HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 12/04/2007 - FIRST READING OF ORDINANCE NO. 144, 2007, AUTHORI ITEM NUMBER: 13
AGENDA ITEM SUMMARY DATE: December4, 2007
FORT COLLINS CITY COUNCIL STAFF: Patrick Rowe
SUBJECT
First Reading of Ordinance No. 144, 2007, Authorizing the Lease of City-Owned Property at 212
LaPorte Avenue,Along with Related Parking Rights at 222 LaPorte Avenue, for up to Five Years,
RECOMMENDATION
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT
Utilities and tenant finish costs will be the obligation of the Tenant,and the City will be responsible
for the maintenance costs. The City will receive a minimum of$29,150 annually in gross rent,
which will be used to cover operation expenses and the balance will go to the General Fund.
EXECUTIVE SUMMARY
In July 2005, the City purchased the former Abraxis property at 212 LaPorte Avenue to allow for
future City development. The property was leased back to Abraxis until March of this year while
the new Abraxis facility was built. The City has no immediate use for the property.
Staff recommends that the former Abraxis property, as well as the adjoining parking to the west at
222 LaPorte Avenue, be leased at current market rates, no less than $5.00 per sq ft annually, for a
period of up to five years to offset maintenance expenses and generate revenue.
212 W. LaPorte Avenue
Lease Location Map
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ORDINANCE NO. 144, 2007
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
212 LAPORTE AVENUE, ALONG WITH RELATED PARKING
RIGHTS AT 222 LAPORTE AVENUE, FOR UP TO FIVE YEARS
WHEREAS, the City of Fort Collins is the owner of the property legally described as Lots
44 and 45, Block 32, Fort Collins, Colorado, also known as 212 LaPorte Avenue (the"Property");
and
WHEREAS, the Property was purchased by the City in 2005 to allow for future City
Development consistent with the Civic Center Master Plan; and
WHEREAS, the City has no present use for the Property, and City staff is therefore
recommending that it be leased at a current market rate of no less than$5.00 per square foot to offset
the City's maintenance expenses and generate revenue; and
WHEREAS, a lease of the Property could also include the right to use parking spaces
adjacent to the Property on the City-owned property at 222 LaPorte Avenue; and
WHEREAS,under Section 23-111(a)of the Code of the City of Fort Collins,the Council is
authorized to sell, convey or otherwise dispose of any and all interests in real property owned in the
name of the City,provided that Council first finds that such disposition is in the best interests of the
City.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Council hereby finds that leasing the Property located at 212 LaPorte
Avenue along with the right to use parking spaces located at 222 LaPorte Avenue under the terms
listed above is in the best interests of the City.
Section 2. That the City Manager is hereby authorized to execute a lease agreement for
the Property on terms and conditions consistent with this Ordinance, together with such additional
terms and conditions as the City Manager, in consultation with the City Attorney, determines to be
necessary and appropriate to protect the interests of the City,including any necessary changes to the
legal description of the Property, as long as such changes do not materially increase the size or
change the character of the leased premises.
Introduced, considered favorably on first reading, and ordered published this 4th day of
December, A.D. 2007, and to be presented for final passage on the 18th day of December, A.D.
2007.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 18th day of December, A.D. 2007.
Mayor
ATTEST:
City Clerk