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HomeMy WebLinkAbout026 - 03/02/2004 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND TIMBERLINE ROAD IMPROVEMENTS PROJEC ORDINANCE NO. 026, 2004 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND - TIMBERLINE ROAD IMPROVEMENTS PROJECT TO BE USED FOR THE ENGINEERING DESIGN OF TIMBERLINE ROAD FROM PROSPECT ROAD TO DRAKE ROAD WHEREAS,traffic congestion at the intersection of Timberline Road and Prospect Road(the "Intersection") is well below the City's level of service requirements with almost all legs and turn movements failing during the morning and evening peak rush hours; and WHEREAS,improvements for the Intersection are not a part of the any of the City's current capital improvement programs,and funding for these improvements has not yet been identified;and WHEREAS, Section 3.7.3.(D)(1)(b) of the City's Land Use Code requires that all developments shall meet or exceed the transportation level of service standards contained in Part H of the City of Fort Collins Multi-modal Transportation Level of Service Manual for motor vehicles, bicycles, and pedestrians; and WHEREAS, prior to any new development impacting the Intersection any level of service deficiencies at the Intersection must be corrected; and WHEREAS,currently,the development of two large parcels within a one-mile radius of the Intersection is on hold due to the inadequate levels of service at the Intersection; and WHEREAS, the developers of the aforementioned parcels (the James Company and the Cumberland Group) have proposed privately funding the improvements needed to meet the minimum levels of services at the Intersection necessary to allow development of their parcels; and WHEREAS, the City received a petition from the James Company requesting that the Council initiate proceedings for the creation of a special improvement district which would spread the cost of the needed improvements among benefitted properties in the vicinity of the Intersection; and WHEREAS, on November 4, 2003,City Council adopted Resolution 2003-122,Accepting a Property Owner Petition Regarding the Initiation of a Special Improvement District, Stating the Need For, the Nature Of, and the Location of the Improvements to Be Made, Describing the Area to Be Assessed for the Same,and Directing the Director for Community Planning and Environmental Services to Prepare and Present to the City Council the Necessary Information for the Formation of Said District; and WHEREAS, the City has received a total of$100,000, from the James Company and the Cumberland Group to be used to prepare plans,estimate of costs,and maps of the proposed special improvement district in order to complete the engineering design of improvements along Timberline Road; and WHEREAS, upon completion of the engineering design in January 2005 City Council may be asked to consider adoption of a resolution accepting the completed plans, approving an assessment method, holding a public hearing, and creating a special improvement district by ordinance adopting the creation of a special improvement district; and WHEREAS, right of way acquisition is scheduled to be completed by October 2005, with interim improvements to be constructed at an estimated cost of$2.3 million, in order to bring the Intersection into compliance with minimal levels of service by the Fall of 2006; 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 does not exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, City staff has determined that the appropriation of funds from unanticipated revenue as described herein will not cause the total amount appropriated in the Capital Projects Fund - Timberline Road Improvements Capital Project to exceed the current estimate of actual and anticipated revenues to be received during any fiscal year; and WHEREAS,it is the desire of the Council to appropriate the sum of$100,000,representing contributions from two developers proposing development projects along Timberline Road, north of Drake Road,in the Capital Projects Fund-Timberline Road Improvements Capital Project to be used for the Engineering design of Timberline Road from Prospect Road to Drake Road. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in the Capital Projects Fund-Timberline Road Improvements capital project,the sum of ONE HUNDRED THOUSAND DOLLARS ($100,000), in the form of contributions from two developers proposing development projects along Timberline Road, north of Drake Road,to be used for the Engineering design of Timberline Road from Prospect Road to Drake Road. Introduced and considered favorably on first reading and ordered published this 17th day of February, A.D. 2004, and to be presented for final passage on the 2nd da f March, A.D. 2004. Mayor ATTEST: (� —==' � . "n a — City Clerk Passed and adopted on final reading this 2nd day of March, A.D. 2004. ayor ATTEST: City Clerk