HomeMy WebLinkAboutFURA 26-02 IGA Between FURA and Central Firestone District 01-14-2026Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
FURA RESOLUTION NO. 2026-02
A RESOLUTION APPROVING THE INTERGOVERNMENTAL AGREEMENT BY AND
BETWEEN THE FIRESTONE URBAN RENEWAL AUTHORITY AND THE CENTRAL
FIRESTONE DISTRICT
WHEREAS, the Firestone Urban Renewal Authority ("FURA") is a public body corporate
and politic organized as of July 24, 2009, and authorized to transact business and exercise its
powers as an urban renewal authority under and pursuant to the Colorado Urban Renewal Law,
Part I of Article 25 of Title 31, C.R.S. (the "URA Act"); and
WHEREAS, more specifically, FURA has undertaken to eliminate and prevent blight and
to prevent injury to the public health, safety, morals, and welfare of the residents of the Town of
Firestone, Colorado (the "Town"); and
WHEREAS, pursuant to C.R.S. § 31-25-801 et seq. (the "DDA Act"), the Central Firestone
District (the "CFD") is a public body corporate and politic duly established upon approval of the
qualified electors, as defined in the DDA Act, at a special election on July 1, 2025, and authorized
to exercise all powers provided for in the DDA Act; and
WHEREAS, the Board of Trustees (the "Town Board") for the Town by Resolution 10-04
on January 28, 2010, as amended by Resolution 15-49 on October 28, 2015, approved and adopted
the Southern Urban Renewal Area Plan (the "Southern URA Plan"); by Resolution 13-32 on June
12, 2013, as amended by Resolution 15-49 on October 28, 2015, approved and adopted the
Northern Firestone Urban Renewal Area Plan (the "Northern URA Plan"); and by Resolution 15-
62 on December 16, 2015, approved and adopted the Central Firestone Urban Renewal Area Plan
(the "Central URA Plan"). Each of the Southern URA Plan, Northern URA Plan, and Central URA
Plan may be referred to herein individually as a "URA Plan" and, collectively, as the "URA Plans";
and
WHEREAS, each URA Plan details the inclusion of the real property described in such
URA Plan (collectively, "URA Plan Areas") for the purposes authorized in the URA Act, including
utilizing tax increment financing, as contemplated by C.R.S. § 31-25-107(9)(a).
WHEREAS, the Town Board by Resolution 25-89 on August 13, 2025, approved and
adopted The Central Firestone District Plan of Development (the "CFD Plan of Development")
establishing the central business district (as defined by C.R.S. § 31-25-802(3)) of the Town
pursuant to C.R.S. § 31-25-807(2)(d) (the "CFD Plan Area") and authorizing the use of tax
increment financing within its boundaries pursuant to C.R.S. § 31-25-807(3); and
WHEREAS, the URA Plan Areas and the CFD Plan Area overlap in certain areas (the
"Overlapping Areas"); and
WHEREAS, implementation of the CFD Plan of Development is compatible with and in
furtherance of URA Plans with respect to the Overlapping Areas; and
35367706.2
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
WHEREAS, a division of taxes pursuant to C.R.S. § 31-25-107(9)(a) on the Overlapping
Areas without an agreement concerning the distribution of tax increment revenue may hinder the
effectuation of the CFD Plan of Development and the projects contemplated therein; and
WHEREAS, FURA and the CFD are authorized to enter into intergovernmental
agreements pursuant to the URA Act and the DDA Act, including, without limitation, C.R. S. § 31-
25-112 and § 31-25-808(1)(f).
WHEREAS, FURA and the CFD therefore desire to enter into the intergovernmental
agreement attached hereto and made a part hereof as Attachment 1 (the "IGA") to memorialize the
basic terms of agreement related to the allocation of incremental tax revenues created within the
Overlapping Areas.
NOW THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS OF THE FIRESTONE
URBAN RENEWAL AUTHORITY AS FOLLOWS:
Section 1. That FURA hereby makes and adopts the determinations and findings
contained in the Recitals set forth above.
Section 2. Pursuant to the URA Act, it is the opinion of FURA that the IGA, in
substantially the form attached hereto, is in the best interest of FURA, furthers the implementation
of the URA Plans and the CFD Plan of Development, and is necessary for development or
redevelopment of the URA Plan Areas and the prevention and elimination of blight within the
URA Plan Areas.
