Loading...
HomeMy WebLinkAbout8772RESOLUTION NO. 8772 A RESOLUTION APPROVING AN ADDENDUM TO THE MARCH 22, 1999 AGREEMENT BETWEEN PUEBLO, A MUNICIPAL CORPORATION AND PUEBLO DEVELOPMENT FOUNDATION, A COLORADO NONPROFIT CORPORATION RELATING TO THE REMODELING OF THE BLITZ HANGAR AT PUEBLO MEMORIAL AIRPORT, AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE THE AGREEMENT, AND AUTHORIZING THE TRANSFER OF FUNDS FROM THE 1992 -2001 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR THE PURPOSE OF SUCH REMODELING, AND REPEALING SECTION 3 OF RESOLUTION NO. 8665 BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: CF(`T1r)M 1 The Addendum between Pueblo, a Municipal Corporation and Pueblo Development Foundation, a Colorado nonprofit corporation, dated August 9, 1999, a copy of which is attached hereto and incorporated herein, having been approved as to form by the City Attorney, is hereby approved. SECTION 2. The President of the City Council is authorized to execute and deliver the Addendum in the name of the City. gFrT1nN Subject to appropriate amendments to the Ground Lease and Sublease, an amount not to exceed $1,213,741.00 (including $55,000,00 to be advanced by City under its March 22, 1998 Agreement with ALM Aviation Management Labor, Inc.) is hereby authorized to be transferred from the Projects To Be Determined Account of the 1992 -2001 Sales and Use Tax Capital Improvement Projects Fund to the Pueblo Development Foundation Account for the specific purpose of remodeling the Blitz Hangar at Pueblo Memorial Airport. .qF(.T10W d The City Council does hereby find and determine that the Addendum August 9, 1999 and the expenditure of funds described therein meets and complies with the criteria and standards established by Ordinance No. 6381 and will create employment opportunities justifying the expenditure of public funds. 0 SECTION 5. Section 3 of Resolution No. 8665 is hereby repealed. INTRODUCED: August 9, 1999 BY: Cathy A. Garcia Councilmember APPROVED: 9, — (- President of the Council ATTEST: A ftyr!k ADDENDUM This Addendum entered into as of August 9, 1999 between Pueblo, a Municipal Corporation (the "City ") and Pueblo Development Foundation (the "Foundation "), WITNESSETH WHEREAS, City and Foundation entered into an Agreement dated March 22, 1999 relating to the renovation of the Blitz Hangar located at Pueblo Memorial Airport (the "Agreement "), and WHEREAS, the cost of renovating the Blitz Hangar will be $202,517.00 more than originally authorized at the time the Agreement was entered into, and WHEREAS, the City and Foundation desire the Agreement be modified to increase the amount of funds to be made available by City to Foundation for the remodeling of the Blitz Hangar, NOW THEREFORE, In consideration of the foregoing and mutual covenants contained herein, and other good and valuable consideration, the receipt of which is hereby acknowledged, City and Foundation agree as follows: Paragraph 2 of the Agreement is hereby amended to read as follows: 2. Subject to execution of the appropriate amendments to the Ground Lease and Sublease, City will make available and advance to Foundation as needed, an amount not to exceed $1,213.741.00 (including $55,000.00 to be advanced by City under its March 22, 1999 Agreement with ALM Aviation Labor Management, Inc.) from the City's 1992 -2001 Sales and Use Tax Capital Improvement Project Fund to be used solely for remodeling of the Leased Premises. No funds shall be advanced to Foundation except pursuant to approved and verified requests for payment under construction contracts which have been awarded to the lowest and best bidder after competitive bidding on the basis of the approved plans and specifications prepared by a Colorado licensed architect. 2. The Agreement as modified by paragraph 1 hereof shall remain in force and effect, binding upon and inuring to the benefit of City and Foundation. Executed in Pueblo, Colorado, the day and year first above written. PUEBLO DEVELOPMENT FOUNDATION PUEBLO NICIP 11 CORP TION 1 By A � �. - ;,- By IYZ President resident of the City Council