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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 02/19/2008 - SECOND READING OF ORDINANCE NO. 010, 2008, APPROPR ITEM NUMBER: 34 AGENDA ITEM SUMMARY DATE: February 19, 2008 FORT COLLINS CITY COUNCIL STAFF: Ken Mannon Helen Matson SUBJECT Second Reading of Ordinance No. 010, 2008, Appropriating Prior Year Reserves in the General Fund to Purchase a Parcel of Land on Cherry Street Adjacent to Martinez Park RECOMMENDATION Staff recommends adoption of this Ordinance on Second Reading. EXECUTIVE SUMMARY The new Museum/Discovery Science Center("the Project")is planned to be built on a portion of the property known as Martinez Park at its eastern boundary. The main access for the Project will be from Mason Street. The facility to be constructed is planned to be a two-story building with a parking lot. This Ordinance, unanimously adopted on First Reading on February 5, 2008, appropriates the funds necessary to acquire a parcel of land located on Cherry Street adjacent to the site of the Project. The property is planned to be used as a visual gateway to the Project. ATTACHMENTS 1. Copy of First Reading Agenda Item Summary- February 5, 2008. (w/o original attachments) ATTACHMENT 1 ITEM NUMBER: 15 AGENDA ITEM SUMMARY DATE: February5, 2008 FORT COLLINS CITY COUNCIL FF: Ken Mannon Helen Matson SUBJECT Y 3f First Reading of Ordinance No. 010,2008,Appropriating Prior Year Reserves in the General Fund to Purchase a Parcel of Land on Cherry Street Adjacent to Martinez Park RECOMMENDATION Staff recommends adoption of the Ordinance on First Reading. FINANCIAL IMPACT This Ordinance authorizes theCsillb a n of 6 n p ear reserves in the General Fund. These reserves are a portion oo ds m e sale o hase I of the Penny Flats project located on Block 33. These fue u e for a purchase of the site, environmental testing, closing costs, and staff time for valuation and negotiation. EXECUTIVE SUMMARY The new Museum/Discovery Science Center("the Project")is planned to be built on a portion of the property known as Martinez Park at its eastern boundary. The main access for the Project will be from Mason Street. The facility to be constructed is planned to be a two-story building with a parking lot. This Ordinance would appropriate the funds necessary to acquire a parcel of land located on Cherry Street adjacent to the site of the Project. The property is planned to be used as a visual gateway to the Project. In order to complete this transaction, staff is requesting Council approve the appropriation of funds necess to acquire the property and pay associated expenses for the purchase. PY BACKGROUND City and Discovery Science Center staff looked at many potential sites for the Project prior to the final decision to construct the Project on a portion of Martinez Park at the eastern boundary. The topography of the site is sloping from Cherry Street to the Poudre River. Conceptual plans for the Project include a two-story building and visitor parking, including some bus and RV parking. The proposed building's elevation will be lower than Cherry Street. February 5, 2008 -2- Item No. 15 Since this site has been selected, the Project planners have been very interested in acquiring an adjacent parcel of land located on Cherry Street,just east of the Union Pacific Railroad line. If any structure that has at least two stories is built on this property,the view of the Project will be blocked. In addition, this property will al g t R' in this area. Staff plan to use this site for directing citizens t e Pro . The I to is property for art work focusing on science and history. This to wil Ian a d to fit i o the Project and to the adjacent Martinez Park. In response to this request, staff members of Real Estate Services performed an in-house valuation of the entitled property and entered into negotiations for the purchase. This week,staff was able to reach agreement with the owners to purchase this property for$350,000, or $21.41/square foot. The agreed upon price is reflective of the sold properties in the area. The agreement with the property owner is contingent upon Council appropriating the necessary funds for the purchase and is also contingent upon the City completing its inspection of the property. This inspection includes the City obtaining a Phase I Environmental Report. The funds requested to be appropriated will be used for the$350,000 purchase price,environmental testing, closing costs, and staff time to complete valuation and negotiation services. The total appropriation request is $363,000. .d ATTACHMENTS 1. Location map. ORDINANCE NO. 010, 2008 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND TO PURCHASE A PARCEL OF LAND ON CHERRY STREET ADJACENT TO MARTINEZ PARK WHEREAS,staff for the City and the Discovery Science Center have been evaluating several potential sites for the new Museum/Discovery Science Center(the"Project"); and WHEREAS, the combined staff have determined that a location at the eastern boundary of Martinez Park is the best; and WHEREAS, conceptual plans for the Project include a two-story building and a visitor parking lot with the building located north of the proposed parking lot at a lower elevation than Cherry Street; and WHEREAS, Project planners have identified a parcel of land located on Cherry Street,just east of the Union Pacific Railroad line, that would serve as a gateway to the Project and provide space for art work focusing on science and history, which parcel is described on Exhibit "A," attached hereto and incorporated herein by this reference; and WHEREAS,the City's Real Estate Services staff has reached an agreement with the owners to purchase the parcel for $350,000 subject to the Council's appropriation of the necessary funds; and WHEREAS, the requested appropriation will be used to pay the $350,000 purchase price, environmental testing, closing costs, and staff time to complete valuation and negotiation services; and WHEREAS, in February of 2007 the City received approximately $540,000 from the sale of Phase I of the Penny Flats project located on Block 33 and these funds were to be used for land purchases; and WHEREAS,the sales proceeds received in 2007 are now available in the General Fund prior year reserves; and WHEREAS, Article V, Section 9,of the Charter of the City of Fort Collins permits the City Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as may be available from reserves accumulated in prior years,notwithstanding that such reserves were not previously appropriated. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated for expenditure from General Fund prior year reserves the sum of THREE HUNDRED SIXTY THREE THOUSAND DOLLARS ($363,000), to be used for the purchase of a parcel of land on Cherry Street adjacent to Martinez Park, as described on Exhibit"A". Introduced, considered favorably on first reading, and ordered published this 5th day of February, A.D. 2008, and to be presented for final passage on th th day of February,A.D 008. Mayo ATTEST: N4&.-V4A4�- City Clerk Passed and adopted on final reading on the 19th day of February, A.D. 2008. Mayor ATTEST: City Clerk