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Board OKs amendment expanding Cherry Creek maintenance obligations
Summary
The board approved a first amendment to the Cherry Creek LLC maintenance agreement to extend developer maintenance obligations from phase 1 section 1 to include phase 1 section 2 of the development east of the original area; staff characterized the item as a routine extension to the next development stage.
City staff presented Amendment No. 1 to the existing maintenance agreement with Cherry Creek LLC, explaining the amendment expands maintenance responsibilities previously approved for phase 1, section 1 to also cover phase 1, section 2 of the overall development to the east.
According to staff, the amendment supplements developer obligations established in the city's economic development agreement. Staff said the change "is exactly the same" as the prior agreement but applies to the next stage of the development. The board approved the amendment by motion and unanimous voice vote; staff offered to answer questions but none were raised publicly during the meeting.
No new financial terms or changes to bonding were recorded in the public discussion; staff described the action as sustaining maintenance obligations for the newly included area.
