HomeMy WebLinkAbout2001 Resolution No. 073•
RESOLUTION NO. ~
SERIES OF 2001
A RESOLUTION FOR A SUPPLEMENTAL APPROPRIATION FOR THE 2001 BUDGET
OF THE CITY OF ENGLEWOOD, COLORADO .
WHEREAS, the Englewood City Council of the City of Englewood , Colorado, approved the
2001 Budget and Appropriation Ordinance on final reading on November 6, 2000; and
WHEREAS, City Council hoe discussed and met with members of the Metro Mayon
Caucus at a Study Session on August 20, 2001; and
WHEREAS, City Council discussed this issue again at the 2002 Budget Retreat held on
September 29 , 2001 ; and
WHEREAS, the Englewood City Council desires to make a $50 ,000 contribution to be
used for Mile High Housing Fund;
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD , COLORADO, THAT:
S!:i:lilm.J.. The City of Englewood 2001 Budget is hereby amended as follows :
GENERAL FUND :
Source of Fuude :
Unreserved/Undesignated Fund Balance $50,000
Use of Funds ·
City Council -Aid to Other Agencies $50,000
~-The City Manager and the Director of Financial Services are hereby authorized
to ~• oke ;he above change a to the 2001 Budget of the City of Englewood .
ADOPTED AND APPROVED this 15~ of October, 2001.
I. Lournslus A. Ellis , City Clerk for JIit City of Engl w
above is a true copy of Resolution No .,4J Series of 2
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COUNCIL COMMUNICATION
Dal• Agenda Item Subject
October 15, 2001 10 Ci Prop ose d resolution to
appropriate funds for City
Council's contribution to the
Metro Mayors Caucus
Initiated By I Staff Source
Department of Financial Serv ices Frank Gryglewicz, Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
City Council has made improving housing opportunities a priority for man y years . Council has discussed
this particular issue numerous times, and met wi th members of the Metro Mayors Caucus at a study session
on August 20, 2001. This issue was again discussed at the 2002 Budget Retreat held on September 29,
2001 .
RECOMMENDED ACTION
Staff recommends Council approve the attached resolution appropriating SS0,000 from the General Fund
undesignated/unrestricted reserv es to increase the City Council 's funds available for "aid to other
agencies ."
BACKGROurm, ANALYSIS, AND ALTERNATIVES IDENTIFIED
The City of cnglewood like a number of other metro-area municipalities received a rebate from the Denver
Metrop olitan Major League Baseball Stadium District. Representatives from the municipalities suggested
the rebat<,s should be pooled together to be used for affordable housing. After much discussion, the City
Council deci ded to provide $50,000 for this project.
City Council also discussed other alternatives and strategies regarding housing and de ci ded to investigate
other funding opportunities for Englewood-specific proje cts in 2002.
FINANCIAL IMPACT
The transfer and appropriation of 550,000 wi ll reduce the estimated ending General Fund
unr eserved/undesignated iund balance to apµroximatel y 54 ,880,000. which is 13.8 percent of esti mated
total re venues.
LIST OF ATTACHMENTS
Pr oposed resol ution