HomeMy WebLinkAbout2002-069-07/16/2002-AUTHORIZING A ONE-YEAR LEASE OF CITY OWNED PROPERTY AT 3620 KECHTER ROAD RESOLUTION 2002-069
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING A ONE-YEAR LEASE
OF CITY-OWNED PROPERTY AT
3620 KECHTER ROAD, FORT COLLINS, COLORADO
WHEREAS,in April 2001,the Council adopted Ordinance No.48,2001,amending Chapter
23 of the Code of the City by the addition of a new Article XI entitled "Land Banking"; and
WHEREAS,Ordinance No.48,2001,contains 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. 48, 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 purposes the program would entail; and
WHEREAS, as part of the land banking program established pursuant to Ordinance No. 48,
2001, known as the Affordable Housing Land Bank Program(the"Land Bank Program"), the City
of Fort Collins acquired the property at 3620 Kechter Road,in Fort Collins (the"Property"), in late
2001; and
WHEREAS, the City purchased the Property with the expectation that the development of
the Property for affordable housing would not likely occur for an estimated period of five years,
based on the goals of the Land Bank Program to hold land for a minimum of five years; and
WHEREAS,City staff has begun negotiation of a lease of the Property for a term of one year,
with an additional one year renewal term, at the City's option, at a monthly rate of at least $1,400;
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 the lease of the Property at 3620 Kechter
Road 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 the Resolution, together with such additional terms and
conditions as the City Manager,in consultation with the City Attorney,determines to be appropriate
to protect the interests of the City.
Passed and adopted at a regular meeting of the City Council held this 1 h day of July,2002.
Mayor
C
ATTEST:
City Clerk