Loading...
HomeMy WebLinkAbout09097RESOLUTION NO. 9097 A RESOLUTION APPROVING AN AMENDMENT TO GRANT AGREEMENT BETWEEN THE CITY OF PUEBLO AND THE GREAT OUTDOORS COLORADO TRUST FUND BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The Amendment To Grant Agreement dated September 11, 2000 between the City of Pueblo, as Grantee and The Great Outdoors Colorado Trust Fund, as Grantor, a copy of which is attached hereto and incorporated herein, having been approved as to form by the City Attorney, is hereby approved. The President of the City Council is authorized to execute and deliver the Amendment To Grant Agreement in the name of the City. ATTEST: CitIl INTRODUCED: September 11, 2000 By Robert Schilling Councilperson APP VED: President of the City Council Council Agenda TITLE: A RESOLUTION APPROVING AN AMENDMENT TO THE GRANT AGREEMENT BETWEEN THE CITY OF PUEBLO AND THE STATE BOARD OF THE GREAT OUTDOORS COLORADO TRUST FUND RELATING TO ACQUISITION OF THE HONOR FARM LAND IN- HOLDINGS, AND AUTHORIZING THE PRESIDENT OF COUNCIL TO EXECUTE THE SAME DEPARTMENT: PLANNING & DEVELOPMENT AGENDA ITEM # 4 DATE: September 11, 2000 ISSUE: Should the City Council approve an amendment to the grant agreement between the City of Pueblo and the State Board of the Great Outdoors Colorado Trust Fund relating to the acquisition of private properties in and around the Honor Farm property (see attachment). BACKGROUND: The City has received a Great Outdoors Colorado Open Space Grant in the amount of $350,000 for acquiring parcels in and around the Honor Farm property. Currently, the City has a contract to purchase 117.83 acres from the YMCA. The YMCA was not able to provide an acceptable title policy to the City due to several exceptions in their title policy. The YMCA filed a quiet title action to clear up certain ambiguities in their title policy. The quiet title decree was issued June 16, 2000. There is a 6 -month period in which the decree can be contested. Provided that the quiet title action is not contested, the title company will issue a policy that will satisfy the current title policy ambiguities on December 16, 2000. The amendment will not prevent the City from proceeding with the acquisition of the YMCA's parcels. The extension provides the necessary time for the City to receive an acceptable title policy. RECOMMENDATION: Approval of the Resolution. FINANCIAL IMPACT: There is no financial impact. Pueblo Honor Fame; In- Holdings (Log #7491) THIS AMENDMENT (the "Amendment ") is entered into this I Ith day of September, 2000, in connection with that certain Grant Agreement dated December 17, 1997 by and between The Great outdoors Colorado Trust Fund (the "Board') and the City'of Pueblo ( "Grantee ") (the "Agreement "). WHEREAS, the Board and Grantee desire to amend the Agrcment as set forth below. NO'Vrii, THBREFORP, in consideration of the mutual agreements herein and for other good and valuable consideration, receipt of which is hereby acknowledged, the Board and Grantee hereby agree to amend the Agreement as follows: A. Paragraph I of the Agreement is hereby amended in its entirety to read as follows: 1. Q= and Eject. The Board awarded to Grantee the sure not to exceed Three Hundred Fifty Thousand and No/100 Dollars ($350,000,00), subject to the terms of this Agreement (the "Grant "). The Grant shall be used by Grantee solely to complete the Project, as approved by the Board, Grantee hereby agrees to use its best efforts to complete the project 'tae Board and Grantee hereby w1mow(edge that an exception to title for lack of marlcetabuity (tbe "Exception ") has arisen due to a quiet title action that has been recently performed to resolve certain ambiguities of title. As of December 16, 2000, the Title Company will be prepared to issue an endo3rsement to the Grantee's title policy that will remove the Exception from the policy, provided that no steps have been initiated to set aside or otherwise impair the effect of the quiet title decree (the "Endorsement "). Grantee ack aowledges that the pottion of the Grant utilized to purchase the YMCA parcel will be considered a loan to the Grantee until Grantee obtains thg Endorsement, which Grantee shall obtain by January 31, 2001. If the Endorsement has not been obtained by January 31, 2001, Grantee shall i r=ediately return the potion of the Grant utilized to purchase the YMCA parcel to the Board. B. The Board and Grantee hereby ratify and conf rai this modification to the terms of the Agreement All other terms of the Agreement shall remain in full force and effect. IN WITNESS V&MEOF, the Board and Grantee have executed this Amendment as of the date first written; above. THE BOARD: THE GREAT OUTDOORS COLORADO TRUST FUND By A� oth, E utive Director GRANT CITY o Esz,o C L o silent ofthe City Council ,c