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HomeMy WebLinkAbout1995-072-06/06/1995-725 EAST VINE DRIVE ADVANCED DRAINAGE SYSTEMS INC GROUND LEASE RESOLUTION 95-72 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING A ONE-YEAR GROUND LEASE, WITH OPTION TO RENEW FOR A SECOND YEAR, OF CITY-OWNED PROPERTY AT 725 EAST VINE DRIVE TO ADVANCED DRAINAGE SYSTEMS, INC. WHEREAS, the City of Fort Collins ("the City") is the owner of three (3) acres of real property located at 725 East Vine Drive ("the Property"); and WHEREAS, the Property is part of an area planned for future expansion by the Streets Department to be used for its asphalt operations area and, therefore, will not be needed by the City during the next two years; and WHEREAS, Advanced Drainage Systems, Inc., ("ADS") has offered to lease the Property from the City on the terms and conditions set forth in the Lease Agreement attached hereto as Exhibit "A" and incorporated herein by reference ("the Lease Agreement"); 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 for a term of two (2) years or less, provided that Council first finds, by resolution, 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 entering into the Lease Agreement with ADS is in the best interests of the City. Section 2. That the City Manager is hereby authorized to enter into the Lease Agreement with ADS on behalf of the City. Passed and adopted at a regular meeting of the City Cou eldlthis 6th day ne, 1995. ayor ATTEST: City Clerk HI BOON OOUL F CLA � u a � a 3 W W HICKORY w ONIptR C' J m \ NEuLutx \ PING c i \ � \ m A(N W l o w a VINE w U / I JI <I / i a / I � a \RRI �� 9UCKINGHAU �\ ILL C H A'O Q`2 V 11APL �\ \ LO iAN LOGAN U� O \ \ o LA POR E \ U \ LINCOLN LINCOLN NOUN AIN U OUNTAI \ I I y y Uo � fi CAI OAK C.rO P(C)11 9t-199 ErAK INC 5cele LSO mU..: ,eV of;Clty of For[COMM(303)221-6279 Address Status S Ft BR Bath List Price Date Sold Price 725 E VINE DR l Location Map �