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ANNEXATION IMPROVEMENTS FUND
Sections:
3.29.010 Establishment.
3.29.020 Purpose.
3.29.030 Definitions.
3.29.040 Eligibility to receive moneys.
3.29.050 Public purpose.
3.29.060 Annual disbursements.
3.29.070 Accounting system.
3.29.080 Approval by City Council-Criteria.
3.29.090 Annexation agreement-Contents.
3.29.010 Establishment.
There is established a special fund of the City of Lakewood to be known as the
annexation improvements fund. (Ord. O-90-46 § 1 (part), 1990).
3.29.020 Purpose.
The annexation improvements fund shall be a special fund consisting of no revenue
other than a portion of the sales taxes generated and collected from certain
annexed property. The fund shall be used to reimburse an annexor for all or
part of the public or public-related improvements constructed by an annexor
as specifically set out in an annexation agreement with an annexor. The City
Council specifically finds and determines that creation of the annexation improvements
fund is consistent with the city's powers as a home rule municipal corporation,
and that exercise of said powers in the manner set forth herein is in furtherance
of the public health, safety and welfare. Notwithstanding any provision hereof,
the city shall never be a joint venture in any private entity or activity which
participates in the annexation improvements fund, and the city shall never be
liable or responsible for any debt or obligation of any annexor participating
in the annexation improvements fund. (Ord. O-90-46 § 1 (part), 1990).
3.29.030 Definitions.
As used in this chapter, and all sections thereof, the following phrases shall
have the following meanings:
"Administrative costs" means all engineering, legal, financing and
other reasonable costs of a similar nature associated with the construction
or installation of public or public-related improvements.
"Annexation agreement" means an agreement between the City of Lakewood
and an annexor setting forth the terms and conditions by which an annexor's
property is or was annexed to the city.
"Annexed property" means that property annexed to the City of Lakewood
pursuant to an annexation agreement.
"Annexor" means a person or persons or entity that has entered into
an annexation agreement with the City of Lakewood.
"Fund" means the annexation improvements fund created by the provisions
of this chapter. (Ord. O-90-46 § 1 (part), 1990).
3.29.040 Eligibility to receive moneys.
Eligibility to receive moneys from the fund shall be based upon approval by
the City Council, exercising its legislative discretion in good faith. Any annexor
of a retail sales tax generating business or location, or the annexor of property
where a proposed retail sales tax generating business will be located, may receive
moneys from the fund for constructing public or public-related improvements
only if such agreement is specifically stated in an annexation agreement and
sales tax revenues are generated from the annexed property. (Ord. O-90-46 §
1 (part), 1990).
3.29.050 Public purpose.
The uses to which the moneys from said fund may be put by an annexor shall be
strictly limited to those which are public or public-related in nature. Excess
moneys in the fund may be transferred by the city from time to time to the city's
general fund. In this chapter, public or public-related improvements shall mean
improvements, including but not limited to streets of all types, sidewalks,
curbs, gutters, asphalt pavement, concrete pavement, survey monuments, pavement
striping, rights-of-way, easements, access rights, construction plans, medians,
bridges, pedestrian malls, street lights, on-site and off-site drainage facilities,
water lines, sanitary sewer lines, landscaping, decorative structures, statuaries,
fountains, identification signs, traffic safety devices, pedestrian/bicycle
paths, off-street parking facilities, benches, restrooms, information booths,
public meeting facilities, parks, open space, hazardous waste cleanup, historic
renovation, facades, demolition, excavation, and renovation of public or public-related
improvements, and all necessary, incidental, and appurtenant structures and
improvements, together with the relocation and improvement of existing utility
lines, and administrative costs (provided that the reimbursement of such administrative
costs shall be limited to twenty percent of the total cost of the project),
and any other improvements of a similar nature which are specifically approved
by the City Council upon a finding by the Council that the improvements are
public or public-related improvements, and that such improvements shall enhance
the competitive position of the annexor within the Denver metropolitan area
marketplace. (Ord. O-90-46 § 1 (part), 1990).
