HomeMy WebLinkAbout136 - 11/20/2007 - ASSESSING THE COST OF IMPROVEMENTS IN THE TIMBERLINE AND PROSPECT SPECIAL IMPROVEMENT DISTRICT NO. 9 ORDINANCE NO. 136, 2007
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ASSESSING THE COST OF IMPROVEMENTS IN THE
TIMBERLINE AND PROSPECT SPECIAL IMPROVEMENT DISTRICT NO. 94
IN THE CITY OF FORT COLLINS, COLORADO AND PROVIDING FOR THE
PAYMENT AND COLLECTION THEREOF
WHEREAS,the Council of the Cityof Fort Collins,Colorado(the"Council'),has heretofore
duly adopted Resolution 2003-122,Resolution 2005-083,Resolution 2005-091 and Ordinance No.
090, 2005, of the City (the "Creation Ordinance") relating to the creation of the Timberline and
Prospect Special Improvement District No. 94 of the City(the"District') for the purpose of making
the following improvements: additional turn lanes, additional travel lanes, raised medians, an
improved traffic signal,and new asphalt pavement in and around the intersection of Timber road and
Prospect Road (the "Improvements"); and
WHEREAS, the cost of the Improvements was advanced by the owners and developers of
certain properties located in close proximity to the Improvements(the"Funding Entities")pursuant
to an agreement between the City and the Funding Entities that City staff would recommend to the
Council that a portion of said costs be assessed against other neighboring properties that would
especially benefit from the Improvements and that, upon repayment of said assessments, such
amounts would be reimbursed to the Funding Entities by the City; and
WHEREAS, pursuant to Section 5 of the Creation Ordinance, the amount to be assessed
against property in the District is to exclude the portion of the cost of the Improvements that will be
due from the owners of certain underutilized properties within one mile of the intersection of
Timberline and Prospect Roads (the"Underutilized Properties"), which portion will be payable to
the Funding Entities through reimbursement agreements required by the City as a condition of the
redevelopment of said properties if and when said redevelopment occurs; and
WHEREAS,pursuant to the Creation Ordinance and the District Engineering Report on file
with the City Clerk of the City, the Improvements have been fully acquired, constructed and
installed; and
WHEREAS, on October 2, 2007, the Council adopted Resolution 2007-073 accepting the
Improvements, receiving and accepting the Statement of Cost of the District and the District
Assessment Roll prepared by the City Engineer and the Financial Officer of the City, respectively,
and ordering notice of the proposed assessments to be published as provided in Section 22-88 ofthe
Code of the City; and
WHEREAS, on October 2, 2007, the Council adopted Resolution 2007-093 rescinding
Resolution 2007-073, in order to correct certain errors in Resolution 2007-073; and
WHEREAS, pursuant to Resolution 2007-093, notice was duly published and the date of
November 6, 2007, was set for the hearing of complaints or objections to the proposed District
Assessment Roll; and
WHEREAS, on said date, the Council held a public hearing for the purpose of hearing and
determining any complaints or objections made in writing by any owner of property to be assessed
for the cost of the District, which complaint or objection was filed in the office of the City Clerk
within thirty(30) days from the publication of the notice of the proposed assessments; and
WHEREAS, the Council has considered the Final Cost/Benefit Study prepared by Bonnie
Roerig&Associates,LLC, Study Date September 5, 2007, to evaluate relevant market data related
to the District; and
WHEREAS, based upon said Final Cost/Benefit Study, the Council has confirmed that the
value of each of the parcels to be assessed has increased from the 2005 study value in an amount
equal to or greater than the proposed assessment for each such parcel; and
WHEREAS,all complaints or objections duly made and filed by such property owners to the
Council have been heard and considered by the Council.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the total cost of the District, including final construction costs,
engineering and construction management costs,publication costs and any other incidental costs of
the District is$2,338,134. Said amount excludes that portion of the cost of the Improvements to be
separately paid by the Underutilized Properties at the time of redevelopment and also excludes the
cost of collecting the assessments imposed bythis Ordinance,which costs of collection will be added
by the County Treasurer or the Financial Officer at the time each annual assessment is due. Said
amount is hereby assessed upon all real property in the District in accordance with the resolutions
and ordinances pertaining to the District adopted by the Council and the provisions of Chapter 22
of the Code of the City, except those properties for which a proportionate share of the costs of the
District have been advanced by the Funding Entities. The portion of the total cost of the District to
be assessed upon each lot or tract of land in the District shall be as set forth on Exhibit"A" attached
hereto and incorporated herein by this reference.
