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HomeMy WebLinkAbout087 - 06/17/1997 - APPROPRIATING UNANTICIPATED REVENUE IN THE PARKLAND FUND AND AUTHORIZING TRANSFER OF APPROPRIATIONS ORDINANCE NO. 87, 1997 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE PARKLAND FUND AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN FUNDS FOR THE PURPOSE OF PURCHASING LAND ADJACENT TO LEE MARTINEZ PARK WHEREAS,the Trillium Corporation owns an 11.38 acre parcel of land located adjacent to Lee Martinez Park(the"Property"),at the southeast end of the park,which has been for sale for quite some time; and WHEREAS,the neighborhood group known as the Lee Martinez Neighborhood Association has been concerned about the potential sale of the Property to developers interested in high density developments; and WHEREAS, through extraordinary partnering efforts, a series of meetings were arranged between the City,the Lee Martinez Neighborhood Association, and Trillium Corporation, resulting in Trillium Corporation granting the Lee Martinez Neighborhood Association an option to purchase the Property; and WHEREAS, the Lee Martinez Neighborhood Association has found a developer, Wonderland Park Development Company ("Wonderland"), that is willing to build a co-housing development including 60 new units of housing and 12,000 square feet of retail/commercial space; and WHEREAS, Wonderland will purchase the Property from Trillium Corporation for the co- housing development; and WHEREAS, the City will vacate certain park easements and purchase 1.872 acres of the Property from Wonderland for $132,162; and WHEREAS,the 1.872 acres purchased by the City will be used as a gateway to Lee Martinez Park, improving access, parking and the overall beauty of the park; and WHEREAS, the following sources have been identified to fund the City's purchase of the 1.872 acres: General Fund Existing Appropriations $ 82,162 Downtown Development Authority 35,000 Lee Martinez Neighborhood Association 15,000 Total $132,162 and WHEREAS,on June 3, 1997, City Council adopted Ordinance No. 86, 1997, approving the vacation of a parkland easement on property needed by Wonderland; and WHEREAS, on June 3, 1997, City Council adopted Resolution 97-76, authorizing the City Manager to enter into an intergovernmental agreement with the Downtown Development Authority concerning the City's purchase of parkland from Wonderland; and WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the"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, do not exceed the then current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, Article V, Section 10, of the Charter authorizes the City Council to transfer by ordinance any unexpended and unencumbered amount or portion thereof from one fund or capital project to another fund or capital project,provided that the proposed transfer is from a fund or capital project in which the amount appropriated exceeds the amount needed to accomplish the purpose specified in the appropriation ordinance; and WHEREAS, staff has determined that the appropriation of unanticipated revenue in connection with the purchase of parkland near Lee Martinez Park in the amount of$50,000 will not result in total appropriations in excess of the current estimate of actual and anticipated revenues for fiscal year 1997; and WHEREAS, it is the desire of the Council to appropriate unanticipated revenue in the sum of$15,000 in funds raised by the Lee Martinez Neighborhood Association and $35,000 from the Downtown Development Authority and authorize the transfer of$82,162 from the City's General Fund to the Parkland Fund, all to be used to purchase parkland adjacent to Lee Martinez Park. 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 unanticipated revenue in the Parkland Fund received from the Lee Martinez Neighborhood Association and the Downtown Development Authority,the sum of FIFTY THOUSAND DOLLARS ($50,000) for the purchase of parkland adjacent to Lee Martinez Park. Section 2. That the unexpended appropriated amount of EIGHTY-TWO THOUSAND ONE HUNDRED SIXTY-TWO DOLLARS ($82,162) is hereby authorized for transfer from the General Fund to the Parkland Fund and appropriated therein for the purchase of parkland adjacent to Lee Martinez Park. Introduced and considered favorably on first reading and orde pu ished t ' d day of June, A.D. 1997, and to be considered for final passage on the 17 day une, 97. ayor ATTEST: City Clerk Passed and adopted on final reading this 17th day of June, A.D. 1997. e� Mayor NO Tem ATTEST: 4U" City Clerk