HomeMy WebLinkAbout1984-064-04/03/1984-AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH THE BURLINGTON NORTHERN RAILROAD AND TH 0 RESOLUTION 84- 64 •
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE CITY MANAGER TO ENTER INTO AN
AGREEMENT WITH THE BURLINGTON NORTHERN RAILROAD
AND THE FORT COLLINS DOWNTOWN DEVELOPMENT
AUTHORITY FOR THE PURPOSE OF RELOCATING THE
BURLINGTON NORTHERN DOWNTOWN RAILROAD YARD
WHEREAS, it is the determination of the City of Fort Collins, the Fort
Collins Downtown Development Authority (DDA) and the Burlington Northern
Railroad (Railroad) that it is in the best interests of said parties that
the Fort Collins Burlington Northern Downtown Railroad Yard be relocated
to the Burlington Northern north yard; and
WHEREAS, the City and the DDA have determined that it is in their best
interests to make compensation to the Railroad for the aforesaid relocation
in the aggregate sum of Seven Hundred Thousand Dollars ($700,000) , Four
Hundred and Twenty-Seven Thousand Dollars ($427 ,000) of which shall be paid
by the DDA and Two Hundred and Seventy-Three Thousand Dollars ($273,000) of
which shall be paid by the City, and upon such other terms and conditions
that are contained in the agreement which has been negotiated among the
parties; and
WHEREAS, such relocation will be of particular benefit to the City in
that Mason Street, as it is presently configured, may be extended northward
from Mountain Avenue to Cherry Street, completing a necessary traffic
connection as well as making available additional commercial property for
development along Mason Street; and
WHEREAS, the Council of the City of Fort Collins has determined that
it is in the best interests of the citizens of the City that said agreement
be executed and relocation accomplished.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the City Manager be, and he hereby is, authorized to enter
into an agreement among the City of Fort Collins, the Burlington Northern
Railroad and the Fort Collins Downtown Development Authority for the
purpose of accomplishing the relocation of the Fort Collins Burlington
Northern Railroad Yard upon payment to the Railroad of Seven Hundred
Thousand Dollars ($700,000) , Two Hundred and Seventy-Three Thousand Dollars
($273,000) of which shall be paid by the City and Four Hundred and Twenty-
Seven Thousand Dollars ($427,000) of which shall be paid by the DDA, and
upon such other terms and conditions as are contained in said Relocation
Agreement.
Passed and adopted at a regular meeting of the City Council held this
3rd day of April , A.D. 1984.
Mayor
ATTEST:
City Clerk