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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 08/16/2011 - FIRST READING OF ORDINANCE NO. 101, 2011, APPROPRIDATE: August 16, 2011 STAFF: Cheryl Donaldson, Ken Mannon, Ron Kechter AGENDA ITEM SUMMARY FORT COLLINS CITY COUNCIL 14 SUBJECT First Reading of Ordinance No. 101, 2011, Appropriating Prior Year Reserves in the Cultural Services Fund for Transfer to the Capital Projects Fund and Appropriating Unanticipated Revenue in the Capital Projects Fund for the Fort Collins Museum/Discovery Science Center Project. EXECUTIVE SUMMARY The Discovery Center, a Colorado non-profit corporation, has provided funds, currently held in the Capital Projects Fund, in the amount of $738,034 in support of the Exhibits for the new Fort Collins Museum and Discovery Science Center Joint Facility project. Also, $100,000 from the Fort Collins Museum Donation Reserves are being provided to support the Exhibits. Additionally, an estate gift in the amount of $150 has been provided. 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 $1,100,000 towards the Exhibits for the Fort Collins Museum and Discovery Science Center Joint Facility. An extensive fundraising effort by the NPC has enabled it to raise $3,617,000 in the form of cash and pledges. The amounts to be appropriated at this time are allocated according to the following distribution: Exhibit Design $481,875 Digital Dome Infrastructure $185,000 PV Array Roof Support $ 41,159 Exhibit Lighting Controls $ 30,000 Total $738,034 The total of all these monies ($738,034) will be used to fund the design of the exhibits, the infrastructure for the digital dome and roof support for the photvoltiac (PV) array for the new facility. Also, funds in the amount of $100,000 are being allocated from the Fort Collins Museum Donation Reserves. These funds have been held in reserve with the intent to fund exhibits in the new facility. Additionally, funds in the amount of $150 were received as an estate gift for construction of the new facility. FINANCIAL / ECONOMIC IMPACTS The funds in the amount of $738,034 were received from the NPC for the exhibits, digital dome and PV array for the new Fort Collins Museum and Discovery Science Center Joint Facility. Also, funds in the amount of $100,000 are being allocated from the Fort Collins Museum Donation Reserves. Additionally a $150 gift from an estate was provided. This Ordinance will appropriate the $838,184 in the Building on Basics (BOB) New Museum Facility Project. STAFF RECOMMENDATION Staff recommends adoption of the Ordinance on First Reading. ORDINANCE NO. 101, 2011 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES IN THE CULTURAL SERVICES FUND FOR TRANSFER TO THE CAPITAL PROJECTS FUND AND APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND FOR THE FORT COLLINS MUSEUM/DISCOVERY SCIENCE CENTER 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, $6,000,000 was included in the BOB capital project program for construction of a new combined-use facility for the Fort Collins Museum/Discovery Science Center (“the Project”); and WHEREAS, in March 2008, the City and the Discovery Center, a Colorado non-profit corporation, d/b/a Discovery Science Center (the “NPC”), now officially known as FCDM, Inc., entered into an operating agreement for the construction and operation of the Project; and WHEREAS, the Project will be jointly owned, managed, and funded by the City and the NPC 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 NPC has raised $3,617,000 in cash and pledges for museum exhibits and the amount presently available for appropriation is $738,034, which funds are currently being held in the Capital Projects Fund; and WHEREAS, funds in the amount of $100,000 are also available from the Fort Collins Museum operations reserve in the Cultural Services Fund for the Project museum exhibits; and WHEREAS, funds in the amount of $150 have been received as a gift from an estate for construction of the Project; and WHEREAS, accordingly, this Ordinance appropriates a total amount of $838,184 for the Project; and WHEREAS, Article V, Section 9, of the City Charter 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. WHEREAS, Article V, Section 9, of the City Charter authorizes 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; and WHEREAS, Article V, Section 10, of the City Charter authorizes the City Council to transfer by ordinance any unexpended and unencumbered appropriated amount or portion thereof from one fund to another fund, provided that the purpose for which the transferred funds are to be expended remains unchanged. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That there is hereby appropriated for expenditure from prior year reserves in the Cultural Services Fund the amount of ONE HUNDRED THOUSAND DOLLARS ($100,000) to be transferred to the Capital Projects Fund and appropriated therein for the Building on Basics - Fort Collins Museum/Discovery Science Center Joint Facility Project. Section 2. That there is hereby appropriated from unanticipated revenue in the Capital Projects Fund the sum of SEVEN HUNDRED THIRTY-EIGHT THOUSAND ONE HUNDRED EIGHTY-FOUR DOLLARS ($738,184) for expenditure on 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 August, A.D. 2011, and to be presented for final passage on the 6th day of September, A.D. 2011. _________________________________ Mayor ATTEST: _____________________________ City Clerk Passed and adopted on final reading on the 6th day of September, A.D. 2011. _________________________________ Mayor ATTEST: _____________________________ City Clerk