HomeMy WebLinkAboutAgenda - Full - Finance Committee - 03/06/2025 -
Agenda
Council Finance Committee
March 6, 2025 - 4:00 - 6:00 pm
City Hall - CIC Conf. Room
In person with Remote Participation Available via Teams Join the meeting now
Meeting ID: 247 116 340 034
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A) Call Meeting to Order
B) Roll Call
C) Approval of Minutes from February 6, 2025
D) Capital Tax Renewal: Affordable Housing Revolving Loan Fund Joe Wimmer
30 minutes (15 mins. presentation / 15 mins. discussion) Sylvia Tatman-Burruss
Reviewing programmatic options for the affordable housing capital fund as part of the capital tax renewal.
E) Capital Tax Renewal Updates Ginny Sawyer
40 minutes (20 mins. presentation / 20 mins. discussion) Joe Wimmer
Presenting current project with additional details on projects. This list still needs to be trimmed by
approximately $50M to meet budgeted revenue projections.
F) 2025 Reappropriation Ordinance Lawrence Pollack
20 minutes (10 mins presentation / 10 mins. discussion)
Reappropriation is an annual budgeting process whereby departments request to appropriate available
budget from prior-year reserves into the current year budget for the same specific uses that were originally
proposed and approved for the prior year.
G) Oak Street Project Matt Fater
30 minutes (15 mins presentation / 15 mins discussion)
Request for additional contingency funds for the Oak Street Stormwater Project.
H) Other Business
I) Adjournment
Next Scheduled Committee Meeting: April 3, 2025
Council Finance Committee
2025 Agenda Planning Calendar
Revised 02/25/25 ck
March 6th 2025
Capital Tax Renewal:
Affordable Housing Revolving Loan Fund
Reviewing programmatic options for the affordable housing
capital fund as part of the capital tax renewal.
30 mins
Joe Wimmer
Sylvia Tatman-
Burruss
Capital Tax Renewal Updates
Presenting current project with additional details on
projects. This list still needs to be trimmed by
approximately $50M to meet budgeted revenue
projections.
40 mins Ginny Sawyer
Joe Wimmer
2025 Reappropriation Ordinance
Reappropriation is an annual budgeting process whereby
departments request to appropriate available budget from
prior-year reserves into the current year budget for the
same specific uses that were originally proposed and
approved for the prior year.
20 mins Lawrence
Pollack
Request for additional contingency funds for the Oak Street
Stormwater Project.
30 mins Matt Fater
April 3rd 2025
Evaluation of Alternative Budget Methodologies Rupa /
Lawrence
2023 Audit Report – Staff Correction Plan Randy Bailey
May 1st 2025
June 5th 2025
E. Mulberry Threshold Analysis
Fleet Management Policies and Practices
2025 Annual Adjustment Ordinance (September)
2026 Budget Revisions (September)
Budget Revision Process for 2026 Budget Lawrence (spring / summer)
Finance Administration
215 N. Mason
nd Floor
Box 580
Fort Collins, CO 80522
970.221.6788
970.221.6782 - fax
fcgov.com
Council Finance Committee Hybrid Meeting
CIC Room / Teams
February 6, 2025
4:00 - 6:00 pm
Council Attendees: Mayor Arndt, Emily Francis, Kelly Ohlson
Staff: Kelly DiMartino, Gretchen Stanford, Dianne Criswell, Teresa Roche, Terri
Runyan, Josh Birks, Andy Smith, Dana Hornkohl, Dean Klingner, Leeann William,
Aaron Harris, Jill Wuertz. Victoria Shaw, Wes Collins, Ginny Sawyer, Max
Valadez, Randy Bailey, Trevor Nash, Adam Halvorson, Renee Reeves, Lawrence
Pollack, Jo Cech
Other: Kevin Jones, Chamber of Commerce
Will Little, McWhinney, Corey Hoffmann, Hoffmann, Parker, Wilson & Carberry
PC, Alan Pogue, Foothills Metro District, Joe Rowan
Meeting called to order at 4:00 pm
Approval of minutes from the January 2, 2025, Council Finance Committee meeting.
Motion made to approve by Emily Francis and seconded by Kelly Ohlson. Approved via roll call.
A. Foothills Metro District
Josh Birks, Deputy Director, Sustainability Services, & Acting Executive Director, Fort Collins Urban Renewal
Authority (FCURA);
Andy Smith, Redevelopment Manager
EXECUTIVE SUMMARY
The City Council approved the Foothills Metropolitan District (the “District”) on May 7, 2013 (Resolution No. 2013-
044). The District was organized to redevelop the then existing Foothills Mall. Since the District’s formation and
redevelopment, some of the planned activation has been successful. However, several factors have affected the
commercial leasing of all property, which has impacted the revenues dedicated for debt service payment. To
address the underperforming aspects, MXD Fort Collins, LLC (the “Current Developer”) is currently designing a
new redevelopment plan. The First Amendment supports this new approach to redevelopment by:
1) Increasing the maximum amount of debt the District can have outstanding.
2) Extending the length of the debt the District is allowed to incur and clarifying refunding.
3) Make other changes to ensure consistency with the new redevelopment plan.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
1) Does the Committee have any additional questions not answered by the materials provided? Or require
any additional information to evaluate the proposed amendment?
2) Does the Committee support sending the proposed First Amendment to the City Council for
consideration?
BACKGROUND/DISCUSSION
History
Prior to redevelopment, the owner of Foothills Mall – Alberta Development Partners, in partnership with Walton
Street Capital (the “Original Developer”) - requested the formation of a Metropolitan Districts as allowed by Title
32 of the Colorado Revised Statues. On May 7, 2013, Council approved, by Resolution 2013-44, an Amended and
Restated Service Plan for Foothills Metropolitan District (the “District”) to operationalize significant components
of the Redevelopment and Reimbursement Agreement (the “Agreement”) between the City of Fort Collins (the
“City”), Fort Collins Urban Renewal Authority, Walton Foothills Holdings VI, LLC and the District.
The Original Developers undertook a comprehensive redevelopment of the Foothills Fashion Mall (the “Original
Project”). The Original Project included mixed use redevelopment with a commercial/retail component, a
commercial parking structure and 402 multi-family dwelling units on 76.3 acres. Construction of the Project was
completed in 2016.
Previous Public Finance Package
The original redevelopment effort was supported by a bond issued by the District which facilitated $53 million of
net bond proceeds to fund public infrastructure improvements, the Foothills Mall Activity Center, and an
underpass beneath College Avenue connecting the Original Project to the MAX Bus Rapid Transit. The bond was
supported by a public finance package that included five revenue sources: (a) Metro District Capital Mills; (b)
Metro District Specific Ownership Tax; (c) Property Tax Increment; (d) a Public Improvement Fee; and (e) Sales Tax
Increment.
All revenues were pledged to the District for the duration of the tax increment collection period (2014 to 2038) to
support repayment of the bond. The pledge of the sales tax revenue was intended to support the bond debt
service only if needed and to fill a supplemental reserve account required by bond terms. Any pledged sales tax
increment revenue more than that commitment was to be remitted back to the City. Currently, the City has not
received any excess sales tax increment revenue.
Current Situation
Since its completion, the Original Project has been able to consistently lease out the retail shops along College
Avenue at approximately 90 percent occupancy. However, the interior portion of the property – the enclosed
retail shops – have struggled to achieve similarly high rates of occupancy with only 49 percent occupancy today.
Further, since 2016, there have been international and national trends that have impacted consumer and other
market behaviors within the bounds of the Current Project, including retail consolidation, the 2020 COVID
pandemic, rising construction costs, increasing housing costs. These international and national trends are major
considerations that factor into renewed investment in the site.
In the near term, activities within Original Project are not generating robust tax and increment revenues.
Presently, the pledged revenues, all together, are just sufficient for repayment of annual debt service. The Current
Developer’s bond underwriter’s forecast indicates that pledged revenues may not be sufficient for annual debt
service payments sometime in calendar year 2028. To address a potential insufficiency of revenues under the
present financing structure, the Current Developer is proposing changes necessary to refinance the debt. To
accomplish this, the existing principal balance of the original bonds, approximately $62 million, would be
refunded. Then, to align revenues with the debt obligation, the Current Developer is requesting the ability to issue
new bonds based on revised and to pledge new revenue sources to support a second approach at redevelopment.
PROPOSED AMENDMENT
The proposed First Amendment to the Amended and Restated Service Plan for the Foothills Metropolitan District
(the “Amendment”) changes several aspects of the Service Plan.
The first set of proposed changes occurs in Section II of the Service Plan (Definitions) and includes:
Add-On PIF Revenues – Amends the definition (“Add-On PIF Revenues”) by adding the following in redlines:
“has the same meaning as in the Redevelopment Agreement, subject to adjustment as to amount as provided
in the PIF Covenant. Throughout the term of the Redevelopment Agreement, the amount of the Add-On PIF
Revenue shall not be reduced below 1.00%.” This change enables the Current Developer to adjust the PIF
amount to raise additional revenue to support the District’s ability take on expanded debt. The Current
Developer plans to increase the total Add-On PIF Revenue to 1.25%.
Named Developer – Changes the named developer from Walton Foothills Holding VI, LLC to MXD Fort Collins,
LLC, and from a Colorado limited liability company to a Delaware limited liability company. This change
updates the Service Plan to reflect the Current Developer/property owner.
Eligible Improvements – Expands the list of improvements eligible to be funded by the District to include
those described in Attachment 1 to this Amendment. With some additional contingency making the total
eligible expenditure $75 million. The original list of eligible improvements remains intact as they were funded
with the Foothills Mall Fund. This change increases the value of the eligible improvements from the original
$53 million to approximately $128 million.
Financial Plan – Updates the definition to reflect the Financial Plan attached to the Amendment as
Attachment 2 rather than the Financial Plan attached to the original District Service Plan. As the Financial
Plan describes how the Eligible Improvements are to be financed and how the debt is expected to be incurred,
it requires updating based on new revenue sources and other changes. This change swaps out the old
Financial Plan for a revised plan based on the new revenue and debt anticipated by the Current Developer.
The rest of the proposed changes to the District’s Service Plan occur in Section VI (Financial Plan) and only the
stated aspects of this section change the rest remain in effect as written. The changes are intended to enable the
Current Developer to ask the District to incur additional debt enabling it to finance the updated list of Eligible
Improvements. The ability to incur additional debt is created by the following changes (summarized in Table 1,
below):
Maximum Debt Authorization – Increases the previous amount of $72.95 million to $166.00 million. This
change enables the District to incur additional debt generating approximately $75 million in net new
proceeds to fund Eligible Improvements. The net new proceeds number exceeds the current estimated cost
of the Eligible Improvements to provide cushion for interest rate fluctuations, reserve fund needs, project
delays, and unforeseen cost overruns.
Total & Annual Net Debt Service – Increases the previous amount from $180.00 million to $350.00 million.
Net Debt Service is the sum of all principal and interest payments on the debt. Thus, an increase in the
Maximum Debt Authorization requires a corresponding change to both the total and annual Net Debt Service
amounts. This change supports the District’s ability to incur additional debt to fund additional Eligible
Improvements as part of the proposed redevelopment.
Maximum Debt Maturity Term – Increases the previous maximum term from twenty-five (25) to forty (40)
years from the date of issuance of the debt. This change extends the length of the debt incurred by the
District. Allowing the Debt Service Mill Levy of fifty (50) mills to be leveraged over a longer period resulting
in additional revenue and debt expense. Couple this change with the proposed increase in the Add-On PIF
and together they create the revenue necessary to support additional debt.
Table 1
Amendments to Section VI – Financial Plan
Item Previous Amended
Maximum Debt Authorization
Total Net Debt Service
Maximum Debt Maturity Term
Impact on Redevelopment and Reimbursement Agreement
The Amendment does change the commitments of the Fort Collins Urban Renewal Authority (the “Authority”)
under the Agreement, nor does it necessitate an amendment or modification of the Urban Renewal Plan. Corey
Hoffman, of Hoffmann, Parker, Wilson & Carberry, P.C., outside legal counsel to the Authority has reviewed the
proposed service plan amendment, Agreement, and Urban Renewal Plan. Additionally, he reviewed a letter
submitted by the Current Developer’s legal counsel regarding the legal basis for the proposed amendment under
the existing Agreement and Urban Renewal Plan. It is his conclusion, that neither the Agreement nor the Urban
Renewal Plan need amendment or modification because of the proposed service plan amendment. A letter of his
legal opinion will be included with the materials when the Amendment is presented to City Council for
consideration. Therefore, for the Amendment to be effective the required actions are limited to Council’s
consideration alone.
