HomeMy WebLinkAbout11121RESOLUTION NO. 11121
A RESOLUTION TO AMEND THE 2007 CONVENTION CENTER AND OPERATING BUDGET
OF THE URBAN RENEWAL AUTHORITY OF PUEBLO TO REFLECT UP -TO -DATE FISCAL
REVENUE AND EXPENDITURES
WHEREAS, City Council recognizes the need to amend the adopted fiscal year 2007
Urban Renewal Authority of Pueblo Annual Budget for the Phase 1 Project Area and the
Expanded Phase 1 Project Area, to reflect up -to -date revenue and expenses to more accurately
address the current fiscal responsibilities of the Urban Renewal Authority of Pueblo.
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The amended 2007 Operations Revenues and Expenditures Budget, a copy of which is
attached hereto; is hereby approved.
SECTION 2.
This Resolution shall become effective upon final passage.
INTRODUCED October 9, 2007
BY Randy Thurston
Councilperson
APPROVED: a
F#kESIDEINTof City Council
ATTESTED BY:
CITY CLERK
Res. MV
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # 3
DATE: OCTOBER 9, 2007
DEPARTMENT: MIKE TEDESCO, ASSISTANT CITY MANAGER FOR URBAN
RENEWAL
TITLE
A RESOLUTION TO AMEND THE 2007 CONVENTION CENTER AND OPERATING
BUDGET OF THE URBAN RENEWAL AUTHORITY OF PUEBLO TO REFLECT UP-
TO -DATE FISCAL REVENUE AND EXPENDITURES
ISSUE
Shall the City Council approve a Resolution to amend the 2007 Budget of the Urban
Renewal Authority of Pueblo to reflect up -to -date fiscal revenue and expenditures?
Approve the Resolution.
BACKGROUND
The proposed budget amendment addresses both the Pueblo Convention Center's
Budget, which is funded through the use of vendors' fees, and the Urban Renewal
Authority's Operating Budget, which is primarily funded through tax increment
financing. An amendment to the Pueblo Convention Center's Budget is needed to
reflect a more accurate reflection of debt service requirements pursuant to the Series
2005 Refunding Revenue Bonds, as well as less significant changes to the Pueblo
Convention Center's Operating Budget.
Changes within the Urban Renewal Authority's Operating Budget reflect new line items
associated with public outreach (Web Site, Annual Report, Education, Receptions), as
well as minor increases and decreases to established line items to reflect up -to -date
revenues and expenditures.
FINANCIAL IMPACT
No direct costs to the City of Pueblo associated with amending the budget.
URBAN RENEWAL AUTHORITY
PUEBLO COLORADO
PROPOSED CONVENTION CENTER AND URA OPERATING BUDGET
CONVENTION CENTER OPERATION
REVENUE
SALESAND OPERATIONS REVENUE
Roan Rental
Fam em fiesrapa
OTHER REVENUE
Rend
Admilsing
bpwO.Sto, Vendm. mist
TOTAL OPERATING REVENUE
OPERATING EXPENSES
EVENT EXPENSES
FBBCOMm Gams SoM
F48 PT/Pemp LeEm Expense
Opsmans PTFoM LaW Expeme
EVENT EXPENSE -A slrgRna w
EVENT EXPENSE - TebomnnNadms
EVENT EXPENSE - EWVnwM.inn Rw N
EVENTEXPENSE -Oemr
TOTAL EVENT EXPENSES
INDIRECT EXPENSES
Adere
Anrrad Car Bella
Bela 8 CrOM Card Fees
ColemomlBad 08M Ex ft
Computer EXOame
Dram Sobs
Dlaposnobs
Dueax9Lwipumn
Em*M Bemms
Employee HIRnyReoogMw Cab
EPployee axantm
EpJpnmM - Na 8 9rim1 YValec
Epdpnmrd Lease Agewraxk
EWVBldg Malmawme AgmMorta
EpJpmrd RadN
Imuame- WM1tlGPropaly
UammArmib
UmI aLa "
Un tzxlry Abc To Emml Espenes
Mal rdamnwfC eaNng Stpples
Mampnmm Fee
MeragemeM lrx S e
MeetlrOMCaaxSSmLfnl W gc
ONa sUgA s
Paget Tams
Posbge
PRmng
Protessloml Fees(Accau rgt pB
RorotlOrW Melalals
Rapers -swoe dpnlad
Sahrbs- AOrtyMU.
Tdwm-
TmmM
UNlams
UFNas
UFlaec Aloe To Evad Exposes
TOTAL INDIRECT EXPENSES
TOTAL EVENT AND (OVERHEAD)
INDIRECT EXPENSES
PROJECTED OPERATING DEFICIT CONV. CEN
BEFORE INCENTIVE FEE CALCULATION
Dent sernro m emw
MamWwt Fes
Marmgamrd IrXenSie Fee (1)
PnnN l Ta Jr Rommel Exec Daecb(2)
Cepibl Ouby em Repaoamm
ReplacenmM Reserve
Mak0V la Pu Cme . Coma
Taml
TOTAL OPERATING EXPENSES
OPERATING INCOME (Laa)
OTHER INCOME
amesamm I.Va Fes
vemor Fees
EXCESS (LOSS) FOR VENDOR FEE FUND
Rm El tP Adopts FgwtlM ..Adupled Rmgl 1 2000
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326,182
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22
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680
i4:'" J13 047
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2,316,494
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URBAN RENEWAL AUTHORITY OPERATIONS.11F
REVENUE
Prapatya Baba Tea Ime;xn[
Irnlsarb . epmu-TIF
P rig La RenMl-MrrbS
Tmpaay RwtmI -S mvtWs Building
ReWrbuxmmb(Lake Mtr and Gamp)
Mlscebneas URA Ft a
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URA USE OF FUNDS
Sap Payment Sodm 8 (TIF Fee)
W Rgpw
AticmayC
&XIt Fees
CINP ng RtlMXaaanMR
CmaWna SwAm (Not NDC)
DaM SvMm On LnenBrhaiv§
DeppJ0mbpre Eaperuea
DevaIop u Ca wVuc1m
Eam"Dln Sebry mJ CO (2)
HARP Lots 3341rcaSyea
Lary Ac¢Mlam
Mesta Derabper C.SuItV
MlaeYrRaa epmnF
NDC Caraaa Fees
Pa4RO Garage Eapaaaae
Pmod Ana Re4Pa2bpnwd Flap
Pminelael Foes
Properly AegUNlan (Loh 3 a 4, Fag)
BcNrcbYS Prop" BperSea
Sufam PRltlng Lot El"n
Tamp, PwWng Lot Inpruame
URAE v.
URAMm Im ng
URARecep3ma
URASpmcarshM
web SSa
TOTAL USE OF FUNDS
EXCESS (LOSS) FOR W BEFORE CAPITAL UP.
EXTRAORDINARY REVENUE
Bap PmceeOs
Bap Procea4s C.W.
Grata
TIF Hobl FUmI
Tool Re:aue
CAPITAL PROJECTS
CoraWalm Co of Pa Wng Sh chm
Coats N Hobl
Tool EipmBaTee
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f1ZnW21
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