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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 09/02/2003 - SECOND READING OF ORDINANCE NO. 111, 2003, AUTHORI AGENDA ITEM SUMMARY ITEM NUMBER: 12 FORT COLLINS CITY COUNCIL DATE: September 2, 2003FROM: Katie Moore SUBJECT : Second Reading of Ordinance No. 111,2003, Authorizing the City to Enter into a Revocable Lease with the Cortina Homeowners' Association for Portions of Public Right-of-Way for Underground Storage. RECOMMENDATION: Staff recommends adoption of the Ordinance on Second Reading. EXECUTIVE SUMMARY: This Ordinance, which was unanimously adopted on First Reading on August 19, 2003, authorizes the Mayor to enter into an agreement with the Cortina Homeowners' Association for a revocable 40 lease of portions of public right-of-way to be used as underground storage for a proposed building on the southwest corner of the intersection of Canyon Avenue and Howes Street. . ORDINANCE NO. 111, 2003 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE CITY TO ENTER INTO A REVOCABLE LEASE WITH THE CORTINA HOMEOWNERS' ASSOCIATION FOR PORTIONS OF PUBLIC RIGHT-OF-WAY FOR UNDERGROUND STORAGE WHEREAS, Sections 23-111 and 23-114 of the City Code authorize the leasing of City property for a term exceeding two years if the City Council finds by ordinance that such lease is in the best interest of the City; and WHEREAS, the developer of a residential/commercial project to be constructed at the southwest comer of Howes Street and Canyon Avenue(the Cortina Project)desire to locate portions of a subterranean storage structure in and under portions of the right-of-way for Howes Street and Canyon Avenue; and WHEREAS, the City Council is willing to enter into a 99-year lease for the above-stated purpose upon the terms and condition as are set out in the Lease Agreement. NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the Lease Agreement attached hereto and incorporated herein as Exhibit"A"is in the best interest of the City and the Mayor is hereby authorized to execute the Lease Agreement including such additional terms and conditions as the City Manager, in consultation with the City Attorney, determines to be necessary or appropriate to protect the interests of the City. Introduced and considered favorably on first reading and ordered published this 19th day of August, A.D. 2003, and to be presented for final passage onyss�the 2nA day of September, A.D. 2003. Mayor = ' A,=ST: City Clerk Passed and adopted on final reading this 2nd day of September, A.D. 2003. Mayor ATTEST: City Clerk AGENDA ITEM SUMMARY ITEM NUMBER: 19 FORT COLLINS CITY COUNCIL DATE: August 19, 2003FROM: Katie Moore SUBJECT: First Reading of Ordinance No. 111, 2003, Authorizing the City to Enter into a Revocable Lease with the Cortina Homeowners' Association for Portions of Public Right-of-Way for Underground Storage. RECOMMENDATION: - Staff recommends adoption of the Ordinance on First Reading. EXECUTIVE SUMMARY: If adopted, this Ordinance would authorize the Mayor to enter into an agreement with the Cortina Homeowners' Association for arevocable lease of:portions,of public right-of-way to be used as underground storage for a proposed building on the southvesf corner of the intersection of Canyon fa.6 ' Avenue and Howes Street. The Canyon'Avenue�lease area is 478 square feet of surface area with a depth of 9 feet (approximately 77.feet in length and 6 feet in-Width). The other area is within the Howes Street right-of-way and measures 520 square feet of area and is also 9 feet in depth (approximately 84 feet in length and 6 feet in width). The lease area will be leased to and maintained by the Homeowners' Association of the "Cortina" project. This lease area only applies to the underground portions of the right of-way immediately adjacent to the proposed building,(more fully described on Exhibit"A"of the Lease and Attachment 1 of the Agenda Item Summary)and is to be used for the purpose of construction and maintaining underground storage for the building's tenants. The term of the lease is 99 years with the lease payment to be made in one lump sum upon commencement of the lease, at a rate of$10 er s uaze foot of the overlying surface area for a total of$9,984.