Section 3. FURA has duly considered and hereby approves the IGA, in substantially
the form attached hereto, and directs and authorizes the Chair to execute the IGA on behalf of
FURA, subject to technical additions, deletions and variations as the Special Counsel to FURA
may determine to be necessary and appropriate to protect the interests of FURA or to effectuate
the purposes of this Resolution.
Section 4. That the Chair is authorized to execute any related documents or certificates
necessary in connection with the transactions contemplated by the IGA.
Section 5. This Resolution shall be effective immediately upon its adoption.
[signature page follows]
35367706.2
Docusign Envelope ID: 1864F781-2088-4CF8-9F28-E8648C49BD27
INTRODUCED, READ, and ADOPTED this I day of____________ 2026.
FIRESTONE URBAN RENEWAL AUTHORITY,
a body corporate and politic of the State of
Colorado
SEAL
ATTEST:
Attachment I: IGA
35367706.2
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
INTERGOVERNMENTAL AGREEMENT BY AND BETWEEN THE FIRESTONE
URBAN RENEWAL AUTHORITY AND THE CENTRAL FIRESTONE DISTRICT
(Central Firestone District Plan of Development)
This.INTERGOVERNMENTAL AGREEMENT ("IGA"), is entered into effective as
of the ._ day of 2026 (the "Effective Date"), by and between the
FIRESTONE URBAN RENEWA AUTHORITY, a body corporate and politic of the State of
Colorado (the "FURA"), and the CENTRAL FIRESTONE DISTRICT, a body corporate and
politic of the State of Colorado (the "CFD"), (individually referred to herein as a "Party" and,
collectively, as the "Parties").
RECITALS
A. The FURA is a public body corporate and politic duly organized and existing
under the laws of the State of Colorado to transact business and exercise its powers as an urban
renewal authority under and pursuant to Part 1 of Article 25 of Title 31, C.R.S. (the "URA Act").
B. The CFD is a public body corporate and politic duly organized and existing under
the laws of the State of Colorado to transact business and exercise its powers as a downtown
development authority pursuant to Part 8 of Article 25 of Title 31, C.R.S., as amended (the "DDA
Act").
C. The Board of Trustees (the "Town Board") for the Town of Firestone (the
"Town") by Resolution 10-04 on January 28, 2010, as amended by Resolution 15-49 on October
28, 2015, approved and adopted the Southern Urban Renewal Area Plan (the "Southern URA
Plan"); by Resolution 13-32 on June 12, 2013, as amended by Resolution 15-49 on October 28,
2015, approved and adopted the Northern Firestone Urban Renewal Area Plan (the "Northern
URA Plan"); and by Resolution 15-62 on December 16, 2015, approved and adopted the Central
Firestone Urban Renewal Area Plan (the "Central URA Plan"): Each of the Southern URA Plan,
Northern URA Plan, and Central URA Plan may be referred to herein individually as a "URA
Plan" and, collectively, as the "URA Plans".
D. Each URA Plan details the inclusion of the real property described in such URA
Plan for the purposes authorized in the URA Act, including utilizing tax increment financing, as
contemplated by C.R.S. § 31-25-107(9)(a).
E. The Town Board by Resolution 25-89 on August 13, 2025, approved and adopted
The Central Firestone District Plan of Development (the "CFD Plan of Development")
establishing the central business district (as defined by C.R.S. § 31-25-802(3)) of the Town
pursuant to C.R.S. § 31-25-807(2)(d) (the "CFD Plan Area") and authorizing the use of tax
increment financing within its boundaries pursuant to C.R.S. § 31-25-807(3). The CFD Plan Area
is depicted on Exhibit A attached hereto and incorporated herein.
F. The URA Plan Areas and the CFD Plan Area overlap as depicted on Exhibit B
attached hereto and incorporated herein.
35032163.9 1
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
G. The FURA has determined that implementation of the CFD Plan of Development
is compatible with and in furtherance of URA Plans with respect to the Overlapping Areas (as
defined below) depicted on Exhibit B.
H. The FURA and the CFD recognize that a division of taxes pursuant to C.R.S. § 31-
25-107(9)(a) on the Overlapping Areas without an agreement concerning the distribution of TIF
Revenue may hinder the effectuation of CFD Plan of Development and the projects ("CFD
Projects") contemplated by the CFD Plan of Development.