Furthermore, the purpose of the Urban Renewal Plan – the remediation of blight and the prevention of its further
spread – are supported by the Current Developer’s plans. Additional blight conditions have arisen since the
Original Project, namely the vacancy of the former Macy’s building. Also, the proposed plans revitalize the site by
shifting from an outmoded from of development – enclosed retail space – to a more flexible and viable form of
development. Therefore, both the Amendment and the proposed plans for the site are consistent with the
fundamental mission of the Authority and the Urban Renewal Plan.
IMPACT ON THE CITY’S FINANCES
When City and FCURA originally considered the approval of the Service Plan and associated public finance package.
City staff prepared an estimate of the total amount of incremental sales tax anticipated to be invested in the
project. This estimate relied on several assumptions many of which have not proven to hold true. Despite this
estimate, the agreement entered by both the City and FCURA at the time pledged 100 percent of the sales tax
increment associated with the then 2.25% General Fund tax rate. Please note that, while the City’s General Fund
sales tax rate increased, the original rate of 2.25% that was committed to the project did not increase.
In May 2013, staff estimated that the total incremental sales tax invested in the project would total approximately
$8.8 million, see Table 2 below. To date, the City has contributed $3.5 million significantly below the original
estimate, which may be due to several factors, including:
Lower than expected financing costs – the original bond closed at 5.92%, which was lower than the rate
assumption of 7.00% when estimates were developed.
Higher than expected property values – Actual property values of the Original Project were assessed higher
than original estimates resulting in higher-than-expected property tax revenue collections – both increment
and metro district – from 2015 to 2023.
Lower than expected sales tax increment revenue – Due to the market conditions described below, actual
retail sales performance of the project from 2015 to 2023 came in much lower than originally estimated
resulting in less sales tax increment revenue to remit to the project.
Table 2
Original Sales Tax Estimates, May 2013
To evaluate the impact on the City, the following were evaluated: (1) the impacts of the Amendment on revenues
pledged to repayment of Debt through the Redevelopment and Reimbursement Agreement (the “Agreement”),
and (2) the estimated sales tax “invested” towards repayment of debt because of the tax increment pledge.
Impact on the City’s Debt Obligation
The Service Plan Amendment does not alter the nature of the obligation of the City to participate in the repayment
of the debt. It does not change the pledged amount nor the term. The property tax increment pledge remains 100
percent until the plan area expires in 2038. Additionally, the sales tax increment remains limited to the 2.25
percent portion of the rate, excluding recent increases to the General Fund rate and all dedicated sales taxes. The
pledge of sales tax also remains 100 percent of the increment until the plan expires. Therefore, the Service Plan
Amendment does not change the City’s or Authority’s obligation to participate in the repayment of the debt;
however, please see the below discussion on revenues.
Impact on Estimated Sales Tax
While the City’s obligation is not changed in the Service Plan Amendment, the estimated City sales tax revenues
that will be applied towards the repayment of the project debt requires additional evaluation.
Please note that the May 2013 estimates of sales tax revenue necessary to meet the City’s pledge were presented
to provide context and perspective for policymakers. Widely accepted economic assumptions that were applied in
2013 did not include the subsequent structural changes in national and international retail markets, such as the
growing share of retail sales by remote sellers and other global shifts in consumer behavior. The May 2013
estimates were conservative and based on general economic assumptions during the term of the debt repayment;
but the estimate was not a limit on the City’s sales tax revenue obligation. The assumed early “retirement” of the
Year
Metro
District
Revenue
City Sales Tax
Revenue
Non-Pledged
Sales Tax
Pledged
Increment
Bond
Payments &
Reserve
Increment
Returned to City
City
Contribution
2012 4.8
2015 2.1 5.0 5.0 2.5 4.6 - 2.5
2016 2.3 5.3 5.3 3.1 5.4 - 3.1
2017 6.5 5.4 5.4 3.2 9.7 - 3.2
2018 6.5 8.8 5.5 3.3 6.0 3.3 -
2019 6.7 9.0 5.6 3.4 5.7 3.4 -
TOTAL 15.4 6.6 8.8
Original Assumptions
sales tax increment, in whole or part, beginning in 2018 were not realized. With or without the Service Plan
Amendment, the City’s pledge of its sales tax increment will extend well into the debt repayment term.
The activities and properties within the District do not currently generate robust sales and property tax revenue
for debt payment under the current financing structure. When actual pledge revenues are less than those
forecasted, it is common to consider restructuring debt, including refunding the initial bonds and then refinancing
the project. Here, refunding the initial bonds would likely increase the City revenues pledged for its sales tax
increment – in part because the overall cost of financing will increase based on rate assumptions. Therefore, the
City’s pledged sales tax revenues from the current agreement will likely exceed the original estimate of $8.8 million
– it’s unclear by how much. Again, the City’s pledge will likely exceed this amount, with or without the Service
Plan Amendment.
We can, however, more clearly estimate the amount of City sales tax revenue necessary to meet its pledge under
the proposed Amendment. Based on the Financial Plan attached to the Amendment, the estimated sales tax
increment “invested” into the project is approximately $30.5 million, see Table 3 below. However, it should be
noted that the same conditions apply to the sales tax pledge that applied in 2013. This estimate assumes that we
can know the economic conditions for the entire term of the pledge – through 2038.
As additional context, it is important to note that the City’s sales tax increment pledge was designed to increase
overall revenue to the City, both in the near and long term, from increased retail sales. Currently, it is estimated
that the City will realize $78.4 million in non-pledged and base sales tax; however, if vacancy rates and other
trends in the area continue, the City may not receive the estimated non-pledged sales tax receipts. The purpose
served, in part, in refinancing the debt would be to increase the likelihood of continued, robust activities in this
area.
Table 3
Revised Sales Tax Estimates, 2025
METRO DISTRICT POLICY
Tax Revenue
Year
Est. Taxable
Sales
City Sales Tax
Revenue
(@ 4.35%)
Dedicated &
Non-Pledged
Taxes
(2.10% rate)
Pledged
Sales Tax
(2.25% rate)
LESS:
Collection
Admin Fee
LESS: Base
Collections
(2.25% rate)
Pledged
Increment
(2.25% Rate)
2025 119.7$ 5.2$ 2.5$ 2.7$ 0.0$ 1.8$ 0.8$
2026 75.3$ 3.3$ 1.6$ 1.7$ 0.0$ 1.8$ -$
2027 75.3$ 3.3$ 1.6$ 1.7$ 0.0$ 1.8$ -$
2028 164.3$ 7.1$ 3.5$ 3.7$ 0.1$ 1.8$ 1.8$
2029-2038
(Annually)208.1$ 9.1$ 4.4$ 4.7$ 0.1$ 1.8$ 2.8$
Total 2,515.6$ 109.4$ 52.8$ 56.6$ 0.8$ 25.6$ 30.5$
The City has an adopted policy for reviewing service plans for metropolitan districts that was originally adopted in
2008 and revised in both 2018 and 2021. The 2021 policy revisions focused on emphasizing disclosure and
transparency requirements and add an evaluation points system for the public benefits provided by metropolitan
districts (“Metro Districts”) serving primarily residential development.
Residential Evaluation Point System
The Foothills Metropolitan District was approved by Council in 2012 and later amended in 2013. The District
primarily exists as a financial conduit to create public financing to offset the cost of infrastructure required by the
redevelopment project. As such, its primary purpose is not to serve residential development; however, it clearly
funds significant infrastructure that will support residential development. The original project included 402
multifamily units, and the current proposal will increase that number by approximately 300 units.
The original District was adopted before the 2021 policy revisions. Additionally, the proposed project builds upon
a previous redevelopment not starting from scratch. As such, staff does not recommend strictly enforcing the
residential evaluation point system. However, the project vision does deliver on several aspects of the residential
point evaluation system. Below is an overview of the public benefits delivered by the proposed project:
Environmental Sustainability Outcomes
1. Green House Gas Reduction: shifting to a walkable urban-scaled village potentially reducing reliance on
the car and reducing overall greenhouse gas emissions; adaptive re-use of existing structure over
demolition; focus on recycling and re-use programs.
2. Water and/or Energy Conservation: committed to LEED certification of new construction.
3. Multimodal Transportation: Strengthen pedestrian and bike connections to College Ave underpass to
Max BRT; provide additional dedicated bike lanes and related bike infrastructure; provide six new “bike
gardens” throughout the site; 20-30% reduction in overall surface parking.
4. Enhance Community Resiliency: Repair and improve existing Low-Impact Development and district-wide
stormwater management systems; dramatically increase precent of permeable area.
Smart Growth Management
1. Increase Density: Densify a designated TOD site with approximately 300 new attached housing units
(range of product types: townhomes, stacked condominiums, and affordable rental); leverage existing
parking structure to achieve higher densities.
2. Walkability & Pedestrian Friendliness: Remove sprawling surface parking lots that act as a barrier
between the commercial core and surrounding residential areas; provide new protected pedestrian
connections between commercial core and College Avenue Shops.
3. Public Space: Re-envision east plaza; provide a new flexible “band shell” adjacent to the village green to
enhance opportunities for activation; remove portions of the mall roof to create more outdoor shopping
experience.
Strategic Priorities
1. Affordable Housing: Commitment to set aside approximately 30,000 square foot lot adjacent to the
existing parking structure at no cost for a 50–60-unit affordable housing project; project can leverage the
district owned garage reducing the cost to construct higher density product.
2. Attainable Housing: No deed restricted for-sale homes are proposed; however, the project is anticipated
to provide a range of attached housing types at a range of price points.
3. Infill/Redevelopment: Focus on 15-minute city design; redevelopment of 62 acres in the heart of
midtown; consistent with Midtown Plan (2013); served by existing infrastructure; no threat to open
space, farmland, or other greenfield sites that contribute to sprawl.
DISCUSSION / NEXT STEPS:
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
1) Does the Committee have any additional questions not answered by the materials provided? Or require any
additional information to evaluate the proposed amendment?
2) Does the Committee support sending the proposed First Amendment to the City Council for consideration?
Goal of more outdoor feeling shopping center instead of current older model?
30% less indoor space in future proposed models
Providing covered areas to accommodate for weather
Shared renderings of interior conversion to exterior style
Community feedback revealed want for more food/drink options
Mixed use space sometimes multi-storied
Kelly Ohlson: question regarding the $9M dollar sales tax estimate in 2013, the staff assumption at time did
not come to fruition.
Josh Birks; we thought $9M was going to be the likely exposure of the city based on the sales tax pledge at
the time. When there’s more revenue at the site, more sales tax is collected.
Kelly Ohlson: I would like to see tables or similar in future presentations at Work Sessions and Council.
I use the King Soopers on N. College as an example, discussed interest costs that get taken out of tax
increment that would have come to the public if it was a real cost. Language was evasive on the increase in
the PIF – that does cost residents more money. Need clarity on the cap of 1.25% in the PIF language.
Josh Birks; part of rationale from request of developer is to have flexibility.
Kelly Ohlson; disagreed on description of blight at Macy’s vacant site, would prefer not to bring into
discussion if possible. Disappointed we are not using the point system for this metro district.
Is the developer providing 50-60 units of affordable housing or is it 30k sq ft for someone else to build
affordable housing on it? Who is paying for the affordable housing?
Decision of how land will be given/bought will depend largely on partnership for group who may be
interested in adding new housing units.
Emily Francis; area of gap is after maxing out our LIHTC (Low-Income Housing Tax Credits), not adding any net
new housing, need to find funding for this.
Mayor Arndt; we need more details on other funding options, more assurances from group that they will
build affordable housing. Overall, more details on how this will be accomplished without displacing other
funding for city development projects.
Kelly Ohlson; need real specifics before we vote on this, who is paying for it? Built by when? What AMI? This
has to be more specific; this is what we are getting in this time period, and this is who is paying what. Details
needs to be nailed down, so we know what we are voting on.
Final ask: would like to know how much more potential public money via property taxes or the PIF is going
into this pot for this period of time, already been extended, expects number to be large (additional public
monies by five potential revenue sources?). This might be worthy of a Work Session.
Mayor Arndt; I acknowledge this is tough spot. I am happy there is interest in doing this, had same questions
about details on affordability as Kelly Ohlson. What is the doomsday scenario if not passed amendment?
We’ve seen costs increase unabated, retail has done really well post pandemic, right sized retail, construction
costs have far outpaced retail success, for new retail to be built, will need to pay 65-70% more than past for
construction. Didn’t anticipate how much construction would occur in 22-23 across country, dealing with cost
increase trends. Redevelopment of mall would not be possible, if not passed.
