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File #: 25-506    Version: 1 Name: 56-acre Land Donation (Case Land)
Type: Resolution Status: Mayor's Office
File created: 9/6/2025 In control: City Council
On agenda: 9/23/2025 Final action: 9/23/2025
Title: A Resolution recognizing the partial donation of approximately 54 acres of land to the Colorado Springs Municipal Airport Presenter: Troy Stover, Business Park Development Director, Colorado Springs Airport
Attachments: 1. City Council - Partial Donation of Parcel 4A 09.10.pdf, 2. Draft Resolution_Case Phase 2 Donation_KB9.6.pdf, 3. Exhibit A to Resolution, 4. Exhibits B & C to Resolution, 5. Signed Resolution No. 119-25.pdf

 

Title

A Resolution recognizing the partial donation of approximately 54 acres of land to the Colorado Springs Municipal Airport

 

  Presenter: 

Troy Stover, Business Park Development Director, Colorado Springs Airport

 

Body

  Summary:

This resolution requests City Council authorization to recognize an in-kind partial donation associated with Parcel 4A. Based on an independent certified appraisal, Parcel 4A has a fair market value of $1.55 per square foot, which exceeds the negotiated purchase price of $1.53 per square foot. In accordance with Section 4.4 of the City of Colorado Springs Procedure Manual for the Acquisition and Disposition of Real Property Interests (the “RES Manual”), the excess value can be acknowledged as a donation to the City with City Council approval.

 

  Background: 

On May 31, 2023 the Airport entered into a Purchase and Sale Agreement with Phased Acquisitions (the “PSA”) for approximately 562 acres of land (the “Overall Property”). The PSA divides the Overall Property into six (6) parcels to be acquired in four (4) phases over five (5) years.

Phase 1 - October 2023: Parcels 1-3, approximately 287 acres at $18,355,498.30
Phase 2 - September 2025: Parcel 4A, approximately 54.9 acres at $3,670,375.95
Phase 3 - September 2026: Parcel 4B and Parcel 5, approximately 174 acres at $12,698,527.59
Phase 4 - September 2027: Parcel 6, approximately 45 acres at $3,548,210.59

The Seller has requested recognition of a partial donation equal to the difference between the appraised fair market value ($1.55) and the agreed-upon purchase price ($1.53) for Parcel 4A and requires separate City Council approval.

  Previous Council Action:

City Council previously authorized the acquisition of 562 acres of property in a phased acquisition pursuant to Resolution No. 145-23.

 

  Financial Implications:

N/A

 

  City Council Appointed Board/Commission/Committee Recommendation:

N/A

 

  Stakeholder Process:

N/A

 

  Alternatives:

Approve or deny a resolution recognizing the partial donation associated with Parcel 4A.

 

Recommended Action

  Proposed Motion:

Move to approve a resolution recognizing a partial donation of approximately 54 acres of land to the Colorado Springs Municipal Airport.

 

Summary of Ordinance Language

N/A



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