HomeMy WebLinkAbout151 - 10/05/2004 - AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 1506A WEST HORSETOOTH ROAD, FORT COLLINS, COLORADO, ORDINANCE NO. 151, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
1506A WEST HORSETOOTH ROAD, FORT COLLINS, COLORADO,
FOR UP TO FIVE YEARS
WHEREAS, in April 2001, the Council adopted Ordinance No. 048, 2001, amending
Chapter 23 of the Code of the City by the addition of a new Article XI entitled "Land Banking";
and
WHEREAS, Ordinance No. 048, 2001, contains a determination made by the City
Council that the acquisition of real property in order to ensure the property will be available for
future development to provide housing for extremely low and very low income families is in the
best interests of the citizens of the City; and
WHEREAS, Ordinance No. 048, 2001, further states that the proposed program for the
banking of real property for the purpose of assisting housing providers in providing housing for
extremely low and very low income families will not negatively impact the local real estate
market, due to the anticipated volume of property purchases the program would entail; and
WHEREAS, as part of the land banking program established pursuant to Ordinance No.
048, 2001, known as the Affordable Housing Land Bank Program (the "Land Bank Program"),
the City of Fort Collins acquired the property at 1506A West Horsetooth Road, in Fort Collins
(the "Property"), in February, 2003; and
WHEREAS, the City desires to lease this Property for a period of up to five years at an
annual rate of at least $14,420; 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 interest of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the Council hereby finds that the lease of the Property at 1506A West
Horsetooth Road as provided herein is in the best interests of the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute a negotiated Lease
Agreement for the Property consistent with the terns of this Ordinance, together with such
additional terms and conditions as the City Manager, in consultation with the City Attorney,
determines to be appropriate to protect the interests of the City.
Introduced, considered favorably on first reading, and ordered published this 21st day of
September, A.D. 2004, and to be presented for final passage on the 5th day of October, A.D.
2004.
ayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 5th day of October, A.D. 20 4.
ayor
ATTEST:
City Clerk