HomeMy WebLinkAbout1991 Ordinance No. 065ORDlNANCE NO. ~ b-
SElllES OF 199 1
BY AUTHORJ'TY
COUNC IL BIIL NO . 67
IJITJRODUC ED BY COUNCIL
Mf:Ml'ER HATHAWAY
AN ORD INAN CE APPROVING Tl-IE SALE OF SIX PROPERTIES Wl-ll CH WERE DEVELOPED
FO R111E "BUILD" PROJECT TO BE SOLD ON T!-IE OPEN MARKET .
WH E REAS . the Englewood City Co u ncil allocalcd $500,000 [ram the Ge n eral Fund for
Projec t BU ILD : a nd
WHEREAS. In 1990 the En, .. -wood City Council recommended a program be In stit uted
whereby ne\fly constructed. slnglc-famlly homes replace seriously dilapid a ted or
obsolesccnl homes a nd nc-w homes would be built on the pro perties: and
WHEREAS. th e developed SIX properties arc to be sold to private p a r/le, ,,!, will secure
their own fin ancing. thereby re placing the City [unds used a nd retumct, (•J the BUILD
rund when the properties are sold and the owners or the properties n r.v · ho ns have been
closed:
NOW , THEREFORE, BE IT ORDAINED BY Tii E CITY COUNC IL OF TiiE Cn'Y ,,,.
ENGLEWOOD . COLORADO . AS FOLLOWS :
~: Approval ts hereby given for the sale of slX properties whlc~ wore dc,tloped
for the ProJecl BUILD . Said properties will be sold to prlva:.: pa rtie s who shall ~ !cure
thei r own !lnanclng and the City funds which were used to purchase and develop said
properties shall be rel urned to the BUILD fund at the umc the p roperties a rc sold and the
new loa ns arc closed. Sale pr1cc lo be fa lr market pr1cc based on appraisal pltt s or minus
seven ;,<"-"Ce nt (7%).
~Jllm.l. Th e followlng properties are the slX (6) pro;.,rt.tes to be sold . said proper11es
were dC\·eloped for the Project BUILD :
I. 4754 South Huron Street
2 . 590 East Quincy Avenue (aka 4301 S . Pearl Street)
3 . 4406 South Lincoln Street
4 . 4775 South Galapago Street
5 . 4368 South Delaware Street
6 . 3085 South Pearl Street
The conditional sale of all properties shall have a rtght for the City to purchase the
propeny If offe red for sale wlthln three 131 years of date of De ed. The sales s h all only be
to the owner/occ upants . The purchaser shall not own any other residence /Jn the date or
tmnsrer of dee d to the above propcn les . The property may not be rent ed bi the ow n er
(.ur1 11 the first lhree (3) yca r s of ownership. Said req ui rements s h all run with the
land .
~-The Mayor and the C ity Clerk are authorized lo execu le the proper fom1 or
de e<'. fo r the co rweya nce of these propert ies pursuant to Secti on 72 or the E nglewood C lly
Charter
Introduced , rea d In run . amended and passed on first reading on the 2 1s t day of
October . 199 1.
20 b
Published ns a BUI fo r an Ordlnance on the 24th day of October . l 99 l.
Rrp ubll s hed as a BUI fo r an Ordinance on the 31st day of October, 1991.
Hearl by tlllc and passed on fi na l reading on the l Sth day of Novembe r. 199 l .
1'11 bll s hcd by title as Ordinance No .~ Serles of 1991. on t he 21st day of November
0 1
Al"rEST:
tJ1uaa v<1 o~
Patricia H. Crow, City Clerk
1, Patricia H. Crow. Clty Clerk of lh e City of Englewood , Colorado, hereby cenlfy lhat
the above a nd foregolng ts a true co py of the Ordinance passed on final reading and
pu blished by title as Ordinan ce No. 61'. Serles of 1991. ~v~~--Patrtcla H. Crow
. 2.
Tl 11 5 IS /I LEG /IL !I\STRU~1E1'T. I f NOT UNDERSTOOD. LEG/IL. T /\X Oil OT!l rn
COUNSEL SIIOUI.D BE CO:>,;SU LTED BEFORE SIG:-I I NG ..
WARRANTY DEED
RESTRICTIVE COVENANTS ARE COITTAINED IN THIS DEED •
TIDS DEED, m.,dc lhls
COLORADO
day of . 19 . between 11➔F. ':rIY Of ENGLEWOOD.
a Home Rule City cxJstlng under a nd by virtue of tl ;• ~ i' ~ er ' ,. Slat'!
of p,tor and
a corporation duly organized nnci enls l1ng un · t t \..r,;c~ 1 •v \" i, •c of the laws o f the State
of p,tee; whose legal address ts
WITNESSETH, That the granter, for and In consld cratlon of the s um of
Ld,us.
the receipt and sufficiency of which Is hereby acknowledged. has granted . bargained.
sold a nd conveyed. and by these presents does grant. bargain. sell . convey and eonnm,.
unto the grnn!ee . Us s uccess ors and assigns foreve r , a ll !he real properly logether wit h
tmpro•,ements. If any. s ttuate.1}1ng and being In !he Counly of
ard Sl ate of Colorado. described as follows:
also known by street and number as :
TOGETHER. with all a nd singular the h eredilnmcnts and appurtenances thereunto
hc lo n~lng. er In anywise aµputa lntng. and the reve rsion and reversions, rcnrnlnc1cr
nn cl remainders. rents, Issues nncl pronts Lh c rcof: nnd a ll the es l alc. rl glll. lltlc lmcrcst.
claim a n d demand whatsoc\'e r of lhe gnmt,r . either In law or eqully. of. in and 10 1h c
nhovc hnrga incd and premises. with the hcrcdllamen ts and :ippurten nnccs.
