HomeMy WebLinkAbout09040RESOLUTION NO. 9040
A RESOLUTION APPROVING AN AGREEMENT BETWEEN
PUEBLO, A MUNICIPAL CORPORATION AND WS LAND, LLP
RELATING TO THE DEVELOPMENT OF A PORTION OF
WALKING STICK MASTER PLAN AREA
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Agreement dated as of June 12, 2000 between Pueblo, a municipal corporation and WS
Land, LLP, a copy of which is attached hereto, having been approved as to form by the City
Attorney, is hereby approved.
SECTION 2
The President of the City Council is authorized to execute and deliver the Agreement in the
name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same.
INTRODUCED: June 26, 2000
By Rich Golenda
Councilperson
ATTEST: APP ED:
,r
City erk Oresident of the City Council
JUNE 12, 2000 AGENDA - CITY COUNCIL BACKGROUND
MEMORANDUM - RESOLUTION APPROVING AN AGREEMENT
BETWEEN THE CITY OF PUEBLO AND WS LAND, LLP
RELATING TO THE DEVELOPMENT OF A PORTION OF
WALKING STICK MASTER PLAN AREA
The Resolution approves an agreement tween the City and WS Land, LLP which has in part
succeeded to the right of Holystone Corporation with respect to the development of a portion of the
Walking Stick Master Plan Area. Holystone Corporation on October 25, 1993 entered into a
contract with the City for reimbursement of City's costs which were to be paid August 1, 1999. The
Agreement extends the repayment period to no later than August 1, 2004 and clarifies that the
balance of the reimbursement as of March 15, 2000 is $227,107.95. The costs are to be reimbursed
by $500.00 per residential lot at the time building permits are applied for plus $100,000 before
recording the subdivision plat for the Enclave at Walking Stick.
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AGREEMENT
THIS AGREEMENT entered into as of �e /-1, , 2000 between Pueblo, a Municipal
Corporation, 1 City Hall Place, Pueblo, CO 81003 ( "City ") and WS Land, LLP, a Limited Liability
Partnership organized under the laws of the State of Colorado and duly authorized to conduct
business in the State of Colorado, 65 Proctor Avenue, Thornhill, Ontario DT 1 M6 ( "WS Land ").
RECITALS
A. City and Holystone Corporation, a Colorado Corporation ( "Holystone ") entered into a
Contract dated October 25, 1993 and recorded April 24, 1994 in Book 2729 at Page 740 of the
records of the Pueblo County Clerk and Recorder ( "Contract ") which in part provided for
reimbursement of certain construction costs expended by the City.
B. The Contract was entered into pursuant to the provisions of Article II of the Annexation
Agreement dated June 25, 1990 and recorded August 7, 1990 in Book 2510 at Page 564 of the
records of the Pueblo County Clerk and Recorder ( "Annexation Agreement ").
C. WS Land is the successor in interest to Holystone relating to the acquisition and
development of certain land at Walking Stick.
D. WS Land has requested the City to modify the Contract with respect to the
reimbursement requirements and City is willing to modify the Contract upon terms and conditions
set forth herein.
NOW, THEREFORE, in consideration of the foregoing Recitals and mutual covenants
contained herein, City and WS Land agree as follows:
1. Balance of Reimbursement. As of March 15, 2000, the balance of the costs to be
reimbursed to the City pursuant to Section B of the Contract is $227,107.95 (`Balance of
Reimbursement Costs "). The Balance of Reimbursement Costs represents the original
Reimbursement Costs, (1) after all credits for payments upon lot sales pursuant to Section B.2(a) of
the Contract; (2) after credits for approved Park Improvements pursuant to Section B.2(b) of the
Contract paid to the City and/or installed on or before March 1, 2000; and (3) after a debit in the
amount of $19,000.00 for the City to complete improvements required by the City for the Park.
2. Method of Reimbursement. WS Land will reimburse to the City the Balance of
Reimbursement Costs as follows:
(a) Upon the issuance of a building permit for each lot in the Special Area Plans
as defined in the Contract, whether individual lot, multiple lots, or en mass,
or in any other subdivision or special area plan subdivided by WS Land in the
Master Plan Area, including without limitation, the Enclave at Walking Stick
Subdivision, the applicant for the building permit shall pay to the City the
sum of $500.00 for each residential lot, and $1,000.00 for each acre of
commercial lot until the balance of the Reimbursement Costs less the
amounts deducted therefrom under (b) and (c) are paid in full.
(b) $100,000.00 in cash or certified funds prior and as a condition precedent to
the City's recording of the subdivision plat for the Enclave at Walking Stick
after final approval thereof by the City Council of City. Upon receipt of the
$100,000.00 by City, City will deposit same into the City Sewer Utility Fund
and will credit against and deduct the $100,000.00 from the Balance of
Reimbursement Costs.
(c) As of March 15, 2000, the sum of $55,433.05 is available in funds held in a
trust account by the City of Pueblo, Colorado based upon previous lot levies.
Any future receipt of funds from lot levies by the City of Pueblo, over and
above the $55,443.05 shall be credited against and deducted from the Balance
of Reimbursement Costs.
(d) Notwithstanding the foregoing (a), (b) and (c), the Balance of Reimbursement
Costs shall be due and payable in full to the City by WS Land on or before
August 1, 2004.
3. Park Improvements. WS Land shall have no further obligation to install or construct
improvements on the Park referenced in Section B.2(b) of the Contract.
