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HomeMy WebLinkAbout097 - 07/15/1986 - RELATING TO THE CREATION AND ORGANIZATION OF THE ARBOR PLAZA SPECIAL IMPROVEMENT DISTRICT NO. 88 ORDINANCE NO. 97 , 19 86 OF THE COUNCIL OF THE CITY OF FORT COLLINS RELATING TO THE CREATION AND ORGANIZATION OF THE ARBOR PLAZA SPECIAL IMPROVEMENT DISTRICT NO. 88 AND PROVIDING FOR THE CONSTRUCTION OF IMPROVEMENTS THEREIN. WHEREAS, proceedings have been initiated to create the Arbor Plaza Special Improvement District No. 88 ( the "District" ) for the purpose of installing the following improvements : street improvements, water distribution system, sanitary sewer system and storm drainage improvements ( the "Improvements" ) for the benefit of the property contained within and adjacent to the boundary of said District as set forth on Exhibit "A" attached hereto and incorporated herein by reference; and WHEREAS, the Council of the City of Fort Collins, Colorado ( the "Council" ) has begun proceedings to construct, install and acquire the Improvements by the acceptance of the Petition and Waiver dated as of June 17, 1986 (the "Kroh Petition" ) of Kroh Brothers Development Company, a Missouri corporation ( "Kroh" ) , the Petition and Waiver dated as of June 17 , 1986 ( the "Kensington Petition" ) of Kensington Ltd. , a Colorado limited partnership ( "Kensington" ) and the adoption of Resolution No. 86- 113 on July 1, 1986; and WHEREAS, the City has received the necessary Engineering Report for the District, and has waived in writing any notice and other requirements of Chapter 16 of the Code of the City ( the "Code" ) ; and WHEREAS, pursuant to the Kroh Petition and the Kensington Petition, Kroh and Kensington (collectively the "Petitioners" ) have waived in writing any notice and other requirements of Chapter 16 of the Code; and WHEREAS, the City and the Petitioners shall enter into the Master Agreement dated as of July 15, 1986 (the "Master Agreement" ) setting forth the respective rights and responsibili- ties of the parties in the formation of the District and the construction, management, installation and acquisition of the Improvements; and WHEREAS, the Petitioner wishes to proceed with construc- tion of the Improvements using interim private financing, and the Council believes it should now form the District to facilitate the prompt, orderly construction of the Improvements while promoting the best interests of the City residents, and as an indication of its desire to ultimately fund the District upon completion, inspection and acceptance of the Improvements by the Department of Public Works; and WHEREAS, the Council is of the opinion that it is in the best interests of the City to create said District . NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS: Section 1 . There is hereby created and organized a special improvement district under and by virtue of the provi- sions of Chapter 16 of the Code of the City, and pursuant to the provisions set forth in the Master Agreement between the City and the Petitioner regarding the District . The District shall be known as the Arbor Plaza Special Improvement District No. 88 comprised of the real property described on Exhibit "A" attached hereto and incorporated herein by reference. Section 2. The improvements to be constructed in the District shall generally consist of the following: street improvements, curb, gutter , sidewalk, landscaping, street light- ing, electrical distribution, traffic signalization, striping, minor irrigation improvements, water distribution system, sani- tary sewer system and storm drainage improvements, as more fully described in the Engineering Report on file with the City Clerk . Section 3. The estimated total cost of the Improve- ments, including without limitation, the cost of acquiring, plan- ning, engineering, and constructing the Improvements (but excluding legal and advertising costs, interest during construc- tion and until assessments are made by ordinance against the properties benefited, and financing and other incidental costs) as shown in the estimate of probable total cost as made by the Director of Public Works is $927,099 . 50. The estimated amount or proportion of such total cost to be assessed against the property in the District is $899, 514 . 