Section 2. All assessments made herein shall be due and payable within thirty(30) days
after the final publication of this Ordinance without demand,provided that all such assessments may,
at the election of the owners of the property assessed,be paid in ten(10)equal principal installments,
the first installment being due on the 1 st day of January,2008, and on the 1 st day of January of each
year thereafter until the full amount thereof has been paid, together with interest on the unpaid
principal at the rate of five percent (5%) per annum, said interest to be payable at the time of the
principal payments.
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Section 3. That total principal component of the first installment is expected to be
$140,961. The total interest component of the first installment is estimated to be$70,481,depending
upon the actual date of payment. The amount of each installment for individual parcels in the
District shall be the principal amount of assessment for each such parcel, as shown on Exhibit"A",
divided by ten(10) installments,plus a proportionate amount of accrued interest together with any
penalty interest and collection fee required by law.
Section 4. Interest will begin to accrue January 2, 2008, and will continue until the
assessments are paid in full.
Section 5. hi the case of such election to pay in installments as set forth herein, the
failure to pay any installment, whether of principal or interest, when due shall cause the entire
remaining principal balance and accrued interest thereon to become due and collectible immediately
at the interest rate of one and one-half percent(1 1/2 %)per month or fraction of a month until the
day of the sale of the property as provided in Chapter 22 of the City Code. At any time prior to the
day of sale,the owner may pay the amount of all unpaid installments together with accrued interest
or fraction thereof, and shall be restored to the right to pay in installments in the same manner as if
default had not occurred.
Section 6. All assessments made herein,together with all interest thereon and penalties
for default in payment thereof, shall be a lien in the several amounts assessed against each property
from the date of the publication of the assessing ordinance and shall be a first and prior lien over all
other liens except general taxes in the same manner as general taxes now provided by law.
Section 7. All complaints or objections duly made in writing and filed with the City as
provided in Chapter 22 of the City Code have been heard and considered by the Council and the
Council hereby finds and determines,based upon evidence in the record,that the assessments made
herein are equitable and proper and the costs to be assessed against each parcel of real property in
the District does not exceed the amount of special benefit derived by such parcel from the
construction of the Improvements.
Section 8. All actions,legal or equitable,for relief against the assessments made herein,
whether based upon irregularities,jurisdictional defects or other grounds,shall be commenced within
thirty(30) days after the final passage of this Ordinance or else be thereafter perpetually barred.
Section 9. All action(not inconsistent with the provisions of this Ordinance)heretofore
taken by the City or its officers directed toward the acceptance of District Improvements, the
presentation and filing of the Statement of District Costs and the District Assessment Roll, and the
ordering of Notice to property owners to the assessed and to persons interested generally is hereby
ratified, approved and confirmed.
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Introduced and considered favorably on first reading and ordered published this 6th day of
November, A.D. 2007, and to be presented for final passage on the 20th day of November, A.D.
2007.
Mayor
ATTEST:
- )�I A ,
City Clerk
Passed and adopted on final reading this 20th day of November, A.D. 2007.
i
Mayo
ArrEST:
City Clerk
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Exhibit A
That part of the NE '/4 of Section 18, Township7 N, Range 68 W, Larimer County,
Colorado, described as follows: Commencing at a point on the East side of said
Northeast 1/4, from which the Northeast corner of said Section 18 bears N 00'01' E a
distance of 473.5', said point being also on the Southerly right-of-way line of State
Highway No. 14; thence 100.00' along the Southerly right-of-way of said Highway on a
curve to the right having a radius of 10,904 feet and whose chord bears S 89043'45" W
100.00' to the true point of beginning; said true point of beginning also being the
Westerly line of a 100 foot wide road right of way; thence S 00°01' W 345.50' along the
Westerly line of said right of way; thence 31.42' along a curve to the right having a
radius of 20.00 feet and whose chord bears S 44059' W 28.28 feet to the Northerly right-
of-way line of a 60 foot wide road right of way; thence along said Northerly right of way
line N 89059' W 245.00 feet; thence continuing along said line 172.61' along a curve to
the left having a radius of 230.00' and whose chord bears S 60°51' W 168.59'; thence
leaving said Northerly right of way line N 12°32'57" W 149.62' to the Southeast corner
of that tract of land described in Deed recorded in Book 1536 at Page 969; thence N
00'01' E 299.53' feet along the Easterly line of said tract in Book 1536 at Page 969 to the
Southerly right-of-way line of State Highway 14; thence 454.54' along the Southerly
right of way line of said Highway on a curve to the left having a radius of 10,904 feet and
whose chord bears S 88°48149" E 454.51' to the true point of beginning. Together with a
non-exclusive easement for ingress and egress over and across a 60 foot wide road right
of way, said road right of way being 30' on either side of centerline, described as follows:
Beginning at a point on the East line of said Northeast '/< from which the Northeast comer
of said Section 18 bears N 00'01' E a distance of 878.50', said point being also on the
Easterly right of way line of a 100' wide road right of way; thence N 89°59' W 100.00'
to a point on the Westerly right of way line of said 100 foot wide road right of way and
the true point of beginning; thence N 89°59' W 265.00'; thence 150.10' along a curve to
the left having a radius of 200.00' and whose chord bears S 68°31' W 146.60'. Together
with all ditches and ditch rights, water and water rights, reservoirs, and reservoir rights,
belonging and appertaining thereto.
