Loading...
HomeMy WebLinkAbout2009-083-09/01/2009-APPROVING THE POSTING OF A BOND IN LIEU OF PAYMENT OF STREET OVERSIZING CAPITAL IMPROVEMENT EXPANSIO RESOLUTION 2009-083 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE POSTING OF A BOND IN LIEU OF PAYMENT OF STREET OVERSIZING CAPITAL IMPROVEMENT EXPANSION FEES WHEREAS,Section 7.5-19 of the City Code generally requires the payment of development fees prior to or at the time of issuance of the first building permit for the property to be developed but also states that City Council may approve by resolution an agreement between the City and the fee payer deferring the payment of said fees; and WHEREAS, Fort Collins Brewery is planning a development project that includes a 34,000 square foot building at the northwest corner of Lincoln Avenue and Lemay Avenue (the"Project') for the relocation of its operations; and WHEREAS, the current economic climate is endangering the ability of the Fort Collins Brewery to complete its Project; and WHEREAS, City staff has recommended cost saving measures, including phasing the Project, but the payment of the Street Oversizing Capital Improvement Expansion Fee (the "Fee") at the time of issuance of the building permit will still adversely affect the viability of the Project; and WHEREAS, City staff is recommending that Fort Collins Brewery be authorized to post a bond to secure the payment of the Fee in twelve months when additional funding will be available to Fort Collins Brewery. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that Fort Collins Brewery is hereby allowed to post a bond in lieu of payment of the Street Oversizing Capital Improvement Expansion Fee at the time of issuance of the building permit for a period of twelve(12)months at which time the Street Oversizing Capital Improvement Expansion Fee will be due and payable. Passed and adopted at a regular meeting o4Cocil the City of Fort Collins this I st day of September A.D. 2009. :ATTEST: Aktl City Clerk