HomeMy WebLinkAbout001 - 02/06/1996 - AUTHORIZING THE SALE TO RESOURCE ASSISTANCE CENTER FOR NONPROFITS INC. OF REAL PROPERTY KNOWN AS EAS ORDINANCE NO. 1, 1996
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE SALE TO THE RESOURCE ASSISTANCE CENTER
FOR NONPROFITS, INC., OF REAL PROPERTY KNOWN AS
THE EASTSIDE VENTURE PROPERTY
WHEREAS, since 1993 the City of Fort Collins has been the owner of the real property
which is legally described on Exhibit"A" attached hereto and incorporated herein by this reference
(`the Property"); and
WHEREAS,the Property is and has been located in the Heart Special Improvement District
No. 84 ("SID 84"); and
WHEREAS, in 1988 assessments were levied on the Property for the cost of construction of
improvements in SID 84; and
WHEREAS, in 1988 the owner of the Property failed to pay the assessments when due; and
WHEREAS, in accordance with Section 22-97 of the Code ofthe City of Fort-Collins, the-
Property was advertised and sold by the Larimer County Treasurer at the 1989 Tax Sale and Tax
certificates of purchase were issued to the City for the Property; and
WHEREAS, in 1993 the City obtained ownership of the Property by way of a deed-in-lieu
of foreclosure received from the owner of the Property; and
WHEREAS, Section 22-97(d) of the Code provides that, if the City is the owner of the
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 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 advertised the Property for sale; and
WHEREAS, in response thereto, the City has received an acceptable offer from The
Resource Assistance Center for Nonprofits, Inc. ("TRAC") in the amount of Ninety-five thousand
Dollars ($95,000) for the Property; 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 that it first finds the sale is in the best interest of
the City; and
WHEREAS,Section 22-97(h)of the Code describes the manner in which the proceeds of sale
of real properties shall be allocated when the property sold has been acquired as a result of
nonpayment of special improvement district assessments.
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 TRAC for the sum of NINETY-FIVE
THOUSAND DOLLARS ($95,000) 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 proceeds derived by the City from such sale shall be allocated
according to the provisions of Section 22-97(h) of the Code.
Section 3. That the Mayor be, and hereby is, authorized to execute such documents as
are necessary for the City to sell and convey the Property to TRAC for the total purchase price of
Ninety-five Thousand Dollars ($95,000) and upon such other terms and conditions as are
recommended by the City Manager.
Introduced, considered favorably on first reading, and ordered published this 16th day of
January, A.D. 1996, and to be presented for final passage on the 6th day of February, A.D. 1996.
Mayor y ( .
ATTEST:
City Clerk
Passed and adopted on final reading this 6th day of Feb 1�W.
Mayor
ATTEST:
City Clerk
EXHIBIT "A"
PARCEL I:
A tract of land situate in the NW 1/4 of the SW 1/4 of Section
36, Township 7 North, Range 69 West of the 6th P.M. , Fort Col-
lins, Larimer County, Colorado, which, considering the West line
of the said SW 1/4 as bearing due North and with all bearings
contained herein relative thereto, is contained within the bound-
ary lines which begin at the intersection of the South line of
the said NW 1/4 of the SW 1/4 and the East line of U.S. Highway
No. 287 which bears East 51.66 feet from the Southwest corner of
the NW 1/4 of the SW 1/4 and run thence North 00 degree 06' 45"
East 325.20 feet along said East line; thence East 730.59 feet;
thence North 19 degrees 46' 20" West 119.12 feet; thence North 23
degrees 14 ' West 144. 65 feet; thence North 18 degrees 30' West
91.00 feet; thence North 12 degrees 30' East 48.00 feet; thence
North 33 degrees 300 East 6.28 feet; thence South 22 degrees 30,
East 324 .48 feet; thence along the arc of a 833. 06 feet radius
curve to the left a distance of 392 . 57 feet, the long chord of
which bears South 36 degrees 00' East 388.95 feet; thence South
49 degrees 30' East 145.00 feet to a point on the South line of
the NW 1/4 of the said SW 1/4 ; thence West 1081.90 feet to the
Point of Beginning, less Fort Collins retail Center P.U.D. and
1-== that portion contained in- Reception No. 87023537.
PARCEL II:
A parcel of land located in the North half of the Southwest
Quarter of Section 36, Township 7 North, Range 69 West of the 6th
P.M. , City of Fort Collins, County of Larimer, State of Colorado,
being more particularly described as follows:
Consider the West line of the North Half of the Southwest Quarter
of said Section 36 as bearing, North 0 degree 04' 22" West, with
all bearings contained herein relative thereto:
Commencing at the Southwest corner of said Section 36, thence
along the West line of the South Half of the Southwest Quarter of
said Section 36, North 0 degree 04' 30" West, 1323.03 feet to the
Northwest corner of the Southwest Quarter of the Southwest
Quarter of said Section 36; thence along the North line of the
South Half of the Southwest Quarter of said Section 36, North 89
degrees 54' 52" East, 1121.11 feet to a point on the South line
of the J.F.K. Parkway according to the Heart Special Improvement
District recorded at Reception No. 86012669, records of said
County thenca along_ said West line,_ North 17 degrees 270 39"
West, 15.27 feet to a point on the West line of that certain par-
cel of land, described in Book 2218, Page 1378, said point being
the POINT OF BEGINNING; thence along said West line, North 49 de-
grees 30' 00" West, 122.60 feet to a point on a curve concave to
the Northeast having a central angle of 11 degrees 201 14", a
radius of 833 .06 feet and the chord of which bears North 43
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EXHIBIT "A"
degrees 491 53" West, 164.57 feet; thence along the arc of said '
curve, 164.84 feet; thence North 53 degrees 20' 18" East 146.27
feet to a point on the said West line of J.F.R. Parkway; thence
along said West line, South 17 degrees 271 39" East, 299.48 feet,
more or less to the Point of Beginning.
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