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2008-10

A RESOLUTION

AUTHORIZING THE ACCEPTANCE OF A SETTLEMENT OFFER BETWEEN SEGURA INVESTORS VIII, LLC, SEGURA INVESTORS IX, LLC AND THE CITY OF LAKEWOOD FOR PARCEL 4 FOR THE COLFAX AT SIMMS STREET INTERSECTION IMPROVEMENT PROJECT LOCATED AT 1495 SIMMS STREET

WHEREAS, the City Council of the City of Lakewood authorized the acquisition of property interests necessary to complete the Colfax at Simms Street Intersection Improvement Project by Ordinance 0-2006-20; and

WHEREAS, Section 4 of said Ordinance states that if a settlement is reached that was $15,000.00 over the City appraised value that a resolution had to be brought to City Council for the acceptance of said settlement offer; and

WHEREAS, a Memorandum of Agreement has been signed by SEGURA INVESTORS VIII, LLC, SEGURA INVESTORS IX, LLC agreeing to settle this acquisition for the amount of $189,670.00 which is $21,595.00 more than the City's appraised value.

NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Lakewood, Colorado, that:

SECTION 1. The City Council hereby accepts SEGURA INVESTORS VIII, LLC, SEGURA INVESTORS IX, LLC offer of $189,670.00 for the acquisition of the subject property.

SECTION 2. The City Manager, by and through the Property Management Division of the Department of Finance of the City of Lakewood is authorized to close on the acquisition of Parcel 4 of the Colfax at Simms Street Intersection Improvement Project.

INTRODUCED, READ AND ADOPTED by a vote of 11 For and 0 Against at a regular meeting of the City Council on January 14, 2008, at 7 o'clock p.m. at Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.

Bob Murphy, Mayor

ATTEST:
Margy Greer, City Clerk

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