HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 01/20/2004 - RESOLUTION 2004-010 AUTHORIZING THE LEASE OF CITY- ITEM NUMBER: 27
AGENDA ITEM SUMMARY DATE: January20, 2004
FORT COLLINS CITY COUNCIL STAFF: Helen Matson
SUBJECT
Resolution 2004-010 Authorizing the Lease of City-Owned Property at 945 East Prospect Road for
Up to Two Years.
RECOMMENDATION
Staff recommends adoption of the Resolution.
FINANCIAL IMPACT
Rent collected from this lease will result in at least$7,800 in unanticipated revenue to Miscellaneous
Revenue - General Fund. Tenant will pay utility expenses.
EXECUTIVE SUMMARY
The City purchased this house and lot as part of the Prospect/L.emay Choices `95 Intersection
Improvement Project. This house will be affected by the right-turn lane that is to be added turning
south on Lemay Avenue from Prospect Road. Construction of this right-tum lane has been delayed
due to negotiations with the Texaco station on the corner. The construction of this right-turn lane
can be accomplished at a more affordable price if it can be constructed at the same time as the corner
redevelops. Rite-Aid and Walgreen's have both submitted plans for this area; however,
redevelopment costs have been too high to make their developments viable. As a result,it is staff's
recommendation to continue renting this house, having the Tenant responsible for utilities and site
clean-up, until a redevelopment plan is approved for this area or until the vehicle count mandates
the construction of the turn lane due to an unacceptable service level.
RESOLUTION 2004-010
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
945 EAST PROSPECT ROAD, FORT COLLINS, COLORADO,
FOR UP TO TWO YEARS
WHEREAS, the City of Fort Collins is the owner of residential property at 945 East
Prospect Road, Fort Collins, Larimer County, Colorado; and
WHEREAS, the City purchased this property for a capital project to be constructed at a
later date; and
WHEREAS, the City desires to lease this residence for a term of one year, with the City
having the option to renew for an additional year at a monthly rate of at least$675.00;
WHEREAS, the lease of the Property will be beneficial in that it will discourage
vandalism and reduce the City's costs to maintain the Property; and
WHEREAS, under Section 23-114(a) of the Code of the City of Fort Collins, the Council
is authorized to lease for a term of two years or less any and all interests in real property owned
in the name of the City, provided that Council first finds that the lease is in the best interests of
the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the Council hereby finds that leasing the residence at 945 East Prospect
Road under the terms listed above is in the best interests of the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute a lease agreement for
the Property, consistent with the terms of this Resolution, together with such additional terms
and conditions as the City Manager, in consultation with the City Attorney, determines to be
necessary and appropriate to protect the interest of the City.
Passed and adopted at a regular meeting of the City Council held this 20th day of
January, 2004.
Mayor
ATTEST:
City Clerk
945 EAST PROSPECT
CITY-OWNED RENTAL PROPERTY
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