HomeMy WebLinkAbout093 - 09/07/2010 - APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSIT SERVICES FUND FOR TRANSFER TO THE CAPITAL PROJECTS ORDINANCE NO. 093, 2010
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE TRANSIT SERVICES FUND
FOR TRANSFER TO THE CAPITAL PROJECTS FUND AND APPROPRIATING
UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND, MASON
CORRIDOR PROJECT FOR THE SOUTH TRANSIT CENTER PROJECT
WHEREAS, the Mason Corridor Project is a five-mile, north-south byway extending from
Cherry Street to just south of Harmony Road; and
WHEREAS,the South Transit Center,a component ofthe Mason Corridor Bus Rapid Transit
project, is ready for final design and construction; and
WHEREAS,the South Transit Center will be built on City-owned property located near the
intersection of Fairway Lane and Fossil Boulevard, which property was specifically purchased in
2003 to use as a transit center; and
WHEREAS, the City Council has adopted Resolution 2010-048 authorizing a contract
amendment between the City and the Colorado Department of Transportation("CDOT")for the final
design and construction of the South Transit Center;
WHEREAS,pursuant to the Senate Bill-1 amended funding contract between CDOT and the
City, CDOT is providing eighty percent of the cost of constructing the transit center($4,000,000)
and the City is providing matching funds for the remaining twenty percent of the costs; and
WHEREAS, the initial contract with CDOT for $212,000 was approved and the funds,
including the City's matching funds, were appropriated by Ordinance No. 069, 2009, and the
remaining $3,788,000 of the CDOT funds is available for appropriation; and
WHEREAS, the City's remaining matching funds of$947,000 consist of. (1) an in-kind
match of$545,475 representing the land value of the South Transit Center site; (2) intersection
improvement funds in the amount of$285,000 from the Building on Basics capital projects program,
which funds were previously appropriated for the transit center; and(3) $116,525 to be transferred
from the Transit Services Fund prior year reserves; and
WHEREAS,Article V,Section 9,of the City Charter permits the City Council to appropriate
by ordinance at any time during the fiscal year such funds for expenditure as may be available from
reserves accumulated in prior years, notwithstanding that such reserves were not previously
appropriated
WHEREAS, Article V, Section 9, of the City Charter authorizes 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 as follows:
Section 1. That there is hereby appropriated for expenditure from prior year reserves in
the Transit Services Fund,the sum of ONE HUNDRED SIXTEEN THOUSAND FIVE HUNDRED
TWENTY-FIVE DOLLARS ($116,525) to be transferred to the Capital Projects Fund, Mason
Corridor Project,and appropriated therein for the final design and construction of the South Transit
Center.
Section 2. That there is hereby appropriated from unanticipated revenue from the
Colorado Department of Transportation SB-1 funds in the Capital Projects fund the sum of THREE
MILLION SEVEN HUNDRED EIGHTY-EIGHT THOUSAND DOLLARS ($3,788,000) for
expenditure in the Capital Projects Fund, Mason Corridor Project, for the final design and
construction of the South Transit Center.
Introduced, considered favorably on first reading, and ordered published this 17th day of
August, A.D. 2010, and to be presented for final passage on the / ay of September, A.D. 2010.
Mayor
,ATTEST: _:
v �k
City Clerk
Passed and adopted on final reading on the 7th day of S e ,ber, A.D. 2010.
Mayo
TTEST:
City Clerk