HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 07/20/2010 - RESOLUTION 2010-040 AUTHORIZING THE LEASE OF CITY- DATE: July 20, 2010
STAFF: Helen Matson _
Kayla Ballard • • •
Resolution 2010-040 Authorizing the Lease of City-Owned Property at 812 North Shields Street for Up to Two Years.
EXECUTIVE SUMMARY
The property at 812 North Shields was purchased in 2000 as part of the Operations Services Master Plan. The
property has been leased since the time of purchase. This Resolution authorizes the lease of the property for up to
two years.
BACKGROUND / DISCUSSION
The property is composed of approximately three acres of residential land and consists of a ranch-style single-family
dwelling and two outbuildings. A large portion of the property is open field that the tenant maintains. Deer, fox, and
other wildlife tend to gather in the open field. In addition, having the property occupied will eliminate costly ground
maintenance and will discourage vandalism in empty structures.
FINANCIAL / ECONOMIC IMPACTS
Staff has researched lease rates of private rentals that are comparable in size to this property. The market value for
the leasing of this property falls within the lease rates, if not slightly higher, of the private rentals. Rent collected from
this lease will result in at least$10,200 per year in unanticipated revenue to the Real Estate Services. The tenant pays
all utilities.
STAFF RECOMMENDATION
Staff recommends adoption of the Resolution.
ATTACHMENTS
1. Location map
ATTACHMENT 1
812 North Shields
City-Owned Lease Property
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RESOLUTION 2010-040
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
812 NORTH SHIELDS STREET FOR UP TO TWO YEARS
WHEREAS, the City is the owner of the property at 812 North Shields Street, Fort Collins,
Larimer County, Colorado (the "Property"); and
WHEREAS, the City purchased the Property for City facilities to be constructed at a later
date pursuant to the Operations Services Master Plan; and
WHEREAS,the City has leased the Property for the last ten years and City staff recommends
continuing to lease the Property for a period of up to two additional years, at an annual rate of at
least $10,200; and
WHEREAS, the lease of the Property is beneficial to the City in that it will discourage
vandalism and reduce the City's costs to maintain the Property; and
WHEREAS,under Section 23-114 of the City Code,the City Council is authorized to lease,
for a definite term of two years of less, any and all interests in real property owned in the name of
the City,provided that the City Council first finds,by resolution,that the lease is in the best interests
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 leasing the property at 812 North
Shields Street as provided herein 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 this Resolution, together with such
additional terms and conditions as the City Manager,in consultation with the City Attorney, deems
necessary and appropriate to protect the interests of the City or to effectuate the purposes of this
Resolution, including, but not limited to, any necessary changes to the description of the Property,
so long as such changes do not materially increase the size or change the character of the property
to be leased.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 20th
day of July A.D. 2010.
Mayor
ATTEST:
City Clerk