HomeMy WebLinkAbout7442RESOLUTION NO. 7 4 4 2
A RESOLUTION APPROVING THE DESIGNATION OF 1NTRA
FINANCIAL CORPORATION AS THE PREFERRED DEVEL-
OPER TO ENTER INTO AN EXCLUSIVE NEGOTIATION
AGREEMENT FOR THE DEVELOPMENT OF A HOTEL CIVIC
CENTER COMPLEX FOR THE AMENDED PHASE ONE URBAN
RENEWAL PROJECT FOR DOWNTOWN PUEBLO
WHEREAS, the Urban Renewal Authority of Pueblo, Colorado and Windsor Capital Group
were unable, after good faith negotiations, to reach a mutually acceptable Disposition and
Development Agreement, and
WHEREAS, the exclusive negotiating period with Windsor Capital Group expired and the
Urban Renewal Authority of Pueblo, Colorado designated Intra Financial Corporation as the
preferred developer to enter into an exclusive negotiating agreement for the disposition and
development of a hotel civic center complex. NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The City Council does hereby ratify and approve the designation of Intra Financial
Corporation (the "Developer ") by the Urban Renewal Authority of Pueblo, Colorado (the
"Authority ") as the preferred developer to enter into an exclusive negotiation agreement with the
Authority for the disposition and development of a hotel civic center complex for the Amended
Phase One Urban Renewal Project For Downtown Pueblo (the "Urban Renewal Plan") subject to
compliance with Section 3(b) of Ordinance No. 5853 relating to the procurement of contracts for the
construction of all or any part of the Amended Phase One Urban Renewal Project which is funded
in whole or in part by the proceeds of the Series 1986A Bonds through competitive bidding
procedures which allow competent and qualified local contractors and subcontractors a reasonable
opportunity to participate in such competitive bidding.
INTRODUCED: August 8, 1994
By CHRIS WEAVER
Councilperson
A ROVED:
J
By
President of the City Council
L/