Loading...
HomeMy WebLinkAbout044 - 03/04/1997 - AUTHORIZING SALE OF JOHNSON III SID PROPERTY TO TROUTMAN OFFIC PARK ASSOCIATES, LLC ORDINANCE NO. 44, 1997 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE SALE OF REAL PROPERTY KNOWN AS THE JOHNSON III SID PROPERTY TO TROUTMAN OFFICE PARK ASSOCIATES, L.L.C. WHEREAS, in 1984,the Council authorized the creation of the Heart Special Improvement District No. 84 ("the Heart SID") for the purpose of acquiring, constructing, and installing street, water, sanitary sewer, storm drainage and irrigation ditch improvements within the Heart SID; and WHEREAS,located within the Heart SID is approximately .6735 acres of land known as the Johnson III Property which is located at the Northeast corner of JFK Parkway and Troutman Parkway and which is legally described on Exhibit "A" attached hereto and incorporated herein by this reference ("the Property"); and WHEREAS,the owner of the Property failed to pay the Special Improvement Assessments due on the Property; and WHEREAS, in accordance with Section 22-97 of the Code of the City of Fort Collins, the Property was advertised and sold by the Larimer County Treasurer at the 1989 tax sale and a tax certificate of purchase was issued to the City; and WHEREAS, the City subsequently obtained a Treasurer's Deed to the Property; 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, there is currently located on the Property a ditch easement which significantly reduces the value of the Property and, in fact, an appraisal conducted on the Property by the City in 1992 confirmed that the Property has little or no value; and WHEREAS,the City has received an offer from Troutman Office Park Associates, L.L.C., ("TOPA")to purchase the Property for a total purchase price of$1,000; and WHEREAS, the City and TOPA have entered into an Agreement of Purchase and Sale of Real Property dated January 28, 1997 ("the Agreement") setting forth TOPA's offer to purchase the Property for the total purchase price of$1,000, with the purchase contingent upon the Council approving the Agreement by an ordinance adopted by Council on second reading on or before March 4, 1997; 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 would normally offer the Property for sale through a competitive process; and whereas, in this case, due to the unique nature of this Property and its insignificant value, the Council has determined that following the Policy is not in the best interest of the City; 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,Section 22-97(e)of the Code describes the manner in which the proceeds of sale of real properties should be allocated when real property acquired through the foreclosure of a special assessment lien is sold. NOW,THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That selling the Property pursuant to the Policy using a competitive process is not in the best interest of the City in this case due to the unique nature of the Property and its insignificant value. Section 2. That the sale of the Property to TOPA pursuant to the terms of the Agreement is in the best interest of the City. Section 3. That the Agreement is hereby approved. Section 4. That the proceeds derived by the City from the sale of the Property under the Agreement shall be allocated according to the provisions of Section 22-97(e) of the Code. Section 5. That the Mayor be, and hereby is, authorized to execute such instruments of conveyance and other documents as are necessary for the City to sell and convey the Property to TOPA pursuant to the terms and conditions of the Agreement. Section 6. That the City Manager be,and hereby is,authorized to execute future addenda to the Agreement to extend the closing date under the Agreement if such extension is, in the judgment of the City Manager, reasonably necessary to accomplish the sale of the Property. Introduced and considered favorably on first reading and ordered published this 18th day of February, A.D. 1997, and to be presented for final passage on lhe-4ih day of M ,-A.D. 1997. ayor ATTEST: City Clerk Passed and adopted on final reading this 4th day of Marsh, A.D. 1997. 1 c ATTEST: City Clerk EXHIBIT "A" DESCRIPTION: A tract of land located in the West half of Section 36, Township 7 North, Range 69 West of the 6th P.M. of Larimer County, Colorado, being more particularly described as follows: Considering the West line of the Southwest quarter of said Section 36 as bearing South 00°01'16" East and with all bearings contained herein relative thereto: Commencing at the West quarter corner of said Section 36; thence along the said West line, South 0000I'16" East 1323.01 feet to the South line,North half, said Southwest quarter; thence along said South line,North half, Southwest quarter,North 89058'32" East 1323.72 feet to the West boundary of the plat of Somerset P.U.D., a plat of record with the Clerk and Recorder of said Larimer County; thence along the said West boundary,North 00°03'43" West 737.25 feet to the North right-of-way of Troutman Parkway as dedicated at Reception No. 86012669 records of the said Clerk and Recorder and to the TRUE POINT OF BEGINNING of this description; thence continuing along the said West boundary,North 00003'43" West 40.19 feet to the South line of that certain tract of land as described in Book 1369 at Page 157 records of the said Clerk and Recorder;thence along the said South line,North 85022136" West, 351.11 feet to the East right-of-way of J.F.K. Parkway, as dedicated at the said Reception No. 86012669; thence along the said East right-of-way South 17°25'51" East, 124.45 feet; thence 29.67 feet along the arc of a curve concave to the Northeast having a central angle of 85000'00", a radius of 20.00 feet, and a chord which bears South 59°55'51" East, 27.02 feet to the said North right-of-way of Troutman Parkway;thence along said North right- of-way North 77°34'09" East, 296.29 feet to the TRUE POINT OF BEGINNING. The above described tract contains 29336 square feet or 0.6735 acres and is subject to all easements and rights-of-way now in use or on record.