HomeMy WebLinkAbout123 - 08/17/2004 - AUTHORIZING THE AMENDMENT OF THE LEASE OF CITY-OWNED PROPERTY AT 430 NORTH COLLEGE AVENUE TO COLORAD ORDINANCE NO. 123, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE AMENDMENT OF THE LEASE
OF CITY-OWNED PROPERTY AT
430 NORTH COLLEGE AVENUE, FORT COLLINS, COLORADO,
TO COLORADO STATE UNIVERSITY
WHEREAS,the City of Fort Collins,Colorado(the"City") is the owner of property known
as the "Old Power Plant" located at 430 North College Avenue, Fort Collins, Latimer County,
Colorado (the "Property"); and
WHEREAS, the Property was once used as the City's Power Plant but is no longer needed
by the City for utility purposes; and
WHEREAS, Colorado State University ("CSU") has been leasing this site for its small
engine research laboratory since February 15, 1994; and
WHEREAS, CSU has requested that its current lease be amended by adding another five-
year extension period and by increasing the termination notice period to five years; and
WHEREAS, leasing the Property to CSU for use as a small engine lab has been a benefit
to the community by contributing to the City's local economic vitality,as well as national and global
sustainability; and
WHEREAS, leasing the Property to CSU also benefits the City by reducing the City's cost
for maintenance and utilities, and the occupation of the Property discourages vandalism; and
WHEREAS, under Section 23-111 of the Code of the City of Fort Collins, the Council is
authorized to sell, convey or otherwise dispose of any interest in real property owned by the City
that is used as part of one of the City's utility systems,provided the Council first finds by ordinance
that such disposition will not materially impair the viability of the utility system as a whole, that it
will be for the benefit of the City's citizens, and that it is in the best interests of the City; 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,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 Council hereby finds that amending the lease to CSU for the Property
at 430 North College Avenue as provided herein is in the best interests for the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute a lease amendment
agreement for the Property, consistent with the terms of this Ordinance, together with such
additional terms and conditions as the City Manager, in consultation with the City Attorney,
determines to be necessary and appropriate to protect the interests of the City.
Introduced, considered favorably on first reading, and ordered published this 20th day of
July, A. D. 2004, and to be presented for final passage on the 17th day of August, A.D. 2004.
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Mayor
ATTEST:
A
City Clerk
Passed and adopted on final reading on the 17th day of August, A.D. 2004.
Mayor `
ATTEST:
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City Clerk