HomeMy WebLinkAbout064 - 06/04/1996 - APPROPRIATING UNANTICIPATED REVENUE FOR THE RAILROAD CONSOLIDATION PROJECT ORDINANCE NO. 64, 1996
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN
THE CAPITAL PROJECTS FUND TO BE USED FOR
THE RAILROAD CONSOLIDATION PROJECT
WHEREAS, the City Council passed Ordinance No. 35, 1992, on March 3, 1992
appropriating $700,000, representing the City's share of costs for the Downtown Railroad
Consolidation Project (the "Project"); and
WHEREAS, the Project would improve train operations and eliminate a majority of tracks
in the downtown area, reducing delays to motorists, traffic construction, air pollution, and would
improve safety of City streets; and
WHEREAS, recent cost estimates to complete Phase III of the Project indicate that the
Project funding is short $1,592,000; and
WHEREAS,the shortage is due to several factors including higher railroad construction costs
than originally estimated, increases in the railroad labor additives, higher utility relocation costs,
higher right-of-way acquisition, unanticipated environmental cleanup costs, higher storm drainage
costs, and inflationary increases over the last four years; and
WHEREAS, the following funding sources have been identified which would allow for the
completion of Phases I and II of the Project:
Colorado Department of Transportation $ 248,000
Burlington Northern Santa Fe Railroad 108,000
Union Pacific Railroad 64,000
Public Service Company of Colorado 170,000
Total $ 590,000
WHEREAS, Article V, Section 14, of the Charter of the City of Fort Collins 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 Mayor will meet with railroad, state, and federal officials in June to
negotiate additional funding needed to construct Phase III of the Project; and
WHEREAS, it is the desire of Council to appropriate the sum of$590,000 from available
sources, as identified by Staff, to be used to construct improvements related to Phases I and 11 of the
Project.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in the
Capital Projects Fund,the sum of FIVE HUNDRED NINETY THOUSAND DOLLARS ($590,000)
from the following sources:
Colorado Department of Transportation $ 248,000
Burlington Northern Santa Fe Railroad 108,000
Union Pacific Railroad 64,000
Public Service Company of Colorado 170,000
Total $ 590,000
to be used for the construction of Phases I and II of the Downtown Railroad Consolidation Project.
Introduced, considered favorably on first reading, and or published thi day of
May, A.D. 1996, and to be presented for final passage on th h dX of June, A,D f996�
Mayor /
ATTEST:
'Fzgy,�City Clerk
Passed and adopted on final reading this 4th day of It A.D. 19 —
Mayor
ATTEST:
City Clerk