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Home My WebLink About13901 City Clerk’s Office Item # M-10 BACKGROUND PAPER FOR PROPOSED RESOLUTION COUNCIL MEETING DATE: February 26, 2018 TO: President Christopher A. Nicoll and Members of City Council CC: Sam Azad, City Manager VIA: Brenda Armijo, Acting City Clerk FROM: Steven Meier, Director of Planning and Community Development SUBJECT: A RESOLUTION CONVEYING 49.276 ACRES OF PROPERTY BY A QUITCLAIM DEED TO PUEBLO SPRINGS RANCH, LLC, A NEVADA LIMITED LIABILITY COMPANY AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME SUMMARY: Attached for consideration is a Resolution approving a Quitclaim Deed to transfer City- Owned property to Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company subject to the terms of the Agreement dated February 26, 2018 and the Warranty Deed and Right of Reversion dated October 22, 2007 between the City of Pueblo and Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company. PREVIOUS COUNCIL ACTION: City Council approved the Agreement dated February 26, 2018 with the three Pueblo Springs Ranch ownership groups facilitating the reconveyance of the City’s property as stipulated in the original Warranty Deed and Right of Reversion. City Council approved the acceptance of a Warranty Deed and Right of Reversion dated October 22, 2007 between the City of Pueblo and Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company. The “Triggering Event” if the property was not annexed into the City was extended through six separate resolutions approved by City Council between 2007 and 2014. BACKGROUND: Subject to the terms of the Warranty Deed and Right of Reversion dated October 22, 2007 between the City of Pueblo is conveying the land back to the property owners. Since the original acceptance of the property by the City, the Pueblo Springs Ranch ownership has sold portions of the original property creating three separate owners. This Resolution conveys the portion of the Pueblo Springs Ranch property to Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company which is the portion of the Pueblo Springs Ranch “Lariat” property that is adjacent to the property currently owned by Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company. FINANCIAL IMPLICATIONS: None. BOARD/COMMISSION RECOMMENDATION: Not applicable. STAKEHOLDER PROCESS: Not applicable. ALTERNATIVES: If City Council does not approve this Resolution, the City will not be in compliance with the terms of the Warranty Deed and Right of Reversion dated October 22, 2007 RECOMMENDATIONS: Approval of the Resolution. Attachments: Quitclaim Deed Map Exhibits of the Property Reception 2099582 03/15/2018 03:43:20 PM RESOLUTION NO. 13901 A RESOLUTION CONVEYING 49.276 ACRES OF PROPERTY BY A QUITCLAIM DEED TO PUEBLO SPRINGS RANCH, LLC, A NEVADA LIMITED LIABILITY COMPANY AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME WHEREAS, the Pueblo City Council approved by Resolution No. 11137, dated October 22, 2007 the acceptance of a Warranty Deed and Right of Reversion ("Deed") between the City of Pueblo and Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company relating to the proposed annexation of Pueblo Springs Ranch; and, WHEREAS, the Property accepted by the City was not utilized to provide the contiguity for the annexation of the subsequent owner Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company prior to the occurrence of a "Triggering Event" as defined in the Deed; and, WHEREAS, the Pueblo City Council approved an Agreement by Resolution No. 13899, dated February 26, 2018 between the City and Pueblo Land Investors, LLC, a Delaware Limited Liability Company, Pueblo Springs, LLC, an Arizona Limited Liability Company, Pueblo Springs Ranch, LLC, a Delaware Limited Liability Company, and Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company ("Ownership Parties") stipulating the property to be conveyed to each of the Ownership Parties; and, WHEREAS, subject to the terms of the Warranty Deed and Right of Reversion the City shall execute, and deliver to Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company a Quitclaim Deed conveying the City's interest in the property; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1: The Quitclaim Deed conveying property to Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company, a copy of which is attached hereto, having been approved as to form by the City Attorney, is hereby approved. SECTION 2: The President of City Council is hereby authorized to execute the attached Quitclaim Deed and all documents necessary and appropriate to effectuate said transfer. 2099582 03/15/2018 03:43:20 PM Page: 2 8. 0 0.00 0 Gilbert Ortof 4 iz ClerkR 2/Rec0orderD : Pueblo 11 28Count0 y. Co SECTION 3: 1111�I/dR , ,�I��:I�n' lIh'1Ihi'�I!'r'I�■I��IA�'IL 1I III The officers and staff of the City are authorized and directed to perform any and all acts consistent with the intent of this Resolution to implement the transactions described herein. SECTION 4: This Resolution shall become effective immediately upon final approval. INTRODUCED February 26, 2018 r • c BY: _: : .wn ME /jT %� COU ' APPROVED: " /. PRESID T OF CITY COUNCIL 4^ n ATTESTED B- *1 ti-Ai ACTING CITY CLERK x.. 2099582 03/15/2018 03:43:20 PM Page: 3 of 4 R 28.00 D 0.00 1 28.00 Gilbert Ortiz Clerk/Recorder, Pueblo County, Co 111 4:I0, 1411 114li',«!AhGI,'I 11111 QUITCLAIM DEED THIS QUITCLAIM DEED, made this 26th day of February, 2018, between Pueblo, a Municipal Corporation,whose legal address is 1 City Hall