HomeMy WebLinkAbout2025-104-11/18/2025-DIRECTING STAFF TO TAKE SUCH EFFORTS AND ACTIONS WHICH MAY BE REQUIRED TO ENHANCE FUNDING FROM ESTIMRESOLUTION 2025-1 04
OF THE COUNCIL OF THE CITY OF FORT COLLINS
DIRECTING STAFF TO TAKE SUCH EFFORTS AND ACTIONS WHICH MAY BE
REQUIRED TO ENHANCE FUNDING FROM ESTIMATED REVENUES FROM THE
2015 COMMUNITY CAPITAL IMPROVEMENT PROGRAM FOR AFFORDABLE
HOUSING
A.On April 7,2015,City voters approved Ballot Issue No.1 and Ordinance
No.013,2015,extending an existing twenty-five hundredths percent (0.25%)sales and
use tax for the purpose of raising revenue for the Community Capital Improvement
Program (“CCIP”)to fund a list of projects (“CCIP Projects”)and estimated costs,
including an $4.0 million for one or more public or private housing projects designated for
low income individuals and families (“Affordable Housing Project”).
B.Section 2(a)of Ordinance No.013,2015 states that Council will determine
the design,property acquisition,and construction of the CCIP Projects,and that Council
may enhance the scope or design of any of the CCIP Projects,or increase the cost
thereof,so long as Council has determined that taking such action will not substantially
impair the City’s ability to fully fund the other CCIP Projects or the limited operation and
maintenance costs identified in the 2015 CCIP Tax.
C.The CCIP Tax,collected from January 1,2016,until December31,2025,is
forecasted to collect approximately $98.5 million over the ten-year period.To date,of the
CCIP Projects approved by voters,$93.5 million of CCIP revenues have been used to
deliver these Projects or towards design or planning of the Projects,including an
additional appropriation of $9.5 million,by Council’s adoption of Ordinance No.187,2025
for another CCIP Project,the Southeast Community Center.
D.In addition to the $4.0 million already identified in the CCIP for the
Affordable Housing Project,an estimated amount of at least $5.0 million of CCIP
revenues,either in reserves or forecasted to be collected for the remaining periods of
2025,will be available for CCIP Projects,or if all CCIP Projects are completed,may be
available for other purposes.
E.Preparations and actions by the City will be necessary to identify public or
private housing projects,to negotiate and execute any agreements therewith,and to
appropriate funds in order to enhance the Affordable Housing Project by increasing
funding from CCIP tax revenues.
F.The Council determines,pursuant to Ordinance No.013,2015,that
enhancing the Affordable Housing Project will not substantially impair the City’s ability to
fully fund other CCIP Projects.By this Resolution 2025-1 04,Council directs City staff to
begin the necessary preparations and work to develop and present to Council for approval
of actions needed to proceed with the enhancement of the Affordable Housing Project.
Further,Council wishes to memorialize that the forecasted,remaining amount of revenue
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that will be available for the enhanced funding for the Affordable Housing Project,
estimated as $5.0 million,in addition to the originally identified $4.0 million,be designated
for the Project to address the important public purposes served by the Affordable Housing
Project.
In light of the foregoing recitals,which the Council hereby makes and adopts as
determinations and findings,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that the City Council hereby directs City staff to move forward with the
work necessary to prepare and ultimately present to Council for approval the actions
needed to enhance the original $4.0 million funding for the Affordable Housing Fund
Project in the voter-approved Community Capital Improvement Program (CCIP),based
forecasted,remaining CCIP sales and use tax revenues that will be available and are
estimated to be at least $5.0 million.
Passed and adopted on November 18,2025.
ATTEST:
Sr.Deputy City Clerk
Effective Date:November 18,2025
Approving Attorney:Dianne Criswell
Exhibit:None