File #: Ord 2125    Version: 1 Name: ORDINANCE AUTHORIZING PURCHASE OF 4A WATER
Type: Ordinance Status: Passed
File created: 2/15/2017 In control: City Council
On agenda: 4/3/2017 Final action: 4/3/2017
Title: AN ORDINANCE AMENDING THE 2017 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO BY APPROPRIATING A PORTION OF THE UNENCUMBERED FUND BALANCE OF THE WATER ACQUISITION FUND IN THE AMOUNT OF $1,787,850 FOR THE PURCHASE OF 4A WATER AND AUTHORIZING THE EXPENDITURE THEREOF
Attachments: 1. Ordinance Final, 2. Presentation, 3. Resolution 2017-18
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
4/3/20171 City Council approved on second & final reading  Action details Meeting details Video Video
3/6/20171 City Council introduced by council as seated and approved on first readingPass Action details Meeting details Not available

Title

AN ORDINANCE AMENDING THE 2017 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO BY APPROPRIATING A PORTION OF THE UNENCUMBERED FUND BALANCE OF THE WATER ACQUISITION FUND IN THE AMOUNT OF $1,787,850 FOR THE PURCHASE OF 4A WATER AND AUTHORIZING THE EXPENDITURE THEREOF

 

Body

Summary and Background Information

Roger Tinklenberg presented information to council at a study session on 1/23/17, and Resolution 2017-18 was approved 2/6/17. The resolution authorized the purchase of 4A water from South Adams County Water and Sanitation District (SACWSD).  The district is selling more 4A water to raise money for the purchase of augmentation water. SACWSD wants to buy augmentation water for future availability in the eventual build-out of the community.  Without augmentation water, the 4A water cannot be made available in the future.  SACWSD wants to buy augmentation water now that a large block is available.  This is a rare opportunity.

 

The city will need another 2,299.2 ERUs in the future for additional facilities and parks.  The city has  $1.8 million available in the Water Acquisition Fee Fund, which will purchase 261 ERUs at the current discounted rate of $6,850 per ERU (minus the connection fee). 

 

Staff Responsible (Department Head):  Sheryl Carstens

Staff Member Presenting:  Sheryl Carstens

 

Financial Impact:  $1,787,850

Funding Source:  Water Acquisition Fee Fund