ORDINANCE NO. 2425

ORDINANCE EXPANDING THE BOUNDARIES OF THE GRAND JUNCTION, COLORADO, DOWNTOWN DEVELOPMENT AUTHORITY AND DECLARING AN EMERGENCY

WHEREAS, the GRAND JUNCTION, COLORADO, DOWNTOWN DEVELOPMENT AUTHORITY (the "DDA") was created by Ordinance No. 1669, and has carried out its statutory duties and has adopted a Plan of Development for the central business district within the City of Grand Junction, Colorado; and

WHEREAS, Ordinance 1669 has been amended by Ordinance No. 2045, Ordinance No. 2116, Ordinance No. 2382, and Ordinance No. 2400, all including additional properties within the boundaries of the DDA; and

WHEREAS, additional individuals have petitioned for the inclusion of their property within the boundaries of the DDA pursuant to the terms of the Plan of Development: George E. Wheeler - March 30, 1989; Mesa Feed and Farm Supply Company - March 27, 1989; Burkey Lumber Co. of Grand Junction - October 20, 1988; Aileen K. Litton and Thomas G. Litton - October 13, 1988; and

WHEREAS, the DDA has requested that such properties be included within the boundary of the DDA; and

WHEREAS, Section 31-25-822, 12B, C.R.S., requests the DDA to include additional properties pursuant to the provisions of such section; and

WHEREAS, the Council further finds that this Ordinance shall be effective immediately as an emergency provision of the City of Grand Junction, Colorado; because the Authority is organized, in part, to prevent blight and deterioration of the central business district; because the Mesa County Assessor indicated that if this Ordinance is not effective by May 1, 1989, no ad valorem levy for the purposes of the Authority will be made upon such property until approximately 19 months from the date of this Amendment; and because such delay would result in decreased revenues to the DDA, thereby impairing the fulfillment of its statutory purposes;

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION:

1. That the Petitions for Inclusion of lands within the boundaries of the DDA are hereby approved by the Council;

2. That Ordinance No. 1669, as amended, is further amended by the inclusion of the lands described in the Exhibit "A";

3. That the boundaries of the DDA shall be re-described to include such property within the boundaries and that such properties shall come into the boundaries of the DDA as part of that Plan of Development area in which Tax Increment Financing is not used;

4. The Plan of Development may be amended at a later time to specifically plan and incorporate these boundaries within a specific Plan of Development area; and

5. The included parcels shall incur all the rights, obligations and privileges conferred upon those properties within the boundaries of the DDA from the date of the second reading of this Ordinance forward.

PASSED and ADOPTED AS AN EMERGENCY ORDINANCE THIS 19TH DAY OF APRIL, 1989.

John W. Bennett

____________________

President of the Council

Attest:

Theresa F. Martinez

____________________

Deputy City Clerk

I HEREBY CERTIFY that the foregoing emergency ordinance, entitled AN ORDINANCE EXPANDING THE BOUNDARIES OF THE GRAND JUNCTION, COLORADO, DOWNTOWN DEVELOPMENT AUTHORITY, AND DECLARING AN EMERGENCY, was introduced, read, passed and adopted as an emergency ordinance, numbered 2425, and ordered published by the unanimous vote of the members of the City Council of the City of Grand Junction at a regular meeting of said Council held on the 19th day of April, 1989.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of said City this 20th day of April, 1989.

Theresa F. Martinez

____________________

Theresa F. Martinez

Deputy City Clerk

Published: April 21, 1989