HomeMy WebLinkAbout052 - 05/18/2010 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND, DOWNTOWN ALLEY ENHANCEMENT PROJECT ORDINANCE NO. 052, 2010
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE
CAPITAL PROJECTS FUND, DOWNTOWN ALLEY
ENHANCEMENT PROJECT
WHEREAS, on February 17, 2004,the Downtown Strategic Plan(the"Plan")was adopted
by the City Council by Resolution 2004-028; and
WHEREAS, the Plan supports an enhanced pedestrian environment downtown which
includes alleyways; and
WHEREAS, the Old Firehouse and Montezuma Fuller Alleys are key areas downtown in
need of substantial renovation and redevelopment to provide aesthetic improvements, facilitate
pedestrian movement and support economic growth in the downtown area; and
WHEREAS,the Downtown Development Authority("DDA")in September 2008 approved
the 2010 renovation of the Old Firehouse Alley and Montezuma Fuller Alley(together referred to
as the "Alleys"), and has proposed to provide funds for those renovations; and
WHEREAS, City staff and DDA staff have worked together to develop plans for the
improvements to the Alleys, and the DDA is working to acquire all necessary temporary and
permanent easements required for the work; and
WHEREAS, the Downtown Alley Enhancement Project, which will be constructed in City
rights-of-way during the summer of 2010, includes utility upgrades, stormwater drainage
improvements, new decorative pavers, trash receptacle enclosures, signs and lighting; and
WHEREAS, the project will be carried out pursuant to a City construction contract, which
the DDA has agreed to fund in whole; and
WHEREAS,in order for the DDA funds to be spent in support of the City contract,the funds
are being appropriated in the Downtown Alley Enhancement Capital Project in an amount not to
exceed $2,000,000; and
WHEREAS, the DDA funds for the Project will remain in the DDA's account, and will be
transferred and spent to pay contractor invoices only as they become due and payable; and
WHEREAS, Article V, Section 9, of the City 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 have determined that the appropriation of the anticipated revenue as
described herein will not cause the total amount appropriated in the Capital Projects 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 as follows:
Section 1. That there is hereby appropriated for expenditure from unanticipated revenue
in the Capital Projects Fund the sum of TWO MILLION DOLLARS ($2,000,000) from the
Downtown Development Authority to be used for the Downtown Alley Enhancement Capital
Project.
Section 2. That upon awarding the bid to the successful contractor, the City agrees to
freeze any portion of the $2,000,000 appropriation that exceeds the winning bid amount to the
contractor in order to free up the excess funds for the DDA to utilize for future projects.
Section 3. The funds appropriated hereunder will be transferred to the City from the
DDA in accordance with agreed upon approval procedures and as payments to the successful
contractor become due and payable.
Introduced,considered favorably on first reading,and ordered published this 4th day of May,
A.D. 2010, and to be presented for final passage on the 18th da ay, A.D. 2010.
Mayo
ATTEST:
'City Clerk
Passed and adopted on final reading on the 18th day of y,, A.D. 2010.
ay
ATTEST:
City Clerk