Exhibit B
A part of Tract 3 and all of Lot 1, Cache La POudre Industrial Park PUD, City of Fort
Collins, and that portion of Hoffinan Mill road as vacated by Ordinance No. 159, 1998,
recorded October 21, 1998, at Reception No. 98091889, described as follows:
Considering the West line of the Southwest Quarter of Section 17, Township 7 North,
Range 68 West of the 6`h P.M.,, as bearing North 00°09'21" East as determined by
monuments found at the Southwest corner of Section 17 and the West Quarter corner of
said section 17, and with all bearing contained herein relative thereto.
Beginning at the Southwest corner of Tract 3, Cache La Poudre Industrial Park PUD,
City of Fort Collins, Larimer County, Colorado; thence along the West line of said Tract
3 North 00°09'21" East 1650.59';
thence departing from said line S 89°50'39"W 557.6l';
Thence S 00°09'21" W 305.44';
Thence S 88°57'32" E 441.6l';
Thence S 23'18'20"W 508.74';
Thence S 62°51'14" E 133.73';
Thence S 05°58'36"W 774.27';
Thence N 89°20'09"W 271.88';
Thence S 0099'51" W 447.03' to a point on the South line of said Tract 31 thence along
said line N 89°20'09" W 567.54' to the beginning, County of Larimer, State of Colorado.
Together with all right, title, and interest of grantor in all water and lake rights associated
with property.
Exhibit C
A part of Tract 1, Cache La Poudre Industrial park PUD, City of Fort Collins, Recorded
November 7, 1985, at Reception No. 85057278 in the office of the Latimer County Clerk
and Recorder, being located in the City of Fort Collins, County of Latimer, State of
Colorado; and being more particularly described as follows:
Considering the East line of the Southeast quarter of Section 18, Township 7 N, Range 68
W, of the 6a' P.M., as bearing N 00°09'21" E, as shown on said plat of Cache La Poudre
Industrial Park PUD and as determined by monuments found at the Southeast corner of
said Section 18 and the East '/4 comer of said Section 18 and with all bearings contained
herein relative thereto.
Commencing at the Southeast corner of Tract 1, Cache La Poudre Industrial Park PUD,
City of Fort Collins, Latimer County, Colorado; Thence along the South line of said
Tract 1 S 89°13'10" W 23.27' to the true point of beginning; thence continuing along
said line S 89°13'10" W 105.67'; thence S 89°17'27" W 455.27'; thence along the
westerly line of said Tract 1 N 18'05'15"W 420.88'; thence departing from said westerly
line N 72°48'31" E 348.27'; thence S 82°32'19" E 363.15' to a point 23.27' west of the
east line of said tract 1, said point also being 23.27' west of the west right of way line of
Timberline Road; thence along a line 23.27' west of and parallel with the east line of said
Tract 1 S 00°09'21"W 448.79' to the true point of beginning.
Said described land contains 6.761 acres more or less and is subject to any terms,
agreements, provisions, conditions, or obligations, rights of way, or easements of record
or as now exist on the ground.
Basis of Bearings
Considering the West line of the Southwest '/< of Section 17, Township 7 N, Range 68 W,
of the 61h P.M. as bearing N 00109'21" E as shown on said plat of Cache La Poudre
Industrial Park PUD, and as determined by monuments found at the southwest corner of
section 17 and the west '/< corner of said section 17, and with all bearings contained
herein and relative thereto.
Exhibit D
Lot One of Centerpoint Plaza, Fort Collins, Except the following described portion of Lot
1, Centerpoint Plaza,: Begin at the Northeast Corner of said Lot One and run thence
along the East line of said Lot One S 00°22'00" W 126.00'; thence N 89°38'00" W
131.97'; thence S 00°22'00"W 42.00'; thence N 89°38'00" W 110.50' to the West line of
said Lot One; thence along said West Line N 00°22'00" E 143.00', and again along the
arc of a 25.00' radius curve to the right a distance of 39.27', the long chord of which
bears N 45°22'00" E 35.36' to the North line of said Lot One, thence along said North
line S 89°38'00" E 217.47' to the point of beginning.
County of Larimer,
State of Colorado.