HomeMy WebLinkAbout2014 Resolution No. 036l . ..
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RESOLUTION NO.~
SERlES OF 2014
A RESOLUTION APPROPRIATING FUNDS FROM THE SOUTH BROADWAY
ENGLEWOOD BUSINESS IMPROVEMENT DISTRICT.
WHEREAS, the City of Englewood is required by City Charter to ensure that expenditures do
not exceed legally adopted appropriations; and
WHEREAS, the 2014 Budget was submitted and approved by the Englewood City Council on
October 21, 2013; and
WHEREAS, the Englewood City Council authorized the formation of the South Broadway
Englewood Business Improvement District (SBEBID) with the passage of Ordinance No. 29,
Series of 2006; and
WHEREAS, a petition to dissolve the SBEBID was presented to the City by persons owning
property in the District representing 58.2 percent of the acreage and 57.8 percent of the assessed
value of property in the SBEBID; and
WHEREAS, the Englewood City Council dissolved the SBEBID with the passage of
Ordinance No. 29, Series of2013; and
WHEREAS, the remaining cash assets held by the SBEBID were transferred to the City on
August IS, 2013 and additional funds have been received from collections made by Arapahoe
County; and
WHEREAS, only prior obligations and holiday lighting have been paid from the SBEBID
funds; and
WHEREAS, the passage of this resolution appropriates the balance of the SBEBID funds for
distribution to the SBEBID property owners; and
WHEREAS, after appropriating the funds, $63,385 will be available for distribution to
property owners.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, AS FOLLOWS:
Section 1. The Budget for the General Fund of the City of Englewood, Colorado, is hereby
amended for the year 2014, as follows:
DONORS FUND:
SOURCE OF FUNDS:
SBEBID Unassigned Fund Balance
USE OF FUNDS :
Return of Seed Money to City of Englewood
Broadway Holiday Lighting for 2014
Flower Pot and Bike Rack Maintenance for 2014/2015
$78,000
$30,000
$20,000
$28,000
Total Use of Funds $78,000
Section 2. The City Manager and the Director of Finance and Administrative Services are
hereby authorized to make the above changes to the 2014 Budget for the City of Englewood.
Section 3. After appropriating the funds, $63,385 will be available for distribution to property
owners.
ADOPTED AND APPROVED this 3rd day of February, 2014.
ATTEST: ¾~~
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L Loucrishia A. Ellis, City Clerk for~ City of Englewood, Colorado, hereby certify the
above is a lrue copy of Resolution No.~ Series~..
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V Loucrishia A. Ellis, City Clerk
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COUNCIL COMMUNICATION
Date: Agenda Item: Subject:
February 3, 2014 12 bi Resolution appropriating funds held by the City of
Englewood from the South Broadway Englewood
Business Improvement District (SBEBID)
Initiated By: Staff Source:
Finance and Administrative Services Department Frank Gryglewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
City Council supported the promotion of the Broadway business district for many years.
At the January 21, 2014 Study Session, City Council discussed how to best use the remaining SBEBID funds
held by the City of Englewood since August 15, 2013. Council directed staff to prepare a resolution
appropriating funds for use on South Broadway. The remainder of the funds will be disbursed to property
owners as soon as possible.
RECOMMENDED ACTION
Staff recommends City Council approve the attached resolution for a supplemental appropriation to the
2014 Budget for the following:
SOURCES AND USES OF FUNDS:
DONORS FUND;
SOURCE OF FUNDS:
SBEBID Unassigned Fund Balance
USE OF FUNDS:
Return of Seed Money to City of Englewood
South Broadway Holiday Lighting 2014
Flower Pot and Bike Rack Maintenance 2014/2015
Total Use of Funds
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
$78,000
$30,000
$20,000
$28,000
$78,000
The South Broadway Englewood Business Improvement District (SBEBID) was formed with the passage of
Ordinance 29, Series of 2006. A petition to dissolve the SBEBID was presented to the City Clerk by persons
owning property in the District The petitioners comprised 58.2 percent of the acreage and 57.8 percent of
the assessed value of property in the District
On March 18, 2013 a public hearing was held and continued until June 17, 2013 at which time the
petitioners and others provided testimony regarding the dissolution. City Council dissolved the SBEBID with
the passage of Ordinance 29, Series of 2013 on July 17, 2013.
The remaining cash assets held by the SBEBID were transferred to the City of Englewood on August 15, 2013
and additional funds have been received from collections made by Arapahoe County. Only expenditures
from prior obligations and holiday lighting have been paid from the SBEBlD funds.
The balance of the SBEBID funds as of January 22, 2014 is $141,385; after appropriating the funds
mentioned above, $63,385 will be available for distribution to property owners.
The Finance and Administrative Services Department is currently reconciling the funds available to determine
the amount each property owner is due. Staff will provide City Council with a breakdown of the
disbursements prior to making payment
FINANCIAL IMPACT
The funds available for distribution will be reduced by $78,000. These funds will be used for South
Broadway improvements, lighting, and maintenance.
LIST OF ATTACHMENTS
Proposed Resolution
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