HomeMy WebLinkAbout039 - 04/18/2017 - APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSPORTATION FUND FOR REGIONAL CONTRIBUTION TO LARIMER CO (2)ORDINANCE NO. 039, 2017
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE
TRANSPORTATION FUND FOR REGIONAL CONTRIBUTION
TO LARIMER COUNTY FOR NORTH I-25 IMPROVEMENTS
WHEREAS, on November 17, 2015, City Council passed Resolution 2015-100 stating its
support for a Larimer County proposal to use increased County mill levy funds as a method to
facilitate funding for Interstate 25 (I-25) improvements; and
WHEREAS, on October 4, 20167 City Council passed Resolution 2016-077 authorizing
the Mayor to enter into an Intergovernmental Agreement with Larimer County (the "IGA") and
other local agencies for the purpose of providing local funds to Larimer County to be used as a
contribution to the North I-25 Corridor Improvements Project; and
WHEREAS, the IGA was signed by the parties and dated December 27, 2016; and
WHEREAS, the $237 million North I-25 Improvements project will begin construction in
late 2017 and is scheduled to be completed by December 2020; and
WHEREAS, the project boundaries are State Highway 14 (Mulberry Road) on the north
and State Highway 402 in Loveland to the south and the project will add a third managed lane in
each direction, make key improvements to bridges, connect the regional bicycle/pedestrian trail
under I-25, and provide an additional park and ride with bus slip ramps at Kendall Parkway in
Loveland; and
WHEREAS, the purpose of this item is to appropriate Transportation Fund reserves in the.
amount of $445,947 to be remitted to Larimer County as part of an annual (five year) regional
contribution of local matching finds under the IGA for CDOT's North I-25 Improvements
Project; and
WHEREAS, this is the first of five annual payments to Larimer County under the IGA,
with a total funding commitment from the City of$2,229,735; and
WHEREAS, Fort Collins received approximately $1.05 million in 2016 from the Larimer
County Road and Bridge Fund representing an incremental increase in revenue from increased
property valuations of approximately $500,000.00 for 2016; and
WHEREAS, the increase in the City's share of the County Road and Bridge Mill Levy
revenues will be utilized to fund construction of roads and streets within its corporate boundaries
in' accordance with C.R.S. §43-2-202(4), making other funds available from the City's
Transportation Fund reserves for contribution to 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; and
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WHEREAS, City staff have determined that the appropriations as described herein are
available and previously unappropriated in the Transportation Fund; and
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 there is hereby appropriated for expenditure from prior year reserves
in the Transportation Fund the sum of FOUR HUNDRED FORTY-FIVE THOUSAND NINE
HUNDRED FORTY-SEVEN• DOLLARS ($445,947) for regional contribution to Larimer
County under the IGA for North 1-25 Improvements.
Introduced, considered favorably on first reading, and ordered published this 28th day of
March, A.D. 2017, and to be presented for final passage on the 18th day of April, A.D. 2017.
OY FORT COS<
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Mayor
ATTEST:
nA
COLO?
City Clerk
Passed and adopted on final reading on the 18th day of April, A.D. 2017.
FOCTCo
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SBA , Iyor
ATTEST:o
City Clerk
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