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RESOLUTION: 2008-13
SUBJECT: Entering into a Master Property Conveyance Agreement and subsequent implementing agreements with the One Horse Business Improvement District in order to give the District credit against existing or future obligations to provide public improvements in exchange for land or other improvements that may be provided by the District. The initial parcel of land to be conveyed pursuant to such Agreement is located at the northwest corner of Colfax Avenue and Youngfield Street. The land will be used for roadway improvements.
RECOMMENDATION: Approval.
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The City of Lakewood has previously entered into several agreements with the predecessors of the One Horse Improvement District. Such agreements have been assigned to the District. These agreements relate to construction of public improvements by the District to serve the Colorado Mills area. Approving this Master Property Conveyance Agreement will allow the transfer of property or improvements to the City of Lakewood in exchange for credit against the District's existing or future public improvement obligations. Each proposed transfer will be evaluated at the time it is proposed and the City may accept or reject it. If accepted, the City will enter into an agreement to grant a credit for the property or improvement received.
The first use of this agreement will be a City 2008 project to reconstruct the Colfax Avenue/Youngfield Street intersection. By accepting the property on the northwest corner of the existing intersection, the City can realign the intersection geometrics to enhance safety.
FUNDING SOURCE: N/A
RESOLUTION ADOPTION DATE: January 14, 2008
ORIGINATED BY: City Attorney's Office
STAFF PERSON RESPONSIBLE: Tim Cox, City Attorney, 303-987-7451
DOCUMENTS ATTACHED: Resolution
2008-13
Master Property Conveyance
Agreement
Map
SUBMITTED BY:
Timothy P. Cox, City Attorney
REVIEWED BY:
Joni Inman, Director, Mayor and City Manager's Office
Michael J. Rock, City Manager
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