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HomeMy WebLinkAbout080 - 08/03/1993 - AUTHORIZING THE SALE OF A PORTION OF TRACT D OF FAIRBROOKE PUD TO POUDRE SCHOOL DISTRICT R-1 ORDINANCE NO. 80, 1993 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE SALE TO POUDRE SCHOOL DISTRICT R-1 OF REAL PROPERTY DESCRIBED AS A PORTION OF TRACT D OF FAIRBROOKE PUD WHEREAS, on October 18, 1983, the Council of the City of Fort Collins (the "Council") authorized the creation of the Fairbrooke Special Improvement District #79 (the "District") for the purpose of installing street, water, and wastewater improvements within the District; and WHEREAS, on March 4, 1986, assessments were levied on property in the District for the cost of construction of the improvements; and WHEREAS, the owner of Tract D of Fairbrooke PUD ("Tract D") failed to pay the first installment due in October of 1987; and WHEREAS, in accordance with Section 22-97 of the Code of the City of Fort Collins, Tract D of Fairbrooke PUD was advertised and sold by the Larimer County Treasurer at the 1988 tax sale and tax certificates of purchase were issued to the City; and WHEREAS, the City subsequently obtained a Treasurer's Deed to Tract D; and WHEREAS, Section 22-97(d) of the Code provides that, if the City is the owner of property acquired in satisfaction or discharge of liens represented by certificates of purchase, it may sell such property for the best price obtainable at public sale or auction or by sealed bids or by such other method of sale which may be approved by the City Council ; and WHEREAS, on May 19, 1992, the Council adopted a Sales Policy for Property Acquired Through or in Lieu of Special Assessment Lien Foreclosure Process ("the Policy") ; and WHEREAS, pursuant to the Policy, the City offered the Property for sale to the public through an RFP process and contacted local governmental agencies seeking buyers for all or any portion of Fairbrooke PUD; and WHEREAS, in response thereto, the City received two offers for the Property, the higher offer being from the District in the amount of Forty-five Thousand Five Hundred Eighty Dollars ($45,580) for that portion of Tract D which is legally described on Exhibit "A" attached hereto and incorporated herein by this reference ("the Property") ; and WHEREAS, the District's offer of Forty-five Thousand Five Hundred Eighty Dollars ($45,580) for the Property will cover all the City's costs in the Property through the date of closing; and WHEREAS, the City and the District have entered into an Agreement of Purchase and Sale of Real Property dated June 29, 1993 ("the Agreement") , pursuant to which the City has agreed to sell the Property to the District for $45,580, contingent upon Council approving the Agreement by ordinance on second reading on or before August 3, 1993; and WHEREAS, under Section 23-111(a) of the Code, the Council is authorized to sell real property owned in the name of the City, provided it first finds the sale is in the best interest of the City; and WHEREAS, Section 22-97(e) of the Code describes the manner in which the proceeds of sale of real properties should be allocated when the property sold has been acquired through the foreclosure of a special assessment lien. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the sale of the Property to Poudre School District R-1 for the sum of Forty-five Thousand Five Hundred Eighty Dollars ($45,580) is in the best interests of the City and that said amount is the best price obtainable by the City for the Property and represents the fair market value thereof. Section 2. That the proceeds derived by the City from such sale shall be allocated according to the provisions of Section 22-97(e) of the Code. Section 3. That the Agreement is hereby approved by Council , and the Mayor is hereby authorized to execute such deeds and instruments of conveyance as are necessary for the City to sell and convey the Property on the terms and conditions set forth in the Agreement. Introduced, considered favorably on first reading and ordered published this 20th day of July, A.D. 1993, and to be presented f r final passage of►—�he 3rd day of August, A.D. 1993. r ATTEST: Oa City Clerk k1l Passed and adopted on final reading this 3rd d o August, 19 ATTEST: Mayor City Clerk EXHIBIT "A" DESCRIPTION OF THE SCHOOL PORTION (REVISED) OF TRACT D FAIRBROOKE SID A tract of land located in the north one half of Section 21 Township 7 North, Range 69 West of the Sixth Principal Meridian, City of Fort Collins, Larimer County, Colorado, the said tract is also a portion of Tract D of Fairbrooke SID a Plat of record with the Clerk and Recorder of the said Larimer County more particularly described as follows; Commencing at the northeast corner of the said Tract D, the said northeast corner is on the existing 50.00 feet wide southerly right of way of West Prospect Road and is also the TRUE POINT OF BEGINNING of this description; THENCE along the east line of the said tract D, South 01 degrees 13 minutes 57 seconds West for a distance of 185. 05 feet; THENCE leaving the said east line, North 88 degrees 46 minutes 03 seconds West for a distance of 220.00 feet; THENCE South 01 degrees 13 minutes 57 seconds West for a distance of 31.95 feet; THENCE North 65 degrees 25 minutes 05 seconds West for a distance of 199.32 feet; THENCE North 40 degrees 56 minutes 16 seconds West for a distance of 79.22 feet; THENCE North 01 degrees 13 minutes 57 seconds East for a distance of 79.29 feet to the said north line of Tract D; THENCE along the said north line, South 88 degrees 46 minutes 03 seconds East for a distance of 456. 18 feet to the point of beginning. Containing 78970 square feet or 1.813 acres. The above described tract is subject to all easements and rights of ways now existing or of record. I hereby state that the above description was prepared by me and is true and correct to the best of my professional knowledge, belief and opinion. The description and areas are based upon previously recorded plats and deeds and not upon a actual field survey. WALLACE C. MUSCOTT COLORADO P.L.S. 17497 go P.O. BOX 580 FORT COLLINS, CO 80522 �,GE CAS. � 7 .