The URL can be used to link to this page

Home My WebLink AboutCOUNCIL - AGENDA ITEM - 12/07/2010 - SECOND READING OF ORDINANCE NO. 117, 2010, APPROPR DATE: December 7, 2010 STAFF: Ron Kechter, Ken Mannon, AGENDA ITEM SUMMARY • Annette Gieselman, Cheryl FORT COLLINS CITY COUNCIL • Donaldson Second Reading of Ordinance No. 117, 2010, Appropriating Unanticipated Revenue in the Capital Projects Fund for the Fort Collins Museum/Discovery Science Center Joint Facility Project. EXECUTIVE SUMMARY The Discovery Center, a Colorado non-profit corporation, has made a commitment of$4,561,916, in support of the new Fort Collins Museum and Discovery Science Center Joint Facility project. This Ordinance, unanimously adopted on First Reading on November 16, 2010, appropriates this commitment for the project. STAFF RECOMMENDATION Staff recommends adoption of the Ordinance on Second Reading. ATTACHMENTS 1. Copy of First Reading Agenda Item Summary- November 16, 2010 (w/o attachments) ATTACHMENT 1 DATE: November 16, 2010 STAFF: Ron Kechter, Ken Mannon, ' ' ' - Annette Gieselman, Cheryl - Donaldson First Reading of Ordinance No. 117, 2010, Appropriating Unanticipated Revenue in the Capital Projects Fund for the Fort Collins Museum/Discovery Science Center Joint Facility Project. EXECUTIVE SUMMARY 1-F `J , r � U v The Discovery Center, a Colorado non-profit-corporation),'his mad)a c\/tment of$4,561,916, in support of the new Fort Collins Museum and Discovery-Science Center Joint Facility project. This Ordinance will appropriate this commitment for the project. BACKGROUND / DISCUSSION The Fort Collins Museum and the Discovery Science Center formed a partnership that was consummated in an agreement dated March 11, 2008. In this agreement, the Discovery Center, a Colorado non-profit corporation, d/b/a Discovery Science Center(the"NPC")committed to providing$2,500,000 towards the design and construction of the Fort Collins Museum and Discovery Science Center-Joint Facility-An extensive fundraising effort by the NPCenabled its Board of Directors, in a meeting on October 28!2010�, to agree to provide�$�4,561,916 in support of the design and construction of the new facility. These efforts h hay. . e enabledlthe-Partnership to increase the size of the building to 47,522 gross square feet. \\\ �J J ILJ� ILJI The following monies have previously been appropriated: • $6,183,750 from the Building on Basics (BOB)tax measure • $3,000,000 commitment from the DDA • $88,966 private donation • $275,000 grants from DOLA and Colorado Department of Public& Environment(CDPHE) • $150,000 from City Natural Areas The total of all these monies ($14,259,632) will be used to fund the design and construction of the new facility. FINANCIAL / ECONOMIC IMPAC� nMED W . The commitment for$4,561,916 was f received from-the PC-for the desigl land construction of the new Fort Collins Museum and Discovery Science Center Joint Facility. The NPC funds are secure in FDIC insured accounts at a local bank. This Ordinance will appropriate the$4,561,916 in the Building on Basics(BOB) New Museum Facility Project, so that the NPC funds can be added to the BOB Project in response to invoices from the City, when required to support the project cash flow. STAFF RECOMMENDATION Staff recommends adoption of the Ordinance Udp ORDINANCE NO. 117, 2010 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND FOR THE FORT COLLINS MUSEUM/DISCOVERY SCIENCE CENTER JOINT FACILITY PROJECT WHEREAS, on November 1, 2005, Fort Collins voters passed Ordinance No. 092, 2005, approving the "Building on Basics" ("BOB") tax for certain capital projects; and WHEREAS, included in the BOB capital projects is $6,000,000 for construction of a new combined-use facility in the Fort Collins downtown area for the Fort Collins Museum and the Discovery Science Center; and WHEREAS, this facility will be jointly owned, managed, and funded by the City and Discovery Science Center and will expand the educational experience of city residents by providing a broader array of scientific,cultural and historical exhibits in a single location,and will also provide an exciting new City amenity; and WHEREAS, the Fort Collins Museum and Discovery Science Center formed a partnership that resulted in an agreement dated March 11, 2008, and WHEREAS, in this agreement, the Discovery Center, a Colorado Non-profit Corporation, d/b/a Discovery Science Center(the "NPC") is required to provide $2,500,000 towards the design and construction of the Fort Collins Museum and Discovery Science Center Joint Facility; and WHEREAS, in the Board of Directors meeting on October 28, 2010, the NPC agreed to provide$4,561,916 for the design and construction of the new Fort Collins Museum and Discovery Science Center Joint Facility; 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, does not exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, City staff have determined that the appropriation of the revenue as described herein 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 in that fund during any fiscal year. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in the Capital Projects Fund the sum of FOUR MILLION FIVE HUNDRED SIXTY-ONE THOUSAND NINE.HUNDRED SIXTEEN DOLLARS ($4,561,916)to be used for the Building on Basics-Fort Collins Museum/Discovery Science Center Joint Facility Project. Introduced, considered favorably on first reading, and ordered published this 16th day of November,A.D.2010,and to be presented for final passage on the 7th day of December,A.D.2010. Mayor ATTEST: /.4,/:: ems Chief Deputy City Clerk Passed and adopted on final reading on the 7th day of December, A.D. 2010. Mayor ATTEST: City Clerk