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HomeMy WebLinkAbout102 - 09/03/1991 - APPROPRIATING FUNDS AND AUTHORIZING THE PURCHASE OF CERTAIN DOWNTOWN PROPERTIES OWNED BY GLACIER PAR ORDINANCE NO. 102, 1991 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING FUNDS AND AUTHORIZING THE PURCHASE OF CERTAIN DOWNTOWN PROPERTIES OWNED BY GLACIER PARK COMPANY WHEREAS, Glacier Park Company owns real property located in the downtown Fort Collins area known as Parcels 1 and 8 which are identified on the attached Exhibit "A" ; and WHEREAS, Glacier Park Company has offered to sell Parcel 1 to the City for the amount of Four Hundred Ninety-nine Thousand Dollars ($499,000) and has offered to donate Parcel 8 to the City conditioned on the City's purchase of Parcel 1; and WHEREAS, Parcel 1, also known as the Laporte-America Parking Lot, is needed to provide parking space for the downtown business district; and WHEREAS, Article V, Section 7 of the Charter of the City of Fort Collins authorizes the City Council to provide by ordinance for the payment of any expense from prior year reserves, notwithstanding that such reserves were not appropriated for expenditures in the annual appropriation ordinance; and WHEREAS, Council finds that the acquisition of Parcel 1 and Parcel 8 is in the best interests of the City. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1 . That the City Manager is hereby authorized to enter into an agreement to acquire Parcel 1 and Parcel 8 from Glacier Park Company, subject to subsequent Council approval , for the total amount not to exceed Four Hundred Ninety-nine Thousand Dollars ($499,000) . In the event that both of the parcels cannot be purchased upon terms at least as favorable to the City as aforesaid, then the acquisition should not be accomplished. Section 2. That there is hereby appropriated from prior year reserves in the Transportation Fund Reserve the amount of Three Hundred Sixty-two Thousand Dollars ($362,000) ; to be used for the acquisition of Parcels 1 and 8. Section 3. That the remaining amount needed to acquire the parcels, in the amount of One Hundred Thirty-seven Thousand Dollars ($137,000) , shall be taken from the Downtown Development Authority Construction Account. Introduced, considered favorably on first reading, and ordered published this 20th day of August, A.D. 1991, and to be presented for final passage on the 3rd day of September, A.D. 1991 . Mayar o em ATTEST: City Clerk Passed and adopted on final reading this 3rd day of September, A.D. 1991 . Myr ATTEST: City Cl EXHIBIT "A" Parcel 1 Lots 24 through 36, inclusive, and Lots 38 and 39, Block 21, City of Fort Collins , Larimer County, Colorado. Parcel 8 All those portions of Blocks 24, 34, 44, 45 and 55, City of Fort Collins, Larimer County, Colorado, and the vacated streets and alleyways included therein, described as follows , to-wit: Commencing at the Northwest corner of said Block 55; thence Southerly along the West line of said Block 55 a distance of 50.0 feet to the True Point of Beginning of the parcel to be described; thence continuing Southerly along said West line of Block 55 to the point of intersection with a line drawn parallel with and distant 50.0 feet Northeasterly of, as measured at right angles to, Burlington Northern Railroad Company's (formerly Colorado and Southern Railway Company's) Main Track centerline, as originally located and constructed; thence Southeasterly parallel with said Main Track centerline to . the point of intersection with the West line of said Block 34; thence Southerly along said West line to the point of intersection with a line drawn parallel with and distant 50.0 feet Southwesterly of, as measured at right angles to, said Main Track centerline; thence Southeasterly parallel with said Main Track centerline to the point of intersection with the West line of Lot 6, said Block 34; thence Southerly along said West line of Lot 6 to the Southwest corner thereof; thence Easterly along the South line of said Block 34 extended Easterly and the South line of said Block 24 to the Southeast corner of Lot 16, said Block 24; thence Northerly along the East line of said Lot 16 and Lot 15, said Block 24, said line also being the West right-of-way line of the Union Pacific Railroad Company, to an angle point in said Union Pacific Railroad Company's right-of-way; thence Easterly along said Union Pacific Railroad Company's right-of-way to- the point of intersection with a line drawn concentric with and distant 20.0 feet Southerly of, as measured radially to, Burlington Northern Railroad Company's (formerly Colorado and Southern Railway Company's) Track No. 20 centerline, as now located and constructed; thence Northeasterly parallel with said Track No. 20 centerline to the point of intersection with the-East line of said Black 24; thence Northerly along said East line to the point of intersection with a line drawn parallel with and distant 10.0 feet Southerly of, as measured at right angles to, the Southerly line of Lot 7, said Block 24; thence Westerly along said parallel line to the point of intersection with a line drawn parallel with and distant 75.0 feet Easterly of, as measured at right angles to, the West lines of Lots 4, 5 and 6, said Block 24; thence Southerly parallel with said West lines of Lots 4, 5 and 6 to the point of intersection with the Southerly shoreline of the Mason and Hottel Ditch; thence Westerly and Northwesterly along said shoreline to the point of intersection with a line drawn parallel with and distant 50.0 feet Southerly of, as measured at right angles to, the North line of said Block 55; thence Westerly along said parallel line to the True Point of Beginning.