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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 Arva=7 F+NPM �IYM 10a/IlmTpajd Ara gmT F+wIWt �'M�IOOT eudat +I Apwb 102 V.W-`„ +x.203 4'. .:4:i- A203724i 167 mei '7T�"4 :*~159387r 'W*M�' 159367? 142689 w '- 5.1'054 024 W1.`. 054,702s 985 ^F Faxes;= :8404= 14 1Tx",1`428!197* �P?�`- .�1'426197u 1309901 `h u+W295 171 'n "!,;: ,6295317r 267 '€ n'* 4242 V 'R' +> X:242 259 :.1,tax4%.i^:138 74'. ie^xu',ye -: 374: 48 4:"E�:AO"'..489! 12 EW10,te - &I;574? �•4' 7? +:A,5vs %40279 - 1 , 90B 2 5g9L*uVAFY6 'll 3SV 18,683 Nlw , .588 294 5, y'»588729; 610 : @s71B 198' 9 "9, '+.'S':7- ,18:i9B' 10 " >L4 Ve£YF°vr1' 40 W: AM T,",1'440, 58B ".1 -.6 DDD: 6 .v�,�a�ia7 >d^- B,".AEz"z:T00D! 9961 3+OOi :10:�"32= 503 VIV «l:1";773121. WM- ,U*:13'12V 14 i!fe "r, ^1ss8' %dLv. 80027 6439 '�4 � 108; :10 ;108 90 426 5 :s;«I3+a55` 3 e?'9"p�eE�rt55887# z°#iPr:?84r.10 945; 13,070 4841:x,510' 'ftX«s'atJ+.' €' =10080'. 11 ��- 'VWQ2Z 48; ft22248 20 "FA :w,mm?sS?875t 6DO i1?::,"",5'.;,. $144 +01710,944.450 44.512 . `m*ARa2 2 +i5Tq"%139000: 29 'S "3.A&S.,�r.` - � b1e^F KKK Ti •.`,%+ " d aa'325 79'. tlV% 6 24 �i*i•'r:4✓'>!P'.11! 107 11'610i 5 sTS. a4+ SS?43B0: 4 ..,'" #: A) 64 8? W& 64628r 6B 537 7 VW,2153 4',3'''?".,�>s&:'390D :. 4 L# 6 +050' x r° 0,0501 4,268 3 ?"tylw6 °Y_48500t 6 >4001 .wilAl "26500 7 'A-- W 1 V,Sftkk'04,5W 16 "W54& T*W4A5402534 445187 2 tA%AQ1 8549 n- V21'20Di 18 :&a„7Te'ZA2 581 a`T .x,12558 20 - 'is1 UMR'94AE3000' 5 ORW~37,07Z 127 'Pal •ikl; a3xi4:a1'218261g 1 v'9b3t;.1'942 t a- is'9i�806 B90 1636083 PER ,.,,., K0451 &89 r"Lk"a4v 380793 326,182 V5 ,J*417 X650+ ZWN 348000' 350 , 7c,,�°a +s - 7Xwct.ww98000: 73 owel ^A"M - 1 4? 24 0W 41 275 - agtT37fm' "'�2 1 1 7a'#MrW;'S'25 0001 15 945 �^E iN «73004001 tW:300200': 176 YOB:' „Sir,;,; 1 ': "v r3T.328 500: 22 + .isYatit °1 el`.wl9,867700 - : 680 i4:'" J13 047 674890! 2,316,494 ' ±, 1621747 ::*.Mtn.`' I,248493 ) (1,006,593 Auf"ll1 n;i 1?15 Alzt a? YR d" }ggxpi:'F#n ?`84720DD 131876 #li.rll;7D4 vI 1533560 §!a'ax€.€a�14AB4 °. '.E?k8;528260; 858,844 102 Ra E;ps MvRWN' 'u�uqu�rQ1+ omvK Exmw u,•Atlopl Fhua1 3Wa Atw21wu BN 1%'Aag308y M2�M2. Mae2 !!Amt I "a'Arp iWT BUdo1 +� AefaYa 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 Eenuat Macy PRa Yaa TIF Cen)oar Bap Proc s Cemvw TOTAL OTHER INCOME 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 Ex (Loss) TM Rwaua TIF FUND BALANCE CARRYOVER (1) TM MSmpsn•alnwrtlVa FN la baW mib mraetlul apaania2 bhaerib Lhmpsnaa DaRaaY aritlma l.YOan flwaawlAWpay. Ma wnb laup hits earintl aabrlYStla 104(PaY Ir,aentlra Fea). OI ThaNW BUa1Ae 0aaaar alpanwh71f3. 000 PaaP+a+ia MNaa ORi.. N3R,000bamiipNaTlf Ma op S23,gge •i1 cmn Ran tlr Vaneofa Fea(PUWU Cmuealwl CMwaPeraaM M1aWI. 2w2 BRSRW7 53 -"AU;332 1 50 ,AF2323 373 7 AAARW2 5f'W- .12 39 Rt4F.?- A -1 a1 ✓ *..a'-?�`1400DI 4000 f1&W.t21D E:"'3�aA 25000) ',v 56' 50 -A. 127 >3tiQk'JFYi F14?s' �I�t4v+;".'u?s.�;_;4Y 100 F ` 013 6314 544,468 Ww`;a'ar BIW„db:50' ;3- ^:rt`7"„k40000; 39 - NA,1 - 4a+1' 16000$ 6668 C�,'3 mia000: 14732 a4a457a ="u W 73D00t P ,q,- x .:1 "40000; 43372 rt AWWWt'< ? 87 108 : a r;,s`.,.1,'?c7.,100 =2 bk - C,1000D0'. 61 +`7 '�+.7eua"M" A :.WIWO,'42 61 D00 a'r,%9S;92. Bk 87 L ??R 3 "100000! 1 �a mfkwft ".,G'7i, Yku vst,:Y"Ak'"+.N40. E kk7tS1 "e'at1r7284 2395 i'ay4> I - �s7ua. ^— '"Nk''4 4 - - ,?WmAail2 1 - :a4°5N'FS aaaS: -WA - 32r1 Y4 eo "P& ter- ow -';u0 87 ARAW�9'+.377 321 -:�z .A" /7O 12.652 �WW, -M2311603:i 223AN 1ib*!a "3ft.` finik'.ii'w +&v2'31"'S.,t+ °.;^.�. .a: v •"r C`iS`: 4rii m1v1^' *Ar —'1m 9 500 000 9 W x1 1 -1. :`&4 9.500,000 ftwvrw -w 245 000 f1ZnW21 AVN m1'058 :' +&9i 1'•058500. 9 745 000 A D58 '2rr;:3ti1058 9.500,000 9 745 000 K~1 =tF 9 500 000 9745000 z. "`b„£=•,1'1 i 500000 *5a%10585001 a1�Y °ia'c�+u7z'�: i :s k � .v' ' � * h " s X4 [ � + �� 1 � 2 08; 12 652 r~0238 6031 9 500 DOD d'". `,'s'tad 87 12 1 t51WJ: ;2386031 223456 (1) TM MSmpsn•alnwrtlVa FN la baW mib mraetlul apaania2 bhaerib Lhmpsnaa DaRaaY aritlma l.YOan flwaawlAWpay. Ma wnb laup hits earintl aabrlYStla 104(PaY Ir,aentlra Fea). OI ThaNW BUa1Ae 0aaaar alpanwh71f3. 000 PaaP+a+ia MNaa ORi.. 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