Loading...
HomeMy WebLinkAbout8513RESOLUTION NO. 8513 A RESOLUTION APPROVING AN AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND THE URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO RELATING TO A JOB CREATING CAPITAL IMPROVEMENT PROJECT AND AUTHORIZING EXPENDITURE OF $267,675 THEREFOR FROM THE 1992 -2001 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND WHEREAS, the Urban Renewal Authority of Pueblo, Colorado (the "Authority ") has made application for funds from the 1992 -2001 Sales and Use Tax Capital Improvement Projects Fund for completion of improvements to the civic center and hotel complex as part of the Amended Phase One Urban Renewal Project, and WHEREAS, the City Council is willing to approve such application for funds upon the terms and conditions set forth herein and in the attached Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1 The City Council does hereby find and determine that the Urban Renewal Authority of Pueblo, Colorado's application for funds meets and complies with the criteria and standards established by Ordinance No. 5742 and will create employment opportunities justifying the expenditure of public funds. SECTION 2 The Agreement dated as of September 14, 1998 between Pueblo, a municipal corporation and the Urban Renewal Authority of Pueblo, Colorado, attached hereto, having been approved as to form by the City Attorney, is hereby approved. The President of the City Council is authorized to execute and deliver the Agreement in the name of the City and the City Clerk is authorized and directed to affix the seal of the City thereto and attest same. SECTION 3 Funds in an amount not to exceed $267,675 are hereby authorized to be expended and made available to the Pueblo Urban Renewal Authority of Pueblo, Colorado out of the 1992 -2001 Sales and Use Tax Capital Improvement Projects Fund for the sole and only purpose of reimbursing it for the cost of improvements described in the attached Agreement. The funds hereby authorized to be expended shall be released and paid by the Director of Finance to or for the benefit of the Pueblo Urban Renewal Authority of Pueblo, Colorado after receipt by the Director of Finance of written requests for payment required by paragraph 1 of the Agreement. SECTION 4 This Resolution shall become effective upon final passage. ATTEST: City Cle INTRODUCED: September 14, 1998 By Al Gurule Councilperson APPROVED: President of th ity Col il F:\ FILES\ CITY\ECONDEV\PEDCO\RESOLUTN.WPD -2 AGREEMENT THIS AGREEMENT entered into as of September 14, 1998 between the City of Pueblo, a municipal corporation (the "City ") and the Urban Renewal Authority of Pueblo, Colorado, a public body corporate and politic duly organized and existing as an urban renewal authority under the laws of the State of Colorado (the "Authority "). WHEREAS, pursuant to Section 31 -25 -105, C.R.S, the Authority has the power and authority to apply for and accept advances from the City, and WHEREAS, Authority has applied for an advance of $267,675.00 from the City to complete certain portions of the civic center and hotel complex as part of amended Phase One Urban Renewal Project (the "Project "), and WHEREAS, the Project is a job- creating capital improvement project, and WHEREAS, the City is authorized to make available to Authority in the form of an advance in furtherance of the Project funds from the 1992 -2001 Sales and Use Tax Capital Improvement Project Funds. NOW, THEREFORE, in consideration of the foregoing and mutual covenants contained herein, City and Authority agree as follows: 1. City agrees, subject to reimbursement by the Authority, to advance to Authority a sum not to exceed $267,675.00 ( "City Funds ") for the sole and only purpose of assisting the Authority in paying the cost of the improvements described in the attached Exhibit "A ". City Funds will be advanced to Authority upon receipt by the City's Director of Finance of a written request for payment certified by an officer of the Authority that the amounts included in the request for payment are for the actual cost of the improvements, including invoices and billings therefor. 2. Authority shall, out of its annual net income, budget and appropriate as operation and maintenance expenses sufficient moneys to reimburse the City Funds to City on or before December. 31, 2003. If the City Funds have not been reimbursed to City in full by December 31, 2003, the balance of City Funds shall become due and payable in full. City may take such actions lawfully permitted to enforce this Agreement and the reimbursement of City Funds. 3. Neither this Agreement nor any provision hereof shall be construed to grant to City a claim against the Trust Estate created by the Indenture of Trust between the Authority and the Bank of Cherry Creek, N.A., as Trustee dated August 15, 1995. 4. If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable, this Agreement shall be deemed terminated and Authority shall immediately reimburse to City all City Funds advanced to Authority under this Agreement. 5. This Agreement incorporates the entire understanding of the parties with respect to the subject matter hereof and may not be amended or modified except by instrument signed by both parties. 6. This Agreement shall inure to the benefit of the parties and their respective successors and assigns, provided that Foundation may not assign this Agreement without the prior written consent of the City. Executed at Pueblo, Colorado and day and year first above written. URBAN RENEWAL AUTHORITY OF PUEBLO, A MUNICIPAL CORPORATION PUEBLO, COLORADO Y By Chairm President of the y Co ncil Attest: /X ` Attest: S retary City Cl Approved as to form: City Attorney -2- URBAN RENEWAL AUTHORITY #1 City Hall Place Pueblo,. Co 81003 MEMORANDUM TO: Tony Fortino, Chairman, Urban Renewal Authority FROM: Gary Trujillo, Vice - Chairman, Urban Renewal Authority rf- DATE: August 24, 1998 As per our most recent discussion with City Council regarding the release of funds for additional work at the Pueblo Convention Center, the following is a list of proposed improvements: 1. Asphalt paving, grading and base course for the Marriott Hotel Parking $ 45,000.00 2. Jerman Excavating for saw cutting and removal of asphalt for concrete walkways at the Marriott Hotel Parking $ 1,225.00 3. Byerly & Cosyleon Concrete for concrete decorative walkways at the Marriott Hotel Parking $ 6,500.00 4. Centennial Paving for asphalt paving, grading, base course and concrete an at the alley behind the Convention Center $ 25,000 5. Masonry wall to complete decorative wall at Santa Fe to screen parking lot and an additional wall at the parking lot at l' at Santa Fe northwest cornet to complete gateway at 1" and Santa Fe intersection $ 53,000.00 6. Solid Earth Landscaping for additional landscaping-for the entire Convention Center site $ 7,000.00 7. New drapery in the Pre - function lounge not previously installed $ 4,500.00 8. New Concepts Design for custom wood travel kiosk, telephone counters, ATM cabinet and pedestals for directional maps and information flyers $ 10,000.00 9. Overlay parking lot at I" and Santa Fe for additional parking (includes concrete island removal) $ 12,500.00 10. Remove orphan gas tank and associated engineering and compliance fees $ 11,000.00 11. Exterior decorative trash containers, event plaza furniture and tent for 14,750.00 daytime special events. $ 12. Art budget for permanent paintings and sculpture for Convention Center interior corridors and lounge $ 50,000.00 13. Finish media, data and communication networking $ 11,000.00 14. Brick entry sign with lighting at Main St. entrance to parking lot $ 16,200.00 TOTAL COST $ $267,675.00 EXHIBIT "A"