Fort Collins Urban Renewal Authority Board Meeting 2/23/23

The purpose of this item is to provide approval to staff to make offers and negotiate to acquire the Albertsons site and two adjoining buildings. At the Board’s regular meeting in July 2022, the Board provided direction for staff to pursue three courses of action related to acquiring the former Albertsons site at 1636 N College Avenue: 1. Begin discussions for acquiring the Albertsons site and two adjoining buildings. 2. Discuss funding options with City staff and the City Council Finance Committee. 3. Conduct a commercial real estate appraisal of the Albertsons site and two adjoining buildings. In January, staff provided an update on progress related to all three action items. Based on January’s meeting, staff seeks approval from the Board to make offers and negotiate to acquire the Albertsons site and two adjoining buildings.