I. The FURA and the CFD therefore desire to enter into this IGA to memorialize the
basic terms of agreement related to the allocation of incremental tax revenues created within the
Overlapping Areas. FURA and the CFD agree herein that certain portions of TIF Revenue either
received by or that otherwise would be received by FURA within the Overlapping Areas shall be
allocated to the CFD, and in order to protect the public finance structure created to implement the
CFD Plan of Development from future risk, provide certainty to lenders and bondholders, and
ensure continued long-term cooperation between FURA and the CFD.
J. The FURA and the CFD are authorized to enter into this IGA pursuant to the URA
Act and the DDA Act, including, without limitation, C.R.S. § 31-25-112 and § 31-25-808(1)(f).
NOW THEREFORE, in consideration of the foregoing recitals and the covenants, promises
and agreements of each of the Parties hereto, it is agreed by and among the Parties hereto as
follows:
AGREEMENT
1. Incorporation of Recitals. The foregoing recitals are incorporated into and made a
part of this IGA.
2. Capitalized Terms and Definitions. Capitalized terms in this IGA have the meaning
set forth in this Section 2, or otherwise defined herein, unless a different meaning appears from
the context:
"Available Central URA Plan Revenues" means, collectively, the Property Tax
Increment Revenues, if any, received by the FURA from the Central URA Overlapping
Area after deducting Taxing Body Increment, and the Sales Tax Increment Revenues, if
any, received by the FURA from the Central URA Overlapping Area after deducting
Taxing Body Increment.
"Available Northern URA Plan Revenues" means, collectively, the Property Tax
Increment Revenues, if any, received by the FURA from the Northern URA Overlapping
Area after deducting Taxing Body Increment, and the Sales Tax Increment Revenues, if
any, received by the FURA from the Northern URA Overlapping Area after deducting
Taxing Body Increment.
"Available Southern URA Plan Revenues" means, collectively, the Property Tax
Increment Revenues, if any, received by the FURA from the Southern URA Overlapping
Area after deducting Taxing Body Increment, and the Sales Tax Increment Revenues, if
35032163.9
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E6648C49BD27
any, received by the FURA from the Southern URA Overlapping Area after deducting
Taxing Body Increment.
"Available URA Tax Increment Revenues" means, collectively, the Available Northern
URA Plan Revenues, the Available Southern URA Plan Revenues, and the Available
Central URA Plan Revenues.
"Central URA Overlapping Area" means that portion of the Central URA Plan Area that
overlaps with the CFD Plan Area, as depicted on Exhibit B.
"Central URA Plan" has the meaning set forth in Recital C.
"Central URA Plan Area" means the area described in the Central URA Plan.
"CFD" means the Party described in the Preamble hereto.
"CFD Plan Area" means the area described in the CFD Plan of Development.
"CFD Plan of Development" has the meaning set forth in Recital E.
"CFD Project Costs" means all reasonable and necessary costs that the CFD has
determined have a public benefit in furtherance of the DDA Act and the CFD Plan of
Development.
"CFD Projects" means the projects contemplated by the CFD Plan of Development.
"County" means, individually or collectively as applicable, the Weld County Assessor, the
County Treasurer, and the Tax Administrator.
"County Assessor" means the Weld County Assessor's Office.
"County Treasurer" means the Weld County Treasurer's Office.
"DDA Act" has the meaning set forth in Recital B above.
"Effective Date" is the effective date of this IGA, as set forth in the Preamble hereto.
"FURA" means the Party described in the Preamble hereto.
"IGA" means this Intergovernmental Agreement entered into by the Parties.
"Northern URA Overlapping Area" means that portion of the Northern URA Plan Area
that overlaps with the CFD Plan Area, as depicted on Exhibit B.
"Northern URA Plan" has the meaning set forth in Recital C.
"Northern URA Plan Area" means the area described in the Northern URA Plan.
35032163.9
Docusign Envelope ID: 1864F781-2088-4CF8-9F28-E8648C49BD27
"Obligation" means the FURA's obligation to pay the Pledged Revenues to the CFD
pursuant to this IGA.
"Overlapping Areas" means, collectively, the Northern URA Overlapping Area, the
Southern URA Overlapping Area, and the Central URA Overlapping Area.
"Party" or "Parties" means, individually and collectively, the parties to this IGA as
described in the Preamble hereto.