B. College & Trilby
Brad Buckman, City Engineer
Dana Hornkohl, Director of Civil Engineering
Monica Martinez, Planning Development & Transportation Finance Manager
EXECUTIVE SUMMARY
Final construction of the College Avenue-Trilby Road Intersection Improvements project (Project) will require
additional appropriations to complete work. There is sufficient transportation and stormwater funding available
to complete the Project if appropriated. It is necessary to either 1) appropriate additional funds to complete the
Project, 2) further reduce scope, or 3) delay final delivery. Reduction of scope will result in the Project not fully
meeting the established Project goals or adopted City standards and plans. Delaying final delivery until other
funding becomes available will negatively impact other transportation capital projects in the delivery pipeline.
Staff is recommending supplemental appropriations totaling $3,756,165 which would allow for completion of
the intersection improvements and significant utility infrastructure installation as intended when work began.
This request is coming before Council Finance Committee now to avoid additional cost impacts due to
potentially pausing and restarting active construction and design projects.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
Does Council Finance Committee support an off-cycle appropriation from the following funding sources: 1)
Stormwater Reserves, 2) Fort Collins Loveland Water District (FCLWD), 3) South Fort Collins Sanitation District
(SFCSD), 4) unanticipated revenue from the rent and sale of 945 East Prospect Road, 5) Community Capital
Improvement Program (CCIP) Arterial Intersection Improvements, 6) remaining funds in the Suniga
Improvements Project, and 7) Transportation Capital Expansion Fees (TCEF) to complete the College Avenue –
Trilby Road Intersection Improvements project?
BACKGROUND/DISCUSSION
Staff came before the Council Finance Committee and City Council in August/September 2024 seeking and
additional appropriation for the Project. The supplemental funding was requested to cover right-of-way and
easement acquisition costs over and above the estimated cost for this phase of the Project. Since the request
was granted, right-of-way acquisition has been completed.
Delays associated with right-of-way acquisition led the Project team to divide construction into three packages
based on the estimated acquisition dates for specific parcel locations. This allowed construction to begin in
areas where acquisition was complete. Construction Package One (CP1) began in Spring 2024 and was
completed in the Fall of 2024. CP1included Project earthwork and walls. The remaining construction included
new stormwater infrastructure and utility relocation (Package 2) as well as new paving, sidewalks, signals,
signing, striping, landscaping, irrigation, and urban design elements (Package 3). Staff began negotiating
construction pricing for these packages with the City’s Construction Manager/General Contractor (CM/GC).
It became evident that there were significant additional costs for 1) splitting the construction packages to take
advantage of available acquisitions and 2) longer construction schedules. With construction season coming to
close, and acquisition complete, the Project team decided to recombine all remaining work into Construction
Package Two (CP2) to minimize these additional costs. The estimated cost for CP2 was still significantly higher
than the City’s remaining Project budget. While construction cost inflation is not as severe as in 2022 and 2023,
it remains challenging, especially for projects that take significant time for planning, design, and acquisition. The
quarterly trendline for annual inflation percentage is 8.51% as measured by the Colorado Department of
Transportation (CDOT) Construction Cost Index (see Attachment 1).
The Project team has since undergone a significant value engineering effort to help bring the remaining
construction cost within the City’s budget. This effort in conjunction with reduced mobilization, duration of
project, and traffic and erosion control setups has brought the estimated construction cost of CP2 to within
~$1.3 million of the City’s available funding. Staff has identified traditional transportation capital project funding
sources that can be utilized to cover the shortfall (see Figure 2).
The Project includes significant water line replacement work for the FCLWD and limited sewer work for the
SFCSD. Including this work in the Project will minimize disruption to the traveling public. The City has entered
into intergovernmental agreements with the districts (see Attachments 2 and 3) and will be reimbursed for this
work as it is constructed and accepted by district staff. This is a routine partnership practice on transportation
capital projects. However, the total scope and estimated cost ($1,168,662) of the districts’ work in the Project is
relatively high compared to other recent capital projects. Now that agreements are executed and pricing is fixed,
a supplemental appropriation is needed to cover the cost of the districts’ work.
The Project also includes significant new stormwater infrastructure. This includes normal surface water
collection inlets and pipes associated with intersection improvement projects. It also includes significant
stormwater outfall infrastructure that is not typically included in this type of transportation work. The Fossil
Creek Stormwater Master plan was originally completed in 2001. Since this area was within Larimer County but
not within City limits, it was not studied for proposed future major stormwater improvements. The area that
includes the Project was annexed into the City in October 2006 as part of the Southwest Enclave Annexation.
The existing site and stormwater conveyance conditions have not changed significantly since the annexation,
including stormwater routinely overtopping the intersection and College Avenue north of the intersection. At
the onset of the Project, it was not envisioned that Stormwater Reserves funding would be needed to assist with
covering construction costs. This request was not planned for in the adopted City budget for 2025-2026.
The cost of establishing adequate stormwater outfalls was seen as above and beyond the typical costs
associated with transportation capital improvement projects (see Attachment 4). Fort Collins Utilities has agreed
and is prepared to contribute Stormwater Reserves funding ($1,294,934) to the Project to cover the
construction costs associated with establishing these outfalls. This work will allow for future development and
redevelopment in and around the intersection of South College Avenue and Trilby Road.
In addition to this request from Stormwater Reserves, Water Utilities leadership anticipates bringing forward a
request at the March 2025 Council Finance Committee for a supplemental appropriation of $1,500,000 for the
Oak Street Stormwater Improvement Project (OSSP). This supplemental appropriation will add to the overall
OSSP budget to cover anticipated project expenses with a minor contingency. Water Utilities leadership
reviewed both requests for funding and are confident the Stormwater Utility reserve balance can accommodate
both requests.
Figure 1 depicts the funds that have been appropriated to the Project.
Figure 1 - Prior Appropriated Funds
Figure 2 depicts the proposed supplemental appropriations to the Project.
Highway Safety Improvement Program (HSIP) Grant Funds 2,250,000$
Congestion Mitigation and Air Quality (CMAQ) Improvement
Program Grant Funds 748,732$
Funding Advancements for Surface Transportation and Economic
Recovery (FASTER) Act Grant Funds 3,500,000$
Highway Improvement Program (HIP) Grant Funds 1,870,000$
Surface Transportation Block Grant (STBG) Program Funds 5,272,260$
SUBTOTAL 13,640,992$
Transportation Capital Expansion Fee (TCEF) Funds 1,511,420$
Transportation Services Fund 20,750$
Transportation Improvement Fund 11,900$
Development Contributions to Construction 52,963$
Community Capital Improvement Program (CCIP) Arterial
Intersection Improvements 2,800,000$
SUBTOTAL 4,397,033$
TOTAL PRIOR APPROPRIATION 18,038,025$
Prior Appropriated Funds
Grant Funding (Federal and State)
Local Funding
Figure 2 - Funds Proposed to be Appropriated per Future Action (Local Funding)
Staff has identified three alternatives to reach final completion on the Project.
• Option 1: Secure off-cycle appropriations for the Project to complete construction and avoid additional
costs without delaying the work. There is currently sufficient transportation and stormwater related
funding to cover the proposed appropriation.
• Option 2: Further reduce the scope of work for the Project. The Project has been value engineered to
minimize costs. Additional reduction of scope would potentially compromise project goals or limit the
ability to meet City standards.
• Option 3: Delay final delivery until additional funding can be secured. This option may jeopardize grant
funding awarded to the Project and would result in the Project not meeting the identified goals within
the promised timeframe, expose the remaining work to further inflation, and would impact the schedule
and budget for other transportation capital projects in the design, acquisition, and construction pipeline.
Project Details and Background
In 2020, the City’s Arterial Intersection Prioritization Study identified the intersection of Trilby Road and South
College Avenue (also known as State Highway 287) as a high priority due to traffic safety and congestion issues,
as well as a lack of active modes infrastructure. CDOT has also identified this intersection as a high priority to
address serious injury crashes.
Engineering, Traffic Operations and FC Moves staff identified the following safety and operational concerns with
the current intersection: 1) high frequencies of approach turn crashes and rear-end crashes; 2) a lack of bicycle
and pedestrian accessibility and infrastructure; 3) high volumes of motorists on the north-south legs of South
College Avenue; and 4) increasing volumes on the east-west approach legs of Trilby Road. The Project design
effort began in 2020.
The reconstructed intersection (see Attachments 5 and 6) will improve safety for current and future traffic levels
as growth continues in the region and will create a safer intersection for all users. The new intersection will
feature dual left turn lanes from South College Avenue to Trilby Road, right turn lanes for each direction of
Stormwater Reserves Fund 1,294,934$
Fort Collins Loveland Water District (FCLWD)1,139,824$
South Fort Collins Sanitation District (SFCSD)28,838$
Proceeds from Rent and Sale of 945 East Prospect Road 380,673$
Community Capital Improvement Program (CCIP) Arterial
Intersection Improvements*400,000$
Reappropriation of Suniga Improvements Project to College
Avenue-Trilby Road Intersection Improvements Project 246,503$
T ransportation Capital Expansion Fee (TCEF) Funds 265,393$
Total Proposed Funds to be Appropriated per Future Action 3,756,165$
Proposed Transfer to Art in Public Places 30,789$
Total Proposed Project Funds 21,794,190$
*Note: CCIP funds previously appropriated through 2025-2026 budget adoption.
Funds Proposed to be Appropriated per Future Action (Local Funding)
travel, and a widened Trilby Road approach to South College Avenue. Pedestrians and bicycles will benefit from
shared use paths on South College Avenue (8-foot wide detached) and Trilby Road (8-foot wide attached).
Transit users will benefit from new bus stops on the south side of the intersection on South College Avenue
DISCUSSION / NEXT STEPS
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
Does Council Finance Committee support an off-cycle appropriation from the following funding sources:
1) Stormwater Reserves, 2) Fort Collins Loveland Water District (FCLWD), 3) South Fort Collins Sanitation District
(SFCSD), 4) unanticipated revenue from the rent and sale of 945 East Prospect Road, 5) Community Capital
Improvement Program (CCIP) Arterial Intersection Improvements, 6) remaining funds in the Suniga
Improvements Project, and 7) Transportation Capital Expansion Fees (TCEF) to complete the College Avenue –
Trilby Road Intersection Improvements project?
Mayor Arndt: is this one of our most dangerous intersections? Did we address slip lane questions?
Dana Hornkohl; Yes, some improvements to light signals should help further improve safety.
We have reached out to community on that, and we don’t have receiving lanes – if you are making a right
turn you have a lane to turn into but there is no receiving lane there. (see below).
Kelly Ohlson; clarification needed on the money, $18M total appropriations, what was original estimate
before first reappropriation? Original believed to be $ 14.5M (2022) (see below)
In the future revisit developer involvement with future repayment for portions of this project to use space?
Are we working on things to not have these unanticipated costs go up and down?
Dana Hornkohl; hard to account for fluctuation in certain core necessary materials, getting better and more
regular updates to estimates.
C. SE Community Center
Dean Klingner, Community Services Director
LeAnn Williams, Director, Recreation
Victoria Shaw, Finance Senior Manager, Community Services
EXECUTIVE SUMMARY
The Southeast Community Center, a City of Fort Collins and Poudre River Public Library District (PRPLD)
partnership, is in the early stages of design. The project has a scope and funding history that dates back to the
2015 voter approval of the Community Capital Improvement Tax which included a Community Center with an
Outdoor Pool.
In the intervening years, additional developments have made expanded opportunities possible. These include
completion of multiple studies and plans, a partnership with PRPLD, and a potential funding partnership with
Poudre School District.
Over the next few months, the design team will be developing funding and scoping options to inform City
Council, the PSD School Board, and the Library District Board decisions. As the project team has been generating
estimated costs for the facility, a funding gap has been identified. Staff will bring the potential options for a
facility with capital and operations projected costs. Staff will present some options for funding each scope of
facility while identifying potential tradeoffs in future capital funding of recreation and pool facilities.
This conversation is intended to give a preview and receive feedback of the presentation and funding options to
City Council at the work session on February 25, 2025.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
What questions do Committee members have about the background, status and upcoming steps for this
project?
What feedback do Committee members have about the capital, operations, maintenance, and asset
replacement options presented?
What feedback do Committee members have on the SECC options and potential funding stacks that will be at
the Council work session Feb 25, 2025?
BACKGROUND/DISCUSSION
This project includes over 11 years of project development from the completion of a 2013 Feasibility study
through today. Due to the volume of background information, this Agenda Item Summary presents the
background in summary, not complete detail.
• In October of 2013 the City completed the “Fort Collins Southeast Community Recreation & Arts Center –
Summary of Needs and Development Plan.” This study provides valuable information about the origination
of the idea of a facility in SE Fort Collins, but is now old enough that it does not reflect current community
needs.
