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Home My WebLink AboutCOUNCIL - AGENDA ITEM - 05/03/2011 - SECOND READING OF ORDINANCE NO. 041, 2011, APPROPR DATE: May 3, 2011 STAFF: Steve Seefeld _ Jill Stilwell • • • Second Reading of Ordinance No. 041, 2011,Appropriating Unanticipated Revenue in the Capital Projects Fund for the Building on Basics Lincoln Center Renovation Project. EXECUTIVE SUMMARY The 32 year-old Lincoln Center's greatest challenge is its aging and outdated spaces. Renovation of the facility is now underway to add 17,000 square feet and to renovate 55,000 square feet, with a focus on improving the patron experience, performer amenities, and infusing new life into a community treasure. This Ordinance, unanimously adopted on First Reading on April 19, 2011, will appropriate additional funding for the Lincoln Center Renovation. STAFF RECOMMENDATION Staff recommends adoption of the Ordinance on Second Reading. ATTACHMENTS 1. Copy of First Reading Agenda Item Summary-April 19, 2011 (w/o attachments) ATTACHMENT 1 DATE: April 19, 2011 ITEM SUMMARY 1 STAFF: Steve Seefeld AGENDA _ Jill Stilwell T COLLINS CITY COUNCIL First Reading of Ordinance No. 041, 2011, Appropriating Unanticipated Revenue in the Capital Projects Fund for the Building on Basics Lincoln Center Renovation Project. EXECUTIVE SUMMARY 11_r___N r r, �� \b�d The Lincoln Center Renovation project is funded primarily through the Builtling on Basics capital tax approved by voters in 2005. Unanticipated grant and donationreevenue'will�be used to complete the full scope of the estimated$8 million project. Approximately$5.5 million has been-appropriated from thelBuilding on Basics tax and $1.86 million from unanticipated grant revenue and prior year reserves in the Cultural Services and General Funds. This ordinance appropriates an additional $605,000 from unanticipated grant and donation revenue. Additional funds will be raised through fund-raising with the Building on Basics dollars being leveraged to complete the full scope of the capital project. BACKGROUND / DISCUSSION The 32 year-old Lincoln Center's greatest-challenge•ii its agiog-and1outdated�paces. The facility is well-loved and well-used by the community, as evidenced b'ylbeing fully booked)'year=round. However, the infrastructure of the building was never designed to accommodate the'sheer volume-of-visitor the building hosts each year. A significant renovation of Lincoln Center is needed,to add 17,0.00 square feet and renovate 55,000 square feet, with a focus on improving the patron experience, performer amenities'6d 'infusing new life into a community treasure. In 2005,voters approved the Building on Basics capital tax renewal which dedicated$5.487 million towards renovating the Lincoln Center. Ordinance No. 063,2010, appropriated$1.4 million, and Ordinance No. 006, 2011, appropriated $460,000. The total project cost is estimated at$8 million. Additional fundraising efforts are underway to complete the full scope of the project. FINANCIAL/ ECONOMIC IMPACTS //�� //'�ti� `-11 �� // This Ordinance will appropriate addittional funding for theLincoln Centen�Renovation. The Lincoln Center Support League s�a 501 c3 �on profs/Yfu Idra s nii g arm lOf the Lincoln Center. It has collected the following grants and donations for the renovation project and are now transferring those funds to the project. Bohemian Foundation Grant: $500,000 Griffin Family Foundation: $50,000 Bob and Joyce Everitt contribution: $50,000 Donations from various individuals: $5,000 The total cost of the project is estimated at$8 million. Approximately$5.5 million has been appropriated from the BOB tax, $1.86 million from grants, donations, and prior year reserves, and this ordinance appropriates an additional $605,000. There are additional unfunded elements,above the-$8_million to complete the full scope of the project. These items will be added as additional re r se funds ad:` B ulding,on"Basics/also included $24,000 of revenue for seven years to off-set additional operati�ts for_ , the renovated-facility, April 19, 2011 -2- ITEM 10 ENVIRONMENTAL IMPACTS The Lincoln Center renovation and this additional structural work will meet LEED Gold standards. STAFF RECOMMENDATION Staff recommends adoption of the Ordinance on First Reading. ,� Opti ORDINANCE NO. 041, 2011 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND FOR THE BUILDING ON BASICS LINCOLN CENTER RENOVATION 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 including the Lincoln Center Renovation Project (the "Project"); and WHEREAS, the Lincoln Center,which has been the center of Fort Collins' cultural life for 32 years, is in need of improvements; and WHEREAS, the Project will add 17,000 square feet and renovate 55,000 square feet with a focus on improving the patron experience, performer amenities, and infusing new life into the facility; and WHEREAS, the total cost of the Project, including the structural reinforcement of the performance hall walls, is estimated to be $8 million, to be paid for with $5.5 million of BOB funding, $1.86 million previously appropriated from grants,donations, and prior year reserves,and an additional $605,000 to be appropriated with this Ordinance; and WHEREAS,additional unanticipated revenue in the amount of$605,000 has been received from the Lincoln Center Support League, which is a 501(c)(3) non-profit corporation formed by private parties to raise and donate funds to the Lincoln Center to support its activities; and WHEREAS, the Lincoln Center Support League has collected $500,000 from a Bohemian Foundation Grant, $50,000 from the Griffin Family Foundation, $50,000 in the form of a contribution from Bob and Joyce Everitt, and $5,000 in donations from various other individuals; 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 has 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 SIX HUNDRED FIVE THOUSAND DOLLARS ($605,000) for the Building on Basics - Fort Collins Lincoln Center Renovation Project. Introduced, considered favorably on first reading, and ordered published this 19th day of April, A.D. 2011, and to be presented for final passage on the 3rd day of May, A.D. 2011. G!/ or ATTEST: C. FORT t City Clerk ' c�ORaoo Passed and adopted on final rea ing on the 3rd day of May, A.D. 2011. Mayor ATTEST: City Clerk