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RESOLUTION APPROVING INTERGOVERNMENTAL AGREEMENT BETWEEN THE COMMERCE CITY NORTHERN INFRASTRUCTURE GENERAL IMPROVEMENT DISTRICT AND THE URBAN RENEWAL AUTHORITY OF THE CITY OF COMMERCE CITY RELATING TO WATER RESOURCES FOR THE REDEVELOPMENT OF THE MILE HIGH GREYHOUND PARK
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Summary and Background Information:
By eliminating blight, revitalizing the MHGP site, and fostering economic development, the Mile High Greyhound Park will provide substantial benefits to the City, citizens, and the surrounding metro area. As such, it is imperative that the redevelopment project receives water allocations necessary to support the planned residential development.
In 2011, the Commerce City Urban Renewal Authority (CCURA) purchased the former Mile High Greyhound Park site (MHGP). In 2018, the City Council approved the Urban Renewal Plan for the MHGP. As part of the 2019 Purchase and Sale Agreement providing for the development of the MHGP, the CCURA agreed to make water rights identified as Equivalent Residential Units (“ERUs”) available, at no cost, for the residential development within the MHGP. The CCURA must possess and confirm these water rights as a condition to the closing anticipated in 2020. (“Prior to Closing, Seller shall provide written confirmation (“Water Sufficiency Confirmation”) from the South Adams County Water and Sanitation District (“SACWSD”) that Seller has sufficient water rights acceptable to SACWSD to serve the number of residential units allowed by the PUD Permit and Master Subdivision plat for the Property. Said water rights consist of ERUs owned by Seller which are acceptable to SACWSD to provide water to the Property and which are recorded in Seller’s accounts with SACWSD, and shall be made available to buyer or occupants of the Property at no cost. Buyer, or subsequent owners of Property, shall be responsible for the payment of any fees to any responsible local agency to obtain water taps and for any cost of actual usage water within ...
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