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HomeMy WebLinkAbout050 - 05/16/2000 - AUTHORIZING THE PURCHASE OF 6 ACRES AT 3301 EAST PROSPECT ROAD FOR NATURAL AREA PURPOSES AND AUTHORI ORDINANCE NO. 50, 2000 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE PURCHASE OF 6 ACRES AT 3301 EAST PROSPECT ROAD FOR NATURAL AREA PURPOSES AND AUTHORIZING THE LEASE OF THE PROPERTY TO THE SELLER, MBI CORPORATION FOR A PERIOD OF UP TO FOUR YEARS WHEREAS,City staff has negotiated an agreement with MBI Corporation,the current owner of that certain property located at 3301 East Prospect Road, consisting of six acres with existing office building improvements, more particularly described on Exhibit "A", attached hereto and incorporated herein by this reference (the "Property"); and WHEREAS,the terms of the agreement provide that the City will pay to MBI Corporation the appraised fair market value of the Property, $340,000, in exchange for the conveyance of the Property in fee to the City; and WHEREAS,the Property is surrounded by hundreds of acres of City and CSU natural area, and the City's ownership of the Property will in the future allow the City and CSU to manage the Property consistent with the uses and needs of the surrounding natural areas; and WHEREAS,City staff has further negotiated with MBI Corporation the lease of the Property to MBI after the conveyance to the City at a lease rate of$18,000 per year, for an initial period of two years, with a possible extension for up to two additional years; and WHEREAS, the lease rate of$18,000 per year is consistent with the fair market lease rate for comparable properties; and WHEREAS,the City currently has no plans for the use of the Property during the potential four year term of the proposed lease, except for possible acquisition of new right of way for the widening of Prospect Road, and use of the building on the Property in connection with that project; and WHEREAS, under Section 23-114 of the Code of the City of Fort Collins, the Council is authorized to lease any and all interests in real property owned in the name of the City,by resolution, for a period of up to two years,and by ordinance for a longer period,provided that Council first finds that the lease 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 acquisition of the Property and lease thereof to MBI Corporation, as described herein, is in the best interests of the City of Fort Collins. Section 2. That, upon the City's acquisition of the Property, the City Manager is hereby authorized to execute a lease of the Property to MBI Corporation consistent with the terms hereof, together with such additional terms and conditions as the City Manager,in consultation with the City Attorney,may deem necessary to effectuate the purposes set forth herein or otherwise to protect the interests of the City. Introduced,considered favorably on first reading,and ordered published this 2nd day of May, A.D. 2000, and to be presented for final passage on the 16th day of May, A.D. 2000. Mayor ATTEST: I�LL City Clerk Passed and adopted on final reading this 16th day of May, A.D. 2000. Mayor ATTEST: A, /�//, �5 City Clerk - 0,e2f EXHIBIT "A" LEGAL DESCRIPTION OF THE PROPERTY PARCEL 1: A tract of land located in the NW1/4 of Section 21, Township North, Range 68 West of the art Larimer icularlycdescribed asipal pfollows: County, Colorado, more p Beginning at the NW the nWest flinel of Section thence NW1/4 of said S 0001712311 W, along oint on a line which is parallel Section 21, 30 .01 feet to a p at right angles from the to and 30 . 00 feet distant Southerly North line of the NW1/4 of said Section 21; thence S 88014, 331, E, along said parallel line, 726 .74 feet to the TRUE POINT arallel line, 352 .71 feet;8,14, 3311 � BEGINNING; thence S thence S01*45, 2711W, along said porth along a line at right angles to the Noint o e e n a line NW o n is said Section 21, 247 . 00 feet to a p parallel to and 277 .00 feet distant Southerly at right angles from the North line of the NW1/4 of said Section 21; tlinee N 88*14, 3311 W, along the last mentioned parallel 352 .71 feet to a point which bears o S 01045, 27" W from line true point of beginning; thence N line said 27 E, along riht s to Section 21, 247 00the feetNtottheTRUE POINT OF BEGINNING. PARCEL A tract of land located in the NW1/4 of Section 21, Township North, Range 68 West of the Principal Meridian asp follows: Larimer County, Colorado, more particularly Begining at the corner of flinel of Section the NW1/4 of thence S 00017, 2311W, along parallel Section 21, 30 . 01 feet to a point on a line which is om the to and 30 . 00 feet distant Southerly at right angles frthence North line of the NW1/4 of said Sto ection 21; S 88*14, 3311 E, along said parallel line, 1079 .45 feet in the uing TRUE POINT OF BEGINNING; 56 thence feet to the 11 E, coat f the along said parallel line, the tract described in Book 1363 at Page 527 of the West line of County records; thence S 03 p413311 , alonga line which is parallel said tract, 248 .21 feet to a point on to and 277 . 00 feet distant Southerly at right angles from the Sectionof said thence North line of the NWhe4 last mentioned parallel line, N 88 14 33 W, along 610 . 95 feet to a point which bears S 01745E , W from line rat point of beginning; thence N O10 45 the e NW1/4, 247 . 00 feet to E, along right angles to the North line of the TRUE POINT OF BEGINNING.