HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 05/21/2002 - FIRST READING OF ORDINANCE NO. 078, 2002, APPROPRI AGENDA ITEM SUMMARY ITEM NUMBER: 17
DATE: May 21, 2002
FORT COLLINS CITY COUNCIL Dave Agee
STAFF: Bob Smith
SUBJECT:
First Reading of Ordinance No. 078, 2002, Appropriating Prior Year Reserves in the Storm
Drainage Fund to Acquire Property in the Poudre River Floodplain at 740 North College
Avenue.
RECOMMENDATION:
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+i Staff recommends adoption of the Ordinance on First Reading.
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FINANCIAL IMPACT:
i The funds appropriated with this Ordinance will be taken from unencumbered, unappropriated
J reserves of the Storm Drainage Fund which have been determined to be adequate to cover this
appropriation.
EXECUTIVE SUMMARY:
In 2000 City Council adopted a resolution that "directed the City Manager to pursue the
acquisition of any real property in the Poudre River floodplain on a `willing seller, willing
j buyer' basis subject to appropriation, with priority given to those structures in the floodway and
product corridor."
In response to the owner of property located at 740 North College Avenue, the City's Real Estate
Services Department has successfully negotiated an acceptable price with the property owner for
the acquisition of the residential property. The property is located in the highest hazard area or
floodway and product corridor of the Poudre River floodplain.
The appropriation of the funds would allow for the acquisition of the property. Upon acquisition
the City would remove the structure and convert the property to open space.
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• ORDINANCE NO. 078, 2002
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE STORM DRAINAGE FUND
TO ACQUIRE PROPERTY IN THE POUDRE RIVER FLOODPLAIN
AT 740 NORTH COLLEGE AVENUE
WHEREAS,in June 2000,Council adopted Resolution 2000-81,directing the City Manager
to pursue the acquisition of any real property in the Poudre River floodplain on a "willing seller,
willing buyer"basis,subject to appropriation,with priority given to those structures in the floodway
and product corridor; and
WHEREAS, the City's Real Estate Services Department has successfully negotiated an
acceptable price with the property owner of 740 North College Avenue for the acquisition of the
residential property at that location; and
WHEREAS, the property at 740 North College is located in the highest hazard area or
floodway and product corridor of the Poudre River floodplain; and
WHEREAS,upon acquisition,the City would remove the structure and convert the property
to open space; and
WHEREAS, $155,000 in appropriations from prior year reserves will allow for the
acquisition of the property; and
WHEREAS,there are adequate prior year reserves in the Storm Drainage Fund to cover the
total appropriations of$155,000; and
WHEREAS,Article V,Section 9,of the Charter of the City of Fort Collins permits the City
Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as
may be available from reserves accumulated in prior years,notwithstanding that such reserves were
not previously appropriated; and
WHEREAS, City staff has determined that the appropriation from prior year reserves to
acquire property in the Poudre River floodplain,as described herein,will not cause the total amount
appropriated in the relevant funds to exceed the current estimate of actual and anticipated revenues
to be received during the fiscal year; and
WHEREAS,it is the desire of the Council to appropriate the sum of$155,000 from prior year
reserves in the Storm Drainage Fund to acquire property in the Poudre River floodplain at 740 North
College Avenue.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the sum of ONE HUNDRED FIFTY-FIVE THOUSAND DOLLARS ($155,000)is
• hereby appropriated from prior year reserves to acquire property in the Poudre River floodplain at
740 North College Avenue.
Introduced,considered favorably on first reading and ordered published this 21 st day of May,
A.D. 2002 and to be presented for final passage on the 4th day of June, A.D. 2002.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 4th day of June, A.D. 2002.
Mayor
ATTEST:
City Clerk
Property Location Map
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