HomeMy WebLinkAbout148 - 10/05/2004 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND FOR A PERPETUAL EASEMENT AT 259 SOUTH COLLEG ORDINANCE NO. 148, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND FOR
A PERPETUAL EASEMENT AT 259 SOUTH COLLEGE AVENUE,
THE ARMSTRONG HOTEL
WHEREAS, the City of Fort Collins has been awarded a grant in the amount of$171,000
from the Colorado Historical Society's State Historical Fund to rehabilitate 259 South College
Avenue, also known as the Armstrong Hotel and the Mountain Empire Hotel; and
WHEREAS,the building's owners have provided matching funds in the amount of$339,000;
and
WHEREAS, grant funds in the amount of$171,000 and the grant matching funds in the
amount of$339,000 were appropriated in 2003 in Ordinance No. 107; and
WHEREAS, the building's owners, pursuant to the grant, are now required to grant a
perpetual easement which will be held by the Colorado Historical Foundation; and
WHEREAS,the Colorado Historical Society's State Historical Fund provided an additional
grant award of$26,500 for the purpose of paying for the perpetual easement and the amended grant
now totals $197,500; and
WHEREAS,the City will administer the grant and be responsible for the distribution of the
grant, cash match funds, and grant for the perpetual easement; 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, 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 the additional grant revenue
from the Colorado Historical Society, as described herein, will not cause the total amount
appropriated in the General Fund to exceed the current estimate of actual and anticipated revenues
to be received in that fund during any fiscal year.
NOW THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that, upon receipt, there is hereby appropriated from unanticipated grant revenue in the
General Fund the sum of TWENTY-SIX THOUSAND FIVE HUNDRED DOLLARS ($26,500),
for expenditure in the General Fund for a Perpetual Easement at 259 South College Avenue.
Introduced and considered favorably on first reading and ordered published his 21 st day of
September,A.D. 2004, and to be presented for final passage on the 5th o ober, A.D. 20
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 5th day of October, A.D. 2004.
Mayor
ATTEST:
City Clerk