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HomeMy WebLinkAbout14767 RESOLUTION NO. 14767 A RESOLUTION AUTHORIZING THE TRANSFER OF $1,007 FROM THE GOODNIGHT BARN STABILIZATION PROJECT PL1405 AND $21,030 FROM THE POPE BLOCK BUILDING WEST REMODEL PROJECT PL2001 INTO THE GOODNIGHT BARN REHABILITATION PROJECT PL1704 BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Funds in the amount of $1,007 are hereby transferred from Project PL1405 into PL1704. SECTION 2. Funds in the amount of $21,030 are hereby transferred from Project PL2001 into PL1704. SECTION 3. The officers and staff of the City are 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 13, 2021 BY: Ed Brown MEMBER OF CITY COUNCIL APPROVED: PRESIDENT OF CITY COUNCIL ATTESTED BY: CITY CLERK City Clerk’s Office Item # M-4 BACKGROUND PAPER FOR PROPOSED RESOLUTION COUNCIL MEETING DATE: December 13, 2021 TO: President Lawrence W. Atencio and Members of City Council CC: Nicholas A. Gradisar, Mayor VIA: Marisa Stoller, City Clerk FROM: Scott Hobson, Acting Director of Planning and Community Development SUBJECT: A RESOLUTION AUTHORIZING THE TRANSFER OF $1,007 FROM THE GOODNIGHT BARN STABILIZATION PROJECT PL1405 AND $21,030 FROM THE POPE BLOCK BUILDING WEST REMODEL PROJECT PL2001 INTO THE GOODNIGHT BARN REHABILITATION PROJECT PL1704 SUMMARY: This Resolution authorizes the transfer of the remaining unexpended funds of $1,007 from the Goodnight Barn Restoration Project PL1405 and $21,030 from the Pope Block Building West Remodel Project PL2001, into the Goodnight Barn Rehabilitation Project PL1704. PREVIOUS COUNCIL ACTIONS: City Council has previously approved Ordinance No. 9178 on September 11, 2017, Ordinance No. 9436 on March 11, 2019, Ordinance No. 9843 on December 14, 2020, and Ordinance 9488 on June 10, 2019, cumulatively budgeting and appropriating funds totaling $1,066,900 into the Goodnight Barn Rehabilitation Project PL1704. BACKGROUND: On November 5, 2020 the final deliverables were submitted to History Colorado, State Historical Fund that closed out the City’s grant to assist with the cost of the restoration of the Goodnight Barn. There was $30,429.88 of unexpended funds from the grant that City project staff did not identify as being needed to pay remaining project expenses. This was based on $27,000 of in-kind work by Black Hills Energy that was erroneously considered by the project team as cash income to the Project. This left a remaining cash shortfall of $22,036.15 that did not have revenues to balance the project account. To close the Project account, funds in the amount of $22,037 need to be transferred into the Project. The Goodnight Barn Stabilization Project PL1405, which was completed prior to the barn restoration project, is complete and has a remaining balance of $1,007. All expenses have been paid from the Pope Block Building West Remodel Project PL2001. Available funds from these projects are proposed to be transferred into the Goodnight Barn Restoration Project covering the current budget shortfall. FINANCIAL IMPLICATIONS: Funds in the amount of $1,007 from project PL1405 and funds in the amount of $21,030 from project PL2001, for a total amount of $22,037.00 will be transferred into Project PL1704. BOARD/COMMISSION RECOMMENDATION: Not applicable to this Resolution. STAKEHOLDER PROCESS: Not applicable to this Resolution. ALTERNATIVES: The City will not be able to close the Goodnight Barn Rehabilitation Capital Project PL1704 without transferring additional project revenues into this Project. RECOMMENDATIONS: Approval of the Resolution. Attachments: Proposed Resolution