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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 10/05/2004 - ITEMS RELATED TO LEASE OF CITY-OWNED PROPERTY AT 1 ITEM NUMBER: 12 A-B AGENDA ITEM SUMMARY DATE: October 5, 2004 FORT COLLINS CITY COUNCIL STAFF: Helen Matson Maurice Head EXECUTIVE SUMMARY Items Related to Lease of City-Owned Property at 1506 West Horsetooth Road. RECOMMENDATION Staff recommends adoption of both Ordinances on Second Reading. EXECUTIVE SUMMARY A. Second Reading of Ordinance No. 151, 2004, Authorizing the Lease of City-owned Property at 1506A West Horsetooth Road for Up to Five Years. B. Second Reading of Ordinance No. 152, 2004, Authorizing the Lease of City-owned Property at 1506B West Horsetooth Road for up to Five Years. The City acquired this property as part of the Affordable Housing Land Bank Program (the "Land Bank Program"). The property is composed of 8.3 acres of development land. Currently this site has one single family residence, one building with an efficiency apartment and garage, and facilities for a horse 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 lease for 1506A West Horsetooth Road will include the single family residence, the garage, and the horse facilities. The lease for 1506B West Horsetooth Road will be for the efficiency apartment. These Ordinances were unanimously adopted on First Reading on September 21, 2004. ORDINANCE NO. 151, 2004 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 1506A WEST HORSETOOTH 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 1506A West Horsetooth Road, in Fort Collins (the "Property"), in February, 2003; and WHEREAS, the City desires to lease this Property for a period of up to five years at an annual rate of at least $14,420; 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 interest 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 the lease of the Property at 1506A West Horsetooth 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 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 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. J . ayor ATTEST: City Clerk Passed and adopted on final reading on the 5th day of October, A.D. 2004. Mayor ATTEST: City Clerk ORDINANCE NO. 152, 2004 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 1506B WEST HORSETOOTH 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 1506B West Horsetooth Road, in Fort Collins (the "Property"), in February, 2003; WHEREAS, the City desires to lease this Property for a period of up to five years at an annual rate of at least $4,800; 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 interest 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 the lease of the Property at 1506B West Horsetooth Road as provided herein is in the best interest 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 da of October,A.D. 2004. Mayor ATTEST: D City Clerk Passed and adopted on final reading on the 5th day of October, A.D. 2004. Mayor ATTEST: City Clerk ITEM NUMBER: 13 A-B AGENDA ITEM SUMMARY DATE: September 21, 2004 FORT COLLINS CITY COUNCIL STAFF: Helen Matson Maurice Head EXECUTIVE SUMMARY Items Related to Lease of City-Owned Property at 1506 West Horsetooth Road. RECOMMENDATION C (-)P y Staff recommends adoption of both Ordinances on First Reading. FINANCIAL IMPACT Rent collected from the lease of two houses and outbuildings will result in at least $19,000 in unanticipated revenue to the Advance Planning Affordable Housing Program. The tenants will pay all charges for utilities an ounr)c NAT EXECUTIVE SUMMARY A. First Reading of Ordinance No. 151, 2004, Authorizing the Lease of City-owned Property at 1506A West Horsetooth Road for Up to Five Years. B. First Reading of Ordinance No. 152, 2004, Authorizing the Lease of City-owned Property at 1506B West Horsetooth Road for up to Five Years. BACKGROUND C n P V The City acquired this property as part of the Affordable Housing Land Bank Program (the "Land Bank Program"). The property is composed of 8.3 acres of development land. Currently this site has one single family residence, one building with an efficiency apartment and garage, and facilities for a horse 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 lease for 1506A West Horsetooth Road will include the single family residence, the garage, and the horse facilities. The lease for 1506B West Horsetooth Road will be for the efficiency apartment.