HomeMy WebLinkAbout051 - 04/18/2017 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND TO SUPPORT THE IDEA 2 PRODUCT 3D PRINTING COMM (2)ORDINANCE NO. 051, 2017
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES
IN THE GENERAL FUND TO SUPPORT THE IDEA 2 PRODUCT 3D PRINTING
COMMUNITY CENTER
WHEREAS, the purpose of this item is to appropriate $150,000 from the General Fund
Reserves to support the relocation of the Idea 2 Product ("12P") laboratory and the construction
of a 3D Printing Community Center within the Fort Collins community; and
WHEREAS, this funding will be used to accelerate innovation, commercialization and
entrepreneurship in Fort Collins by expanding City support of the I2P Lab currently housed on
the Colorado State University campus; and
WHEREAS, the provision of these funds is contingent upon the ability of 12P, the
operator of the 3D Printing Community Center, to raise a total (including the City's pledge) of
3.0 million from private sources, other communities, and grants, including an anticipated grant
of $1.5 million from the Office of Economic Development and International Trade to be
submitted in the second quarter of 2017; and
WHEREAS, the funds will only be made available to 12P upon successfully raising $3.0
million and are pledged with the intent to support the 3D Printing Community Center and not
any other activities of 12P; and
WHEREAS, the pledge will terminate at the end of 2017 unless 12P has successfully
raised funds, however, this funding may be reappropriated at City Council's discretion in future
years; 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
WHEREAS, City staff have determined that the appropriations as described herein are
available and previously unappropriated in the General Fund; and
WHEREAS, the City Council hereby finds that providing these funds to 12P will serve
the public purposes of expanding workforce development in the community, assisting in business
incubation within the City, and enhancing the Downtown's economic viability by helping to
make this advanced technology more readily and easily available to local and regional
companies and entrepreneurs.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
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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 General Fund the total sum of ONE HUNDRED FIFTY THOUSAND DOLLARS
150,000) for the I2P laboratory and 3D Printing Community Center.
Introduced, considered favorably on first reading, and ordered published this 21st day of
March, A.D. 2017, and to be presented for final passage on the 18th day of April, A.D. 2017.
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ram yor
ATTEST:
P/ O ORADt
City Clerk
Passed and adopted on final reading on the 18th day of April, A.D. 2017.
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SEAL:N ayor
ATTEST:
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City Clerk
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