HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 06/04/2002 - SECOND READING OF ORDINANCE NO. 078, 2002, APPROPR AGENDA ITEM SUMMARY ITEM NUMBER: 9
DATE: June 4, 2002
FORT COLLINS CITY COUNCIL FROM: Dave Agee
Bob Smith
SUBJECT :
Second Reading of Ordinance No. 078, 2002, Appropriating Prior Year Reserves in the Storm
Drainage Fund to Acquire Property in the Poudre River Floodplain at 740 North College
Avenue.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on Second Reading.
( EXECUTIVE SUMMARY:
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In 2000 City Council adopted a resolution that "directed the City Manager to pursue the
acquisition of any real property in the Poudre River floodplain on a `willing seller, willing
buyer' basis subject to appropriation, with priority given to those structures in the floodway and
product corridor."
In response to the owner of property located at 740 North College Avenue, the City's Real Estate
Services Department has successfully negotiated an acceptable price with the property owner for
the acquisition of the residential property. The property is located in the highest hazard area or
floodway and product corridor of the Poudre River floodplain. This Ordinance was unanimously
adopted on First Reading on May 21, 2002.
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AGENDA ITEM SUMMARY ITEM NUMBER: 17
DATE: May 21, 2002
FORT COLLINS CITY COUNCIL Dave Agee
STAFF: Bob Smith
SUBJECT:
First Reading of Ordinance No. 078, 2002, Appropriating Prior Year Reserves in the Storm
Drainage Fund to Acquire Property in the Poudre River Floodplain at 740 North College
Avenue.
RECOMMENDATION:
Staff recommends adoption oCeOrdice o i t Rea
din
FINANCIAL IMPACT:
The funds appropriated with this Ordinance will be taken from unencumbered, unappropriated
reserves of the Storm Drainage Fund which have been determined to be adequate to cover this
appropriation.
EXECUTIVE SUMMARY:
In 2000 City Council adopted a resolution that "directed the City Manager to pursue the
acquisition of any real property in the Poudre River floodplain on a `willing seller, willing
buyer' basis subject to approp tion, pr t 'ty iv t os structures in the floodway and
product corridor."
In response to the owner of prope cate at 74 orth y lo CoXege Avenue, the City's Real Estate
Services Department has successfully negotiated an acceptable price with the property owner for
the acquisition of the residential property. The property is located in the highest hazard area or
floodway and product corridor of the Poudre River floodplain.
The appropriation of the funds would allow for the acquisition of the property. Upon acquisition
the City would remove the structure and convert the property to open space.