Commerce City - File #: Ord 2032

• File #: Ord 2032
• Version: 1
• Name: Ord Amending 2014 Capital Improvements
• Type: Ordinance
• Status: Passed
• File created: 9/10/2014
• In control: City Council
• On agenda: 10/6/2014
• Final action: 10/6/2014
• Title: AN ORDINANCE AMENDING THE 2014 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO, BY APPROPRIATING A PORTION OF THE UNENCUMBERED FUND BALANCE IN THE CIPP FUND IN THE AMOUNT OF $680,000 AND APPROPRIATING THAT AMOUNT FOR THE LOAN TO THE BUFFALO HIGHLANDS METROPOLITAN DISTRICT AND TRANSFERRING A PORTION OF THE UNENCUMBERED FUND BALANCE IN THE SOLID WASTE FUND TO THE CIPP FUND IN THE AMOUNT OF $1,345,000, TO THE CIPP FUND AND APPROPRIATING THAT AMOUNT FOR THE 96TH AVENUE (NUCLA TO TOWER) PROJECT AND AUTHORIZING THE EXPENDITURE THEREOF

Date	Ver.	Action By	Action	Result
10/6/2014	1	City Council	approved on second & final reading
9/15/2014	1	City Council	introduced by council as seated and approved on first reading	Pass

Title

AN ORDINANCE AMENDING THE 2014  BUDGET OF THE CITY OF COMMERCE CITY, COLORADO, BY APPROPRIATING A PORTION OF THE UNENCUMBERED FUND BALANCE IN THE CIPP FUND IN THE AMOUNT OF $680,000 AND APPROPRIATING THAT AMOUNT FOR THE LOAN TO THE BUFFALO HIGHLANDS METROPOLITAN DISTRICT AND TRANSFERRING A PORTION OF THE UNENCUMBERED FUND BALANCE IN THE SOLID WASTE FUND TO THE CIPP FUND IN THE AMOUNT OF $1,345,000, TO THE CIPP FUND AND APPROPRIATING THAT AMOUNT FOR THE 96^TH AVENUE (NUCLA TO TOWER) PROJECT AND AUTHORIZING THE EXPENDITURE THEREOF

Body

Summary and Background Information:  

•     In 2013 the City entered into an agreement with Buffalo Highlands to contribute some money and to loan the rest for the purpose of building 96^th Avenue between Nucla Street and Tower Road.

•      On December 16, 2013 Council approved loaning an additional $680,000 to the Buffalo Highlands Metro District for the project, bringing the total loan to $6,180,000.

•      The amendment to the budget appropriating the $680,000 must occur and this money will be appropriated from the CIPP Fund unencumbered fund balance.

•      The project encountered a number of challenges in early  2014 resulting in delays and increased costs.

•      The project manager for the Buffalo Highlands Metro District has worked through the challenges and secured new cost estimates to complete the work.

•      The project will require an additional $1,345,000 to complete the project and staff proposes that the City contribute this amount to the project in exchange for Buffalo Highlands removing their request for the City to obtain project cost reimbursement to Buffalo Highlands from adjoining roperty owners.

•      The $1,345,000 is proposed to be transferred from the Solid Waste Fund to the CIPP Fund for this project.

•      Buffalo Highlands commits to completing the project by the end of this year.

Staff Responsible (Department Head):  Roger Tinklenberg

Staff Member Presenting:  Roger Tinklenberg

Financial Impact:  $1,345,000

Funding Source:  Solid Waste Fund (landfill tipping fee revenue)

Staff Recommendation: Approve the ordinance