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HomeMy WebLinkAbout11301RESOLUTION NO. 11301 A RESOLUTION AUTHORIZING THE CLOSING OF PROJECT CP0220, EAGLERIDGE PARK RENOVATION, AND THE TRANSFER OF $104,027.04 OF REMAINING CTF (Lottery) FUNDS TO PROJECT CP0224, ICE ARENA RENOVATION WHEREAS, Funds are needed for the rehabilitation of the Ice Arena, and WHEREAS, Remaining funds in the Eagleridge Park project are insufficient to complete the project at this time. BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: The City Council hereby authorizes the closing of Project CP0220, Eagleridge Park Renovation and the immediate transfer of $104,027.04 of CTF (Lottery) Funds from Project CP0220, Eagleridge Park Renovation to Project CP0224, Ice Arena Renovation Project. BY Vera Ortegon Councilperson APPROVE Lim PPI`81f I T' i I Crr INTRODUCED May 27, 2008 1� c 's . 1 190 1 Background Paper for Proposed RESOLUTION AGENDA ITEM # LI DATE: MAY 27, 2008 DEPARTMENT: FINANCE DEPARTMENT ROBERT HAIN, FINANCE DIRECTOR TITLE A RESOLUTION AUTHORIZING THE CLOSING OF PROJECT CP0220, EAGLERIDGE PARK RENOVATION, AND THE TRANSFER OF $104,027.04 OF REMAINING CTF (Lottery) FUNDS TO PROJECT CP0224, ICE ARENA RENOVATION. ISSUE Should City Council authorize a transfer of the remaining $104,027.04 of CTF funds in the Eagleridge Park Renovation project to the Ice Arena Renovation project? RECOMMENDATION The Staff recommendation is, Approval of Resolution. BACKGROUND The transfer of these funds to the Ice Arena Renovation project will allow the project to continue on schedule. FINANCIAL IMPACT This action closes a stagnate project and transfers the remaining CTF (Lottery) funds to the current Ice Arena Renovation project. The Eagleridge Park Renovation project will need to be appropriated from future years CTF funds.