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Home My WebLink AboutCOUNCIL - AGENDA ITEM - 05/03/2005 - FIRST READING OF ORDINANCE NO. 050, 2005, APPROPRI ITEM NUMBER : 17 AGENDA ITEM SUMMARY DATE : May 3 , Zoos FORT COLLINS CITY COUNCIL STAFF : Ken Mannon Helen Matson SUBJECT First Reading of Ordinance No, 050, 2005 , Appropriating Unanticipated Revenue in the Capital Projects Fund - Building Community Choices - New Main Library / Acquisition and Design Capital Project and Authorizing the Transfer Between Funds of Existing Revenue to be used to Purchase Property Located at 212 LaPorte Avenue. RECOMMENDATION Staff recommends adoption of the Ordinance on First Reading. FINANCIAL IMPACT This Ordinance authorizes City Council to transfer existing appropriations, totaling $345 ,000, from the Capital Projects Fund - Major Building Maintenance capital project to the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project to be used with existing appropriations therein, totaling $250,000, to be used to purchase the property at 212 West LaPorte Avenue . EXECUTIVE SUMMARY The City of Fort Collins developed the Downtown Civic Center Master Plan in 1996 . At that time, the Plan called for Block 32 to have municipal government offices and a library. The Plan includes a pedestrian corridor through the middle of the block. The City has purchased most of the Block, but there are currently two properties still under individual ownership. The City constructed its new office building on the east half of Block 32 and the Plan contemplates the construction of the new Library on the westerly side of Block 32 . This Library is part of the Building Community Choices . During the design phase of the office building at 215 North Mason, staff attempted to acquire the property 212 West LaPorte Avenue . The owner did not want to sell . The decision was made to design and construct the building without impacting the property at 212 West LaPorte Avenue. The existing building impacted the continued flow of the pedestrian corridor and there have been parking issues since the City ' s occupation of the office building. The owner of 212 West LaPorte Avenue is moving his business and has approached the City to May 3 , 2005 -2 - Item No . 17 purchase the property. This is a good opportunity to purchase this site for our future use on the Block. With this property, the City will own the entire Block except for the southwesterly corner. Buying today with a willing seller will save the City money in the future and, until the Block is developed, the City will rent the property to generate income. The purchase price is $625 ,000 . The seller will be leasing the premises after closing until their building is built. At the time of closing, the purchase price will be credited by $30 ,000 for ten month's rent of the property. The balance due after this credit is $ 595 ,000, of that there is $250,000 available in the capital Projects fund - Building Community Choices - New Main Library/Acquisition and Design capital project. In addition, staff is recommending that Council use existing appropriations in the Capital Projects Fund - Major Building Maintenance, totaling $345 ,000, for the balance of the purchase price. ATTACHMENTS 1 . Location Map ATTACHMENTI 212 W. LAPORTE AVENUE LOCATION MAP it ri � Mil �li eii9"*ip ,�rM4 Ik��P�r il'�' , JL 2 ri�rr'r � ' r°�M,n�'ll iy� ;✓'S"`r� ,K k�� n i ��5y'�� NJ', v� �i 6v � dul�°�'i�JI�� E'it'•,n'�,�i�' q LAPORTE AVE ggINN, A A ® 212 W. LAPORTE PROPOSED PURCHASE SITE N ORDINANCE NO. 050, 2005 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND - BUILDING COMMUNITY CHOICES - NEW MAIN LIBRARY/ACQUISITION AND DESIGN CAPITAL PROJECT AND AUTHORIZING THE TRANSFER BETWEEN FUNDS OF EXISTING REVENUE TO BE USED TO PURCHASE PROPERTY LOCATED AT 212 LAPORTE AVENUE WHEREAS , the City Council adopted Resolution 1996-086, on July 16, 1996, adopting the Civic Center Master Plan (the "Plan"), a collaborative planning tool developed by the City and Larimer County to be used for the various uses and developments that the City and the County seek to encourage and facilitate as a civic and government center in Fort Collins; and WHEREAS , potential uses for Block 32, located between Maple Street and LaPorte Avenue on the north and south and Mason and Howes Streets on the east and west, as covered in the Plan, included the construction of municipal government offices and a library; and WHEREAS , in accordance with the Plan, in 2000, the City constructed a City Office Building on the southeast corner of Block 32 ; and WHEREAS , in 2001 , the City purchased the Poudre Feed property (208 N. Howes) and the Poudre Valley Creamery Property (222 LaPorte Avenue), both located on Block 32 , as potential sites for a new main library; and WHEREAS , the property located at 212 LaPorte Avenue (the "Property") which houses a local business, located between the City Office Building and the Poudre Valley Creamery property, is currently under individual ownership ; and WHEREAS , the owner of the Property is moving and relocating his business and has approached City staff about the possibility of selling said property to the City; and WHEREAS , purchase of the Property would allow the City to control ownership of the entire block, with the exception of a property located on the northwest corner of the block; eliminate some parking issues associated with the City Office Building; and possibly generate income from the Property through rental agreements, until such time that decisions are made towards further development of Block 32 ; and WHEREAS, staff recommends purchasing the Property, located at 212 LaPorte Avenue, at a cost of $ 625 ,000 ; and WHEREAS , staff has identified existing appropriations in the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project, totaling $250,000 , and existing appropriations ($345 ,000) in the Capital Projects Fund - Major Building Maintenance capital project, and $30,000, in unanticipated revenue in the form of prepaid rent and credited against the purchase price of the Property at closing, in the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project to be used to purchase the property located at 212 LaPorte Avenue ; and WHEREAS , Article V, Section 9, of the Charter of the City of Fort Collins (the "Charter") permits the City Council to make supplemental appropriations by ordinance at any time during the fiscal year, provided that the total amount of such supplemental appropriations, in combination with all previous appropriations for that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS , staff has determined that the appropriation of the unanticipated revenue as described herein will not cause the total amount appropriated in the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project budget to exceed the current estimate of actual and anticipated revenues to be received during any fiscal year; and WHEREAS , Article V, Section 10 of the Charter authorizes the City Council to transfer by ordinance any unexpended and unencumbered amount or portion thereof from one fund or capital project to another fund or capital project, provided that the proposed transfer is from a fund or capital project account in which the amount appropriated exceeds the amount needed to accomplish the purpose specified in the appropriation ordinance ; and WHEREAS , it is the desire of the Council to authorize the transfer of $345 ,000 from the Capital Projects Fund - Major Building Maintenance capital project to the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project, and appropriate $30,000 in unanticipated revenue in the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project to be used with existing appropriations therein, totaling $250,000, to purchase the property located at 212 LaPorte Avenue . . NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows : Section 1 . That the unexpended appropriated amount of THREE HUNDRED FORTY- FIVE THOUSAND DOLLARS ($345 ,000) is hereby authorized for transfer from the Capital Projects Fund - Major Building Maintenance capital project to the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project, to be used with existing appropriations therein, totaling $250,000, to purchase the property located at 212 LaPorte Avenue. . Section 2 . That there is hereby appropriated for expenditure from unanticipated revenue in the Capital Projects Fund - Building Community Choices - New Main Library/Acquisition and Design capital project the sum of THIRTY THOUSAND DOLLARS ($30,000) to be used with existing appropriations to purchase the property located at 212 LaPorte Avenue. Introduced and considered favorably on first reading and ordered published this 3rd day of May, A.D . 2005 , and to be presented for final passage on the 17th day of May, A.D . 2005 . Mayor ATTEST : City Clerk Passed and adopted on final reading this 17th day of May, A.D . 2005 . Mayor ATTEST : City Clerk