HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 01/21/2014 - FIRST READING OF ORDINANCE NO. 010, 2014, APPROPRIAgenda Item 6
Item # 6 Page 1
AGENDA ITEM SUMMARY January 21, 2014
City Council
STAFF
Karen McWilliams, Historic Preservation Planner
Laurie Kadrich, Community Development & Neighborhood Services Mgr
SUBJECT
First Reading of Ordinance No. 010, 2014, Appropriating Unanticipated Revenue in the General Fund for
the Exterior Preservation and Reconstruction of the Avery Building at the Intersection of College and
Mountain Avenues.
EXECUTIVE SUMMARY
The purpose of this item is to appropriate unanticipated revenues in the amount of $19,839, received in
excess of previously appropriated funds, for the Avery Building Restoration project.
STAFF RECOMMENDATION
Staff recommends adoption of the Ordinance on First Reading.
BACKGROUND / DISCUSSION
In 2011, the City received a State Historic Fund grant for the restoration and reconstruction of the Avery
Building located at the intersection of College and Mountain Avenues. The project included exterior
restoration and rehabilitation of the sandstone building.
The City agreed to sponsor the grant and manage the funds. Appropriations totaling $650,270 have been
approved ($430,270 with Ordinance No. 043, 2011 and $220,000 with Ordinance No. 036, 2012). At the time
work was completed, total project costs were $670,109. Being as only $650,270 had been initially available
and appropriated for the work, the property owner was asked to provide additional private funds, which it did
to cover the additional costs. An ordinance approving appropriation of the additional unanticipated revenues
of $19,839 is now needed.
FINANCIAL / ECONOMIC IMPACT
The City did not directly participate financially in the project; however, Community Development and
Neighborhood Services (CDNS) staff acted as grant administrator. Contributions to the total project cost of
$670,109 were made by the State Historic Fund ($215,135) and the property owner Avery Building LLC
($454,974).
The Avery Building exterior preservation and reconstruction has had positive financial effects on the local
economy. The project has generated sales tax revenue from materials and services purchased locally, and
the improved property’s higher assessed value will increase property taxes. Studies by Clarion Associates of
Colorado, LLC, show that for each $1 in grant related costs, there is an economic return of $6.
Agenda Item 6
Item # 6 Page 2
ENVIRONMENTAL IMPACTS
The restoration and rehabilitation of the Avery Building supports the City’s goal of sustainability. As with all
historic preservation projects, this project maximizes the use of existing materials and infrastructure, and
reduces wastes in landfills from demolition costs. Historic buildings are traditionally designed to be energy
efficient, with many sustainable features that respond to climate and site. When effectively restored and
reused, these features allow for substantial energy savings. Additionally, the Avery Building exterior
preservation and reconstruction project will preserve an important and interest aspect of Fort Collins history.
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ORDINANCE NO. 010, 2014
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND
FOR THE EXTERIOR PRESERVATION AND RECONSTRUCTION
OF THE AVERY BUILDING AT THE INTERSECTION OF COLLEGE AND
MOUNTAIN AVENUES
WHEREAS, the Avery Building Restoration and Reconstruction project (the “Project”)
includes the exterior restoration and rehabilitation of the original brick, stone masonry, wood,
windows, and storefronts along College Avenue; and
WHEREAS, the Project has been an ongoing, high visibility project that has provided
both direct and indirect economic benefits to the community; and
WHEREAS, the City’s Community Development and Neighborhood Services staff is
responsible for administering all grant/cash match funds on behalf of the property owner, but to
date there has been no direct financial obligation by the City; and
WHEREAS, between 2011 and 2012, the City appropriated $650,270 in combined grant
funding from the Colorado Historical Society’s State Historical Fund and private fund
contributions by the property owner, Avery Building LLC, for the Avery Building Restoration
project; and
WHEREAS, total Project costs are $670,109, which requires another $19,839 to be
appropriated in order to fully pay for the work associated with the Project; and
WHEREAS, the additional funds to cover the final project costs have been provided by
the property owner and deposited in the General Fund; 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 $19,839 in additional
Project funding will not cause the total amount appropriated in the General 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 for expenditure from unanticipated revenue in
the General Fund the sum of NINETEEN THOUSAND EIGHT HUNDRED THIRTY NINE
DOLLARS ($19,839) for the exterior preservation and reconstruction of the Avery Building.
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Introduced, considered favorably on first reading, and ordered published this 21st day of
January, A.D. 2014, and to be presented for final passage on the 4th day of February, A.D. 2014.
__________________________________
Mayor
ATTEST:
_______________________________
City Clerk
Passed and adopted on final reading on the 4th day of February, A.D. 2014.
__________________________________
Mayor
ATTEST:
_______________________________
City Clerk