SUBJECT: Consent
Title
A Resolution Authorizing The Town Of Erie, Colorado To Enter Into an Agreement with Community Development Group to Accept Payment for Settlement of Required Contribution of Construction Costs for the Colliers Hill Neighborhood Park; Authorizing and Directing the Appropriate Town Officers to Sign Said Agreement; And Setting Forth Details in Relation Thereto.
Body
DEPARTMENT: Parks & Recreation
PRESENTER: Farrell Buller, Parks & Recreation Director
FISCAL INFORMATION: N/A
STAFF RECOMMENDATION:
Recommendation
Approve resolution authorizing the appropriate Town Officers to sign said agreement with Community Development Group.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Bridgewater Annexation Agreement dated October 9, 2007 requires neighborhood parks to be dedicated and constructed in accordance with the Approved PUD and Municipal Code, Title 10.The developers responsibility towards completion of a neighborhood park per the annexation agreement is defined as up to three acres of irrigated turf and one pocket park equivalent. In February of 2016 the Town of Erie and Community Development Group (CDG) entered into an agreement to complete the design process up to and including construction documents. With this phase of the project complete the Town is now ready to move forward with construction of the neighborhood park, known as Serene Park.
It has been agreed with CDG that their financial responsibility as outlined above is as follows:
Three acres of irrigated turf $175,000.00
One pocket park equivalent $175,000.00
10% contingency 35,000.00
Total $385,000.00
The attached agreement states that with the payment of $385,000.00 to the Town CDG has fulfilled it's share of the Serene Park improvement costs. The agreement further stipulates that Town shall use these funds to complete these park improvements and Serene Park shall be completed within 24 months of the receipt of payment from CDG.
Upon execution of th...
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