"Plan Area Base Value" means, the valuation for assessment certified by the County
Assessor for the applicable URA Plan Area in the year immediately preceding the effective
date of the applicable URA Plan, as adjusted proportionately upon each general
reassessment, consistent with C.R.S. §§ 31-25-107(9)(e).
"Pledged Revenues" means 100% of the Available URA Tax Increment Revenues
received by the FURA each year, which revenues are irrevocably pledged to the payment
of CFD Project Costs under this IGA.
"Property Tax Increment Revenues" means all property tax revenues, if any, actually
received by the FURA each year from the applicable URA Plan Area in excess of the
property tax revenues attributed to and generated from the levy of property tax by taxing
entities against the applicable Plan Area Base Value.
"Sales Tax" means the Town's 3.6% general fund municipal sales and use tax authorized
by the Town Board, as allocated to the FURA by the Town pursuant to one or more
agreements between the Town and the FURA, as such agreements may be amended from
time to time.
"Sales Tax Base Amount" means, with respect to each URA Plan Area, the total collection
of general fund municipal Sales Tax levied within the applicable URA Plan Area in the
twelve-month period ending on the last day of the month prior to the effective date of the
applicable URA Plan, in accordance with Section 31-25-107(9)(a)(I), C.R.S.
"Sales Tax Increment Revenues" means the Sales Tax Revenues collected by the Town
in excess of the applicable Sales Tax Base Amount.
"Sales Tax Revenues" means the funds generated by imposition of the Sales Tax.
"Southern URA Overlapping Area" means that portion of the Southern URA Plan Area
that overlaps with the CFD Plan Area, as depicted in Exhibit B.
"Southern URA Plan" has the meaning set forth in Recital C.
"Southern URA Plan Area" means the area described in the Southern URA Plan.
"Special Account" has the meaning set forth in Section 8.
"Special Fund" has the meaning set forth in Section 8.
35032163.9
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
"Tax Administrator" means the Property Tax Administrator for the State of Colorado.
"Term" has the meaning set forth in Section 5.
"TIF Revenues" means, collectively, the Property Tax Increment Revenues and the Sales
Tax Increment Revenues.
"Tax Increment Agreements" means, collectively, the agreement or agreements between
the FURA and the taxing bodies that levy property taxes and/or Sales Tax in the applicable
URA Plan Area relating to the allocation of the Property Tax Increment Revenues and
Sales Tax Increment Revenues generated in the applicable URA Plan Area in accordance
with the URA Act, as such agreements are amended from time to time.
"Taxing Body Increment" means the TIF Revenues pledged by the FURA to taxing
bodies that levy property taxes and/or Sales Tax in the applicable URA Plan Area pursuant
to Tax Increment Agreements.
"Town" means the Town of Firestone.
"Town Board" means the Board of Trustees for the Town.
"URA Act" has the meaning set forth in Recital A above.
"URA Plan" or "URA Plans" means, individually and collectively, the Southern URA
Plan, Northern URA Plan, and Central URA Plan.
"URA Plan Area" or "URA Plan Areas" means, individually and collectively, the
Southern URA Plan Area, Northern URA Plan Area, and Central URA Plan Area.
3. Cooperation. The Parties hereby find that cooperating and establishing a joint
vision and guiding principles for the redevelopment of the Overlapping Areas, through the
implementation of the URA Plans and the CFD Plan of Development, is in the best interests of
both Parties.
4. Financial Agreement on TIF Revenue. The Parties agree and acknowledge that the
IGA shall only apply to the Available URA Plan Tax Increment Revenues derived from the
Overlapping Areas and received by the FURA each year.
5. Term. Unless earlier terminated as expressly provided for in this IGA, the term of
this IGA (the "Term") shall commence on the Effective Date and terminate, with respect to each of
the Overlapping Areas, upon the expiration of the remainder of the period which the FURA is
authorized by the URA Act to receive tax increment for such Overlapping Area. Nothing herein will
limit the ability of the Parties to enter into future amendments to this IGA that have the effect of
extending the Term. After expiration of the Term with respect to any Overlapping Area, this IGA
will be deemed terminated and of no further force and effect with respect to such Overlapping
Area; provided, however, such termination will not affect any obligation of any Party which arises
under this IGA during such Term but is not fully performed as of the end of such Term.