P1,Pueblo,Colorado 81003 (hereinafter referred to as "Grantor") and Pueblo Springs Ranch, LLC, a Nevada Limited Liability Company, whose address is 3275 S Jones Blvd, Suite 104, Las Vegas, NV 89146 (hereinafter referred to as ("Grantee"): WITNESSESTH, that the Grantor, subject to the terms of the Warranty Deed and Right of Reversion dated October 22,2007 and recorded under Reception No. 1748310 on November 8, 2007, has QUITCLAIMED, and by these presents does QUITCLAIM, unto the Grantee, its successors and assigns,all right,title and interest that the Grantor has in the real property,together with improvements,if any, situate, lying and being in Pueblo County,State of Colorado,described as follows: A portion of Section 34, Township 19 South, Range 64 West and a portion of Sections 3, 4, 9, 10, Township 20 South,Range 64 West of the 6th P.M. County of Pueblo, State of Colorado and being more particularly described as follows: Considering the west line of the Northwest Quarter of Section 1, Township 19 South, Range 64 West of the 6th P.M.to bear S.00°49'20"E and all bearings contained herein being relative thereto. Beginning at the Southeast Corner of the Southwest Quarter of Section 9, Township 20 South, Range 64 West;thence S. 89°09'17" W. along the south line of the Southwest Quarter of Section 9,a distance of 1,341.65 feet to the Southeast corner of the West one-half of the Southwest quarter of Section 9;thence N. 00°47'07" E. along the east line of West one-half of the Southwest Quarter of Section 9, a distance of 146.06 feet; thence N. 89°09'17" E. parallel to the South line of the Southwest Quarter of Section 9, a distance of 1,337.50 feet;thence N. 89°08'44" E. parallel to the South line of the Southeast Quarter of Section 9, a distance of 1,196.65 feet; thence N. 00°28'08" W. parallel to the east line of the West one-half of the Southeast Quarter of Section 9, a distance of 2,654.81 feet;then N. 88°50'25" E.parallel to the south line of the Northeast Quarter of Section 9, a distance of 1,311.01 feet; thence N. 01°05'49" W. parallel to the east line of the Northeast Quarter of Section 9, a distance of 2,522.22 feet;thence N. 02°35'34" E.parallel to the east line of the Southeast Quarter of Section 4, Township 20 South, Range 64 West, a distance of 1,315.63 feet; thence N. 89°37'17" E., a distance of 126.17 feet;N. 02°35'34" E. parallel to the east line of the Southeast Quarter of Section 4, a distance of 1,372.17 feet; thence N. 89°47'21" E. parallel to the south line of the Northwest Quarter of Section 3, Township 20 South, Range 64 West, a distance of 2,659.72 feet; thence N. 01°13'58" E. parallel to the east line of the Northwest Quarter of Section 3, a distance of 1,241.23 feet; thence N. 49°26'49" W., a distance of 58.17 feet; thence N. 01°13'58" E. parallel to the east line of the Northwest Quarter of Section 3, a distance of 1,312.12 feet; thence N. 00°08'03" E. parallel to the east line of the West one-half of Section 34, Township 19 South,Range 64 West,a distance of 1,544.45 feet;thence S. 50°10'46" E.,a distance of 32.49 feet; thence N. 00°08'03" E. parallel to the east line of the West one-half of Section 34, a distance of 1,152.06 feet; thence S. 89°37'00" E., a distance of 75.00 feet to the northwest corner of the Southeast Quarter of Section 34;thence S.00°08'03" W.along the west line of the Southeast Quarter of Section 34, a distance of 2,676.67 feet to the northeast corner of the Northwest Quarter 2099582 03/15/2018 03:43:20 PM Page: 4 of 4 R 28.00 D 0.00 T 28.00 Gilbert Ortiz Clerk/Recorder, Pueblo County, Co 1111 KIM 1,1,1011111q, Niyi 11111 of Section 3, Township 20 South, Range 64 West; thence S. 01°13'58" W. along the east line of the Northwest Quarter of Section 3, a distance of 2,644.90 feet to the southeast corner of the Northwest Quarter of Section 3; thence S. 89°47'20" W. along the south line of the Northwest Quarter of Section 3, a distance of 2,696.03 feet to the northwest corner of the Southwest Quarter of Section 3;thence S. 02°35'34" W.,a distance of 2,635.55 feet to the southwest corner of Section 3; thence S. 01°05'49" E. along the east line of the Northeast Quarter of Section 9, Township 20 South, Range 64 West,a distance of 2,663.36 feet to the southeast corner of the Northeast Quarter of Section 9; thence S. 88°50'25" W. along the south line of the Northeast Quarter of Section 9, a distance of 1,312.61 feet to the northeast corner of the West one-half of the Southeast Quarter of Section 9;thence S. 00°28'08" E. along the east line of the West one-half of the Southeast Quarter of Section 9, a distance of 2,655.58 feet to the southeast corner of the West one-half of the Southeast Quarter of Section 9; thence S. 89°08'44" W. along the south line of the Southeast Quarter of Section 9, a distance of 1,341.69 feet to the Point of Beginning. Containing 49.276 acres, more or less. IN WITNESS WHEREOF, this Quitclaim Deed is executed by_ Grantor to be effective the day and year first above written. r$4 v;o,co 0 /�40 ' o rP GRANTOR: _' PUEBLO, A /ICIAL CORPO'�' i ,W //`/•,* ,,Nocw cie C stopher A. Nicoll °t4A ax�.ax President City Council —� STATE OF COLORADO ) ss. COUNTY OF PUEBLO ) The foregoing instrument was acknowledged before me on this �day of i .t-La 2018, by Christopher A. Nicoll, President of the City Council of Pueblo, a municipal coration. Witness my official hand and seal. My commission expire -_, TAMMY A MARTINEZ ~cam -/yk- Lo/.. NOTARY PUBLIC STATE OF COLORADO Notary Public: NOTARY ID 20164028200 MY COMMISSION EXPIRES 07/26/2020