TO HAVE AND TO HOLD the said premises above bargained and de scribed. \\'ll h the
appurtenances. unto the grantee . Its s11ccessors and assigns fore\'e r . Am i the Arnn t or for
l1sc lf, It s successors a nd ass igns. docs CO\'Cnn nt. Ara nt . bar~n ln nnd n~rcc to nnd wtt h
lhc J,!rn nt cc. lls successors nnd nsslp;ns. thnl nt lhc ti.me o r t he enscnll1 1A nml delivery or
th rsc presents.. It ts well sev.rd or tile prr mlscs above co n\'Cycd. has J!ood. ~1irc. pc rfc1..t.
.1hsn!ut c .rnd 111ddci1s1blc l'Millc or inh cnt.111 c c . 111 law . 111 kc sim plr. :1 11d II.is ~uo<i
rit!ht. full prnH'r ,111d l.1wr111 ,111 th o rlly to gr.1n1. h:1rg,1111. s t•II a nd comcy the s a111 c 111
111 ,1 1111 t·r :111cl fonn a forcsatcl. and th a1 th e s,1111 c a rc free a nd c lea r fro111 .ill fo111 1t·r ;111<1
u1hrr (!rant ~. h,1rQ;11ns. s..ilr'-. li t•n.:;, 1,l Xl"'•· .1~.,cs...,11 1r n1 ~. 1nc11111h r :mt·1·~ a 11tl 1T :-.l rit'11111i--
1,I wl1 ,Ht·h I k11 ul (II 11,ll\lll' ~OC\'l'l'. t':\t'l'IJI
RESTR ICTIVE COVEN AN1 S .
111 The Cllv ~h:-i ll h:1 \·c 11 1c ··11 ... t rtAhl to pt11 c lrnsc t he p ru1wr1y IC offen·d fo r s.il c
wll h tn t hrrr (JI con ..,r l 11 1 'l r. ye:.us fro m clntc of this Dcc:d .
(l l 1r the Gr:int ec ccn~c; !(1 '"' n ,py the property as Grantee's rc s lck nc c bt'fo rc
1h c r x plrnlton or three 1:1 1, m1 ~c utl\·c yea rs fr om th e d :llc or t hi s dt·t·d . t h e City
~h ;1 ll h n"c 1'1 c r t.[!h l 1 ,;, ,1 h ,tc.c the proper ty n t the time the Hy learn s the
properly has bee n rcn teo ,.r orrcred fo r rent.
t.1 1 1r ·111e propert y Is rented ll sh~11 1 >c prcs l1m cd th at d:1111;-igcs nrc t he nmount of
re m p ai d ~111r1 .Il l re m s ll .111 be p,lld to the Cll y. In the e\'en l the City tlt-<:ts 10
re p u rchase the propert y. the Cit y shall pay the fai r m arket value of !he property
or the purchas e mon cv llrn amount wh ich eve r Is g reater. The City shall b e
und er n o obllga llon to ~cl" ;lily make the purchase or pay lhc s rnns, unless
fo nnal apprO\·a l ls made~-• the Ci ty Council. The purchase prtce s h a ll Or s t be
a pplied 10 a ll p urc has e n1oney He ns on !he pro pe rty. t hen t o nil ol her lie ns on
lhc property and On a ll y lo the pu rch 1.1se r .
1-11 These CO\'e n a n t s shall be r ffec 11ve fo r a pc ri orl of three (3 1 ye n rs from the dnt e o r
th is deed ,1n d sha ll a 11'nma t1c a ll y tcm11natc a ficr p assage o r snld t lm ~ period.
It Is Intended by the parti es hereto, and the Grantee ezprusly covenants, for Itself and
all Its successors In Interes t, that these uccpUons s hall run with the land. /'J"f
violation of ihese covenan ts s hall entitle !he r;11y of Englewood •o co ll ect reason able
a llomey fees.
·111e gr a ntor s h a ll and will WARRANT AND FOREVER DEFEND the nbovc bnr~aincd
premises In t he q u ie t and pcacenblc possrsslon of the grantee , Its successors and
,1ss1gns , again s t a ll ;md C\'c 1y person or persons lawfully claiming or to claim t he whole
or any pa rt thereof.
