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
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,eV of;Clty of For[COMM(303)221-6279
Address Status S Ft BR Bath List Price Date Sold Price
725 E VINE DR
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