HomeMy WebLinkAbout122 - 08/17/2004 - AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 400 WOOD STREET FOR UP TO FIVE YEARS ORDINANCE NO. 122, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY
AT 400 WOOD STREET FOR UP TO FIVE YEARS
WHEREAS, the City of Fort Collins, Colorado (the "City"), is the owner of the property
legally described as Lots 25 and 26, Block 294, West Side Addition, Fort Collins, located at 400
Wood Street, Fort Collins, Colorado (the "Property"); and
WHEREAS, Foothills Gateway, Inc. has proposed to lease the Property for the principal
purpose of providing relief to Larimer County parents and host families of adults with
developmental disabilities; and
WHEREAS, the above-described use of the City Property will advance important human
services objectives of the City, and the Lease Agreement will permit the use of the Property,
consistent with the objectives of the Community Development Block Grant, to benefit low
income residents of Fort Collins; and
WHEREAS, the Lease Agreement provides for a five-year lease term, with the option
for two five-year renewal terms, in exchange for payment of nominal rent in the amount of$5.00
per year and compliance with certain conditions and restrictions set forth therein; and
WHEREAS, pursuant to 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 proposed lease of the Property to Foothills Gateway, Inc. is in the
best interests of the City.
Section 2. That the City Manager is hereby authorized to execute a lease agreement for
the Property, consistent with the terms of this Ordinance, together with such additional terms and
conditions as the City Manger, 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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R'KTEST;
Cittyj��jClerk
Passed and adopted on final reading on the 17th day of August, A.D. 2004.
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Mayor
ATTEST:
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City Clerk