HomeMy WebLinkAbout10642RESOLUTION NO. 10642
A RESOLUTION OF THE CITY OF PUEBLO DECLINING TO ACT AS A REVIEWING ENTITY FOR
THE STATE INCOME TAX CREDIT PROGRAM FOR QUALIFYING REHABILITATION PROJECTS
UNDER COLORADO HOUSE BILL 90 -1033 (C.R.S. §39 -22 -514, AS AMENDED)
WHEREAS, Colorado House Bill 90 -1033 (C.R.S. § 39 -22 -514, as amended) was signed unto
law April 20,1990, establishing tax credits for historic structures throughout the state; and
WHEREAS, the City of Pueblo, as a Certified Local Government, pursuant to the provisions of
16 U.S.C. § 470 (a) (C) (1), as amended, is eligible to review such rehabilitation tax credit projects as
a reviewing entity as defined by C.R.S. § 39 -22 -514 (12) (1); and
WHEREAS, the provisions of C.R.S. § 39 -22 -514 (10) (a) require that each Certified Local
Government adopt annually a resolution stating whether such Certified Local Government will act as a
reviewing entity during the following twelve (12) months; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
The City of Pueblo hereby declines to act as a reviewing entity for the purposes of
subsections (3) and (6) of C.R.S. § 39 -22 -514 for calendar year 2006. The City will not maintain a
"preservation fund" as required by C.R.S. § 39 -22 -514 (11) (a), for use in administering the program
and to provide information and education to the community within the context of historic preservation.
INTRODUCED February 13, 2006
BY Jeff Chostner
Councilperson
APPROVED: — ,
President of City Council
ATTESTED BY:
CITY CLERK
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Background Paper for Proposed
Resolution
AGENDA ITEM # I q
DATE: FEBRUARY 13, 2006
DEPARTMENT: COMMUNITY DEVELOPMENT /JIM MUNCH
PLANNING DEPARTMENT /JIM MUNCH
TITLE
A RESOLUTION OF THE CITY OF PUEBLO DECLINING TO ACT AS A REVIEWING
ENTITY FOR THE STATE INCOME TAX CREDIT PROGRAM FOR QUALIFYING
REHABILITATION PROJECTS UNDER COLORADO HOUSE BILL 90 -1033 (C.R.S.
§39 -22 -514, AS AMENDED)
ISSUE
Should the City Council approve a resolution declining to act as the reviewing entity for
the state historic preservation income tax credit program?
Approve the resolution
BACKGROUND
C.R.S. § 39 -22 -514 (10) (a) requires that each Colorado Historical Society Certified
Local Government adopt annually a resolution stating whether such Certified Local
Government will act as a reviewing entity during the following twelve (12) months. This
optional responsibility was declined in the City's Certified Local Government agreement
with the Colorado Historical Society, adopted in November 2005, and simply needs to
be reaffirmed annually. Declining this role will not impact the eligibility of landmark
property owners for approval of historic preservation tax credits.
FINANCIAL IMPACT
No financial impact.