HomeMy WebLinkAbout054 - 05/03/2016 - APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING FUND TO BE TRANSFERRED II1TO THE CAPITALORDINANCE NO. 054, 2016
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE STREET OVERSIZING
FUND TO BE TRANSFERRED INTO THE CAPITAL PROJECTS FUND AND
APPROPRIATED THEREIN FOR THE CONSTRUCTION OF THE
SHARP POINT/NANCY GRAY CONNECTION PROJECT
WHEREAS, the Street Oversizing Program collects fees from new developments and
allocates these amounts for construction of the oversized portion of collector and arterial streets
in newly developing areas; and
WHEREAS, all projects impacting traffic pay a transportation impact fee called the
Street Oversizing Fee when they receive a City of Fort Collins building permit; and
WHEREAS, Street Oversizing Fees are one-time impact fees used for capital expansion
of the transportation network; and
WHEREAS, depending upon the circumstances, the City may choose to build the
required oversized collector and arterial streets or choose to have developers build such streets
with the City reimbursing for certain construction costs; and
WHEREAS, the currently adopted Master Street Plan identifies Sharp Point Drive
connecting Midpoint Drive with Nancy Gray Avenue (the "Sharp Point/Nancy Gray Connection
Project'), and due to recent development to the south as well as support from the Larimer
County Sheriff s Office, staff has identified this connection as an immediate need; and
WHEREAS, in addition to the funding provided under this ordinance, staff intends to
submit a budget offer in the 2017-2018 City budget cycle for the remaining unfunded portion of
the Sharp Point/Nancy Gray Connection Project ($150,000) and for the transfer of an amount
equal to one percent (1%) of the total $1.25M appropriation for the Project ($12,500) for
contribution to the Art in Public Places Program in accordance with the City Code; and
WHEREAS, Article V, Section 10, of the City Charter authorizes the City Council to
transfer by ordinance any unexpended and unencumbered appropriated amount of portion thereof
from one fund to another fund, provided that the purpose for which the transferred funds are to
be expended remains unchanged as is the case with this transfer.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That the unexpended and unencumbered appropriated amount of NINE
HUNDRED EIGHTY FOUR THOUSAND DOLLARS ($984,000) is hereby authorized for
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transfer from the Street Oversizing Fund to the Capital Projects Fund and appropriated therein
for the Sharp Point/Nancy Gray Connection Project.
Section 3. That the unexpended and unencumbered appropriated amount of ONE
HUNDRED SIXTEEN THOUSAND DOLLARS ($116,000) is hereby authorized for transfer
from the Street Oversizing Fund Contributions and Aid to the Capital Projects Fund and
appropriated therein for the Sharp Point/Nancy Gray Connection Project.
Introduced, considered favorably on first reading, and ordered published this 19th day of
April, A.D. 2016, and to be presented for final passage on the 3rd day of May, A.D. 2016.
OF ORTFCO`
A, ly
SEA ayor
ATTEST:
cOLOR`O
i
City Clerk
Passed and adopted on final reading on the 3rd day of May, A.D. 2016.
O FORT COL
ATTEST:
SEAL ayor
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City Clerk
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