HomeMy WebLinkAbout085 - 10/06/2009 - AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 1506A WEST HORSETOOTH ROAD FOR UP TO FIVE YEARS ORDINANCE NO. 085, 2009
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
1506A WEST HORSETOOTH ROAD FOR UP TO FIVE YEARS
WHEREAS, in April 2001, the City Council adopted Ordinance No. 048, 2001,
amending Chapter 23 of the City Code by the addition of a new Article XI entitled "Land
Banking"; and
WHEREAS, Ordinance No. 048, 2001 contained a determination made by the City
Council that the acquisition of real property in order to ensure the property will be available for
future development to provide housing for extremely low and very low income families would
be in the best interests of the citizens of the City; and
WHEREAS, Ordinance No. 048, 2001 further stated that the proposed program for the
banking of real property for the purpose of assisting housing providers in providing housing for
extremely low and very low income families would not negatively impact the local real estate
market, due to the anticipated volume of property purchases the program would entail; and
WHEREAS, in February, 2003, the City acquired the property at 1506A West Horsetooth
Road, in Fort Collins (the "Property") as part of the land banking program established pursuant
to Ordinance No. 048, 2001, known as the Affordable Housing Land Bank Program (the "Land
Bank Program"); and
WHEREAS, the City has leased the Property since 2003 and desires to continue leasing
the Property for a period of up to five years at an annual rate of at least $14,400; and
WHEREAS, under Section 23-111 of the City Code, the City Council is authorized to
dispose of any and all interests in real property owned in the name of the City, provided that the
City Council first finds, by ordinance, that such disposition is in the best interest of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the City Council hereby finds that the lease of the property at 1506A
West Horsetooth Road as provided herein is in the best interests of the City.
Section 2. That the City Manager is hereby authorized to execute a negotiated Lease
Agreement for the Property consistent with the terms of this Ordinance, together with such
additional terns and conditions as the City Manager, in consultation with the City Attorney,
deems necessary and appropriate to protect the interests of the City or to effectuate the purposes
of this Ordinance, including but not limited to, any necessary changes to the description of the
Property, so long as such changes do not materially increase the size or change the character of
the property to be leased.
Introduced, considered favorably on first reading, and ordered published this 18th day of
August, A.D. 2009, and to be presented for final passage on the ay of October, A.D. 2009.
Mayo
: ATTEST:
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City Clerk
Passed and adopted on final reading on the 6th day of October;A.D. 2009.
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'ATTEST:
City Clerk