HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 09/21/2004 - FIRST READING OF ORDINANCE NO. 149, 2004, AUTHORIZ ITEM NUMBER: 11
AGENDA ITEM SUMMARY DATE: September 21, 2004
FORT COLLINS CITY COUNCIL STAFF: Helen Matson
Maurice Head
SUBJECT
First Reading of Ordinance No. 149, 2004, Authorizing the Lease of City-owned Property at
3620 Kechter Road for Up to Five Years.
RECOMMENDATION
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT
Rent collected from this lease will result in at least $14,400 in unanticipated revenue to the
Advance Planning Affordable Housing Program. Tenant will pay all utilities and ground
maintenance.
EXECUTIVE SUMMARY
The City acquired this property as part of the Affordable Housing Land Bank Program. The
property is composed of five acres of development land with a single family dwelling. In
accordance with the highest and best use, the City will eventually divide the property into four
acres of development land and a one-acre residential 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, eliminates ground
maintenance and discourages vandalism in empty structures. The City will lease the residence as
a horse property with acreage.
ORDINANCE NO. 149, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
3620 KECHTER ROAD, FORT COLLINS, COLORADO,
FOR UP TO FIVE YEARS
WHEREAS, in April 2001, the Council adopted Ordinance No. 048, 2001, amending
Chapter 23 of the Code of the City by the addition of a new Article XI entitled"Land Banking"; and
WHEREAS, Ordinance No. 048, 2001, contains a determination made by the City Council
that the acquisition of real property in order to ensure the property will be available for future
development to provide housing for extremely low and very low income families is in the best
interests of the citizens of the City; and
WHEREAS, Ordinance No. 048, 2001, further states that the proposed program for the
banking of real property for the purpose of assisting housing providers in providing housing for
extremely low and very low income families will not negatively impact the local real estate market,
due to the anticipated volume of property purchases the program would entail; and
WHEREAS,as part of the land banking program established pursuant to Ordinance No.048,
2001,known as the Affordable Housing Land Bank Program(the"Land Bank Program"),the City
of Fort Collins acquired the property at 3620 Kechter Road, in Fort Collins (the "Property"), in
April, 2002; and
WHEREAS, the City desires to lease this Property for a period of up to five years at an
annual rate of at least $14,400; 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 at 3620 Kechter Road as
provided herein is in the best interests of the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute a negotiated Lease
Agreement 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 appropriate
to protect the interests of the City.
Introduced, considered favorably on first reading, and ordered published this 21st day of
September,A.D. 2004, and to be presented for final passage on the 5th day of October,A.D. 2004.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 5th day of October, A.D. 2004.
Mayor
ATTEST:
City Clerk
Lease of 3620 Kechter Road
Location Map
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