HomeMy WebLinkAbout097 - 06/19/2001 - AUTHORIZING THE SALE OF REAL PROPERTY TO TIDAL WAVE CAR WASH, LLC ORDINANCE NO. 97, 2001
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE SALE OF REAL PROPERTY TO TIDAL WAVE
CAR WASH, LLC
WHEREAS, in 1984,the City created Special Improvement District No. 84 (the "District")
for the purpose of making public improvements in the vicinity of JFK Parkway and Troutman
Parkway, and issued Special Improvement District bonds in support of the District, which bonds
were to be repaid by special assessments on the property benefitted by the improvements; and
WHEREAS, due to economic conditions in the late 1980's, certain of these special
assessments were not paid by the assessed property owners,whereupon the City continued to make
the payments on the bonds and commenced foreclosure on the property subject to unpaid taxes and
assessments; and
WHEREAS,as a result of said foreclosures,the City acquired ownership of certain properties
in the District including those properties described on Exhibit"A" attached hereto and incorporated
herein by this reference to be known respectively as the"City Parcel" and the"Johnson Parcel";and
WHEREAS,the City Parcel is owned entirely by the City and the Johnson Parcel is owned
in part by the City and that,with respect to the Johnson Parcel,the City shall receive seventy percent
(70%) of the net proceeds from the sale thereof, in the sum of$65,374.52, and, with respect to the
City Parcel, the City shall receive the sum of$7 per square foot (approximately $17,228); and
WHEREAS, the Council has determined that it is in the best interest of the City that the
property described on Exhibit "A" be sold to the Tidal Wave Car Wash, LLC upon the terms and
conditions above described.
NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the sale of the property described on Exhibit"A"to the Tidal Wave Car Wash,LLC
is in the best interest of the City, which sale shall be made upon the terms recited above and the
additional terms and conditions contained in the Purchase and Sale Agreements for Real Property
relating to the City Parcel and the Johnson Parcel which, taken together, will net the City the sum
of approximately $82,600, and the City Manager is hereby authorized to execute the Sale and
Purchase Agreements for the sale of the City Parcel and the Johnson Parcel,and the Mayor is hereby
authorized to execute any deeds or other instruments of conveyance necessary to complete such sale
and purchase.
Introduced and considered favorably on first reading and ordered published this 5th day of
June, A.D. 2001, and to be presented for final passage on the 19th day aJune, A.D. 2001.
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r
Mayor R
ATTEST:
City Clerk Q
Passed and adopted on final reading this 19th day of June, A.D. 2001.
Mayor 7r)M
ATTEST:
City Clerk
EXHIBIT "A"
The CiII Parcel
That portion of Lot 1, Super Block Holding Phase I,which is described in the Sheriffs Deed,dated
March 1, 1996, and recorded at Reception No. 96014523, Larimer County, Colorado real estate
records, consisting of approximately .0565 acres (although Seller makes no representation with
respect to said acreage).
The Johnson Parcel
Lot 1, Super Block Holding Phase I, as shown on the plat thereof,recorded in the Larimer County,
Colorado real estate records, TOGETHER WITH the right to use an access easement adjacent to
the subject property on the North and West as depicted on that plat of the Market Place, P.U.D.,
recorded July 11, 1989, at Reception No. 89030594,Larimer County, Colorado real estate records,
SAVE AND EXCEPT that portion of Lot 1, Super Block Holding Phase I, owned by the City of
Fort Collins, Colorado, pursuant to the Sheriffs Deed dated March 1, 1996, and recorded at
Reception No. 96014523, Larimer County, Colorado real estate records.