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Home My WebLink AboutCOUNCIL - AGENDA ITEM - 06/07/2005 - SECOND READING OF ORDINANCE NO. 058, 2005, AUTHORI ITEM NUMBER: 12 AGENDA ITEM SUMMARY DATE: June 7, 2005 FORT COLLINS CITY COUNCIL STAFF: Helen Matson Gary Diede SUBJECT Second Reading of Ordinance No. 058,2005,Authorizing an Easement for a Pedestrian Bridge for Opera Gardens Lofts. RECOMMENDATION Staff recommends adoption of the Ordinance on Second Reading. EXECUTIVE SUMMARY The development of Opera Garden Lofts was approved as a minor amendment to the Opera Galleria, contingent upon the developer being able to provide off-street parking to the users of the new mixed- use building and also contingent upon negotiating permission from the City for a bridge between the Opera Galleria and the Civic Center Parking Structure ("CCPS"). The developer cannot commence construction until this easement is granted. The developer has indicated that this bridge is important to make the Opera Garden Lofts project more attractive to lenders and potential purchasers of units. The Opera Gardens Lofts project will add two floors to the Opera Galleria. The easement request is to construct an above-grade pedestrian bridge from the 4th floor of the CCPS to one of the new floors of the Opera Galleria. This pedestrian bridge will not replace the existing bridge, which is a public bridge. The new bridge will be a private bridge to be used by users of the mixed-use structure. Ordinance No. 058,2005,was unanimously adopted on First Reading on May 17, 2005. ORDINANCE NO. 058, 2005 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE CONVEYANCE OF AN EASEMENT FOR A PEDESTRIAN BRIDGE FOR OPERA GARDENS LOFTS WHEREAS, the City of Fort Collins, Colorado (the "City") is the owner of certain property known as the Civic Center Parking Structure (the "Parking Structure") as well as the alley property between the Parking Structure and the Opera Galleria building; and WHEREAS, a minor amendment to add two additional levels to the Opera Galleria building for private residential units, called the Opera Gardens Lofts (the "Lofts"), has been approved subject to the grant of rights needed to construct a pedestrian bridge from the new portions of the Opera Galleria, across the alley, and attaching to the Parking Structure; and WHEREAS, the developer of the Lofts (the "Developer") has requested that the City grant an easement for the proposed pedestrian bridge (the "Easement"), which will be for private use only, on and over that area more particularly described on Exhibits "A" and "B", attached hereto and incorporated herein by this reference (the "Easement Area"); and WHEREAS, City staff has negotiated easement terms to provide for the Easement for a period of up to 99 years, subject to termination by the City after the first 31 years, together with additional terms, conditions and requirements, as shown in the Easement Agreement, a copy of which, dated May 13, 2005, is on file in the office of the City Clerk and available for public inspection; and WHEREAS, the required compensation for the Easement, based on land value, the loss of one parking space in the Parking Structure and the cost of reconfiguring parking spaces is $26,000; and WHEREAS, City staff has reviewed the proposed Easement and does not anticipate that the conveyance of the Easement will result in any adverse impacts to the City or will interfere with the City's operation of the Parking Structure or the alley; and WHEREAS, the City has previously requested and negotiated with the owner of the Opera Galleria (the "Owner") the granting of a separate easement to the City for the existing City-owned pedestrian bridge that crosses the alley from the Parking Structure to the second level of the Opera Galleria building, and City staff has recommended that the Council condition the authorization of the proposed Easement upon the Owner's execution of this separate easement to the City; and WHEREAS, in 1998 in connection with the issuance of Lease Certificates of Participation for the Civic Center Facilities, the Parking Structure was leased to Fort Collins Capital Leasing Corporation ("FCCLC"), and the Bank of Cherry Creek, N.A. (the "Bank"), acquired a security interest in FCCLC's leasehold interest, and as a result of these arrangements, the consent of FCCLC and the Bank is required in order for the City to convey the Easement to the Developer; and WHEREAS, Section 23-111 of the City Code provides that the City Council is authorized to sell, convey or otherwise dispose of an interest in real property owned by the City, provided the Council first finds by ordinance that any sale or disposition of that real property owned by the will be for the benefit of the City's citizens, and will be 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 the conveyance of the Easement consistent with the terms of this Ordinance will be for the benefit of the City's citizens, and further finds that it will be in the best interests of the City of Fort Collins. Section 2. That contingent upon the consent of FCCLC and the Bank, and further contingent upon the Owner's execution of a satisfactory easement for the City's existing pedestrian bridge between the Parking Structure and the Opera Galleria, the Mayor is hereby authorized to execute the Easement Agreement and such documents of conveyance as are necessary for the City to convey the Easement for the Opera Gardens Lofts pedestrian bridge, consistent with the terms of this Ordinance, together with such additional terms and conditions or modifications 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 or red published this 17th day of May, A.D. 2005, and to be presented for final passage on the ay of June, A.D. 2 5. J Mayo ATTEST: - 4�.� City Clerk Passed and adopted on final reading on the 7th day of June, A.D. 2005. Mayor ATTEST: City Clerk ITEM NUMBER: 15 AGENDA ITEM SUMMARY DATE: May 17, 2005 FORT COLLINS CITY COUNCIL STAFF: Helen Matson Gary Diede SUBJECT ' First Reading of Ordinance No. 058, 2005, Authorizing an Easement for a Pedestrian Bridge for Opera Gardens Lofts. RECOMMENDATION Staff recommends adoption of the Ordinance on First Reading. FINANCIAL IMPACT The compensation for the ease(a,r] t a o e le i be$ji 0 and the compensation for the attachment to the Civic Centering ctur w ich ill It in the loss of one parking space and costs associated with recoura o f paring%spaces, 16,000. The total revenue for the Transportation/Parking Fund wifl'be$26,000. EXECUTIVE SUMMARY The development of Opera Garden Lofts was approved as a minor amendment to the Opera Galleria, contingent upon the developer being able to provide off-street parking to the users of the new mixed- use building and also contingent upon negotiating permission from the City for a bridge between the Opera Galleria and the Civic Center Parking Structure ("CCPS"). The developer cannot commence construction until this easement is granted. The developer has indicated that this bridge is important to make the Opera Garden Lofts project more attractive to lenders and potential purchasers of units. The Opera Gardens Lofts prole t i d twd floors to`tbN4tor .Galleria. The easement request is to construct an above-grade edestria�bridge ro p,t of the CCPS to one of the new floors of the Opera Galleria. is pe A., b' will ace the existing bridge, which is a public bridge. The new bridge`w11 be'a private bridg used by users of the mixed-use structure. Staff has worked with the developer to negotiate the terms of the easement,which will be for a term of up to 99 years. The City may not terminate this easement during the first 31 years,which is the May 17, 2005 -2- Item No. 15 expected period for initial construction and mortgage financing. After that time, the City may terminate the easement with 120 days notice to the easement holder. The easement is contingent upon the developer entering into a development agreement with the City by October 31,2005. The design of the pedestrian bridge hedule orpnsNseral s=subject to City approval. The Ordinance also makes the gra fthis ea emen oexecution of the easement for the City's public pedestrian bridge which h bee e years ago but was never signed by the Opera Galleria owner. The Ordinance authorizes the easement under the terms and conditions as discussed above, and generally in the form of Easement Agreement on file in the City Clerk's Office. ATTACHMENTS 1. Vicinity Map a a a; xr