Ordinance 2007-1520 - Laserfiche WebLink

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ORDINANCE NO. 1520 SERIES 2007 AN ORDINANCE AUTHORIZING THE PAYMENT OF CITY MONEYS FOR THE ACQillSITION OF REAL ESTATE FOR OPEN SPACE AND OTHER PURPOSES, INCLUDING SUBDIVISION AND SALE OF A PORTION OF SUCH PROPERTY TO DEFRAY THE COSTS OF A4CQUISITION, AND AUTHORIZING THE SALE TO BOULDER COUNTY OF CONSERVATION EASEMENTS IN GROSS IN PORTIONS OF SUCH PROPERY WHEREAS, the City of Louisville intends to enter into a Purchase Contract to Buy and Sell Real Estate with the Andrew Damyanovich Trust and Lillian J. Damyanovich Trust, for the acquisition of approximately 12.80 acres of property owned by the Damyanovich family; and WHEREAS, the property lies in the NE ~ of the SW ~ of Section 13, Township 1 South, Range 70 West of the 6th P.M., at the western terminus of Dyer Road (Dillon Road extended), and is more particularly described and depicted in Exhibit A, attached hereto and incorporated herein (the "Property"); and WHEREAS, Louisville shall pay the owner a total of one million seventeen thousand five hundred dollars ($1,017,500.00), for the Property; and WHEREAS, the City intends to acquire approximately 11.3 acres of the Property for open space and right of way purposes, incJluding right-of-way for municipal, county and/or U.S. Highway 36 purposes; and WHEREAS, the City intends to acquire the remaining area of the Property, consisting of approximately 1.5 acres and containing the existing house, bam and residential accessory structures, not as park or open space or for any other municipal or governmental purposes, but solely as excess property which the City shall sell and dispose of after acquisition thereof (such portion of the Property is hereinafter referred to as lthe "Residential Lot"); and WHEREAS, the City further intends, upon acquisition of the Property, to sell to the County of Boulder conservations in gross over certain portions of the Property; and WHEREAS, the City Council by this ordinance desires to identify the source of funding for such purchase, to authorize such sale to the County of Boulder of conservation easements in gross, and otherwise comply with applicable laws regarding the acquisition of the Property. NOW, THEREFORE, BE ][1' ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Unless other funds become available for use by the City as determined by the City Council, moneys from the City Conservation Trust Fund - Land Acquisition shall be used to pay at closing the amount of one million seventeen thousand five hundred dollars 1