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HomeMy WebLinkAbout2003-032-03/25/2003-AUTHORIZING A ONE-YEAR LEASE OF CITY-OWNED PROPERTY AT 1506A WEST HORSETOOTH ROAD RESOLUTION 2003-032 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING A ONE-YEAR LEASE OF CITY-OWNED PROPERTY AT 1506A WEST HORSETOOTH ROAD,FORT COLLINS, COLORADO WHEREAS, in April 2001, the City Council adopted Ordinance No. 48, 2001, amending Chapter 23 of the Code of the City by the addition of a new Article XI entitled"Land Banking";and WHEREAS,Ordinance No. 048, 2001,contains a determination made by the City Council that the acquisition of real property in order to ensure the property will be available for future development to provide housing for extremely low and very low income families would be in the best interests of the citizens of the city; and WHEREAS, Ordinance No. 48, 2001, further stated that the proposed program for the banking of real property for the purpose of assisting housing providers in providing housing for extremely low and very low income families would not negatively impact the local real estate market, due to the anticipated volume of property purposes the program would entail; and WHEREAS,as part of the land banking program established pursuant to Ordinance No.48, 2001, known as the Affordable Housing Land Bank Program(the"Land Bank Program"), the City of Fort Collins acquired the property at 1506A West Horsetooth Road, in Fort Collins (the "Property"), in February, 2003; and WHEREAS,City staff has begun negotiation of a lease of the Property for a term of one year, with an additional one year renewal term, at the City's option, at a monthly rate of at least$1,400; and 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 interest 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 Property at 1506A West Horsetooth Road under the terms listed above is in the best interests of the City of Fort Collins. Section 2. That the City Manager is hereby authorized to execute a negotiated Lease Agreement consistent with the terms of the Resolution, together with such additional terms and conditions as the City Manager,in consultation with the City Attorney,determines to be appropriate to protect the interests of the City. Passed and adopted at an adjourned meeting of the City Council held this 25th day of March, A.D. 2003. Mayor ATTEST: - O'UL V - City Clerk