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HomeMy WebLinkAbout150 - 12/05/1995 - AUTHORIZING THE PURCHASE OF 500 RIVERSIDE FOR USE AS OPEN SPACE AND AS A WASTEWATER TREATMENT BUFFER ORDINANCE NO. 150, 1995 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE PURCHASE OF 500 RIVERSIDE FOR USE AS OPEN SPACE AND AS A WASTEWATER PLANT BUFFER, AND APPROVING A FIVE-YEAR LEASE OF THE PROPERTY WHEREAS, the Poudre River Land Use Framework was adopted by the Council as Resolution 95-64 on May 16, 1995; and WHEREA&, the-Poudre River Land UseFramework identified-as-one-of four-key parcels- appropriate for City acquisition the approximately four (4) acre parcel located at 500 Riverside Avenue and known as the Pickle Plant site (the "Property"), more particularly described in Exhibit A, attached hereto and incorporated herein by this reference; and WHEREAS, that Framework identified as the general purposes to be advanced by the acquisition of the Property the prevention of marginal industrial or commercial redevelopment, restoration of streambank, habitat and natural resource values, provision of buffer space for the Mulberry Water Reclamation Plant (Wastewater Treatment Plant #1) and development of a City "gateway";-and_ WHEREAS, the acquisition of the Property is also intended to prevent further commercial development in the Property's locale, and to instead provide for incorporation of the Property into the Poudre River Corridor Use System; and WHEREAS,Dean Pickle and Specialty Foods Company("Dean Pickle") is the owner of the Property, and has agreed to sell the Property to the City for Two hundred and Ninety Thousand Four Hundred Twenty-four Dollars ($290,424); and WHEREAS,the City and Dean Pickle have entered into an Agreement of Purchase and Sale of Real Property dated November 13, 1995 (the "Agreement"), contingent upon Council approval, whereby the City would purchase the Property from Dean Pickle for$290,424; and WHEREAS,the purchase of the Property will help the City meet the objectives of the City's Poudre River Land Use Framework; and WHEREAS, currently existing on the Property is a warehouse building that has been in use since 1993 as a furniture warehouse under the terms of a lease agreement between the owner of the Property and Larrabee's Home Furnishing Center("Larrabee's"); and WHEREAS, restoration of the Property to enhance natural resource values and potential development of"gateway" features on the Property are not planned to occur for several years; and WHEREAS,until such restorative activities occur on the Property,the continued lease of the warehouse building on the Property will provide a source of revenue to the City, and will partially offset the cost to the City of purchasing the Property; and WHEREAS, the City and Larrabee's have negotiated and executed a contingent Lease Agreement (the "Lease") whereby Larrabee's will continue to use the warehouse building on the Property for furniture storage for a period of five (5) years, and will in exchange pay to Dean Pickle on behalf of the City Seventy Thousand Dollars ($70,000) at the time the City purchases the Property; and WHEREAS, under Section 23-111(a) of the Code, the Council is authorized to convey a leasehold interest in real property owned by the City provided that the Council first finds, by ordinance, that such sale or other disposition is in the best interests of the City; and WHEREAS, the lease of the Property will help the City to purchase the Property, and will provide for efficient use of the Property until such time as the City may proceed to restore and develop the Property; and WHEREAS, the City's Parks and Recreation Board, Water Board, and Natural Resources Board have all considered and approved the purchase of the Property; and WHEREAS, the Agreement and the Lease are each contingent upon the Council approving them by or before December 31, 1995; and WHEREAS, funds for the purchase of the Property are available from Conservation Trust Fund Reserves, Wastewater Utility Capital Reserves, and the proceeds of the Lease, which funds may be appropriated by the Council upon approval of Ordinance No. 151, 1995, which is before the Council simultaneous with this Ordinance. NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the purchase of the Property pursuant to the terms of the Agreement is in the best interests of the City. Section 2. That the Agreement and purchase of the Property pursuant thereto are hereby approved. Section 3. That the conveyance of a leasehold interest in the Property pursuant to the terms of the Lease is in the best interests of the City. Section 4. That the Lease and conveyance of a leasehold interest in the Property pursuant thereto are hereby approved. Section 5. That the City Manager be, and hereby is, authorized to execute such documents as are necessary for the City to purchase the Property and convey a leasehold interest in the Property, pursuant to the terms and conditions of the Agreement and the Lease. Section 6. That the City Manager be,and hereby is,authorized to execute future addenda to the Agreement and the Lease to extend the closing dates thereof, if such extension is, in the judgment of the City Manager, reasonably necessary to accomplish the C;ity's purchase of the Property and to accomplish the City's conveyance of a leasehold interest in the Property to Larrabee's. Introduced, considered favorably on first reading, and ordered published this 21st f November,A.D. 1995, and to be presented for final passage on t day of Decembe D. 19 Mayor ATTEST: City Clerk Passed and adopted on final reading this 5th day of Dece r, A. . 1995. Mayor ATTEST: City Clerk