HomeMy WebLinkAbout051 - 05/04/1999 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR A REBATE OF DEVELOPMENT FEES TO ADVANCED E ORDINANCE NO. 51, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE
GENERAL FUND FOR A REBATE OF DEVELOPMENT
FEES TO ADVANCED ENERGY INDUSTRIES, INC.
WHEREAS, by its adoption of Ordinance No. 102, 1995, the Council approved and
authorized a rebate of development fees associated with the construction of a new 55,000 square foot
manufacturing facility for Advanced Energy Industries. Inc. (A-E); and
WHEREAS, by its adoption of Ordinance No. 189, 1998, the Council amended Ordinance
102, 1995 to reduce the development fee granted in Ordinance No. 102, 1995 to comply with Section
5-326 of the City Code which specifically limits the rebate of fees to impact fees; and
WHEREAS, by its adoption of Ordinance No. 31, 1999, the Council repealed Article VII,
Chapter 5 of the City Code in order to terminate the Development Impact Fee Rebate Program,
except as applicable to Development Fee Rebates currently in process; and
WHEREAS, A-E was granted a rebate of fees prior to Ordinance No. 31, 1999; and
WHEREAS,Ordinance No. 102, 1995,required that no rebate payment be made prior to the
City receiving $300,000, which sum represents twice the estimated amount needed by the City to
maintain the public infrastructure to be constructed in the vicinity of the site over a twenty(20)year
period; and
WHEREAS, A-E has paid City fees and taxes in connection with its new facility in the
amount of$521,191, an amount well in excess of the $300,000; and
WHEREAS, the total amount of development tees to be rebated to A-E is $61,701; and
WHEREAS, the funds necessary to pay said rebate amount are available in Prior Year
Reserves in the General Fund; and
WHEREAS, Article V, Section 9 of the City Charter, permits the Council, upon
recommendation of the City Manager, may appropriate by ordinance at any time during the fiscal
year such funds for expenditure as may be available from reserves accumulated in prior years,
notwithstanding that such reserves were not previously appropriated.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from Prior Year Reserves in the General
Fund the sum of SIXTY ONE THOUSAND SEVEN HUNDRED AND ONE DOLLARS($61,701)
for the rebate of development fees to Advanced Energy Industries, Inc.
Introduced and considered favorably on first reading and ordered published this 20th day of
April, A.D. 1999, and to be presented for final passage on the 4th day of May, A.D. 1999.
Mavor
ATTEST:
"UL
City Clerk
Passed and adopted on final reading this 4th day of May, A.D. 1999.
. '' ,✓ Syr T✓ �} !
Mavor
ATTEST:
- 14614 k� A a
City Clerk