• In January of 2021 City Council adopted “ReCreate, Parks and Recreation Master Plan.” This document is the
“north star” for guiding parks and recreation policy and investment and highlights the need and plan for a
Southeast Community Center at a high level.
• In 2022, at Council request, the City completed a more detailed aquatics study to understand the demand,
options and opportunities for public aquatics facilities in Fort Collins.
• In 2022, City Council held two Work Sessions and a Council Finance Committee discussing this project. No
decisions were made, and as a result of these meetings, City staff continued to work with the Library and
PSD as potential partners and began to consider a larger facility than required in the ballot language that
could be phased or funded through a future funding source.
• In November of 2023, the 2050 1/2-cent sales tax passed with the following ballot language: “50% for the
replacement, upgrade, maintenance and accessibility of parks facilities and for the replacement and
construction of indoor and outdoor recreation and pool facilities.”
• The 2023-24 City Budget included funds for project development and design. City staff has been actively
working on this phase of the project since the 1st quarter of 2024. Progress to date has included hiring of an
Owners Representative, a Design Firm / Architect, and a General Contractor.
• Staff will be at two work sessions in February and April, with the intention of finalizing scope, budget and
combination of potential funding sources (funding stack) for the project.
DISCUSSION / NEXT STEPS
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
What questions do Committee members have about the background, status and upcoming steps for this
project?
What feedback do Committee members have about the capital, operations, maintenance, and asset
replacement options presented?
What feedback do Committee members have on the SECC options and potential funding stacks that will be at
the Council work session Feb 25, 2025?
Kelly Ohlson; would be good to have a legend for the slide above for the upcoming Work Session.
Kelly Ohlson; I am probably sitting in the Option 2B camp (or at least supports)
Are you going to meet the City’s LEED gold certification? Option 3 is a stretch for me - 2- 3 pools
Dean Klingner; Estimates are based on reaching community LEED standard which is gold.
Kelly Ohlson; I would like to include in the materials where we started with – the ballot
Dean Klingner; $14M was on the ballot (in 2015 dollars)
Kelly Ohlson; why are we in the childcare business with this project?
LeAnn Williams; all day childcare (7:30 am – 5:30 pm), pre-school/summer camp, childcare/youth
development is important to creating a great community, economic driver that allows parents to work, limits
their income and ability for job growth. This is our way of contributing to overall health of community.
Kelly Ohlson; will these be city employees?
LeAnn Williams; yes, they are now
Kelly Ohlson; do we have some type of sliding scale for payments? (those that are able to pay are paying)
LeAnn Williams; same as we currently use for our summer camps (38-40% of participants are on a reduced
fee program). For Universal Pre-K (UPK) 15 hours of Pre-K is a state-run program and they reimburse us.
Emily Francis: before UPK we did these programs and just called them something else?
LeAnn Williams; correct
Emily Francis; for all of the options in the shared spaces, that is kind of the same throughout?
LeAnn Williams; yes
Emily Francis; through community outreach, I assume we are hearing more than the recreation side but also
hearing what folks want on the shared spaces side?
Dean Klingner; we are actually just starting up the launch of our outreach. We want to be clear on what we
are asking folks about. The shared spaces are a key part of this.
Emily Francis; we need more focus on the shared spaces aspect of this and clarity on if we are going with
intent of ballot in terms of pool or above and beyond?
Mayor Arndt; please look into shared spaces/ care centers – they are quite remarkable. With the library, we
have an opportunity to have something really special.
Kelly DiMartino; we can say in the Work Session materials that the Council Finance Committee preferred that
the team focus more on Option 2B – maybe spend more time on that option that 1 or 3. We would still show
the full Council the range of things that were considered.
Meeting Adjourned
1
COUNCIL FINANCE COMMITTEE
AGENDA ITEM SUMMARY
Staff:
Sylvia Tatman-Burruss, Project Manager
Joe Wimmer, Financial Analyst
Date: March 6, 2025
SUBJECT FOR DISCUSSION
Revolving Loan Fund - Capital Improvement Quarter-Cent Tax Renewal
EXECUTIVE SUMMARY
The purpose of this item is to update the Council Finance Committee (CFC) on considerations to
increase affordable housing resources and changes to the management and use of those funds. This
strategy is being considered within the Capital Improvement Quarter Cent Tax Renewal package. This
renewal is targeting the November 2025 election.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
1. What questions/suggestions do committee members have regarding the proposed options for the
affordable housing funding within the tax renewal package?
BACKGROUND/DISCUSSION
The current Community Capital Improvement Program (CCIP) tax will expire on December 31, 2025.
Staff is currently working to create a package to offer voters as a renewal in November 2025 for a tax
that would run from January 1, 2026, to December 31, 2035.
Current Housing Package and Program
- The current CCIP packages includes $4 million for the Affordable Housing Capital Fund over 10
years. That fund has traditionally been used as “last in” gap financing for projects that are
otherwise fully funded. Uses include direct subsidy and fee credits.
- Those funds are utilized as grant funding and those funds are not returned.
- Those funds have been very useful for filling gaps and such funding resources are limited.
Summary of projects funded utilizing the fund since 2017:
• From 2017 through 2021, 4 projects have been funded.
• Projects funded have served residents at income levels of 30% - 80% of Area Median Income
(AMI).
• Total usage of the fund has been just over $1.8 million across 4 projects since 2017 either as
direct subsidy or as fee relief.
Proposed Program Changes
Staff have been exploring the use of funds as a revolving loan fund (RLF). This would allow the City to
bond against $10 million of sales tax revenue and utilize those funds as low-interest loans to affordable
housing projects. The total expected amount of the bond issuance would be about $7.5 million. The
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sales tax revenue would pay the debt service on the bond over the life of the ten-year sales tax. The full
amount of the funds could be utilized within the first year of issuance, 2026.
Program Considerations
Staff is seeking to utilize CCIP funds more effectively to achieve Council’s adopted priority to
“operationalize City resources to build and preserve affordable housing.” In exploring options for a RLF,
staff began with several assumptions:
- The primary goal of the RLF is to accelerate the pipeline of affordable housing development
- The RLF should provide below-market terms to maximize benefit to housing developments
- The RLF should be flexible to adapt to changing market conditions
- The RLF should revolve, allowing funds to serve multiple developments over time
Staff has worked with housing partners and housing finance experts to analyze the potential benefits of
two primary uses of RLF funds:
1. Short-term construction financing – loans covering the construction period of a development
(roughly 24-36 months).
2. Long-term project financing – loans used as an equity source in a development for the life of a tax
credit partnership (15-18 years).
Both types of financing have benefits and drawbacks. Short-term financing saves on construction
interest, and the funds can revolve more quickly if the loan terms are only 2-3 years. However, staff have
learned that long-term project financing provides the most benefit to potential affordable housing
developments. If the primary goal of the RLF is to accelerate the pipeline of affordable housing
development, using most of the fund for long-term financing will create more new units more quickly.
Using a hypothetical example of a 75-unit affordable tax-credit development, staff found that using RLF
funds for construction saves the project money on interest during the construction period. This is helpful,
but not sufficient to make a project possible. In this case, the hypothetical project still had a long-term
financing gap of more than $4 million. Using the potential RLF funds for long-term financing on the same
hypothetical project resulted in a project with no financing gap because the low-interest funds were able
to stay in the project over time.
Because there are benefits to both types of financing, staff has proposed a structure for the RLF that
would allocate about 2/3 of the fund to a long-term investment, with the remaining 1/3 available for
shorter-term needs.
Hybrid Model: Long- and short-term investment, lower annual payments to City
$5M into one project as longer-term investment
• Interest rate: if 1%
• Annual payment to City: $50,000 interest-only
• Loan term: 16 years
$2.5M reserved for shorter-term investments (2-3 years)
• Interest rate: Varies, if 1-3%
• Annual payment to City: Varies, $25k - $75k
• Loan term: 3 years or less
Pros: Accelerates housing pipeline; creates new gap source of funding; replicable; balances long- and
short-term needs
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Cons: Majority of fund revolves slowly; potential for smaller total interest payments to City; need shovel-
ready projects for $2.5M portion of fund
Loan interest paid to the City could have flexible options of application. Interest payments could grow the
amount of the revolving loan fund over time, or contribute to lowering annual debt service payments of the
bond. Alternatively, interest could be used in the traditional use of the Affordable Housing Capital Fund –
collecting in the fund to be used as fee credits or direct subsidy to developments.
Headline Copy Goes Here
1
Headline Copy Goes Here
2
Question for Council Finance
What questions/suggestions do committee members have regarding the proposed
options for the affordable housing funding within the tax renewal package?
Headline Copy Goes HereCurrent CCIP & Affordable Housing Funding
•Ten year, ¼ cent sales tax approved by voters in 2015
•$83 million total over 10 years to fund:
•17 identified capital projects – e.g., infrastructure,
road projects, and similar
•$4 million for Affordable Housing Capital Fund
over 10 years
Headline Copy Goes Here
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Current CCIP Affordable Housing Funding
Status Quo 2016-2025 Fund ($4.0M)
•Development “last in” gap financing
•Equity / direct subsidy
•Fee Credits
Considerations:
•Funds are granted to projects and are not
returned
•Does not significantly “speed up” the pipeline
•Has been used to fill gaps for multiple
projects
•Small portion of funding “stack”
Headline Copy Goes Here
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Uses of CCIP Housing Fund to Date
Year Amount Project Units AMI Type Ord. #
2022-2023 $610,000 Oak 140 79 30-80%Direct
Subsidy
2021-069
2020 $92,662 Mason Place 60 30% or less
(PSH)
Direct
Subsidy
2018-052
2019 $100,000 Mason Place -30% or less
(PSH)
Fee Relief 2019-140
2019 $300,000 Mason Place -30% or less
(PSH)
Direct
Subsidy
2018-052
2018 $484,000 Mason Place -30% or less
(PSH)
Direct
Subsidy
2018-052
2018 $90,923 Oakridge
Crossing
110 30-60%Fee Relief 2018-067
2017 $112,500 Village on
Horsetooth
96 30-80%Fee Relief 2017-142
Headline Copy Goes HereAffordable Housing CCIP Options
Future 2026-2035 Fund: Proposing $10 Million
•$7.5M 10-year bond in 2026
•Revolving Loan Fund (RLF)
•Low-interest loans (1-3%)
•Short-term (<5 years), construction (length of project), and/or
longer-term (>5 years) loans for affordable housing
developments
•City makes debt service payments and receives interest on loans
•Principal repayment is re-invested in the loan fund
Headline Copy Goes Here
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Revolving Loan Fund
•Used by other jurisdictions across the country
•Flexible funding mechanism
•Funds “revolve” and grow through interest and principal payments
•Benefit development through lower-interest loans
Headline Copy Goes Here
8
Potential Mechanism: Housing Revolving Loan Fund
10-year Bond Issuance
$7.5M
Housing Revolving Loan
Fund
(administered by partner)
Fund Administrator
Longer-term loans
(>5 years)
Construction loans
(length of project)
Short-term loans
(<5 years)
Voters approve
CCIP and Bond
Authorization
$10M ($1M/Year)
Debt Service Payments
(10 yrs; City)
Interest payments Repayment of loan
principal
Headline Copy Goes Here
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Affordable Housing Capital Fund Options
Tool 1: Status Quo – Credits
& Equity
Current affordable housing
fund structure
•Fee waivers/credits
•Direct subsidy/equity
•Does not revolve
•May not substantially
accelerate pipeline
Tool 2: Short-term loans
Construction or
Predevelopment Loans
•Less than 5 years
•1-3% Interest rate
•May not substantially
accelerate pipeline
Tool 3: Long-term loans
Long-term financing
•Greater than 15 years
•1% Interest rate
•Allows for the utilization of
different tax credit tools
•Better advances pipeline
Headline Copy Goes Here
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Revolving Loan Fund Model Proposal
Hybrid Model: Long- and short-term loans, interest generation for flexible application
$5M into one project, long-term investment
•Interest rate: if 1%
•Annual payment to City: $50,000, interest only
•Loan term: 16 years
$2.5M reserved for shorter-term investments (2-3 years)
•Interest rate: Varies, 1-3%
•Annual payment to City: Varies, $25k - $75k
•Loan term: 3 years or less
Pros: Accelerates housing pipeline; creates new gap source of funding; replicable; balances long- and
short-term needs
Cons: Majority of fund revolves slowly; potential for smaller total interest payments to City; need shovel-
ready projects for $2.5M portion of fund
Headline Copy Goes HereAdministration of Funds
Partner Function for Fund Administration
•Staff exploring potential administrative partnership
bringing expertise in development financing,
underwriting and risk assessment.
