HomeMy WebLinkAbout11180RESOLUTION NO. 11180
A RESOLUTION APPROVING THE URBAN RENEWAL AUTHORITY OF PUEBLO AMENDED
2007 OPERATING BUDGETS FOR THE PHASE 1 URBAN RENEWAL PROJECT AREA, THE
EXPANDED PHASE 1 URBAN RENEWAL PROJECT AREA, AND THE PUEBLO
CONVENTION CENTER
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
The Urban Renewal Authority of Pueblo ( "Authority ") amended 2008 Phase 1 Project
Area budget, Expanded Phase 1 Project Area budget, and Pueblo Convention Center budget
( "Budget "), a copy of which is attached hereto, is hereby approved; provided, however, that
Excess (Loss) for Vendor Fee Fund shown on the Budget shall not be committed, encumbered,
or expended by the Authority other than to invest or reinvest same without prior approval of the
City Council by Resolution.
INTRODUCED December 31. 2007
BY Randy Thurston
Councilperson
APPROVED: a
#?ESIDEINTof City Council
ATTESTED BY:
CITY CLERK
Res 11/80
Background Paper for Proposed
RESOLUTION
AGENDA ITEM #
DATE: DECEMBER 31, 2007
DEPARTMENT: MIKE TEDESCO, ASSISTANT CITY MANAGER FOR URBAN
RENEWAL
TITLE
A RESOLUTION APPROVING THE URBAN RENEWAL AUTHORITY OF PUEBLO
AMENDED 2007 OPERATING BUDGETS FOR THE PHASE 1 URBAN RENEWAL
PROJECT AREA, THE EXPANDED PHASE 1 URBAN RENEWAL PROJECT AREA,
AND THE PUEBLO CONVENTION CENTER
ISSUE
Shall City Council approve the amended Urban Renewal Authority Phase 1 Project
Area, Expanded Phase 1 Project Area, and Pueblo Convention Center 2007 budgets?
Approve the Resolution.
BACKGROUND
On November 13, 2007, and again on December 11, 2007, the Urban Renewal
Authority of Pueblo amended their adopted 2007 budget to account for numerous
adjustments and /or additional expenses as incurred throughout fiscal year 2007.
Significant adjustments occurred in line items associated with debt service and interest
payments on bond packages for the Pueblo Convention Center and the Pueblo Main
Street Parking Garage, such adjustments were previously financed and amount to
accounting corrections. The amended 2007 Authority budget is attached with
amendments highlighted in yellow. Comments are included in an effort to help clarify
specific line items.
FINANCIAL IMPACT
No direct financial impact to the City of Pueblo.
URBAN RENEWAL AUTHORITY
PUEBLO COLORADO
PROPOSED CONVENTION CENTER AND URA OPERATING BUDGET
A1w]4N INeae I'Ane aiYbs I An.ml iepe I �&rlow.) Aeve.
