HomeMy WebLinkAbout040 - 05/04/1993 - AUTHORIZING THE SALE OF PORTION OF TRACT D OF FAIRBROOKE PUD (BROWN FARMHOUSE SINGLE FAMILY RESIDENC ORDINANCE NO. 40, 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
(BROWN FARMHOUSE SINGLE-FAMILY RESIDENCE)
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, including the Fairbrooke PUD, 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 of assessments, which was due in October of 1987; and
WHEREAS, in accordance with Section 22-97 of the Code of the City of Fort
Collins, Tract D 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 a bid from Bradley D. Pace
in the amount of Forty Thousand and Fifty Dollars ($40,050) for that portion of
Tract D which is generally described on Exhibit "A, " attached hereto and
incorporated herein by this reference, and which is known as the restored Brown
Farmhouse Single-family Residence ("the Property") ; and
WHEREAS, Section 22-97(e) of the Code describes the manner in which the
proceeds from the 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, after receiving input from neighboring property owners with regard
to this proposed property sale, the Council believes it would be in the best
interests of the City to sell the property to Bradley D. Pace for the foregoing
amount upon certain terms and conditions; and
WHEREAS, Mr. Pace has expressed his willingness to accept such terms and
conditions.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1. That the sale of the Property to Bradley D. Pace for the sum
of Forty Thousand and Fifty Dollars (b40,050) is in the best interests of the
City and that said amount is the best price obtainable by the City for the
Property and represents the fair market value thereof.
Section 2. That the sale of the Property to Bradley D. Pace for said
amount is hereby authorized on the condition that the City's deed conveying the
Property to Mr. Pace contain the following restrictions that shall run with the
land:
(a) that Mr. Pace, or his assigns, shall promptly submit to the City
after acquiring title to the Property, and thereafter diligently
pursue approval of, an application pursuant to Chapter 14 of the
City Code to designate the Property and improvements located thereon
as a "landmark" ;
(b) that promptly after acquiring title to the Property, Mr. Pace, or
his assigns, shall diligently proceed to restore the Property and
its improvements to their historic condition and complete such
restoration within two (2) years from the date the Property is
conveyed to Mr. Pace; and
(c) that Mr. Pace, and his assigns, shall be prohibited from keeping on
the Property any farm animals and livestock including, but not
limited to, cattle, horses, pigs, chickens, sheep, and goats.
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.
2
Introduced, considered favorably on first reading, and ordered published
this 20th day of April , A.D. 1993, and to be presented for nail passage e
4th day of May, A.D. 1993. %
M&Kr
ATTEST:
21
City Clerk
Passed and adopted on final reading this 4th day 4ay, D.
ATTEST:
City Clerk
3
Exhibit A
DESCRIPTION OF THE EXISTING HOUSE PORTION 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 South 88
degrees 46 minutes 03 seconds East, 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 east line of the said Tract D, South 01
degrees 13 minutes 57 seconds West for a distance of 217 .00 feet to
the TRUE POINT OF BEGINNING of this description;
THENCE continuing along the said east line, South 01 degrees
13 minutes 57 seconds West for a distance of 269.87 feet;
THENCE along the southeasterly line of the said Tract D, South
60 degrees 13 minutes 57 seconds West for a distance of 365. 30 feet
to the northeasterly right of way of Cedarwood Drive as shown on
the said plat;
THENCE along the said northeasterly right of way, North 29
degrees 30 minutes 20 seconds West .for a distance of 43. 16 feet;
THENCE continuing along the said northeasterly right of way,
along a curve to the left having a radius of 427 . 00 feet, a central
angle of 00 degrees 55 minutes 04 seconds and an arc length of 6. 84
feet, being subtended by a chord of North 29 degrees 57 minutes 52
seconds West for a distance of 6. 84 feet;
THENCE leaving the said right of way, non-tangent from the
said curve, North 60 degrees 13 minutes 57 seconds East for a
distance of 138. 51 feet;
THENCE North 01 degrees 13 minutes 57 seconds East for a
distance of 343 .73 feet to the southerly line of that certain tract
of land to be deeded to the Poudre School District;
THENCE along the said southerly line, South 88 degrees 46
minutes 03 seconds East for a distance of 220. 00 feet to the point
of beginning. Containing 80090 square feet or 1.839 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 Jwgey.
WALLACE C. MUSCOTT COLORADO P.L.S. 17497 ����E� Rf
P.O. BOX 580 FORT COLLINS, CO 80522JAR
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