Title
A Resolution Authorizing The Acquisition Of Real Property Owned By School District No. 11, a/k/a Colorado Springs School District 11
Presenter:
Greg Phillips, Director of Aviation
Colorado Springs Airport
Body
Summary:
The Colorado Springs Municipal Airport ("Airport") requests City Council authorize the purchase of an approximately 10-acre parcel of undeveloped land. The Property is situated completely within the boundaries of the Airport. Accordingly, purchasing the Property is in the public's interest as it is necessary to ensure the Airport will control the Property and remove all risk that the Property will be developed into an incompatible land use to the Airport or that a development will interfere with or frustrate other Airport development and leasing opportunities.
Background:
The Property is landlocked within the boundaries of the Airport and adjacent to the eastern runways. Accordingly, the Property is in a noise sensitive area and situated so that future Airport development in this area would likely be frustrated.
The acquisition of the Property is in the public's interest and is needed by the Airport to: (i) prevent a school from being constructed within an area of non-compatible land use with the Airport; (ii) prevent D-11 from subleasing the Property to another user that may be incompatible with the airport; and (iii) ensure proper land use in perpetuity, thereby removing the risks associated with incompatible land uses and interference with Airport development, provide revenue generation and development opportunities for the Airport, and allow the Airport to engage in further negotiations with Peterson Air Force Base to lease the Property for base expansion.
A City Real Estate Services Department approved appraiser determined that the fair market value ("FMV") of the Property is $85,000. The parties negotiated a purchase agreement for the sale of the Property that is supported by the appraisal.
The Federal Avia...
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