|
RESOLUTION NO. 73
<br />SERIES 2016
<br />A RESOLUTION APPROVING A CONTRACT TO EXCHANGE REAL ESTATE
<br />BETWEEN THE CITY OF LOUISVILLE AND 608 STUDIOS, LLC FOR THE
<br />EXCHANGE OF PORTIONS OF PROPERTIES LOCATED AT 608, 612, AND 624
<br />MAIN STREET
<br />WHEREAS, the City of Louisville is the owner of certain real property having the address
<br />of 612 and 624 Main Street in Louisville, and legally described as Lots 9 and 10, Block 4, Town of
<br />Louisville, County of Boulder, State of Colorado, excepting that 113 -square foot portion of Lot 10,
<br />Block 4, legally described in General Warranty Deed dated August 24, 2016, from Blue Parrot, Inc.
<br />to City of Louisville (the "City Property"); and
<br />WHEREAS, 608 Studios, LLC ("608 Studios") is the owner of certain real property having
<br />the address of 608 Main Street in Louisville, and legally described as Lot 8, Block 4, Town of
<br />Louisville, County of Boulder, State of Colorado (the "608 Property"); and
<br />WHEREAS, the City and 608 Studios desire to exchange certain portions of the City
<br />Property and the 608 Property so that, after such exchange, the City will own the easterly 105 feet,
<br />more or less, of the of 608 Property, and 608 Studios will own the westerly 45 feet, more or less, of
<br />the City Property; and
<br />WHEREAS, after such exchange, the City will own a 14,640 square foot parcel, more or
<br />less, and 608 Studios will own a 6,247 square foot parcel, more or less; and
<br />WHEREAS, such exchange of property will create the opportunity for 608 Studios to
<br />construct a building facing Main Street, and the opportunity for the City to modify the existing
<br />parking lot to yield additional parking spaces and create the potential for a future parking structure
<br />location; and
<br />WHEREAS, for the purpose of such exchange there has been submitted to City Council a
<br />Contract to Exchange Real Estate ("Exchange Contract") for the exchange of approximately the
<br />easterly 105 feet of the 608 Property for approximately the westerly 45 feet of the City Property
<br />upon terms and conditions mutually agreeable to the City and 608 Studios; and
<br />WHEREAS, the City Council by this Resolution desires to approve the Exchange Contract
<br />and approve other actions in connection with the acquisition of the Property;
<br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
<br />OF LOUISVILLE, COLORADO:
<br />Section 1. That certain Contract to Exchange Real Estate between the City of Louisville
<br />and 608 Studios, LLC ("Exchange Contract"), a copy of which Exchange Contract accompanies
<br />this Resolution, is hereby approved.
<br />Resolution No 73, Senes 2016
<br />Page 1 of 2
<br />
|