CONVENTION CENTER OPERATION
REVENUE
SALES
OTHER
R em
TOTAL
OPERATND
EVENT
Fag
Fab
Opseb
PT
EVENT
EVEN
EVENT
EVENT
TOTAL
INDIRECT
AcwPm
SmAa
O
N
N
Omm
Paya4
Paw N
PbSnp
Pte
T
TN
UN
UN
TOTAL
TDT
NO
PROD
Ett
BEFORE
DNm Se
Na mpe
NeNpS
F eNlx e
eba
o
R.P
NNlmin
TM
TOTAL
OPERATIC
OTHER SON
ENPPan
Vbeel
EXCESI
AIIDOPERANONSREVENUE
Roan Red 724 203 167812
OMr
Taa4 o.uwt..N.r.are . ro.am.a . i 159367' '-:15930 142 BB9
ere Bnaepe ..•:•..1054702. ^105470Q, 986420
REVENUE w< ?; vtu „m_sa` l
`ate .: =1 ";•
ARMS p
SpoieaaMps,Vrmy , aTrr '' 8400 < •8404 14
oPERATM REVENUE :..( T42 197 1,426 1
EXPENEXPENSES -',v ✓._:mi 3:'t
EXPENSES JS, ; .ar: ✓Kkk: . "..Eg:.:. -',
CaeeC>oab SN ^:< °':.295317' ;,2
.: 1 : 267
/reap Lev Ell '.242581 :.242581 259
s PT0,W Lea, Etpem 'a 374 ...'38374 48
EXPENSE - A4xMAVPmdC4m ' '48 , A,.489' 12595
EXPENSE- Tebmlma'M `' '1'S74: >0- „1574 1908
EXPENSE- EW*wAkm Reee .�' ^ ". °`Ya,4027+ 'au."�az;4027• 2
EXPENSE -OSNt ,C,'. *.,=: - •8367< `.'.:448367. 18683
EVEN NS
EXPEES ;a.. .:;588729, o- 588729' 610
EJfPENEEa , : .- .., '; -r .•
np .:'.:18198, :�r .18198 40
10D
M1ve4 C. Se .,; 1 "440' . t X ':: `... =1'440' 588
GeOlCm4 FeN em
'x.6000' 6 6
Cabcles9a00mM Etp .'ex" .•.. y� Enpoy.erYEpFAeap4Mmr „. -
Cetp4e
L1Nax
PmN8l
En4bTe
Spam .7000 axtl.01°.omdtrtb 7000 9
a ....3200' aornw n.em 320D 503
tlx - 13121: Davp.xeN..o<. 3121: 14
mwlplots " .t.v8002; ..._.8002 6
P BtrmAh & ',_r!�.108363' '' JA1089S3 426
Fnpv COSH 1 000 8;,.5896 495
x
Enpb
EpNnx4 N
EO1PeI
EgipAD
EtPlPme
YCarbes : 987' '.: 55
maBIPVVAtI selvx 10945 10945 13
m Lem Ap '',>1 080. ' -� 1008D 11
tb Nebmom ARemNeP b;,:� + ".; 22 20499
e Remo 49 ..tS75. �4 ': ^: h675 600
XNUece- 144'+BI1pPwPeM x' :: ��.'44450, '? 44450' 44
UtamaSerHb 195. :2196 220
WINNAm1DY m. '.. FOOD: -': 3900D 29
UnePlmmmy Abc TO E Spa - �'-
tlmwwaKu pSUP" �;.'�c2 079 tM 079 24
NI0QP
Nmepe
0 Fro sy `..';.., 000;
ml
nen mow er k'°: 1.24000'
NeemipSc4mwdaxlRetrmw .;'11610 : -= :11510 5
Stpp4s - '4380. :. S- .4380. 4
Tm _. ,64628 .64678 68
-: 80O ", ': >'k390D 4
ew 4268
aP
PnXlgte
eme Fw(AcomPxG4pa11 e a':' -�:' "f 8500 �, .: ":_ ^8500 6
Xlw4es `10500: ":10500 7569
Repelx- BCp691pRNe
seNNNS
•.:14550' :'14550 1604
- AdNNxeM ..548753. ..510253" 445
e1aPlieN "b o%.21200. �. ..t .•. 21 18
:.?lU0012668' a ",12558 ' 20358
UNTart Ya
3000- .: •30 5
,., 13702: _ ' 137 0 80
2 127 1
NONECT EXPENSES - 1353885 vu De�maelSeer ra 218.281. 1
m emoua tr e
AL EVENT AND (OVERHEAD) ,.•: 1942594, meram .mrbN aeMn 980' 1838063
RKT EXPENSES uP3a ')Y - ,+rsV2xiASN prymeaablM BeM ]40a uk'4"4'""
ED OPERATING DEFICO CONY. CENTER :- :1!.•::'.816 UHVP RAMM Seib 753 1
INCENTIVE FEE CALCULATION
It=a Bmea 703650 348000 350
tart Poe '..9800D 73
nenllrcmNa Fm 1 's +* I° t 41
/m 11Ner RSNae ETec OaaPIe12) , "':.' -'4 +'25000' ^ „. ' "' ",25000 15945
XmyaNRapmm.e - 300 300 176
mm Ream 50,0001 50
plar PNmb GOnxtSm Ce4r - .28500: ' %26500' 22
-.1.105.350 837,70D 690
OPERATING EXPENSES 047 044 " 2 318 494
ICOxE1Lex1 �" 1621747 1248493 1006593
ME
X4aceroV Far °^ •u < - 7 000- ;F72000: 131878
Fax 7:: ✓.'i1'584231C ..;'�:taY.1.F704`783' 1 533580
1(IDSS)PORVENDORFEEFUND 'i?n: °d•%14 ' "?
