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"