Title
A resolution authorizing the disposal of surplus City-owned property to Project Rodeo ("Purchaser"), as the one logical, potential purchaser.
Presenter:
Greg Phillips
Director of Aviation
Colorado Springs Airport
Body
Summary:
This matter requests City Council authorize the disposal of surplus City-property to Purchaser, as the one logical, potential purchaser in accordance with City Code ? 7.7.1804(B) and the City of Colorado Springs Procedure Manual for the Acquisition and Disposition of Real Property Interest ("Real Estate Manual").
Previous Council Action:
N/A
Background:
This item supports the City's strategic goal to promoting job creation. Through the sale of this property, this transaction will benefit the Airport and the community due to the development type and projected employment opportunities.
The City purchased the subject property on November 6, 1970 with Federal Aviation Administration ("FAA") grant funds for noise abatement and runway protection. The Purchaser initiated contact with the City expressing an interest in purchasing approximately 18 acres for the development of a local warehouse distribution facility. The Purchaser is the first company or person who has shown an interest in developing the property since it was purchased by the City 48 years ago.
The Airport discussed the potential sale of the property with the FAA and the FAA agreed the intended purpose is a compatible land use with the Airport. Accordingly, the FAA currently supports the sale of the land to this particular Purchaser.
The Airport will comply with the Real Estate Manual, including selling the land for fair market value. Selling the Property to Purchaser for the intended use fits within the compatible land uses of the Airport. The land has already been released from aeronautical use and therefore may be used for the development of the airport. The Purchaser is the one logical, potential purchaser because it will serve as an anchor u...
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