Title
A Resolution Authorizing the Disposal of Surplus City Property to the One Logical, Potential Purchaser, Being the Directors of Peak Metropolitan District No. 3
Presenter:
Greg Phillips, Director of Aviation, Colorado Springs Airport
Body
Summary:
This matter requests City Council to authorize the disposal of surplus City property to 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"). The proposed conveyance is 0.114 acres to metropolitan district directors, as tenants in common, necessary to create a director parcel for Peak Metropolitan District No. 3 in accordance with Colorado law.
Background:
City Council Resolution 95-18 approved the Service Plan necessary for the creation of Peak Metropolitan District Nos. 1, 2, and 3, which construct, manage, finance, and maintain public infrastructure improvements necessary for the development of Peak Innovation Park. Such Service Plan was amended by Resolutions 22-19 and 28-22. Districts Nos. 1 and 3 are financial districts, and District No. 2 is an operations/maintenance district. The use of district financing for construction and maintenance of infrastructure reduces investments of Airport and City funds that would otherwise be required to develop Peak Innovation Park. Furthermore, City Council has previously approved similar sales of property to assist in standing up the metropolitan districts for Peak Innovation Park by Resolutions 32-18 through 36-18, and by Resolutions 23-19 through 27-19.
The proposed conveyance is 0.114 acres to metropolitan district directors, as tenants in common, necessary to create a director parcel for Peak Metropolitan District No. 3. The land is not independently developable because it sits on the slope of an embankment to a detention pond. The City's Real Estate Services Department ("RES"), pursuan...
Click here for full text