HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 02/19/2002 - SECOND READING OF ORDINANCE NO. 027, 2002, AUTHORI AGENDA ITEM SUMMARY ITEM NUMBER: 16
DATE: February 19, 2002
FORT COLLINS CITY COUNCIL FROM: Link Mueller
Ron Mills
SUBJECT:
Second Reading of Ordinance No. 027, 2002, Authorizing the Sale of a 2.194-Acre Site Originally
Purchased for the Locust Street Outfall at 937-939 Riverside Avenue to Houska Outfall, L.L.C.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on Second Reading.
EXECUTIVE SUMMARY:
In 1994, the City purchased a site for$279,790 to be used for the Locust Street Outfall Project. Financing
for the Project was obtained in the June 1999 Bond Issue and construction was completed in the fall of
2001.
It was expected when the property was purchased that all of it would not be needed for the Project;
however,until the design was completed,it was not known if the site would have a developable remainder.
As it turns out, the site is developable even with the easement reservations. As a result,staff informed all
City Departments that this site would be excess property to Utility Services and would be marketed for sale
if a City need was not identified. Parks, Natural Resources and Affordable Housing considered the site;
however, each determined it did not meet their respective needs.
During the market phase, the adjacent property owner,Houska Automotive, came forward with an offer
to purchase the site; however, agreement on value could not be reached. As a result, the property was
appraised and the appraisal was used to help establish value. Ordinance No.027,2002 was unanimously
adopted on First Reading on February 5, 2002.
AGENDA ITEM SUMMARY ITEM NUMBER: 28
DATE: February 5, 2002 ..
FORT COLLINS CITY COUNCIL STAFF: Link Mueller
Ron Mills
SUBJECT:
First Reading of Ordinance No.027,2002,Authorizing the Sale of a 2.194 Acres Site Originally Purchased
for the Locust Street Outfall at 937-939 Riverside Avenue to Houska Outfall,L.L.C.
RECOMMENDATION:
Staff recommends adoption of COrdinuotpinyg.
FINANCIAL IMPACT:
Staff is recommending that the City sell the 2.194 acre parcel to Houska Outfall,LLC at a researched value
of$253,000. As part of the sale, the City is reserving a.971 acre easement for the Locust Street Outfall
Project as well as additional easemen fo othe utili u ses. In addition,the City is retaining a lease,
at no cost to the City, v use the r 3 oft si fo c tion staging area for the on
Oak Street Outfall Project.
EXECUTIVE SUMMARY:
In 1994,the City purchased a site for$279,790 to be used for the Locust Street Outfall Project. Financing
for the Project was obtained in the June 1999 Bond Issue and construction was completed in the fall of
2001.
It was expected when the prope was hase th all of it ould not be needed for the Project;
however,until the design was comp it w if the ould have a developable remainder.
As it turns out, the site is developable even with the easement reservations. As a result, staff informed all
City Departments that this site would be excess property to Utility Services and would be marketed for sale
if a City need was not identified. Parks,Natural Resources and Affordable Housing considered the site;
however, each determined it did not meet their respective needs.
During the market phase,the adjacent property owner, Houska Automotive, came forward with an offer
to purchase the site; however, agreement on value could not be reached. As a result, the property was
appraised and the appraisal was used to help establish value.
Staff is recommending that the Locust Street Outfall site be sold to Houska Outfall,LLC for$253,000.