HomeMy WebLinkAbout010 - 01/17/1989 - GRANTING A PARTIAL EXEMPTION FROM PAYMENT OF THE STREET OVERSIZING FEE AND AUTHORIZING THE TRANSFER ORDINANCE NO. 10, 1989
OF THE COUNCIL OF THE CITY OF FORT COLLINS
GRANTING A PARTIAL EXEMPTION FROM
PAYMENT OF THE STREET OVERSIZING FEE AND
AUTHORIZING THE TRANSFER OF CERTAIN PRIOR YEAR
RESERVES INTO THE STREET OVERSIZING FUND
WHEREAS, City Council has determined that it is in the best interests
of the City that high priority be given to the economic development and
enhancement of economic health of the City; and
WHEREAS, the Council has further adopted certain policies and
strategies to promote economic development and enhancement of economic
health, those policies having been adopted on March 17, 1987, pursuant to
Resolution 87-49; and
WHEREAS, said Resolution 87-49 encourages economic development and
opportunities that provide primary employment, increase private investment
in the community, and improve the quality of life of the citizens of the
City; and
WHEREAS, Section 24-120(b) of the Code of the City authorizes the
Council to exempt certain qualifying businesses or industries from payment
of the street oversizing fee, in whole or in part, and to transfer monies
into the Street Oversizing Fund in lieu of any such exempted fees; and
WHEREAS, C/B/W Inc. is a manufacturing firm desiring to locate in the
City; and
WHEREAS, C/B/W Inc. meets the criteria of Section 24-120(b) of the
Code, is capable of providing such primary employment opportunities and, if
located in the City, would increase private investment in the community and
improve the overall quality of life of the citizens of the City; and
WHEREAS, the 1988 sales tax receipts of the City of Fort Collins will
exceed projected revenues, so that revised 1988 undesignated reserves, as
shown in the 1989 budget, are sufficient to permit the transfer from prior
year's reserves of an amount equal to the exempted portion of the fee; and
WHEREAS, Article V of the Charter of the City of Fort Collins
authorizes the City Council to provide by ordinance for payment of any
expense from prior year reserves at any time such reserves are available;
and
WHEREAS, the City Council has determined that it is in the best
interests of the City that C/B/W Inc. be partially exempted from payment of
the street oversizing fee to the extent of one-half (1/2) of such fee or
the sum of Eighteen Thousand Dollars ($18,000) , whichever is less, and that
a like amount be appropriated from prior year reserves within the
Restricted Reserve for Economic Development for transfer into the Street
Oversizing Fund.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Council hereby finds and determines that C/B/W
Inc. is a manufacturing firm which, if located within the City of Fort
Collins, will contribute substantially to the economic development of the
City and which meets the criteria established in Section 24-120(b) of the
Code of the City.
Section 2. That C/B/W Inc. be and is hereby granted a partial
exemption from imposition of the City's street oversizing fee pursuant to
Chapter 24 of the Code, to the extent of one-half (1/2) of the amount of
such fee as would otherwise be imposed thereunder or to the extent of
Eighteen Thousand Dollars (E18,000), whichever is less.
Section 3. That an amount of money equal to the above-mentioned
exempted portion of the street oversizing fee is hereby authorized for
transfer from prior year reserves within the General Fund Restricted
Reserve for Economic Development and is appropriated for expenditure from
the Street Oversizing Fund for the purposes described in Section 24-121 of
the Code, which transfer and appropriation shall take effect at such time
that C/B/W Inc. applies for and obtains, pursuant to all applicable
ordinances and regulations of the City, a building permit for construction
of its manufacturing plant within the City of Fort Collins.
Section 4. That in the event that the building permit referred to
above is not issued on or before December 31, 1989, the monies hereinabove
authorized for transfer and appropriation shall lapse to the Restricted
Reserve for Economic Development within the General Fund and the
aforementioned exemption shall be automatically withdrawn and rescinded.
Introduced, considered favorably on first reading, and ordered
published this 3rd day of January A.D. 1989, and to be presented for final
passage on the 17th day of January A.D. 1989.
Mayor
ATTEST:
�S Z
City Clerk
Passed and adopted on final reading this 17th day of January, A.D.
1989.
AWISTAW . Mayor
ATTEST:
City Clerk