HomeMy WebLinkAbout078 - 07/06/2010 - AMENDING ORDINANCE NO. 086, 2009, TO ADJUST THE ANNUAL LEASE RATE OF CITY-OWNED PROPERTY AT 3620 KEC ORDINANCE NO. 078, 2010
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING ORDINANCE NO. 086, 2009, TO ADJUST THE ANNUAL
LEASE RATE OF CITY-OWNED PROPERTY AT 3620 KECHTER ROAD
WHEREAS, in April 2001, the City Council adopted Ordinance No. 048, 2001, amending
Chapter 23 of the City Code 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 would be in the
best interests of the citizens of the City; and
WHEREAS, Ordinance No.'048, 2001, further stated 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 would not negatively impact the local real estate
market, due to the anticipated volume of property purchases the program would entail; and
WHEREAS, in April, 2002, the City acquired the property at 3620 Kechter Road, Fort
Collins(the"Property")as part of the land banking program established pursuant to Ordinance No.
048, 2001; and
WHEREAS, on September 1,2009,the City Council adopted on second reading Ordinance
No. 086, 2009, (the "2009 Ordinance"), which authorized the lease of the Property for up to five
years at an annual rate of at least $19,200; and
WHEREAS, the City has had difficulty leasing the Property at the lease rated stated in the
2009 Ordinance; and
WHEREAS, the City Council believes it is in the best interests of the City to amend the
annual rate to a minimum of $15,600 to increase the likelihood of retaining a tenant for at least one
five-year term.
NOW, THEREFORE BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the fifth clause of Ordinance No. 086, 2009 is hereby amended to read as follows:
WHEREAS,the City has leased the Property since 2002 and desires to continue leasing the
Property for a period of up to five years at an annual rate of at least $15,600.
Introduced, considered favorably on first reading, and ordered published this 15th day of
June, A.D. 2010, and to be presented for final passage4the6 of July, A.D. 2010.
ATTEST:
A L
City Clerk
Passed and adopted on final reading on the 6th4Mayo
D. 2010.
ATTEST:
City Clerk
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