HomeMy WebLinkAbout053 - 04/21/1998 - AUTHORIZING THE GRANT OF AN OPTION TO LEASE 132 TROUTMAN PARKWAY THROUGH MAY 31, 2000, TO THE SALVAT ORDINANCE NO. 53, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE GRANT OF AN OPTION TO LEASE
132 TROUTMAN PARKWAY THROUGH MAY 31, 2000,
TO THE SALVATION ARMY
WHEREAS, the City of Fort Collins currently leases 132 Troutman Parkway, more
particularly described in Exhibit"A,"attached hereto and incorporated herein by this reference (the
"Property"), for use as a Mini Library Facility, under a Lease Agreement dated January 30, 1995
(the "Lease Agreement'); and
WHEREAS,the City has no use for the Property, as it no longer operates the Mini Library
Facility,having opened in early 1998 the Harmony Library, to which the Mini Library books, staff
and equipment have been relocated; and
WHEREAS, in the Lease Agreement the City agreed to continue to lease the Property
through May, 2000, or pay a cancellation penalty of up to Forty-seven Thousand, Two Hundred and
Forty-five Dollars ($47,245); and
WHEREAS, City staff has worked with a local real estate brokerage to search for and
negotiate with potential subtenants for the Property, in order to reduce the costs to the City
associated with the lease of the Property; and
WHEREAS,the Salvation Army has proposed to sublease the Property as approved by the
Council in Resolution 98-59; and
WHEREAS, the Salvation Army has requested that the City grant of an Option to Lease to
the Salvation Army,under which the Salvation Army would pay to the City a monthly rent payment
of Four Thousand Dollars ($4,000), along with any amount due for related common areas
maintenance,through May 31, 2000, if it chooses to exercise such Option at least ninety (90) days
prior to the expiration of the original sublease term on September 30, 1998; and
WHEREAS,the rental payment to be received by the City should the Salvation Army choose
to exercise the Option to Lease would substantially offset the amount due from the City under the
Lease Agreement; and
WHEREAS, City staff has determined that the proposed sublease of the Property and grant
of the associated Option to Lease will be beneficial to the City, and represents the best likely
opportunity for the City to sublease the Property through the expiration of the Lease Agreement; and
WHEREAS, Section 23-111 of the City Code provides that the City Council is authorized
to sell, convey or otherwise dispose of real property owned by the City, provided the Council first
finds by ordinance that any sale or disposition of real property owned by the City is in the best
interests of the City of Fort Collins.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, as follows:
Section 1. That the grant of the above-described Option To Lease the Property is in the best
interests of the City of Fort Collins.
Section 2. That the City Manager is authored to grant to the Salvation Army an Option to
Lease the Property through May 31, 2000, and to execute such documents as may be necessary and
appropriate for such grant.
Introduced, considered favorably on First Reading, and ordered published this 7th day of
April, A.D. 1998, and to be presented for final passage on the 21 da of April, 98.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 21st day of
Mayor
ATTEST:
City Clerk '.
EXHIBIT "A"
A tract of land located in the Southeast Quarter of Section 35,
Township 7 North, Range 69 West of the Sixth Principal Meridian,
City of Fort Collins, Larimer County, Colorado, more particularly
described as follows;
Considering the north line of the said Southeast quarter of Section
35 as bearing North 89 degrees 47 minutes 04 seconds West, and with
all bearings contained herein relative thereto:
Commencing at the northeast corner of the said Southeast Quarter;
THENCE along the said north line, North 89 degrees 47 minutes
04 seconds West for a distance of 48 . 00 feet to a point on the
Westerly right of way of U.S. Highway No. 287;
THENCE along the said Westerly right of way, South 00 degrees
37 minutes 52 seconds East for a distance of 145. 00 feet;
THENCE continuing along the said Westerly right of way, South
00 degrees 13 minutes 08 seconds West for a distance of 270.00
feet;
THENCE North 89 degrees 47 minutes 04 seconds West for a
distance of 338 . 01 feet;
THENCE South 00 degrees 13 minutes 08 seconds West for a
distance of 220. 01 feet;
THENCE North 89 degrees 46 minutes 52 seconds West for a
distance of 59.29 feet to the TRUE POINT OF BEGINNING of this
description;
THENCE North 89 degrees 46 minutes 52 seconds West for a
distance of 85. 71 feet;
THENCE South 00 degrees 13 minutes 08 seconds West for a
distance of 60.73 feet;
THENCE South 89 degrees 46 minutes 52 seconds East for a
distance of 85.71 feet;
THENCE North 00 degrees 13 minutes 08 seconds East for a
distance of 60. 73 feet to the point of beginning. Containing 5205
square feet more or less.
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 area are based upon a previously
written legal description and not upon a actual field survey.
WALLACE C. MUSCOTT COLORADO P.L.S. 17497
P.O. BOX 580 FORT CO
COLLINS, Arc CRA./