HomeMy WebLinkAbout089 - 08/17/1993 - AUTHORIZING THE LONG TERM LEASE AT THE FORT COLLINS-LOVELAND AIRPORT FOR THE CONSTRUCTION AND SUBLEA ORDINANCE NO. 89, 1993
AUTHORIZING THE LONG-TERM LEASE OF PROPERTY AT THE
FORT COLLINS/LOVELAND MUNICIPAL AIRPORT
FOR THE CONSTRUCTION AND SUBLEASE OF A TEN UNIT T-HANGAR
WHEREAS, the Cities of Loveland and Fort Collins ("the Cities") jointly own
and operate the Fort Collins/Loveland Municipal Airport ("the Airport") ; and
WHEREAS, the Cities have set aside and developed a portion of the Airport
property for lease to parties desiring to conduct aeronautical and support
activities at the Airport; and
WHEREAS, the FNL Hangar Association, Inc. has indicated a desire to lease
a portion of the Airport property for the construction, maintenance, and sublease
of a ten unit T-hangar.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
COLLINS, COLORADO:
Section 1. That the Mayor and City Clerk are hereby authorized to enter
into a long-term lease with FNL Hangar Association, Inc. for certain property,
described on the attached Exhibf"t "A" and located at said Airport, a copy of
which lease is on file with the City Clerk of the City of Fort Collins, Colorado.
Section 2. That said long-term lease shall include the following
conditions:
(a) that the term of the lease shall be twenty-five (25) years with
three (3) , five (5) year extension options;
(b) that the lease will generatea maximum of One Thousand and Eighty
Five ($1,085) in land rents annually for the first five (5) years,
and that upon commencement of the sixth year, and every fifth year
thereafter, throughout the term of the lease, the rent will increase
(using an equation based on the rate of inflation as established in
the Consumer Price Index) ;
(c) that one percent (1%) of all rents collected for the use of the
hangar on the leased property shall be paid to the Airport; and
(d) that all improvements constructed on the leased property will revert
to the ownership of the Cities upon expiration of the lease.
Introduced, considered favorably on first reading, and o dered published
this 3rd day of August, A.D. 1993, and to be presented for nal passage
17th day of August, A.D. 1993.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 17th day of st, A.D 3.
or
AT EST:
City Clerk
FREDERICK LA D SURVEYING
1528 N. Lincoln
Loveland, Co. 80538
�FLS,) (303) 669-3652
June 22 , 1993
Project No: 93-06-710
EXHIBIT "A"
1 OF 2
LAND DESCRIPTION: PROPOSED HANGAR SITE
All that portion of the northeast one-quarter of Section 33 ,
Township 6 North , Range 68 West , of the 6th P .M. , Larimer County ,
Colorado , more particularly described as follows :
Considering the east line of ' said northeast one-quarter of Section
33 as bearing SOUTH 000 31 ' 15" EAST and with all bearings
contained herein relative thereto.
Commencing at the northeast corner of said Section 33 ; THENCE
along said east line of the northeast one-quarter of Section 33
SOUTH 000 31 ' 15" EAST 760 .93 feet ; THENCE leaving said east line
SOUTH 890 28 ' 45" WEST 906 . 30 feet to the TRUE POINT OF BEGINNING;
THENCE SOUTH 700 00 ' 58" WEST 48 .00 feet ; THENCE NORTH 190 59 ' 02"
WEST 226 . 00 feet ; THENCE NORTH 700 00 ' 58" EAST 48 . 00 feet ; THENCE
SOUTH 190 59 ' 02" EAST 225 .00 feet to the TRUE POINT OF
BEGINNING.
Said portion contains 10, 848 square feet , more or less .