HomeMy WebLinkAbout051 - 04/19/1994 - AUTHORIZING THE MAYOR TO EXECUTE DEEDS AND INSTRUMENTS TO WAIVE TWO DEED RESTRICTIONS AS A CONDITION ORDINANCE NO. 51, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE MAYOR TO EXECUTE SUCH DEEDS AND INSTRUMENTS
AS ARE NECESSARY TO WAIVE TWO OF THE DEED RESTRICTIONS
REQUIRED AS A CONDITION OF THE SALE OF REAL
PROPERTY APPROVED BY CITY COUNCIL IN
ORDINANCE NO 40, 1993
WHEREAS, on May 4, 1993, the Council of the City of Fort Collins (the
"Council ") adopted Ordinance No. 40, 1993 which authorized the sale of a portion
of Tract D of the Fairbrooke SID ("the Property") to Bradley D. Pace; and
WHEREAS, pursuant to Ordinance No. 40, 1993, the Property was conveyed by
the City to Mr. Pace by a Special Warranty Deed dated May 17, 1993, ("the Deed")
which contained three deed restrictions; and
WHEREAS, the first deed restriction requires Mr. Pace to apply to the City
under Chapter 14 of the City Code for designation of the Property as a landmark
and the second deed restriction requires Mr. Pace to restore the Property and its
improvements to their historic condition within two years from the date of
conveyance ("the Deed Restrictions") ; and
WHEREAS, the City would be lawfully_ entitled to repossess the Property if
Mr. Pace fails to comply with either of the Deed Restrictions; and
WHEREAS, Mr. Pace has applied for financing to complete the improvements
to the interior of the farmhouse on the Property; and
WHEREAS, the financing will not be approved if the Deed Restrictions remain
in place; and
WHEREAS, the City designated the Property as a landmark on May 18, 1993;
and
WHEREAS, all landmarks must be restored in compliance with Chapter 14 of
the City Code; and
WHEREAS, the City Planning staff has reviewed the restoration and found it
to be in compliance with the Code, with the exception of exterior painting which
will occur in the next few months; and
WHEREAS, under Section 23-111(a) of the City Code, the Council is
authorized to dispose of any interest of the City in real property provided it
first finds that such disposition is in the best interests of the City; and
WHEREAS, since the City's purposes for the Deed Restrictions have been
substantially satisfied, it is in the best interests of the City to remove said
restrictions.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
1. The City Council finds that it is in the best interests of the City to
remove the Deed Restrictions since the City's purposes for them have been
substantially satisfied.
2. That the Mayor be, and hereby is, authorized to execute such deeds and
instruments as are necessary to remove the Deed Restrictions and to deliver such
deeds and instruments to Bradley D. Pace.
Introduced, considered favorably on first reading, and ordered published
this 5th day of April , A.D. 1994, and to be presented for final passage on the
19th day of April , A.D. 1994.
Mayor
ATTEST:
City ClerX
Passed and adopted on final reading this 19th da April , A 9
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Mayor
ATTEST:
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City Clerk