•Loan amortizations and accounts receivable
functions.
•Legal review and contract execution.
•City leadership and Housing staff oversight.
Headline Copy Goes Here
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Question for Council Finance
What questions/suggestions do committee members have regarding the proposed
options for the affordable housing funding within the tax renewal package?
Headline Copy Goes Here
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RLF Fund Mechanisms
CCIP 10-year Bond
Issuance
$7.5M
Housing Revolving
Loan Fund
Housing Partner /
Development
$7.5M @ 1% = $75k
$1.0M sales tax
debt service payments
(10 years)
Loan:
Development
Financing
(short/long)
Lease-Up
Permanent
Refinancing
$7.5M Principal to
revolve fund
•Debt service subsidy?
•Fee relief?
•Revolving Loan Fund
growth?
COUNCIL FINANCE COMMITTEE
AGENDA ITEM SUMMARY
Staff:
Ginny Sawyer, Project Manager
Dean Klinger, Community Services Director
Joe Wimmer, Financial Analyst
Date: March 6, 2025
SUBJECT FOR DISCUSSION
Capital Improvement Quarter-Cent Tax Renewal
EXECUTIVE SUMMARY
The purpose of this item is to update the Council Finance Committee (CFC) on continued development in
building a package of projects for the capital tax renewal. This renewal is targeting the November 2025
election.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
1. What questions/suggestions do committee members have regarding the current projects and/or
timeline?
2. Are there projects Councilmembers recommend removing, scaling, or adding?
BACKGROUND/DISCUSSION
The current Community Capital Improvement Program (CCIP) tax will expire on December 31, 2025.
Staff is currently working to create a package to offer voters as a renewal in November 2025 for a tax
that would run from January 1, 2026, to December 31, 2035.
Key attributes of this renewal include the long history of utilizing this tax for community good, a renewal
does not increase taxes, and this tax and other dedicated taxes are not applied to grocery purchases.
Staff was last at Council Finance in October 2024 and presented to the full Council in November 2024.
Future Council touchpoints include:
- May 27, 2025 work session
- July 8, 2025 work session
- July 15 or August 19, 2025 ballot referral (to be scheduled)
Potential Projects
Since mid-2024, staff has been creating, culling, and refining a potential project list. Projects are
generated through existing masterplans, known items of community interest, and consideration of
Council priorities. Project consideration and rationale have included:
- Looking at historical funding and ability to leverage dollars. This is especially true in the
transportation area as dedicated revenue helps create local match dollars for grant programs.
- Looking at current unpredictability in inflation and grant availability, efforts have been made to
balance a level of flexibility and a degree of certainty for project outcomes. Examples of this
include combining some of the fund buckets around outcomes (i.e. Bicycle Infrastructure and
Overpass/Underpass Program) to allow for opportunity-based project selection.
- Looking for opportunities to respond to community feedback for both amenities and
improvements. Examples here include pickleball courts, trail development, and investments at
Lee Martinez Farm.
- Looking to advance Council priorities and community values including affordable housing, climate
goals, and environmental enhancements.
The current project, list at requested funding amounts, is approximately $152M. Tax revenue from 2026-
2035 is estimated at $110M. Staff will continue to work with Council and conduct public outreach to help
inform both scaling of projects and removal of projects.
Greater detail on all projects is attached as is a draft balanced package.
ATTACHMENTS
1. Package and Project Sheets
Headline Copy Goes Here
Ginny Sawyer -Lead Policy and Project Manager
Dean Klinger, Community Services Director
Joe Wimmer –Senior Financial Analyst
Capital Sales Tax ¼-
cent Renewal
Council Finance Committee
March 6, 2025
Headline Copy Goes Here
2
Direction Sought
What questions do Councilmembers have regarding current
proposed projects and/or timeline?01
Are there projects Councilmembers recommend removing,
scaling, or adding?02
Headline Copy Goes Here
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Renewal Timeline
2024 Q1 2025 Q2-Q3 2025 Q4-2025
›November ballot›Begin Public Outreach and
Engagement
›Refinement of all projects
and Programs
Council Touchpoints:
›March CFC
›Start to finalize total
package
›Continue outreach
Council touchpoints:
›May 27, work session
›July 8, work session
›July 15 or August 19 Ballot
referral
›Begin package
Development
›February Work Session
›March CFC
›April Work Session
›July CFC
›October CFC
›November Work Session
Headline Copy Goes Here
4
Capital Tax – Successful Project Package
Asset Management & Master Plans
Council Priorities
Community Appeal
Headline Copy Goes Here
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Considerations
• Historical uses and ability to leverage dollars.
• Level of unpredictability: balancing flexibility and project certainty.
• Being responsive to community feedback and desires.
• Advancing Council priorities.
Headline Copy Goes Here
Headline Copy Goes Here
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Totals & Summary
¼ Cent Tax Revenue
•$11M annual revenue (2024)
•$110M total revenue 2026-2035
Proposed Projects
•$152M total project proposals to-date (2024)
Chart includes all proposed projects ($152M)
Headline Copy Goes Here
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Comprehensive Project List
Parks & Recreation
•Bike Park (Early Phase)
•Dog Parks
•Downtown Parks Shop
•Lee Martinez Farm
Renovation
•Recreation Replacement
for Mulberry Pool
•Pickleball Courts
Active Modes
•Bike Infrastructure
and Overpass/
Underpasses
•Pedestrian
Sidewalk Program
•Strategic Trails
Implementation
Zero Waste
Infrastructure
•Timberline Recycling
Center
Improvements
•Construction Waste
Diversion Equipment
Housing
•Affordable
Housing Fund
Culture
•Children’s
Garden and
Event
Infrastructure
•Downtown
Trolley Building
Renovation
Transit
•Transfort Bus Stop
Upgrades and Bus
Replacement
Nature & River
•Poudre River Health
& Accessibility
•Nature in the City
Mobility/Safety
•Arterial Intersection
Improvement
Program
•Jefferson Street
(College-Linden)
•Jefferson Street
(Linden-Mountain)
•Willow Street
Streetscape
Headline Copy Goes HereOngoing Capital Programs-Transportation/Engineering
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Arterial Intersection Improvement Program $18M
• Shields and Prospect Intersection Improvements
• Shields and Horsetooth Intersection Improvements
• Drake and Lemay Intersection Improvements
• College and Drake Intersection Improvements
• Shields, Taft Hill, and N. Timberline Corridors
• At least one streetscape project
Bicycle Infrastructure & Overpass/Underpass
Program $20M
•Numerous bike lane and safe route to School projects
•Potential grade separated crossings:
•Power Trail connection to Caribou Drive
•Power Trail connection to Nancy Gray Drive
•Linden Street and Poudre River Trail
Headline Copy Goes Here
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Pedestrian Sidewalk Program: $16M
•Funding for construction of missing and ADA deficient sidewalks.
•Provides approximately 1.5 to 2 miles of new sidewalk per year.
•Priority is given to areas near schools to advance the Safe Routes to
School Program.
Transfort Bus Stop Upgrades and Bus Replacement: $6M
•Approximately 150 bus stops will need replacement and updated
amenities over the next 10 years.
•At least 30 buses, including eight articulated MAX buses, reach
•the end of useful life in the next 10 years. The previous 10-year
capital tax funded $3M towards Transfort’s local match to leverage
$12M in federal funds.
Strategic Trails Implementation: $10M
•Paved trails cost approximately $1 million per linear mile to build.
•Additional annual funding through the capital tax will leverage
Conservation Trust Funds and expedite trail implementation.
Ongoing Capital Programs-Transportation/Engineering
Headline Copy Goes HereHousing
11
Affordable Housing Fund $10M
•Revolving Loan Fund start-up
•Bonding against the sales tax to
create $7.5M in available funds
Headline Copy Goes HereParks & Recreation
12
Recreation Replacement of
Mulberry Pool $10M
Dog Parks $2.5M
Pickleball Courts $4M
Bike Park (Early Phase) $5M
Lee Martinez Farm Renovation
and Facility Expansion: $1M
Downtown Parks Shop: $7.9M
Headline Copy Goes HereCultural Amenities
13
Children’s Garden and Event Infrastructure Upgrades:
$5.5M
•A comprehensive renovation will rejuvenate the space to better
align with current learning theory, and to address drainage and
maintenance issues.
Downtown Trolley Building $6.8M
o Building has been identified in the Downtown Masterplan
as asset for community centered use
o Currently houses object artifact collection and other
storage
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14
Nature and Environment
River/Accessibility Projects $8M
•Looking at Lee Martinez and Legacy Park area to College
•Focus on access for neighborhoods north of the river and river health – expanded
scope to include Hickory Trail and Soft Gold Park
Timberline Recycling Center Improvements $2.2M
•ADA accessibility through ramps and walkways.
•Expanded access to recycling bins to meet demand.
Construction Waste Diversion Equipment Replacement: $2.1M
•Five pieces of heavy machinery that support the Crushing and Recycling Facility.
•In 2023, this facility processed approximately 138,000 tons of concrete and asphalt for
reuse and diverting this material from the landfill.
Nature in the City (NIC): $3M
•City-led projects replace existing, resource-intensive and low habitat value landscapes
with more diverse and efficient landscapes.
•Community-led projects support efforts to extend naturalized landscapes throughout
the community.
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16
Draft Project Package – March 2025
Project Name 10-Year Total (2024$)
Arterial Intersection Improvement & Streetscapes Program 12,000
Bicycle Infrastructure & Overpass/Underpass Program 11,000
Pedestrian Sidewalk Program 14,000
Recreational Paved Trails Program 2,500
Transfort Bus Replacement & Stop Enhancements 3,000
Affordable Housing Capital Fund 10,000
Community Bike Park 5,000
Downtown Park Shop 7,900
Lee Martinez Farm Renovation & Expansion 1,000
Mulberry Pool Replacement and Expansion 10,000
Pickleball Complex & Courts 4,000
Gardens on Spring Creek -Garden & Infrastructure 1,300
Historic Trolley Building Renovation 6,800
Downtown River - Legacy Park to River's Edge Natrual Area 8,000
Nature in the City 3,000
Timberline Recycling Center Improvements 2,198
Total $ 101,698
Unfunded Projects
Construction Waste Diversion Equipment 2,204
Dog Parks 2,450
Public Transit Major Capital 16,000
Total $ 20,654.00
Headline Copy Goes HereNext Steps
17
•Continue to refine projects
and programs
•Public outreach &
engagement
•Finalize package
•Refer to 2025 ballot
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18
Direction Sought
What questions do Councilmembers have regarding current
proposed projects and/or timeline?01
Are there projects Councilmembers recommend removing,
scaling, or adding?02
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20
Capital Tax 2016-2025
Current Engineering/Transportation-Type Funds
•Arterial Intersection Improvements $6.0 M
•Bicycle Infrastructure Improvements $5.0 M
•Bike/Ped Grade Separated Crossing Fund $6.0 M
•Bus Stop Improvements $1.0 M
•Pedestrian Sidewalk / ADA-Compliance $14.0 M
•Transfort Bus Fleet Replacement $2.0 M
New Program Funds
•Affordable Housing Fund $4.0 M
•Nature in the City $3.0 M
Current Capital-Type Projects
•Lincoln Ave. Bridge $5.3 M
•Linden St. Renovation $3.0 M
•SE Community Center w. Pool $14.0 M
•Gardens on Spring Creek Visitor's Center $2.0 M
•Willow Street Improvements $3.5 M
•Carnegie Bldg. Renovation $1.0 M
•City Park Train $350K
•Club Tico Renovation $250k
•Downtown Poudre River Enhancements Whitewater Park $4.0 M
Approximately half of revenue used for engineering/transportation related activities
and half used for new capital amenities
Headline Copy Goes HereDedicated Capital Tax Since 1973
21
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22
Tax Renewals Over Time
Long-term Look at Possible Tax Renewals
ASSUMES 10 YEAR TERMS
20502045204020352030202520202015
Open Space Yes
(25 yr.) | 2006 - 2030
KFCG
(10 yr.) | 2011 - 2020 KFCG.25
(10 yr.) | 2021 - 2030
Assume KFCG
(10 yr.) | 2031 - 2040
Street Maintenance
(10 yr.) | 2016 - 2025 Assume Street Maintenance
(20 yr.) | 2026 - 2045
Community Capital
Improvement
(10 yr.) | 2016 - 2025
Assume
Capital Renewal
(10 yr.) | 2026 - 2035
Assume
Capital Renewal
(10 yr.) | 2036 - 2045
2050 Tax Parks, Climate, Transit
(26 yr.) | 2024 - 2050
Assume Open Space Yes
(25 yr.) | 2035 - 2050
COUNCIL FINANCE COMMITTEE
AGENDA ITEM SUMMARY
Staff: Lawrence Pollack, Budget Director
Date: March 6, 2025
SUBJECT FOR DISCUSSION
Review of the 2025 Reappropriation Ordinance to appropriate prior year reserves.