50 . Section 4 . The estimated amount or proportion of such total probable cost of the Improvements to be reimbursed by the City at large to the Petitioner, as hereinafter set forth in this Section 4, is $216,840. 50 for City oversizing costs for improve- ments relating to streets and $27, 585 . 00 for City oversizing costs for improvements relating to water and sanitary sewer (col- lectively the "City Oversizing Costs" ) . The City Oversizing Costs constitute the maximum obligation of the City notwithstand- ing that costs might exceed estimates heretofore submitted, unless appropriation is made therefor . The total actual cost in the District, upon the comple- tion of the Improvements, shall be apportioned in an assessment roll against each lot, tract, or parcel of land to be assessed -2- which assessment roll shall include additional assessments to cover the costs of legal and advertising, interest during con- struction and until assessments are made by ordinance against the properties benefited, financing and other incidental costs to the District . Assessments shall be levied by an assessing ordi- nance. Such assessment shall be a lien until paid in the several amounts assessed against each lot , tract, or parcel of land. The cost of acquiring, constructing, or otherwise installing the Improvements , together with all costs incurred in the formation and financing of the District, shall be assessed against those lots, tracts, or parcels of land owned by the Petitioner and in the manner set forth in Resolution No. 86- 114 on file with the City Clerk . The total of all aggregated assessments shall be sufficient to cover the portion of the total cost of the Improvements to be defrayed by special assessments . The Council acknowledges that as of the date hereof, the City does not have sufficient monies in its street oversizing fund to pay the street oversizing portion of the City Oversizing Costs. In lieu of paying all of the City ' s Street Oversizing Costs, the City and Petitioners agree that the amount of the City' s street oversizing fees for the property within the District need not be paid but shall be deemed a credit against the City ' s Street Oversizing Costs . At the time of construction, the City shall pay the water and sewer oversizing costs from the water and sewer oversizing fund upon receipt and verification of an itemized invoice from the Construction Manager of the project. Any remaining City Oversizing Costs shall be reimbursed to the Petitioner by the City at such time as monies are available in the street oversizing fund or from other sources as may be designated by the City. Such reimbursement shall be used to redeem an equivalent amount of bonds at the earliest possible date. Section 5. After any such lot, tract or parcel of prop- erty within Dhe istrict is divided into smaller parcels or other property interests, the assessment against such lot, tract or parcel shall be reallocated, so that the assessment against each such smaller parcel or other property interest shall bear the same ratio to the original assessment against such lot, tract or parcel as the proportionate interest in such smaller parcel or other property interest bears to the interest in sellable land in such original tract or parcel as so divided into smaller parcels or other property interests. The entire unpaid principal of any assessment or reallocated assessment, as the case may be, together with interest accruing thereon to the next assessment interest payment date (except to the extent that interest on the bonds to be issued by the City for the District has been capital- ized through such date) shall be immediately due and payable by the seller or transferor thereof prior to the sale or transfer of any lot, tract or parcel, or portion thereof if such lot, tract or parcel shall have been divided as aforesaid, unless the -3- purchaser or transferee thereof shall acknowledge, in writing, receipt of notice that the seller or transferor is not paying such assessment or reallocated assessment in full prior to such sale or transfer and that such assessment or reallocated assess- ment against such lot, tract or parcel , or portion thereof as the case may