HomeMy WebLinkAbout1997 Resolution No. 082•
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RESOLUTION NO. St:._
81111m, OF 1997
A U:SOLUTION FOR THE TRANSFER OF FUNDS FROM THE CAPITAL PROJECTS
F1liND TO THE CITY OF ENGLEWOOD ENVIRONMENTAL FOUNDATION, INC ..
WHEREAS, the City Council of the City of Englewood, Colorado by the passage of
Raolulion No. 75, Series of 1997 approved the transfer of $1.l million dollan to the Capital
~ Fund for Cinderella City site costs; and
WHEREAS, the City is using the Englewood Environmental Foundation (EEF) to
=-dinate the clean-up and other efforts relating to the redevelopment of the Cinderella
C8:y site; and
WHEREAS , the transferred funds are to be used exclusively for the items budgeted by the
REF;
NOW, THEREFORE, BF. IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
HSGLEWOOD, COLORADO, THAT:
~-The City of Englewood 1997 Bud.(ef is hereby amended as follows :
CAPITJ'J.. PROJECTS FUND:
Source of Funds:
Cinderella City Site
Fund Balance
Total sources of Funds
Use of Funds ·
Transfer to EEF-exclusively for
items budgeted in Exhibit A.
$1,100,000
t....2ZUlOO
$1,355,000
$1,355,000
Se!:lism...2 . The City Manager and the Director of Financial Services are hereby
rmthorized to make the above changes to the 1997 Budget of the City of Englewood.
ADOPTED AND APPROVED this 2nd day 0¢ 1997.
,_ "'""""' ' '"-"" "'~ '""'' "". , .. , .... ~= "' .above is a true copy of Resolution No .~eries of 1997. ~,a
Loucrishia A. Ellis
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ENGLEWOOD ENVIRONMENTAL FOUNDATION, INC.
IIUDCET
CIND!RULA CITY SIIOPPl!IIG CINT!ll
August 21, 1997
MONTGOMERY WARDS • Lease purchase
JOSLINS •
Property acquisition
Environmental evaluation
Environmental cleanup
COLORADO NATIONAL BANK· Lease purchase
RENZIOS -Lease purchase
LEGAL SERVICES
PROPERTY MANAGEMENT SERVICES (2 employees)
SERVICE CONTRACTS -
(with tenants) 3 months@ 50 ,000
(without tenants) 6 months @ 25,000
INSURANCE -Property and Liability (12 month5}
SECURITY FENCING (12 months)
CONTINGENCY
400,000
10,000
J.Q.Q22
150,000
150.000
$325,000
490,000
20,000
15,000
50,000
50,000
300 .f'~0
25,000
30 ,•JO0
___jQ.QQQ
Sl ,355,000
EXHIBIT A
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COUNCIL COMMUNICATION
Data Agenda htm Subject
September 2, 1997 11 Cl Supplemental appropriation and
transfer of funds from the Capital
Projects Fund to the ~
Environmental Foundation . Inc.
Initiated By Staff Sourai
Ctty of Englewood. Nelghbortiood and Business Bob Simpson , Director
Development
COUNCIL GOAL ANO PREVIOUS COUNCIL ACTION
The Council approved n esoletlon 75, Sertes of 1997 on July 7, 1997 . Th is Resolution transferred $1 .1 milion to
the Clpital Projects Fund for Cinderella City sfte costs . The City is using the Englewood Environmental
FoondaUon (EEF) to coordinate lhe clean-up and olher efforts relating to tr,e redevelopmenl of lhe Clndenlla
Cltysfte.
This actlon supports !he Council's goal of supporting the redevelopment and enhancement of the City 's
commercial environment.
~F.:OMMENDED ACTION
Sl wff recommends Ctty Council approve lhe attached resolulion lransferring and appropriating funds lo the
E1;giewood Envlronmenlal Foundation . A budget is attached regard ing lhe proposed uses of the lransferred and
appropriated funds .
'(he sources and uses of lhese funds are :
CAPITAL PROJECTS FUND :
source of Funds·
Cinderella City Site
Fund Balance
Total Sources of Funds
Uses of Funds :
Transfer To EEF {see attached budget)
FINANCIAL IMPACT
$1,100,000
$255 000
$1 ,355 ,000
$1 ,355 ,000
This appropriation and transfer will reduce the Capital Projects Fund balance for Cinderella City by $1 ,100,000
and !he unreserved fund balance by $255,000.
LIST OF ATTACHMENTS
Proposed resolution
EEF Proposed Budget
Printed on Reeyded Paper,<i,