HomeMy WebLinkAbout005 - 02/01/2011 - APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND, DOWNTOWN ALLEY ENHANCEMENT PROJECT ORDINANCE NO. 005, 2011
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE CAPITAL PROJECTS FUND,
DOWNTOWN ALLEY ENHANCEMENT PROJECT
WHEREAS, the Downtown Strategic Plan (the "Plan"), which was adopted by the City
Council by Resolution 2004-028 on February 17,2004,calls for an enhanced pedestrian environment
in the downtown area of the City; and
WHEREAS, the West Laurel to West Myrtle alleys are key areas of 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, on December 11, 2008, the Downtown Development Authority ("DDA")
approved the 2011 redevelopment of the West Laurel to West Myrtle alleys (together referred to as
the "Alleys"), and has proposed to provide funds for those renovations; and
WHEREAS, the Downtown Alley Enhancement Project, which will be constructed in City
rights-of-way during the summer of 2011, includes utility upgrades, new decorative pavers and
planters, 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 $1,200,000; 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 the 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 has 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 Project Fund the sum of ONE MILLION TWO HUNDRED THOUSAND DOLLARS
($1,200,000) from the DDA 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 $1,200,000 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 as payments to the successful contractor become due and payable.
Introduced, considered favorably on first reading, and ordered published this 18th day of
January, A.D. 2011, and to be presented for final passage on th st ay of February, A.D. 11.
Mayo
,ATTEST:
City Clerk
Passed and adopted on final reading on the 1 st day of F ry, A.D. 2011.
Ma r
ATTEST:.
City Clerk