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HomeMy WebLinkAbout10656ORDINANCE NO. 10656 AN ORDINANCE ACCEPTING FUNDS IN THE AMOUNT OF $65,000.00 FROM GOODWIN KNIGHT, LLC SATISFYING DEVELOPER'S OBLIGATION WITH RESPECT TO INSTALLATION OF TRAFFIC CONTROL IMPROVEMENTS AT THE INTERSECTION OF PARKER BOULEVARD AND SPAULDING AVENUE, A CONDITION OF THE "EAST OF PUEBLO BOULEVARD AND SOUTH OF TUXEDO BOULEVARD" ANNEXATION AGREEMENT DATED MAY 25, 2001 AND APPROVED UNDER ORDINANCE NO. 6688; ESTABLISHING PROJECT NO. CI2425 - TRAFFIC CONTROL IMPROVEMENTS AT PARKER AND SPAULDING; AND BUDGETING AND APPROPRIATING $65,000.00 INTO SAID ACCOUNT WHEREAS, City Council approved the Annexation Agreement between the City of Pueblo and Qwanzo, LLC dated May 25, 2001 for the area known as "East of Pueblo Boulevard and South of Tuxedo Boulevard" under Ordinance No. 6688; and WHEREAS, the aforementioned Annexation Agreement requires property owners within the annexed area to construct traffic control improvements at the intersection of Parker Boulevard and Spaulding Avenues; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Project account no. CI2425 - Traffic Control Improvements at Parker and Spaulding is hereby established. SECTION 2. Funds in the amount of $65,000.00 paid to the City of Pueblo by Goodwin Knight, LLC are hereby accepted and the Director of Finance is directed to deposit and budget and appropriate said funds into account no. CI2425 - Traffic Control Improvements at Parker and Spaulding. SECTION 3. The officers and staff of the City are authorized to perform any and all acts consistent with this Ordinance to implement the policies and procedures described herein. SECTION 4. 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 February 12, 2024. Final adoption of Ordinance by City Council on February 26, 2024. APPROVED: PRESIDENT OF CITY COUNCIL Action by the Mayor: ☒ Approved on 02/29/2024 . □ 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 # R3 Background Paper for Proposed Ordinance COUNCIL MEETING DATE: February 26, 2024 TO: President Mark Aliff and Members of City Council CC: Mayor Heather Graham VIA: Marisa Stoller, City Clerk FROM: Andrew Hayes, Public Works Director SUBJECT: AN ORDINANCE ACCEPTING FUNDS IN THE AMOUNT OF $65,000.00 FROM GOODWIN KNIGHT, LLC SATISFYING DEVELOPER'S OBLIGATION WITH RESPECT TO INSTALLATION OF TRAFFIC CONTROL IMPROVEMENTS AT THE INTERSECTION OF PARKER BOULEVARD AND SPAULDING AVENUE, A CONDITION OF THE "EAST OF PUEBLO BOULEVARD AND SOUTH OF TUXEDO BOULEVARD" ANNEXATION AGREEMENT DATED MAY 25, 2001 AND APPROVED UNDER ORDINANCE NO. 6688; ESTABLISHING PROJECT NO. CI2425 - TRAFFIC CONTROL IMPROVEMENTS AT PARKER AND SPAULDING; AND BUDGETING AND APPROPRIATING $65,000.00 INTO SAID ACCOUNT SUMMARY: This Ordinance will accept a payment in the amount of $65,000.00 from Goodwin-Knight, LLC for its obligation to install traffic control improvements at the intersection of Parker Blvd. and Spaulding Ave. The Ordinance also creates a new project account and deposits, budgets and appropriates the developer's funds into that new project account. PREVIOUS COUNCIL ACTION: City Council approved Ordinance No. 6688 on May 29, 2001, approving an Annexation Agreement for the area known as "East of Pueblo Boulevard South of Tuxedo Boulevard", which requires property owners to install traffic control improvements at the intersection of Parker Boulevard and Spaulding Avenue. BACKGROUND: Goodwin Knight, LLC, as owner of property located within the City of Pueblo annexed under the Annexation Agreement dated May 25, 2001 for the area known as "East of Pueblo Boulevard, South of Tuxedo Boulevard", is obligated to install traffic control improvements at the intersection of Parker Boulevard and Spaulding Avenue. Rather than requiring the developer to solely bear the cost of installing said improvements, the City will accept a payment from the developer representing an equitable share of the cost to install a traffic signal and associated improvements at the intersection. The City's acceptance of this payment will satisfy the developer's obligation with respect to the installation of traffic control improvements required under the Annexation Agreement. FINANCIAL IMPLICATIONS: Funds paid by the developer in the amount of $65,000.00 will be deposited and budgeted and appropriated into Account No. CI2425 - Traffic Control Improvements at Parker and Spaulding. BOARD/COMMISSION RECOMMENDATION: None. STAKEHOLDER PROCESS: None. ALTERNATIVES: Failure to approve this Ordinance will preclude the City from accepting the developer's payment for required traffic control improvements. RECOMMENDATION: Approval of the Ordinance. ATTACHMENTS: None