HomeMy WebLinkAbout2009-081-08/18/2009-AUTHORIZING THE ACQUISITION OF CERTAIN LANDS FOR WATER STORAGE AND NATURAL AREA RESOLUTION 2009-081
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE ACQUISITION OF CERTAIN LANDS FOR WATER STORAGE
AND NATURAL AREA
WHEREAS,Stoner and Company("Stoner")is the owner of approximately 128 acres of land
located at 4308 East County Road 36,Fort Collins,Larimer County, Colorado,as more particularly
described on Exhibit "A", attached and incorporated herein by reference (the "Property"); and
WHEREAS,the City wishes to purchase the Property for the primary purpose of gravel pit
water storage and also to preserve an open space amenity along the Interstate 25 corridor; and
WHEREAS, the City and Stoner entered into an Agreement of Purchase and Sale of Real
Property dated July 30,2009(the"Agreement'),for purchase of the Property,contingent on Council
approval of the purchase by this Resolution; and
WHEREAS, a copy of the Agreement is on file in the office of the City Clerk; and
WHEREAS, the Property currently has approximately 800 acre feet of water storage; and
WHEREAS,under the terms of the Agreement, Stoner would increase the;water storage on
the Property to 1,500 to 2,000 acre feet in accordance with specifications to be provided by the City,
and upon satisfactory completion of the work the City would purchase the Property for$5.8 million;
and
WHEREAS, the cost of the Property would be divided between the Utilities and Natural
Areas funds with Utilities paying $5.5 million of the purchase price'and Natural Areas paying the
remaining $300,000; and
WHEREAS,the funds necessary for acquisition of the Property have been appropriated and
are available for expenditure for that purpose; and
WHEREAS, based on-an evaluation of the market value of the Property and the existing
water storage, and of the cost to construct additional storage on the Property, City staff believes the
proposed price for the Property is fair and reasonable, and recommends that the City Council
approve the proposed acquisition; and
WHEREAS, the Council has determined that the purchase price is fair and reasonable and
that the acquisition of the Property is in the best interests of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Council hereby approves the acquisition of the Property_, consisting of
approximately 128 acres of land as described on Exhibit "A", for an amount not to exceed $5.8
million,in accordance with the terms and conditions contained in the Agreement,together with such
additional terms and conditions as the City Manager, in consultation with the City Attorney,deems
necessary and appropriate to protect the interests of the City or to effectuate the purposes of this
Resolution, including, but not limited to, 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
Property.
Passed and adopted at a regular meeting of the Cou the City of Fort Collins this 18th
day of August A.D. 2009.
O /
ATTEST:
City Clerk
EXHIBIT A
Legal Description
PARCEL A
A PARCEL OF LAND SITUATE IN THE SOUTHWEST QUARTER OF SECTION 3,
TOWNSHIP 6 NORTH, RANGE 68 WEST OF THE 6TH P.M.; COUNTY OF LARIMER,
STATE OF COLORADO; BEING THE SAME TRACT OF LAND AS DESCRIBED IN THE
WARRANTY DEED RECORDED AUGUST 29, 2005 AT RECEPTION NO. 2005-
0072387: AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE WEST QUARTER CORNER OF SAID SECTION 3, AND
CONSIDERING THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 3
TO HAVE AN ASSUMED BEARING OF N 01044'18" W (NORTH END OF SAID LINE
BEING MARKED BY AN ILLEGIBLE 3-1/4" ALUMINUM CAP IN MONUMENT BOX,
AND SOUTH END OF SAID LINE BEING MARKED BY A 2-1/2" ALUMINUM CAP
STAMPED LS 33193 IN MONUMENT BOX), WITH ALL OTHER BEARINGS RELATIVE
THERETO;
THENCE S 87052'12" E, 2,388.22 FEET TO A POINT ON THE WESTERLY RIGHT OF
WAY LINE OF INTERSTATE 25;
THENCE ALONG SAID RIGHT OF WAY LINE THE FOLLOWING FOUR(4) COURSES:
1. S 02002'35" E, 2,339.03 FEET;
2. 135.78 FEET ALONG THE ARC OF A NON-TANGENT CURVE TO THE RIGHT,
HAVING A RADIUS OF 11,295.00 FEET, A CENTRAL ANGLE OF 00041'l9", AND A
CHORD WHICH BEARS S O1043'14" E, 135.77 FEET;
3. THENCE S 84055'54" W, 574.56 FEET;
4. THENCE S 00055'24" W, 30.00 FEET TO A POINT ON THE SOUTH LINE OF THE
SOUTHWEST QUARTER OF SAID SECTION 3;
THENCE ALONG SAID SOUTH LINE,N 89004'36" W, 1,274.18 FEET;
THENCE N 090 16'32" W, 324.41 FEET;
THENCE N 01046'32" W, 289.41 FEET;
THENCE N 32046'32" W, 144.50 FEET;
THENCE N 23039'02" W, 631.96 FEET;
THENCE N 01050'02" E, 208.47 FEET;
THENCE N 170 13'48" W, 746.06 FEET;
THENCE N 46009'32" W, 10.66 FEET TO A POINT ON THE WEST LINE OF THE
SOUTHWEST QUARTER OF SAID SECTION 3;
THENCE ALONG SAID WEST LINE,N O1049'14" W, 384.29 FEET TO THE POINT OF
BEGINNING.