HomeMy WebLinkAbout11490RESOLUTION NO. 11490
A RESOLUTION APPROVING AND ACCEPTING SPECIAL
WARRANTY DEED BETWEEN THE URBAN RENEWAL
AUTHORITY OF PUEBLO, COLORADO AND PUEBLO, A
MUNICIPAL CORPORATION RELATING TO LOT 4,
BLOCK 1, HISTORIC ARKANSAS RIVERWALK PROJECT,
FILING ONE
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1
The Special Warranty Deed dated November 2, 2008 between the Urban
Renewal Authority of Pueblo, Colorado ( "Authority ") and Pueblo, a Municipal
Corporation ( "City ") relating to Lot 4, Block 1, Historic Arkansas Riverwalk Project, Filing
One ( "Lot 4), 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 outstanding principal on Authority's Tax Increment Special Fund Promissory
Note dated June 14, 2007, payable to the City in the original principal sum of $207,983
is hereby reduced by $108,612 effective December 2, 2008.
BY: Randy Thurston
Councilperson
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INTRODUCED: December 22, 2008
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Background Paper for Proposed
RESOLUTION
AGENDA ITEM # 13
DATE: December 22, 2008
DEPARTMENT: Law Department
1111111111144
A RESOLUTION APPROVING AND ACCEPTING SPECIAL WARRANTY DEED
BETWEEN THE URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO AND
PUEBLO, A MUNICIPAL CORPORATION RELATING TO LOT 4, BLOCK 1, HISTORIC
ARKANSAS RIVERWALK PROJECT, FILING ONE
ISSUE
Should City Council accept the deed for Lot 4?
RECOMMENDATION
Accept the deed.
BACKGROUND
City sold Lots 3 and 4, Block 1, Historic Arkansas Riverwalk Project, Filing One, to the
Urban Renewal Authority of Pueblo ( "URA ") for a purchase price of $207,983 which
represented the purchase price of Lot 3 B $99,371, and Lot 4 B $108.612. URA's
development agreement for Lot 4 with Walter Brewing, LLC was cancelled. In order to
make Lot 4 subject to the development procedures set forth in the IGA creating the
HARP Authority, the URA has conveyed Lot 4 back to the City and City will reduce
URA's purchase money promissory note by $108,612, the purchase price for Lot 4.
FINANCIAL IMPACT
See Background.
178 WD 12/03/2008 02:20:51 PM
Gilbert ' Or o tiz l Clerk//Re o de C Co
M ill ' a RION �INYIN1%`1 per (*lb 1111 1
SPECIAL WARRANTY DEED
THIS DEED, made this day of November, 2008 by and between the Urban Renewal
Authority of Pueblo, Colorado, a body corporate and politic of the State of Colorado (herein
"Grantor "), and Pueblo, a municipal corporation (herein "Grantee "),WITNE S SETH:
That Grantor for and in consideration of the sum of $10.00 and other good and valuable
consideration to Grantor in hand paid by the Grantee, the receipt and sufficiency whereof is hereby
confessed and acknowledged, has granted, bargained, sold and conveyed, and by these presents does
grant, bargain, sell, convey and confirm unto the Grantee, its successors and assigns forever, all the
real property legally described as Lot 4, Block 1, Historic Arkansas Riverwalk Project, Filing One,
City of Pueblo, County of Pueblo, State of Colorado (herein "Property), with all its appurtenances,
and warrant title to the same against all and every person claiming the whole or any part thereof, by,
through or under the Grantor, subject to easements, rights of way, covenants, restrictions and
reservations of record and easements for existing utilities, sanitary sewer, water, irrigation and.
a
natural gas lines on, over or under the Property.
I
Documentary Fee: None, consideration less than $500.00 B Street Address: N/A
Assessors's Schedule No. 536449004
ichael Tedesco, Executive Director
URBAN RE�YWAL AUTHORITY
OF PUEBY JCOLO&ADO
COUNTY OF PUEBLO )
a )
ss.
STATE OF COLORADO )
L.
of the Board of Commissioners
The foregoing instrument was acknowledged before me this day of November, 2008
by Gary L. Trujillo as Chairman and Michael Tedesco as Executive Director of the Pueblo Urban
Renewal Authority of Pueblo, Colorado, a body corporate and politic of the State of Colorado.
Witness my hand and official seal.
My commission expires:
[ MKkAELA CATALWI!1
NOTARY PUBLIC Not is
STATE OF COLORADO
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w t7r n '�r �
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ichael Tedesco, Executive Director
URBAN RE�YWAL AUTHORITY
OF PUEBY JCOLO&ADO
COUNTY OF PUEBLO )
a )
ss.
STATE OF COLORADO )
L.
of the Board of Commissioners
The foregoing instrument was acknowledged before me this day of November, 2008
by Gary L. Trujillo as Chairman and Michael Tedesco as Executive Director of the Pueblo Urban
Renewal Authority of Pueblo, Colorado, a body corporate and politic of the State of Colorado.
Witness my hand and official seal.
My commission expires:
[ MKkAELA CATALWI!1
NOTARY PUBLIC Not is
STATE OF COLORADO