HomeMy WebLinkAbout09830ORDINANCE NO. 9830
AN EMERGENCY ORDINANCE ESTABLISHING PROJECT
CI2018 PUEBLO CITY-COUNTY BUILDING PROJECT AND
BUDGETING AND APPROPRIATING FOUR MILLION
DOLLARS ($4,000,000) FROM THE FUND BALANCE OF
THE GENERAL FUND TO SAID PROJECT FOR THE
PURPOSE OF PURCHASING AND REMODELING THE
REAL PROPERTY AND IMPROVEMENTS LOCATED AT
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201 W. 8 ST., PUEBLO, COLORADO, IN
COLLABORATION WITH PUEBLO COUNTY, COLORADO,
A POLITICAL SUBDIVISION OF THE STATE OF
COLORADO
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO that:
SECTION 1.
Project No. CI2018, the Pueblo City-County Building Project, is hereby established.
SECTION 2.
Funds in the amount of Four Million Dollars $4,000,000.00) are budgeted and
appropriated from the Fund Balance of the General Fund to Project CI2018 for the purpose
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of purchasing and remodeling the Wells Fargo Bank Building located at 201 W. 8 Street,
Pueblo, CO 81003, which is being acquired in collaboration with Pueblo County, Colorado;
for paying the relocation expenses of City Departments and staff and for paying the costs
of the issuance of the anticipated Certificate of Participation.
SECTION 3.
The officers and staff of the City are authorized and directed to perform any and all
acts consistent with this Ordinance to implement the policies and procedures described
SECTION 4.
Savings Clause: The Closing of the purchase of the Wells Fargo Building is
scheduled for December 10, 2020, requiring City Council’s immediate consideration of
this Ordinance. The immediate enactment of this Ordinance is necessary in order to
preserve and protect the health, safety and welfare of the residents of the City. Pursuant
to Sec. 3-20 of the City Charter, this Ordinance shall become effective on the date of final
action by the Mayor and City Council.
Action by City Council:
Introduced and initial adoption of Ordinance by City Council on December 7, 2020.
Final adoption of Ordinance by City Council on December 7, 2020 .
President of City Council
Action by the Mayor:
☒ Approved on December 10, 2020 .
☐ Disapproved on based on the following objections:
Mayor
Action by City Council After Disapproval by the Mayor:
☐ Council did not act to override the Mayor's veto.
☐ Ordinance re-adopted on a vote of , on
☐ Council action on __________________failed to override the Mayor’s veto.
President of City Council
ATTEST
City Clerk
City Clerk’s Office Item # C-2
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: December 7, 2020
TO: Dennis E. Flores and Members of City Council
FROM: Mayor Nicholas A. Gradisar
VIA: Brenda Armijo, City Clerk
SUBJECT: AN EMERGENCY ORDINANCE ESTABLISHING PROJECT CI2018 PUEBLO
CITY-COUNTY BUILDING PROJECT AND BUDGETING AND APPROPRIATING
FOUR MILLION DOLLARS ($4,000,000) FROM THE FUND BALANCE OF THE
GENERAL FUND TO SAID PROJECT FOR THE PURPOSE OF PURCHASING
AND REMODELING THE REAL PROPERTY AND IMPROVEMENTS LOCATED
TH
AT 201 W. 8 ST., PUEBLO, COLORADO, IN COLLABORATION WITH PUEBLO
COUNTY, COLORADO, A POLITICAL SUBDIVISION OF THE STATE OF
COLORADO
SUMMARY:
Attached is an Ordinance establishing a project to be known as the Pueblo City-County Building
Project and budgeting and appropriating Four Million Dollars ($4,000,000.00) from the Fund
Balance of the General Fund to said Project.
PREVIOUS COUNCIL ACTION:
On October 26, 2020, the City Council, by Resolution, accepted and approved the Assignment of
a Contract to Buy and Sell Real Estate (Commercial) from Pueblo County to itself and the City of
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Pueblo concerning the real property and improvements located at 201 W. 8 Street (“Wells Fargo
Bank Building”) in downtown Pueblo.
BACKGROUND:
The purpose of the attached Ordinance is to provide the financing necessary for the purchase and
remodeling of the Wells Fargo Bank Building which the City is purchasing in collaboration with
Pueblo County.
FINANCIAL IMPLICATIONS:
Four Million Dollars ($4,000,000.00) will be withdrawn from the Fund Balance of the General Fund
(“reserves”) for this Project. Said funds shall be spent as follows:
Half of purchase price $2,750,000.00
Remodeling and relocation expenses 1,190.000.00
Costs of COP issuance 60,000.00
Total $4,000,000.00
City staff recommends that the Fund Balance of the General Fund be reimbursed by the proceeds
of a $4,000,000.00 Certificate of Participation (“COP”) to be issued by the City in January 2021.
An RFP for the COP has been issued by the City’s Purchasing Department (RFP No. 20-069).
BOARD/COMMISSION RECOMMENDATION:
Not applicable to this Ordinance.
STAKEHOLDER PROCESS:
Not applicable to this Ordinance.
ALTERNATIVES:
City Council has the option of not establishing this Project and not purchasing the Wells Fargo
Bank Building.
RECOMMENDATION:
The Mayor recommends approval the attached Ordinance.
Attachments: Proposed Ordinance