HomeMy WebLinkAbout100 - 06/16/1998 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND FOR THE DESIGN AND CONSTRUCTION OF ORDINANCE NO. 100, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
IN THE CAPITAL PROJECTS FUND FOR THE
DESIGN AND CONSTRUCTION OF THE CIVIC CENTER
PARKING STRUCTURE IN DOWNTOWN FORT COLLINS
WHEREAS, the City of Fort Collins and Larimer County have worked together
cooperatively,as evidenced by the Block 31 Joint Venture,to acquire and manage parking space and
governmental facilities located on Block 31; and
WHEREAS,the City and Larimer County have jointly developed a Civic Center Master Plan,
establishing a planning tool for the various uses and developments that the City and County seek to
encourage and facilitate as a civic and government center in Fort Collins; and
WHEREAS, the need for a parking structure was included as a component of the Civic
Center Master Plan as well as the City's Downtown Parking Plan, and satisfied the priorities
established by the City in demonstrating a financial commitment for the County's Justice Center
proposal, enhancing opportunities for further development of the downtown area, and supporting
various other potential projects in the downtown area; and
WHEREAS, on June 17, 1997, the City Council adopted Resolution 97-91 authorizing the
City to enter into an intergovernmental agreement with Larimer County and the Downtown
Development Authority relating to the construction and operation of a new parking structure to be
located at the southeast corner of LaPorte Avenue and Mason Street(Block 21) (the"Civic Center
Parking Structure"), contingent upon the passage of the Larimer County Justice Center ballot
measure scheduled for the November 1997 election; and
WHEREAS, the Civic Center Parking Structure is expected to be approximately 300,000
square feet in size, with approximately 900 parking spaces and 15,000 square feet of ground-floor
commercial space along Mason Street; and
WHEREAS, the design and construction cost of the Civic Center Parking Structure is
estimated at $9,900,000, with land, a project contingency, a reserve for art-in-public places, and
estimated financing costs totaling$1,300,000,for a total estimated project cost of$11,200,000;and
WHEREAS,on November 4, 1997,Larimer County residents approved a 0.20 cent sales and
use tax (excluding food, prescription drugs and other specified items) to finance the construction
of a parking structure with the City of Fort Collins and the Downtown Development Authority along
with various other County projects including the construction and equipping of a new County
courthouse in Fort Collins (the Justice Center); and
WHEREAS,on April 7, 1998,City Council adopted Resolution 98-63,authorizing the City
to enter into an intergovernmental agreement with Larimer County and the Downtown Development
Authority relating to the ownership, development, maintenance, operation and use of Block 31,
including provisions for the County to pay to the City $4,344,000 toward the development and
construction of the Civic Center Parking Structure; and
WHEREAS,the remainder of the cost for development and construction of the Civic Center
Parking Structure will be financed through the issuance of tax-exempt lease certificates of
participation which will be presented to the Council for its approval in August, 1998; and
WHEREAS,Article V, Section 9,of the Charter of the City of Fort Collins 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, it is the desire of the Council to appropriate the sum of $4,344,000 from
Larimer County upon receipt,to be used for the design and construction of the Civic Center Parking
Structure, consistent with the Civic Center Master Plan.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated, upon receipt from Larimer County, unanticipated
revenue in the Capital Projects Fund in the amount of FOUR MILLION THREE HUNDRED
FORTY-FOUR THOUSAND DOLLARS ($4,344,000) to be used for the design and construction
of the Civic Center Parking Structure.
Introduced and considered favorably on first reading and ordered published this 2nd day of
June, A.D. 1998, and to be presented for final passage on the 16thAay 6f June, A.D.8.
ayor
ATTEST:
1�alhNjr\
City Clerk
Passed and adopted on final reading this 16th day of June, A.D. 1998.
Mayor u:F. 7.,,,;
TTEST:
�LL)N\. A % .0 A�_
City Clerk