EXECUTIVE SUMMARY
The purpose of this item is to reappropriate monies in 2025 that were previously authorized by
City Council for expenditures in 2024 for various purposes. The authorized expenditures were
not spent or could not be encumbered in 2024 because:
• There was not sufficient time to complete bidding in 2024 and therefore, there was no known
vendor or binding contract as required to expend or encumber the monies; or
• The project for which the dollars were originally appropriated by Council could not be
completed during 2024 and reappropriation of those dollars is necessary for completion of
the project in 2025.
Additionally, there may have been sufficient unspent dollars previously appropriated in 2024 to
carry on programs, services, and facility improvements in 2025 for those specific purposes.
In the above circumstances, the unexpended and/or unencumbered monies lapsed into individual
fund balances at the end of 2024 and reflect no change in Council policies.
Monies reappropriated for each City fund by this Ordinance are as follows:
Total $5,572,540
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
Does the Council Finance Committee support moving forward with the 2025 Reappropriation
Ordinance on the Consent Agenda at the March 18, 2025 Council meeting?
BACKGROUND/DISCUSSION
The Executive Team has reviewed the Reappropriation requests to ensure alignment with
organization priorities and the Budget staff reviewed the requests to verify that all met qualification
requirements. The 2025 Reappropriation requests are as follows, by fund:
GENERAL FUND
City Clerk’s Office
1) Ranked Choice Voting preparation - $67,978
Purpose for funds: At the November 2022 election, voters approved ranked choice voting.
Starting in 2025, the City of Fort Collins must use ranked voting methods to fill Mayor and
District Councilmember seats for coordinated and/or City-run elections when there are three
or more candidates. The City is required to provide the instructions, training, procedures and
services required to educate the community and implement this new way of voting in
collaboration with the County and others. Due to the increased cost of ranked voting that the
City is responsible for, the election itself will likely exceed the budgeted amount for FY25.
A portion of the reappropriated funds will be used for this purpose. Additionally, the City
Clerk's Office is obligated to educate the public on this new style of voting, and the
remaining reappropriated funds will be used on marketing and outreach to the community.
This includes mailings, newspaper, social media and other advertising, event costs, necessary
informational materials/video, mock election materials, and other supplies for effectively
communicating this initiative to the public. While the City Clerk's Office is looking for
creative ways to partner with other organizations and community groups, a large cost for
planned outreach efforts is expected.
Reason funds not expensed in 2024: The City Clerk's Office has been in a state of transition
over the last year, running under adequate staffing levels and bringing on new team
members. While ranked voting was identified as a major priority, planning for outreach and
coordination efforts in the first half of 2024 was not feasible. This was due, in part, to the
efforts required to get Charter amendments and other ballot questions approved and then
working with the County on a coordinated 2024 election. Planning discussions and staff
education related to ranked voting began in the fall of 2024, but many of the necessary items
could not be purchased or encumbered so far from the 2025 election date as related materials
and other items had yet to be developed. This work is currently underway. Staff is working
with the County, CSU, PSD and the League of Women Voters to find ways to collaborate on
these efforts and share some costs. However, we expect there will continue to be a
significant cost for the City related to ranked voting efforts to ensure we effectively get the
word out and help train voters. Reappropriating these funds will contribute significantly to
our communication and outreach strategies.
Economic Health Office
2) Construction Impact Grants - $74,500
Purpose for funds: These funds are meant as small grants to local businesses that have been
impacted by City Construction. Road construction can limit access, interrupt operations, and
reduce customer traffic. These grants are meant to help mitigate those issues by providing
resources to help with marketing, communication, signage, etc.
Reason funds not expensed in 2024: The funds were not fully expended in 2024 based on
unanticipated major project timing shifts. The request for reappropriation is due to the
confluence of two major capital project schedule changes: College and Trilby construction
has been delayed, as well as Harmony Underpass schedule prioritization (happening sooner).
Police Services
3) K9 Donation - $8,505
Purpose for funds: $10,000 was given by a citizen for the purpose of supporting the K9 unit
for any purpose. This has not yet been purchased and should be reappropriated according to
the intent of the gift.
Reason funds not expensed in 2024: The reason that the funds weren't spent was because at
the time all of the needs of K9 had been met with a portion of the gift and its existing budget.
The team has plans for this money in 2025 and the remaining balance will be spent.
4) Leadership Summit Donation - $90,797
Purpose for funds: This reappropriation is for the remaining amount of the funds that were
donated for the Police Leadership Summit that was held last year. It will be held again in
2025 and paid for by the remaining donated funds.
Reason funds not expensed in 2024: The funds were originally donated by Angel Armor for
rifle plates and then permission was given to repurpose the funds to pay for the Leadership
Summit. In the interim other doners such as the Daniel's Fund donated more money which
exceed the needed amount. Police will keep using the funds for their intended purpose to
fund this event.
Social Sustainability
5) 24/7 Homeless Shelter Contribution - $1,000,000
Purpose for funds: The City of Fort Collins recognizes the need for the construction of a new
24/7 shelter and seeks to provide $1 million in local funds to Fort Collins Rescue Mission for
construction of the shelter, which will serve men experiencing homelessness in the
community. The new shelter will eliminate the need for winter overflow shelters and serve as
a hub for community partners to collaboratively serve clients, including access to health
services, job training, mental health support, and other critical resources.
These funds are intended to support a portion of capital expenses related to construction of
the shelter, which will be released to Fort Collins Rescue Mission only after they receive
both full funding and building permits.
Reason funds not expensed in 2024: Funds were not expended in 2024 because the
development entitlement process was prolonged due to appeals. Fundraising is going well,
and the Rescue Mission believes they will start work on site in Spring of 2025. SSD staff is
working with the Rescue Mission on a contract for this $1M investment. Funding will not be
made available until permits are pulled for the project to start construction.
City Manager’s Office
6) Digital Accessibility - $71,760
Purpose for funds: We are working on phase two of the Digital Accessibility work. We have
a scope of work to audit digital platforms for each service area as well as digital documents,
DocuSign templates, municipal code, Laserfiche, and Get FoCo. This work is needed to meet
basic state compliance requirements.
Reason funds not expensed in 2024: The funds for this project were not expended in 2024
due to phase 1 of the Digital Accessibility audit taking longer than expected. This
reappropriation will enable completion of this work in 2025.
City Attorney’s Office
7) CAO Charter Review - $12,500
Purpose for funds: Work was initiated in July 2024 on the City Council priority to update
and modernize the City Charter. Outside special counsel was hired to assist with this work
and $25,000 was appropriated to support it. After work sessions in December 2024 and
January 2025, work is underway to prepare ordinances that would put Charter amendments
on the November ballot, to be presented to Council on April 1. Reappropriating these funds
would make them available to support the completion of the work they were intended to
fund.
Reason funds not expensed in 2024: The amount appropriated in summer 2024 provided the
total amount of funds needed for the Charter Update work. However, the timing of the
project work has been split between 2024 and 2025. As a result, roughly half of the funds
were expended in 2024, and the remaining funds are needed to complete the work as
scheduled.
8) Red Light Camera Radar (RLCR) Traffic Initiative - $146,179
Purpose for funds: The City Attorney's Office prosecution team continues to move forward
with implementation of the new Automated Vehicle Identification System traffic
enforcement program (red light/camera radar). Preparing for and bringing on new staffing,
training and development of procedural updates have been underway and cases from fixed
cameras and in-person enforcement have continued to increase and are likely to continue to
increase. These funds would be used to provide needed support for the prosecution team
working on these issues in 2025, particularly as additional freestanding units, which have not
yet been deployed, come online. Funds for already filled ongoing positions were funded in
the 2025 budget for only April through December and these funds will help cover the
resulting shortfall.
Reason funds not expensed in 2024: The rollout of the updated red light/camera program
was delayed until late in 2024, as was staffing and onboarding of the prosecution team
support. Some aspects of the program, including the new freestanding units, have not yet
been implemented. These delays slowed the influx of cases, and the program will continue to
grow significantly well into 2025. (The delays will also likely push into 2026, temporary
expenses that were originally expected in 2024-25.)
Municipal Court
9) Case Management System (Tyler Tech) - $227,912
Purpose for funds: 2024 BFO Offer 68.8 funded a new court case management system for
the Municipal Court. This offer was strongly supported by the City Attorney's office and the
City's Information Technology department. The use of technology within the judicial world
is critical to the functionality and efficiency of a court. After an extensive RFP process, a
vendor was awarded this contract in Q2 of 2024. In July of 2024, this technology
implementation project started. These funds will be used to support the project by funding a
temporary employee serving as a co- project manager supporting the Court Administrator
and to fund the contractual obligations associated with this project.
Reason funds not expensed in 2024: This project is an extensive year-long implementation
project which merges several different systems into one updated case management system.
Funding is disbursed throughout the implementation as contractual obligations and project
milestones are completed by the vendor. The project started in July and is on schedule.
Because of the complexity of the project, only a couple of project payment points/invoices
were reached in 2024. The remaining payment/invoicing deadlines should be completed in
2025.
Operation Services
10) Edora Pool and Ice Center Hot Water System - $85,000
Purpose for funds: These funds identified in Offer 15.14 Aging Facilities Maintenance were
targeted to replace the hot water piping to the locker rooms at the Edora Pool and Ice Center
(EPIC). During higher hot water demands in the locker rooms, the system fails to deliver hot
water leaving patrons experiencing cold showers. This reappropriation request would use the
funds to redesign the hot water system to resolve this ongoing issue for EPIC customers.
Reason funds not expensed in 2024: In December of 2023, temperature issues with the
domestic hot water system at Edora Pool and Ice Center were apparent. Numerous
complaints were received from patrons regarding the low water temperature in the showers.
Several attempts to resolve this problem with the current system were unsuccessful.
In early 2024, the City partnered with a mechanical consulting engineer to redesign the
piping for this part of the hot water system. This involved mapping the existing system, as
well as providing construction documents and an estimate for the needed repairs. Due to the
length of time for this redesign process and availability of vendors to perform the work, this
project was unable to start in 2024 as originally scheduled.
11) Replace Northside Atzlan Methane Detection System - $45,000
Purpose for funds: These funds identified in Offer 15.14 Aging Facilities Maintenance will
replace an end of life methane detection system at the Northside Atzlan Community Center.
This system is required by the State of Colorado to monitor the methane mitigation system
that is integral to that facility.
Reason funds not expensed in 2024: This system is original to the 2007 construction of the
building making the replacement of components a challenge. In July of 2024 the City
partnered with a contractor for repairs to the Northside Aztlan Methane detection system.
After several attempts to resolve this problem using the existing system were unsuccessful, it
was determined a full replacement would be in the city's best interest. In December 2024,
the city requested a proposal for the design and installation of a new system. Due to the
length of time for this process, permitting, and availability of vendors, this project should be
completed by mid-2025.
Parks
12) Pickleball Donation - $11,513
Purpose for funds: Funding for a feasibility study for a future City-owned pickleball
complex was appropriated in 2024 for Park Planning and Development staff to conduct an
initial public engagement process and feasibility study. To date, staff have conducted 2
stakeholder meetings, one open house, and developed conceptual designs for two potential
locations on community park properties.
The Fort Collins Pickleball Club awarded $40,000 to the Park Planning & Development
division (PPD) for this designated purpose. Past philanthropic partnerships by City Give have
included The Hand That Feeds, Veterans Plaza of NoCo, a refresh of Eastside Park, and the
9-11 Memorial at Spring Park.
Reason funds not expensed in 2024: Not all funds were expensed in 2024 as the results of a
noise impact study by an acoustic engineering firm were not available until Q1 2025.
Continued outreach and communication with the donor group (Fort Collins Pickleball Club)
will be completed to finalize the City's commitments per the gift agreement.
2050 TAX FUND – CLIMATE OCF
Natural Areas
13) Poudre River Health Assessment - $53,424
Purpose for funds: This offer funds the Poudre River Health Assessment project, a sampling
project that evaluates the health of the Cache la Poudre River from Gateway Natural Area to
I-25 using a suite of biological, chemical, and physical indicators. The project builds on a
previous effort completed by the City in 2017 and is a critical baseline for informing
potential large-scale water projects. The funding for this offer covers that cost of sampling,
analysis, and public outreach. The majority of the funds ($246,473) are allocated in an
existing PO with ICON Engineering for the sampling effort, with a portion of those already
used as matching funds for our partners at the Coalition for the Poudre River Watershed
(CPRW). CPRW is sampling the Upper and Lower zones of the watershed, while the City is
focusing on the Middle Zone. As of the end of 2024, spending toward sampling and analysis
have been addressed. The reappropriated funds will support development of final products
and public outreach.
