HomeMy WebLinkAbout10206ORDINANCE NO. 10206
AN ORDINANCE APPROVING AND AUTHORIZING THE
MAYOR TO EXECUTE A CONTRACT TO BUY AND SELL
REAL ESTATE BETWEEN THE CITY OF PUEBLO, A
COLORADO MUNICIPAL CORPORATION AND BLUFFS
OPPORTUNITY ZONE BUSINESS, LLC, A COLORADO
LIMITED LIABILITY COMPANY FOR THE SALE OF
PROPERTY LOCATED IN THE DELAVAN PLACE
SUBDIVISION OF THE COUNTY OF PUEBLO, STATE OF
COLORADO
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Contract to Buy and Sell Real Estate (“Agreement”) dated June 27, 2022,
between the City and Bluffs Opportunity Zone Business, LLC, a Colorado limited liability
company (“Company), a copy of which is attached hereto and is incorporated herein by
this reference, having been approved as to form by the City Attorney, is hereby approved.
SECTION 2.
The Mayor is authorized to execute and deliver said Agreement in the name of the
City and the City Clerk is authorized to fix the seal of the City thereto and attest same.
The Mayor is further authorized to execute and deliver a Quit Claim Deed and related
documents at closing, transferring the property owned by the City, as identified in said
Agreement to the Company, in the manner described in the attached Agreement.
SECTION 3.
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 4.
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 June 13, 2022 .
Final adoption of Ordinance by City Council on June 27, 2022 .
President of City Council
Action by the Mayor:
☒ Approved on June 29, 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 # S-9
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: June 13, 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
A CONTRACT TO BUY AND SELL REAL ESTATE BETWEEN THE CITY OF
PUEBLO, A COLORADO MUNICIPAL CORPORATION AND BLUFFS
OPPORTUNITY ZONE BUSINESS, LLC, A COLORADO LIMITED LIABILITY
COMPANY, FOR THE SALE OF PROPERTY LOCATED IN THE DELAVAN
PLACE SUBDIVISION OF THE COUNTY OF PUEBLO, STATE OF COLORADO
SUMMARY:
Attached is an Ordinance approving and authorizing the Mayor to sign an agreement for the City
to sell a parcel of unimproved land located in the Delavan subdivision of Pueblo County (the
“Property”) to Bluffs Opportunity Zone Business, LLC, a Colorado limited liability company
(“Company”) for One Thousand Dollars ($1,000.00).
PREVIOUS COUNCIL ACTION:
Not applicable to this Ordinance.
BACKGROUND:
Company wishes to construct a 100-unit apartment building in “the Bluffs” portion of “the Blocks”
and wishes to purchase a strip of land owned of record by the City for use as a parking lot for the
project.
FINANCIAL IMPLICATIONS:
One Thousand Dollars ($1,000) will be deposited into the City’s General Fund.
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Ordinance.
STAKEHOLDER PROCESS:
Not applicable to this Ordinance.
ALTERNATIVES:
City Council could decide not to sell the Property to the Company.
RECOMMENDATION:
The Mayor and City staff recommend approval of this Ordinance.
Attachments:
Proposed Ordinance;
Proposed Contract to Buy and Sell Real Estate and Proposed Quit Claim Deed
CONTRACT TO BUY AND SELL REAL ESTATE
THIS CONTRACT ("Agreement") is made the 27th day of June, 2022, between the City
of Pueblo, a Colorado municipal corporation, 1 City Hall Place, Pueblo, CO 81003 (hereinafter
called the "Seller") and Bluffs Opportunity Zone Business, LLC, a Colorado limited liability
company, PO Box 6771, Denver CO 80206 (hereinafter called the "Purchaser").
1. Property Defined. The Seller agrees to sell and convey to the Purchaser,
and the Purchaser agrees to purchase from the Seller, all that certain plat, piece, and improved
parcel of land having the following legal description (Property):
the South 13 feet of Lot 14 and the North 17 feet of Lot 15, Block 4 in Delavan Place,
according to the amended plat thereof, filed for record July 30, 1890
all in the County of Pueblo, State of Colorado.
The Property shall be conveyed by Quit Claim Deed("Deed")a form of which, marked as Exhibit
1, is attached hereto and incorporated herein by reference. The Property shall be conveyed subject
to and subordinate to all easements,reservations,restrictions,covenants,limitations,rights-of-way
and conditions of record and zoning and subdivision regulations and resolutions of the City of
Pueblo, subject to satisfaction of the conditions listed in this Agreement.
2. Purchase Price. Seller and Purchaser agree that the total purchase price shall be
One Thousand Dollars (U.S. $1,000.00) to be paid as provided in, and subject to, Paragraph 3
below (the "Purchase Price").
3. Payment of Purchase Price. The Purchase Price for the Property shall be payable at
Closing in cash or certified funds.
4. Real Property Taxes. There are no general real property taxes and assessments for
tax year 2021 because the Grantor is exempt from the payment of real property taxes and
assessments.
5. Closing Time and Place. Closing of the transaction contemplated hereby
("Closing") shall be held at the offices of the City Attorney, 1 City Hall Place, 3td Floor, Pueblo,
CO 81003 at a date and time as agreed by Seller and Purchaser. The Purchaser shall be responsible
for recording the Quit Claim Deed and for paying all recording fees.
