19.5 Eminent Domain
(1) The City shall have the full powers of eminent domain as provided by the Constitution of the State of Colorado. No entity established by the City which has the power of eminent domain shall exercise that power except upon the terms and conditions established by the City Council by ordinance.
(2) The preferred interpretation of this Section 19.5 shall be to provide a disincentive to the City against using its power of eminent domain to take private property from one owner in order to transfer it to another non-governmental owner, including any entity created by a governmental entity for the purpose of participating in a lease-purchase agreement with a private entity. This Section 19.5 shall not be interpreted to limit the City’s power of eminent domain, to alter the definition of “just compensation” as established by statutory and common law, or to alter the definition of “public use” as established by statutory and common law.
(3) In the event that title to land or improvements that was obtained by the City or any entity of the City using its power of eminent domain is transferred to a non-governmental owner at any time within ten (10) years of the original taking, the City shall pay the former property owner the actual value of the property as reported by the County assessor’s records as of the date of the original taking by the City in addition to the amount of just compensation paid to the property owner at the time of the taking.
(4) Additional compensation due a property owner pursuant to Section 19.5(3) above shall be reduced by any amount paid pursuant to the Uniform Relocation Assistance Act of 1970, 42 U.S.C. § 4601, et seq., as may be amended from time to time, and by any other amount paid by the City over and above the just compensation amount paid at the time of the taking.
(5) The City shall not attempt to circumvent the intent of this Section 19.5 by the use of leases or other financing mechanisms. The City shall make the payment specified in Section 19.5(3) if a lease or other financing mechanism is granted to any non-governmental entity that permits the possession or use of the taken property, with the exception of leases that permit the minor and incidental use of the property.
(6) Easements for public utilities and common carriers are specifically excluded from the requirements of Section 19.5(3).
(7) Nothing shall prohibit an owner of land or improvements from releasing the City from the obligations imposed on it by Section 19.5(3) by written agreement.
