HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 05/06/1999 - SECOND READING OF ORDINANCE NO. 54, 1999, AUTHORIZ AGENDA ITEM SUMMARY ITEM NUMBER:
DATE: May 4, 1999
FORT COLLINS CITY COUNCIL STAFF: Ron Mills
SUBJECT :
Second Reading of Ordinance No.54, 1999,Authorizing a Ground Lease Agreement of City-Owned
Property on a Portion of Block 275, Subdivision of the West Side Addition to the City of Fort
Collins, According to the Golding-Dwyre Subdivision Plat.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on Second Reading.
EXECUTIVE SUMMARY:
Ordinance No. 54, 1999, was unanimously adopted on First Reading on April 20, 1999, and
authorizes the City to enter into a ground lease with Mr.John C. Fischer,the current owner of 525
North Whitcomb.
AGENDA ITEM SUMMARY ITEM NUMBER: 18
DATE: April20, 1999
FORT COLLINS CITY COUNCIL STAFF:
Ron Mills
SUBJECT:
First Reading of Ordinance No. 54, 1999,Authorizing a Ground Lease Agreement of City-Owned
Property on a Portion of Block 275, Subdivision of the West Side Addition to the City of Fort
Collins, According to the Golding-Dwyre Subdivision Plat.
RECOMMENDATION:
Staff recommends adoption dihe Ordinance o First Reading
FINANCIAL IMPACT:
Rent collected from this lease will result in $240 annually in unanticipated revenue to Utility
Services. There will be no costs to the City resulting from leasing this property.
7D )17-
EXECUTIVE SUMMARY:
In November 1998,the City of Fort Collins purchased approximately 1.7 acres abutting the Utility
Service Center site from Burlington Northern& Santa Fe Railway Company to help facilitate the
Utility Service Center Master D velopmett)Yw'asprovided-&-the
Theo Blur on Northern&Santa Fe Real
Estate Purchase and Sale Agreement scat"' tlsxist d the property. However,shortly
after the purchase of the prop by thCarage encro hment lease between the railway
company and the tenant of 525 rtlr'V lhi c City by Catellus Management
Corporation(property management for BNSF Railway Company). This lease was originally entered
into in April 1995. The tenant who signed the lease no longer resides at that address. Therefore,a
new ground lease agreement has been agreed upon between the City and Mr. John C. Fischer, the
current owner of 525 North Whitcomb. Until the Utility Service Center Master Plan has been
established,this lease agreement will continue on a yearly basis with a 30-day cancellation clause.