Title
AN ORDINANCE AMENDING THE 2024 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO, BY TRANSFERRING $1,100,000 FROM THE UNENCUMBERED FUND BALANCE IN THE IMPACT FEES FUND TO THE CAPITAL EXPENDITURES FUND FOR COSTS ASSOCIATED WITH THE BUFFALO HIGHLANDS OASIS PROJECT AND AUTHORIZATION OF THE EXPENDITURES THEREOF.
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Summary and Background Information:
Oasis Park, which is in the process of being renamed Black Footed Ferret Park, is a 2-acre park located at 17070 E. 95th Avenue. A request for design was released during the third quarter of 2022 and a contract was signed in the fourth quarter of 2022 with Galloway & Company Inc. Design concepts were created and public input was received via public meetings in December 2022 and in March and May 2023.
The new park includes a playground, open grass area, inground slide, shade structure, restroom, and sidewalk connections to Second Creek Open Space trial corridor.
A public bid process was completed, and Colorado Designscapes Inc. has been chosen as the contractor for the project. $2,000,000 is currently budgeted for this project and the total cost of the project is $3,100,000. Sufficient Parks Impact Fees Fund Balance exists to cover the budget shortfall and staff is proposing transferring $1,100,000 from Unencumbered Fund Balance from the Impact Fees Fun to the Capital Expenditures Fund to for use on this project.
Staff Responsible (Department Head): Chad Redin, Parks, Recreation & Golf Director
Staff Member Presenting: Chad Redin, Parks, Recreation & Golf Director
Financial Impact:
Impact Fees Fund: $1,100,000
Funding Source: Parks Impact Fees Fund Unencumbered Fund Balance
Staff Recommendation: Approve Ordinance 2588
Suggested Motion: Motion to introduce by council as seated and approve Ordinance 2588