HomeMy WebLinkAbout2003-029-03/04/2003-AUTHORIZING THE LEASE OF A 17.11 ACRE TRACT OF AFFORDABLE HOUSING LAND BANK PROPERTY TO TIM RAMSEY RESOLUTION 2003-029
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE OF A 17.11 ACRE TRACT
OF AFFORDABLE HOUSING LAND BANK PROPERTY
TO TIM RAMSEY
WHEREAS, the City of Fort Collins is the owner of certain real property located at 6916
South College Avenue, Fort Collins, Colorado that is 17.11 acres in size and known as the Land
Bank-Bernhardt Property; and
WHEREAS, at the time the City purchased the 17.11 acre tract in 2002, the land was in
agricultural production; and
WHEREAS,the City of Fort Collins intends to hold the land for a period of five years before
pursuing the development of affordable housing opportunities; and
WHEREAS, City staff has negotiated with Tim Ramsey (the "Lessee") a lease of the
property,as described on Exhibit"A,"attached hereto and incorporated herein by this reference(the
"Lease Area"),for agricultural purposes,for a term of up to two years at an annual lease rate of six-
hundred dollars ($600); and
WHEREAS,the lease agreement that staff has negotiated with Tim Ramsey,called the Land
Bank Ground Lease and dated February 3, 2003, is on file in the office of the City Clerk and is
available for public review (the "Lease"); and
WHEREAS,the Lease permits the continued use of the ground for the agricultural production
of hay and permits the Lessee to utilize available water associated with the property; and
WHEREAS,Section 23-114 of the City Code authorizes the Council to approve by resolution
the lease of any and all interests in real property owned in the name of the City for a period of two
years or less, 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 the lease of the Lease Area as described herein
and as set forth in the Lease is in the best interests for the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute the Lease, together with
such additional terms and conditions as the City Manager, in consultation with the City Attorney,
determines to be necessary or appropriate to protect the interests of the City.
Passed and adopted at a regular meeting of the City Council held this 4th day of March,A.D.
2003.
Mayor
ATTEST:
City Clerk
EXHIBIT "A"
Affordable Housing Land Bank Ground Lease
LEGAL DESCRIPTION
A TRACT OF LAND SITUATE IN THE NW 1/4 OF SECTION 13, TOWNSHIP 6 NORTH, RANGE 69
WEST OF THE 6TH P.M., COUNTY OF LARIMER, STATE OF COLORADO, WHICH CONSIDERING
THE WEST LINE OF THE SAID NW 1/4 AS BEARING N 00 DEGREES 03' 30" W, AND WITH
ALL BEARINGS CONTAINED HEREIN RELATIVE THERETO IS CONTAINED WITHIN THE
BOUNDARY LINES WHICH BEGIN AT A POINT WHICH BEARS S 89 DEGREES 50, E 50.00
FEET, AND AGAIN N 00 DEGREES 05' E, 1564.48 FEET, AND AGAIN S 83 DEGREES 52,
E, 1228.44 FEET, AND AGAIN S 00 DEGREES 05' W 303.85 FEET FROM THE W 1/4 OF
SAID SECTION 13; AND RUN THENCE S 00 DEGREES 05' W, 104.55 FEET; THENCE S 72
DEGREES 57' E, 367.20 FEET; THENCE S 69 DEGREES 14' E, 161.12 FEET; THENCE S
74 DEGREES 10' 30" E, 326.74 FEET; THENCE N 86 DEGREES 29' E, 558.20 FEET TO A
POINT ON THE EAST LINE OF THE SAID NW 1/4; THENCE N 00 DEGREES 20' W, 746.50
FEET ALONG SAID EAST LINE TO A POINT WHICH BEARS S 00 DEGREES 20, E 1099.70
FEET FROM THE N 1/4 CORNER OF SAID SECTION 13; THENCE N 51 DEGREES 08' 45" W,
593.49 FEET; THENCE N 84 DEGREES 07' 30" W, 24.50 FEET; THENCE S 19 DEGREES
40' 10" W, 1031.09 FEET; THENCE N 69 DEGREES 14' W, 160.05 FEET; THENCE N 72
DEGREES 57' W, 400.95 FEET TO THE POINT OF BEGINNING.