HomeMy WebLinkAbout124 - 09/19/2000 - APPROPRIATING UNANTICIPATED REVENUE IN THE 1/4 CENT NATURAL AREAS CAPITAL PROJECTS FUND FOR REIMBURS ORDINANCE NO. 124, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE
1/4 CENT NATURAL AREAS CAPITAL PROJECTS FUND
FOR REIMBURSEMENT TOWARD THE PURCHASE PRICE
OF THE COYOTE RIDGE NATURAL AREA
WHEREAS, the City of Fort Collins has collaborated with the City of Loveland and
Larimer County on several land conservation projects to implement the jointly adopted Plan for
the Region Between Fort Collins and Loveland; and
WHEREAS, one of the most significant projects has been the protection of the 841-acre
area of land now known as the Coyote Ridge Natural Area, which was acquired in three separate
parcels by the City of Fort Collins and Larimer County; and
WHEREAS, Tract A was acquired by the City of Fort Collins in 1994 for the amount of
$924,000, which represented the fair market value of Tract A; and
WHEREAS, Tract B was acquired by the City of Fort Collins in 1995 for the amount of
$661,500, which represented the fair market value of Tract B; and
WHEREAS, Tract C is an 84-acre parcel that was acquired by Larimer County in 1997
for the total amount of $278,500, which represented the fair market value of Tract C, with
assistance of the City in the amount of $185,675.95, in exchange for the conveyance to the City
of a 66.67% interest therein; and
WHEREAS, the aforementioned Tracts A and B were acquired by the City using funding
from the dedicated 0.25 cent Sales and Use Tax for financing the acquisition and development of
open space, trails and natural areas; and
WHEREAS, the City Council is concurrently considering Ordinance No. 123, 2000,
which when adopted on second reading on September 19, 2000, will authorize the City to enter
into an intergovernmental agreement with Larimer County regarding the management of the
Coyote Ridge Natural Area and authorizing the City to quit claim an undivided 28.09% interest
in Tract A and Tract B to the County in exchange for $430,750, and an additional 5.24% interest
in Tract C to be conveyed to the City; and
WHEREAS, the receipt of funds from the County will be appropriated in the 1/4 Cent
Natural Areas capital project where said appropriations will be available for the acquisition and
development of open space, trails, and natural areas as identified in the Natural Areas Policy
Plan and City Plan; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins permits the
City Council to make supplemental appropriations by ordinance at any time during the fiscal
year, provided that the total amount of such supplemental appropriations, in combination with all
previous appropriations for that fiscal year, does not exceed the then current estimate of actual
and anticipated revenues to be received during the fiscal year.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in
the Capital Projects Natural Areas capital project, the sum of FOUR HUNDRED THIRTY
THOUSAND SEVEN HUNDRED AND FIFTY DOLLARS ($430,750), upon receipt from
Larimer County to be used for the acquisition and development of open space, trails, and natural
areas.
Introduced and considered favorably on first reading and ordered published this 5th day
of September, A.D. 2000, and to be presented for final passage on the day of September,
A.D. 2000.
ayor
ATTEST:
- JOWL& ��kh i
City Clerk
Passed and adopted on final reading this 19th day of September, A.D. 2000.
Mayor p•r.T,,j
ATTEST:
- 14�- XL & Q
City Clerk