6. Broker. Purchaser and Seller represent and warrant to the other that no broker or
finder has been engaged by such Party in connection with this transaction. Seller agrees to
indemnify,defend and hold Purchaser harmless from and against any and all claims, loss, liability,
costs and expenses (including reasonable attorneys' fees), resulting from any claims that may be
made against Purchaser by any broker or other person claiming a commission, fee or other
compensation by reason of the transaction contemplated hereby if the same shall arise by, through
or on account of Seller. Purchaser agrees to indemnify, defend and hold Seller harmless from and
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against any and all claims, loss, liability,costs and expenses(including reasonable attorneys' fees),
resulting from any claims that may be made against Seller by any broker or other person claiming
a commission, fee or other compensation by reason of the transaction contemplated hereby if the
same shall arise by, through or on account of Purchaser.
7. Disclaimers. EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT,
IT IS UNDERSTOOD AND AGREED THAT SELLER IS NOT MAKING AND HAS NOT AT
ANY TIME MADE ANY WARRANTIES OR REPRESENTATIONS OF ANY KIND OR
CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY,
INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OR REPRESENTATIONS AS
TO HABITABILITY, MERCHANTABILTY, FITNESS FOR A PARTICULAR PURPOSE,
TITLE, ZONING, TAX CONSEQUENCES, PHYSICAL OR ENVIRONMENTAL
CONDITION (INCLUDING, BUT NOT LIMITED TO, HAZARDOUS MATERIALS
CONTAMINATION), UTILITIES, OPERATING HISTORY OR PROJECTIONS,
VALUATION, GOVERNMENTAL APPROVALS, THE COMPLIANCE OF THE PROPERTY
WITH GOVERNMENTAL LAWS, OR ANY OTHER MATTER OR THING REGARDING
THE PROPERTY. PURCHASER ACKNOWLEDGES AND AGREES THAT, EXCEPT AS
EXPRESSLY SET FORTH IN THIS AGREEMENT, UPON CLOSING SELLER SHALL SELL
AND CONVEY TO PURCHASER AND PURCHASER SHALL ACCEPT THE PROPERTY
"AS IS, WHERE IS, WITH ALL FAULTS." PURCHASER AND SELLER AGREE THAT THE
PROVISIONS OF THIS PARAGRAPH 7 SHALL SURVIVE THE CLOSING OF THE
TRANSACTION CONTEMPLATED BY THIS AGREEMENT AND THE RECORDING OF
THE QUIT CLAIM DEED HEREUNDER.
8. In addition to Paragraph 7 hereof, Seller and Purchaser agree that the provisions of
this Agreement shall survive Closing and the recording of the Quit Claim Deed.
9. All understandings and agreements heretofore had between the parties hereto are
merged into this Agreement,which alone fully and completely expresses their agreement, and this
Agreement is entered into after full investigation, neither party relying upon any statement or
representation, not embodied in this Agreement, made by the other.
10. This Agreement may not be changed or terminated orally.
11. The provisions in this Agreement are to apply to and bind, and inure to the benefit
of, the heirs, executors, administrators, successors, and assigns of the respective parties.
12. If any provision of this Agreement is determined by a court of competent
jurisdiction to be invalid or unenforceable, the remainder of this Agreement shall nonetheless
remain in full force and effect.
13. This Agreement shall in all respects be governed by, and construed in accordance
with, the laws of the State of Colorado. Seller and Purchaser hereby irrevocably submit to the
personal and subject matter jurisdiction of the District Court, Pueblo County, State of Colorado in
any action or proceeding arising out of or relating to this Agreement and hereby irrevocably agree
that all claims in respect of such action or proceeding shall be heard and determined in the District
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Court of Pueblo County, State of Colorado. Purchaser and Seller agree that the provisions of this
Paragraph 13 shall survive the closing of the transaction contemplated by this Agreement and the
recording of the Quit Claim Deed hereunder. To the full extent permitted by law, Purchaser and
Seller hereby waive their rights to a trial by jury.
14. The provisions of this Agreement and of the documents to be executed and
delivered at Closing are and will be for the benefit of Seller and Purchaser, and their respective
heirs,executors, administrators, successors and assigns only and are not for the benefit of any third
party, and accordingly, no third party shall have the right to enforce the provisions of this
Agreement or of the documents to be executed and delivered at Closing.
15. The following schedules or exhibits attached hereto shall be deemed to be an
integral part of this Agreement:
Exhibit 1 — Form of Quit Claim Deed
16. The section headings appearing in this Agreement are for convenience of reference
only and are not intended, to any extent and for any purpose, to limit or define the text of any
section or any subsection hereof.
17. The parties acknowledge that the parties and their counsel have reviewed and
revised this Agreement and that the normal rule of construction to the effect that any ambiguities
are to be resolved against the drafting party shall not be employed in the interpretation of this
Agreement or any exhibits or amendments hereto.
18. The failure to enforce any provision of this Agreement shall not operate as a waiver
of any preceding or future breach of any such provision or any other provision hereof.
19. Neither party shall record this Agreement or any short form memorandum of this
Agreement.
Executed at Pueblo, Colorado, the day and year first above written.
SELLER: PURCHASER:
CITY OF PUEBLO, CO Bluffs Opportunity Zone Business, LLC
A MUNICIPAL CORPORATION A Colorado limited liability company
By: 7,40i/d44.4....4
Nicholas A. sar eld
Mayor g'gnature)
y John mark
ATTESTED BY: - f Manager • .
CIT YERK
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