3.29.060 Annual disbursements.
Disbursements to the annexor from the fund shall be determined on an annual
basis for actual expenditures for improvements unless otherwise provided in
the annexation agreement. Payment of the annual amount shall be due on February
15th of the year following the year within which such expenditures were made
unless otherwise provided in the annexation agreement. Except for administrative
costs, as a condition precedent to reimbursement from the fund the annexor must
submit copies of at least three bids and certify to the city that the work was
performed by the lowest responsible bidder. Then, upon presentation to the city
of receipts or proof of payment in form satisfactory to the city evidencing
payment for authorized public improvements, the annexor shall be eligible for
reimbursement from the fund. (Ord. O-90-46 § 1 (part), 1990).
3.29.070 Accounting system.
The City Council has determined that existing sources of city sales tax revenues
shall not be used, impaired, or otherwise affected by the fund. It shall be
the affirmative duty of the Director of Finance of the City of Lakewood to collect
all sales taxes generated from the annexed property and deposit all but those
portions of such taxes expressly excluded by the annexation agreement in the
annexation improvements fund as a special fund apart from the sales tax generated
by and collected from other sales tax generating uses and businesses within
the city. The Director of Finance shall provide an accounting system which accomplishes
the purpose of this section. It is conclusively stated by the City Council that
this chapter would not be adopted or implemented but for the provisions of this
section. Should the registered electors of the city vote to increase the city
sales tax, such increase may not be deposited in the annexation improvements
fund for any property annexed prior to such increase. (Ord. O-90-46 § 1
(part), 1990).
3.29.080 Approval by City Council-Criteria.
The City Council shall consider the following criteria in determining whether
to approve participation in the fund by an annexor:
A. The amount of sales tax which is reasonably expected to be derived by the
city through new retail sales tax generating business within the annexed property;
B. The public benefits which are provided by the annexor, including, but not
limited to, additional public or public-related improvements, additional employment
for residents, and other identifiable public benefits;
C. The amount of expenditures on public improvements which may be deferred by
the city based upon public or public-related improvements to be constructed
by the annexor;
D. Conformance of the annexation agreement with the requirements of Section
3.29.090. (Ord. O-90-46 § 1 (part), 1990).
3.29.090 Annexation agreement-Contents.
A. An annexation agreement may describe public or public-related improvements
to be constructed by the annexor and the amount the annexor may be reimbursed
for such construction from the sales tax derived from the annexed property;
provided, however, that the annexor may use said amount only for the public
or public-related improvements which are expressly stated in the annexation
agreement. If the City Council approves the use of fund moneys for construction
of public or public-related improvements contained in an annexation agreement,
a separate public improvements agreement between the annexor and the city may
still be required in conformance with the ordinances and procedures of the city.
Each annexation agreement shall at a minimum contain:
1. A list of those public or public-related improvements for which the annexor
shall receive reimbursement from the fund, and the amount which the annexor
shall receive as reimbursement from the fund for such public or public-related
improvements;
2. The maximum amount of sales taxes to be shared, and the maximum time during
which sharing shall continue, it being expressly understood that any such agreement
to share shall expire and be of no further force and effect upon the occurrence
of the earlier to occur of the lapse of the maximum time of the agreement (whether
or not the maximum amount to be shared has been reached) or the expenditure
of the maximum amount to be shared (whether or not the maximum time set forth
has expired); and
3. An affirmative statement that the obligations, benefits, and/or provisions
of said agreement may not be assigned in whole or in any part without the express
authorization of the City Council and further that no third party shall be entitled
to rely upon or enforce any provision of the agreement.
B. An annexation agreement may provide for a service extension charge to the
annexor for costs incurred in extending municipal services to the annexed property.
In the event such a service extension is established, sales taxes received from
the property must exceed the amount of the service extension charge before reimbursement
may be made for the public or public-related improvements.
C. Any annexation agreements entered into prior to July 1, 1990, shall be given
full force and effect notwithstanding any noncompliance with the provisions
of this chapter. (Ord. O-90-46 § 1 (part), 1990).
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