35032163.9
Docusign Envelope ID: 1864F781-2088-4CF8-9F28-E8648C49BD27
6. Obligation; Pledged Revenues.
A. Obligation. Subject to the provisions of this IGA, the FURA shall disburse
to the CFD all Pledged Revenues for each Overlapping Area within forty-five (45) days after
receipt of the Pledged Revenues from the County Treasurer. The FURA's Obligation shall be paid
only from the applicable Special Accounts described in Section 8 of this IGA and any interest
earned on the amounts in the applicable Special Accounts. The Obligation shall not be paid from
any other revenues of FURA. If TIF Revenues are not received by FURA in any fiscal year, then
no payment of Pledged Revenue shall be made for that year; provided, however, FURA shall take
the steps specified in Section 9 to assure to the extent possible that Pledged Revenues shall be
deposited in the Special Account each year this Agreement is in effect and the Obligation to pay
Pledged Revenue to or on behalf of the CFD shall carry over to the next fiscal year and each year
thereafter for the Term.
B. Pledged Revenues. Pledged Revenues shall be calculated, collected,
deposited, and maintained in the applicable Special Account in accordance with this IGA and paid
to the CFD during each year of the applicable Term. The FURA agrees to invest any funds in the
applicable Special Account in accordance with legal and contractual requirements for such public
funds and any interest earned on such funds shall be added to and included in Pledged Revenues.
No other tax increment financing revenues received by the FURA or any other revenues received
by the FURA shall be considered Pledged Revenues. The FURA is only obligated to pay the
Pledged Revenues for any Overlapping Area in years that it receives Available URA Tax
Increment Revenues for the applicable Overlapping Area. FURA shall not enter into any
agreement or transaction that impairs the rights of the CFD under this IGA and shall take all
reasonable steps to defend and protect the CFD's right to receive the Pledged Revenues.
The FURA hereby irrevocably pledges the Pledged Revenues to payment of the FURA's
Obligation. The Pledged Revenues, when and as received by the FURA shall be subject to the lien
of such pledge without any physical delivery, filing, or further act. The FURA shall transfer the
TIF Revenues in the applicable Special Accounts as specified in Section 8. The FURA shall keep,
maintain, and apply the Pledged Revenues as required exclusively to payment of the FURA's
Obligation for the applicable Term. The FURA's Obligation established by this IGA is and shall
be an obligation of the FURA pursuant to Section 31-25-807, C.R.S. The FURA has elected to
apply the provisions of Section 11-57-208, C.R.S., to this Agreement. Creation, perfection,
enforcement and priority of the pledge of the Pledged Revenues as provided herein, shall be
governed by Section 11-57-208, C.R.S. and this IGA. The lien of such pledge on the Pledged
Revenues and the obligation to perform the contractual provisions made herein shall have priority
over any of all other obligations and liabilities of the FURA with respect to the Pledged Revenues
for the Term of this Agreement.
7. Calculation of the Available Tax Increment for Pledged Revenues. The Pledged
Revenues shall be calculated each year in accordance with the definitions of Available URA Tax
Increment Revenues and Pledged Revenues set forth in Section 2 above.
8. Account of the Special Fund. Pursuant to the URA Act, for each URA Plan the
FURA is required to keep the TIF Revenues it receives in a special fund dedicated for that purpose
(each, a "Special Fund"). Subject to the provisions of this IGA, with respect to each Special Fund,
the FURA agrees to establish, make deposits into, make disbursements from, and provide reports
35032163.9 6
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
with respect to a line item within such Special Fund established for this Agreement (each, a
"Special Account"). Each Special Account shall include only the Pledged Revenues for the
applicable Overlapping Area. No other tax increment financing revenues received by the FURA
or any other revenues received by the FURA shall be included in such Special Account. The FURA
agrees to annually budget, appropriate, and deposit into each Special Account the Pledged
Revenues.
9. Methodology and Risk Allocation of the Pledged Revenue. The Parties understand
and acknowledge that TIF Revenues are remitted to the FURA according to policies and procedures
adopted by the Tax Administrator, the County Assessor, and the County Treasurer and based on the
annual valuation of all properties located within the URA Plan Areas. Accordingly, the timing and
payment by the County to the FURA of all, or some portion, of the TIF Revenues is a matter that is
out of the control of the FURA. Nothing herein is intended to be, or shall be construed as, a promise
or guarantee by the FURA that the Pledged Revenues will be collected and remitted to the FURA in
projected or anticipated amounts. The FURA shall take reasonable steps to (a) provide the County
Assessor with information of activities that increase the assessed value of all property within the
URA Plan Areas, (b) meet with the County Assessor at least annually to assist the County Assessor
in calculating the total assessed value of the URA Plan Areas, and (c) review the calculation of
assessed values and the allocation of value to the Plan Area Base Value applicable to each of the
Overlapping Areas each year to assure to the extent reasonably possible that such calculations and
allocations are true and accurate.
