Loading...
HomeMy WebLinkAbout124 - 09/19/2000 - APPROPRIATING UNANTICIPATED REVENUE IN THE 1/4 CENT NATURAL AREAS CAPITAL PROJECTS FUND FOR REIMBURS ORDINANCE NO. 124, 2000 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE 1/4 CENT NATURAL AREAS CAPITAL PROJECTS FUND FOR REIMBURSEMENT TOWARD THE PURCHASE PRICE OF THE COYOTE RIDGE NATURAL AREA WHEREAS, the City of Fort Collins has collaborated with the City of Loveland and Larimer County on several land conservation projects to implement the jointly adopted Plan for the Region Between Fort Collins and Loveland; and WHEREAS, one of the most significant projects has been the protection of the 841-acre area of land now known as the Coyote Ridge Natural Area, which was acquired in three separate parcels by the City of Fort Collins and Larimer County; and WHEREAS, Tract A was acquired by the City of Fort Collins in 1994 for the amount of $924,000, which represented the fair market value of Tract A; and WHEREAS, Tract B was acquired by the City of Fort Collins in 1995 for the amount of $661,500, which represented the fair market value of Tract B; and WHEREAS, Tract C is an 84-acre parcel that was acquired by Larimer County in 1997 for the total amount of $278,500, which represented the fair market value of Tract C, with assistance of the City in the amount of $185,675.95, in exchange for the conveyance to the City of a 66.67% interest therein; and WHEREAS, the aforementioned Tracts A and B were acquired by the City using funding from the dedicated 0.25 cent Sales and Use Tax for financing the acquisition and development of open space, trails and natural areas; and WHEREAS, the City Council is concurrently considering Ordinance No. 123, 2000, which when adopted on second reading on September 19, 2000, will authorize the City to enter into an intergovernmental agreement with Larimer County regarding the management of the Coyote Ridge Natural Area and authorizing the City to quit claim an undivided 28.09% interest in Tract A and Tract B to the County in exchange for $430,750, and an additional 5.24% interest in Tract C to be conveyed to the City; and WHEREAS, the receipt of funds from the County will be appropriated in the 1/4 Cent Natural Areas capital project where said appropriations will be available for the acquisition and development of open space, trails, and natural areas as identified in the Natural Areas Policy Plan and City Plan; and WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins permits the City Council to make supplemental appropriations by ordinance at any time during the fiscal year, provided that the total amount of such supplemental appropriations, in combination with all previous appropriations for that fiscal year, does not exceed the then current estimate of actual and anticipated revenues to be received during the fiscal year. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in the Capital Projects Natural Areas capital project, the sum of FOUR HUNDRED THIRTY THOUSAND SEVEN HUNDRED AND FIFTY DOLLARS ($430,750), upon receipt from Larimer County to be used for the acquisition and development of open space, trails, and natural areas. Introduced and considered favorably on first reading and ordered published this 5th day of September, A.D. 2000, and to be presented for final passage on the day of September, A.D. 2000. ayor ATTEST: - JOWL& ��kh i City Clerk Passed and adopted on final reading this 19th day of September, A.D. 2000. Mayor p•r.T,,j ATTEST: - 14�- XL & Q City Clerk