HomeMy WebLinkAbout11210Docusign Envelope ID: 9DA40668-BOC2-8D3D-83B4-628B3FCD9990
ORDINANCE NO. 11210
AN ORDINANCE APPROVING AND ACCEPTING THE
CONVEYANCE OF TWO PARCELS OF REAL PROPERTY
LOCATED AT 350 KEELER PARKWAY AND 442 KEELER
PARKWAY FROM PUEBLO DEVELOPMENT FOUNDATION TO
THE CITY OF PUEBLO, APPROVING A RELEASE OF DEED OF
TRUST FOR EACH PROPERTY AND AUTHORIZING THE
MAYOR TO EXECUTE THE SAME
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Special Warranty Deed dated June 30, 2026, from Pueblo Development
Foundation conveying the real property located at 350 Keeler Parkway, Pueblo,
Colorado 81001 to the City of Pueblo, a copy of which is attached hereto and
incorporated herein by this reference, is hereby approved and accepted.
SFCTION 2_
The Special Warranty Deed dated June 30, 2026, from the Pueblo Development
Foundation conveying real property located at 442 Keeler Parkway, Pueblo, Colorado
81001 to the City of Pueblo, a copy of which is attached hereto and incorporated herein by
this reference, is hereby approved and accepted.
SECTION 3.
The Mayor is authorized to execute the attached Release of Deed of Trust for the
real property located at 350 Keeler Parkway, a copy of which is attached hereto and
incorporated herein by this reference, having been approved as to form by the City
Attorney, and deliver the same to the Public Trustee of the County of Pueblo, Colorado for
recording in the real property records.
SECTION 4.
The Mayor is authorized to execute the attached Release of Deed of Trust for the
real property located at 442 Keeler Parkway, a copy of which is attached hereto and
incorporated herein by this reference, having been approved as to form by the City
Attorney, and deliver the same to the Public Trustee of the County of Pueblo, Colorado for
recording in the real property records.
SECTION 5.
The officers and staff of the City are authorized to perform any and all acts
consistent with this Ordinance which are necessary or appropriate to implement the
transactions described therein.
SECTION 6.
This Ordinance shall become effective on the date of final action by the Mayor and
City Council.
Docusign Envelope ID: 9DA40668-BOC2-8D3D-83B4-628B3FCD9990
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on June 08, 2026.
Final adoption of Ordinance by City Council on June 22, 2026. DocuSignedby:
auff
President of City Council
Action by the Mayor:
[)� Approved on 06/24/2026
❑ 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 DocuSignedby:
L
11",je:-
City Clerk
Docusign Envelope ID: 9DA40668-BOC2-8D3D-83B4-628B3FCD9990
City Clerk's Office Item # S14
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Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: June 22, 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 ACCEPTING THE CONVEYANCE
OF TWO PARCELS OF REAL PROPERTY LOCATED AT 350 KEELER
PARKWAY AND 442 KEELER PARKWAY FROM PUEBLO
DEVELOPMENT FOUNDATION TO THE CITY OF PUEBLO,
APPROVING A RELEASE OF DEED OF TRUST FOR EACH
PROPERTY AND AUTHORIZING THE MAYOR TO EXECUTE THE
SAME
SUMMARY:
Attached is an Ordinance accepting the conveyance of two parcels of real property
located at 350 Keeler Parkway and 442 Keeler Parkway, located in the Airport Industrial
Park, from Pueblo Development Foundation to the City of Pueblo, approving a Release
of Deed of Trust for each property, and authorizing the Mayor to execute each Release
of Deed of Trust.
PREVIOUS COUNCIL ACTION:
On May 10, 2021, by Ordinance No. 9926, City Council approved two Real Property
Conveyance Agreements with Pueblo Development Foundation ("PDF") which
transferred the real properties located at 350 Keeler Parkway and 442 Keeler Parkway
in the Airport Industrial Park from the City to PDF.
BACKGROUND:
On May 10, 2021, City Council transferred two parcels of real property located at 350
Keeler Parkway and 442 Keeler Parkway within the Airport Industrial Park (the
"Properties") to the Pueblo Development Foundation ("PDF") pursuant to two separate
Conveyance Agreements each dated May 10, 2021. The Conveyance Agreements
were part of an economic development transaction and related to an Employment
Agreement with Transportation Technology Center, Inc. ("TTCI").
The Conveyance Agreements provided PDF would hold and manage the Properties for
Docusign Envelope ID: 9DA40668-BOC2-8D3D-83B4-628B3FCD9990
the benefit of the City. PDF was required to lease the Properties to TTCI and upon
termination of the leases convey the Properties back to the City. PDF leased the
properties to TTCI for the benefit of the City. The lease agreements expire on June 30,
2026. TTCI has fulfilled all the requirements of its 2021 Employment Agreement and
PDF no longer desires to manage the Properties. The City has negotiated a new
economic development incentive package with TTCI which is or will be before City
Council for consideration. The City must own the Properties to accomplish the new
incentive package with TTCI.
FINANCIAL IMPLICATIONS:
�m
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Ordinance.
STAKEHOLDER PROCESS:
Not applicable to this Ordinance.lf this Ordinance is not approved, the City will not
regain ownership of the Properties.
ALTERNATIVES:
If this Ordinance is not approved, the City will not regain ownership of the Properties.
RECOMMENDATION:
Staff recommends approval.
ATTACHMENTS:
1. Release of Deed of Trust -- 350 Keeler Pkwy
2. Release of Deed of Trust -- 442 Keeler Pkwy
3. Special Warranty Deed -- 350 Keeler Pkwy
4. Special Warranty Deed -- 442 Keeler Pkwy