HomeMy WebLinkAbout024 - 02/17/2004 - APPROPRIATING PRIOR YEAR RESERVES IN THE EQUIPMENT FUND TO BE USED TO PURCHASE PROPERTY LOCATED AT 5 ORDINANCE NO. 024, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE EQUIPMENT FUND
TO BE USED TO PURCHASE PROPERTY LOCATED AT 518 NORTH LOOMIS AVENUE
AND TO MAKE CERTAIN SITE IMPROVEMENTS TO THE PROPERTY THEREON
WHEREAS, the City currently owns and uses four facilities located in the Downtown
Civic Center Complex and one location at the Fleet Services site on Wood Street, totaling
approximately 21,500 square feet, to store new and unused furniture, as well as Fleet and Facility
Services' maintenance and repair materials; and
WHEREAS, City staff has been considering a 1.01 acre site located at 518 North Loomis
Avenue that includes three connected warehouse buildings, totaling 20,040 square feet, to be
used to consolidate the aforementioned furniture and maintenance and repair materials, currently
stored in five locations; and
WHEREAS, purchasing additional warehouse space would preclude the need to include
storage space in a future Operations Services Building, resulting in a savings, in excess of $1M,
for that future facility; and
WHEREAS, staff has discussed the possibility of the City acquiring the property at 518
North Loomis Avenue with the Martinez Farm neighborhood group, and has received positive
feedback from that group in support of the City's purchase of the property; and
WHEREAS, the cost of the property located at 518 North Loomis Avenue is $597,000;
and
WHEREAS, staff recommends purchasing the aforementioned property at the cost of
$597,000 to be used as a storage location for consolidating City owned furniture and Fleet and
Facility Services' maintenance and repair materials, and spending an additional $85,000 to make
certain site improvements to the property, including site cleanup, landscaping, and fence
removal; and
WHEREAS, staff has identified prior year reserves in the Equipment Fund, totaling
$682,000, to be used to purchase the property located at 518 North Loomis Avenue and to make
certain site improvements thereon; 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; and
WHEREAS, it is the desire of the Council to appropriate $682,000 from prior year
reserves in the Equipment to be used to purchase the property located at 518 North Loomis
Avenue and to make certain site improvements thereon.
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
Equipment Fund the sum of SIX HUNDRED EIGHTY-TWO THOUSAND DOLLARS
($682,000) to be used to purchase the property located at 518 North Loomis Avenue and to make
certain site improvements thereon.
Introduced and considered favorably on first reading and ordered published this 3rd day
of February, A.D. 2004, and to be presented for final passage on the h day of February, A.D.
2004.
Ma or
ATTEST:
UL�k
City Clerk
Passed and adopted on final reading this 17th day of February, 2004.
Mayor
ATTEST:
City Clerk