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HomeMy WebLinkAbout10356RESOLUTION NO. 10356 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, TRANSFERRING $3.2 MILLION FROM THE 1992 -2006 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR SUCH PURPOSE AND REPEALING RESOLUTION NO. 10157 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 $3.2 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 $3.2 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) $2.2 million for extension of runways and taxiways, site work, utilities, related infrastructure, engineering and architectural services, to serve four (4) building sites located east of the Blitz Hangar at the Pueblo Municipal Airport. (b) $1 million to construct one (1) fifteen thousand (15,000) square foot shell hangar building, parking area, utilities, engineering and architectural services, and related infrastructure on one (1) building site. 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. SECTION 5 Resolution No. 10157 is hereby repealed. INTRODUCED March 28, 2005 BY Michael Occhiato Councilperson APPROVED: PIRESMENT 9F CITY CPWCIL ATTESTED BY: CITY CLERK Gib 1 03510 D = E 0 D Background Paper for Proposed RESOLUTION AGENDA ITEM # o DATE: March 28, 2005 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, TRANSFERRING $3.2 MILLION FROM THE 1992 -2006 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR SUCH PURPOSE, AND REPEALING RESOLUTION NO. 10157 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 bythe 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 $3.2 million of the one -half cent sales tax fund for job creating capital improvement projects will be made available for the project as follows: $2.2 million for extension of runways and taxiways site work, utilities, related infrastructure, and engineering and professional services, and $1 million for construction of one (1) fifteen thousand (15,000) square foot shell hangar building.