Title
A resolution authorizing the disposal of surplus City-property to Garrett Baum (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:
City Council approved the Peak Metropolitan District Nos. 1, 2, and 3 by Resolution 98-18.
Background:
City Council signed Resolution 98-18 which approved Peak Metropolitan District Nos. 1, 2, and 3 for the purpose of managing, financing, and maintaining the construction of Peak Innovation Park improvements. The intent of the approved service plan is to organize two special financial districts and one management district to serve the Peak Innovation Park development project and to include the Jungle and Rodeo projects into one of the financial districts.
The development of a business park for the benefit of the Airport is unprecedented and necessarily requires the creation of metropolitan districts for the primary purpose of financing the construction and maintenance of the public improvements, which catalyzes the economic engine of the business park; ensures high level, attractive architectural design standards; and provides for high level maintenance of the infrastructure throughout the life of the business park.
Selling the property, which is 1/10 of one acre and situated in a drainage basin, to purchaser is anticipated to significantly benefit the Airport because there are no other governmental entities, including the City, which have deemed it desirable, feasible, or practical to undertake the planning, designing, construction, installation, relocations, redevelopment and financin...
Click here for full text