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HomeMy WebLinkAbout006 - 02/01/2005 - AUTHORIZING THE LEASE OF PROPERTY TO BE ACQUIRED FOR WELLINGTON COMMUNITY SEPARATOR TO TURF MASTER L ORDINANCE NO. 006, 2005 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE LEASE OF PROPERTY TO BE ACQUIRED FOR WELLINGTON COMMUNITY SEPARATOR TO TURF MASTER LTD.,FOR A SOD FARM AND RELATED USES WHEREAS, the City of Fort Collins has negotiated an agreement to purchase for a part of the Wellington community separator that certain property described on Exhibit"A"attached hereto and incorporated herein by this reference(the"Property"),which has previously been occupied and used by Turf Master, Ltd., ("Turf Master"), for a sod farm and related uses; and WHEREAS, the Seller has conditioned the conveyance of the Property on the lease of the Property to Turf Master, for continued use of the Property for a sod farm and related residential and other purposes, for up to three four-year terms; and WHEREAS, City staff has negotiated with Turf Master a proposed lease agreement a copy of which, dated January 14, 2005, is on file in the office of the City Clerk and available for publid inspection (the"Lease Agreement"),which provides for the lease of the Property to Turf Master for the uses specified therein, for an initial term of four years with two possible four-year extensions, for An initial annual rental amount of $85,000.00, to be paid quarterly, with indexed rental rate escalators for any renewal terms; and WHEREAS, the proposed lease of the Property to Turf Master will not interfere with or impair the City's intended uses of the Property as part of the Wellington Community Separator; and WHEREAS, City staff has also determined that the lease rate of $85,000.00 per year is consistent with the approximate fair market lease rate for comparable property; and WHEREAS, under Section 23-114 of the Code of the City of Fort Collins, the Council is authorized to lease any and all interests in real property owned in the name of the City,provided that Council first finds that the lease is 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 the lease by the City of the Property to Turf Master, under the terms and conditions set forth herein and in the Lease Agreement, is in the best interests of the City of Fort Collins. Section 2. That the City Manager is hereby authorized to enter into the Lease Agreement, together with such other related provisions determined necessary to protect the interests of the City by the City Manager, in consultation with the City Attorney, and is further authorized to extend the term of the same for the full potential term of twelve years, as provided therein. Introduced, considered favorably on first reading, and ordered published this 18th day of January, A.D. 2005, and to be presented for final passage on the 1st day of February, A.D. 2005. Mayor ATTEST: City Clerk Passed and adopted on final reading this 1st day of February, A.D. 2005. f Mayor ATTEST: LLE: City Clerk EXHIBIT "A" LEGAL DESCRIPTION OF THE LAND All THAT PART OF THE NORTH 1/2 OF THE NW 1/4 OF SECTION 29, TOWNSHIP 8 NORTH,RANGE 68 WEST OF THE 6TH P.M.,COUNTY OF LARIMER,STATE OF COLORADO,LYING EAST OF THE PROPERTY DESCRIBED IN BOOK 171 AT PAGE 456, LARIMER COUNTY RECORDS, EXCEPTING THEREFROM A PARCEL OF LAND PREVIOUSLY CONVEYED BY DEED RECORDED IN BOOK 442 AT PAGE 428,LARIMER COUNTY RECORDS. ALL THAT PART OF THE SOUTH 1/2 OF THE NORTHWEST 1/4 OF SECTION 29,TOWNSHIP 8 NORTH, RANGE 68 WEST OF THE 6TH P.M.,COUNTY OF LARIMER, STATE OF COLORADO, LYING EAST OF THE PROPERTY DESCRIBED IN BOOK 171, PAGE 456, LARIMER COUNTY RECORDS, EXCEPTING THEREFROM A PARCEL OF LAND PREVIOUSLY CONVEYED BY DEED RECORDED IN BOOK 442 AT PAGE 428,LARIMER COUNTY RECORDS. ALL THAT PART OF THE SOUTHWEST 1/4 OF SECTION 29,TOWNSHIP 8 NORTH,RANGE 68 WEST OF THE 6TH P.M., COUNTY OF LARIMER, STATE OF COLORADO, LYING EAST AND NORTH OF THE OUTLET DITCH OF THE W.P.ELDER RESERVOIR. THE EAST 1/2 OF SECTION 29,TOWNSHIP 8 NORTH, RANGE 68 WEST OF THE 6TH P.M.,COUNTY OF LARIMER,STATE OF COLORADO.