Title
AN ORDINANCE AMENDING THE 2016 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO, TRANSFERRING A PORTION OF THE UNENCUMBERED FUND BALANCE IN THE GENERAL FUND TO THE CIPP FUND IN THE AMOUNT OF $1,155,000, TRANSFERRING $2,600,000 FROM THE FLEET FUND TO THE CIPP FUND, TRANSFERRING $2,362,000 FROM THE IMPACT FEE FUND (ROAD AND DRAINAGE) TO THE CIPP FUND AND TRANSFERRING $2,750,000 FROM THE CIPP FUND TO THE IMPACT FEE FUND FOR A TOTAL AMOUNT OF $8,867,000 AND AUTHORIZING THE EXPENDITURE THEREOF.
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Summary and Background Information:
On August 22, 2016, City Council approved Resolution 2016-33, which authorized award of a construction contract to Flatiron Constructors, Inc. for the Highway 2 Widening Project.
The $27,421,831 project will widen Highway 2 from two lanes to four lanes between E. 72nd Avenue and 112th Avenue. Also included in this work is installation of LED street lighting, a multi-use path/trail from Quebec Street to 112th Avenue, on-street bike lanes south of Quebec Parkway, improvements to Derby Park, and a rest area adjacent to the wildlife refuge. Improved drainage and water quality facilities also will be constructed.
As noted in the Aug. 22 presentation (<https://commerce.legistar.com/LegislationDetail.aspx?ID=2808484&GUID=29EA6D1A-158B-416A-8C13-717DFF81260C)>, this re-appropriation ordinance reallocates identified funds as follows:
• Impact Fee Fund - Road Impact Fee $1,500,000
• Impact Fee Fund - Drainage Impact Fee $862,000
• General Fund/DIA Revenues - $1,155,000
• Fleet Fund Balance - $2,600,000
The ordinance returns $2,750,000 in 2016 budgeted funds to the city impact fee fund to complete the above transfers.
In addition the City Manager has the authority per charter to authorize the following transfers within the CIPP fund identified during the Aug. 22 meeting:
• Transfer $1,600,000 from CIPP/Northern Range Trail Loop to Highway 2 Project.
• Transfer $937,557 from closed-out public works projects to the Highway 2 Project.
• Transfer $1,078,846 from CIPP fund balance to Highway 2 Project, which was originally authorized in 2016 for Tower Road. In March 2016, council directed staff to use DIA revenues to fund Tower Road (approved by Ordinance 2112), allowing these funds to be redirected to Highway 2. An additional $700,000 in Solid Waste funds will be submitted as part of the 2017-2018 budget for Highway 2.
Staff Responsible (Department Head): Director of Finance Carstens
Staff Member Presenting: Director of Finance Carstens
Financial Impact: $6,117,000
Funding Source: CIPP Sources, Fleet Retained Earnings and Impact Fee Funds
Staff Recommendation: Approval of Ordinance 2116
Suggested Motion: I move to approve Ordinance 2116