Title
RESOLUTION APPROVING GRANT OF CONSERVATION EASEMENT IN GROSS TO ADAMS COUNTY, COLORADO
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Summary and Background Information:
On July 31, 2012 a master plan for the distribution of the $10 million Foundation Fund from the Natural Resource Damage settlement ("NRDS") associated with the Rocky Mountain Arsenal was approved by the State Trustees. Commerce City was awarded $2.6 million. Per the master plan, this funding is to be used to acquire, remediate and restore two properties along the Sand Creek Regional Greenway (WE Holdings and Multi-Contractors.)
City Council passed Resolution 2012-24 on June 18, 2012 approving the use of the NRDS funds for the acquisition, remediation and the restoration of the WE Holdings and Multi-Contractor properties. A closing date of January 17, 2014 has been set for both properties.
The funding agreement between Commerce City and the State of Colorado requires that a conservation easement be placed on the two properties to ensure they remain open space (with the opportunity for limited passive recreation development) in perpetuity. A resolution from City Council approving the Conservation Easement in Gross to Adams County, Colorado is required before the City closes on the properties.
Staff Responsible (Department Head): Carolyn Keith
Staff Member Presenting: Mike Brown
Financial Impact: N/A
Funding Source: N/A
Staff Recommendation: Approve