Town of Erie
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File #: 23-548    Version: 1 Name:
Type: Consent Agenda Status: Agenda Ready
File created: 10/29/2023 In control: Town Council
On agenda: 11/14/2023 Final action:
Title: A Resolution of the Board of Trustees of the Town of Erie Approving the First Amendment to Development Agreement for Sunset Filing No. 1
Attachments: 1. Resolution No. 23-135, 2. First Amendment to Sunset Filing No.1 Development Agreement

SUBJECT: 

Title

A Resolution of the Board of Trustees of the Town of Erie Approving the First Amendment to Development Agreement for Sunset Filing No. 1

Body

 

DEPARTMENT:                        Planning and Development

Department

 

PRESENTER:                       Christopher LaRue, Principal Planner

First Name, Last Name, Title

 

STAFF RECOMMENDATION:

Recommendation

Approve the resolution authorizing the First Amendment to the Sunset Filing No. 1 Development Agreement.

End

 

SUMMARY AND BACKGROUND OF SUBJECT MATTER:

On Dec. 15, 2021, the Town of Erie and the Developer entered into a Development Agreement for Sunset Filing No. 1. This agreement was recorded with the Weld County Clerk and Recorder on Jan. 31, 2022, at Reception No. 4798371. The Town and Developer now wish to amend the Development Agreement to modify initial acceptance for particular phases, add a phase, and modify exhibits reflecting those modifications. The developer requested the amendments due to delays in offsite utility installations. The phase boundaries need to be adjusted, which also requires adjustments to the phase quantities and costs. The original Phase 1 became larger, and the original Phase 2 became smaller.

 

The proposed amendments added Phase 1A to Filing No.1. The proposed amendment requires:

                     Initial Acceptance for Phase 1 on or before Dec. 31, 2023;

                     Initial Acceptance for Phase 1A on or before Dec. 31, 2024; and

                     Initial Acceptance for Phase 2 on or before Dec. 31, 2024.

 

The applicant provided an updated Exhibit B-1 and Exhibit C-1 to reflect the above phasing changes.

 

BOARD PRIORITY(S) ADDRESSED:

ü                     Prosperous Economy

ü                     Effective Governance

ü                     Fiscally Responsible

 

ATTACHMENT(S):                      

1.                     Resolution No. 23-135

2.                     First Amendment to Development Agreement (Sunset Filing No. 1)