HomeMy WebLinkAbout2000 Resolution No. 077•
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RE&~,..iJTION NO. '71
SERIES OF 2000
A RESOLUTION FOR A TRANSFER AND APPROPRIATION OF FUNDS FOR THE HARD
AND SOFT COSTS OF PROVIDING THE DAVID TAYLOR DANCE THEATRE.
WHEREAS, the Engl ewood City Council approved the City of Englewood's 2000 Budget
on November 5, 1999; and
l •
WHEREAS , the City Council baa made the "c ultural component" of the redevelopment of
the City Ce~ter Englewood a priority; and
WHEREAS , the inclusion of the David Taylor Dance Theatre in the Project has been
discUBBed numerous times by City Council ; and
WHEREAS , the passage of this Resolution will transfer and appropriate funds neceuary
for David Taylor Dance Theatre to be a part of the City Center Englewood Project by
providing the financial support for adding core and shell and some tenant finial, for an
estimated 9,200 square feet to the Bally Building and David Taylor will provide financial
resources to complete the final tenant finish;
NOW, THEREFORE , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD , COLORADO , THAT :
S£i:ti!m...1 , The City of Englew ood 2000 Budget is hereby amended as follows :
GENERAL FUND :
Source of Funds :
Unre se rved/Undesignnte d Fund Balance $943,000
JJae of Funds·
Trans fers Out to Engl ewood Environmental Foundation $943,000
~-The City Manager and the Director of Financial Services are hereby authorized
to make the a bove changes to the 2000 Budget of the City of Englewood .
AD OPTED AND APPROVED this 21" of August, 2000.
~
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I, Lo .. criahia 'A. Ellis, City Clerk fot.tJle City of Englewood ,
above is a true copy of Resolution No~ Serieo of 200 ~,j)J
Loucriahia A.~
Data
August 21, 2000
Initiated By
COUNCIL COMMUNICATION
11 C iv
Subject
Resolution appropriating and
transferring $690,000 for the hard
and soft costs of providing the David
Ta)ior Dance Theatre (DTDTI and
an addittonal $275,000 for final
tenant flnllh al the Bdy building on
theC rE site .
Stiff llovrce
City of Ero~lewood, Finance and Administrative Services Frank Gryglewlcz, Director
artrnem
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
The City Council has made the 'cult\Jral component' of the redevelopment of the CityCenter Englewood a priority.
The Inclusion of the David Taylor Dance Theatre (DTDTI In the Projec t has been discussed nu1neroua 1lmes by
City Council and staff. Councll last discussed this issue at the August ·:4, 2000 Study Session and egreed to
provide the financial support detailed below.
The City Council will consider the 'Deal Sheer regarding the David Taylor Da,= Theatre on August 21, 2000.
RECOMMENDED ACTION
Staff recommends the City Council approve the attached resolution .
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
This resolution supports the DTDT being part of the CityCenter Englewood Project by providing the financial
support for adding an estimated 9,200 square feet to the Bally build ing. The DTDT will join the City In providing
financial resources to complete the final tenant finish.
Upon occupancy of the space, the City will provide the David Taylor with $72,000 in annual support. Annual
payments will continue for the next four years, but will be reduced by $12,000 each year.
The sources and uses of funds are as follows :
GENERAL FUND :
Source of Funds :
Unreserved/Undesignate Fund Balance $965,000
Use of Funds :
Transfers Out to Englewood Environmental Foundation $965,000
FINANCIAL IMPACT
The City's General Fund reserves will be reduced by $965,000 .
LIST OF ATTACHMENTS
Proposed resolution