HomeMy WebLinkAbout110 - 10/01/1985 - FUNDING THE PURCHASE OF THE AREA KNOWN AS THE FORT COLLINS-LOVELAND CORRIDOR BY A TWENTY-FIVE HUNDRE •
ORDINANCE NO. 110, 1985
OF THE COUNCIL OF THE CITY OF FORT COLLINS
FUNDING THE PURCHASE OF THE AREA KNOWN AS THE
FORT COLLINS-LOVELAND CORRIDOR
8Y A TWENTY-FIVE HUNDREDTHS PERCENT ( .25%)
SALES AND USE TAX FOR FIVE YEARS
WHEREAS, the City of Fort Collins is committed to the purchase and
preservation of certain real properties situated within the Fort Collins/
Loveland Corridor, so as to maintain visual and physical separation between
the respective city limits of Fort Collins and Loveland and so as to
preserve the unique character of each City, and;
WHEREAS, the Council of the City of Fort Collins has in the past
enacted ordinances for the obtainment and collection of sales and use taxes
and is authorized to do so by Chapter 104 of the Code of the City of Fort
Collins; and
WHEREAS, a twenty-five hundredths percent ( .25%) increase in the
City's sales and use tax for a five year period is necessary to fund the
purchase of the lands and maintain and develop recreational facilities in
the area known as the Fort Collins-Loveland Corridor; and
WHEREAS, the acquisition and purchase by the City of such properties
is necessary in order to preserve the properties from other kinds of
development inconsistent with the purposes stated herein; and
WHEREAS, the City intends to pursue the immediate acquisition of the
properties and available, appurtenant water rights at fair market value
from the existing property owners; and
WHEREAS, the City intends that the Corridor properties be held in
perpetuity as public open space with uses to include farming, natural
areas, and active and passive recreational activities; and
WHEREAS, the City shall encourage the leasing of acquired Corridor
properties for the purpuse of maintaining the existing agricultural uses;
and
WHEREAS, the City considers the Corridor to be a unique parcel of land
suitable for educational and active and passive recreation uses such as:
interpretive, recreational and commuting trail systems; wildlife habitats;
an arboretum; individual garden plots; youth athletic fields; park sites;
and outdoor environmental laboratories; and
WHEREAS, the City will work with other public and private entities to
encourage their financial participation in the acquisition of Corridor
properties for the above stated purposes; and
WHEREAS, the City has programs to benefit low income residents to help
mitigate the impact of the City's sales and use tax; and
WHEREAS, the City shall develop a Master Plan to delineate the
appropriate future uses, consistent with the intent of 'the Corridor, upon
completion of acquisition of the properties.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. A City sales and use tax increase of twenty-five
hundredths percent ( .25%) for five (5) years on all sales and uses shall be
effective on January 1, 1986 and continue until December 31, 1990, at which
time such tax increase shall cease. Such increase in sales and use taxes
shall be in addition to all other sales and use taxes collected pursuant to
Chapter 104 of the Code of the City of Fort Collins.
Section 2. The revenue raised by this increase in the City's sales
and use tax shall be used exclusively for the Fort Collins-Loveland
Corridor in the following manner:
First, not more than Eleven Million Two Hundred Fifty Thousand
Dollars ($11,250,000) of this revenue shall be used for acquisition
financing and the actual purchase of approximately twenty-four hundred
sixteen (2,416) acres of land within the Corridor area, together with
available, appurtenant water rights. The property to be purchased with
this revenue is located between the Fort Collins and Loveland Urban Growth
Areas, generally bounded by County Road 32 on the north and County Road 30
on the south, extending from the foothills eastward to Fossil Creek
Reservoir. The precise number, size, and location of properties actually
acquired within this Corridor area will be determined by the purchase price
of the properties at the time of acquisition and the revenue limitations
contained in this provision.
Second, any revenues exceeding cost of purchase shall be retained
in a Corridor Fund to develop, maintain and operate appropriate facilities
in the Corridor area.
Section 3. This land shall be preserved as public open space, with
uses to include farming, natural areas and active and passive recreational
activities.
Section 4. Responsibility for management of revenues hereby generated
and the real property acquired through the use of such revenue shall be
vested in the City of Fort Collins; provided, however, that the City shall
act in concert with the governing bodies of the City of Loveland and the
County of Larimer, Colorado, respectively, to ensure the harmonious
management of all properties that may be acquired by such various
governmental entities within the Fort Collins-Loveland Corridor area.
Introduced, considered favorably on first reading, and ordered
published this 17th day of September, A.D. 1985, and to be presented for
final passage on the 1st day of October, A.D. 1985.�ola��t got' 10
ATTEST:
City Clerk
Passed and adopted on final reading this 1st day of October, A.D.
1985. / �J
Mayo& .GLII ��,i
ATTEST:
a
City Clerk