HomeMy WebLinkAbout11168City Clerk's Office Item # S27
COUNCIL MEETING DATE: April 27, 2026
TO: President Mark Aliff and Members of City Council
CC: Mayor Heather Graham
VIA: Clyde Bishop, City Clerk
FROM: Carla Sikes, 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
PROJECT FALCON, AN ECONOMIC DEVELOPMENT PROSPECT,
AND 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 Project Falcon relating to a future job creating capital
improvement project.
PREVIOUS COUNCIL ACTION:
Not applicable to this Ordinance.
BACKGROUND:
The City is currently in confidential negotiations with an out-of-state corporation
designated as Project Falcon, which is considering the construction of a large
manufacturing facility to be located in the St. Charles Industrial Park. Project Falcon has
asked for assurances from the City that if the Pueblo site is selected, approximately 300
acres of land will be available in the St. Charles Industrial Park for construction of the
manufacturing facility. Any contract for the ultimate purchase of the property shall be
part of an overall economic development package that includes an Employment
Agreement for primary jobs and all of which will be subject to approval by City Council.
FINANCIAL IMPLICATIONS:
The attached agreement gives Project Falcon an option to purchase approximately 300
acres of land located in the St. Charles Industrial Park for its appraised value.
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:
Approval is recommended.
ATTACHMENTS:
Option to Purchase - Project Falcon (Final w. Ex A)
ORDINANCE NO.1116
AN ORDINANCE APPROVING AND AUTHORIZING THE
MAYOR TO EXECUTE AN OPTION TO PURCHASE
AGREEMENT BETWEEN THE CITY OF PUEBLO, A
COLORADO MUNICIPAL CORPORATION AND PROJECT
FALCON, AN ECONOMIC DEVELOPMENT PROSPECT, AND
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 April 27, 2026, between the
City of Pueblo and Project Falcon, 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.
Introduced and initial adoption of Ordinance by City Council on April 13, 2026.
Final adoption of Ordinance by City Council on April 27, 2
Vice President Of Pity C
FiTa WHIM
Approved on L -3 0'Z�.
Disapproved on
based on the following objections:
M a r
❑ 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
ATTF
Cityler