HomeMy WebLinkAbout001 - 02/06/2024 - APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSPORTATION CAPITAL EXPANSION FEE FUND FOR ELIGIBLE REIMORDINANCE NO.001,2024
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE
TRANSPORTATION CAPITAL EXPANSION FEE FUND FOR
ELIGIBLE REIMBURSEMENT TO THE WATERFIELD FOURTH
FILING DEVELOPER FOR CONSTRUCTION OF SUNIGA ROAD,
VINE DRIVE,AND MERGANSER STREET IMPROVEMENTS AS
PART OF WATERFIELD FOURTH FILING PHASES I THROUGH 4;
AND FOR THE DEDICATION OF SUNIGA ROAD RIGHT-OF-WAY
A.City Code Section 7.5-32 establishes a transportation capital expansion fee
(7CEF”)that is one of the City’s capital expansion fees that are imposed on development
at the time of building permit issuance to ensure that new growth and development in the
City bears a proportional share of the City’s costs for certain capital improvements,
including streets and related transportation improvements.
B.City Code Section 7.5-32 also provides that the TCEF revenues are to be
deposited into the City’s Transportation Improvement Fund established in City Code
Section 8-87 (the “TCEF Fund”).
C.City Code Section 8-87 directs that the monies in the TCEF Fund are to be
used as provided in Division 2 of Article Ill of City Code Chapter 24 (“Division 2”).
D.Division 2 provides that the revenues in the TCEF Fund are to be used by
the City to fund certain transportation improvements,including arterial and collector
streets,either directly or as reimbursement to developers of real property who have
constructed such improvements.
E.For a developer to be eligible for reimbursement of its costs for qualifying
transportation improvements it has constructed,Division 2 requires the developer to
submit proof of its costs to the City for the City Engineer’s review and approval consistent
with the requirements of Division 2.
F.DFC Waterfield,LLC is the developer of the Waterf’ield Fourth Filing
development (“Developer’)and as part of that development,has constructed portions of
Suniga Road as a four-lane arterial street,Vine Drive as a collector street,realigned
Merganser Drive from a curved alignment to a north-south orientation,and has dedicated
right-of-way for Suniga Road beyond local access standards to facilitate the future
construction of Suniga Road to Timberline Road (collectively,“Road Improvements”).
G.The Developer has submitted its request to the City for a reimbursement of
$1,413,645 representing its costs for the oversized portions of the Road Improvements
(the “Reimbursement Request”).
H.The City Engineer has reviewed the Reimbursement Request and
determined it meets the requirements of Division 2 and that the Developer is eligible to
be reimbursed for the amount requested in its Reimbursement Request,but City Code
Section 24-112(c)provides that all reimbursements under Division 2 must first be
appropriated from the TCEF fund by City Council.
I.The monies necessary to satisfy the Reimbursement Request have not
been appropriated from the TCEF Fund by Council,so this Ordinance must be adopted
by Council before the reimbursement can be made to the Developer.
J.Article V,Section 9 of the City Charter permits the City Council,upon the
recommendation of the City Manager,to make supplemental appropriations 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.
K.The City Manager has recommended the appropriation described herein
and determined that this appropriation is available and previously unappropriated from
the TCEF Fund and will not cause the total amount appropriated in the TCEF Fund to
exceed the current estimate of actual and anticipated revenues and all other funds to be
received in this Fund during this fiscal year.
L.This appropriation benefits the public health,safety and welfare of the
residents of Fort Collins and serves the public purpose of reimbursing the Developer for
the costs it incurred to construct the Road Improvements to oversized standards,which
standards the Developer was not legally required to satisfy considering the impacts of the
development.
In light of the foregoing recitals,which the Council hereby makes and adopts as
determinations and findings,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated from prior year reserves in the
Transportation Capital Expansion Fee Fund the sum of ONE MILLION FOUR HUNDRED
THIRTEEN THOUSAND SIX HUNDRED FORTY-FIVE DOLLARS ($1,413,645)to be
expended in the Transportation Capital Expansion Fee Fund for eligible reimbursement
of the Developer for construction of Suniga Road,Vine Drive,and Merganser Street
improvements and for the dedication of right-of-way for Suniga Road beyond local access
standards.
Introduced,considered favorably on first reading on January 16,2024,and
approved on second reading for final passage on February 6,2024.
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ATTEST:
Interim City Clerk
Effective Date:February 16,2024
Approving Attorney:Ryan Malarky