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HomeMy WebLinkAbout13290 RESOLUTION NO. 13290 A RESOLUTION APPROVING A JOB CREATING CAPITAL IMPROVEMENT PROJECT FOR THE INSTALLATION OF A CONCRETE FLOOR AT THE CORPORATE HANGAR LOCATED AT 32501 WALT BASSETT BOULEVARD, PUEBLO, COLORADO 81001 AND TRANSFERRING $356,000 FROM THE 1992-2016 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The City Council finds and determines that the expenditure of $356,000 for the job creating capital improvement project for the installation of a concrete floor at the Corporate Hangar, owned by the City of Pueblo, located at 32501 Walt Bassett Avenue, Pueblo, Colorado 81001 meets and complies with the criteria and standards established by Section 14-4-85 of the Pueblo Municipal Code and will create employment opportunities justifying the expenditure of public funds. SECTION 2. Funds in the aggregate amount of $356,000 are hereby authorized to be transferred, expended and made available out of the 1992-2016 Sales and Use Tax Capital Improvement Projects Fund for the sole purpose of the job creating capital improvement project of the installation of a concrete floor at the Corporate Hangar. The City’s Director of Finance is hereby instructed to transfer and expend $356,000 for the purpose set forth in this Resolution. SECTION 3. The officers and staff of the City are directed and authorized to perform any and all acts consistent with the intent of this Resolution which are necessary or desirable to effectuate the transactions described herein. Section 4. This Resolution shall become effective immediately upon final passage. INTRODUCED: August 24, 2015 BY: Eva Montoya City Clerk’s Office Item # Q-1 Background Paper for Proposed Resolution COUNCIL MEETING DATE: August 24, 2015 TO: President Stephen G. Nawrocki and Members of City Council CC: Sam Azad, City Manager VIA: Gina Dutcher, City Clerk FROM: Daniel C. Kogovsek, City Attorney SUBJECT: A RESOLUTION APPROVING A JOB CREATING CAPITAL IMPROVEMENT PROJECT FOR THE INSTALLATION OF A CONCRETE FLOOR AT THE CORPORATE HANGAR LOCATED AT 32501 WALT BASSETT BOULEVARD, PUEBLO, COLORADO 81001 AND TRANSFERRING $356,000 FROM THE 1992-2016 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND THEREFORE SUMMARY: Attached is a Resolution which approves and authorizes the expenditure of $356,000 from the 1992-2016 Sales and Use Tax Capital Improvement Projects Fund (“Half-Cent Tax Fund”) to install a concrete floor at the Corporate Hangar, owned by the City of Pueblo, located at 32501 Walt Bassett Boulevard at the Pueblo Memorial Airport Industrial Park. PREVIOUS COUNCIL ACTION: City Council, by Resolution No. 10356, dated March 28, 2005 authorized the expenditure of Half-Cent Tax Funds to construct the Corporate Hangar and to make related improvements. $2,412,070 has been spent for the construction of the hangar; $1,312,110 has been paid for runway and taxiway improvements and $26,486 has been expended for utilities and upkeep of the hangar, for a total of $3,750,666. BACKGROUND: The Corporate Hangar was constructed in 2005 for use by companies employing full-time employees which would conduct aeronautical business activities at the Pueblo Memorial Airport. The installation of a concrete floor at the Corporate Hangar would make the building more marketable for future use. FINANCIAL IMPLICATIONS: Transfer of up to $356,000 from the Half-Cent Sales Tax Fund for installation of a concrete floor at the Corporate Hangar. BOARD/COMMISSION RECOMMENDATION: Not applicable to this Resolution. STAKEHOLDER PROCESS: Not applicable to this Resolution. ALTERNATIVES: If this Resolution is not approved, the Corporate Hangar will continue to have a dirt floor. RECOMMENDATION: Approval of this Resolution. Attachments: