NON -
TANGENT CURVATURE, THENCE ALONG A 570.00 FOOT RADIUS CURVE TO THE RIGHT (SAID
CURVE HAVING A CENTRAL ANGLE OF 08°41'05", AND CHORD BEARING S59°27'37"W A
DISTANCE OF 86.32 FEET) AN ARC LENGTH OF 86.40 FEET; THENCE $64°03'37"W A DISTANCE OF
100.00 FEET TO A POINT OF CURVATURE, THENCE ALONG A 180.00 FOOT RADIUS CURVE TO
THE LEFT (SAID CURVE HAVING A CENTRAL ANGLE OF 27°19'02", AND CHORD BEARING
S50°24'06"W A DISTANCE OF 85.01 FEET) AN ARC LENGTH OF 85.82 FEET; THENCE S36°44'37"W A
DISTANCE OF 100.00 FEET TO A POINT OF CURVATURE, THENCE ALONG A 1000.00 FOOT
RADIUS CURVE TO THE RIGHT (SAID CURVE HAVING A CENTRAL ANGLE OF 36°33'30", AND
CHORD BEARING S55°01'22"W A DISTANCE OF 627.29 FEET) AN ARC LENGTH OF 638.06 FEET TO
A POINT ON THE NORTHEASTERLY LINE OF A PARCEL RECORDED IN BOOK 359 AT PAGE 418,
BEING 50.00 FEET NORTHEASTERLY, AS MEASURED RADIALLY FROM THE CENTERLINE OF
THE MAIN TRACK OF THE BOULDER BRANCH OF THE UNION PACIFIC RAILROAD; THENCE
ALONG SAID NORTHEASTERLY LINE AND ALONG A 2857.50 FOOT RADIUS CURVE TO THE
RIGHT (SAID CURVE HAVING A CENTRAL ANGLE OF 17°43'10", AND CHORD BEARING
S55°25'01 "E A DISTANCE OF 880.20 FEET) AN ARC LENGTH OF 883.72 FEET TO A POINT ON THE
SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 10; THENCE S89°43'42"W ALONG
SAID SOUTH LINE A DISTANCE OF 1886.58 FEET TO THE SOUTHWEST CORNER OF SAID
SECTION 10; THENCE N00°30'57"E ALONG THE WEST LINE OF THE SOUTHWEST QUARTER OF
SAID SECTION 10 A DISTANCE OF 2655.61 FEET TO THE WEST QUARTER CORNER OF SAID
SECTION 10; THENCE N00°25'00"E ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF
SAID SECTION 10 A DISTANCE OF 2668.95 FEET TO THE POINT OF BEGINNING;
CONTAINING 8,498,369 SQUARE FEET OR 195.096 ACRES, MORE OR LESS.
OFFICE: 303-828-3340 P.O. Box 930 • Erie, Colorado 80516
www.coloradols.com • john@coloradols.com
Exhibit B
Public Improvements
(a) Improvements to Weld County Roads 7 and 12;
(b) sanitary sewer, including new lift station(s) and/or treatment plant;
(c) water infrastructure improvements;
(d) re -use of water and irrigation system infrastructure;
(e) traffic and signalization improvements;
(f) drainage improvements, and
(g) required parks, open space and trail connections.
PARCEL DESCRIPTIONS:
PARCEL 1
. 6vV �. , t O1 4 4.:
5.111
„ CR 12 s
-,11,7/4F1.
PARCEL 3
CR 12 ssR.saow
S CfQ '__
I
IN. 20.0]0.900 SO.. EEET OR Saa. ACRES, N0RE OR LESS.
RGr. iv,"„cror irR Pri AL. MGEAio4%,,,, oFTI°ti ,, si 1 col.oRAoo:
BEING MORE PARTCULMLY OE,GpIOED AS FIXL0wS
INC 9,]9],]10 R0UARE FEE* OR .4.016 ACRE,, N0RE OR LESS.
0EB UN0 0CATE0 E NEST XALF SECT 0 i NrvOHIP 1 NORT1.
MORE PARn[ULARLY OESCRINOEOAA5 fp0LL0�A5:c x tt oh'0MElo, SiA1f oT COLORADO,
EXHIBIT A
I•-25 URA — PRASE 1
SECTIONS 3, 4, AND 10
11N. R66W OF THE 6TH P.M.
COUNTY OF WELD, STATE OF COLORADO
EHAf ART
L„(aNO StJRVr'Y 'Jc
SHEET:
1 OF
DATE: a/e/2a
DRAWN BY: 1.1
Erie Gateway Phase 1
Urban Renewal Plan
January 15Y, 2024
Prepared by:
TOEURA
Town of Erie
Economic Development Department
Esri. NASA. NGA, USGS,
City and County of
Broomfieki, Esri, HERE,
Garmin, SaleGraph,
FAO, METI/NASA, USGS,
Denver EPANPS
O
Contents
I. Definitions 3
II. Introduction.4
III. Urban Renewal Area Boundary 4
IV. Summary of Statutory Criteria 4
✓ . Description of Urban Renewal Project 5
✓ I. Project Activities 10
✓ II. Project Financing 12
✓ III Changes in Approved Plan 13
IX. Minor Variations 13
Definitions
The Terms used in this Urban Renewal Plan shall have the following meanings:
Act means the Colorado Urban Renewal Law, Part 1 of Article 25 of Title 31, of the Colorado Revised
Statutes.
Area or Urban Renewal Area means the area of the Town included within the boundaries of this Urban
Renewal Plan as depicted in Exhibit A and described in Exhibit B.
Authority means the Urban Renewal Authority of the Town of Erie, Colorado (TOEURA).
Town means the Town of Erie, Colorado.
Planning Division means the Planning Department at the Town of Erie, Colorado.
Comprehensive Plan means the Town of Erie Comprehensive Plan revised 2015.
County means Weld County, Colorado.
Developer Book means the 1-25 Erie Gateway Developer Book published October 29, 2018
Plan or Urban Renewal Plan means this urban renewal plan as it may be amended in the future.
Project or Urban Renewal Project means all activities and undertakings described in this Plan.
III means Tax Increment Financing.
I. Introduction
The purpose of this Plan is to implement those provisions of the Town of Erie's Comprehensive Plan that
apply to the Urban Renewal Area. This Plan also considers provisions from other adopted Plans, such as
the 1-25 Erie Gateway Developer Book. The provisions of this Plan are intended to help provide
important services to the Area, eliminate and prevent conditions of blight, attract private investment,
utilize underdeveloped land, and leverage public investment and funding mechanisms to promote
redevelopment and rehabilitation of the area by private enterprise, and, where necessary, provide
necessary public infrastructure to serve the Area.
This Urban Renewal Plan has been proposed for consideration by the Town Board of the Town pursuant
to the provisions of the Act. The administration of the Project and the implementation of the Plan shall
be the responsibility of the Authority.
II. Urban Renewal Area Boundary
An urban renewal plan area has been created that includes property that is within the Town of Erie's
municipal limits. The plan includes 536 parcels and an approximate area of 1,100 acres. At the time of
this Plan's adoption, the Plan's parcels exhibit two different Weld County assessment categories: Tax
Exempt and Agricultural. The proposed Urban Renewal Project would advance the goals and objectives
found in the Town of Erie's Comprehensive Plan. The Plan will also facilitate portions of the
development vision outlined in the 1-25 Erie Gateway Development Book. A map of the Plan Area and its
specific legal description have been included as Exhibit A and Exhibit B.
III. Summary of Statutory Criteria
On November 18`h, 2022, a conditions survey report was submitted to TOEURA that summarized a blight
study of the area described as the Erie Gateway Urban Renewal Plan. This proposed plan area included
the current Project area and was found to exhibit the necessary number of blighting factors to be
declared eligible for Urban Renewal treatment. TOEURA elected to reduce the size of the former Project
area to create the Erie Gateway Phase 1 Urban Renewal Plan, which is legally described and illustrated
by this Plan document. On January 1', 2024, a new Conditions Survey report was submitted to TOEURA
that re-evaluated this area for statutorily defined blighting factors. Relevant conditions were
researched, documented, photographed, and compared with the blight factors pursuant to the Act. The
result of the survey is included in a document entitled "Conditions Survey" (the Conditions Survey) dated
January 15', 2024, consisting of 27 pages, related exhibits, a description of existing conditions, and
numerous photographs. The Conditions Survey is incorporated herein in its entirety by this reference.
The Conditions Survey shows that the following factors listed in the Act are present in the Area and that
these conditions qualify the Area as a "blighted area" as defined in the Act:
Predominance of Defective or Inadequate Street Layout
Faulty Lot Layout in Relation to Size, Adequacy, Accessibility, or Usefulness
Unsanitary or Unsafe Conditions
Unusual Topography or Inadequate Street Layout
Environmental Contamination
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
IV. Description of Urban Renewal Project
This Plan will be implemented as part of a comprehensive program to eliminate and prevent blight in the
Urban Renewal Area. The Authority and the Town, with the cooperation of private enterprise and other
public bodies, will undertake a program to eliminate the conditions of blight identified in the Conditions
Survey while supporting The Town of Erie Comprehensive Plan, the Town of Erie's Zoning Districts, the I-
25 Erie Gateway Developer Book and its vision for the area, and the Erie community's remediation and
redevelopment goals. Although there are other adopted Plan's both locally and regionally not listed, the
Goals and Policies of these plan's are assumed to be subsumed under the Comprehensive Plan.
A. Urban Renewal Plan Goals and the Plan's Relationship to Local and
Regional Objectives
1. Goals of the Plan — This Plan has been adopted to achieve the following
goals in the Area:
a) To encourage renewal throughout the Plan area by attracting
additional investment and redevelopment within the project boundary.
b) To alleviate blight within the boundaries of the Plan Area
c) To leverage Tax Increment Financing to assist with the funding of
Infrastructure and Facilities that will help advance the remediation and
redevelopment goals of the Plan area.
d) To incentivize and invest in catalytic developments to remediate
blighting conditions and spur additional community minded development
throughout the Plan area.
e) To facilitate redevelopment that creates a destination for the
Town of Erie and surrounding communities, that is defined by walkability,
a sense of place, entertainment options and nearby amenities
f) To generate a diverse mix of development that is also low impact
on the environment.
g) To encourage redevelopment within the subject area that aligns
with the Community's desires for new development as indicated by their
future land use designations and zoning districts.
h) To leverage Tax Increment Financing to help attract new
commercial and residential investments within the Plan area that will
alleviate blighting conditions.
i) To leverage Tax Increment Financing to support the development
of attainable and/or affordable housing within the Plan area.
j) To leverage Tax Increment Financing to attract retail development
that will assist the Town in its goal to mitigate retail leakage.
k) To improve the streetscapes in ways that promotes on -street bike
and pedestrian travel while also enhancing lighting, sidewalks, pedestrian
safety, parking, signage, landscaping, bike racks and bus shelters.
I) To invest in cultural and community spaces and facilitate a legacy
development for the Erie Community.
2. Relationship to Comprehensive Plan
The Plan conforms with and is designed to help implement the Visions, Goals,
Guiding Principles and Policies detailed in the Town of Erie's Comprehensive
Plan, revised and adopted 2015. Specifically, the Plan will facilitate development
that aligns with the Comprehensive Plan's future land use plan, the Highway 52
Area of Special Consideration, and the policies and implantation strategies found
in the Action Plan.
a) The Plan will advance the following Comp Plan vision: "A Caring Community
which offers its residents an environment in which to seek a high quality of life, [and] a
balanced community with a diverse range of housing, employment, educational,
shopping and recreational opportunities..."
(1) The Plan aligns with this vision in that its intention is to remove barriers to sound
development and incentivize new development throughout the area that yields retail commercial,
employment, and residential development. The Plan will also leverage incentives to ensure these
developments contribute to a "higher quality of life" for the Erie community.
(a) See Town of Erie Comprehensive Plan, Chapter 2-1
b) The Plan will advance the following "Guiding Principles":
(1) A Coordinated and Efficient Pattern of Growth —The Plan intends to remove conditions
arresting sound development. These conditions often prevent coordinated and efficient patterns of
growth. The Plan will mitigate conditions and incentives development that aligns with this principal.
(a) See Town of Erie Comprehensive Plan, Chapter 2-2
(2) Quality Design and Development —The Plan will alleviate conditions arresting sound
development and incentivize private investment to attract higher quality development to the Plan
area.
(a) See Town of Erie Comprehensive Plan, Chapter 2-2
(3) Overall Economic Vitality —The Plan will remediate conditions arresting sound
development and leverage incentives to attract new commercial retail and commercial
employment centers within its boundaries. These developments will support the Comp Plan's
"Economic Vitality" guiding principle.
(a) See Town of Erie Comprehensive Plan, Chapter 2-2
(4) A Comprehensive, Integrated Transportation System —The Plan will remediate
conditions that prevent a comprehensive, integrated transportation system such as a lack of
surface infrastructure, a defective internal street network, and lack of active and multi -modal
transportation options.
(a) See Town of Erie Comprehensive Plan, Chapter 2-2
(5) Balanced Land Use Mix —The Plan will seek to facilitate redevelopment that aligns with
the Comprehensive Plans Future Land Use Map (and Town Zoning) for the area. Future Land Uses
within the Plan's boundaries are diverse and balanced. Should the Plan achieve its goal in
remediating conditions arresting development, it will have advance this guiding principle.
(a) See Town of Erie Comprehensive Plan, Chapter 2-3
(6) Stable, Cohesive Neighborhoods Offering a Variety of Housing Types —The Plan will
remediate conditions arresting sound development and help incentivize residential development.
The Future Land Use Map calls for higher density residential development within the Plan area,
which will align with the Guiding Principle of offering a variety of housing types to the Erie
community.
(a) See Town of Erie Comprehensive Plan, Chapter 2-3
(7) Provide Infrastructure and Public Services Efficiently and Equitably —The Plan's goals
include providing incentives, such as Tax Increment Financing, to fund infrastructure improvements
throughout the Plan area. This incentive structure is based on the performance of the
development, meaning that the development itself will help to fund the infrastructure serving it.
This is an efficient and equitable method for providing infrastructure.
(a) See Town of Erie Comprehensive Plan, Chapter 2-4
c) The Plan will support the following Community Building Blocks outlined in the
Town's Comprehensive Plan:
(1) Neighborhood Emphasis —The Plan will seek to remove barriers and incentivize
residential development that advances neighborhood level development reminiscent of Old Town.
Specifically, the Plan will help incentivize a mix of housing types.
(2) Mixed -Use Development - The Plan will seek to remove barriers and incentivize mixed -
use development. The Plan's potential phases and planned development programs include mixed -
use development zones.
(3) Gateways and Corridors - The Plan will help establish distinct entryways to the
community along its gateway corridors. Specifically, the plan will remove barriers to development
and incentivize high quality development along Highway 52.
(4) Economic Sustainability —The Plan will support the Town of Erie's Economic
Sustainability Building Block by expanding opportunities for commercial and employment
development within its boundaries.
d) The Plan will align with the following Future Land Use Categories Present within
its boundaries:
(1) High Density Residential — The Plan will remove barriers and incentivize higher density
residential development in appropriate areas.
(2) Medium Density Residential The Plan will remove barriers and incentivize medium
density residential development in appropriate areas.
(3) Low Density Residential —Where appropriate, the Plan will remove barriers to
residential development and maintain appropriate density standards for low density residential
development.
(4) Rural Residential — Where appropriate, the Plan will remove barriers to residential
development and ensure that rural characteristics and low -density housing are protected and
maintained.
(5) Mixed-Use—Th Plan will barriers to mixed -use development by incentivizing compact,
pedestrian -oriented, residential and commercial mixed -use development.
(6) Community Commercial —The Plan will remove barriers to this development type by
incentivizing a mix of general commercial retail development that serves the local community.
(7) Regional Commercial —The Plan will remove barriers to this development types by
incentivizing more intense retail and employment -oriented commercial development.
(8) Business —The Plan will remove barriers to this development type by incentivizing high
quality employment facilities within Business designated areas.
3. Relationship to 1-25 Erie Gateway Development Book
The Plan aligns with the Vision and Development Plan outlined in the Development
Book. The Plan is intended to provide an additional tool to achieving the Development
Books vision for the Erie Gateway area. The Plan will help remove conditions arresting
the development envisioned in the Development book by providing incentives and
public -private partnerships.
The Development Book identifies the Town of Erie Urban Renewal Authority (TOEURA)
as a key partner for this development vision. It cites public -private partnerships and tax
increment financing as means of incentivizing the 1-25 Erie Gateway Plan. It also
recommends that these public financing incentives be targeted towards infrastructure
improvements, a strategy known as "public dollars for public improvements". The
Development Book also acknowledges how p3's may be able to incentivize higher -
density housing and greater commercial development.
These recommendations are supported by this Plan's goals. The Plan will advance the
vision described by the Development Book and advance the very incentives
recommended by it.
B. Land Use Regulations and Building Requirements
The Plan will provide a comprehensive and unified plan to promote and encourage high quality
development and redevelopment of the Area by cooperative efforts of private enterprise and
public bodies. Notwithstanding anything in the Plan to the contrary, the development and use of
the property within the Urban Renewal Area described in the Plan including, without limitation,
land area, land use, design building requirements, timing or procedures applicable to the
property, shall be subject to the Town of Erie's Municipal Code, Unified Development Code and
secondary codes therein adopted by reference, and other applicable standards and regulations
of the Town of Erie ("Town Regulations"). Permitted uses for properties in the Urban Renewal
Area shall be those uses allowed in the Town of Erie Municipal Code and Unified Development
Code.
V. Project Activities
The following provisions shall apply to the Area. In accordance with the Act, the Authority may
undertake these activities directly or, to the extent authorized by applicable law, contract with third
parties to do so:
A. Land Acquisition
To carry out this Plan, the Authority may exercise any and all of its rights and powers under the
Act and any other applicable law, ordinance or regulation. The Authority may acquire any
interest in property by any manner available. The Authority may acquire property in the Area for
the following reasons: To eliminate or prevent conditions of blight; to carry out one or more
objectives of the Plan; to assemble property for redevelopment by private enterprise; for
needed public improvements; and for any other lawful purpose authorized by the Plan, the Act
or any other applicable law.
Acquisition of property by eminent domain is not authorized unless the Town Board approves,
by majority vote, the use of eminent domain by the Authority in accordance with the Act and
other applicable laws.
B. Relocation
If acquisition of property displaces any individual, family, or business concern, the Authority may
assist such party in finding another location, and may, but is not obligated to, make relocation
payments to eligible residents and businesses in such amounts and under such terms and
conditions as it may determine and as may be required by law.
C. Demolition, Clearance, and Site Preparation
The Authority may demolish and clear those buildings, structures, and other improvements from
property it acquires if such buildings, structures, and other improvements are not to be
rehabilitated in accordance with this Plan. The Authority may provide rough and finished site
grading and other site preparation services as part of a comprehensive redevelopment program.
D. Property Management
During such time as any property is acquired by the Authority, for disposition for
redevelopment, such property shall be under the management and control of the Authority and
may be rented or leased by it pending disposition for redevelopment or rehabilitation.
Notwithstanding the foregoing, the Authority may acquire property, develop, construct,
maintain, and operate thereon buildings, and facilities devoted to uses and purposes as the
Authority deems to be in the public interest.
E. Public Improvements
The Authority will cooperate with the Town and other public bodies to install, repair or replace
necessary public infrastructure including, but not limited to, public streets, ADA accessible
routes, central water and sewer services, stormwater improvements, bicycle and pedestrian
infrastructure, parks and recreation amenities and multi -use recreational trails in the Area.
F. Land Disposition, Redevelopment and Rehabilitation
The Authority may dispose of property it acquires by means of a reasonable competitive bidding
procedure it establishes in accordance with the Act and pursuant to redevelopment agreements
between the Authority and such purchasers.
The Authority may also enter into owner participation agreements with property owners in the
Area for the development, redevelopment, or rehabilitation of their property. Such agreements
will provide for such participation and assistance as the Authority may elect to provide to such
owners.
The Authority may develop, construct, maintain, and operate buildings and facilities devoted to
uses and purposes as the Authority deems to be in the public interest.
All such redevelopment, owner participation and other agreements shall contain, at a minimum,
provisions requiring:
Compliance with the Plan and, if adopted by the Authority, the Design Guidelines
and Standards and Town codes and ordinances.
Covenants to begin and complete development, construction, or rehabilitation of
both public and private improvements within a period of time deemed to be
reasonable by the Authority.
The financial commitments of each party (but nothing herein shall obligate the
Authority to make any such financial commitment to any party or transaction).
G. Cooperation Agreements
For the purposes of planning and carrying out this Plan in the Area, the Authority may enter into
one or more cooperation agreements with the Town, County or other public bodies. Without
limitation, such agreements may include project financing and implementation; design, location
and construction of public improvements; and any other matters required to carry out this
Project. It is recognized that cooperation with the Town, County, other municipalities and other
public and private bodies may be required to coordinate such issues as the design, construction,
maintenance, operation, and timing of public and private improvements within and outside of
the Area to properly and efficiently carry out the goals and objectives of this Plan.
H. Other Project Undertakings and Activities
Other Project undertakings and activities deemed necessary by the Authority to carry out the
Plan in the Area may be undertaken and performed by the Authority or pursuant to agreements
with other parties or public bodies in accordance with the authorization of the Act and any and
all applicable laws.
VI. Project Financing
The Authority is authorized to finance activities and undertakings under this Plan by any method
authorized by the Act or any other applicable law, including without limitation, appropriations,
loans or advances from the Town or County; federal loans and grants; state loans and grants;
interest income; pay as you go arrangements; annual appropriation agreements; agreements
with public and private parties or entities; sale of securities; loans, advances and grants from
any other available source.
Any and all financing methods legally available to the Town, the County, the Authority, any
private developer, redeveloper or owner may be used to finance in whole or in part any and all
costs, including without limitation, the cost of public improvements described or anticipated in
the Plan or in any manner related or incidental to the development of the Urban Renewal Area.
Such methods may be combined to finance all or any part of activities and undertakings
throughout the Urban Renewal Area. Any financing method authorized by the Plan or by any
applicable law, including without limitation, the Act, may be used to pay the principal of and
interest on and to establish reserves for indebtedness (whether funded, refunded, assumed or
otherwise) incurred by the Authority or the Town or the County to finance activities and
undertakings authorized by the Act and this Plan in whole or in part.
The Authority is authorized to issue notes, bonds or any other financing instruments or
documents in amounts sufficient to finance all or part of the Urban Renewal Plan. The Authority
is authorized to borrow funds and to create indebtedness in carrying out this Plan. The principal,
interest, and any premiums due on or in connection with such indebtedness may be paid from
any funds available to the Authority.
The Project may be financed by the Authority under the tax allocation financing provisions of
the Act. Under the tax allocation method of financing the Project, property taxes levied after the
effective date of the approval of this Plan upon taxable property in the Urban Renewal Area
each year by or for the benefit of each public body that levies property taxes in the Area, shall
be divided for a period not to exceed twenty-five (25) years after the effective date of the
adoption of this tax allocation provision, as follows:
Base Amount
That portion of the taxes which are produced by the levy at the rate fixed each year by or for
such public body upon the valuation for assessment of taxable property in the Urban Renewal
Area last certified prior to the effective date of approval of the Plan or, as to an area later added
to the Urban Renewal Area, and the effective date of the modification of the Plan shall be paid
into the funds of each such public body as are all other taxes collected by or for said public body.
For sales tax, the base will be that portion of municipal sales taxes collected within the
boundaries of the Area in the twelve-month period ending on the last day of the month prior to
the effective date of approval of the Plan.
Increment Amount
The increment amount is that portion of property taxes and sales taxes in excess of the base
amount as defined above. That portion of said property taxes and said municipal sales taxes in
excess of such base amount shall be allocated to and, when collected, paid into a special fund of
the Authority to pay the principal of, the interest on, and any premiums due in connection with
the bonds of, loans or advances to, or indebtedness incurred by (whether funded, refunded,
assumed or otherwise) the Authority for financing or refinancing, in whole or in part, the
Project.
Unless and until the total valuation for assessment of the taxable property in the Urban Renewal
Area exceeds the base valuation for assessment of the taxable property in the Urban Renewal
Area, all of the taxes levied upon taxable property in the Urban Renewal Area shall be paid into
the funds of the respective public bodies.
Unless and until the total municipal sales tax collections in the Urban Renewal Area exceed the
base year municipal sales tax collections all such sales tax collections shall be paid into the funds
of the Town.
When such bonds, loans, advances and indebtedness, including interest thereon and any
premiums due in connection therewith, have been paid, all taxes upon the taxable property in
the Urban Renewal Area shall be paid into the funds of the respective public bodies.
When such bonds, loans, advances and indebtedness, including interest thereon and any
premiums due in connection therewith, have been paid, all municipal sales taxes upon retail
sales within the Urban Renewal Area shall be paid into the Funds of the Town of Erie.
The increment portion of the taxes, as described in this subparagraph 2, may be irrevocably
pledged by the Authority for the payment of the principal of, the interest on, and any premiums
due in connection with such bonds, loans, advances and indebtedness incurred by the Authority
to finance the Project.
VII. Changes in Approved Plan
This Plan may be modified pursuant to the provisions of the Act governing such modifications,
including Section 31-25-107, C.R.S.
VIII. Minor Variations
The Authority may in specific cases allow minor variations from the provisions of the Plan if it
determines that a literal enforcement of the provisions of the Plan would constitute an
unreasonable limitation beyond the intent and purpose of the Plan.
PARCEL DESCRIPTIONS:
HWY 52
�91
PARCEL 1
12 s{i
ssa•,3ncw CR ses+s oxw
I Pvwn w rAv
0
PARCEL 2
SECTION
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sio Ise%ls s CR 12 '
x09
PARCEL 3
ItlB
BO
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101)
A Pattil oG uxo eElxo Au or secnan e, rrnmswP + R0RrN. %be xEsr oylNE
vATMR11CulAQ.PY oE�FI�IAN� SON � OT WEtD, SiAIE 0G RpNC ORE
Ei ee isr F°nirsmcrnlHClaAi'sdi; .' oFce, ':01 of cao",
BONG M0R[ PAR110UlARLY 0ESCRIRE0 AR roLL0l5S
EXHIBIT
I-25 URA - PHASE
SECTIONS 3, 4, AND 10
T1 N, RBBW OF THE 8TH P.M.
COUNTY OF WEIR, STATE OF COLORADO
EMHART
LAND SURVEYING
e.o. bw 41101) Y3Y.yM� B4c+n
SHEET:
1 Of 1
DATE: A/b/u
DRAWN BY: AE
EHRHART
LAND SURVEYING
EXHIBIT A
PROPERTY DESCRIPTION - PARCEL 1
A PARCEL OF LAND BEING ALL OF SECTION 4, TOWNSHIP 1 NORTH, RANGE 68 WEST OF THE
6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO, BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF SAID SECTION 4; THENCE S89°45'02"W ALONG
THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 4 A DISTANCE OF 2638.65
FEET TO THE SOUTH QUARTER CORNER OF SAID SECTION 4; THENCE S89°33'56"W ALONG THE
SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2636.46 FEET
TO THE SOUTHWEST CORNER OF SAID SECTION 4; THENCE N00°02'02"E ALONG THE WEST LINE
OF THE SOUTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2681.74 FEET TO THE WEST
QUARTER CORNER OF SAID SECTION 4; THENCE N00°01'09"E ALONG THE WEST LINE OF THE
NORTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2655.74 FEET TO THE NORTHWEST
CORNER OF SAID SECTION 4; THENCE N89°51'24"E ALONG THE NORTH LINE OF THE
NORTHWEST QUARTER OF SAID SECTION 4 A DISTANCE OF 2613.25 FEET TO THE NORTH
QUARTER CORNER OF SAID SECTION 4; THENCE N89°37'35"E ALONG THE NORTH LINE OF THE
NORTHEAST QUARTER OF SAID SECTION 4 A DISTANCE OF 2648.41 FEET TO THE NORTHEAST
CORNER OF SAID SECTION 4; THENCE S00°05'53"E ALONG THE EAST LINE OF THE NORTHEAST
QUARTER OF SAID SECTION 4 A DISTANCE OF 2667.48 FEET TO THE EAST QUARTER CORNER
OF SAID SECTION 4; THENCE S00°08' 14"E ALONG THE EAST LINE OF THE SOUTHEAST QUARTER
OF SAID SECTION 4 A DISTANCE OF 266236 FEET TO THE POINT OF BEGINNING;
CONTAINING 28,070,900 SQUARE FEET OR 644.419 ACRES, MORE OR LESS.
OFFICE: 303-828-3340 • P.O. Box 930 • Erie, Colorado 80516
www.coloradols.com • john@coloradols.com
EHRIIART
LAND SURVEYING
PROPERTY DESCRIPTION - PARCEL 2
A PARCEL OF LAND LOCATED IN THE SOUTH HALF OF SECTION 3, TOWNSHIP 1 NORTH, RANGE
68 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO, BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 3; THENCE N89°45'37"E ALONG
THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 3 A DISTANCE OF 1328.73
FEET TO THE WEST SIXTEENTH CORNER OF SECTION 3 AND SECTION 10, SAID POINT BEING
THE POINT OF BEGINNING;
THENCE N00°08' 12"W ALONG THE WEST LINE OF THE EAST HALF OF THE SOUTHWEST
QUARTER OF SAID SECTION 3 A DISTANCE OF 2664.12 FEET TO THE WEST SIXTEENTH CORNER
OF SECTION 3; THENCE N89°41'03"E ALONG THE CENTERLINE OF SAID SECTION 3 A DISTANCE
OF 1328.76 FEET TO THE CENTER OF SAID SECTION 3; THENCE N89°41'08"E CONTINUING
ALONG THE CENTERLINE OF SAID SECTION 3 A DISTANCE OF 2359.72 FEET TO A POINT ON THE
WEST RIGHT OF WAY LINE OF INTERSTATE 25; THENCE ALONG SAID WEST RIGHT OF WAY
LINE FOR THE FOLLOWING FOUR (4) COURSES;1) S06°48'39"E A DISTANCE OF 93.91 FEET; 2)
S00°07' 15"E A DISTANCE OF 196.90 FEET; 3) S05°51'29"W A DISTANCE OF 329.83 FEET; 4)
S00°23'28"E A DISTANCE OF 2051.06 FEET TO A POINT ON THE SOUTH LINE OF THE SOUTHEAST
QUARTER OF SAID SECTION 3; THENCE S89°46'00"W ALONG SAID SOUTH LINE A DISTANCE OF
2345.26 FEET TO THE SOUTH QUARTER CORNER OF SAID SECTION 3; THENCE S89°45'37"W
ALONG THE SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 3 A DISTANCE OF
1328.73 FEET TO THE POINT OF BEGINNING;
CONTAINING 9,797,310 SQUARE FEET OR 224.915 ACRES, MORE OR LESS.
OFFICE: 303-828-3340 • P.O. Box 930 • Erie, Colorado 80516
www.coloradols.com • john@coloradols.com
EHRHART
LAND SURVEYING
PROPERTY DESCRIPTION - PARCEL 3
A PARCEL OF LAND LOCATED IN THE WEST HALF OF SECTION 10, TOWNSHIP 1 NORTH, RANGE
68 WEST OF THE 6TH PRINCIPAL MERIDIAN, COUNTY OF WELD, STATE OF COLORADO, BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHWEST CORNER OF SAID SECTION 10; THENCE N89°45'37"E ALONG
THE NORTH LINE OF THE NORTHWEST QUARTER OF SAID SECTION 10 A DISTANCE OF 1559.36
FEET; THENCE S00°07'23"E A DISTANCE OF 3703.28 FEET TO A POINT OF CURVATURE,
THENCE ALONG A 90.00 FOOT RADIUS CURVE TO THE LEFT (SAID CURVE HAVING A CENTRAL
ANGLE OF 34°44'25", AND CHORD BEARING S 17°29'36"E A DISTANCE OF 53.74 FEET) AN ARC
LENGTH OF 54.57 FEET; THENCE S34°51'23"E A DISTANCE OF 592.64 FEET TO A POINT OF NON -
TANGENT CURVATURE, THENCE ALONG A 570.00 FOOT RADIUS CURVE TO THE RIGHT (SAID
CURVE HAVING A CENTRAL ANGLE OF 08°41'05", AND CHORD BEARING S59°27'37"W A
DISTANCE OF 8632 FEET) AN ARC LENGTH OF 86.40 FEET; THENCE S64°03'37"W A DISTANCE OF
100.00 FEET TO A POINT OF CURVATURE, THENCE ALONG A 180.00 FOOT RADIUS CURVE TO
THE LEFT (SAID CURVE HAVING A CENTRAL ANGLE OF 27°19'02", AND CHORD BEARING
S50°24'06"W A DISTANCE OF 85.01 FEET) AN ARC LENGTH OF 85.82 FEET; THENCE S36°44'37"W A
DISTANCE OF 100.00 FEET TO A POINT OF CURVATURE, THENCE ALONG A 1000.00 FOOT
RADIUS CURVE TO THE RIGHT (SAID CURVE HAVING A CENTRAL ANGLE OF 36°33'30", AND
CHORD BEARING S55°01'22"W A DISTANCE OF 627.29 FEET) AN ARC LENGTH OF 638.06 FEET TO
A POINT ON THE NORTHEASTERLY LINE OF A PARCEL RECORDED IN BOOK 359 AT PAGE 418,
BEING 50.00 FEET NORTHEASTERLY, AS MEASURED RADIALLY FROM THE CENTERLINE OF
THE MAIN TRACK OF THE BOULDER BRANCH OF THE UNION PACIFIC RAILROAD; THENCE
ALONG SAID NORTHEASTERLY LINE AND ALONG A 2857.50 FOOT RADIUS CURVE TO THE
RIGHT (SAID CURVE HAVING A CENTRAL ANGLE OF 17°43'10", AND CHORD BEARING
S55°25'01"E A DISTANCE OF 880.20 FEET) AN ARC LENGTH OF 883.72 FEET TO A POINT ON THE
SOUTH LINE OF THE SOUTHWEST QUARTER OF SAID SECTION 10; THENCE S89°43'42"W ALONG
SAID SOUTH LINE A DISTANCE OF 1886.58 FEET TO THE SOUTHWEST CORNER OF SAID
SECTION 10; THENCE N00°30'57"E ALONG THE WEST LINE OF THE SOUTHWEST QUARTER OF
SAID SECTION 10 A DISTANCE OF 2655.61 FEET TO THE WEST QUARTER CORNER OF SAID
SECTION 10; THENCE N00°25'00"E ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF
SAID SECTION 10 A DISTANCE OF 2668.95 FEET TO THE POINT OF BEGINNING;
CONTAINING 8,498,369 SQUARE FEET OR 195.096 ACRES, MORE OR LESS.
OFFICE: 303-828-3340 • P.O. Box 930 • Erie, Colorado 80516
www.coloradols.com • john@coloradols.com
URA PLAN MAP
Esn, NASA. NGA USG5
City and County of
Broomfield, Esri, HERE.
Garmin, SafeGraph.
FAO, METI/NASA, USGS.
Denver EPA, NPS
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COMPREHENSIVE PLAN LAND USES
enStreetMap contributors, Mi
affiliates, Esri Community Maps c
Esri, CGIAR, USGS, Ciir'1
and County of
Broomfield, Esri, HERE
Garmin, SafeGraph
FAO, METI/NASA, USGS
Denver EPA' NPS
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