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HomeMy WebLinkAbout10096RESOLUTION NO. 10096 A RESOLUTION APPROVING THE AGREEMENT FOR THE SALE AND PURCHASE OF PROPERTY FROM THOMAS D. BARTLEY FOR THE ARKANSAS RIVER CORRIDOR LEGACY PROJECT, AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME AND ALL OTHER DOCUMENTS ASSOCIATED THEREWITH, AND ACCEPTING A WARRANTY DEED FOR THE PROPERTY BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The Agreement For Sale and Purchase of Property dated March 19, 2004, between the City and Thomas D. Bartley relating to the Arkansas River Legacy Project, Warranty Deed, copies of which are attached hereto, having been approved as to form by the City Attorney, are hereby approved. SECTION 2 The President of the City Council is hereby authorized to execute and deliver the Agreement For Sale and Purchase of Property together with all other documents associated therewith in the name of and on behalf of the City of Pueblo, a Municipal Corporation, and the City Clerk is directed to affix the seal of the City thereto and attest same. SECTION 3 Funds in the amount of $3,200.00 for the purchase of the property are available and will be transferred from Project Account No. AL0201. INTRODUCED April 12, 2004 BY Michael Occhiato Councilperson &J0 tl / 0090 ■ Background Paper for Proposed RESOLUTION AGENDA ITEM # O DATE: APRIL 12, 2004 DEPARTMENT: COMMUNITY DEVELOPMENT /JIM MUNCH PLANNING DEPARTMENT /CATHY GREEN TITLE A RESOLUTION APPROVING THE AGREEMENT FOR THE SALE AND PURCHASE OF PROPERTY FROM THOMAS D. BARTLEY FOR THE ARKANSAS RIVER CORRIDOR LEGACY PROJECT, AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME AND ALL OTHER DOCUMENTS ASSOCIATED THEREWITH, AND ACCEPTING A WARRANTY DEED FOR THE PROPERTY ISSUE Should City Council approve the purchase of property from Thomas D. Bartley relating to the Arkansas River Corridor Legacy Project? RECOMMENDATION Approval of the Resolution. BACKGROUND The City is required to purchase the property from Thomas D. Bartley in order to construct, operate and maintain the improvements that are part of the Army Corps of Engineers Arkansas River Habitat Restoration Project. The Bartley property contains 1.60 acres and is located primarily within the banks of the Arkansas River between Pueblo Blvd. and the Nature Center. The City is purchasing the property for $3,200.00 dollars. Since this project is utilizing federal funds through the U.S. Army Corps of Engineers, the City has followed federal acquisition standards in determining the value of the property and fair market compensation to the property owners. FINANCIAL IMPACT The cost of $3,200.00 for the Bartley property would be paid from the Arkansas River Legacy Capital Project Account number AL0201. See the Legacy Project Recap below and the attached Arkansas River Legacy Project Budget. The following breakdown shows the funds that have been reimbursed by project partners through December 31, 2003: