Title
Resolution Approving Amendment to Funding Agreement with the State of Colorado, Department of Natural Resources Relating to the Colorado Natural Resources Foundation Fund
Body
Summary and Background Information: Commerce City was awarded $2.6 million in 2012 as a part of the Natural Resource Damages settlement associated with the Rocky Mountain Arsenal. Just under $1.5 million was spent to acquire the former Weaver Electric and Multi-Contractors sites. A remediation and restoration plan was created for both properties and a funding agreement was executed with the state in July of 2017 to receive the $1,160,000 remaining of the original $2,600,000 award. As the project progressed, a few unanticipated setbacks occurred, mostly associated with scheduling and testing, increasing the overall cost. The city requested, and was granted, an additional $228,523 from the settlement funds to ensure the landscape and irrigation portion of the project could be completed as designed.
Staff Responsible (Department Head): Carolyn Keith
Staff Member Presenting: Mike Brown
Financial Impact: $0 There is no additional city funding being added to the budget, just the acknowledgement of the additional Natural Resource Damage settlement funding.
Funding Source: The overall project has an existing CIP account associated with it that is funded by Natural Resource Damages settlement funds, an Adams County Open Space grant, Adams County Open Space and Lottery pass through, and park impact fee.
Staff Recommendation: Approve Resolution 2018-33 authorizing the signing of the funding agreement
Suggested Motion: I move to approve Resolution 2018-33 authorizing signing of the funding agreement