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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 10/05/2004 - SECOND READING OF ORDINANCE NO. 149, 2004, AUTHORI ITEM NUMBER: 10 AGENDA ITEM SUMMARY DATE: October 5, 2004 FORT COLLINS CITY COUNCIL STAFF: Helen Matson Maurice Head SUBJECT Second 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 Second Reading. 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, was unanimously adopted on First Reading on September 21, 2004. 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 terns 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 publi d this 21st day of September,A.D. 2004, and to be presented for final passage on the 5th d of October,A.D. 004. ayor ATTEST: City Clerk Passed and adopted on final reading on the 5th day of October, A.D. 2004. Mayor ATTEST: City Clerk 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 Fi s. y, 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 Affordab o i Pro wi 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 is h d d a 'nimum of five years. Leasing the property during this ti period enera e f he program, eliminates ground maintenance and discourages ndah a ctures. a City will lease the residence as a horse property with acreage. "'