be, shall continue to be a lien thereon. Section 6 . Pursuant to Chapter 16 of the Code of the City, the Council has considered all complaints or objections made or filed in writing by the owners of any real property to be assessed and any other interested persons; the Council finds that all requirements of the Code regarding organization of the District have been fully complied with or properly waived accord- ing to Section 16-38 of the Code; and it is ordered that the District Improvements as provided for in the plans , specifications and map previously adopted by the Council be, and hereby are, ordered to be constructed . Section 7 . The City Manager is authorized to execute the Master Agreement and the Construction Management Agreement dated as of July 15, 1986 between the City and the Petitioner on behalf of the City with the Petitioner setting forth the respective rights and responsibilities of the parties in the formation of the District and the construction, installation and acquisition of the Improvements . Section 8 . When the Improvements herein authorized have been completed, approved and accepted by the City, the costs as set forth in Section 3 hereof shall be assessed upon the real property in the District, all as set forth in Resolution No. 86- 114 If there are any excess bond proceeds available after the Improvements have been completed and paid for, such proceeds may be used, to the extent permitted by law, to construct, install or acquire additional improvements of a like or similar nature to the Improvements; subject , however , to the condition that the Petitioners consent to the additional improve- ments. Section 9 . This Ordinance shall be irrepealable until the bonds is— sued by the City for the Improvements have been duly paid, satisfied and discharged as herein provided. Section 10 . If any section, paragraph, clause or provi- sion of this Or inance shall be held to be invalid or unenforcea- ble, the invalidity or unenforceability of such section, para- graph, clause or provision shall in no manner affect any other provision of this Ordinance. Section 11 . All ordinances, resolutions and regulations of the City in conflict with this Ordinance are hereby repealed to the extent only of such inconsistency. This repealer shall -4- not be construed to revive any ordinance, resolution or regula- tion, or part thereof, heretofore repealed. Section 12 . This Ordinance, immediately on its final passage, shall be recorded in the Ordinance Record of the City kept for that purpose, authenticated by the signatures of the Mayor and the City Clerk, and notice of the adoption thereof shall be published in The Coloradoan, a newspaper of general circulation published in the City. Section 13. All actions, legal or equitable, for relief against any proceeding provided for under Chapter 16 of the Code, whether based upon irregularities, jurisdictional defects or other grounds, shall be commenced within 30 days after the wrong- ful act complained of or else be thereafter perpetually barred. Section 14 . This ordinance shall take effect ten days after its fin— a p sage as provided by Article II , Section 7 of the City Charter . Introduced, considered favorably on first reading, and ordered published this lst day of July, 1986, and to be presented for final passage on the 15th day of July, 1986 . May ATTEST: City Clerk Passed and adopted on final reading by the Council of the City of Fort Collins this 15th day of July, 1986. al�i" Y=m5n May ATTEST: l City C� a� -5- EXHIBIT "A" A. lots 1 and 3, Arbor Plaza P.U.D. , City of Fort Collins, County of lAriNer, State of Colorado. B. A tract of land located in the NEl/4 of Section 2. T6N, R69W of the 6th P.M., County of Larimr, State of Colorado, described as follows: Commencing at the Northeast Corner of said Section 2. thence SOO'47'00'W. 995.83 feet along the East line of the NE1/4 of said Section 2 to the Northeast Corner of that tract of land conveyed to Poudre Valley Rural Electric Association. Inc. as described in Warranty Deed recorded in Book 1451 at Page 378 of the records of Lariner County. Colorado; thence NSB'62'00'W. 46.71 feet along the North line of that tract of land as described in said Book 1451 at Page 378 to the Westerly right-of-way line of U.S. Highway No. 287 (South College Avenue); thence continuing N88052'00'W, 10.00 feet along the North line of that. tract of land as described in said Book 1451 at Page 378; theme NOO'62'00'E, 174.59 feet to the TRUE POINT OF BEGINNING; Thence N89'08'00'W. 153.59 feet; Thence NDO'52'00'E. 72.99 feet; Thence N46'37'00'E. 43.06 feet; Thence Easterly. 