HomeMy WebLinkAbout13331RESOLUTION NO. 13331
A RESOLUTION AUTHORIZING THE TRANSFER OF
$200,000 FROM THE 1992 - 2016 SALES AND USE TAX
CAPITAL IMPROVEMENT PROJECTS FUND FOR ROOF
REPAIRS AT THE BUSINESS AND TECHNOLOGY
CENTER
WHEREAS, the Business and Technology Center is a building maintained for the
purpose of job creating capital improvement projects; and
WHEREAS, a replacement of the roof is needed to maintain the appearance and
integrity of the building; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1:
Project ED1507, BTC Roof Replacement, is hereby established in the 1992-2016
Sales and Use Tax Capital Improvement Projects Fund
SECTION 2:
The amount of $200,000 shall be transferred to Project ED1507 for expenses
related to roof repairs at the Business and Technology Center.
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 therein.
SECTION 4.
This Resolution shall become effective immediately upon final passage.
INTRODUCED: November 9, 2015
BY: John Cordova
City Clerk’s Office Item # Q-2
Background Paper for Proposed
Resolution
COUNCIL MEETING DATE: November 9, 2015
TO: President Stephen G. Nawrocki and Members of City Council
CC: Sam Azad, City Manager
VIA: Gina Dutcher, City Clerk
FROM: Roni Kimbrel, Finance Director
SUBJECT: A RESOLUTION AUTHORIZING THE TRANSFER OF $200,000 FROM
THE 1992 - 2016 SALES AND USE TAX CAPITAL IMPROVEMENT
PROJECTS FUND FOR ROOF REPAIRS AT THE BUSINESS AND
TECHNOLOGY CENTER
SUMMARY:
This Resolution provides funding for roof repairs at the Business and Technology
Center located at Third and Main Streets FROM THE 1992-2016 Sales and Use Tax
Capital Improvement Projects Fund (Half-Cent Fund”).
PREVIOUS COUNCIL ACTION:
None.
BACKGROUND
The Business and Technology Center (BTC) is a building owned and operated by
PEDCO and used as a small business incubator. It helps new and growing companies
to be successful by providing valuable support services in a professional office
environment. Business incubation is a business support process that accelerates the
successful development of start-up and fledgling companies by providing an array of
targeted resources and services. Currently, there is a vital need for a roof replacement
to maintain the integrity of the building. This expenditure qualifies under the Criterion
Ordinance (P.M.C. 14-4-85.5) as a maintenance expense for a business incubator
building.
FINANCIAL IMPLICATIONS
The amount of $200,000 shall be transferred from the Half Cent fund for the
replacement of the roof.
BOARD/COMMISSION RECOMMENDATION:
Not applicable.
STAKEHOLDER PROCESS:
Not applicable.
ALTERNATIVES:
If this Resolution is not approved, the appearance and integrity of the BTC building
could be jeopardized.
RECOMMENDATION:
Approval.