102 1NIV
rill.
102 1NIV
�,kwgd MAE
Z �� - 1 =
URBAN RENEWAL AUTHORrry OPEMTMS-TIF
REVENUE
Prop"amsWonTm bF.ymlwt
nnwlftsm htmlrTF
PW"LWRKft"ftnlA
To W." Rest F8dustWo B1
Rebt m oft (LW Mkm mdGwop)
Nbustimmm, URA Rete.e
Emmet mm"
N Yesrwcmrov
Sa nmeeft cWryum
W.XWW4'r"'l
asutlpwo
—
,1000DO
mxmok'%v
W:t'*
2400
3"',,323.175'
373,025
50 000:
-0V,,OLL12,ODO,
P3
39.537
wl✓�tWAODOI
I
kpow?i'"'Oow
-
IW- 1
65000
MWWK-914,000
4,000
I klv-"wA 000
Tpa emrawnms F W
Aws I Praw
74�*S'Y',,
-
wtmWja-
sm�s.ehsid*niysee
1`�,40%223,450:
127,906
-
544,468
URA USE OF FUNDS
Bane P.WwtSe,JesS(TlFFW)
AMWROW
ANWANYOWS
ALNftFws
Owd V~ EXPORS01,
f]y FNaiU Nwitumerwit
CWdU*IgSen4cmS(NWNDC)
� �
SmCn� L
W.XWW4'r"'l
asutlpwo
—
,1000DO
mxmok'%v
2400
50 000:
1 00
11 000
lgtmwo"Q�
ow
I
9Z348
Atwwvd wl P.Yj
"3&4heer6wf"
65000
1 00
Dw6omment Castucloi ebtptslWV Upm -woven
HARP Las 3 & 4t.anFet
Lond Ac%bWw
hhftWDSWbPffCOWAV -
mkwaNramsp
NOG Cor*od Fees
PM"G—PBP—
Fob GmpehtlNnl Fopm 4SZ289
Faceft k"Prallon"ll
Pm(esslaW Fees
P.,anyAc,Aswn(1:73&4,Fmg)
RIOP" Evermes
SWftmPffkbVLWEvff"s
TMW Pamvl-&lmP""mIwN
URA Edcdm
URA WholkAng mmm
URA RoCaPS" Erytsl(HMNOFeRnNnBN GWW
URA Spawn*" Smh.rsbmt mthnft
yv absim EwmWF f Fra1..f Arm
Wrmmvaaamsman
,1000DO
50.000
WWIP".,
1 00
lgtmwo"Q�
I
9Z348
1 00
— ft.
Tpa emrawnms F W
Aws I Praw
74�*S'Y',,
- Wmu&lo
18590
1 58
1 4,500
TOTAL USE OF FUNDS
EXTRAORDWARYREVENUE
aw plooah
BaNR'ocetlsCaffywsr
Grivis
TIF H.W Fuml
TdWRBl0Y0
CAPrrAL PFNIUECTB
Cmlsof b
TOW EWN&M
Excws(Lmm)TMWRevaue
7W FUND BALANCE CARRYOVER
(1) Pit Wmnop ft s Fp W WWm ft OOreasTW.FematfMxen ft fiiuwWat Ca u ft ann RSraal Mnoffly.
ll*tcwmA M ft molmdrapsMO* IOAP"hwW.. F.t
(2) Ilm I" Emaupee Omdm spins 1. $in.= W W. Wl. d ath ft dty- SIM,MO I. Cain, W dlIF fulls
W 433,000x . eum ft V. . F" 4Pe.U. CaneNf. CMS WWW" N ).
202 lmt