Reason funds not expensed in 2024: The project funds that were not fully expended in 2024
are for the last phase of the project: public and partner engagement. The team must first
receive the results from the sampling effort to begin the engagement phase. The timeline of
contracting process and the need to collect data across a full year in order to see a complete
picture of river health caused this project to spill into 2025. Sampling is underway and
engagement is scheduled for summer and fall 2025.
2050 TAX FUND - PARKS & REC
Recreation
14) Recreation 2050 Tax CIP Study - $250,000
Purpose for funds: Ordinance 58 was approved appropriating $250,000 to fund a Capital
Improvement Plan (CIP) study for the Recreation department out of the 2050 Tax Fund -
Parks & Rec. This study will inform the department’s efforts to strategically leverage asset
management investments, including from the Recreation Fund and the 2050 tax proceeds,
and is similar to efforts which the Parks department has completed for their Infrastructure
Replacement Program.
Reason funds not expensed in 2024: Award of the contract was delayed due to new internal
City processes. Staff has worked through these processes and is underway with the RFP and
expects funds will be fully spent in 2025.
2050 TAX FUND - TRANSIT
Transfort
15) Transfort Optimization Study - $14,000
Purpose for funds: Transfort Optimization Study came in slightly under budget at $36k out
of $50k original cost. Transfort will use remaining balance of unspent funds for costs outside
of contract with the vendor such as incentives for focus groups and public meetings,
additional translation costs, childcare incentives, etc.
Reason funds not expensed in 2024: The cost of the optimization study came in under
budget and was only $36,000 of the original $50,000 anticipated cost. These expenses
described above are directly associated with the study, helping to inform strategic business
decisions.
NEIGHBORHOOD PARKLAND FUND
Parks
16) Veteran's Plaza Sign Donation - $18,583
Purpose for funds: Funding was appropriated in 2024 for Park Planning and Development
staff to design, construct and install an entry sign for the Veterans Plaza of Northern
Colorado at Spring Canyon Community Park. To date, staff have completed design and
design-build documents and material acquisition for the installation of the sign.
Gifts of $25,000 and $50 were received by the nonprofit group supporting the Veterans Plaza
and an individual donor for this designated purpose.
Reason funds not expensed in 2024: Due to inclement weather conditions in Q4 of 2024 and
contractor availability, construction has extended into 2025. Work is anticipated to be
completed in Q1 2025.
CONSERVATION TRUST FUND
Parks
17) Bike Park Feasibility - $59,663
Purpose for funds: Funding was intended for Park Planning and Development staff to
conduct a community-scale bike park feasibility study as directed by Council at the June 11
Work Session. This feasibility study includes an evaluation of potential locations,
identification of features and park amenities, and a community engagement process.
This project is in response to significant community feedback and input from the 2021 Parks
and Recreation Plan: Recreate
Reason funds not expensed in 2024: The project for which the dollars were originally
appropriated by Council could not be completed during 2024 due to the project schedule
overlapping years 2024/2025. Reappropriation of those dollars is necessary for completion of
the project in 2025.
CULTURAL SERVICES & FACILITIES FUND
Cultural Services
18) Center for Creativity Furniture Donation - $91,729
Purpose for funds: The requested funds to be reappropriated make up a sizeable and
generous community donation from a local resident in 2024 intended to be utilized for venue
vitalization, improvements, equipment purchases, and furniture expenses. Due to the
expansive nature of the Center for Creativity renovation, and significant construction costs,
donated funds such as this are important to our continuing work towards making the Historic
Carnegie Library a vibrant destination for arts and culture in the Fort Collins community.
Funds used in 2024 purchased venue furniture items and equipment, along with basic
infrastructure improvements not originally budgeted as part of the greater renovation project.
Due to the funds not being received until 9/1/2024, staff was unable to fully spend them in
2024, as the building also was not brought fully back online until August 2024. Time was
needed following completion of the renovation to best identify the areas these funds could
best be put towards. We expect in 2025 to utilize these funds on continued facility
improvements such as improved gallery hard goods and painted surfaces, access control
upgrades, technical & performance related equipment, and other similar building
infrastructure upgrades.
Reason funds not expensed in 2024: Recognizing that these funds being requested for
reappropriation were not received until late in the year 2024ber), it was expected that their
use, as directed by the donation, would span more than just the year they were received. In an
effort to leverage this generous donation in the most responsible manner, staff knew that they
would need time once the CC was operational in August 2024 to best identify and outline
how to use funding towards their intended purpose to support the venues ongoing equipment,
furniture, and improvement needs.
19) Gardens on Spring Creek APGA Grant for Community Garden - $11,303
Purpose for funds: In 2024, The Gardens on Spring Creek received $20,000 grant from the
American Public Garden Association (APGA) to support a project where we partner with the
First Peoples Community Center to plan, design, plant and care for a garden plot at The
Gardens for indigenous community use. This garden was born out of an expressed desire by
the local indigenous community for more access to space to grow and harvest spiritual,
medicinal and food plants for their community.
This funding is instrumental to the success of this project and our commitment to building
trust and enduring relationship with the Indigenous Community. During the 2024 season the
Garden produced 370lbs of produce for the community and engaged at least 30 members of
the Native Community. The appropriation of the remaining funds will support the ongoing
work of this project for 2025.
Reason funds not expensed in 2024: Funds were deposited in 2024 and are committed to
support this project in its entirety. Due to a shortage of candidates for our gardener position
in the summer of 2024, resulting in late hiring, the funds were not expended as intended by
the end of 2024. We are determined to spend these funds in 2025 to complete the project
with this reappropriation.
RECREATION FUND
Recreation
20) Recreation Asset Management - $53,410
Purpose for funds: The Recreation fund appropriated these expenses from revenues to
support asset replacements, including the purchase of a replacement Kubota utility vehicle at
the Farm at Lee Martinez Park ($45,000) and the replacement of an ADA pool lift at the
Edora Pool and Ice Center ($8,410). Funding these assets allows us to maintain better service
levels to the community and promotes access.
Reason funds not expensed in 2024: Lead times for specialized equipment and work can be
lengthy. Staff has received quotes and is ready to award the orders with high confidence in
expending the funds in 2025.
21) Recreation Universal Pre-K (2024 State of CO Funding) - $30,469
Purpose for funds: Ordinance 140 was approved in November '24 appropriating the
unanticipated 2024 revenue from the State of Colorado ($30,469) to fund the Universal Pre-
school (UPK) '24 / '25 school year program at the Northside Aztlan Community Center in the
Recreation Fund.
Reason funds not expensed in 2024: With the timing of the '24 / '25 school year spanning the
City's fiscal years hiring was delayed until funds were fully appropriated from Ordinance
140, as well as BFO Offer 46.5.
Ordinance 140 works in conjunction with BFO Offer 46.5 which was approved in the ’25 /
’26 Budget and appropriates future State revenue as well as expands the Universal Pre-K
program by funding the hiring of 3 new FTEs (start dates in April ’25). Ordinance 140,
approved in November ’24, allowed for the accelerated hiring of 1 new FTE in support of the
’24 / ’25 school year, this position will be funded through Offer 46.5 from April ’25 forward.
The team began the process of hiring 1 new FTE in November '24, the position was filled
and the new employee began in January '25.
22) Recreation Childcare Bus Exterior Wrap & Finishes - $12,790
Purpose for funds: Ordinance 124 was approved in September 2024 appropriating funds
($169,500) for a new full-sized bus in support of the Recreation department's childcare
programs. The bus has been ordered and this reappropriation is intended to move the
remainder of the original appropriation to fund the expense of exterior wrapping once the bus
is received by the City (estimated delivery: 2nd half of 2025).
Reason funds not expensed in 2024: The lead time for the bus will result in delivery in the
2nd half of 2025, the wrap and finish cannot be awarded and applied until the bus is onsite.
The wrap will allow for the required City specific finishes.
TRANSPORTATION CEF FUND
Engineering
23) Waterfield Fourth Filing Development Reimbursement - $1,413,645
Purpose for funds: These funds are for a developer reimbursement for construction of Suniga
Road, Vine Drive, and Merganser Street improvements and for the dedication of right-of-way
for Suniga Road beyond local access standards.
Reason funds not expensed in 2024: Funds were not expended in 2024 because the City of
Fort Collins has continued to wait for the developer to submit appropriate paperwork for
reimbursement.
TRANSPORTATION SERVICES FUND
FC Moves
24) Foco Fondo Donation - $5,000
Purpose for funds: The annual FoCo Fondo donation to Safe Routes to School is earmarked
for new programming and/or new equipment to help get more kids bicycling in Fort Collins.
Reason funds not expensed in 2024: The funding was not used in 2024 due to the event
occurring after the midway point in the year and needing to wait for the funding to be
appropriated. That left no time to spend the funds on programming in the fall 2024 semester
of school and little time to research and acquire new equipment before the end of the year.
These funds will be expended in 2025.
Streets
25) Streets Building Office Remodel- $221,853
Purpose for funds: The purpose of this request is to reappropriate $221,853 for the buildout
of the Streets Department office space. This budget had been set aside in 2024 to create new
office space as the Streets team continues to grow. This expansion is essential to
accommodate operational growth driven by the addition of new crews and staff, including the
Timberline Recycling Center team, new Sweeping/Graffiti crew chief, new Asphalt Crew,
new Asphalt Manager, and new Traffic Control Technicians/Classified Flaggers.
Reason funds not expensed in 2024: Initially, the project was scheduled to begin in 2024,
with Operations Services providing an estimated cost of $268,091. However, the estimate
was significantly higher than anticipated, requiring additional time to identify cost-saving
measures and ensure financial feasibility. Additionally, the pending approval of the 2025-
2026 BFO requests for additional FTEs (Offers 21.7 and 21.8) introduced potential design
impacts that needed to be considered before finalizing the project scope.
The timeline for project initiation was impacted by delays in receiving quotes and the
additional effort required to identify a more cost-effective approach. As a result, construction
was unable to begin before the end of 2024 and the project was delayed to 2025. The Streets
Department now has final design plans in place and is prepared to proceed with the remodel,
with an anticipated completion timeline in late Q3 of 2025. This timeline remains contingent
on permitting and contractor availability.
PARKING FUND
Parking Services
26) Civic Center Parking Structure (CCPS) Maintenance Work - $1,093,142
Purpose for funds: Following a 2019 condition assessment, the Civic Center Parking
Structure (CCPS) stairwell was found to have repair needs. Due to the pandemic and
resulting financial constraints, a pause to the maintenance schedule was approved by the
contracted structural engineering firm. Maintenance repairs resumed in 2022, and a
subsequent condition assessment identified that the southeast stairwell had degraded to an
unsafe level resulting in its closure to the public in June 2022. Following the closure, a
thorough assessment of the needed repairs, design and cost estimates was performed. Initial
project funds of $1.2M were requested and appropriated in 2024. The funds requested for
reappropriation will be used to complete the necessary repairs to the stairwell.
Reason funds not expensed in 2024: Funding to repair the CCPS stairwell was approved in
September of 2024 in the amount of $1.2 million. At outset, this work was anticipated to take
1.5 years for completion and is currently on track to being competed by end of 2025.
DATA & COMMUNICATIONS FUND
Information Technology
27) ERP System Replacement - $249,385
Purpose for funds: This offer will identify the components necessary for the City to
implement a modernized ERP ecosystem, accounting for all readiness components, and will
focus on the first two phases necessary to transform our business processes into a modern
solution while minimizing customizations that exponentially increase implementation and
support costs. To succeed this must become a business-led, technology-enabled
transformation and we must plan this modernization in six key phases: 1) discovery and
planning, 2) business process transformation, 3) design and development, 4) change
management and training, 5) testing and implementation, and 6) operational support.
Maintaining our current platform amplifies the need for high-touch, manual support. Once
we implement a new solution, we will lower our costs, while increasing our ability to support
increased needs with no additional FTEs. A new ERP solution will implement industry best
practices necessary to standardize and streamline processes, reduce costly customization,
address talent resiliency while improving our risk management, and disaster recovery
practices, and ensure compliance with our pending end-of-life support. Also, implementing a
standard solution will reduce the 32+ interfaces necessary to support today.
