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HomeMy WebLinkAbout041 - 05/03/2011 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND FOR THE BUILDING ON BASICS LINCOLN ORDINANCE NO. 041, 2011 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND FOR THE BUILDING ON BASICS LINCOLN CENTER RENOVATION PROJECT WHEREAS, on November 1, 2005, Fort Collins voters passed Ordinance No. 092, 2005 approving the"Building on Basics" ("BOB")tax for certain capital projects including the Lincoln Center Renovation Project(the "Project"); and WHEREAS,the Lincoln Center,which has been the center of Fort Collins' cultural life for 32 years, is in need of improvements; and WHEREAS, the Project will add 17,000 square feet and renovate 55,000 square feet with a focus on improving the patron experience, performer amenities, and infusing new life into the facility; and WHEREAS, the total cost of the Project, including the structural reinforcement of the performance hall walls, is estimated to be $8 million, to be paid for with $5.5 million of BOB funding, $1.86 million previously appropriated from grants,donations,and prior year reserves,and an additional $605,000 to be appropriated with this Ordinance; and WHEREAS,additional unanticipated revenue in the amount of$605,000 has been received from the Lincoln Center Support League, which is a 501(c)(3) non-profit corporation formed by private parties to raise and donate funds to the Lincoln Center to support its activities; and WHEREAS, the Lincoln Center Support League has collected $500,000 from a Bohemian Foundation Grant, $56,000 from the Griffin Family Foundation, $50,000 in the form of a contribution from Bob and Joyce Everitt, and $5,000 in donations from various other individuals; 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 has determined that the appropriation of the 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 that there is hereby appropriated for expenditure from unanticipated revenue in the Capital Projects Fund the sum of SIX HUNDRED FIVE THOUSAND DOLLARS ($605,000)for the Building on Basics - Fort Collins Lincoln Center Renovation Project. Introduced, considered favorably on first reading, and ordered published this 19th day of April, A.D. 2011, and to be presented for final passage on the 3rd day of May, A.D. 2011. G!/ or ATTEST: rOF FOR?- City Clerk ` c" °LORAoo Passed and adopted on final rea ing on the 3rd day of May, A.D. 2011. ayor ATTEST: OF FORT CO SEEAL City Clerk COCORPOo