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HomeMy WebLinkAbout2008-046-05/20/2008-AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 1506B WEST HORSETOOTH ROAD, FOR UP TO TWO YEARS RESOLUTION 2008-046 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE LEASE OF CITY-OWNED PROPERTY AT 1506B WEST HORSETOOTH ROAD, FOR UP TO TWO YEARS WHEREAS, in April 2001, the Council adopted Ordinance No. 048, 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. 048, 2001, further stated that the proposed land banking program would not negatively impact the local real estate market,due to the anticipated low volume of property purchases the program would entail; and WHEREAS, as part of the land banking program, the City acquired the property at 1506B West Horsetooth Road, in Fort Collins (the"Property"), in February,2003; WHEREAS,the City desires to lease the Property for a period of up to two years at an annual rate of at least$4,200; and WHEREAS, under Section 23-114(a) of the Code of the City of Fort Collins, the Council is authorized to lease, for a definite term of two years or less, any and all interests in real property owned in the name of the City, provided that the Council first finds,by resolution, 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 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 lease agreement for the Property on terms and conditions consistent with 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,including any necessary changes to the legal description of the Property, so long as such changes do not materially increase the size or change the character of the leased premises. Passed and adopted at a regular meeting of the Co f the City of Fort Collins this 20th day of May A.D. 2008. J May ATTEST: '''' 4o City Clerk 1e!?4teYe