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HomeMy WebLinkAbout10042RESOLUTION NO. 10042 A RESOLUTION ACCEPTING A WARRANTY DEED FROM DOMEGA HOMES OF COLORADO, INC., FOR PARK PURPOSES AND APPROVING A QUIT CLAIM DEED CONVEYING LAND TO DOMEGA HOMES OF COLORADO, INC. BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The Warranty Deed conveying land to the City of Pueblo by Domega Homes of Colorado, Inc., dated January 13, 2004, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved and accepted. SECTION 2_ The Quit Claim Deed conveying land by the City of Pueblo to Domega Homes of Colorado, Inc., dated January 13, 2004, a copy of which is attached hereto, 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 Quit Claim Deed in the name of the City and the City Clerk is directed to affix the seal of the City thereto and attest same. SECTION 3. The City Clerk is directed to record said Warranty Deed and said Quit Claim Deed in the office of the Pueblo County Clerk and Recorder. INTRODUCED January 26, 2004 BY Michael Occhiato Councilperson � _ ( k2 Background Paper for Proposed RESOLUTION AGENDA ITEM # 5 DATE: JANUARY 26, 2004 DEPARTMENT: PUBLIC WORKS DIRECTOR — TOM CVAR, P.E. TITIN A RESOLUTION ACCEPTING A WARRANTY DEED FROM DOMEGA HOMES OF COLORADO, INC., FOR PARK PURPOSES AND APPROVING A QUIT CLAIM DEED CONVEYING LAND TO DOMEGA HOMES OF COLORADO, INC. ISSUE Should the City Council accept a Warranty Deed from Domega Homes of Colorado, Inc., for park purposes and approve a Quit Claim Deed conveying land to Domega Homes of Colorado, Inc. RECOMMENDATION Approval of this Resolution. BACKGROUND This property transfer involves approximately 5.06 acres for a future park in the Regency Crest Development, west of Cherrycrest Drive and east of Red Creek Springs Road. The developer, Domega Homes of Colorado, Inc., initially provided a deed to the City for an equivalent area of land as security for its park dedication requirements for the development. The developer has obtained title to the desired park land and has obtained a subdivision exemption from the Pueblo County Commissioners allowing the property to be transferred to the City. The land transfer is necessary to release the property held as security for residential development. Pursuant to Ordinance No. 7038, which amended the annexation agreements for the current development, the developer will include the park land being conveyed to the City in the next annexation and subdivision of the Regency Crest development as it expands to the west. FINANCIAL IMPACT The developer will construct the park, however, City will eventually be responsible for development and maintenance costs of the park.