HomeMy WebLinkAbout018 - 03/07/1995 - AUTHORIZING THE SALE OF THE MCKENDRY PROPERTY AND PROPERTY PURCHASE FROM PARAGON INVESTMENT GROUP FO ORDINANCE NO. 18, 1995
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE SALE OF REAL PROPERTY DESCRIBED AS
THE MCKENDRY PROPERTY AND THE PURCHASE
OF REAL PROPERTY FROM PARAGON INVESTMENT GROUP
FOR NATURAL AREAS
WHEREAS, on February 4, 1986, the Council of the City of Fort Collins (the "Council")
authorized the creation of the South Lemay Special Improvement District#86 ("District#86") for
the purpose of installing street and utility improvements within District#86; and
WHEREAS, on September 20, 1988, assessments were levied on property in District#86 for the
cost of construction of the improvements; and
WHEREAS, the owner of approximately seventy-seven (77) acres of land at the southeast corner
of Trilby Road and South Lemay Avenue (the "SID Property")failed to pay assessments due on the
Property; and
WHEREAS, in accordance with Section 22-97 of the Code of the City of Fort Collins, the SID
Property was advertised and sold by the Larimer County Treasurer at the 1989 tax sale and a tax
certificate of purchase was issued to the City; and
WHEREAS. the City subsequently obtained a Treasurer's Deed to the SID Property; and
WHEREAS, Section 22-97(d) of the Code provides, that, if the City is the owner of property
acquired in satisfaction or discharge of liens represented by certificates of purchase, it may sell such
property for the best price obtainable at public sale or auction or by sealed bids or by such other
method of sale which may be approved by the City Council; and
WHEREAS, on January 28, 1994, as part of a settlement with the Resolution Trust
Corporation ("RTC") concerning the RTC's claim to an interest in the SID Property, the City
acquired from the RTC title to approximately sixty-six(66)acres of land located adjacent to and east
of the SID Property (the "RTC Property"); and
WHEREAS, the wetlands and wildlife habitat characteristics of portions of the SID Property and
the RTC Property make them desirable land for preservation as open space; and
WHEREAS, the City has received an acceptable offer from Paragon Investment Group
("Paragon") and the City of Fort Collins Natural Resources Department in the amount of Seven
Hundred Fifty Thousand Dollars ($750,000) for portions of the SID Property and the RTC Property;
and
WHEREAS, Paragon has offered to purchase from the City those portions of the SID
Property and the RTC Property which are legally described on Exhibit "A", attached hereto and
incorporated herein by this reference, (the "Property"); and
WHEREAS,Paragon has also offered to purchase from the City an irrigation easement across
the RTC Property to serve the Property,which easement is legally described on Exhibit "B", attached
hereto and incorporated herein by this reference, (the "Irrigation Easement")' and
WHEREAS, the City and Paragon have entered into an Agreement of Exchange of Real
Property dated January 27, 1995, (the "Agreement") setting forth Paragon's offer to purchase the
Property and the Irrigation Easement from the City for$342,900 plus the conveyance to the City of
real property owned by Paragon valued at $274,820, which purchase is contingent upon Council
approving the Agreement by an ordinance adopted by Council on second reading on or before
March 7, 1995; and
WHEREAS, under Section 23-11 l(a) of the Code, the Council is authorized to sell real property
owned in the name of the City, provided it first finds the sale is in the best interest of the City; and
WHEREAS, Section 22-97(e) of the Code describes the manner in which the proceeds of sale of
real properties should be allocated when real property acquired through the foreclosure of a special
assessment lien is sold.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the sale of the Property and the Irrigation Easement to Paragon pursuant
to the terms of the Agreement is in the best interest of the City.
Section 2. That the Agreement is hereby approved.
Section 3. That the proceeds derived by the City from the sale of the Property and the
Irrigation Easement shall be allocated according to the provisions of Section 22-97(e) of the Code.
Section 4. That the Mayor be, and hereby is, authorized to execute such instruments of
conveyance and other documents as are necessary for the City to sell and convey the Property and
the Irrigation Easement to Paragon pursuant to the terms and conditions of the Agreement.
Section 5. That the City Manager be,and hereby is,authorized to execute future addenda
to the Agreement to extend the closing date under the Agreement if such extension is, in the
judgment of the City Manager, reasonably necessary to accomplish the sale of the Property and the
Irrigation Easement to Paragon.
Introduced, considered favorably on first reading, and ordered published this 21st day of
February, A.D. 1995, and to be presented for final passage on the ay of March 995.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 7th day of Mar .D. 995.
