HomeMy WebLinkAbout1998 Resolution No. 081•• RESOLUTION NO . 11_
SERIES OF 1998
A RESOLUTION FOR THE APPROPIUAT10N AND TRANSFER OF FUNDS FROM THE
1998 BUDGET TO THE ENGLEWOOD ENVIRONMENTAL FOUNDATION FOR AN
ACCELERATED CINDERELLA CITY Slfl PREPARATION PLAN .
WHEREAS , the City Council of the CityaiEnciewood, Colorado apprond the City of
Englewood'• 1998 Budget on October 20, 1997: and
WHEREAS , the pa~ge of thia RellOiUD:m will appropriate the funds needed for the
acce lerated. Cinderella City site preparation plan: and
WHEREAS , use of such funds shall be limited to additional environmental remedia tion ,
demolition, fill material and construction al !Dea North;
NOW, THEREFORE . BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
ENGLEWOOD, COLORADO, THAT:
~-The City of Englewood 1998 Badcet ia hereby amended as follows:
GENERALFUND:
$Qun;e of Fuode :
Unreaerved/Undesignated Fund Balmce
t Jses of Fuodo·
Transfers out to Capital Projects P',.md
PUBLIC IMPROVEMENT FUND :
Source nf Funds:
City Hall Storage
( Jse of Funds:
Transfers out to Ca pital Projects Pund
CAPITAL PROJECTS FUND :
-
Source of Funds :
1998 Cap ital Projects
Transfers in from Public lmproveo e nt Fund
Transfe rs in from General Fund
Total Sources of Funds
l Js ca of Funds ·
Transfe r to EEF fo r Cinderella Cu-y the accele rated
site preparatio n. Use of such funds shall be
limited to ndditionnl environmeru:al remediat1'ln ,
demolition , fill matenal and cons<rucllon of Inca North.
$5 ,777 ,500
S5 ,777 ,500
S 40,000
S 40 ,000
S 67 0,500
S 40,000
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$6.•38,000
$6 ,488 ,000
~-The City Manapr and the Diredor of Pinancial Sorvicu are bonb1 a1111,onad
to make \.. aboff cbance• to the 1998 Budpt of the City ofBnpewood.
ADOPTED AND APPROVED thil 20th of July, 1998.
Ji.~~ ~ w~tf. (//4·
Loucriabia A. Ellis , City Clerk
I, Loucriabia A. Ellis, City Clerk for,ljle City of Englewood,
above is a irue a,py of Resolution No .!!, Seriea of 1998.
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COUNCIL COMMUNICATION
Date Agenda Item Subject Supplemental
appropriation and tranaf,r of
funds from the Capital Projects
Fund and General Fund to the
Englewood Environmental
July 20 , 1998 11 ci Foundation, Inc .
Initiated By I Staff Source
Financi~ Services Frank Gryglewicz, Director of Financial Services
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
City Council has expressed an interest in proceeding with an accelerated Cinderella City site
preparation plan . The aooalerated plan includes additional environmental remediation, demolition, fill
material, and construction of Inca NN!h. City Council discussed the plan at a study session on June 1,
1998. The value of the p,operty alter demolition of the property is estimated between $10.5 and $12.5
million.
RECOMMENDED ACTION
Staff recommends City Council app rove the attached resolution transferring and appropriating funds to
the Englewood Environmental Foundation .
The sources and uses oi these funds arc :
SOURCE OF FUNDS :
GENERAL FUND:
Unreserved/Undesignated Fu nd Ba lance $5 ,777 ,500
USE OF FUNDS:
Transfers out to Cap ital Projects Fund ss,m,soo
SOURCE OF FUNDS:
PUBLIC IMPROVEMENT RJND :
City Hall Storage $40,000
USE OF FUNDS :
Transfers out to Cap ita l ProIects Fund $40,000
SOURCE OF FUNDS :
CAPITAL PROJECTS FUN D:
1998 Capita l Proj ects (See Anachment) $670,500
Transfers in from Public Imp rovement Fund $40 ,000
Transfers in frJ m General Fun d ~5,777,500
Total So urc es of Funds $6.488 ,000
USE OF FUNDS: I 1 1
Tran sf er to EEF for Cinderella City site preparation
The total uses of funds are currently estimated as follows :
Additi onal environmental :
FIii Material :
Demolition :
Inca Nort',1:
Additional Holding Costs
Total Use of Funds :
11'
$8,488,IJlllD
$511t;Oi!!10
$1,500,000
$4,000,000
$350,000
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$6 .488,t!llOO
The additiona l env ironmental costs include $200,000 for bulbs and ballastS ; S186 ,000 for Joslln's base
bid , and $232 ,000 for the change order due to add itional envlronm entall clean up .
The City anti cipates the Econom ic Development Authority (EDA) and Jne Regional Transportation
District •:RTD) will join the City of Englewood in providing funding for ._-project.
FINANCIAL IMPACT
This appropriation and transfer will temporarily reduce Iha General Find unreservad/undes ignated
fund balanc 3 by ss,m.soo . These funds will be reimbursed flOm pnxeeos of land sales and/or
proceeds fro m a planned certificate of participation . The funds transferred from the Public
lmprovem m t ($40 ,000) and Capital Projects ($670,500) Funds were cmgonaDy :,udgeted for projects at
the existin~J City Hall. These funds are ava ilable for use at the Cinderella City site, si nce the existing •
City Hall will be vacated when the n9W City Hall is completed .
LIST OF ATTACHMENTS
Prop osed resoluti on
List of City Hall pro jects
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• • l'llc tiloWUll an Ory Hall. Library, 111d Munic:ipol Cowu :
Capa ..-<OUDCil. Court. Fiaanclal Scrvica :
CilyHall lmaiar S.U,.
CllJ Hall ElcrUic:al u.,.,..i.
Clly Hall Boiler~
Clly Hall Ro lfD!ain Sy11em
Clly Hall ElecaricaJ Swlleb Gear
Clly Hall Rcmodd
rorr
$12,000
1,000
50,000
22,500
23,000
55,000
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$670,500