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HomeMy WebLinkAbout020 - 03/01/1994 - AUTHORIZING A DEED OF CONVEYANCE FOR THE SALE OF A 2.64 ACRE PARCEL AT THE SOUTHWEST CORNER OF EAST_ .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ORDINANCE NO. 20, 1994 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE MAYOR TO EXECUTE A DEED OF CONVEYANCE FOR THE SALE OF A 2.64 ACRE PARCEL AT THE SOUTHWEST CORNER OF EAST WILLOX LANE AND REDWOOD STREET FOR $51,750 WHEREAS, the City's Light and Power Department purchased a 2.64 acre site at the southwest corner of East Willox Lane and Redwood Street in the City of Fort Collins ("the Property") in 1976 for a proposed substation for the amount of $22,000; and WHEREAS, since that time, the Utility's Master Plan has been revised, and the construction of the Linden Tech Station in 1989 has alleviated the need for a substation on the Property; and WHEREAS, the Light and Power Department no longer has any use for the Property; and WHEREAS, the Property has been offered to other City departments and the Housing Authority, and none has expressed an interest in utilizing or acquiring the Property; and WHEREAS, the City has offered the Property for sale to the public and received an offer to purchase the Property for the amount of $51,750, which is the best offer received by the City for the Property; and WHEREAS, the foregoing offer equals the estimated fair market value of the Property; and WHEREAS, Section 23-111 of the City Code authorizes the City Council to sell interests in real property owned in the name of 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, Section 23-111 of the City Code also requires that, with respect to real property which is a part of the City's water or utility systems, the Council must find that the disposition will not materially impair the viability of the particular utility system as a whole and that it will be for the benefit of the citizens of the City. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the sale of the 2.64 acre parcel located at the southwest corner of East Willox Lane and Redwood Street in the City of Fort Collins, more particularly described on attached Exhibit "A," which is incorporated herein by this reference ("the Property"), for the sum of Fifty-One Thousand Seven Hundred Fifty Dollars ($51,750) is in the best interests of the City, and that the foregoing sales price represents the fair market value of the Property. Section 2. That the sale of the Property will not materially impair the viability of the City's Light and Power utility system as a whole, and it will be in the best interests of the City and for the benefit of the citizens of the City. Section 3. That the proceeds derived by the City from the sale of the Property shall be allocated to the Light and Power Fund. Section 4. That the Mayor be, and hereby is, authorized to execute such agreements of sale and documents of conveyance as are necessary for the City to sell and convey the Property on the terms and conditions described above. Introduced, considered favorably on first reading, and ordered published this 15th day of February, A.D. 1994, and to be pres for final passage on the 1st day of March, A.D. 1994. ayor ATTEST: City Clerk Passed and adopted on final re::;or th' st ay of ch, .D. 19 d94. -01 ATTEST: City Clerk ' EXHIBIT "A" A tract of land located in the Northwest One Quarter of Section 1, Township 7 North, Range 69 West of the 6th P.M. , in the City of Fort Collins, County of Larimer, and the State of Colorado, more particularly described as follows: Beginning at the Northeast corner of said Northwest quarter of said Section 1; Thence N 89 degrees 56 minutes 14 seconds W 40.00 feet; Thence S 00 degrees 00 minutes 23 seconds E 94.98 feet to the True Point of Beginning; Thence S 00 degrees 00 minutes 23 seconds E 344.75 feet; Thence N 89 degrees 56 minutes 14 seconds W 272.00 feet; Thence N 44 degrees 56 minutes 14 seconds W 109.03 feet; Thence N 00 degrees 00 minutes 23 seconds W 232.16 feet to a point on a circular curve: Thence along the arc of a curve to the left, whose central angle is 15 degrees 02 minutes 40 seconds and whose radius is 690.00 feet and' whose chord bears N 79 degrees 35 minutes 06 seconds E 180.66 feet; a distance of 181.18 feet to a point of reverse curvature; thence along the arch of a curve to the right whose central angle is 18 degrees 00 minutes 00 seconds, and whose radius is 360.00 feet, a distance of 113.10 feet to a point of tangency: Thence S 89 degrees 56 minutes 14 seconds E 45.07 feet to a point of curvature: Thence along the arc of a curve to the right whose central angle is 89 degrees 55 minutes 51 seconds, and whose radius is 15.00 feet, a distance of 23.54 feet to a point of tangency, said point of tangency also being the True Point of Beginning. Said parcel contains 2.64 acres, more or less.