HomeMy WebLinkAbout1995-085-07/18/1995-AGREEMENT CONSERVATION TRUST FUND FOSSIL CREEK COMMUNITY PARK FOSSIL CREEK PARK LAKE HUNTINGTON HILL RESOLUTION 95-85
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY TO ENTER INTO AN AGREEMENT WITH
HUNTINGTON HILLS DEVELOPMENT CORPORATION L.L.C.
FOR THE CONSTRUCTION OF FOSSIL CREEK PARK LAKE
WHEREAS, the City owns one hundred acres of property in the southeast area of the City
known as Fossil Creek Community Park; and
WHEREAS, the City does not presently have a funding source to pay for the cost of
developing this community park; and
WHEREAS, Huntington Hills Development Corporation L.L.C. ("Huntington Hills") is
developing a residential subdivision near the community park; and
WHEREAS,Huntington Hills is willing to invest over$500,000 in the development of a park
lake within the community park; and
WHEREAS, the City and Huntington Hills have reached agreement on a design for the lake
which was developed through the City's 'Park Conceptual Plan" public process; and
WHEREAS, the City and Huntington Hills wish to enter into an agreement for the
construction of Fossil Creek Park Lake (the "Agreement'); and
WHEREAS, the Agreement calls for the City to expend approximately$200,000 toward the
construction of the lake; and
WHEREAS,the$200,000 is appropriated and available in the Conservation Trust Fund from
project savings in the Trails Acquisition, Development and Repair Account; and
WHEREAS, it is the intention of the Council that the Conservation Trust Fund money used
for the-construction of the-lake be-reimbursed from4he-funding source that is used to develop Fossil-
Creek Community Park once and that funding source has been identified by the City; and
WHEREAS, the public will benefit from the City entering into this Agreement because the
City will be able to provide the public with a park lake well before it would otherwise be built and
at a savings of over $500,000; and
WHEREAS,the City's Parks and Recreation Board has reviewed the proposed agreement and
the lake design and has voted unanimously to recommend that the Council authorize the City to enter
into this Agreement with Huntington Hills.
NOW,THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the City Manager is hereby authorized to enter into an agreement with
Huntington Hills Development Corporation L.L.C. for the construction of Fossil Creek Park Lake.
Section 2. That funds needed to meet the City's obligations under the construction
agreement shall be paid from the City's Conservation Trust Fund. Any monies in the Conservation
Trust Fund used to meet the City's obligations under the Agreement shall be reimbursed from the
funding source that is utilized to develop the Fossil Creek Community Park once that funding source
has been identified by the City.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this
18th day of July, A.D., 1995.
ATTEST: 1n\w a \J 1L
City Clerk
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