SUBJECT:
Title
A Resolution of the Board of Commissioners of the Town of Erie Urban Renewal Authority Approving the Ninth Amendment to the Disposition and Development Agreement with Evergreen-287 & Arapahoe, L.L.C. and the Town of Erie for the Nine Mile Corner Development
Body
DEPARTMENT: Economic Development
PRESENTER: Lucas Workman, Economic Development Coordinator
TIME ESTIMATE: 10 minutes
only required for non-consent items
FISCAL SUMMARY: N/A
STAFF RECOMMENDATION:
Recommendation
To approve the resolution to amend the Evergreen Nine Mile DDA to correct the Boulder County Open Space Use Tax rate.
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 (the "DDA"). Since the inception there have been 8 amendments. During the 7th amendment, a previous tax rate for the Boulder County Open Space Use Tax was erroneously included in the Fee Schedule (Exhibit B) rather than the agreed upon 2016 rate. This amendment is to correct the Boulder County Open Space Use Tax rate from the erroneous amount of 0.65 to the correct amount, 0.985.
Fiscal Impact: N/A
Board Priority(s) Addressed:
ü Effective Governance
ü Fiscally Responsible
ATTACHMENTS:
1. URA Resolution #21-10
2. Agreement