HomeMy WebLinkAbout1993-024-02/16/1993-725 EAST VINE DRIVE ADVANCED DRAINAGE SYSTEMS INC LEASE STREETS FACILITY RESOLUTION 93-24
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF 3 ACRES OF CITY-OWNED PROPERTY
AT 725 EAST VINE DRIVE
WHEREAS, the City of Fort Collins is the owner of the property located at
725 East Vine Drive; and
WHEREAS, the City purchased this property for construction of a new Streets
Facility, and;
WHEREAS, Advanced Drainage Systems, Inc. wishes to lease 3 acres of this
property from the City; and
WHEREAS, the City does not anticipate a need for these 3 acres during the
term of the proposed lease, 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 it is in the best interest of the City of Fort Collins to
enter into a lease of three (3) acres of land with Advanced Drainage Systems,
Inc.
Section 2. That the Mayor be, and hereby is, authorized to enter into a
lease agreement with Advanced Drainage Systems, Inc. of three (3) acres of ground
within Tract C East Vine Streets Facility P.U.D. fora one (1) year term for rent
of SIX THOUSAND DOLLARS ($6,000) with an option for an additional one (1) year
term for rent of SIX THOUSAND THREE HUNDRED DOLLARS ($6,300) .
Passed and adopted at a regular meeting of the City Council held this 16th
day of February, 1993.
l
ayor
ATTEST:
Z
City Clerk