RESOLUTION: LRA-2008-4

SUBJECT: Authorizing a Cooperation Agreement between the City of Lakewood ("City") and the Lakewood Reinvestment Authority ("LRA").

ADDRESS: N/A

RECOMMENDATION: Adoption of the Resolution will formally enable the Lakewood Reinvestment Authority to become involved in the City of Lakewood's station area projects with the Regional Transportation District ("RTD").

FUNDING SOURCE: N/A

SUMMARY AND BACKGROUND OF SUBJECT MATTER: The City of Lakewood is a party to agreements with the Regional Transportation District to implement the construction of betterments at two West Corridor Light Rail Stations. Upon approval of these projects by the LRA board, and related financing, this Cooperation Agreement will authorize the Lakewood Reinvestment Authority to transfer necessary funds to the City so that the City can reimburse Regional Transportation District ("RTD") for the Station Betterments.

PROJECT DESCRIPTION: Station Betterments at the Oak Street Station and at the Wadsworth Boulevard Station.

RESOLUTION ADOPTION DATE: September 22, 2008

ORIGINATED BY: Larry Dorr, LRA Treasurer

STAFF PERSON RESPONSIBLE: Larry Dorr, LRA Treasurer, 303-987-7061

DOCUMENTS ATTACHED: Resolution LRA 2008-4
Cooperation Agreement

SUBMITTED BY:
Rebecca P. Clark, LRA Director
Larry Dorr, LRA Treasurer

REVIEWED BY:
Michael J. Rock, Executive Director

LRA 2008-4

A RESOLUTION

OF THE BOARD OF COMMISSIONERS OF THE LAKEWOOD REINVESTMENT AUTHORITY AUTHORIZING THE COOPERATION AGREEMENT BETWEEN THE CITY OF LAKEWOOD AND THE LAKEWOOD REINVESTMENT AUTHORITY REGARDING THE RTD STATION BETTERMENTS

WHEREAS, the Lakewood Reinvestment Authority (the "Authority") is a public body corporate and politic, and has been duly created, organized, established and authorized by the City of Lakewood, Colorado (the "City"), to transact business and exercise its powers as an urban renewal authority, all under and pursuant to the Colorado Urban Renewal Law, constituting Part 1 of Article 25 of Title 31, Colorado Revised Statutes, as amended (the "Act"); and

WHEREAS, an urban renewal plan, known as the "West Colfax Avenue Corridor Reinvestment Plan" (the "Plan"), was duly and regularly approved by the City Council of the City on December 12, 2005, for urban renewal projects in the Plan Area under the Act; and

WHEREAS, the Authority Board has approved the RTD Station Betterment Project; and

WHEREAS, the Authority has agreed to convey to the City funds necessary for the construction of the RTD Station Betterment Project in the form of the attached Cooperation Agreement Between The City of Lakewood and The Lakewood Reinvestment Authority regarding The RTD Station Betterment Project.

NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Lakewood Reinvestment Authority, Colorado, that:

SECTION 1. The Executive Director of the Authority is hereby authorized to execute, in form approved by the Authority attorney, the Cooperation Agreement Between The City of Lakewood and The Lakewood Reinvestment Authority regarding The RTD Station Betterment Project, in a form acceptable to the Authority's Attorney.

INTRODUCED, READ AND ADOPTED by a vote of 10 for and 1 against at a regular meeting of the Board of Commissioners of the Lakewood Reinvestment Authority on September 22, 2008, at 6:00 p.m. at Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.

Bob Murphy, Chair

ATTEST:
Michael J. Rock, Executive Director

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