HomeMy WebLinkAbout098 - 06/21/1994 - APPROPRIATING FUNDS FROM PRIOR YEAR RESERVES AND AUTHORIZING THE TRANSFER OF APPROPRIATED AMOUNTS BE ORDINANCE NO. 98, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING FUNDS FROM PRIOR YEAR RESERVES AND
AUTHORIZING THE TRANSFER OF APPROPRIATED AMOUNTS BETWEEN FUNDS
FOR THE PURPOSE OF PROVIDING FUNDING TO CONSTRUCT STREETSCAPE
IMPROVEMENTS TO LINDEN AND WALNUT STREETS WITHIN THE
DOWNTOWN GENERAL IMPROVEMENT DISTRICT #1
WHEREAS, Resolution 91=46, and the Downtown Plan emphasize the importance
of the redevelopment of the Linden Block as critical to the reintegration of the
Poudre River environs into the fabric of the downtown and as a community focal
point, and the continued revitalization of the Downtown area; and
WHEREAS, by Resolution 92-37, the City Council directed the City Manager
to prepare, after consultation with affected property owners, a comprehensive,
five-year Downtown Capital Improvements Plan (the "Plan") to include recommended
projects to be funded from future General Improvement District No. 1 (the GID)
revenues; and
WHEREAS, pursuant to Ordinance No. 120, 1993, the City Council approved an
intergovernmental agreement between the City and the Downtown Development
Authority relating to the funding of certain public improvements to the facades
of the Linden Hotel and Salvation Army building, which structures are situated
within the GID; and
WHEREAS, by Resolution 20 of the GID, the City Council , Ex-Officio the
Board of Directors of the GID adopted a five (5) year Downtown Capital
Improvements Plan known as the General Improvement District No. 1 Downtown
Capital Improvements Program, 1993-1998 (the Plan) which included a funding
prioritization of GID projects; and
WHEREAS, streetscape improvements to Linden and Walnut Streets in the
immediate vicinity of the Linden Hotel and Salvation Army buildings was approved
by Council as the highest priority among GID capital projects; and
WHEREAS, in accordance with the Plan, staff has completed preliminary
design concepts and cost es'tiiflate} 'for- tfrL- Linden strL-erscW L, improvements; and
WHEREAS, the project scope encompasses full improvements along Linden
Street from Walnut to Jefferson Street including the pedestrian crossing from Old
Town Square across Walnut Street, and includes widening the sidewalk from twelve
(12) feet to eighteen (18) feet along both sides of Linden Street; reconstructing
the roadway on Linden Street; renovating the existing sandstone pavers and
placing them into the proposed sidewalk; all landscaping, pavement improvements
and street furnishings; an allowance for street art, lighting and a street clock
(the Project) ; and
WHEREAS, the estimated cost of the- aforementioned project is- $623,24-5; and
WHEREAS, $257,467 is available within the GID Fund as a funding source for
this project, of which $35,244 is already appropriated as part of the GID 1994
budget and the remaining $222,223 has been approved on First Reading for
appropriation from GID reserves; and
WHEREAS, staff has identified additional funds totalling $300,000 from the
sources outside the GID to cover the costs in excess of available GID dollars:
WHEREAS, staff recommends the use of prior year reserves in the Sales and
Use Tax Fund for the aforementioned $300,000; and
WHEREAS, the project cost estimate includes an allowance which will allow
for adjustments to the project scope as needed to ensure the project is
constructed within the estimated budget; and
WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins,
(the "Charter") authorizes the City Council to provide by ordinance for payment
of any expense from prior year reserves at any time such reserves are available;
and
WHEREAS, it is the desire of the Council of the City of Fort Collins to
appropriate the sum of THREE HUNDRED THOUSAND DOLLARS ($300,000) from prior year
reserves in the Sales and Use Tax Fund for transfer to the General City Capital
Project Fund to be used for the Project as described above.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS,
as follows:
Section 1. That there is hereby appropriated for expenditure from the use
tax carryover reserve in the Sales & Use Tax Fund THREE HUNDRED THOUSAND DOLLARS
($300,000) for transfer to the General City Capital Project Fund to be used for
the Project.
Section 2. That there is hereby appropriated for expenditure from the
General City Capital Projects Fund the sum of $300,000 for the construction and
installation of the above described project improvements.
Introduced, considered favorably on first reading, and ordered published
this 7th day of June, A.D. 1994, and to be presented f°nal !p:assag t e
21st day of June, A.D. 1994.
Mayor \
ATTEST:
City Clerk
Passed and adopted on final reading this 21st day of June, A.D. 1994.
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ATTEST: yor
City Clerk