HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 05/16/2000 - SECOND READING OF ORDINANCE NO. 50, 2000, AUTHORIZ 11
AGENDA ITEM SUMMARY ITEM NUMBER:DATE: May 16, 2000
FORT COLLINS CITY COUNCIL STAFF: Mark Sears
SUBJE9econd Reading of Ordinance No. 50, 2000, Authorizing the Purchase of 6 Acres at 3301 East
Prospect Road for Natural Area Purposes and Authorizing the Lease of the Property to the Seller,
MBI Corporation, for a Period of up to Four Years.
RECOMMENDATION:
Staff recommends adoption the Ordinance on Second Reading.
EXECUTIVE SUMMARY:
Natural Resources and CSU have acquired the "Flatiron" gravel mine property to the south and
west of this parcel for natural area purposes. The land was acquired over time at bargain prices
and by donation. This 6-acre parcel with Flatiron's old office building had previously not been
acquired due to the higher land value. This parcel is now one of the last pieces in the puzzle in
the effort to preserve the entire river bottom on the east side of the Poudre River, from
Timberline Road southeast to I-25. Ordinance No. 50, 2000, was unanimously adopted on First
Reading on May 2, 2000.
AGENDA ITEM SUMMARY ITEM NUMBER: 14
DATE: May 2, 2000
FORT COLLINS CITY COUNCIL
STAFF: Mark Sears
SUBJECT:
First Reading of Ordinance No. 50, 2000, Authorizing the Purchase of 6 Acres at 3301 East
Prospect Road for Natural Area Purposes and Authorizing the Lease of the Property to the Seller,
MBI Corporation, for a Period of up to Four Years.
RECOMMENDATION:
Staff and the Natural Resouil s Adviod e omme adoption the Ordinance on First
Reading.
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FINANCIAL IMPACT:
The City will purchase the MBI property for $340,000 from available funds that are already
appropriated in the Natural Areas Program for the acquisition of natural areas. The City will
then lease the property to MBI1i4epcey
ith an option for an extension
of up to two additional years his ist MBI will be responsible for
all expenses including utilitie epair
EXECUTIVE SUMMARY:
Natural Resources recommends the purchase of 6 acres at 3301 East Prospect Road from MBI i
Corporation. Natural Resources and CSU have acquired the "Flatiron" gravel mine property to
the south and west of this parce r a area os h d was acquired over time at
bargain prices and by don a ' s -acr "e t'= I on's old office building had
previously not been acquired ue to high ,1 lue. s parcel is now one of the last
pieces in the puzzle in the eff to s e n e river b om on the east side of the Poudre
River, from Timberline Road sou east to -
The purchase price of$340,000 represents the fair market value of the property as determined by
Dennis Marion, M.A.I. Although this purchase price is a comparatively high price to pay for 6
acres of natural area, the visual benefit of removing the office building and restoring the site will
be spread across the hundreds of acres of natural area surrounding this property. The property is
in an ideal location for redevelopment. It is near I-25 on Prospect Road, which will be widened
in a few years, and it is surrounded by natural area. The cost to acquire this parcel is expected to
increase over time, so delay would likely result in increased expense. If this site were
redeveloped, the negative visual impact to the surrounding natural area would be there for a very
long time. (See attached site map.)
DATE: May 2,2000 2 ITEM NUMBER: 14
The site will be leased back to MBI Corporation for 2 years at $18,000 per year with an option
for a 2-year extension. This is a triple net lease meaning that MBI will be responsible for all I
expenses including utilities, repairs, and maintenance. Since Prospect Road will be widened in
2003, Engineering will reimburse Natural Resources for the right-of-way and slope easement
needed, a construction easement on the entire site to use it as a staging area, for renting the
building as a construction office, and for restoration of the site. The total amount of this
reimbursement is estimated to be $53,000, and will be funded by the Building Community
Choices Capital Project Fund for Prospect Road. Once the widening of Prospect Road is
completed,the building will be removed and the area restored to native vegetation.
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