HomeMy WebLinkAbout011 - 02/15/1994 - AUTHORIZING A LEASE AGREEMENT FOR THE OLD POWER PLANT SITE LOCATED AT 430 NORTH COLLEGE- .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. ..
ORDINANCE NO. 11, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE MAYOR TO ENTER INTO A LEASE AGREEMENT
BETWEEN THE CITY AND COLORADO STATE UNIVERSITY FOR
THE "OLD POWER PLANT SITE" LOCATED AT
430 NORTH COLLEGE AVENUE
WHEREAS, the City is the owner of certain real property located at 430
North College, known as the Old Power Plant Site (the "Site") ; and
WHEREAS, pursuant to Sections 23-I11 and 23-114 of the Code of the City of
Fort Collins, the Council of the City of Fort Collins ("Council") is authorized
to lease interests in real property owned in the name of the City, provided
Council first finds that tha iease Ts- irrr tie- best interests of the City, that; the-
lease does not materially impair the viability of the Light and Power utility
system and that the lease will be for the benefit of the citizens of the City;
and
WHEREAS, the Site is no longer needed by the City Light and Power Utility
for utility purposes; and
WHEREAS, in 1992, the City advertised the Site for lease, rent or sale in
a local newspaper; and
WHEREAS, the City received two proposals for the use of the Site; and
WHEREAS, the Council determined through an open and competitive process
that the proposal from Colorado State University ("CSU") to use the Site as an
engines and energy conversion laboratory provided the City with an opportunity
to preserve the historic character of the Site, while utilizing it for beneficial
public purposes; and
WHEREAS, pursuant to Resolution 92-77 of the Council of the City of Fort
Collins, the City and CSU entered into a lease agreement whereby CSU took
occupancy of the site from May 21, 1992 until May 21, 1993 and thereafter has
been occupying the site as a tenant at sufferance; and
WHEREAS, the Council believes that the continued use of the Site by CSU for
energy efficiency and air quality research is in the best interests of the City
and serves a valid public purpose; and
WHEREAS, to facilitate the continued use of the Site as a research
laboratory for the aforementioned purposes, the City wishes to execute a new
lease of the Site to CSU; and
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1. That the City Council finds:
(a) that the lease of the Site to CSU on the terms and
conditions contained in Section 2 below, is in the best
interests of the City and serves a bona fide public purpose,
and
(b) that the lease will not materially impair the viability
of the Light and Power Utility system as a whole and will be
for the benefit of the citizens of the City.
Section 2. That, in consideration of the rental payment by CSU of Twenty-
five Dollars ($25.) and other promises made by CSU as contained in the lease, the
Mayor is hereby authorized to execute a lease with CSU for use of the Site, which
lease shall include the following terms and conditions:
- The length of the lease shall be for ten years with three
five year automatic renewals. The City may summarily cancel
the lease for cause, and either party may terminate the lease
upon two years notice without cause. CSU shall be responsible
for all costs of removing its equipment from the Power Plant
upon cancellation.
- The lease rate shall be $1 per year for twenty-five years
payable in advance. In addition, CSU shall be responsible for
grounds maintenance, interior building improvements, and
historical preservation.
- The City shall pay for any environmental clean-up may which
may have been made necessary by the City's use of the property
as an electric generating power plant or other City use. CSU
shall be responsible for any environmental costs that may be
a consequence of its use.
- CSU shall follow all applicable City codes and policies,
including the sign code and Landmark Preservation rules and
regulations; and
- CSU shall be required to obtain permission from the City
prior to making any structural improvements or changes to the
leasehold premises.
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Introduced, considered favorably on first reading, and ordered published
this 1st day of February, A.D. 1994, and to be presented f final passag the
15th day of February, A.D. 1994.
Mayor
ATTEST: l
City Clerk
Passed and adopted on final reading this 15th f February, 19i14.
ayor
ATTEST:
nn
City Clerk ( no3
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