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Home My WebLink AboutCOUNCIL - AGENDA ITEM - 03/18/2003 - ITEMS RELATED TO LEASE OF CITY-OWNED PROPERTY AT 1 AGENDA ITEM SUMMARY ITEM NUMBER: 17 A-B DATE: March 18, 2003 FORT COLLINS CITY COUNCIL Maurice Head STAFF: Helen Matson SUBJECT: Items Related to Lease of City-Owned property at 1506 West Horsetooth Road. RECOMMENDATION: Staff recommends adoption of the Resolutions. FINANCIAL IMPACT: Rent collected from the lease of two houses and outbuildings will result in at least $22,800 in unanticipated revenue to the Advance Planning Affordable Housing Program. The tenants will pay all charges utilities and ground maintenance. EXECUTIVE SUMMARY: A. Resolution 2003-032 Authorizing a One-YearLease of City-Owned Property at1506AWest Horsetooth Road. B. Resolution 2003-033 Authorizing a One-Year Lease of City-Owned Property at 1506B West Horsetooth Road. BACKGROUND: 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'. At the time of the City's purchase there were two tenants occupying the structures. Staff is negotiating with these tenants to continue living at this site. The tenant for 1506A West Horsetooth Road will rent the single family residence, the garage, and the horse facilities. DATE: arc ITEM NUMBER: The tenant for 1506B West Horsetooth Road will rent the efficiency apartment. The proposed new leases will be effective for 12 months from the date of the lease and will allow for additional one- year renewals, at the City's option. RESOLUTION 2003-032 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING A ONE-YEAR LEASE OF CITY-OWNED PROPERTY AT 1506A WEST HORSETOOTH ROAD, FORT COLLINS, COLORADO WHEREAS, in April 2001, the City Council adopted Ordinance No. 48, 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 would be in the best interests of the citizens of the city; and WHEREAS, Ordinance No. 48, 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, as part of the land banking program established pursuant to Ordinance No. 48, 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,City staff has begun negotiation of a lease of the Property for a term of one year, with an additional one year renewal term, at the City's option, at a monthly rate of at least$1,400; 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 interest of the City. NOW,THEREFORE, BE IT RESOLVED 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 under the terms listed above 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 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 City Council held this 18th day of March, A.D. 2003. Mayor ATTEST: City Clerk RESOLUTION 2003-033 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING A ONE-YEAR LEASE OF CITY-OWNED PROPERTY AT 1506B WEST HORSETOOTH ROAD,FORT COLLINS, COLORADO WHEREAS, in April 2001, the City Council adopted Ordinance No. 48, 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 would be in the best interests of the citizens of the city; and WHEREAS, Ordinance No. 48, 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, as part of the land banking program established pursuant to Ordinance No.48, 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; and WHEREAS,City staff has begun negotiation of a lease of the Property for a term of one year, with an additional one year renewal term,at the City's option,at a monthly rate of at least$500;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 RESOLVED 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 under the terms listed above 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 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 City Council held this 18th day of March, A.D. 2003. Mayor ATTEST: City Clerk Location Sketch Lease of 1506 A and 1506 B W Horsetooth Road - Kr:--•-----'t•,v ^'•4�-�`:4✓\,v�- t� '��p �}��- ��* vl a —~'-- ~��' I �1 T66'7FfAU a N O- J / �T / -•i I -- — r' E = Z —�h -- - z r - Leased Areas N Detail of Leased Areas Fw /1 N. y P y Me. A70 N N. S, T N` . HOaf N<fl0 1) Lease of 1506A W. Horsetooth a a�a Road includes house'W'and _ S 69'44't fi'E 6.0_6_.67 6°�^'a4. o\•.m all outbuildings, and i 2) Lease of 1506B W. Horsetooth ^ i Ho.:< Road includes house"B". i >ut W F—: $1` y.-a 6•aa,.•w ew•... z'wa ww.m w. IF P^W N 8946'"W 517.26'