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AN ORDINANCE AMENDING THE 2016 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO BY TRANSFERRING $180,000 FROM THE IMPACT FEES FUND (PARKS) TO THE CIPP FUND TO OFFSET COSTS FOR THE FOREST DRIVE PROPERTY LOCATED AT 6023 FOREST DRIVE IN COMMERCE CITY AND AUTHORIZATION OF THE EXPENDITURE THEREOF
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Summary and Background Information: This request for transfer is to allow for the acquisition of the 6023 Forest Drive property for expansion of Veterans' Memorial Park. Many years ago, the city identified the four properties along Forest Drive as future acquisitions to add to the park/recreation center complex. Staff has made efforts to keep in contact with all property owners so that if, and when, they decide to sell their property, the city is contacted first. Two of the four residential lots have been acquired previously and incorporated into the park, and 6023 Forest Drive will be the third lot acquired.
The property has been appraised, and the agreed upon purchase price is the appraised value of $130,000. Closing is scheduled for March 24, 2016. Demolition of the house will occur this summer, and irrigation and sod will be installed this fall. Funding for the project is proposed to be provided by the park impact fee fund. Since 2005, over $260,000 in park impact fees have been collected south of 96th Avenue, which will more than cover the cost of this project. Total project cost is estimated at $180,000. A grant application has also been submitted to Adams County Open Space for this project in the amount of $90,000. A final decision on that funding will be made in April or May.
Staff Responsible (Department Head): Carolyn Keith, project / Sheryl Carstens, ordinance for transfer of funds
Staff Member Presenting: Carolyn Keith
Financial Impact: $180,000
Funding Source: Park Impact Fee -specifically collected south of 96th Ave.
Staff Recommendation: Approve Ordinance
Suggested Motion: I move to approve Ordinance 2082