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HomeMy WebLinkAbout117 - 09/03/2002 - AUTHORIZING THE SALE OF APPROXIMATELY 160 ACRES OF LAND KNOWN AS THE JACOBY FARM TO LARIMER COUNTY A ORDINANCE NO. 117, 2002
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE SALE OF APPROXIMATELY 160 ACRES OF
LAND KNOWN AS THE JACOBY FARM
TO LARIMER COUNTY AND AUTHORIZING
THE EXTENSION OF AN EXISTING AGRICULTURAL LEASE
ON THE PROPERTY
WHEREAS, the City of Fort Collins is the owner of that certain real property located in
Larimer County,Colorado,known as Jacoby Farm,which was purchased by the Wastewater Utility
for Wastewater Utility purposes, more particularly described as follows:
The Southwest Quarter of Section 13, Township 6 North, Range 68 West of the 61h
Prime Meridian, Larimer County, Colorado, excluding an portion contained in that
certain Deed recorded February 11, 1959, in Book 1086,Page 272,Larimer County
Colorado,consisting of approximately 160 acres("Jacoby Farm"or the"Property");
and
WHEREAS,Jacoby Farm,which is located approximately two miles east of Interstate 25 on
Colorado highway 392 along the Poudre River, was originally purchased by the City in 1990 as a
possible site for a future regional wastewater treatment plant; and
WHEREAS, regional water/wastewater planning completed since the time of purchase of
Jacoby Farm has indicated that a regional wastewater treatment facility is not needed in that vicinity;
and
WHEREAS, City staff has determined that there is no longer a wastewater related use
appropriate for Jacoby Farm; and
WHEREAS, although City Natural Resources Department staff originally expressed an
interest in acquiring Jacoby Farm for use in the City's Natural Areas Program,it was determined that
the acquisition of the Property by Larimer County for its Open Lands Program would enhance the
benefits associated with the transfer; and
WHEREAS, the appraised value of Jacoby Farm (including the value of the 25 shares of
Colorado-Big Thompson water that had not previously been severed from the Property--the"CBT
Water") is $2,180,000; and
WHEREAS, the appraised value of the CBT Water is $260,000; and
WHEREAS, the County has agreed in principle to acquire Jacoby Farm without acquiring
the CBT Water, which the City will retain, for the amount of $1,920,000, which represents the
difference between the appraised value of the Property and the value of the retained CBT Water;and
WHEREAS,on March 4, 1998,the City entered into a lease of Jacoby Farm to Royal Vista
Equine,Inc. (the"Tenant"),for a potential term extending through February 28,2003 (the"Lease"),
a copy of which is on file and available for public review in the Office of the City Clerk; and
WHEREAS,the Lease allows for the use of Jacoby Farm for cultivation of alfalfa and grass
mix and for livestock grazing, and requires that the City provide to the Tenant certain raw water for
use on the Property; and
WHEREAS, staff is not aware of any defaults or issues associated with the Lease or the use
of Jacoby Farm by the Tenant, and City staff and Larimer County staff have recommended that, in
order to provide for continuity of the leasehold interest and eliminate the need for a new County
lease prior to the expiration of the Lease, a one-year extension of the Lease be entered into by the
City prior to conveyance of Jacoby Farm, continuing at an annual lease rate of$6,000; and
WHEREAS,Larimer County has proposed to take title to Jacoby Farm subject to the Lease
as extended through February 2004 in accordance with this Ordinance; 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, including leasing of the
property, provided the Council first finds by ordinance that any sale or disposition of real property
owned by the City will not materially impair the viability of any City utility system as a whole of
which the property is a part, will be for the benefit of the City's citizens, and will be in the best
interests of the City.
NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That neither the above described conveyance of Jacoby Farm nor the above
described extension of the Lease for an additional one-year term will materially impair the viability
of the City's wastewater utility as a whole,and that each will be for the benefit of the City's citizens,
and in the best interests of the City.
Section 2. That the Mayor is hereby authorized to execute such documents of
conveyance or commitment as are necessary to convey Jacoby Farm to Larimer County, consistent
with the terms and conditions described above.
Section 3. That the Mayor is hereby authorized to execute an agreement extending the
term of the Lease through February 2004,consistent with the terms and conditions described above.
Introduced, considered favorably on first reading, and ordered published this 20th day of
August, A.D. 2002, and to be presented for final passage on the 3rd day of September, A.D. 2002.
All
Mayor t
IESTT.
City Clerk
Passed and adopted on final reading this 3rd day of September, A.D. 2002.
f.
Mayor
ATTEST:
City Clerk