SUBJECT:
Title
A Resolution of the Town Council of the Town of Erie Approving the Tenth Amendment to the Disposition and Development Agreement with the Town of Erie Urban Renewal Authority and Evergreen-287 & Arapahoe, LLC
Body
DEPARTMENT: Economic Development
Department
PRESENTER(S): Julian Jacquin, Economic Development Director
First Name Last Name, Title
POLICY ISSUES:
This item has minimal policy implications.
STAFF RECOMMENDATION:
Recommendation
Approve the Tenth Amendment to the Disposition and Development Agreement.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Town of Erie Urban Renewal Authority, the Town of Erie and Evergreen 287 & Arapahoe LLC entered into a Disposition and Development Agreement for the Nine Mile Corner development dated March 22, 2016. Since the inception there have been nine amendments, most recently on Sept. 16, 2021. With the 9th amendment, a 2021 tax rate was included in the Fee Schedule (Exhibit B) for the Boulder County Open Space Use Tax, which has since been updated by Boulder County. The proposed 10th amendment would update that language again to remove the actual use tax rate figure and allow it to flex with rate amendments adopted by Boulder County from time to time.
COUNCIL PRIORITY(S) ADDRESSED:
ü Prosperous Economy
ü Effective Governance
ü Fiscally Responsible
ATTACHMENT(S):
1. Resolution #24-049
2. Agreement