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HomeMy WebLinkAbout12628RESOLUTION NO. 12628 A RESOLUTION AUTHORIZING THE TRANSFER OF $18,939 OF COLORADO DEPARTMENT OF LOCAL AFFAIRS GRANT FUNDS BUDGETED AND APPROPRIATED IN THE DOWNTOWN WALK/LIVE PLAN PROJECT PL0907 TO THE CITY HALL INTERIOR RENOVATION PROJECT PL0904, AND TRANSFERRING $18,939 OF INTEREST EARNINGS OF THE 1992 – 2011 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND BUDGETED AND APPROPRIATED IN THE CITY HALL INTERIOR RENOVATION PROJECT, PL0904 TO THE DOWNTOWN WALKABILITY PROJECT NO. PL0907 BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Funds in the amount of $18,939 are hereby transferred from Colorado Department of Local Affairs grant funds budgeted and appropriated in Ordinance No. 8119 approved by City Council on November 23, 2009 for the Downtown Walk/Live Plan Project, PL0907 to the City Hall Interior Renovation Project PL0904 to be used for energy conservation construction measures related to the interior renovation of City Hall. SECTION 2. Funds in the amount of $18,939 are hereby transferred from interest earnings of the 1992 – 2011 Sales and Use Tax Capital Improvement Projects Fund budgeted and appropriated in Ordinance No. 8047 approved by City Council on August 24, 2009 for the City Hall Interior Renovation Project, PL0904 to the Downtown Walk/Live Plan Project, PL0907. SECTION 3. This Resolution shall become effective upon passage and approval. INTRODUCED: March 25, 2013 BY: Chris Nicoll Background Paper for Proposed RESOLUTION DATE: MARCH 25, 2013 AGENDA ITEM # Q-2 DEPARTMENT: PLANNING AND COMMUNITY DEVELOPMENT JULIE ANN WOODS, AICP/ASLA, DIRECTOR TITLE A RESOLUTION AUTHORIZING THE TRANSFER OF $18,939 OF COLORADO DEPARTMENT OF LOCAL AFFAIRS GRANT FUNDS BUDGETED AND APPROPRIATED IN THE DOWNTOWN WALK/LIVE PLAN PROJECT PL0907 TO THE CITY HALL INTERIOR RENOVATION PROJECT PL0904, AND TRANSFERRING $18,939 OF INTEREST EARNINGS OF THE 1992 – 2011 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND BUDGETED AND APPROPRIATED IN THE CITY HALL INTERIOR RENOVATION PROJECT, PL0904 TO THE DOWNTOWN WALKABILITY PROJECT NO. PL0907 ISSUE Should City Council approve a Resolution authorizing the transfer of $18,939 from the Downtown Walk/Live Plan Project, PL0907 to the City Hall Interior Renovation Project, PL0904 (“City Hall Project”) and transfer $18,939 in funds from the City Hall Project to the Downtown Walk/Live Plan Project, PL0907? RECOMMENDATION Approval of the Resolution. BACKGROUND The City was a subrecipient of a grant from the Colorado Department of Local Affairs (DOLA) in the amount of $500,000 to assist in funding energy efficiency improvement in city-owned public buildings, as well as for the completion of other sustainability/livability plans and activities. The administrative staff from DOLA notified the City in February 2013 that only energy efficiency “construction” costs for the City Hall interior renovation will be reimbursed to the City under the terms of the grant agreement. The City has expended $500,000 in energy efficiency construction improvements on the City Hall Project that qualify for reimbursement. To date all but $18,939 has been reimbursed to the City by DOLA. This Resolution transfers $18,939 of the DOLA funds that were budgeted and appropriated in Ordinance No. 8119, approved by City Council on November 23, 2009, for the Downtown Walk/Live Plan Project, PL0907 (a non- construction related project) to the City Hall Project. The budget transfer will allow for the remainder of the grant funds to be reimbursed to the City. In order to backfill the portion of the Downtown Walk/Live Plan Project funds that are not eligible to be reimbursed by the DOLA Grant, an equal amount of funds that were included in Ordinance No. 8047 approved by City Council on August 24, 2009 for the City Hall Project will be transferred into the Downtown Walk/Live Project, PL0904. This will allow for the full grant amount to be reimbursed to the City and provide funding for the completion of the Downtown Walk/Live Plan Project. The $18,939 in funds being transferred from the City Hall Project will come from funding provided to the City Hall Project from interest earnings from the 1992 – 2011 Sales and Use Tax funds (“Sales and Use Tax Interest”) that were budgeted and appropriated in Ordinance No. 8047, approved by City Council on August 24, 2009. The Sales and Use Tax Interest is the funding in the City Hall Project that is not contractually committed either through the City–County 1-A Projects Agreement or other state and federal grants to be spent for the City Hall Project. FINANCIAL IMPACT This Resolution allows for grant funds currently under contract for the City Hall Project to be fully reimbursed and for funding to complete the Downtown Walk/Live Plan Project. No other financial impacts will result from the transfer of funds between the two projects.