A. Methodology. The Parties acknowledge and agree that the TIF Revenues
attributable to each Overlapping Area are calculated and remitted to the FURA in the aggregate
for the entire applicable URA Plan Area. Therefore, in the event that the total annual TIF Revenues
received by the FURA are insufficient to meet all of its tax increment finance obligations and
agreements existing as of the Effective Date, the FURA will use a reasonable methodology for
allocating its funds and revenues actually received to the CFD pursuant to this IGA. In such event,
the FURA will provide to the CFD an explanation of its methodology together with supporting
documentation.
B. Allocation of Risk. The CFD acknowledges that the generation of Pledged
Revenue is dependent upon the Available URA Tax Increment Revenues generated and agrees
that the FURA is in no way responsible for the amount of Pledged Revenue actually generated.
The CFD further acknowledges that the Tax Administrator and the County Assessor may modify
the process for calculating TIF Revenues, which may reduce the amount of Pledged Revenues.
The CFD therefore agrees to assume the entire risk that insufficient Pledged Revenues will be
generated to compensate for the cost of the CFD Projects.
10. Use of Pledged Revenues. The CFD agrees to use the Pledged Revenues received
from the FURA pursuant to this IGA to support the goals of the CFD Plan of Development and
the CFD Projects contemplated therein, including to pay the principal of, the interest on, and any
premiums due in connection with the bonds of, loans or advances to, or indebtedness incurred by
the Town for financing or refinancing a CFD Project within the boundaries of the CFD Plan Area.
11. Books and Accounts. The FURA will keep, or cause to be kept, proper and current
books and accounts in which complete and accurate entries shall be made of the amount of Pledged
35032163.9 7
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C499D27
Revenue received by the FURA and the amounts deposited into and paid out from the Special
Account.
12. InsDection. All books, records, and reports (except those required by applicable law to
be kept confidential) in the possession of the FURA relating to the Pledged Revenue, and allocation of
such revenue to the Special Account, including the books and records described in Section 11, shall at
all reasonable times be open to inspection by accountants or other agents of the CFD as provided by
law.
13. Delays. Any delays in or failure of performance by any Party of its obligations
under this IGA shall be excused if such delays or failure are a result of acts of God, acts of public
enemy, acts of the Federal or state government, acts of third parties, litigation concerning the
validity of this IGA or relating to transactions or the IGA contemplated hereby, fire, floods, strikes,
labor disputes, accidents, regulations or order of civil or military authorities, shortages of labor or
materials, or other causes, similar or dissimilar, which are beyond the control of such Party.
14. Subsequent Legislation. The Parties agree that in the event legislation is adopted
after the Effective Date of this IGA that invalidates or materially effects any provisions hereof, the
Parties will in good faith negotiate for an amendment to this IGA that most fully implements the
original intent, purpose and provisions of this IGA.
15. No Third -Party Enforcement. It is expressly understood and agreed that the
enforcement of the terms and conditions of this IGA, and all rights of action relating to such
enforcement, shall be strictly reserved to the undersigned Parties and nothing in this IGA shall
give or allow any claim or right of action whatsoever by any other person not included in this IGA.
It is the express intention of the undersigned Parties that any entity other than the undersigned
Parties shall be an incidental beneficiary only. The Parties intend for the IGA to also include a
similar provision regarding third -parties.
16. No Waiver of Immunities. Nothing contained herein shall be construed as a waiver,
in whole or in part, by any Party hereto of the rights, protections, and privileges afforded under the
Colorado Governmental Immunity Act, C.R.S. § 24-10-101, et seq., or under any other law, nor
shall any portion of this IGA be deemed to have created a duty of care which did not previously
exist with respect to any person not a Party to this IGA.
