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EPURA RESOLUTION 357
RESOLUTIONNO.357ARESOLUTIONOFTHEESIESPARKURBANRENEWALAUTHORITYTENTATIVELYACCEPTINGAPROPOSALFORTHEREDEVELOPMENTOFTHEBOB’SAMOCOSITE,CONTiNGENTUPONAGREEMENTONCERTAiNDETAILSANDCONDITIONSWHEREAS,theEstesParkUrbanRenewalAuthority(EPURA)haspublishedaRequestforProposals(RFP)fortheredevelopmentoftheBob’sAmocositeat172WestElkhomAvenue,consistentwiththerequirementsoftheColoradoStatutes;andWHEREAS,twoproposalshavebeenreceived,onefromtheCulturalArtsCouncilofEstesParkandanotherfromCardinalProperties,LLCentitledRiverspointeDowntown;andWHEREAS,EPURAhascarefullyevaluatedtheseproposalsinlightofitsgoalsandapplicationofseveralcriteriaincluding:abilitytofunctionasananchortoattractmoreshopperstothewesternportionofdowntown,complementarynaturetothearea,diversificationofdowntownuses,economicenhancementandpotentialtogeneratepublicrevenue,recoupingofEPURA’sinvestmentintheproperty,certaintyofhappeningandtimingoftheproposeddevelopment;andWHEREAS,aftercarefulevaluation,theEPURABoardhasconcludedthattheproposalofCardinalProperties,LLCmostnearlyachievesEPURA’sgoalsandfaresbestrelativetoapplicationoftheabovecriteria.NOW,THEREFORE,BEITRESOLVEDBYTHEESTESPARKURBANRENEWALAUTHORITYTHAT:TheEPURABoardofCommissionersherebyacceptstheproposalofCardinalProperties,LLCfortheredevelopmentoftheBob’sAmocosite,contingentuponthesatisfactoryagreementbybothpartiesconcerningcertaindetailsandconditionstoensureasound,workableandprofitableendeavorforEPURA,CardinalProperties,LLCandtheTownofEstesPark.Thesedetailsandconditionsinclude,butarenotlimitedto:flexibility.The4,836Sf,moreorless,condominiumspacetobedeededtoEPURAshallbeaccomplishedinsuchawayastoprovidemaximumflexibilityforuse,toaccommodateasfewasoneuserorasmanyasfiveusers.DetailsoffinishedSpace.ThecondominiumspacetobedeededtoEPURAshallbefinishedtonormalindustrystandardsforcommercialspace,toincludedrywall,electrical,plumbingandheating,ventilationandairconditioning,consistentwiththeflexibilityconsiderationsnotedabove.RecoupingofInvestment.Ataminimum.EPURAshallrecoupitsinvestmentof$1,000,000thatitpaidfortheproperty.ArchitecturalApproval.InadditiontothenormaldevelopmentreviewandapprovaloftheTownofEstesPark,EPURAshallapprovethearchitecturaldetailsofRiverspointeDowntown,withspecialattentiontotheportiontobedeededtoEPURA,includingroofdetails. QLegalApproval.Asthecontractualdocumentsandrelatedagreementsproceed,alldocumentsandagreementsshallbesubjecttotheapprovalofEPURAlegalcounsel,WindholzandAssociates.ADOPTED,this20thdayofOctober,2004.ESTESPARKURBANRENEWALAUTHORITYChairmanATTEST:Secretary/