HomeMy WebLinkAbout082 - 08/07/1979 - AUTHORIZING THE CITY TO ENTER INTO AN AGREEMENT WITH T.K.G. INVESTMENTS, A LIMITED PARTNERSHIP PLACI v ATTACHMENT "B-1"
ORDINANCE NO 82 , 1979
BEING AN ORDINANCE OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITf TO ENTER INTO AN AGPEEMENT
WITH T K G INVESTMENTS, A LIMITED PARTNERSHIP
PLACING LIMITATIONS UPON THE SUNSTONE REZONING
WHEREAS, heretofore, T K G Investments, a limited partnership
has requested the City to change the zoning classification for property
described on Exhibit A of the agreement attached hereto as Exhibit B, from
"T" , Transition Zoning District to "R-L-P", Low Density Planned Residential
Zoning District, and
'JHEREAS, in approving said zoning the Council of the City of Fort
Collins has deemed it appropriate that certain restrictions be placed upon
the use of the subject property, and
WHEREAS, the owners of the subject property agreed to these requested
use restrictions, all as set forth in_ the agreement, a true copy of which
is attached nereto as Exhibit B
NOW, THEREFORE, BE IT ORDAIiNED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows
Section 1 That that rPrtain agreement between the City of wort
Collins and T K G Investments, a limited partnersnip, a trte copy or whicn
is attached hereto as Exhibit B be, and the same hereby is, approved
Section 2 That the City Manager be, and he hereby is, authorized and
directed to exect,te said agreement on behalf of the City of Fort Collins
Introduced, considered favorably on first reading, and ordered pub-
lished this 17th day of July, A D 1979, and to be presented for final
passage on the 7th day of Auqust, A D 1979
l
ATTE4erk
(
Passed and adopted on final reading is 7th day cT gust, 1979
_ / 1 or
AT'TE I
Cam`
City Clerk
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5
AGREEMENT
THIS AGREEMENT, made and entered into this day of ,
19795 by and between THE CITY OF FORT COLLINS, COLORADO, a municipal
corporation, hereinafter referred to as the "City", and T K G INVESTMENTS,
a limited partnership, hereinafter referred to as the "Owners"
WITNESSETH
WHEREAS, the Owners are owners of property in the City described in
Exh1Dlt A. attached hereto and by this reference made a part hereof, n
r
and
fWHEREAS, the Owners nave petitioned the City to change the zoning
classification for such property from "T" , Transition Zoning District,
to "R-L-P" , Low Density Planned Residential Zoning District, and
WHEREAS, the commercial and residential development of the subject
property would be ajustifiable and a desireable use of the property if it
were developed as a Planned Unit Development to achieve beneficial land
use relationships with the surrounding areas and to improve the design,
character and quality of the development, and
WHEREAS, the City would be reluctant to zone the subject property
to the R-L-P, Low Density Planned Pesidential vere it not developed as a
Planned Unit Development since to permit it to develop otherwise could have
an adverse impact on neignborino residential areas as well as on the
traffic flow of adjacent arterial streets, and
WHEREAS, the Owners have agreed to develop the subject property as a
Planned Unit Develooment as that term is defined in the Code of the City
of Fort Collins
i
HIIAU 1LM b-o
NO'1, THEREFORE, in consideration of the rrutual covenants and obli-
gations herein expressed, the parties hereto agree as follows
The owners understand and agree that the subject property shall be
developed as a Planned Unit Development as that term is defined in the Code
of the City of Fort Collins
This agreement shall be valid and enforceable only if the requested
zoning from "T", Transition to "R-L-P", Low Density Planned
Residential zoning district is approved the City Council of the City of
Fort Collins
This agreement shall run with the land and shall be binding upon all
future owners, their heirs, their representatives, successors and assigns
IN WITNESS WHEREOF, the parties hereto have caused this agreement to
be entered into the day and year first hereinabove written
_THE CITY OF FORT COLLINS, COLORADO,
ATTEST a municipal corporation
By
City Clerk CiLy Manager
T K G Investments,
a lirrited partnership
By Court-Square Investment Co ,
general partner
By
James H Tull
President
1
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EXHIBIT A
�A parcel--of land located in the City of Fort Collins, County
of Larimer, State of Colorado,_more particularly described _
as follows
The hest nalf of the Southwest Quarter of Section 32,
Townsnip 7 North, Range 68 West of the 6th P M , excepting
therefrom the- parcel conveyed to School District No 17, --'
lying South of the canal of Sprine Canyon Ditcn Company in
the Southwest corner thereof, comprising 2 47 acres, and
also - -- - — - - - - - - I
The South half of the Northwest Quarter of Section 32 , 1
Township 7 North, Range 68 West of the 6th P M , excepting
therefrom approximately 3 391 acres in the Southeast corner,
as per deed recorded in Book 1498, Page 263 of the Larimer
County records , and excepting therefrom the folloei ng
described parcel of land
i
Considering the West line of the Northwest Quarter of said
Section 32 as bearing S 00"24'43" E and beginning at the
Northwest corner of said South half of the Nortnwest Quarter
of Section 32, said point being the true point of beginning,
thence along the Nortn line of said South half, S 89'50' 51 "
E, 322 37 feet, thence along a line parallel with the 'lest
line of said Nortnwest Quarter, S 00°24'43" E, 354 40 feet,
thence along a line parallel with the North line of said
South Falf, N 89 50'51 " W, '22 37 feet to a point on the
blest line of said Northwest Quarter, thence along said West
line of said Northwest Quarter, N 00'24'43" W, 354 40 feet
to the true point of beginning, containing 2 62 acres more
or less