HomeMy WebLinkAbout010 - 02/04/2014 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND FOR THE EXTERIOR PRESERVATION AND RECONSTRUC ORDINANCE NO. 010, 2014
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND
FOR THE EXTERIOR PRESERVATION AND RECONSTRUCTION
OF THE AVERY BUILDING AT THE INTERSECTION OF COLLEGE AND
MOUNTAIN AVENUES
WHEREAS, the Avery Building Restoration and Reconstruction project (the "Project")
includes the exterior restoration and rehabilitation of the original brick, stone masonry, wood,
windows, and storefronts along College Avenue; and
WHEREAS, the Project has been an ongoing, high visibility project that has provided
both direct and indirect economic benefits to the community; and
WHEREAS, the City's Community Development and Neighborhood Services staff is
responsible for administering all grant/cash match funds on behalf of the property owner, but to
date there has been no direct financial obligation by the City-, and
WHEREAS, between 2011 and 2012, the City appropriated $650,270 in combined grant
funding from the Colorado Historical Society's State Historical Fund and private fund
contributions by the property owner, Avery Building LLC, for the Avery Building Restoration
project; and
WHEREAS, total Project costs are $670,109, which requires another $19,839 to be
appropriated in order to fully pay for the work associated with the Project-, and
WHEREAS, the additional funds to cover the final project costs have been provided by .
the property owner and deposited in the General Fund; 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 $19,839 in additional
Project funding will not cause thetotal amount appropriated in the General Fund to exceed the
current estimate of actual and anticipated revenues to be received during the fiscal year.
NOW, THEREFORE, BE 1T ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in
the General Fund the sum of NINETEEN THOUSAND EIGHT HUNDRED THIRTY NINE
DOLLARS ($19,839) for the exterior preservation and reconstruction of the Avery Building.
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Introduced, considered favorably on first reading; and ordered published this 21st day of
January, A.D. 2014, and to be presented for final passage on the 4th day of February, A.D. 2014.
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Passed and adopted on final reading on the 4th day of February, A.D. 2014.
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