Title
RESOLUTION APPROVING FUNDING AGREEMENT WITH THE STATE OF COLORADO, DEPARTMENT OF NATURAL RESOURCES RELATING TO THE COLORADO NATURAL RESOURCES FOUNDATION FUND
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Summary and Background Information: Commerce City was awarded $2.6 million in 2012 as a part of the Natural Resources Damages settlement associated with the Rocky Mountain Arsenal. Just under $1.5 million has been spent to acquire the former Weaver Electric and Multi-Contractors sites. Over the past three years, staff has worked with Terracon Consultants on a remediation and restoration plan for both properties. At this time, a funding agreement with the state must be executed by July 31st to receive the $1.16 million remaining of the original $2.6 million award. In addition, a second item is before Council related to this funding agreement to authorize the contract to complete the remediation work.
Staff Responsible (Department Head): Carolyn J. Keith, CPRP
Staff Member Presenting: Mike Brown
Financial Impact: $1,160,000 of funding that will be provided by the state ($2,262,915.75 total cost for the remediation contract to be awarded)
Funding Source: Natural Resources Damages settlement funds (Foundation Fund and possibly Recovery Fund), plus existing CIP account associated with the project, Adams County open space grant, Adams County Open Space/Lottery pass through, if Recovery Fund money is not received additional funds are available in existing CIP accounts that can be transferred.
Staff Recommendation: Approve resolution authorizing the execution of the state funding agreement
Suggested Motion: I move to approve Resolution 2017-55