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HomeMy WebLinkAbout1976-070-10/26/1976-SETTING FORTH THE INTENT OF THE CITY COUNCIL ON CERTAIN MATTERS CONNECTED WITH THE DOWNTOWN IMPROVEM RESOLUTION 76-70 OF THE COUNCIL OF THE CITY OF FORT COLLINS SETTING FORTH THE INTENT OF THE CITY COUNCIL ON CERTAIN MATTERS CONNECTED WITH THE DOWNTOWN IMPROVEMENT PROJECT AND DOWNTOWN IMPROVEMENT DISTRICT NO 1 AND CITY OF FORT COLLINS GENERAL IMPROVEMENT DISTRICT NO 1 WHEREAS, heretofore extensive studies and planning have been conducted by the City and other interested groups pertaining to the downtown area of the City of Fort Collins and WHEREAS as a result of such studies and planning, plans have been developed for the improvement of the downtown area which include improvements to the streets and other public areas designed to afford better pedestrian access and amenities and additional parking facilities to serve the downtown area and WHEREAS the City is forming a special improvement district known as Downtown Improvement District No 1 and a general improvement district known as City of Fort Collins General Improvemeni District No 1 which districts are the vehicles for the acquisition, construction and financing of the improvements contemplated for the downtown area and WHEREAS the City Council has made certain commitments and has certain intentions with relation to said districts and the implementation of the plans for improvement of the downtown area which should be established and set out as a matter of record in the proceedings of the City Council NOW THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS Section 1 The City Council recognizes that the improve- ments to be acquired and installed are improvements designed to enhance the area as a business and commercial area the business and commercial endeavors to be benefited including retail wholesale, manufacturing and rental endeavors The City Council further recognizes that within the area of the special improvem(-lit district there are single family residences maintained in such single family configuration The City Council further recognizes that the property is zoned under the zoning ordinances of the City so that a more commercial use can be made of any single family residential property within the boundaries of the district It is the opinion and finding of the City Council that properties now devoted to single family use will receive substantial benefits from the improvements to be installed in the district (both immediate and future) but that it will be more equitable if payment of the assessments for such properties is deferred until such time as the properties are converted to a more commercial use Therefore, the City Council hereby establishes its intention to defer assessments on account of the special improvement district against properties maintained in a single family configuration Such deferral will be accomplished by a program whereby owners of such properties may apply to the City for relief and the City will make the installment payments due within the district in connection with such properties, provided the owner of the properties agrees to repay all such payments at such time as the use of the property is changed from a single family use A lien on the property to secure this obligation will be required in connection with any deferment granted Section 2 It is further the finding and opinion of the City Council that although the improvements to be installed in the general improvement district will ultimately benefit properties maintained in a single family configuration, any tax to be levied by the general improvement district should not apply to properties maintained in a single family configura- tion until such time as such properties are converted to other uses Therefore, it is the intention of the City Council in forming the general improvement district that the district will give a rebate to such property owners of all amounts paid as taxes into the district so long as the property is maintained in such a single family configuration Section 3 One of the purposes of forming the general improvement district is the acquisition of parking facilities The City Council recognizes that many property owners in the district have provided their own parking It is the finding of the City Council that such private parking reduces the need for parking improvements within the area of the district and that the elimination of such parking would require substantially more parking improvements and cost in the district Therefore the City Council hereby sets forth its finding and determination that a payment should be made from funds of the general improvement district to owners of property reserved and used for parking equal to 1-1/2 cents per square foot of paved parking lot and 1/2 cents per square foot of graveled parking lot -2- Section 4 Although the proceedings establishing the general improvement district do not establish a maximum amount to be expended for the improvements to be installed in the district, it is the intent, and the City Council hereby sets forth that intent, that the improvements to be installed in the district shall not exceed a cost of $1,100, 000 00 to the extent that such improvements are paid for with funds generated by the district through taxes levied, which maximum costs shall include the cost of the improvements and all allied costs of the district including administration interest during construction, bond costs, architects or engineering costs, and the like Section 5 The City Council recognizes that the cost of the improvements to be constructed through the general improvement district and the special improvement district is estimated to exceed the maximum amount to be expended through the two districts It is the intention of the City Council that the City will make up any excess costs up to a maximum excess of $350, 000 00, with funding for such City costs to come from the seven year capital improvement program and federal community development funds received by the City as an entitlement city Passed and adopted at an adjourned meeting of the City Council held this 26th day of October, A D 1976 ATTES Mayor 0 City Clerk- -3-