Title
Closing Date Extension for Sale of the Mile High Greyhound Park Property
Body
Delwest and the City’s development review team have made a lot of progress on the Mile High Greyhound Park plat for twelve tracts, park, dedication of rights-of-way, regional detention pond, and an associated public improvement agreement. Actions taken since the First Amendment to the Purchase and Sale Agreement include:
· Delwest has submitted a draft Public Improvement Agreement to the City, which is a requirement for the plat to be recorded.
-Staff is working with Delwest’s council to revise the agreement There are unique challenges with the PIA for this project due to the financing requirements for the LIHTC project portion of the site.
· The City and Delwest have been meeting to work on the plat. Initial comments were provided to Delwest at the end of January, and additional comments have been sent since.
-Delwest was asked to make some programmatic changes to the park, drainage, and connecting roads/open space within and adjacent to the parcel to improve the usability of the open space. These changes impact the infrastructure package and PIA requiring changes to be coordinated between all the active submittals.
-There are minor legal description issues that both parties are working to resolve. The changes to the plat also necessitate updates to the legal description.
· The City and Delwest are in communication with CDPHE about the historic plume. At this time, neither party needs to file an insurance claim.
-Delwest continues to test the site
· The design guidelines have been completed and approved by the City and the CCURA and are being used to review all development currently proposed on the site.
· The process for infrastructure engineering is moving along and the City’s outside consultant is currently reviewing Kimley Horn’s most recent submittal.
· Delwest received their tax credit approvals for the 4% LIHTC project and will self-finance the single-home p...
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