HomeMy WebLinkAbout2005-108-10/04/2005-AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 304 NORTH HOWES STREET RESOLUTION 2005-108
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT
304 NORTH HOWES STREET
WHEREAS, the City of Fort Collins is the owner of certain real property legally
described as Lot 15, Block 33, Fort Collins, Colorado and also known as 304 North Howes
Street (the 'Property"); and
WHEREAS, per Ordinance No. 077, 2005, the City Council authorized the sale of a
portion of Block 33, including the Property, to Penny Flats, LLC ('Developer"), for residential
and commercial development; and
WHEREAS, until the Developer purchases the Property, which is not expected to occur
until 2008, the City desires to lease the Property, and City staff has recommended doing so for
an initial term of one year, with the option to renew for up to an additional year at a monthly rate
of at least $550;
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, provided
that Council first finds 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 the Council hereby finds that leasing the Property under the terms
described above is in the best interests for the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute a lease agreement for
the Property, consistent with the terms of this Resolution, together with such additional terms
and conditions as the City Manager, in consultation with the City Attorney, determines to be
necessary and appropriate to protect the interests of the City.
Passed and adopted at a regular meeting of the City Counc' ld this 4th day of O ober,
2005.
Mayor
TTEST:
City Clerk