HomeMy WebLinkAbout041 - 05/03/2011 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND FOR THE BUILDING ON BASICS LINCOLN ORDINANCE NO. 041, 2011
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND
FOR THE BUILDING ON BASICS LINCOLN CENTER RENOVATION PROJECT
WHEREAS, on November 1, 2005, Fort Collins voters passed Ordinance No. 092, 2005
approving the"Building on Basics" ("BOB")tax for certain capital projects including the Lincoln
Center Renovation Project(the "Project"); and
WHEREAS,the Lincoln Center,which has been the center of Fort Collins' cultural life for
32 years, is in need of improvements; and
WHEREAS, the Project will add 17,000 square feet and renovate 55,000 square feet with
a focus on improving the patron experience, performer amenities, and infusing new life into the
facility; and
WHEREAS, the total cost of the Project, including the structural reinforcement of the
performance hall walls, is estimated to be $8 million, to be paid for with $5.5 million of BOB
funding, $1.86 million previously appropriated from grants,donations,and prior year reserves,and
an additional $605,000 to be appropriated with this Ordinance; and
WHEREAS,additional unanticipated revenue in the amount of$605,000 has been received
from the Lincoln Center Support League, which is a 501(c)(3) non-profit corporation formed by
private parties to raise and donate funds to the Lincoln Center to support its activities; and
WHEREAS, the Lincoln Center Support League has collected $500,000 from a Bohemian
Foundation Grant, $56,000 from the Griffin Family Foundation, $50,000 in the form of a
contribution from Bob and Joyce Everitt, and $5,000 in donations from various other individuals;
and
WHEREAS, Article V, Section 9 of the City Charter permits the City Council to make
supplemental appropriations by ordinance at any time during the fiscal year,provided that the total
amount of such supplemental appropriations, in combination with all previous appropriations for
that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be
received during the fiscal year; and
WHEREAS, City staff has determined that the appropriation of the revenue as described
herein will not cause the total amount appropriated in the Capital Projects Fund to exceed the current
estimate of actual and anticipated revenues to be received in that fund during any fiscal year.
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 SIX HUNDRED FIVE THOUSAND DOLLARS ($605,000)for
the Building on Basics - Fort Collins Lincoln Center Renovation Project.
Introduced, considered favorably on first reading, and ordered published this 19th day of
April, A.D. 2011, and to be presented for final passage on the 3rd day of May, A.D. 2011.
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Passed and adopted on final rea ing on the 3rd day of May, A.D. 2011.
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