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2004-49

A RESOLUTION

AUTHORIZING THE CITY OF LAKEWOOD TO ENTER INTO AN AGREEMENT WITH THE CITY OF GOLDEN

WHEREAS, the City of Golden ("Golden") and the City of Lakewood ("Lakewood") entered into an Intergovernmental Agreement dated January 1997 regarding "The Establishment of a Mutual Planning Area Boundary" (the "Planning Agreement"); and

WHEREAS, Golden and Lakewood entered into an Intergovernmental Agreement dated April 1, 1998 pertaining to the funding of improvements to the interchange at U.S.6 and Indiana Street (the "Interchange Agreement"); and

WHEREAS, the Interchange Agreement provided for various scenarios for calculating Golden's percentage share of the cost of interchange improvements, based upon land uses that were expected to be developed within properties near the interchange and annexed to Golden since 1997; and

WHEREAS, none of the scenarios contemplated in the Interchange Agreement accurately reflect the uses constructed or to be constructed within the property annexed to Golden; and

WHEREAS, Golden's finance department records show that the amount placed in a reserve account through the end of calendar year 2002, pursuant to paragraph C. 3. a. of the Interchange Agreement, was $80,413.00, which amount was paid to Lakewood in May 2003 in partial satisfaction of Golden's obligations under the Interchange Agreement; and

WHEREAS, the Parties wish to agree on a final cost participation amount for Golden, the current status of Golden's obligations, and the manner and time by which future payments by Golden will be made; and

WHEREAS, the Parties have agreed that all funds paid by Golden to Lakewood under the terms of the Interchange Agreement shall be remitted to the One Horse Business Improvement District, as the successor to the 640 Improvement Corporation which guaranteed the satisfactory completion of the interchange improvements, upon receipt of such funds by Lakewood.

NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakewood, Colorado, that:

SECTION 1. The City is authorized to enter into an agreement with Golden entitled First Amendment to Interchange Agreement, relating to Golden's contribution to construction of the interchange at U.S. 6 and Indiana Street.

SECTION 2. The City Manager is authorized to execute and the City Clerk to attest to the Agreement, in form approved by the City Attorney.

SECTION 3. This Resolution shall be in full force and effect upon its passage and approval.

INTRODUCED, READ AND ADOPTED by a vote of _____ for and _____ against at a regular meeting of the City Council on May 10, 2004, at 7 o'clock p.m. at Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.

Stephen A. Burkholder, Mayor

ATTEST:
Margy Greer, City Clerk