HomeMy WebLinkAbout087 - 06/17/1997 - APPROPRIATING UNANTICIPATED REVENUE IN THE PARKLAND FUND AND AUTHORIZING TRANSFER OF APPROPRIATIONS ORDINANCE NO. 87, 1997
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE PARKLAND FUND AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN FUNDS
FOR THE PURPOSE OF PURCHASING LAND ADJACENT TO
LEE MARTINEZ PARK
WHEREAS,the Trillium Corporation owns an 11.38 acre parcel of land located adjacent to
Lee Martinez Park(the"Property"),at the southeast end of the park,which has been for sale for quite
some time; and
WHEREAS,the neighborhood group known as the Lee Martinez Neighborhood Association
has been concerned about the potential sale of the Property to developers interested in high density
developments; and
WHEREAS, through extraordinary partnering efforts, a series of meetings were arranged
between the City,the Lee Martinez Neighborhood Association, and Trillium Corporation, resulting
in Trillium Corporation granting the Lee Martinez Neighborhood Association an option to purchase
the Property; and
WHEREAS, the Lee Martinez Neighborhood Association has found a developer,
Wonderland Park Development Company ("Wonderland"), that is willing to build a co-housing
development including 60 new units of housing and 12,000 square feet of retail/commercial space;
and
WHEREAS, Wonderland will purchase the Property from Trillium Corporation for the co-
housing development; and
WHEREAS, the City will vacate certain park easements and purchase 1.872 acres of the
Property from Wonderland for $132,162; and
WHEREAS,the 1.872 acres purchased by the City will be used as a gateway to Lee Martinez
Park, improving access, parking and the overall beauty of the park; and
WHEREAS, the following sources have been identified to fund the City's purchase of the
1.872 acres:
General Fund Existing Appropriations $ 82,162
Downtown Development Authority 35,000
Lee Martinez Neighborhood Association 15,000
Total $132,162
and
WHEREAS,on June 3, 1997, City Council adopted Ordinance No. 86, 1997, approving the
vacation of a parkland easement on property needed by Wonderland; and
WHEREAS, on June 3, 1997, City Council adopted Resolution 97-76, authorizing the City
Manager to enter into an intergovernmental agreement with the Downtown Development Authority
concerning the City's purchase of parkland from Wonderland; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the"Charter")
permits the City Council to make supplemental appropriations by ordinance at any time during the
fiscal year, provided that the total amount of such supplemental appropriations, in combination with
all previous appropriations for that fiscal year, do not exceed the then current estimate of actual and
anticipated revenues to be received during the fiscal year; and
WHEREAS, Article V, Section 10, of the Charter authorizes the City Council to transfer by
ordinance any unexpended and unencumbered amount or portion thereof from one fund or capital
project to another fund or capital project,provided that the proposed transfer is from a fund or capital
project in which the amount appropriated exceeds the amount needed to accomplish the purpose
specified in the appropriation ordinance; and
WHEREAS, staff has determined that the appropriation of unanticipated revenue in
connection with the purchase of parkland near Lee Martinez Park in the amount of$50,000 will not
result in total appropriations in excess of the current estimate of actual and anticipated revenues for
fiscal year 1997; and
WHEREAS, it is the desire of the Council to appropriate unanticipated revenue in the sum
of$15,000 in funds raised by the Lee Martinez Neighborhood Association and $35,000 from the
Downtown Development Authority and authorize the transfer of$82,162 from the City's General
Fund to the Parkland Fund, all to be used to purchase parkland adjacent to Lee Martinez Park.
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 unanticipated revenue in
the Parkland Fund received from the Lee Martinez Neighborhood Association and the Downtown
Development Authority,the sum of FIFTY THOUSAND DOLLARS ($50,000) for the purchase of
parkland adjacent to Lee Martinez Park.
Section 2. That the unexpended appropriated amount of EIGHTY-TWO THOUSAND ONE
HUNDRED SIXTY-TWO DOLLARS ($82,162) is hereby authorized for transfer from the General
Fund to the Parkland Fund and appropriated therein for the purchase of parkland adjacent to Lee
Martinez Park.
Introduced and considered favorably on first reading and orde pu ished t ' d day of
June, A.D. 1997, and to be considered for final passage on the 17 day une, 97.
ayor
ATTEST:
City Clerk
Passed and adopted on final reading this 17th day of June, A.D. 1997.
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Mayor NO Tem
ATTEST:
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City Clerk