HomeMy WebLinkAbout987 Firelight Repeal 721 Development Agmt 12-09-2020ORDINANCE N0.987
AN ORDINANCE OF THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE,
COLORADO, REPEALING IN ITS ENTIRETY ORDINANCE NO. 721 REGARDING
THE FIRELIGHT PARK DEVELOPMENT AGREEMENT PERTAINING TO VESTED
PROPERTY RIGHTS AGREEMENT
WHEREAS, on March 27, 2008, the Board of Trustees ("Board") of the Town of Firestone,
("Town"), by Ordinance No. 676, approved a zoning request submitted by Fairview Estates LLC
("Developer") regarding certain real property annexed into the Town and known as the Firelight
Park Annexation and an Outline Development Plan ("ODP") for such property; and
WHEREAS, on July 23, 2009, the Board approved, by Ordinance No. 721, a Development
Agreement Pertaining to Vested Property Rights ("Vesting Agreement") between the Town and
Developer of the Firelight Park Annexation ("Project"); and
WHEREAS, the Vesting Agreement granted the Project a vested property right in the land uses
set forth in the Firestone Development Regulations for the PUD-RC and PUD R-C zone district,
designating such land uses as a "site development plan" as that term is used in, and for purposes
A, C.R.S. § 24-68-101 et seq., the Vested Rights Statute, for a period of ten (10) years from the
"Effective Date" of the Vesting Agreement;
WHEREAS, in accordance with the Vesting Agreement the "Effective Date" is the date of the
recordation of the Vesting Agreement; and
WHEREAS, the Vesting Agreement also set forth a condition precedent to extend the initial ten
(10) year vesting period for an additional ten (10) years, which if not met would result in the
forfeiture of vested property rights for the Project and, upon such forfeiture, the Vesting
Agreement in turn would terminate; and
WHEREAS, the Vesting Agreement set forth the condition precedent to extending the vesting
period specifically as follows: if the Town has granted "conditional acceptance" of the Public
Improvements required in connection with the Town's approval of the first final development plan
for any portion of the Property and necessary to support development of such portion of the
Property and issuance of a certificate of occupancy for the aggregate with any previously issued
certificates of occupancy, the 15'000th building square foot of retail sales generating space within
the Property; and
WHEREAS, the Weld County Clerk and Recorders Office records show the date of recording of
the of the Vesting Agreement, as November 1, 2010; and
WHEREAS, because the Town has not granted conditional acceptance of any public
improvements related to the Project, nor has it issued any certificate of occupancy for any retail
sales generating space within the Property, as of November 1, 2020, the condition precedent that
must be satisfied to extend the initial 10 year vesting period cannot be met and, thus, the vesting
period established under the Vesting Agreement has expired; and
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WHEREAS, because the vesting period established under the Vesting Agreement has expired, the
Vesting Agreement by its very terms has expired; and
WHEREAS, the Board therefore desires to repeal in its entirety Ordinance No. 721, which
approved the Vesting Agreement,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FIRESTONE, COLORADO:
Section 1. Ordinance No. 721 is hereby repealed in its entirety, thereby terminating the
Vesting Agreement between the Town of Firestone and Fairview Estates LLC.
Section 2. If any article, section, paragraph, sentence, clause, or phrase of this
ordinance is held to be unconstitutional or invalid for any reason, such decision shall not affect the
validity or constitutionality of the remaining portions of this ordinance. The Board of Trustees
hereby declare it would have passed this ordinance and each part or parts hereof irrespective of the
fact that any one part or parts be declared unconstitutional or invalid.
Section 3. Violations of this ordinance shall be punishable in accordance with Section
1.16.010 of the Firestone Municipal Code of the Town of Firestone.
Section 4. All other ordinances or portions thereof inconsistent or conflicting with this
ordinance or any portion hereof are hereby repealed to the extent of such inconsistency or conflict.
INTRODUCED READ, ADOPTED, APPROVED, AND ORDERED PUBLISHED
BY TITLE thisth day of , 2019.
ATTEST:
SOrpNF-
�o`N
APPROVED AS TO FC1�M: �
.ttorney
:TONE, COLORADO
Mayor
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