HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 03/18/2008 - FIRST READING OF ORDINANCE NO. 036, 2008, AUTHORIZ ITEM NUMBER: 17
AGENDA ITEM SUMMARY DATE: March 18, 2008
FORT COLLINS CITY COUNCIL STAFF: Patrick Rowe
Joe Frank
SUBJECT
First Reading of Ordinance No. 036, 2008,Authorizing the Lease of City-Owned Property at 6916
South College Avenue for up to Five Years.
RECOMMENDATION
Staff recommends the adoption of the Ordinance on First Reading.
FINANCIAL IMPACT
Rent collected from this lease will result in at least$550 per year in unanticipated revenue.
EXECUTIVE SUMMARY
The City acquired this 17.11 acre vacant property, known as the Bernhardt Property, as part of the
Affordable Housing Land Bank Program. This lease is for land only and does not allow use of City-
owned water on the property. Leasing the property will generate revenue for the program and
eliminates the cost of ground maintenance for the City. The City has leased this property for hay
production since 2003 and would like to continue leasing the property.
ATTACHMENTS
1. Location Map.
Affordable Housing Property/
Hay Production Lease
Location Map
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ORDINANCE NO. 036, 2008
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
6916 SOUTH COLLEGE AVENUE, FORT COLLINS, COLORADO,
FOR UP TO FIVE YEARS
WHEREAS, the City is the owner of the property located at 6916 South College Avenue,
Fort Collins,Colorado containing 17.11 acres and known as the Land Bank-Bernhardt Property(the
"Property"); and
WHEREAS,at the time the City purchased the Property in 2002,the land was in agriculture
production; and
WHEREAS, the City intends to hold the Property for a period of at least five more years
before pursuing the development of affordable housing opportunities on the Property; and
WHEREAS, the City has leased the Property for agricultural production since 2003; and
WHEREAS,the City desires to continue to lease the Property for an additional period of up
to five years at an annual rate of at least$550; and
WHEREAS,leasing the Property permits the continued use of the ground for the agricultural
production of hay; and
WHEREAS, under Section 23-111(a) of the Code of the City of Fort Collins, the City
Council is authorized to sell, convey or otherwise dispose of any and all interests in real property
owned in the name of the City, provided that the City Council first finds, by ordinance, that such
sale or other disposition is in the best interests of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Council hereby finds that leasing the Property 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 on terms and conditions consistent with this Ordinance,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 interests of the City,including any necessary changes to the
legal description of the Property, as long as such changes do not materially increase the size or
change the character of the leased premises.
Introduced, considered favorably on first reading, and ordered published this 18th day of
March, A.D. 2008, and to be presented for final passage on the 1st day of April, A.D. 2008.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 1 st day of April, A.D. 2008.
Mayor
ATTEST:
City Clerk