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HomeMy WebLinkAbout13859 RESOLUTION NO. 13859 A RESOLUTION TRANSFERRING FUNDS IN THE AMOUNT OF $352,282 TO PROJECT NO. SW1801 FOR THE PURPOSE OF FUNDING REPAIRS AND IMPROVEMENTS TO THE LEVEE SYSTEM ON FOUNTAIN CREEK LOCATED WITHIN THE CITY OF PUEBLO, AND INCREASING TOTAL FUNDING FOR PROJECT NO. SW1801 TO $549,282 BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Funds in the amount of $267,482 will be transferred from Project No. SW1603 into SW1801 Floodplain/Levee Repair – Fountain Creek. SECTION 2. Funds in the amount of $84,800 will be transferred from Project No. SW9999 into SW1801 Floodplain/Levee Repair – Fountain Creek 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. SECTION 4. This Resolution shall become effective immediately upon passage and approval. INTRODUCED December 26, 2017 BY: Ed Brown City Clerk’s Office Item # M-9 Background Paper for Proposed Resolution COUNCIL MEETING DATE: December 26, 2017 TO: President Stephen G. Nawrocki and Members of City Council CC: Sam Azad, City Manager VIA: Brenda Armijo, Acting City Clerk From: Earl Wilkinson, Public Works Director SUBJECT: A RESOLUTION TRANSFERRING FUNDS IN THE AMOUNT OF $352,282 TO PROJECT NO. SW1801 FOR THE PURPOSE OF FUNDING REPAIRS AND IMPROVEMENTS TO THE LEVEE SYSTEM ON FOUNTAIN CREEK LOCATED WITHIN THE CITY OF PUEBLO, AND INCREASING TOTAL FUNDING FOR PROJECT NO. SW1801 TO $549,282 SUMMARY: This Resolution transfers funds to SW1801 Floodplain/Levee Repair – Fountain Creek. PREVIOUS COUNCIL ACTION : None BACKGROUND : Pueblo County and City of Colorado Springs executed an Intergovernmental Agreement (IGA) on May 2, 2016 that states, Colorado Springs Utilities (CSU) shall contribute to the City of Pueblo Stormwater Enterprise (City) funds not to exceed $1 million a year for 3 years ($3 million total). Such contributions shall be contingent upon matching contributions from the City. Currently, CSU has contributed the first and second payment for a total of $2 million and the City has provided the match. The third and last payment of $1 million will be due January 1, 2018 and the City needs to provide the $1 million match which this Resolution will accomplish. Funds are for the purpose of funding repairs or improvements to the Fountain Creek levee system within the City of Pueblo. Projects that will be accomplished with the funds are dredging, vegetation and debris removal, storm sewer repair and improvements through the levee, levee embankment repair, and recertifying the levee. FINANCIAL IMPLICATIONS : Funds will be transferred from the following projects to Project No. SW1801 Floodplain/Levee Repair – Fountain Creek: $267,482 from SW1603-Fountain Creek Levy Dredging Project $ 84,800 from SW9999-Stormwater Projects to be Determined The additional funding provided by this Resolution will increase the total funding for Project No. SW1801 to $549,282. BOARD/COMMISSION RECOMMENDATION : Not applicable. STAKEHOLDER PROCESS : None. ALTERNATIVES : Alternative No. 1 – No Action Under this alternative, funds will not be transferred to provide the $1 million match necessary for the last $1 million contribution from Colorado Springs Utilities. RECOMMENDATION : Approval of the Resolution.