Preview | Development Agreement | The City of Westminster; Community Builders, Inc.; CET Services Inc.

Document Preview

Development Agreement

Click "Add to Cart" button to purchase document.
Documents are emailed immediately after purchase.
You can also browse documents by title, category, or company... or click here for help finding documents.

Title:

Development Agreement

Entities:

The City of Westminster; Community Builders, Inc.; CET Services Inc.

Date:

2003

Size:

Preview shows 3KB of 54KB total

Price:

$39

ID:

#147217

► Real Estate ► Real Estate Development Agreements

Start of Preview



                             A DEVELOPMENT AGREEMENT

                                     Between



                             The City of Westminster

                                       and

                            Community Builders, Inc.



                                 Related to the



                        73RD AVENUE/LOWELL BOULEVARD AREA

                              REDEVELOPMENT PROJECT



         This Agreement is made and entered into this 23rd day of December,

2002, by and between the CITY OF WESTMINSTER (City) and COMMUNUY BUILDERS, INC.

(Developer).



         WHEREAS, the City has indicated its desire to improve and redevelop the

area in the immediate vicinity of Lowell Boulevard and 73rd Avenue, including

the property known as the Aspen Care Nursing Home property, and whereby the

Westminster Economic Development Authority (WEDA) selected a developer to

prepare redevelopment plans for the area; and,



         WHEREAS, the Developer has prepared and submitted redevelopment plans

in accordance with standard development review procedures established by the

Westminster Municipal Code, and,



         WHEREAS, the Developer has fulfilled its obligations relative to the

pre-development agreement approved by WEDA and the City on December 18, 2001;

and,



         WHEREAS, the Developer has all of the property, either in ownership or

under contract to purchase, that is necessary to proceed with the first phase of

development; and,



         WHEREAS, the City and the Developer wish to set forth the terms upon

which the Developer shall proceed with development activity;



         NOW, THEREFORE, in consideration of the above premises, covenants,

promises, and agreements set forth below, and for other good and valuable

consideration, the receipt and adequacy of which are hereby acknowledged, the

parties agree as follows:



         1.    DEFINITIONS



         REDEVELOPMENT PARCELS shall mean Site I, Site II, and Site III, as

legally described in Exhibit A attached hereto.



         DEFAULT means those occurrences or events specified and defined in

section 9 of this Agreement.



         FEES shall mean: the required development and building-related fees and

taxes applicable to the Project, including but not limited to:



              a.  Planning and Engineering Processing Fees, as applicable and

more specifically detailed in Exhibit B;

              b.  Building Permit Fees, as applicable and reflected in

End of Preview

Home Intelligence Services Subscriptions News About Us