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HomeMy WebLinkAbout10157RESOLUTION NO. 10157 A RESOLUTION APPROVING A JOB CREATING CAPITAL IMPROVEMENT PROJECT RELATING TO THE DEVELOPMENT OF A PORTION OF THE PUEBLO MEMORIAL AIRPORT FOR USE BY COMPANIES EMPLOYING FULL -TIME EMPLOYEES AND CONDUCTING AERONAUTICAL ACTIVITIES AND BUSINESS AT THE PUEBLO MEMORIAL AIRPORT AND TRANSFERRING $2.7 MILLION FROM THE 1992 -2006 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR SUCH PURPOSE WHEREAS, the Pueblo Economic Development Corporation has presented to the City Council a proposal for a job creating capital improvement project relating to the development of a portion of the Pueblo Memorial Airport for use by companies employing full -time employees and conducting aeronautical activities and business at the Pueblo Memorial Airport ( "Project "), and WHEREAS, based upon Pueblo Economic Development Corporation's proposal and representations made with respect to the Project by representatives of Pueblo Economic Development Corporation, City Council is willing to approve the Project upon the terms and conditions set forth herein. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that SECTION 1 The City Council finds and determines that the Project and expenditure of $2.7 million for such job creating capital improvement project meets and complies with the criteria and standards established by Ordinance No. 6381 and will create employment opportunities justifying the expenditure of public funds. SECTION 2 Funds in the amount of $2.7 million are hereby authorized to be transferred, expended and made available for the Project out of the 1992 -2006 Sales and Use Tax Capital Improvement Projects Fund for the following purposes, subject to the approval of the City Manager: (a) $930,000.00 for extension of runways and taxiways, site work, utilities, related infrastructure, engineering and architectural services, to serve two (2) building sites located east of the Blitz Hangar at the Pueblo Municipal Airport. (b) $1,770,000.00 to construct and install two (2) fifteen thousand (15,000) square foot hangar buildings, parking area, utilities, engineering and architectural services, and related infrastructure on the two (2) building sites. SECTION 3 All engineering, architectural and construction contracts for the work described in Section 2 hereof shall be submitted to the City Council for approval. SECTION 4 The officers of the City are authorized to perform any and all acts consistent with the intent of this Resolution to effectuate the transactions described herein. INTRODUCED June 14, 2004 BY Michael Occhiato Councilperson APPROVED: &k� PRESI ENT OF CITY COUNCIL ATTESTED BY: CITY CLERK Aljc ..� /015? I E:D ° Background Paper for Proposed RESOLUTION AGENDA ITEM # 33 DATE: June 14, 2004 DEPARTMENT: Law Department TITLE A RESOLUTION APPROVING A JOB CREATING CAPITAL IMPROVEMENT PROJECT RELATING TO THE DEVELOPMENT OF A PORTION OF THE PUEBLO MEMORIAL AIRPORT FOR USE BY COMPANIES EMPLOYING FULL - TIME EMPLOYEES AND CONDUCTING AERONAUTICAL ACTIVITIES AND BUSINESS AT THE PUEBLO MEMORIAL AIRPORT AND TRANSFERRING $2.7 MILLION FROM THE 1992 -2006 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR SUCH PURPOSE ISSUE Should the City Council approve the Resolution and job creating capital improvement project described therein? RECOMMENDATION None. BACKGROUND The Pueblo Economic Development Corporation has recommended for approval by the City Council a proposal for a job creating capital improvement project relating to the development of a portion of the Pueblo Memorial Airport for use by companies employing full -time employees and conducting aeronautical activities and business at the Pueblo Memorial Airport ( "Project'). FINANCIAL IMPACT $2.7 million of the one -half cent sales tax fund forjob creating capital improvement projects will be made available for the project as follows: $930,000 for extension of runways and taxiways and $1,770,000 for construction of two (2) fifteen thousand (15,000) square foot hangar buildings.