Mayor
ATTEST:
_1 °&-
City Clerk
EXHIBIT "A"
DESCRIPTION OF THAT PORTION OF THE CITY OF FORT COLLINS PROPERTY TO
BE DEEDED
A tract of land located in the northwest quarter of Section 18 of
Township 6 North, Range 68 West of the Sixth Principal Meridian,
City of Fort Collins, Larimer County, Colorado, being a portion of
that certain tract of land described in a Deed dated January 1,
1983 and recorded in Book 2221 at Page 0054 records of the Clerk
and Recorder of the said Larimer County, and a portion of that
certain tract of land described in- a Public Trustees Deed dated
January 28, 1994 and recorded at Reception No. 94008973 records of
the said Clerk and Recorder, and a portion of that certain tract of
land described in a- Treasures Deed- dated- April- 2-1, 1-993 and
recorded at Reception No. 93024580 records of the said Clerk and
Recorder, more particularly described as follows;
Commencing at the northwest corner of the said Section 18;
THENCE along the north line of the said northwest quarter of
Section 18, North 89 degrees 52 minutes 20 seconds East for a
distance of 68.72 feet;
THENCE leaving the said north line, South 00 degrees 07
minutes 40 seconds East for a distance of 50.00 feet to the south
right of way of Trilby Road as described in a Deed of Easement
dated June 5, 1986 and recorded at Reception No. 86029301 records
of the said Clerk and Recorder, and to THE TRUE POINT OF BEGINNING
of this description;
THENCE along the said south right of way and its easterly
prolongation, the said prolongated line being 50. 00 feet (measured
at right angles) south of and parallel with the said north line of
the northwest quarter, North 89 degrees 52 minutes 20 seconds East
for a distance of 1609.44 feet;
THENCE leaving the said prolongated line, South 06 degrees 19
minutes 17 seconds East for a distance of 397. 35 feet;
THENCE South 10 degrees 56 minutes 13 seconds East for a
distance of 781.23 feet;
THENCE South 15 degrees 46 minutes 58 seconds West for a
distance of 396.72 feet;
THENCE South 13 degrees 44 minutes 17 seconds West for a
distance of 139-.T4 feet;
THENCE South 39 degrees 53 minutes 01 seconds West for a
distance of 222.71 feet;
THENCE South 04 degrees 47 minutes 31 seconds West for a
distance, o-f 214.73 feet;
THENCE South 04 degrees 44 minutes 56 seconds East for a
distance of 494.49 feet to the south line of the said northwest
quarter of Section 18 ;
THENCE along the said south line, North 89 degrees 22 minutes
23 seconds West for a distance of 1601.42 feet to the easterly
right of way of South Lemay Avenue as described in the said Deed of
Easement recorded at Reception No. 86029301;
THENCE along the said easterly right of way the following ten
(10) courses and distances, (1) North 00 degrees 55 minutes 49
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seconds East for a distance of 105.31 feet (recorded as 105.57
feet) ;
(2) along a curve to the right having a radius of 20. 00 feet,
a central angle of 90 degrees 00 minutes 00 seconds and an arc
length of 31.42 feet, being subtended by a chord of North 45
degrees 55 minutes 49 seconds East for a distance of 28.28 feet;
(3) North 00 degrees 55 minutes 49 seconds East for a distance
of 80. 00 feet;
(4) along a curve to the right having a radius of 20.00 feet,
a central angle of 90 degrees 00 minutes 00 seconds and an arc
length of 31.42 feet, being subtended by a chord of North 44
degrees 04 minutes 11 seconds West for a distance of 28.28 feet;
(5) North 00 degrees 55 minutes 49 seconds East for a distance
of 913.00 feet;
(6) along a curve to the right having a radius of 20. 00 feet,
a central angle of 90 degrees 00 minutes 00 seconds and an arc
length of 31.42 feet, being subtended by a chord of North 45
degrees 55 minutes 49 seconds East for a distance of 28.28 feet;
(7) North 00 degrees 55 minutes 49 seconds East for a distance
of 54.00 feet;
(8) along a curve to the right having a radius of 20. 00 feet,
a central angle of 90 degrees 00 minutes 00 seconds and an arc
length of 31.42 feet, being subtended by a chord of North 44
degrees 04 minutes 11 seconds West for a distance of 28.28 feet;
(9) North 00 degrees 55 minutes 49 seconds East for a distance
of 1284.39 feet;
(10) along a curve to the right having a radius of 20.00 feet,
a central angle of 88 degrees 56 minutes 31 seconds and an arc
length of 31. 05 feet (previously recorded as 88 degrees 51 minutes
07 seconds, 31. 02 feet) , being subtended by a chord of North 45
degrees 24 minutes 04 seconds East for a distance of 28. 02 feet to
the point of beginning. Containing 98 .493 acres more or less.
The above described tract is subject to all easements and rights of
ways now existing or of record.
I hereby state that the above description was prepared by me and is
true and correct to the best of my professional knowledge, belief
and opinion. The description is based upon previously recorded
plats and deeds and upon an actual field survey.
WALLACE C. MUSCOTT, COLORADO P.L.S. 17497
P.O. BOX 580 FORT COLLINS._ CO 80521
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