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HomeMy WebLinkAbout040 - 04/18/1995 - APPROPRIATING FUNDS FROM PRIOR YEAR RESERVES AND AUTHORIZING THE TRANSFER OF APPROPRIATED AMOUNTS BE ORDINANCE NO. 40, 1995 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING FUNDS FROM PRIOR YEAR RESERVES AND AUTHORIZING THE TRANSFER OF APPROPRIATED AMOUNTS BETWEEN FUNDS FOR THE PURPOSE OF PROVIDING ADDITIONAL AMOUNTS NEEDED TO CONSTRUCT STREET IMPROVEMENTS TO LINDEN STREET BETWEEN WALNUT AN JEFFERSON STREETS WHEREAS, streetscape improvements to Linden Street between Walnut and Jefferson Streets in the immediate vicinity of the Linden Hotel and Salvation Army buildings was approved by Council as the highest priority among GID capital projects; and WHEREAS, the Project encompasses improvements along Linden Street from Walnut to Jefferson Street including a pedestrian crossing from Old Town Square across Walnut Street, and includes widening the sidewalk from twelve (12) to eighteen (18) feet along both sides of Linden Street; reconstructing the roadway on Linden Street; renovating the existing sandstone pavers and placing them into the proposed sidewalk; all landscaping, pavement improvements and street furnishings; an allowance for street art, lighting and a street clock; and WHEREAS, the estimated cost of the Project in May of 1994 was $623,245; and WHEREAS, by Ordinance No. 35, the City Council, Ex-Officio the Board of Directors of GID No. 1, approved an appropriation of$222,223 from prior year reserves in addition to $35,244 from existing appropriations, for a total of$257,467, as partial funding for the Project; and WHEREAS, any of the aforementioned appropriations in the GID which were not spent or encumbered at the end of 1994 have since lapsed into the GID reserves; and WHEREAS, the City Council, by Ordinance No. 98, 1994, approved an appropriation of $300,000 from the Use Tax Carryover Reserve in the Sales and Use Tax Fund to cover the project costs in excess of available GID dollars; and WHEREAS, the Project cost estimate included an allowance to accommodate adjustments to the project scope as needed to help ensure the project is constructed within the estimated budget; and WHEREAS, the Project was postponed last year due to delays and revisions to the final designs and construction drawings; and WHEREAS, the only bid received on the Project was for$687,000, approximately, 9% over the cost estimate; and WHEREAS, the actual bid price of$687,000 plus a contingency_ of$82,500 result in a total of $769,500 which leaves a shortfall in funding for the Project over the current existing project appropriations of$219,500; and WHEREAS, staff has identified additional funds totaling $115,000 from the following sources outside the GID to cover a portion of the costs in excess of available GID dollars: Sales/Use Tax Fund - Use Tax Carryover Reserve $ 74,500 Capital Projects Fund - 1/4 Cent Street Maintenance Street Overlay & Sealcoat Program Existing Appropriations 30,500 Capital Projects Fund - Minor Street Capital Existing Appropriations 10.000 Total $115,000 WHEREAS, staff recommends a portion of the remainder of the shortfall be reduced by shifting funding for bicycle racks($6,400)which were part of the Project to the Transportation Fund where ISTEA money will be used to offset this cost; and WHEREAS, staff also recommends that the cost of the Project be further reduced by eliminating City funding for the cost of the clock($29,100),and that staff work with other non-profit organizations in raising funds to pay for this piece of the Project; and WHEREAS, the scope of the Project will be reduced by$69,000 by eliminating the bollards ($15,000), and new sandstone paving ($32,000), and reducing the contingency ($22,000) thereby accounting for the total shortfall; and WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins (the "Charter") 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, Article `J, Section 14, of the Charter; authorizes the Council to transfer by ordinance, upon the recommendation of the City Manager, any unexpended appropriated amount of portion thereof from one fund to another,provided that the purpose for which the transferred funds are to be expended remains unchanged; and WHEREAS, Article V, Section 14, of the Charter 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 Council, sitting as the Board of Directors of GID No. 1, has this same date adopted GID Ordinance No. 37, appropriating $250,000 in GID funds and authorizing the same for transfer to the Capital Projects Fund to be used for this Project; and WHEREAS,it is the desire of the Council to appropriate the total sum of$365,000,including $115,000 from the sources identified by staff and $250,000 transferred to the City from the GID in accordance with GID Ordinances No: 37, to be7used for the Project. NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That there is hereby appropriated for expenditure from the Use Tax Carryover Reserve in the Sales & Use Tax Fund SEVENTY-FOUR THOUSAND FIVE HUNDRED DOLLARS ($74,500) for transfer to the Capital Projects Fund, Linden Street Improvements Project and appropriated therein to be used for the Project. Section 2. That the unexpended appropriated amount of THIRTY THOUSAND FIVE HUNDRED DOLLARS ($30,500) is hereby authorized for transfer from the Capital Projects Fund, Street Overlay&Sealcoat Project to the Capital Projects Fund,Linden Street Improvements Project to be used for the Project. Section 3. That the unexpended appropriated amount of TEN THOUSAND DOLLARS ($10,000) is hereby authorized for transfer from the Capital Projects Fund, Minor Street Capital Project to the Capital Projects Fund-,Linden Street Improvements Project to be used for the Project. Section 4. That there is hereby appropriated for expenditure from unanticipated revenue in the Capital Projects Fund,Linden Street Improvements Project,the sum of TWO HUNDRED FIFTY THOUSAND DOLLARS ($250,000) to be used for the Project. Introduced, considered favorably on first reading, and ordered ublished this 21st day of March, A.D. 1995, and to be presented for final passage on theZ1af April, A. 5. ayor ATTEST: City Clerk Passed and adopted on final reading this 18th day of A D. 95. Mayor ATTEST: �t J City Clerk