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HomeMy WebLinkAbout1995-179-12/19/1995-LARIMER COUNTY NATURAL AREA PURCHASE 315 ACRES REGION BETWEEN TAFT HILL PROPERTIES LLC RESOLUTION 95-179 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE PURCHASE OF THREE HUNDRED AND FIFTEEN ACRES OF LAND FOR NATURAL AREA PURPOSES WHEREAS, in the November 1992 General Election,the citizens of the City of Fort Collins approved a one-quarter cent sales tax for the purpose of acquisition and maintenance of natural areas; and WHEREAS, in the November 1995 General Election, the citizens of Latimer County approved a one-quarter cent sales tax for the purpose of acquisition and maintenance of open space (the"County Sales Tax")and the City of Fort Collins will receive a share of said tax proceeds; and WHEREAS, one of the objectives of the Natural Areas Policy Plan, as adopted by the City Council, is to establish a system of publicly-owned natural areas to protect the integrity of critical conservation sites, protect corridors between natural areas,preserve outstanding examples of Fort Collins' diverse natural heritage and provide a broad range of opportunities for educational, interpretive, and recreational programs to meet community needs; and WHEREAS,one of the goals of the Plan for the Region Between Fort Collins and Loveland, as adopted by the City Council, is to preserve significant open lands in the region between the two communities,including agricultural areas,natural areas,viewsheds,and potential trail corridors; and WHEREAS,the City anticipates that Taft Hill Properties,L.L.C.may be willing to enter into a contingent purchase and sale agreement (the "Agreement") with the City whereby the City may acquire approximately three hundred and fifteen(315) acres of land and improvements southwest of Fort Collins for public natural areas and open space purposes, which land is located west of Taft Hill Road and adjacent to the City-owned Coyote Ridge Natural Area,as more particularly described on Exhibit"A" attached hereto and incorporated herein by this reference ("the Property"); and WHEREAS,the Property is located within an open space corridor identified in the Plan for the Region Between Fort Collins and Loveland and adjacent to the City-owned Coyote Ridge Natural Area; and WHEREAS, upon execution of the Agreement, the City would be in a position to acquire said Property for the cash sum of Six Hundred Ninety-three Thousand Dollars ($693,000), with the closing to occur on or before January 1, 1996; and WHEREAS, Latimer County has expressed willingness to reimburse the City for one-half of the purchase price,or Three Hundred Forty-six Thousand Five Hundred Dollars($346,500),once sufficient funds become available from the County Sales Tax; and WHEREAS, sufficient funds are available and appropriated in the Natural Areas Project in the Capital Projects Fund for the acquisition of the Property and additional funds are available in the Capital Projects Fund for maintenance of the Property following acquisition; and WHEREAS, the Council has determined that the purchase price of the Property is fair and reasonable and in the best interests of the citizens of the City; NOW,THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS-as follows: Section 1. That the City Manager is authorized to execute an agreement of purchase and sale with Taft Hill Properties, L.L.C., upon such terms and conditions as may be acceptable to the City Manager and City Attorney, together with such other documents as are necessary to fully perform the City's obligations thereunder,to acquire approximately three hundred and fifteen(315) acres of land, as more particularly described on attached Exhibit"A," for a cash purchase price of Six Hundred Ninety-three Thousand Dollars ($693,000). Section 2. That the City staff shall present to the City Council by April 1, 1996, an intergovernmental agreement with Larimer County to define the terms of repayment and future long- term management of the property. Section 3. That the three hundred and fifteen (315) acres of land, while owned by the City, shall be used solely for public natural area and open space purposes and that in the event that the City Council subsequently determines that it is in the best interests of the City to sell or otherwise dispose of all or any portion of the Property, the proceeds of such sale shall be dedicated to the acquisition or maintenance of other public natural areas. Passed and adopted at a regular meeting of the Council=ofFortd this 19th day of December, A.D. 1995. ayor ATTEST: �1 City Clerk EXHIBIT "A" Legal Description That tract of land more particularly described as follows: The E %z of Section 16, Township 6 North, Range 69 West of the 6th P.M., less Book 1548, Page 626, as recorded in the office of the Clerk and Recorder for the County of Larimer, State of Colorado. and That tract of land more particularly described as follows: Commencing at the S'/< corner of Section 16, Township 6 North, Range 69 West of the 6th P.M., thence N 00119'01" E 100.01 feet,thence S 88°54'30" E 2655.8 feet, thence S 00°21'47" W 100.01 feet, thence N 88°54'30" W 2655 feet to the point of beginning.