The URL can be used to link to this page

Home My WebLink About030 - 05/04/1993 - AUTHORIZING THE SALE OF A PORTION OF TRACT D OF FAIRBROOKE PUD (RESIDENTIAL DEVELOPMENT PROPERTY) ORDINANCE NO. 30, 1993 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE SALE OF REAL PROPERTY DESCRIBED AS A PORTION OF TRACT D OF FAIRBROOKE PUD (RESIDENTIAL DEVELOPMENT PROPERTY) WHEREAS, on October 18, 1983, the Council of the City of Fort Collins (the "Council ") authorized the creation of the Fairbrooke Special Improvement District #79 (the "District") for the purpose of installing street, water, and wastewater improvements within the District; and WHEREAS, on March 4, 1986, assessments were levied on property in the District for the cost of construction of the improvements; and WHEREAS, the owner of Tract D of Fairbrooke PUD ("Tract D") failed to pay the first installment due in October of 1987; and WHEREAS, in accordance with Sect. 22-97 of the Code of the City of Fort Collins, Tract D of Fairbrooke PUD was advertised and sold by the Larimer County Treasurer at the 1988 tax sale and certificates of purchase were issued to the City; and WHEREAS, the City subsequently obtained a Treasurer's Deed to Tract D; and WHEREAS, Section 22-97(d) of the Code provides that, if the City is the owner of property acquired in satisfaction or discharge of liens represented by certificates of purchase, it may sell such property for the best price obtainable at public sale or auction or by sealed bids or by such other method of sale which may be approved by the City Council ; and WHEREAS, on May 19, 1992, the Council adopted a Sales Policy for Property Acquired Through or in Lieu of Special Assessment Lien Foreclosure Process ("the Policy") ; and WHEREAS, pursuant to the Policy, the City has issued a request for bids seeking buyers for all or any portion of Fairbrooke PUD; and WHEREAS, in response thereto, the City received three bids for that portion of Tract D which is shown on Exhibit "A, " attached hereto and incorporated herein by this reference, and which is hereinafter referred to as the "Residential Development Property or the "Property" ; and WHEREAS, the highest bid received by the City for the Residential Development Property was submitted by Linder Real Estate and Development Co. ("Linder") in the amount of Eighteen Thousand Three Hundred Sixty-one Dollars per acre ($18,361/acre) ; and WHEREAS, Section 22-97(e) of the Code describes the manner in which the proceeds of sale of real properties should be allocated when the Property sold has been acquired through the foreclosure of a special assessment lien; and WHEREAS, under Section 23-111(a) of the Code, the Council is authorized to sell real Property owned in the name of the City, provided it first finds the sale is in the best interest of the City; and WHEREAS, as a term and condition of the sale of the Residential Development Property to Linder, it may be necessary in the public interest to reserve to the City certain easements through said property to the school playground to be constructed by the Poudre School District R-1 on the adjacent real property located northeast of the Property, and also to reserve an easement on the Property to construct and maintain said pedestrian and bicycle path on the permanent access easement. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1 . That the sale of the Residential Development Property to Linder Real Estate and Development Co. for the sum of Eighteen Thousand Three Hundred Sixty-one Dollars per acre ($18,361/acre) is in the best interests of the City and that said amount is the best price obtainable by the City for said property and represents the fair market value thereof. Section 2. That the sale of the Residential Development Property to Linder is hereby authorized , provided that the City shall have the right to reserve the following easements on and across the Property: 1) a permanent easement for pedestrian and bicycle access from the primary street to be constructed adjacent to the Property, to the school playground to be constructed by the Poudre School District R-1 on the adjacent real property located northeast of the Property, and 2) any easements on the Property needed to construct and maintain the said pedestrian and bicycle path on the permanent access easement. Section 3. That the proceeds derived by the City from such sale shall be allocated according to the provisions of Section 22-97(e) of the Code. 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 20th day of April , A.D. 1993, and to be present -)for final passage on the 4th day of May, A.D. 1993. j Mayor ATTEST: City Clerk Passed and adopted on final reading this 4th of May, A.D 93. Ma ATTEST: City Clerk Exhibit A DESCRIPTION OF THE REMAINDER OF TRACT D FAIRBROOKE SID A tract of land located in the north one half of Section 21 Township 7 North, Range 69 West of the Sixth Principal Meridian, City of Fort Collins, Larimer County, Colorado, the said tract is also a portion of Tract D of Fairbrooke SID a Plat of record with the Clerk and Recorder of the said Larimer County more particularly described as follows; Considering the north line of the said Tract D as bearing North 88 degrees 46 minutes 03 seconds West, as shown on the said plat, and with all bearings contained herein relative thereto; Commencing at the northeast corner of the said Tract D, the said northeast corner is on the existing 50. 00 feet wide southerly right of way of West Prospect Road; THENCE along the said north line of the said Tract D, North 88 degrees 46 minutes 03 seconds West for a distance of 456. 18 feet to the westerly line of that certain tract of land to be deeded to the Poudre School District and to the TRUE POINT OF BEGINNING of this description; THENCE continuing along the said north line, North 88 degrees 46 minutes 03 seconds West for a distance of 344. 52 feet; THENCE continuing along the said north line, along a curve to the left having a radius of 20.00 feet, a central angle of 90 degrees 00 minutes 01 seconds and an arc length of 31.42 feet, being subtended by a chord of South 46 degrees 13 minutes 56 seconds West for a distance of 28 . 28 feet to the easterly right of way of Cedarwood Drive as shown on the said Plat; THENCE along the said easterly right of way the following four (4) courses and distances, (1) South 01 degrees 13 minutes 56 seconds West for a distance of 80. 00 feet; (2) along a curve to the left having a radius of 213 . 00 feet, a central angle of 50 degrees 00 minutes 00 seconds and an arc length of 185.88 feet, being subtended by a chord of South 23 degrees 46 minutes 04 seconds East for a distance of 180.04 feet; (3) South 48 degrees 46 minutes 04 seconds East for a distance of 413 .66 feet; (4) along a curve to the right having a radius of 427.00 feet, a central angle of 18 degrees 20 minutes 40 seconds and an arc length of 136.71 feet, being subtended by a chord of South 39 degrees 35 minutes 44 seconds East for a distance of 136. 13 feet to the westerly line of that certain tract of land to be deeded to Brad Pace; THENCE leaving the said easterly right of way and along the said westerly line, North 60 degrees 13 minutes 57 seconds East for a distance of 138.51 feet; THENCE continuing along the said westerly line, North 01 degrees 13 minutes 57 seconds East for a distance of 343.73 feet to the southerly line of the said tract to be deeded to the Poudre School District; THENCE along the said southerly line, North 65 degrees 25 minutes 05 seconds West for a distance of 199. 32 feet; THENCE continuing along the said southerly line, North 40 degrees 56 minutes 16 seconds West for a distance of 79. 22 feet to the said westerly line of the tract to be deeded to the Poudre School District; THENCE along the said westerly line, North 01 degrees 13 minutes 57 seconds East for a distance of 79.29 feet to the point of beginning. Containing 5. 174 acres. The above described tract is subject to all easements and rights of ways now existing or of record. I hereby state that the above description was prepared by me and is true and correct to the best of my professional knowledge, belief and opinion. The description and areas are based upon previously recorded plats and deeds and not upon a actual field survey. WALLACE C. MUSCOTT COLORADO P. L.S. 17497 P.O. BOX 580 FORT COLLINS, CO 80522 l V. Q, LA� U °'y� a avo �nP .