HomeMy WebLinkAbout040 - 04/18/1995 - APPROPRIATING FUNDS FROM PRIOR YEAR RESERVES AND AUTHORIZING THE TRANSFER OF APPROPRIATED AMOUNTS BE ORDINANCE NO. 40, 1995
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 ADDITIONAL
AMOUNTS NEEDED TO CONSTRUCT STREET IMPROVEMENTS TO LINDEN
STREET BETWEEN WALNUT AN JEFFERSON STREETS
WHEREAS, streetscape improvements to Linden Street between Walnut and Jefferson
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, the Project encompasses improvements along Linden Street from Walnut to
Jefferson Street including a pedestrian crossing from Old Town Square across Walnut Street, and
includes widening the sidewalk from twelve (12) 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; and
WHEREAS, the estimated cost of the Project in May of 1994 was $623,245; and
WHEREAS, by Ordinance No. 35, the City Council, Ex-Officio the Board of Directors of
GID No. 1, approved an appropriation of$222,223 from prior year reserves in addition to $35,244
from existing appropriations, for a total of$257,467, as partial funding for the Project; and
WHEREAS, any of the aforementioned appropriations in the GID which were not spent or
encumbered at the end of 1994 have since lapsed into the GID reserves; and
WHEREAS, the City Council, by Ordinance No. 98, 1994, approved an appropriation of
$300,000 from the Use Tax Carryover Reserve in the Sales and Use Tax Fund to cover the project
costs in excess of available GID dollars; and
WHEREAS, the Project cost estimate included an allowance to accommodate adjustments
to the project scope as needed to help ensure the project is constructed within the estimated budget;
and
WHEREAS, the Project was postponed last year due to delays and revisions to the final
designs and construction drawings; and
WHEREAS, the only bid received on the Project was for$687,000, approximately, 9% over
the cost estimate; and
WHEREAS, the actual bid price of$687,000 plus a contingency_ of$82,500 result in a total
of $769,500 which leaves a shortfall in funding for the Project over the current existing project
appropriations of$219,500; and
WHEREAS, staff has identified additional funds totaling $115,000 from the following
sources outside the GID to cover a portion of the costs in excess of available GID dollars:
Sales/Use Tax Fund - Use Tax Carryover Reserve $ 74,500
Capital Projects Fund - 1/4 Cent Street Maintenance Street
Overlay & Sealcoat Program Existing Appropriations 30,500
Capital Projects Fund - Minor Street Capital Existing
Appropriations 10.000
Total $115,000
WHEREAS, staff recommends a portion of the remainder of the shortfall be reduced by
shifting funding for bicycle racks($6,400)which were part of the Project to the Transportation Fund
where ISTEA money will be used to offset this cost; and
WHEREAS, staff also recommends that the cost of the Project be further reduced by
eliminating City funding for the cost of the clock($29,100),and that staff work with other non-profit
organizations in raising funds to pay for this piece of the Project; and
WHEREAS, the scope of the Project will be reduced by$69,000 by eliminating the bollards
($15,000), and new sandstone paving ($32,000), and reducing the contingency ($22,000) thereby
accounting for the total shortfall; 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, Article `J, Section 14, of the Charter; authorizes the Council to transfer by
ordinance, upon the recommendation of the City Manager, any unexpended appropriated amount of
portion thereof from one fund to another,provided that the purpose for which the transferred funds
are to be expended remains unchanged; and
WHEREAS, Article V, Section 14, of the Charter authorizes the Council to appropriate
unanticipated revenues which are the result of new revenue sources at any time during the year in
which such revenue is received; and
WHEREAS,the Council, sitting as the Board of Directors of GID No. 1, has this same date
adopted GID Ordinance No. 37, appropriating $250,000 in GID funds and authorizing the same for
transfer to the Capital Projects Fund to be used for this Project; and
WHEREAS,it is the desire of the Council to appropriate the total sum of$365,000,including
$115,000 from the sources identified by staff and $250,000 transferred to the City from the GID in
accordance with GID Ordinances No: 37, to be7used for the Project.
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 SEVENTY-FOUR THOUSAND FIVE HUNDRED
DOLLARS ($74,500) for transfer to the Capital Projects Fund, Linden Street Improvements Project
and appropriated therein to be used for the Project.
Section 2. That the unexpended appropriated amount of THIRTY THOUSAND FIVE
HUNDRED DOLLARS ($30,500) is hereby authorized for transfer from the Capital Projects Fund,
Street Overlay&Sealcoat Project to the Capital Projects Fund,Linden Street Improvements Project
to be used for the Project.
Section 3. That the unexpended appropriated amount of TEN THOUSAND DOLLARS
($10,000) is hereby authorized for transfer from the Capital Projects Fund, Minor Street Capital
Project to the Capital Projects Fund-,Linden Street Improvements Project to be used for the Project.
Section 4. That there is hereby appropriated for expenditure from unanticipated revenue in
the Capital Projects Fund,Linden Street Improvements Project,the sum of TWO HUNDRED FIFTY
THOUSAND DOLLARS ($250,000) to be used for the Project.
Introduced, considered favorably on first reading, and ordered ublished this 21st day of
March, A.D. 1995, and to be presented for final passage on theZ1af April, A. 5.
ayor
ATTEST:
City Clerk
Passed and adopted on final reading this 18th day of A D. 95.
Mayor
ATTEST:
�t J City Clerk