Loading...
HomeMy WebLinkAbout14433RESOLUTION NO. 14433 A RESOLUTION AUTHORIZING THE CITY OF PUEBLO TO GRANT CONDITIONAL WAIVERS OF FEES RELATING TO WASTEWATER UTILITY TAP AND PLANT INVESTMENT FEES TOTALING A MAXIMUM OF $317,020 FOR THE PUEBLO SPRINGS APARTMENT COMPLEX LOCATED ON THE SOUTHWEST CORNER OF NORTH PUEBLO BOULEVARD AND ST WEST 31 STREET IN THE CITY OF PUEBLO FINDINGS OF FACT a. The City Council finds and determines that it has been several years since a large-scale apartment complex has been developed in the City of Pueblo; and b. The lack of new large-scale apartment complexes in the City has a negative impact on the City’s economic development; and c. Annexation of the Pueblo Springs Apartments 20 acre complex into the corporate city limits of the City of Pueblo will result in the recovery of sales and use tax revenue associated with the construction of the project and future real property tax revenue in amounts far in excess of Wastewater Utility fees waived by this Resolution; and d. The waiver of fees for Wastewater Utility tap and plant investment fees as authorized by this Resolution is for a public purpose and in furtherance of a municipal function and will enhance economic development in the City. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, acting as the governing board of the City’s Wastewater Utility Enterprise, that: SECTION 1. The City of Pueblo, acting by and through its Wastewater Utility Enterprise, hereby grants a waiver of wastewater utility tap and plant investment fees up to a maximum amount of $317,020 to the Pueblo Springs Apartments, located in the southwest corner of North Pueblo Blvd. and st West 31 St. in the City. SECTION 2. The waiver of wastewater utility fees as provided in this Resolution will expire on July 31, 2021, unless on or before that date, Pueblo Springs Apartments provides the City with satisfactory proof of the following: 1. With respect to Pueblo Springs Apartments 20-acre complex, successful completion of the following milestones: a. Subdivision of the property; b. Rezoning of the property; c. Annexation of the 20-acre parcel into the corporate city limits of the City of Pueblo. 2. Issuance of a Building Permit for construction of the Pueblo Springs Apartments by the Pueblo Regional Building Authority. SECTION 3. Pueblo Springs Apartments shall not begin construction of improvements on its 20-acre property until the satisfaction of the conditions set forth in Section 2 of this Resolution. SECTION 4. The July 31, 2021 deadline specified in Section 2 shall be extended as follows, upon the occurrence of the following events: a. If the U.S. Department of Housing and Urban Development (“HUD”) does not approve the financing for Pueblo Springs Apartments by July 31, 2021, the deadline shall be extended for an additional six (6) months. b. If HUD requires that the development Pueblo Springs Apartments occur in two (2) or more phases, the July 31, 2021 deadline shall be extended for the second and each succeeding phase of development. SECTION 5. This Resolution shall not serve as a precedent for the granting of waivers of Wastewater Utility fees in the future. The decision to grant a waiver of wastewater utility tap and plant investment fees to Pueblo Springs Apartments was based on the particular facts surrounding the Pueblo Springs Apartments development. As was done with Pueblo Springs Apartments, future requests for waivers of Wastewater Utility fees shall be considered on a case-by-case basis. SECTION 6. The officers of the City are authorized and directed to perform any and all acts consistent with the intent of this Resolution to effectuate the policies and procedures described herein. SECTION 7. This Resolution shall become effective immediately upon final passage. INTRODUCED July 13, 2020 BY: Robert Schilling MEMBER OF CITY COUNCIL APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: CITY CLERK City Clerk’s Office Item # M-1 Background Paper for Proposed Resolution COUNCIL MEETING DATE: July 13, 2020 TO: President Dennis E. Flores and Members of City Council CC: Mayor Nicholas A. Gradisar VIA: Brenda Armijo, City Clerk FROM: Scott Hobson, Acting Director of Planning and Community Development SUBJECT: A RESOLUTION AUTHORIZING THE CITY OF PUEBLO TO GRANT CONDITIONAL WAIVERS OF FEES RELATING TO WASTEWATER UTILITY TAP AND PLANT INVESTMENT FEES TOTALING A MAXIMUM OF $317,020 FOR THE PUEBLO SPRINGS APARTMENTS LOCATED ON THE SOUTHWEST ST CORNER OF NORTH PUEBLO BOULEVARD AND WEST 31 STREET IN THE CITY OF PUEBLO SUMMARY: Attached is a Resolution authorizing the City of Pueblo to grant conditional waivers of fees for wastewater utility tap and plant investment fees totaling up to $317,020 requested by the developer of the Pueblo Springs Apartments, located in the southwest corner of North Pueblo st Blvd. and West 31 St. in the City. PREVIOUS COUNCIL ACTION: None. BACKGROUND: Pueblo Springs Apartments is a proposed 242-unit apartment complex to be constructed at the st southwest corner of North Pueblo Blvd. and West 31 St. in the City. The project will provide housing for new and existing residents of the City. As an incentive to reduce the overall costs of construction of this project, the waiver of fees for wastewater utility tap and plant investment fees has been requested by the developer. Under the attached proposed Resolution, the waiver of the wastewater utility fees will expire on July 31, 2021, unless on or before that date, the developer provides satisfactory proof of the following: 1. With respect to Pueblo Springs Apartments 20-acre complex, successful completion of the following milestones: a. Subdivision of the property; b. Rezoning of the property; c. Annexation of the 20-acre parcel into the corporate city limits of the City of Pueblo. 2. Issuance of a Building Permit for construction of the Pueblo Springs Apartments by the Pueblo Regional Building Authority. FINANCIAL IMPLICATIONS: The Wastewater Utility will not receive tap and plant investment fees for this project as follows: Fee Type Amount Tap Fees $171,820 Plant Investment Fees $145,200 Total $317,020 BOARD/COMMISSION RECOMMENDATION: Not applicable to this Resolution. STAKEHOLDER PROCESS: Not applicable to this Resolution. ALTERNATIVES: Failure to approve this Resolution will likely significantly delay or make the Pueblo Springs Apartments Project financially unfeasible. RECOMMENDATION: Approve the Resolution. Attachments: Proposed Resolution