HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 06/09/2009 - FIRST READING OF ORDINANCE NO. 071, 2009, APPROPRI ITEM NUMBER: 5
AGENDA ITEM SUMMARY DATE: June 9, 2009
FORT COLLINS CITY COUNCIL STAFF: Rick Richter, Matt
Baker, Jim O'Neill, Lindsay
Kuntz, Helen Matson
SUBJECT
First Reading of Ordinance No. 071, 2009, Appropriating Funds Transferred from the Fort Collins
Urban Renewal Authority Fund into the Capital Projects Fund for the North College Avenue and
East Willox Lane Improvement Project.
RECOMMENDATION
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT
Appropriation of the funds previously transferred from the URA to the City in the amount of
$2,812,620 will provide the funding necessary to construct the North College Avenue and East
Willox Lane Improvements Project.
EXECUTIVE SUMMARY
The Marketplace development is located on the northeast corner of North College Avenue and
Willox Lane. It is a large commercial shopping center with a King Soopers grocery store anchor
tenant. There will be significant, beneficial financial impacts to both the City and the Fort Collins
Urban Renewal Authority from this project.
On May 5,2009,City Council adopted,on Second Reading,Ordinance No.046,2009,appropriating
funds from the City's General Fund reserves for transfer to the Fort Collins Urban Renewal
Authority for the purpose of providing a loan for the project.
On April 21, 2009, the Fort Collins Urban Renewal Authority adopted URA Resolution No. 016.
That resolution authorized the negotiation and execution of a loan agreement with the City for the
project and authorized the transfer from the URA to a City Capital Projects account for the purpose
of designing and constructing the improvements.
On May 19,2009,City Council adopted,on Second Reading,Ordinance No. 049,2009,authorizing
acceptance of the transfer of funds from the URA. However,this ordinance did not appropriate those
funds. Because the URA and the City are separate legal entities, it is necessary for Council to
appropriate the transferred funds. Ordinance No.071, 2009, accomplishes this.
ORDINANCE NO. 071, 2009
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING FUNDS TRANSFERRED FROM
THE FORT COLLINS URBAN RENEWAL AUTHORITY FUND
INTO THE CAPITAL PROJECTS FUND FOR THE NORTH COLLEGE AVENUE
AND EAST WILLOX LANE IMPROVEMENT PROJECT
WHEREAS, the intersection of North College Avenue and East Willox Lane (the
"Intersection") is an area where new development is occurring and consists of the Marketplace, a
large commercial shopping center, including a King Soopers grocery store anchor tenant; and the
Union Place development, a combined residential and commercial development; and
WHEREAS, East Willox Lane was originally constructed as a collector roadway,
subsequently reclassified as a minor arterial in 1984, and is deficient in auxiliary turn lanes and
pavement structure; and
WHEREAS, the proposed improvements to East Willox Lane will include sidewalk,
landscaped parkways, repaving, and the construction of a modern roundabout at the entrance of
the Marketplace and the existing Country Club Corners commercial center to the south; and
WHEREAS, the proposed improvements to North College Avenue will include curb and
gutter, sidewalks, bike lanes and landscaped medians; and
WHEREAS, the proposed improvements to the Intersection include concrete paving,
auxiliary left and right turn lanes, and pedestrian crossings; and
WHEREAS, on May 5, 2009, the City Council adopted on Second Reading Ordinance
046, 2009 appropriating funds from the City's General Fund Reserves for transfer to the Fort
Collins Urban Renewal Authority (the "Authority") to fund a loan for the purpose of designing
and constructing these improvements; and
WHEREAS, on April 21, 2009, the Board of Commissioners of the Authority adopted
Resolution 016, 2009, authorizing the loan with the City and appropriating the loan proceeds for
these improvements; and
WHEREAS, those funds have been transferred to the City's Capital Projects Fund from
existing appropriations in the Fort Collins Urban Renewal Authority Fund by City Council's
adoption of Ordinance No. 049, 2009, on May 19, 2009; and
WHEREAS, because the URA and the City are separate legal entities, it is necessary for
the City Council to appropriate the transferred funds; and
WHEREAS, Article V, Section 9, of the City Charter permits the City Council to make
supplemental appropriations by ordinance at any time during the fiscal year, provided that the
total amount of such supplemental appropriations, in combination with all previous
appropriations for that fiscal year, do not exceed the then current estimate of actual and
anticipated revenues to be received during the fiscal year; and
WHEREAS, City staff has determined that the appropriation of the transferred funds,
totaling $2,812,620, will not cause the total amount appropriated in the Capital Projects Fund to
exceed the current estimate of actual and anticipated revenues to be received during the fiscal
year.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated from unanticipated revenue in the Capital
Projects Fund the amount of TWO MILLION EIGHT HUNDRED TWELVE THOUSAND SIX
HUNDRED TWENTY DOLLARS ($2,812,620) for expenditure from the Capital Projects Fund,
North College Avenue and East Willox Lane Improvements Project for improvements to East
Willox Lane and North College Avenue.
Introduced, considered favorably on first reading, and ordered published this 9th day of
June, A.D. 2009, and to be presented for final passage on the 7th day of July, A.D. 2009.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 7th day of July, A.D. 2009.
Mayor
ATTEST:
City Clerk