HomeMy WebLinkAbout001 - 01/18/2000 - APPROPRIATING USE TAX CARRYOVER RESERVES FOR A REBATE OF IMPACT FEES TO SYMBIOS LOGIC, INC. ORDINANCE NO. 1, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING USE TAX CARRYOVER RESERVES IN THE SALES AND USE TAX
FUND FOR A REBATE OF IMPACT FEES TO
SYMBIOS LOGIC, INC.
WHEREAS,pursuant to Ordinance No. 112, 1996,the City Council approved and authorized
a rebate of development fees associated with the construction of a new 100,000 square foot office
building for Symbios Logic, Inc.; and
WHEREAS, pursuant to Ordinance No. 189, 1998, the City Council amended previous
ordinances in order 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WHEREAS, pursuant to Ordinance No. 31, 1999, the City Council repealed Article VII,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, Symbios Logic was granted a rebate of fees prior to Ordinance No. 31, 1991;
and
WHEREAS, Symbios Logic has paid City fees and taxes in connection with its new facility
in the amount of$543,720; and
WHEREAS,Ordinance No. 112, 1996,required that no rebate payment be made prior to the
City receiving $40,000, 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, the $543,720 paid by Symbios Logic is well in excess of the $40,000; and
WHEREAS, the total amount of development fees to be rebated to Symbios Logic is
$339,400; and
WHEREAS, the Capital Improvement Expansion Fees were undercharged at the time the
Symbios Logic building permit was issued; and
WHEREAS,as a convenience to Symbios Logic,the City's Finance Department can transfer
the undercharged fees in the amount of$35,875 to the Capital Expansion Fund in lieu of requiring
Symbios Logic to remit the fees and then have the fees rebated; and
WHEREAS, the funds necessary to pay said rebate amount and transfer the Capital
Improvement Expansion Fees are available in the Use Tax Carryover Reserve in the Sales and Use
Tax Fund; and
WHEREAS,Article V, Section 9,of the Charter of the City of Fort Collins permits the City
Council to 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 Sales and
Use Tax Fund the sum of THREE HUNDRED THIRTY-NINE THOUSAND FOUR HUNDRED
DOLLARS($339,400)for the rebate of impact fees to Symbios Logic,Inc.and the sum of THIRTY-
FIVE THOUSAND EIGHT HUNDRED SEVENTY FIVE DOLLARS($35,875)for transfer to the
Capital Expansion fund.
Introduced and considered favorably on first reading and ordered published this 4th day of
January, A.D. 2000, and to be presented for final passage on the 18th day of January, A.D. 2000.
ATTES Mayor
City Clerk
Passed and adopted on final reading this 18th day of January, A.D. 2000.
Mayor
ATTEST:
City Clerk