Title
AN ORDINANCE AMENDING THE 2021 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO BY APPROPRIATING PORTIONS OF THE UNENCUMBERED FUND BALANCE OF THE GENERAL FUND IN THE AMOUNT OF $139,185 FOR SHARED COSTS ASSOCIATED WITH AEROTROPOLIS REGIONAL COMMITTEE MARKETING STRATEGY DEVELOPMENT - PHASE III AND AUTHORIZATION OF THE EXPENDITURE THEREOF.
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Summary and Background Information:
In 2015, voters in Denver and Adams Counties approved a ballot measure for revenue sharing and increased development opportunities on and surrounding Denver International Airport (DEN). As part of the new Agreement, a regional marketing group was formed called the Aerotropolis Regional Committee (ARC).
ARC is tasked with overseeing a regional aerotropolis marketing, branding and public relations effort aimed at attracting high quality investment and jobs in the aerotropolis influence area. Through an RFP process, ARC hired an international marketing firm, Ogilvy, to help develop this strategy. The work was divided into three phases. Work for phases I and II is completed. Phase III work is about to begin with a total cost of $1,031,000. Commerce City’s share of that amount is $139,185. This money was included in the 2020 city budget. However, project delays, largely due to the COVID-19 pandemic, pushed the final funding requests for phase III work to 2021, making a budget re-appropriation request necessary.
Staff presented the re-appropriation funding request and background information to City Council during a Study Session on February 22, 2021.
Staff Responsible (Department Head):Sheryl Carstens, Director of Finance
Staff Member Presenting: No presentation. Michelle Claymore, Economic Development Director, is available for questions.
Financial Impact: $139,185
Funding Source: General Fund
Staff Recommendation: Move to approve Ord 2325