17. Severability. If any provision of this IGA is found to be invalid, illegal or
unenforceable, the validity and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. Further, in the event of any such holding of invalidity, illegality or
unenforceability, the Parties will in good faith negotiate for an amendment to this IGA or the
anticipated IGA that achieves to the greatest degree possible the intent of the affected provision of
this IGA or the anticipated IGA.
18. No Assignment. No Party may assign any of its rights or obligations under this
IGA without the express prior written consent of the other Party. Any attempted assignment in
violation of this provision shall be null and void and of no force and effect.
35032163.9 R
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
19. Paragraph Captions. The captions of the paragraphs are set forth only for the
convenience and reference of the Parties and are not intended in any way to define, limit, or
describe the scope or intent of this IGA.
20. Execution in Counterparts. This IGA may be executed in several counterparts, each
of which shall be deemed an original and all of which shall constitute but one and the same
instrument.
21. Governing Law. This IGA and the provisions hereof shall be governed by and
construed in accordance with the laws of the State of Colorado.
22. No Presumption. The Parties to this IGA and their attorneys have had a full
opportunity to review and participate in the drafting of this IGA. Accordingly, this IGA shall be
construed without regard to any presumption or other rule of construction against the Party causing
the IGA to be drafted.
23. Notices. Any notice required by this IGA shall be in writing. All notices, demands,
requests and other communications required or permitted hereunder shall be in writing, and shall
be (a) personally delivered with a written receipt of delivery; (b) sent by a nationally -recognized
overnight delivery service requiring a written acknowledgement of receipt or providing a
certification of delivery or attempted delivery; (c) sent by certified or registered mail, return receipt
requested; or (d) sent by confirmed facsimile transmission or electronic delivery with an original
copy thereof transmitted to the recipient by one of the means described in subsections (a) through
(c) no later than five (5) business days thereafter. All notices shall be deemed effective when
actually delivered as documented in a delivery receipt; provided, however, that if the notice was
sent by overnight courier or mail as aforesaid and is affirmatively refused or cannot be delivered
during customary business hours by reason of the absence of a signatory to acknowledge receipt,
or by reason of a change of address with respect to which the address or did not have either
knowledge or written notice delivered in accordance with this paragraph, then the first attempted
delivery shall be deemed to constitute delivery. Each Party shall be entitled to change its address
for notices by delivering to the other Party notice thereof in the manner herein provided for the
delivery of notices. All notices shall be sent to the addressee at its address set forth following its
name below:
If to the FURA: Firestone Urban Renewal Authority
Attention: Town Manager
9950 Park Avenue
Firestone, CO 80504
Telephone: 303-833-3291
Email: townclerk(afirestoneco.ggov
If to the CFD: Central Firestone District
Attn: Town Manager
9950 Park Avenue
Firestone, CO 80504
Telephone: 303-833-3291
Email: towncicrk((�firestoncco.eov
35032163.9
Docusign Envelope ID: 1864F781-2088-4CF8-9F28-E8648C49BD27
24. Parties Not Partners. Notwithstanding any language in this IGA, the anticipated
IGA or any other agreement, representation, or warranty to the contrary, the Parties shall not be
deemed to be partners or joint venturers, and no Party shall be responsible for any debt or liability
of any other Party.
[Signature Pages Follow]
35032163.9 10
IN WITNESS WHEREOF, the FURA and the CFD have caused their duly authorized
officials to execute this IGA effective as of the Effective Date.
CFD:
THE CENTRAL FIRESTONE DISTRICT, a body
corporate and politic of the State of Colorado
By:%#
Name: lnpeM-* fr-zr - %
Title: jd
ATTEST:
/,r�
By: /(• O—I��-l/ f �o
35032163.9 11
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C49BD27
FURA:
FIRESTONE URBAN RENEWAL AUTHORITY,
a body corporate and politic of the State of
Colorado
�sgme M:
By:
Name: SEt{1 belie
Title:
35032163.9 12
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8646C49BO27
Exhibit A
Depiction of CFD Area
`` Firestone Regional Sports Corrpiex
FiresDone 8lvd_,�
•;�� FlrestoneTrap
bpi
F S
U r." .Q
Sable Ave.
- Former Town Hall
Godding Hollow Pkwy. Giant Ave.
Legend Overlook Property
Central Firestone District Boundary O I
" N
35032163.9 13
Docusign Envelope ID: 1864F781-2088-4CF8-9F2B-E8648C496D27
'IT,
..
-1Z
It
N
O
to