HomeMy WebLinkAbout205 - 01/16/2007 - AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 424 PINE STREET FOR UP TO TWENTY YEARS ORDINANCE NO. 205, 2006
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY
AT 424 PINE STREET FOR UP TO TWENTY YEARS
WHEREAS, the City of Fort Collins is the owner of the property located at 424 Pine
Street, Fort Collins, Latimer County, Colorado (the"Property"); and
WHEREAS, in 1985 the City leased the Property to Latimer Community Services
Corporation, now United Way of Latimer County, Inc. ("United Way"), to be used for
construction and operation of an office building for human services agencies; and
WHEREAS, the 1985 lease has now expired, and United Way desires to continue leasing
the Property for human services purposes which will benefit the community at large; and
WHEREAS, the proposed lease agreement provides for a twenty-year lease term in
exchange for payment of nominal rent in the amount of $5.00 per year and compliance with
certain terms and conditions including restrictions on the use of the Property and an obligation to
maintain the Property; and
WHEREAS, upon termination of the new lease the building constructed by United Way
on the Property will become the property 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 RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the Council hereby finds that leasing the Property at 424 Pine Street
under the terms listed above is in the best interests of the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute a negotiated lease
agreement 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 19th day of
December, A.D. 2006, and to be presented for final passage on the 16th day of January, A.D.
2007.
ATTEST: Mayor
City Clerk
Passed and adopted on final reading on the 16th d4Mayo
,uary, A.D. 2007.
ATTEST:
City Clerk