Reason funds not expensed in 2024: The 2023-2024 funds were not fully utilized due to
shifting priorities and resourcing challenges, as efforts focused on foundational planning,
cross-departmental coordination, and learning from peer municipalities. In 2024, the City
held an InfoTech partner led ERP workshop that brought together key stakeholders to refine
the strategic vision, align business needs, and establish critical priorities for implementation.
This workshop has shaped the program launch for 2025 by identifying key requirements,
scope and priorities, identifying process gaps, and ensuring organizational readiness. The
2025 reappropriation will fund a dedicated ERP Project Manager to lead planning, RFP
development, vendor selection, and resourcing. Funds will also help support backfilling key
Finance, HR, and IT roles to allow subject matter experts to focus on ERP selection, and
implementation. This initiative will transition from planning to execution, ensuring project
readiness, structured system design, and phased implementation, ultimately modernizing the
City’s ERP system to improve efficiency, reduce costs, and ensure compliance with end-of-
life support requirements.
28) Expansion of Enterprise Service Management System (ESM) - $152,500
Purpose for funds: The original intent of this offer was to extend the "FreshService" IT
Service Management (ITSM) portal into an Enterprise Service Management (ESM) portal,
encompassing Human Resources, Operation Services, Communications & Public
Involvement, and Emergency Preparedness & Security. This centralization and
standardization of service request management would offer all City employees visibility into
the status of service requests, tracked communications, and a consistent framework across
departments. The ongoing cost for licensing will increase $68,500 annually.
Additionally, the implementation of ESM will be through a phased plan and tailored
approach, requiring professional services to assess and create a service delivery practice for
the City. The one-time cost for a 3-month assessment and to begin implementation will be
$87,500 for 3rd party professional services. This investment aligns with our goal of moving
from complexity to simplicity by standardizing service requests, improving transparency, and
enabling data-driven service enhancements. ESM will streamline cross-department
workflows, like onboarding new employees, ensuring a seamless, employee-centered service
experience.
Reason funds not expensed in 2024: The 2023-2024 funds were not fully utilized as the
ESM expansion took longer due to competing priorities across HR, Operations, IT, EPS, and
CPIO. During this period, IT focused on foundational training, process development, and
service catalog redesign to ensure a strong framework for expansion. The 2025
reappropriation is essential to fund guidance and training, enabling departments to transition
successfully. Additionally, these funds will support licensing for new users as they configure
and implement FreshService, ensuring a smooth rollout.
FINANCIAL/ECONOMIC IMPACTS
This Ordinance increases 2025 appropriations by $5,572,540. A total of $1,841,644 is requested
for reappropriation from the General Fund, $1,413,645 is requested from the Transportation CEF
Fund, $1,093,142 is requested from the Parking Fund and $1,224,109 from other funds.
Reappropriation requests represent amounts budgeted in 2024 that could not be encumbered at
year-end. The appropriations are from prior year reserves.
ATTACHMENTS
PowerPoint presentation
Headline Copy Goes Here
6 March 2025
Council Finance Committee
2025 Reappropriation Ordinance
Headline Copy Goes HereReappropriation Summary
2
What does Reappropriation do?
•Appropriates funds from prior-year reserves into the 2025 budget for the same
specific uses that were originally proposed and approved for 2024
What qualifies for Reappropriation?
•Funds that were originally appropriated (authorized by Council) in 2024 for a specific
purpose, but were not fully expensed or encumbered by the end of the fiscal year
•The executive team has reviewed the reappropriation requests and concluded that all
2025 Reappropriation items submitted are still high priorities to be completed
Headline Copy Goes HereReappropriation Amounts by Fund
3
Headline Copy Goes HereReappropriation Detail - General Fund
4
#Department Request Name Amount
GENERAL FUND TOTAL $1,841,644
GENERAL FUND
Headline Copy Goes HereReappropriation Detail – Other Funds
5
2050 TAX FUND - CLIMATE OCF
2050 TAX FUND - PARKS & REC
2050 TAX FUND - TRANSIT
#Amount
13
2050 TAX FUND CLIMATE OCF TOTAL $53,424
#Amount
14
2050 TAX FUND PARKS & REC TOTAL $250,000
#Amount
15
2050 TAX FUND -
Headline Copy Goes HereReappropriation Detail – Other Funds
6
NEIGHBORHOOD PARKLAND FUND
CONSERVATION TRUST FUND
CULTURAL SERVICES FUND
#
16
NEIGHBORHOOD PARKLAND FUND TOTAL $18,583
#
17
CONSERVATION TRUST FUND TOTAL $59,663
#
18
19
CULTURAL SERVICES FUND TOTAL $103,032
Headline Copy Goes HereReappropriation Detail – Other Funds
7
RECREATION FUND
TRANSPORTATION CEF FUND
TRANSPORTATION SERVICES FUND
#Request Name
20 Recreation Asset Management
21 Universal Pre-K
22 Childcare Bus Exterior Wrap & Finishes
RECREATION FUND TOTAL $96,669
#
23
TRANSPORTATION CEF FUND TOTAL $1,413,645
#Request Name
24 Foco Fondo Donation
25 Streets Building Office Remodel
TRANSPORTATION SERVICES FUND TOTAL $226,853
Headline Copy Goes HereReappropriation Detail – Other Funds
8
PARKING FUND
DATA & COMMUNICATIONS FUND
#Amount
27
28
DATA & COMMUNICATIONS FUND TOTAL $401,885
#Amount
26
PARKING FUND TOTAL $1,093,142
Headline Copy Goes HereHistoric Reappropriation Ordinances
9
Headline Copy Goes HereCFC Guidance Requested
10
Does the Council Finance Committee support moving
forward with the 2025 Reappropriation Ordinance on the
Consent Agenda at the March 18, 2025 Council meeting?
COUNCIL FINANCE COMMITTEE
AGENDA ITEM SUMMARY
Staff:
Matt Fater, Civil Engineering Director
Joe Wimmer, Utilities Finance Director
Date: March 6th, 2025
SUBJECT FOR DISCUSSION
Supplemental Appropriation Request for the Oak St. Stormwater Project
EXECUTIVE SUMMARY
The Oak Street Stormwater Project (OSSP) is currently under construction and progressing as
planned. Staff has identified the need for an additional $1,500,000 appropriation from the
Stormwater Utility Reserve Fund to supplement the existing appropriated budget. The additional
appropriation will fund remaining project support services as well as a minor contingency for
unanticipated costs to complete the project.
GENERAL DIRECTION SOUGHT AND SPECIFIC QUESTIONS TO BE ANSWERED
Does the Council Finance Committee support an off-cycle appropriation of $1,500,000 from the
Stormwater Fund reserves to complete the Oak Street Stormwater Project?
BACKGROUND/DISCUSSION
The Oak Street Stormwater Improvement Project is a priority stormwater project for the City
because it will contribute to resolving the urban flooding and stormwater quality issues in
downtown Fort Collins. The project will provide stormwater infrastructure including a
combination of grey and green infrastructure to reduce flooding impacts along the Oak Street
corridor and adjacent blocks. Large diameter storm pipes ranging in size from 48” to 78” will
extend from the previously constructed Oak Street Outfall, starting at Mason Street and
extending to Jackson Street near City Park. There will be approximately 8,500 linear feet (LF) of
new stormwater mains along Oak Street and cross streets that extend north to Mountain Avenue
and/or south to Olive Street. Green infrastructure includes water quality ponds, or “rain gardens”
in three locations along the Oak Street corridor to filter street runoff. Additional information on
the project and associated public outreach can be found here:
https://www.fcgov.com/utilities/oak-street-stormwater-improvements-project
The project started construction in July of 2024 with an anticipated completion of June 2026. To
date, approximately 30% of the work is completed which includes 772 LF of tunnelling and 1,417
LF of mainline storm sewer.
The total appropriated budget, to date, for this project is $42,882,815. Previous city annual budgets
appropriated $2,920,000 and there was an off-cycle appropriation in 2023 for $39,962,815. The
off-cycle appropriation was for the municipal bond proceeds issued by the Stormwater Utility
enterprise in the Fall of 2023. The total project budget includes: engineering, project and
construction management, permitting, and construction services with construction contract
accounting for the most significant portion. In addition to these elements of the project budget,
typically a contingency of 5-10% would be included in the final budget. However, this level of
contingency was not included in the 2023 appropriation due to the timing of the bidding and
bonding processes. Instead, the project started construction with a contingency of less than 1%.
The construction contract portion of the project has been progressing as planned with minimal
unanticipated expenses. However, the project expenses related to professional services, project
management, and other support services have exceeded original estimates. These are future
expenses for the project as the project moves into the second year of construction. There are also
some minor potential expenses associated with pending issues related to construction such as
concrete and asphalt replacement and utility relocations that will likely be realized before the end
of the project. In addition to these known and pending expenses, a minor contingency (1.6%) is
requested to cover unanticipated expenses for the remaining portion of the project. Figure 1
summarizes the existing appropriations and anticipated expenses as well as the requested
appropriation to complete the project.
Figure 1 – Budget Summary
Staff requests a $1,500,000 supplemental appropriation from Stormwater Fund reserves based on
the budget analysis summarized in Figure 1. This level of contingency is relatively small for a
project of this magnitude. A typical construction contingency would be 5-10%. However, staff
believes this is sufficient to complete the project based on the progress to date and a risk assessment
of the remaining work.
FINANCIAL IMPACT
The requested supplemental appropriation would be funded from Stormwater Fund reserves. This
fund has a sufficient balance with approximately $10.7M of available unencumbered reserves to
cover this appropriation.
ATTACHMENTS
1. Presentation - Oak Street Stormwater Project
$ 42,882,815 $ 41,548,387 $ 1,334,428
Future Expenses (Known) $ 2,132,077 $ (797,649)
Pending Issues (Potential) $ 119,994 $ (917,642)
$ 1,500,000 $ 582,358
Total Project Appropriation $ 44,382,815
Headline Copy Goes Here
Director, Civil Engineering
Matt Fater
Oak Street
Stormwater Project
March 6, 2025
Director, Utility Finance
Joe Wimmer
Headline Copy Goes Here
2
Question for the Council Finance Committee
Does the Council Finance Committee support an off-cycle
appropriation of $1.5M from Stormwater Fund reserves to complete
the Oak Street Stormwater Project?
Headline Copy Goes Here
3
Background
CITY PARK OAK STREET STORMWATER
IMPROVEMENTS PROJECT (PURPLE LINE)
OAK ST OUTFALL
CO
L
L
E
G
E
A
V
E
MOUNTAIN AVE
The Oak Street
Stormwater
Improvements Project
has been identified as a
top priority stormwater
project for the City
because it will
significantly contribute to
resolving the urban
flooding issues for
downtown Fort Collins
neighborhoods and
businesses.
Headline Copy Goes Here
4
Progress to Date
Current Work ZoneThis Area Not Started Yet
•Construction Contract Expenditures = $11.0M (30%)
•Tunnels Completed = 772 LF (92%)
•Main Line Pipe Installed = 1471 LF (17%)
•Blocks Fully Completed = 2 (out of 15)
Headline Copy Goes Here
5
Additional Funding Request
Future Expenses: known future
encumbrances
•Professional Services for Phase
2 (RE, CM)
•PM Time
•City Department Support from
Real Estate, Forestry, Streets,
Parking, Light & Power,
Customer Connections
Pending Issues: potential future
encumbrances
•Added soil and backfill needs
•Added concrete and asphalt
replacements
•Art in Public Places
•Utility tie-ins and Inspections
Contingency: For the unknowns
that may happen on a project
•Typical contingency assigned to
this type of project is 10-15%.
•Estimated contingency needed
for this project is low relative to
other projects because many
high-risk items have already
been built
1,500,000$ 582,358$
Total Project Appropriations 44,382,815$
Headline Copy Goes Here
6
Question for the Council Finance Committee
Does the Council Finance Committee support an off-cycle appropriation
of $1.5M (Option 1) from Stormwater Fund reserves to complete the
Oak Street Stormwater Project?
Headline Copy Goes Here
Headline Copy Goes Here
8
Financials to Date
BFO Year BFO #BFO Name Amount
2017/2018 8.19 Downtown Stormwater Improvements Program
2021 14.12 Oak Street Stormwater Improvements Project (Preliminary Design)
2022 4.4 Oak Street Stormwater Improvements Project (Final Design)
2023 Debt Issuance Debt Issuance (Construction)
Total Project Appropriations
Overall Appropriated Funds
Encumberances (as of 2/20/25)
Expenditures (as of 2/20/25)
Balance (Unencumbered Budget)
Overall Expenditures
Design
Construction -General Contractor (as of 2/20/25)
Construction - Professional Services (as of 2/20/25)
Construction - City Support
Construction Contract
Expenditures (as of 2/20/25)
% Billed 30%
% Schedule Spent 29%