IN WITNESS WHEREOF , 111c grante r has caused lls name to b e h c rcumo sub scribed
by Its Ma yo r, and It s seal 10 be hereu n to affixe d, attested by Its City Clerk. the day anc1
yen r nr sl a b o"e writte n .
;,T,\'n•: OF COI.OR\DO
C0t 1111y U
City of Englewo od , Colorado
/\ Colorado Home Ru le City
~-----,----------Mny o r
111c ror {'j!olnA m~n ,n'k.111 w.1s ~'1Lk n owlr d.(!c-c1 befo re m e lh is cby er . J!) . J)\'
,L'-\ \1.J\nr ,ll'rl ______ _
.i.., C'11 ,· (~k ,I Ill· C \' 11 !l'\\tn,d ,1 Co lnr.id o :\t 111t lci p;1t ll o11 1c H11 lr C1 1,·
~1 y commlsston cxpt rrs
Wlln css my hnnct nnd offlcln l scn l.
NcA;uyPl.llli:
IN WlTNESS WHEREOF, The Grantee Acknowlcrlgcs lhc Co \'en nnts se 1f 1i\ 1 herein
nml has caH scd __ name to be hereunto subscribed, th e day and year II t abo\'c
,1.•rlltcn .
SfATE OF COLORADO . I
lss.
Camtya I
Grantee :
n,e foregoing Instrume nt was acknowledged before me this day or , I\> , by
My comm ission expires
Witness my hand and official seal.
NctrnyPl.bli:
DATE
Oc t obe r 2 1, 199 1
I NITIATED BY
STAFF SOURCE
ISSUE/ACTION PROPOSED
COUNCIL COMMUNI CATION
AGENDA I T EM
11 b
SUBJECT
Departme n t o f Comm un i ty De ve l opme nt
Sa l e o f Pr o pe r t i es
Deve l oped !o r t h e
OUILO Prog r am .
Ric h a rd s. wa n uah, Di r ecto r o f Comm unit y Deve l o pm e nt
To pass an ordinance approving the sale of the following properties: 4 754 south
Huron Stree t; 590 East Quinc y Avenue (aka 4301 Sout h Pea rl Str e .!t ); 4 40 6 South Li n -
c o ln street , 4775 South Galapago Street ; 4366 So uth Delawa re Straet; and JOBS South
Pe arl Stre et .
PREVIOUS COUNCIL ACTION
The City Counc il ha s allocated S500,000 from t he Cene r a l Fund !or Pro ject BUILD .
T he money l a to be u s ed t o purchase e xisting res ide n t ial p1.·o po rt le s a nd deve lop n ew
ho using s t o ck a c c ord i ng to a policy a pproved by the Ci ty Council.
STAFF ANALYSIS
BA CKGR OUND
Th e City has t r adition al l y pro\'lded f inanc ia l and t ec h ni ca l assistance i n t he a r eas
o f r ehilbili t a tion o f e xi s t i ng 1o u sing . Rental ass i stance has also been provided in
va rio u s f o r ms tln-o ug h f ede ra ll y -f unded progn1ms ac.lminist 1?1.·1?d by the C'ity 's !l o usi ng
Au t ho rit y .
La s t yea r , the Ci t y Co uncil recommended a p r og r am be i n s ti tu t ed in Eng l ewood whe r e ,
new ly c on Gtruc t ed, ai n9 l e-f am ll y homeo r ep l ace seriously d il apidated 0 1.· obsolescent
houaea . New hom es would a l so bo bu ll t o n v,1c.:i n t la nd. Thio 1.·ccommen d.:iti o n haa also
been i ncorpo r ated i nto t h o d r a f t Comp rehens i ve Pla n f or the City .
Tho o nly l oca l governmen t homo ownersh i p p r og c am in r ecent years in Eng l ewood has
bee n prov ided by tho Engl e wood ll ou aing /\t1thority t h 1.·c ug h t he conat r uct l o n o f e l.ght
new sing l e-f amil y home s b uilt fr om l 9i:\8 t o 1990 in i ts WAUD pro j ect . Pr oject BUILD
is intondod to build on those ef!orta by providing a pool of Cunda to be utili zed ao
aced money in developing now eing lo-fam l ly houolng City-wide. It le understood that
th i s program is one portion of a comp rehen sive s trategy to meet tho hou-,lng needs o r
the City of Englewood and ls not intended to rep l ace any ongoing, exist ing housing p rogram.
Se.:tion 72 or tho ll omo Rulo Charter of the City of Eng l ewood etateo that real prop-
e rt y may bo sold, but only by ordi nance, not uoing tho cme1·gency provi9ion. In tho
Cuturo, each property will bo brought before Coun c il aa early J n tho process as pos-
aiblo so that marketing e([orto can begin sconcr. Thia procen o wi ll expedite the closing of the property .
The developed properties are to bo sold to private parties who have secured their
own !lnancing. The ::l.ty !unds th6t were used to purchase and develop each property
will be returned to the BUILD !und when that property la sold and the new l oa n is closed,
RECOHMENDIITION:
To pass an ordinance allowin9 the properties developed for tho BUILD project to be ■ol d.