HomeMy WebLinkAbout12198RESOLUTION NO. 12198
A RESOLUTION APPROVING THE TRANSFER OF
APPROPRIATED STORMWATER FUNDS FROM
STORMWATER PROJECTS TO BE DETERMINED
(SW1199) TO CROSS DRAINAGE-LAKE AVENUE
(SW1001)
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Funds in the amount of $111,000 shall be transferred from Stormwater Projects
to be Determined (SW1199) to Cross Drainage-Lake Avenue (SW1001).
INTRODUCED: July 25, 2011
BY: Leroy Garcia
COUNCILPERSON
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # M-1
DATE: July 25, 2011
DEPARTMENT: STORMWATER DEPARTMENT
EARL WILKINSON, DIRECTOR
TITLE
A RESOLUTION APPROVING THE TRANSFER OF APPROPRIATED STORMWATER
FUNDS FROM STORMWATER PROJECTS TO BE DETERMINED (SW1199) TO
CROSS DRAINAGE-LAKE AVENUE (SW1001)
ISSUE
Should the City Council approve the transfer of $111,000 of available budget from
Projects to Be Determined (SW1199) to Cross Drainage - Lake Avenue Project
(SW1001)?
RECOMMENDATION
Approval of Resolution.
BACKGROUND
On December 13, 2010, City Council approved an agreement between the City of
Pueblo and the Urban Renewal Authority of Pueblo, for the Lake Minnequa Urban
Renewal Project. Under the agreement, the Stormwater Utility Enterprise was required
to pay approximately $411,000 for certain stormwater improvements in a portion of the
Project (Segment 3). Project SW1001 - Cross Drainage-Lake Avenue – was established
for this purpose and currently has a balance of $290,263.75. Therefore, an additional
$111,000 will be required to meet this requirement.
FINANCIAL IMPACT
Funds in the amount of $111,000 will be transferred from Projects to be Determined
(SW1199) to Cross Drainage-Lake Avenue (SW1001).