HomeMy WebLinkAbout22-49 Water Activity Enterprise Water Credit Agreement TSG Del Camin Junction 04-27-2022RESOLUTION NU. 202L-49
A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF FIRESTONE
COLORADO ACTING BY AND THROUGH ITS WATER ACTIVITY ENTERPRISE
APPROVING THE WATER CREDIT AGREEMENT BY AND BETWEEN, THE TOWN OF
FIRESTONE AND TSG DEL CAMINO JUNCTION, LLC
WHEREAS, TSG Del Camino Junction, LLC, a Missouri limited liaty company
("TSG") is the contract purchaser of certain real property within the Town of Firestone ("Town")
located on the north side of Firestone Boulevard, east of East I-25 Frontage Road ("Property");
and
WHEREAS, TSG intends to renovate and redevelop the Property by causing the
construction and operation of a commercial shopping center consisting of an approximately
125,000 square feet plus 12 out parcels, which will include retail, restaurant and service operations,
and
WHEREAS, the Town acting by and through its Water Activity Enterprise intends to
provide TSG certain incentives in the form of water in order to facilitate the redevelopment of the
Property with the expectation that the Town's involvement will encourage and accelerate the
timing of the redevelopment, thus providing substantial direct and indirect benefits to the Town,
its citizens, and the surrounding area; and
WHEREAS, to accomplish such goals the Town and TSG desire to enter into a Water
Credit Agreement which specifies the incentives and financial assistance provided by the Town to
TSG.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF FIRESTONE AS FOLLOWS:
The Water Credit Agreement between the Town of Firestone acting by and through its Water
Activity Enterprise and TSG Del Camino Junction LLC is approved in substantially the same form
as the copy attached hereto and made a part of this Resolution and the Mayor is authorized to
execute the Agreement on behalf of the Town and any related documents or certificates necessary
in connection with transactions contemplated by the Agreement, subject to technical additions and
deletions as Water Counsel determine are necessary to protect the interests of the Town or to
effectuate the purposes of the Agreement.
INTRODUCED, READ, and ADOPTED this all) day of April, 2022.
TO«�T OF FIRESTONE, COLORADO
Dre«�Ytu Peterson, Mayor
William P. Hayashi, Town Attorney
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WATER CREDIT AGREEMENT
[see attached" 6 pages]