HomeMy WebLinkAbout132 - 09/07/2004 - AUTHORIZING THE TRANSFER OF APPROPRIATIONS FROM THE STREET OVERSIZING FUND TO THE CAPITAL PROJECT FU ORDINANCE NO. 132, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE TRANSFER OF APPROPRIATIONS FROM THE STREET
OVERSIZING FUND TO THE CAPITAL PROJECT FUND - TIMBERLINE ROAD
IMPROVEMENTS PROJECT FOR THE ENGINEERING DESIGN OF TIMBERLINE ROAD
FROM DRAKE ROAD TO PROSPECT ROAD
WHEREAS,a section of Timberline Road from Drake Road to Prospect Road is well below
the City's level of service requirements, with almost all legs and turn movements failing during the
morning and afternoon peak rush hours; and
WHEREAS, City staff has been working with the developers of adjacent parcels (the
"Developers") with regard to the construction of improvements to the above identified section of
Timberline Road ("Project"), which the City is unable to fund at this point in time, and the
Developers have elected to privately fund those improvements; and
WHEREAS,the Developers have petitioned the City Council, pursuant to the provisions of
Sec.22-35 of the City Code,to create a special improvement district(the"SID")as a mechanism for
repaying the cost of the improvements from assessments levied by the City against benefitted
properties in the SID; and
WHEREAS, the City Council approved a resolution on November 4, 2003 accepting the
petition of the Developers to create the SID and directed City staff to prepare plans and cost
estimates; and
WHEREAS, the SID would be financed privately by the Developers, who have contributed
$100,000 for the engineering design of Timberline Road From Prospect Road to Drake Road; and
WHEREAS, the City wishes to complete the street oversizing portion of the design, the
geotechnical reports and environmental studies of the Project and has budgeted for such work in the
Street Oversizing Fund; and
WHEREAS, Article V, Section 10, of the Charter of the City of Fort Collins authorizes the
City Council to transfer by ordinance any unexpended and unencumbered amount or portion thereof
from one fund or capital account to another fund or capital project, provided that the purpose for
which the transferred funds are to be expended remains unchanged; and
WHEREAS, it is the desire of the City Council to authorize the transfer of existing
appropriations of ONE HUNDRED SIXTY TWO THOUSAND FIFTY DOLLARS ($162,050)in
the Street Oversizing Fund to the Capital Projects Fund-Timberline Road Improvements Project to
be used for the street oversizing portion of the design, the geotechnical reports and environmental
studies in the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the unexpended appropriated amount of ONE HUNDRED SIXTY TWO
THOUSAND FIFTY DOLLARS ($162,050) is hereby authorized for transfer from the Street
Oversizing Fund to the Capital Projects Fund-Timberline Road Improvements Project to be used
for the street oversizing portion of the design,the geotechnical reports and environmental studies in
the Project.
Introduced, considered favorably on first reading, and ordered published this 17th day of
August, A.D. 2004, and to be presented for final passage on the 7th day of September,A.D. 2004.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 7th day of September, A.D. 2004.
Mayor
ATTEST:
City Clerk