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AN ORDINANCE AMENDING THE 2018 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO BY TRANSFERRING $375,000 FROM THE GENERAL FUND TO THE CIPP FUND FOR COSTS ASSOCIATED WITH THE AQUISITION AND DEMOLITION OF THE FOREST DRIVE PROPERTY LOCATED AT 6017 FOREST DRIVE IN COMMERCE CITY AND AUTHORIZATION OF THE EXPENDITURE THEREOF
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Summary and Background Information:
Since the construction of the Eagle Pointe Recreation Center in 1987, Parks and Recreation staff have worked cooperatively with owners and their families to acquire the four homes that front Forest Dr. and back to Veteran’s Memorial Park/Eagle Pointe Recreation Center. The purpose of acquiring these homes is to expand the park property and allow for future enhancements to the site.
The Department has been successful in acquiring three of the four homes. In early 2018, the owners of the remaining home at 6017 Forest Drive approached the City regarding the sale of their home to the City. The current plan is to purchase the home for fair market value in Q2 or Q3 of 2018 (estimated purchase price of approximately $315,000). The sellers would remain in the home for approximately one year after the closing while they have a new home constructed.
Once the property is vacated, staff will have a contractor demolish the house and restore the landscape, including filling the basement, (approximately $30,000 - $60,000) and/or incorporate enhancements as part of the overall park renovation planned for 2019-2020.
Staff will seek grant money to offset these costs, in the event grant funds are secured these funds will be returned to the general fund.
Staff Responsible (Department Head): Carolyn Keith/Mike Brown
Staff Member Presenting:
Financial Impact: $375,000
Funding Source:
Staff Recommendation: Approve Ordinance 2173