HomeMy WebLinkAboutbocc.con.055.2007CONTRACT # ~~S . moo ~
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO AUTHORIZING SETTLEMENT OF
COURTHOUSE PLAZA LITIGATION HENRY ET AL., v. PITKIN COUNTY
CAPTTAL LEASING CORPORATION
RESOLUTION #~-2007
RECITALS
1. Pitkin County's non-profit enterprise corporation, Pitkin County Capital Leasing
Corporation, currently owns the leasehold interest associated with the Courthouse Plaza
property and 1/3 undivided interest in the underlying real estate.
2. The ownership of the remaining 2/3 undivided interest in the real property is held
by Reese H. Henry Jr., Clifford D. Brelsford, Barbara C. Brelsford, Samuel Edgar Henry
and Lee Ann Henry Fienup.
3. The leasehold interest acquired by the Capital Leasing Corporation gives the
County the right to acquire the remaining fee interest in the property at the conclusion of
the leasehold term.
4, The owners of the 2/3 undivided interests in the real properly have claimed that
the Capital Leasing Corporation has breached its obligations under the lease agreement.
NOW THEREFORE, BE TT RESOLVED by the Boazd of County Commissioners of
Pitkin County, Colorado that the Board authorizes its Chair or his designee to execute all
appropriate documentation in a form to be approved by the County Attoraey, to effect a
settlement of the litigation associated with the Courthouse Plaza building, Henry et al., v. Pitkin
County Capital Leasing Corporation, through the payment of $2,250,000.00 to the Plaintiffs in
that litigation.
The payment of this amount will result in the County being conveyed all interests held by
the Plaintiffs in that litigation to allow Pitkin County Capital Leasing Corporation to own 100%
fee interest in the Courthouse Plaza property and improvements. This settlement shall also
realize the dismissal with prejudice of the above referenced litigation wherein all parties shall pay
their own fees and costs.
INTRODUCED, FIRST READ AND ADOPTED ON January 23, 2007.
Resolution # D0~ - 2007
ATTEST:
APPROVED AS TO FORM:
John M. Ely !~
County Attorney
BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO
1 -
Michael M. Ows y
Chair
Date: ~'~'~-a-dD~--
Hilary Fl her
County ager
2
Deputy C:lerK