HomeMy WebLinkAbout10113ORDINANCE NO. 10113
AN ORDINANCE APPROVING AND AUTHORIZING THE MAYOR
TO EXECUTE AN OPTION TO PURCHASE AGREEMENT
BETWEEN THE CITY OF PUEBLO, A COLORADO MUNICIPAL
CORPORATION AND THE PUEBLO ECONOMIC
DEVELOPMENT CORPORATION, A COLORADO NONPROFIT
CORPORATION, RELATING TO A FUTURE JOB CREATING
CAPITAL IMPROVEMENT PROJECT
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Option to Purchase Agreement (“Agreement”) dated February 14, 2022
between the City of Pueblo and the Pueblo Economic Development Corporation, a copy
of which is attached hereto and incorporated herein by this reference, having been
approved as to form by the City Attorney, is hereby approved. The Mayor is authorized
to execute and deliver said Agreement in the name of the City and the City Clerk is
authorized to affix the seal of the City thereto and attest same.
SECTION 2.
The officers and staff of the City are authorized to perform any and all acts
consistent with this Ordinance and the attached Agreement which are necessary or
appropriate to implement the transactions described therein.
SECTION 3.
This Ordinance shall become effective on the date of final action by the Mayor and
City Council.
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on January 24, 2021 .
Final adoption of Ordinance by City Council on February 14, 2022 .
President of City Council
Action by the Mayor:
☒ Approved on February 16, 2022 .
□ Disapproved on based on the following objections:
_
Mayor
Action by City Council After Disapproval by the Mayor:
□ Council did not act to override the Mayor's veto.
□ Ordinance re-adopted on a vote of , on
□ Council action on _______ failed to override the Mayor’s veto.
President of City Council
ATTEST
City Clerk
City Clerk’s Office Item # R-6
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: January 24, 2022
TO: President Heather Graham and Members of City Council
CC: Mayor Nicholas A. Gradisar
VIA: Marisa Stoller, City Clerk
FROM: Daniel C. Kogovsek, City Attorney
SUBJECT: AN ORDINANCE APPROVING AND AUTHORIZING THE MAYOR TO EXECUTE
AN OPTION TO PURCHASE AGREEMENT BETWEEN THE CITY OF PUEBLO,
A COLORADO MUNICIPAL CORPORATION AND THE PUEBLO ECONOMIC
DEVELOPMENT CORPORATION, A COLORADO NONPROFIT
CORPORATION, RELATING TO A FUTURE JOB CREATING CAPITAL
IMPROVEMENT PROJECT
SUMMARY:
Attached is an Ordinance approving and authorizing the Mayor to sign an Option to Purchase
Agreement with the Pueblo Economic Development Corporation (“PEDCO”) relating to a future
job creating capital improvement project.
PREVIOUS COUNCIL ACTION:
Not applicable to this ordinance.
BACKGROUND:
PEDCO is currently in confidential negotiations with an out-of-state corporation which is
considering the construction of a large manufacturing facility to be located in the St. Charles
Industrial Park. The prospective employer has asked for assurances from PEDCO and the City
that if the Pueblo site is selected, 300 acres of land will be available in the St. Charles Industrial
Park for construction of the manufacturing facility.
FINANCIAL IMPLICATIONS:
The attached agreement gives PEDCO a 180 day option to purchase 300 acres of land located
in the St. Charles Industrial Park for $10.00, provided that the land is subsequently transferred to
an employer who will provide primary jobs to local residents to be set forth in an Employment
Agreement acceptable to the Mayor and City Council.
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this ordinance.
STAKEHOLDER PROCESS:
Not applicable to this ordinance.
ALTERNATIVES:
A no-action alternative may cause the prospective employer to select another site for its
manufacturing facility.
RECOMMENDATION:
The PEDCO board recommends approval of this Ordinance.
Attachments:
Proposed Ordinance
Proposed Option to Purchase Agreement