HomeMy WebLinkAbout069 - 06/04/2013 - APPROPRIATING PRIOR YEAR RESERVES IN THE KEEP FORT COLLINS GREAT FUND TO SUPPORT THE LANDMARK REHABI ORDINANCE NO. 069, 2013
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE KEEP FORT COLLINS
GREAT FUND TO SUPPORT THE LANDMARK REHABILITATION
LOAN PROGRAM FOR 2013
WHEREAS, the Landmark Rehabilitation Loan Program (the "Landmark Program") was
established in 1994 and is a critical financial program for encouraging the protection and
revitalization of historic residential and commercial structures; and
WHEREAS, the Landmark Program provides financial assistance to complete construction
rehabilitation work such as asbestos siding abatement, casement window repair, porch restoration,
roof and chimney repairs, and repair of carved stone cornice; and
WHEREAS,rehabilitation loans provided to property owners are paid back to the City at the
time of the sale or transfer of the benefitted property, and those funds are returned to the Landmark
Program for further distribution; and
WHEREAS, the Landmark Program is closely linked with the other historic preservation
incentive sub-program, the Design Assistance Program or"DAP", that provides funding assistance
in the design of historic rehabilitation projects; and
WHEREAS, both sub-programs were funded in 2012 under the Keep Fort Collins Great -
Other Community Priorities fund (the "KFCG") and are funded in 2013 and 2014 by KFCG; and
WHEREAS,there is a backlog of historic rehabilitation projects proposed and the Landmark
Program does not have sufficient funds to meet the application requests for funding assistance in
2013; and
WHEREAS,the DAP had approximately$33,000 in unutilized funding available after 2012
that went back into KFCG Other Community Priorities reserves without being appropriated; and
WHEREAS,the one-time requestfor KFCG Other Community Priorities reserves of$33,000
would be used in 2013 to fund projects approved through the Landmark Program and would be
matched by approximately $50,000 by owners of the benefitted historic properties; and
WHEREAS,Article V,Section 9,of the City Charter 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 reserves in the Keep Fort Collins
Great Fund the sum of THIRTY THREE THOUSAND DOLLARS ($33,000)to support the City's
Landmark Rehabilitation Loan Program for 2013.
Introduced, considered favorably on first reading, and ordered published this 21st day of
May, A.D. 2013, and to be presented for final passage on the 4th day of June, A.D. 2013.
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Passed and adopted on final reading on the 4th day of June, A.D. 2013.
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