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HomeMy WebLinkAbout14828RESOLUTION NO. 14828 A RESOLUTION AUTHORIZING THE TRANSFER OF $400,000 FROM THE 1992-2026 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR THE PURPOSE OF PROVIDING UPKEEP AND MAINTENANCE TO BUILDINGS HELD FOR THE PURPOSE OF JOB CREATING CAPITAL PROJECTS WHEREAS, certain buildings are maintained for the purpose of job creating capital improvement projects; and WHEREAS, additional funds are periodically provided, as necessary, for the costs incurred in maintaining the appearance and integrity of the buildings; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The amount of $400,000 shall be transferred to Project EDBLDG for expenses related to the maintenance and upkeep of City owned buildings. Funds shall be transferred from the Projects to be Determined account within the 1992 – 2021 Sales and Use Tax Capital Improvements Project Fund. SECTION 2. The officers and staff of the City are authorized to perform any and all acts consistent with this Resolution which are necessary or desirable to implement the transactions described therein. SECTION 3. This Resolution shall become effective immediately upon final passage and approval. INTRODUCED: ____March 14, 2022 _ BY: Larry Atencio 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: March 14, 2022 TO: Heather Graham and Members of City Council CC: Mayor Nicholas A. Gradisar VIA: Marisa Stoller, City Clerk FROM: Laura Solano, Chief of Staff SUBJECT: A RESOLUTION AUTHORIZING THE TRANSFER OF $400,000 FROM THE 1992-2026 SALES AND USE TAX CAPITAL IMPROVEMENT PROJECTS FUND FOR THE PURPOSE OF PROVIDING UPKEEP AND MAINTENANCE TO BUILDINGS HELD FOR THE PURPOSE OF JOB CREATING CAPITAL PROJECTS SUMMARY: This Resolution provides additional funding needed for the maintenance and upkeep of buildings used for the purpose of job creating capital projects. PREVIOUS COUNCIL ACTION: Funding for upkeep of buildings has been routinely approved when needed. Funding in the amount of $400,000 was last provided by Resolution 14402, April 27, 2020. BACKGROUND: There are several buildings owned by either the City of Pueblo, Pueblo Development Foundation, or PEDCO, that are held and maintained for the purpose of job creating capital projects. The buildings have been constructed for use by future industrial prospects (shell buildings) or have been vacated by former tenants. The appearance and upkeep of these buildings is of vital importance when presenting them to prospective tenants. In order to maintain the appearance and integrity of the buildings, they require that insurance be carried, utilities remain connected and on, and that general maintenance be done. FINANCIAL IMPLICATIONS: The amount of $400,000 shall be transferred from the Economic Development Half Cent Tax fund to Project EDBLDG for the maintenance and upkeep of City owned buildings. BOARD/COMMISSION RECOMMENDATION: Not applicable. STAKEHOLDER PROCESS: Not applicable. ALTERNATIVES: If this Resolution is not approved, the appearance and integrity of the buildings could be jeopardized. RECOMMENDATION: City staff recommends approval of this Resolution. Attachments: Proposed Resolution