HomeMy WebLinkAbout109 - 11/02/1993 - APPROPRIATING FUNDS AND AUTHORIZING THE PURCHASE OF DOWNTOWN PROPERTIES OWNED BY TRILLIUM CORPORATIO ORDINANCE NO. 109, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING FUNDS AND AUTHORIZING THE
PURCHASE OF CERTAIN DOWNTOWN PROPERTIES
OWNED BY TRILLIUM CORPORATION
WHEREAS, Trillium Corporation owns real property located in the downtown
Fort Collins area which is identified on the attached Exhibit "A" ("the
Property") ; and
WHEREAS, Trillium Corporation has offered to sell the Property to the City
for the amount of Four Hundred Seventy-five Thousand Dollars ($475,000) ; and
WHEREAS, the Property is needed to provide parking space for the downtown
business district; and
WHEREAS, Council believes that the acquisition of the Property is in the
best interests of the City; and
WHEREAS, on February 16, 1993, Council adopted Ordinance No. 13, 1993,
which appropriated Three Hundred Sixty-two Thousand Dollars ($362,000) for
acquisition of the Laporte-America Lot, which constitutes a portion of the
Property; and
WHEREAS, Forty-four Thousand Dollars ($44;000) of said amount has been
expended by the City to acquire a leasehold interest in the Property so that
$318,000 remains available in the Transportation Fund for the purchase of the
Property; and
WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins
authorizes the City Council to provide by ordinance for the payment of any
expense from prior year reserves at any time such reserves are available; and
WHEREAS, Article V, Section 14, of the Charter authorizes the City Council
to transfer by ordinance, upon the recommendation of the City Manager, any
unexpended appropriated amount or portion thereof from one fund to another,
provided that the purpose for which the transferred funds are to be expended
remains unchanged or the purpose for which the funds were initially appropriated
no longer exists.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1. That the City Manager is hereby authorized to acquire the
Property described on the attached Exhibit "A," which is incorporated herein by
this reference, from Trillium Corporation for the total amount of Four Hundred
Seventy-five Thousand Dollars ($475,000) .
Section 2. That there is hereby appropriated from prior year reserves in
General City Capital Projects the amount of Seventy-one Thousand Dollars
($71,000) for transfer to the Transportation Division portion of the
Transportation Fund and appropriated therein to be used for the acquisition of
the Property.
Section 3. That the unexpended appropriated amount of Eighty-six Thousand
Dollars ($86,000) is authorized for transfer from the General Fund Operating
Contingency to the Transportation Division portion of the Transportation Fund and
appropriated therein to be used for the acquisition of the Property.
Section 4. That the above-mentioned expenditure of $44,000 for the
acquisition of a leasehold interest in the Property is hereby ratified and
affirmed by the Council .
Introduced, considered favorably on first reading, and ordered published
this 21st day of September, A.D. 1993, and to be presented for final passage on
the 2nd day of November, A.D. 1993.
ti
Ma or
ATTEST:
11�L�' � I"_
City Clerk
Passed and adopted on final reading this 2nd day o ovember, 1993.
Mayor
ATTEST:
City Clerk
EXHIBIT "A"
Parcel 1
Lots 24 through 38, inclusive, Block 21, City of Fort Collins,
County of Larimer, State of Colorado
Parcel 2 (To be revised by survey)
A strip of land now used as the existing alleyway along the east side of the following described
tract:
Lots 22 through 35, inclusive; Lot 42; the West Half of Lot 43, except that portion conveyed by
deed recorded November 5, 1975 in Book 1671 at Page 405; all in Block 22, City of Fort Collins
and that portion of the vacated alley attaching by operation of law as vacated by Ordinance No. 6,
recorded October 9, 1952 in Book 939 at Page 24 and 25.
County of Larimer, State of Colorado