HomeMy WebLinkAbout1986-193-12/16/1986-DDA FINANCIAL PARTICIPATION LINDEN HOTEL REDEVELOPMENT RESOLUTION 86-193
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING DDA FINANCIAL PARTICIPATION IN
CERTAIN PUBLIC IMPROVEMENTS TO BE MADE IN
CONJUNCTION WITH THE LINDEN HOTEL
REDEVELOPMENT PROJECT
WHEREAS, the Fort Collins Downtown Development Authority has been duly
organized in accordance with C.R.S. , Colorado revised statutes, 1973, as
amended; and
WHEREAS, The Linden Hotel Partnership, a development corporation, has
proposed the redevelopment of the Linden Hotel located at the northwest
corner of Walnut and Linden Streets, Fort Collins, Colorado; and
WHEREAS said redevelopment project lies within the Downtown
Development Authority district; and
WHEREAS, said project meets with the goals and objectives as described
by the Downtown Development Authority Plan of Development and the City of
Fort Collins Comprehensive Plan; and
WHEREAS, said project continues and significantly contributes to the
redevelopment of Historic Old Town.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS DOWNTOWN DEVELOPMENT AUTHORITY, that it hereby approves the
financial participation in the redevelopment of the Linden Hotel not to
exceed 50 percent (50%) of an amount which can be reasonably financed
through the generation the tax increment by the completed project.
Passed and adopted at a regular meeting of the City Council held this
16th day of December, 1986.
May
ATTEST: n
1!a
City Clerk