HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 05/04/2010 - RESOLUTION 2010-026 AUTHORIZING THE LEASE OF CITY- DATE: May 4, 2010
STAFF: Helen Matson
Kayla Ballard
Resolution 2010-026 Authorizing the Lease of City-Owned Property at 150613 West Horsetooth Road, for Up to Two
Years.
EXECUTIVE SUMMARY
The City acquired this property as part of the Affordable Housing Land Bank Program("Land Bank Program")in 2003.
Currently, this site has one single-family residence, one building with an efficiency apartment and garage, and horse
facilities. The lease for 1506E West Horsetooth Road will be for the efficiency apartment.
BACKGROUND / DISCUSSION
The City Affordable Housing Land Bank Program owns property located at 1506 West Horsetooth Road. Leasing of
this property began in 2003. The property consists of 8.3 acres of horse property that includes a single-family
residence,an efficiency apartment and'garage, horse barns,grazing areas and a small horse arena. One of the goals
of the Land Bank Program is to hold land for a minimum of ten years. The Land Bank Program desires to continue
leasing the efficiency apartment until it determines that the property will be available for future low-income family
development.
FINANCIAL IMPACT
Rent collected from the lease of the efficiency apartment will result in an annual rate of at least$4,200 in unanticipated
revenue to the Advance Planning Affordable Housing Program. The tenant will pay all utilities, phone and cable
charges.
SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS
Leasing this property generates revenue for the Land Bank Program, eliminates ground maintenance costs normally
incurred by the City and discourages vandalism in empty structures.
STAFF RECOMMENDATION
Staff recommends adoption of the Resolution.
ATTACHMENTS
1. Location map
ATTACHMENT 1
1506 B W. H O R S ETOOTH R D
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RESOLUTION 2010-026
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
1506B WEST HORSETOOTH ROAD FOR UP TO TWO YEARS
WHEREAS, in April 2001, the City Council adopted Ordinance No. 048, 2001, amending
Chapter 23 of the City Code 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 would be in the
best interests of the citizens of the City; and.
WHEREAS, Ordinance No. 048, 2001, further stated 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 would not negatively impact the local real estate
market, due to the anticipated volume of property purposes the program would entail; and
WHEREAS, in February 2003, 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 acquired the property at 1506B West Horsetooth Road, in Fort Collins (the
"Property"); and
WHEREAS,the City desires to lease the Property for a period of up to two years at an annual
rate of at least $4,200; and
WHEREAS,under Section 23-114 of the City Code,the City Council is authorized to lease
any and all interests in real property owned in the name of the City,provided that City Council first
finds that the lease is in the best interest of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the City Council hereby finds that the lease of the Property at 1506B
West Horsetooth Road under the terms listed above is in the best interests of the City.
Section 2. That the City Manager is hereby authorized to execute a negotiated lease
agreement for the Property consistent with the terms of the Resolution,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.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 4th
day of May A.D. 2010.
Mayor
ATTEST:
City Clerk