HomeMy WebLinkAbout022 - 03/04/2025 - MAKING A SUPPLEMENTAL APPROPRIATION OF A DEVELOPMENT CONTRIBUTION TO CONSTRUCTION AND AUTHORIZING TRl
ORDINANCE NO. 022, 2025
OF THE COUNCIL OF THE CITY OF FORT COLLINS
MAKING A SUPPLEMENTAL APPROPRIATION OF A
DEVELOPMENT CONTRIBUTION TO CONSTRUCTION AND
AUTHORIZING TRANSFERS OF APPROPRIATIONS FOR THE
WILLOW STREET IMPROVEMENTS -LINDEN STREET TO
LINCOLN AVENUE PROJECT AND RELATED ART IN PUBLIC
PLACES
A.The purpose of this item is to appropriate a development contribution to
construction from the developer of the Bas Bleu Development, which was contributed
under City Code Section 24-95 as a payment-in-lieu of constructing the local portion of
frontage improvements adjacent to the development on Willow Street and Pine Street.
B.In 2004, Bas Bleu Development, LLC entered into a development
agreement, which described the requirements and conditions for the redevelopment of
the Bas Bleu Theatre Company property at 401 Pine Street, with frontage on Willow and
Pine streets. The development agreement contemplated construction improvements on
Willow and Pine streets and obligated the development to contribute to the City to for the
design and construction of these improvements. The obligation was collected as non
expiring escrow rather than a payment.
C.As a result of a Downtown River District improvement project, the City and
the Downtown Development Authority constructed a portion (from Linden Street to the
BNSF Railroad) of the improvements contemplated for Willow Street in the development
agreement with Bas Bleu Development.
D.The City and First Western Trust, the financial institution holding the Bas
Bleu Development escrow, calculated the payment due for the Willow Street
improvements to be $29,545.
E.Bas Bleu's remaining obligation for the design and construction of the Pine
Street improvements has never been constructed as there has never been a second
phase of the Bas Bleu redevelopment.
F.The City and the Downtown Development Authority are planning for and
designing the next phase of improvements along Willow Street, the Willow Street
Improvements -Linden Street to Lincoln Avenue capital project (the "Project''). Because
the western section of Willow Street improvements is complete, the Bas Bleu
development contribution to construction is being herein appropriated to this next phase
of the Project.
G.Article V, Section 9 of the City Charter permits the City Council, upon the
recommendation of the City Manager, to make a supplemental appropriation by ordinance
at any time during the fiscal year, provided that the total amount of such supplemental
appropriation, in combination with all previous appropriations for that fiscal year, does not
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