HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 03/16/2004 - FIRST READING OF ORDINANCE NO. 049, 2004 AUTHORIZI ITEM NUMBER: 14
AGENDA ITEM SUMMARY DATE: March 16, 2004
FORT COLLINS CITY COUNCIL STAFF: Helen Matson
Maurice Head
SUBJECT
First Reading of Ordinance No. 049, 2004, Authorizing the Lease of City-owned Property at 6916
South College Avenue, Fort Collins, Colorado, 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 property as part of the Affordable Housing Land Bank Program. The property
is composed of 17.11 acres of vacant development land. Prior to the City's purchase and during last
summer, the site was leased for hay production. This lease is for land only and does not allow the
use of City-owned water on the property.
One of the goals of the Land Bank Program is to hold land for a minimum of five years. Leasing the
property during this time period generates revenue for the program and eliminates the cost of ground
maintenance for the City.
ORDINANCE NO. 049, 2004
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 of Fort Collins, Colorado (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-Bemhardt 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 of Fort Collins intends to hold the Property for a period of five years
before pursuing the development of affordable housing opportunities; and
WHEREAS,the City desires to lease the Property for a 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 23-114 of the Code of the City of Fort Collins, the Council is
authorized to lease 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 ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Council hereby finds that leasing the Property as provided herein is in
the best interests for 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 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.
Introduced, considered favorably on first reading, and ordered published this 16th day of
March, A.D. 2004, and to be presented for final passage on the 6th day of April, A.D. 2004.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 6th day of April, A.D. 2004.
Mayor
ATTEST:
City Clerk
Affordable Housing Property/
Hay Production Lease
Location Map
a
- - S i .
o �pl\\\o`� ® ■ r
Rick- G� lewoo Dr. i
Ri ' 1
d9e B
ffB®
i
/ 1
Bi c
i
I
,
N
® Property
W E
8