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RESOLUTION NO. 14775
A RESOLUTION APPROVING THE PUEBLO URBAN
RENEWAL AUTHORITY VENDOR FEE BUDGET IN THE
AMOUNT OF TWO MILLION, NINE HUNDRED EIGHTEEN
THOUSAND FOUR HUNDRED THIRTY-NINE DOLLARS
($2,918,439) FOR THE PUEBLO CONVENTION CENTER
AND THE MEMORIAL HALL CAPITAL PROJECTS AND
MAINTENANCE FUND, FOR THE CALENDAR YEAR 2022,
COMMENCING JANUARY 1, 2022 AND ENDING THE LAST
DAY OF DECEMBER, 2022
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Pueblo Urban Renewal Authority (the “Authority”) fiscal and calendar year
2022 Vendor Fee Budget in the amount of $2,918,439, a copy of which is attached hereto,
is hereby approved.
SECTION 2.
The officers and staff of the City are authorized to perform any and all acts
consistent with this Resolution to implement the policies and procedures described
herein.
SECTION 3.
This Resolution shall become effective immediately upon final passage and
approval.
INTRODUCED December 13, 2021
BY: Robert Schilling
MEMBER OF CITY COUNCIL
APPROVED:
PRESIDENT OF CITY COUNCIL
ATTESTED BY:
CITY CLERK
City Clerk’s Office Item # Q-2
Background Paper for Proposed
Resolution
COUNCIL MEETING DATE: December 13, 2021
TO: President Lawrence W. Atencio and Members of City Council
CC: Mayor Nicholas A. Gradisar
VIA: Marisa Stoller, City Clerk
FROM: Pueblo Urban Renewal Authority
Jerry M. Pacheco, Executive Director
SUBJECT: A RESOLUTION APPROVING THE PUEBLO URBAN RENEWAL AUTHORITY
VENDOR FEE BUDGET IN THE AMOUNT OF TWO MILLION, NINE HUNDRED
EIGHTEEN THOUSAND FOUR HUNDRED THIRTY-NINE DOLLARS
($2,918,439) FOR THE PUEBLO CONVENTION CENTER AND THE MEMORIAL
HALL CAPITAL PROJECTS AND MAINTENANCE FUND, FOR THE CALENDAR
YEAR 2022, COMMENCING JANUARY 1, 2022 AND ENDING THE LAST DAY
OF DECEMBER, 2022
SUMMARY:
This Resolution approves the 2022 Vendor Fee Budget for the Pueblo Convention Center and
the Memorial Hall Capital Projects and Maintenance fund.
PREVIOUS COUNCIL ACTION:
Council approval of the Vendor Fee budget for the Pueblo Convention Center and Memorial Hall
Capital Projects and Maintenance fund is completed annually.
BACKGROUND:
Section 14-4-17 of the City of Pueblo’s Code of Ordinances authorizes the use of the “Vendor
Fee” or 3.3% of City’s sales tax revenue, for the purposes of operations and maintenance of the
Pueblo Convention Center and Memorial Hall, subject to City Council approval.
FINANCIAL IMPLICATIONS:
Approval of the resolution will budget $2,918,439 in 2022 Vendor Fee revenue towards the
following purposes:
Description Amount
Operational Expenses
Maintenance Memorial Hall $ 16,000.00
Operations & Maintenance Subsidy 931,213.00
Asset Management Fee 250,000.00
Other Expenses
Memorial Hall Debt Service – Principal 585,000.00
Memorial Hall Debt Service – Interest 301,462.50
TBD Capital Expenditures 780,214.00
Transfer to Redemption Account 54,549.50
Total $2,918,439.00
BOARD/COMMISSION RECOMMENDATION:
The 2022 Budget was reviewed by the PURA Board and was approved at the Regular Meeting
of the PURA Board of Commissioners on November 9, 2021.
STAKEHOLDER PROCESS:
None.
ALTERNATIVES:
None.
RECOMMENDATION:
Approval of the Resolution.
Attachments:
Proposed Resolution
PURA approved 2022 Vendor Fee budget.
Vendor Fee Fund 98
2022 Budget 2021 Budget
draft Amendment
2021 Budget2020 Actual2019 Actual2018 Actual
hƦĻƩğƷźƚƓğƌ wĻǝĻƓǒĻ
4100Vendor Fees$ 2,918,439.00$ 2,206,850.00$ 2,206,850.00$ 2,315,058.00$ 2,237,636.00$ 2,163,429.00
4020Interest$ -$ -$ -$ 4,605.00$ 27,814.00 $ 22,234.00
Total$ 2,918,439.00$ 2,206,850.00$ 2,206,850.00$ 2,319,663.00$ 2,265,450.00$ 2,185,663.00
hƦĻƩğƷźƚƓğƌ 9ǣƦĻƓƭĻƭ
5001Maintenance Memorial Hall$ 16,000.00 $ 16,000.00 $ 16,000.00 $ 14,470.00 $ 5,399.00
5007Operations&Maintenance Subsidy$ 931,213.00$ 936,706.00$ 936,706.00$ 1,014,844.00$ 803,194.50$ 770,257.00
5007Asset Management Fee$ 250,000.00$ 184,083.98$ 184,083.98$ 184,000.00$ 184,784.00$ 182,302.00
5007Interfund Loan payment to Convention $ -$ 10,397.50 $ 10,397.50 $ 20,795.00$ 20,795.00 $ 20,795.00
5066Interest Expense$ -$ -$ -$ - $ -$ -
5825Miscellaneous$ -$ -$ -$ - $ -$ 54,360.00
Total$ 1,197,213.00$ 1,147,187.48$ 1,147,187.48$ 1,219,639.00$ 1,023,243.50$ 1,033,113.00
hƷŷĻƩ CǒƓķźƓŭ {ƚǒƩĭĻƭ
4053Prior Year Carryover$ -$ -$ -$ 791,672.00$ -$ -
4025Refinancing Proceeds$ -$ 9,875,758.00
4053Redemption Account Excess caryover$ -$ 164,000.00$ 164,000.00$ - $ 400,000.00
Total $ -$ 164,000.00$ 164,000.00$ 10,667,430.00 $ -$ 400,000.00
hƷŷĻƩ 9ǣƦĻƓƭĻƭ
5008Memorial Hall Debt Service Principle$ 585,000.00$ 735,500.00$ 735,500.00$ 12,443,676.00 $ 604,012.50$ 603,513.00
5008Memorial Hall Debt Service Interest$ 301,462.50$ 324,162.52$ 324,162.52$ -
5008Pueblo Convention Center Debt Service Principle$ -$ -$ -$ - $ 459,200.00$ 462,950.00
5008Pueblo Convention Center Debt Service Interest$ -$ -$ -$ - $ -
5817Trustee Fee and Refi COI$ -$ -$ -
5007TBD Capital Expenditures$ 780,214.00$ -$ -$ - $ -$ 400,000.00
Transfer to Redemption Account$ 54,549.50 $ 164,000.00$ 164,000.00$ - $ 1,087.00 $ 86,087.00
Total$ 1,721,226.00$ 1,223,662.52$ 1,223,662.52$ 12,443,676.00 $ 1,064,299.50$ 1,552,550.00
Excess (Loss)$ -$ -$ -$ (676,222.00) $ 177,907.00$ -