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HomeMy WebLinkAbout117 - 09/03/2002 - AUTHORIZING THE SALE OF APPROXIMATELY 160 ACRES OF LAND KNOWN AS THE JACOBY FARM TO LARIMER COUNTY A ORDINANCE NO. 117, 2002 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE SALE OF APPROXIMATELY 160 ACRES OF LAND KNOWN AS THE JACOBY FARM TO LARIMER COUNTY AND AUTHORIZING THE EXTENSION OF AN EXISTING AGRICULTURAL LEASE ON THE PROPERTY WHEREAS, the City of Fort Collins is the owner of that certain real property located in Larimer County,Colorado,known as Jacoby Farm,which was purchased by the Wastewater Utility for Wastewater Utility purposes, more particularly described as follows: The Southwest Quarter of Section 13, Township 6 North, Range 68 West of the 61h Prime Meridian, Larimer County, Colorado, excluding an portion contained in that certain Deed recorded February 11, 1959, in Book 1086,Page 272,Larimer County Colorado,consisting of approximately 160 acres("Jacoby Farm"or the"Property"); and WHEREAS,Jacoby Farm,which is located approximately two miles east of Interstate 25 on Colorado highway 392 along the Poudre River, was originally purchased by the City in 1990 as a possible site for a future regional wastewater treatment plant; and WHEREAS, regional water/wastewater planning completed since the time of purchase of Jacoby Farm has indicated that a regional wastewater treatment facility is not needed in that vicinity; and WHEREAS, City staff has determined that there is no longer a wastewater related use appropriate for Jacoby Farm; and WHEREAS, although City Natural Resources Department staff originally expressed an interest in acquiring Jacoby Farm for use in the City's Natural Areas Program,it was determined that the acquisition of the Property by Larimer County for its Open Lands Program would enhance the benefits associated with the transfer; and WHEREAS, the appraised value of Jacoby Farm (including the value of the 25 shares of Colorado-Big Thompson water that had not previously been severed from the Property--the"CBT Water") is $2,180,000; and WHEREAS, the appraised value of the CBT Water is $260,000; and WHEREAS, the County has agreed in principle to acquire Jacoby Farm without acquiring the CBT Water, which the City will retain, for the amount of $1,920,000, which represents the difference between the appraised value of the Property and the value of the retained CBT Water;and WHEREAS,on March 4, 1998,the City entered into a lease of Jacoby Farm to Royal Vista Equine,Inc. (the"Tenant"),for a potential term extending through February 28,2003 (the"Lease"), a copy of which is on file and available for public review in the Office of the City Clerk; and WHEREAS,the Lease allows for the use of Jacoby Farm for cultivation of alfalfa and grass mix and for livestock grazing, and requires that the City provide to the Tenant certain raw water for use on the Property; and WHEREAS, staff is not aware of any defaults or issues associated with the Lease or the use of Jacoby Farm by the Tenant, and City staff and Larimer County staff have recommended that, in order to provide for continuity of the leasehold interest and eliminate the need for a new County lease prior to the expiration of the Lease, a one-year extension of the Lease be entered into by the City prior to conveyance of Jacoby Farm, continuing at an annual lease rate of$6,000; and WHEREAS,Larimer County has proposed to take title to Jacoby Farm subject to the Lease as extended through February 2004 in accordance with this Ordinance; and WHEREAS, Section 23-111 of the City Code provides that the City Council is authorized to sell, convey or otherwise dispose of real property owned by the City, including leasing of the property, provided the Council first finds by ordinance that any sale or disposition of real property owned by the City will not materially impair the viability of any City utility system as a whole of which the property is a part, will be for the benefit of the City's citizens, and will be 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 neither the above described conveyance of Jacoby Farm nor the above described extension of the Lease for an additional one-year term will materially impair the viability of the City's wastewater utility as a whole,and that each will be for the benefit of the City's citizens, and in the best interests of the City. Section 2. That the Mayor is hereby authorized to execute such documents of conveyance or commitment as are necessary to convey Jacoby Farm to Larimer County, consistent with the terms and conditions described above. Section 3. That the Mayor is hereby authorized to execute an agreement extending the term of the Lease through February 2004,consistent with the terms and conditions described above. Introduced, considered favorably on first reading, and ordered published this 20th day of August, A.D. 2002, and to be presented for final passage on the 3rd day of September, A.D. 2002. All Mayor t IESTT. City Clerk Passed and adopted on final reading this 3rd day of September, A.D. 2002. f. Mayor ATTEST: City Clerk