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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 04/06/2004 - SECOND READING OF ORDINANCE NO. 049, 2004, AUTHORI ITEM NUMBER: 12 AGENDA ITEM SUMMARY DATE: April 6, 2004 FORT COLLINS CITY COUNCIL STAFF: Helen Matson Maurice Head SUBJECT Second 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 Second Reading. 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. Ordinance No. 049, 2004, was unanimously adopted on First Reading on March 16, 2004. 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-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 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 nl, A.D. 2004. ATTEST: Mayor la�a City Clerk Passed and adopted on final reading on the 6th day of April, A.D. 2004. Mayor ATTEST: City Clerk 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 C of o Ye RECOMMENDATION Staff recommends the adoption of the Ordinance on First Reading. FINANCIAL IMPACT Rent collected from this lease ill res Oat t 5 yerinunanticipated 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 Cte s o mi um of five years. Leasing the property during this time periven f t rog and eliminates the cost of ground maintenance for the City.