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Department of Community Development
Reference: 76 Commerce Center Development Agreement
To: Mayor Kenneth J. Kreutzer and Members of City Council
Through: Holly Prather, AICP, Community Development Director
Marv Falconburg, AICP, Assistant City Manager
Philip Rodriguez, City Manager
Prepared By: Lauren Simmons, AICP, Senior Planner
Date Prepared: February 26, 2018
PURPOSE
The subject Development Agreement for Bromley Park, Filing 102, 1st Amendment, also known as 76 Commerce Center (the "Agreement") is for the subdivision located off the Eastbound I-76 Frontage Road, north of Bridge Street and south of Baseline Road. The applicant for the project is the development company known as Hyde Development, LLC. The applicant is seeking approval of a Development Agreement to develop a 122.377 acre parcel for 1.8 million square feet of industrial development. The property was originally platted under the terms of the Bromley Park Annexation Agreement which allowed for platting to occur administratively. The purpose of a Development Agreement is to formalize the public improvements required for the 76 Commerce Center's current administrative plat and future subdivisions of the property.
BACKGROUND
The property is located in the Bromley Park Metropolitan District No. 6 and the South Beebe Draw Metropolitan District. The property was originally platted into two lots on July 12, 2005 as an administrative plat. Lot 1 is the existing East Cherry Creek Valley Treatment Plant. The property is subject to the Bromley Park PUD, Amendment No. 1 and all applicable provisions of the Annexation Agreement and subsequent Amendments. On August 15, 2017, the City Council approved an Economic Development Corporation incentive agreement for this project, attached. Due to the impacts of the 76 Commerce Center and the off-site improvements needed, a Development Agreement is required to outline those obli...
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