75.12 feet along the arc of a curve concave to the North to a point tangent, said arc having a radius of 294.00 feets a central angle of 14'38'25" and being subtended by a chord that bears S81'48'47'E. 74.92 feet; Thence S89'08'00'E, 28.43 feet to a point of curve to the right; Thence Southeasterly. 31.42 feet along the arc of said curve to a point tangent, said arc having a radius of 20.00 feet, a central angle of 90'00'00' and being subtended by a chord that bears S44'06'008E, 28.28 feet; Thence SOO'62'00'W. 73.49 feet to the TRUE POINT OF BEGINNING. Area - 0.329 acres, more or less. C. A TRACT OF LAND LOCATED IN THE NE1/4 OF THE NE1/4 OF SECTION 2, T6N. R69W OF THE 6TH P.M., COUNTY OF LARIMER. STATE OF COLORADO, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 2, FROM WHICH THE E1/4 CORNER OF SAID SECTION 2 BEARS S0O'47'00"W, (BASIS OF BEARING) THENCE S89'56'49"W, 150.20 FEET ALONG THE NORTH LINE OF THE NE1/4 OF SAID SECTION 2 TO THE WESTERLY RIGHT-OF-MAY LINE OF U.S. HIGHWAY NO. 287 (COLLEGE AVENUE); THENCE SDO009'11'E, 30.00 FEET ALONG THE WESTERLY RIGHT-OF-WAY LINE OF SAID U.S. HIGHWAY 10. 287; THENCE S48'13'11"E, 44.98 FEET ALONG THE WESTERLY RIGHT-OF-WAY LINE OF SAID U.S. HIGHWAY NO. 287 TO THE TRUE POINT OF BEGINNING; THENCE S89'56'49'W, 368.20 FEET TO A POINT OF CURVE TO THE LEFT; THENCE SOUTHWESTERLY, 31.42 FEET ALONG THE ARC OF SAID CURVE TO A POINT TANGENT, SAID ARC HAVING A RADIUS OF 20.00 FEET, A CENTRAL ANGLE OF 90-00#000 AND BEING SUBTENDED BY A CHORD THAT BEARS S44'56'49"W, 28.28 FEET; THENCE S00'03111'E, 100.00 FEET TO A POINT OF CURVE TO THE LEFT; THENCE SOUTHEASTERLY, 122.56 FEET ALONG THE ARC OF SAID CURVE TO A POINT TANGENT, SAID ARC HAVING A RADIUS OF 211.00 FEET, A CENTRAL ANGLE OF 33'16'49" AND BEING SUBTENDED BY A CHORD THAT BEARS S16'41 '35"E. 120.84 FEET; THENCE S33'20'00'E, 311.00 FEET TO A POINT OF CURVE TO THE LEFT; THENCE SOUTHEASTERLY, 220.10 FEET ALONG THE ARC OF SAID CURVE TO A POINT TANGENT, SAID ARC HAVING A RADIUS OF 226.00 FEET, A CENTRAL ANGLE OF 55'48000" AND BEING SUBTENDED BY A CHORD THAT BEARS S61'14'00"E, 211.50 FEET; THENCE S89'08100'E. 28.43 FEET TO A POINT OF CURVE TO THE LEFT; THENCE NORTHEASTERLY, 31.42 FEET ALONG THE ARC OF SAID CURVE TO A POINT TANGENT, SAID ARC HAVING A RADIUS OF 20.00 FEET. A CENTRAL ANGLE OF 90'00'00" AND BEING SUBTENDED BY A CHORD THAT BEARS N45'52'00"E, 28.28 FEET; THENCE NDO'S2'00"E, 299.13 FEET; THENCE NDO'02'00"E. 229.06 FEET TO THE WESTERLY RIGHT-OF-MAT LINE OF SAID U.S. HIGHWAY NO. 287; THENCE N48'13'116W. 75.52 FEET ALONG THE WESTERLY RIGHT-OF-MAY LINE OF SAID U.S. HIGHWAY NO. 287 TO THE TRUE POINT OF BEGINNING. AREA ■ 4.684 ACRES. NORE OR LESS. D. A tract of land located in the SE 1/4 of Section 35, T7N, R69W, of the 6th P.M. , Larimer County, Colorado, being more particularly described as follows: Considering the south line of the SE 1/4 Of said Section 35 as bearing N 890 53' 00" and with all bearings contained herein relative thereto: Commencing at the SE Corner of said Section 35, thence along the said south line, N 890 53' 00" W, 150.20 feet; thence, N 000 02' 00" E, 30. 00 feet to a point on the north right-of-way, N89" 53 ' 00" W, 418. 95 feet; thence, N O10 00' 00" E, 501. 03 feet; thence S 89° 53' 13" E, (510.73 feet platted) , 510. 34 feet measured to the west right-of-way of U.S. Highway #287; thence along the said right-of-way of the following courses: S 00° 01' 00" W, 399. 64 feet; thence, S 450 04 ' 30" W, 141. 26 feet; thence, S 000 02' 00" W, 1.40 Feet to the True Point of Beginning. The above described tract contains 5.801 acres. r >. ke �t> .y �..feervoir N — � � I u I PRO Of VICINITY MAP 1" 2000 KENS/NGTON 10 oe N11 11 h O y h , HARMONY RO40 O — W T IITT ME 7 � Y I � Z I W ril �� � z _ i unLITT [ASENEWr , y PALMER DRIVE I LOT 2 I , I �OOTT 3 un`nT s u� o[_eiser SPECIAL IMPROVEMENT DISTRICT BOUNDARY MAP I" = zoo'