4. Release. The City shall release the lots from the provisions of Section B of the Contract
and this Agreement upon payment of Five Hundred Dollars ($500.00) for each residential lot and
One Thousand Dollars ($1,000.00) for each acre of a commercial lot. The Director of Public Works
is authorized to execute and issue such releases in the name of the City. The Release shall be in a
form acceptable for recordation, including but not limited to the legal description of the specific lots
to be released. Except as released, until the Balance of the Reimbursement Costs have been paid
to the City in full, the provisions of Section B of the Contract and this Agreement shall remain in
effect and binding upon the land within the Master Plan Area and the parties to the Annexation
Agreement, the Contract, and this Agreement.
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5. Default. If WS Land shall default in the performance of any provision of this
Agreement, including the making of any payment provided for herein, and such default shall not be
cured within thirty (30) days after written notice specifying the default is given by the City of WS
Land, the Balance of Reimbursement Costs plus interest at the rate of 12% per annum from the date
of default shall without further notice immediately become due and payable in full by WS Land to
the City.
6. Representations and Warranties of WS Land. WS Land represents and warrants as
follows:
(a) WS Land is a Limited Liability Partnership organized under the laws of the
State of Colorado and duly authorized to conduct business in the State of
Colorado.
(b) WS Land has full power and authority to enter into this agreement and to
carry out the transactions contemplated hereby. The partners of WS Land
have taken all action required, whether by law, by WS Land's organizational
documents, or otherwise to authorize the execution and delivery of this
Agreement and the performance of the transactions contemplated hereby.
The execution, delivery and performance of this Agreement constitutes the
valid and binding agreement of WS Land enforceable in accordance with its
terms.
7. Recordation. This Agreement shall be recorded upon and the provisions of this
Agreement shall run with the land for the subdivision known as the Enclave at Walking Stick, which
subdivision is legally described in Exhibit "A" and is attached and incorporated by reference.
8. Miscellaneous Provisions.
(a) If any provision of this Agreement is determined to be invalid or
unenforceable, such determination shall not affect the validity of any other
provision hereof.
(b) This Agreement incorporates and includes the entire understanding between
the parties with respect to the subject matter hereof and shall be governed by
and construed in accordance with the laws of the State of Colorado.
(c) In the event of litigation arising out of this Agreement, the Court shall award
to the prevailing party all reasonable costs and expenses including attorney
fees.
(d) No delay or omission by the City to exercise any remedy or right shall impair
any such remedy or right or constitute a waiver thereof.
(e) It is the express intent of the parties hereto that except as modified by this
Agreement, the Contract and the Annexation Agreement shall remain in full
force and effect, inuring to the benefit of and binding upon the parties thereto
and land described therein.
Executed at Pueblo, Colorado the day and year firAabove written.
[SEAL]
RPORATION
Attest: BY
amity Clerk President of the City Council
WS LAND, LLP
c: \corel\ tuck \wsland \agreement.pueblo &wsland
By
Jog Pierre Scheidegger
President of TMC (Heritage) Corp.,
The sole general partner of WS Land, LLP
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.'P . . . . . .
LAND DESCRIPTION OF PLATTED LOT AREA
OF
ENCLAVE AT WALKING STICK
A portion of the NW1 /4 and SWIA of Section 17, Township 20 South, Range 64 West of the 6 P.M., County of
Pueblo, State of Colorado, being a portion of that Tract of Land conveyed to the Trustees of State Colleges in
Colorado by deed recorded in Book 1533 at Page 985 of the Pueblo County records and being more particularly
described as follows:
Considering the North line of said Section 17 to bear N.88 °45'07 "E. and all bearings contained herein being relative
thereto.
Commencing at the Northeast comer of said Section 17; thence S.64 °05'58 "W., a distance of 3352.54 feet to the
Easterly boundary line of Walking Stick Golf Course, as conveyed to the City of Pueblo by deeds recorded in Book
2430 at Page 651 and in Book 2630 at Page 446 of the said County records and the True Point of Beginning; thence
Southwesterly, along the arc of a curve to the left whose center bears S.47 °30'27 "E. and whose radius is1000.00
feet, a distance of 284.74 feet; thence S.26 °10'42 "W., a distance of 930.35 feet; thence S.3 1'07'54"W., a distance of
150.56 feet; thence S.26 °10'42 "W., a distance of 229.13 feet; thence S.71 °10'42 "W., a distance of 60.81 feet;
thence N.63 °49'18 'W., a distance of 151.27 feet; thence Westerly, along the arc of a curve to the left whose radius
is 540.00 feet, a distance of 167.33 feet to the said Easterly boundary line of Walking Stick Golf Course; thence
Northeasterly, along said boundary line the following eight (8) courses:
1. -N.17' 18'22 "E., a distance of 435.74 feet;
2. 998 0 08'01 "E., a distance of 235.55 feet;
3. N.07'01' 13"E., a distance of 466.71 feet;
4. N.07 °35'02 "W., a distance of 237.05 feet;
5.' N.29 °22'01 "E., a distance of 86.60 feet;
6. N.73 °2 1'34 "E., a distance of 243.61 feet;
7. N.77 °43'50 "E., a distance of 108.53 feet;
8. S.69'01' 16"E., a distance of 448.86 feet to the Point of Beginning.
Containing 17.87 acres.
Prepared by: NORTHSTAR ENGINEERING AND SURVEYING, INC.
111 E. 5` Street
Pueblo, CO 81003
November 6, 1997
JN 97 100 00
EXHIBIT "A"
9710000.1006