HomeMy WebLinkAbout15591RESOLUTION NO. 15591
A RESOLUTION AUTHORIZING AND APPROVING TRANSFER
OF $3,311,597.29 FROM THE 1992-2026 SALES AND USE TAX
CAPITAL IMPROVEMENT PROJECTS FUND TO PROJECT NO.
ED2402 TO FUND, IN PART, CONSTRUCTION OF THE HARP
CHANNEL EXTENSION AND BOATHOUSE PROJECT, A
REGIONAL TOURISM ACT PROJECT
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that
SECTION 1.
The City finds and determines that the expenditure of $3,311,597.29 for the construction
of the HARP Channel Extension and Boathouse Project, a Regional Tourism Act Project, meets
and complies with the criteria and standards established by Section 14-4-85 of the Pueblo
Municipal Code and will create primary jobs as defined in Section 14-4-85.1(7) of the Pueblo
Municipal Code justifying the expenditure of public funds.
SECTION 2.
Funds in the amount of $3,311,597.29 are hereby authorized to be transferred,
expended, and made available out of the 1992-2026 Sales and Use Tax Capital Improvement
Projects Fund for the construction of the HARP Channel Extension and Boathouse Project.
Funds shall be transferred to Project No. ED2402.
SECTION 3.
The officers of the City are authorized and directed to perform any and all acts
consistent with the intent of this Resolution to effectuate the policies and procedures described
herein
SECTION 4.
This Resolution shall become effective immediately upon final passage.
INTRODUCED: April 8, 2024
BY: Sarah Martinez
MEMBER OF CITY COUNCIL
APPROVED: __________________________
PRESIDENT OF CITY COUNCIL
ATTESTED BY: ________________________
CITY CLERK
City Clerk's Office Item # Q1
Background Paper for Proposed
Resolution
COUNCIL MEETING DATE: April 8, 2024
TO: President Mark Aliff and Members of City Council
CC: Mayor Heather Graham
VIA: Marisa Stoller, City Clerk
FROM: Steven Meier, Director of Parks and Recreation
SUBJECT: A RESOLUTION AUTHORIZING AND APPROVING TRANSFER OF
$3,311,597.29 FROM THE 1992-2026 SALES AND USE TAX CAPITAL
IMPROVEMENT PROJECTS FUND TO PROJECT NO. ED2402 TO
FUND, IN PART, CONSTRUCTION OF THE HARP CHANNEL
EXTENSION AND BOATHOUSE PROJECT, A REGIONAL TOURISM
ACT PROJECT
SUMMARY:
This Resolution authorizes the transfer of $3,311,597.29 from the 1992-2026 Sales and
Use Tax Capital Improvement Projects Fund to Project No. ED2402 HARP Channel
Extension and Boathouse Project.
PREVIOUS COUNCIL ACTION:
On December 10, 2012, by Resolution 12554, City Council acknowledged receipt of the
2012, concerning the dedication of specified state sales tax increment revenue for the
which the HARP channel extension and boathouse were described as Phase II of the
project.
On November 24, 2014, by Ordinance 8801, City Council amended the Half-Cent Sales
Tax Criteria Ordinance to authorize the use of half-
tourism project, approved by the Colorado Economic Development Commission, which
qualifies for state sales tax increment revenue pursuant to the Colorado Regional
Tourism Act, C.R.S. 24-46-301 et seq. By the same Ordinance, City Council amended
the definition of Primary Job
BACKGROUND:
The Pueblo Professional Bull Riders University and Heritage of Heroes Project is a
multi-phased project. The HARP Channel Extension and Boathouse Project (the
project. The project will include demolition of the existing eastern channel terminus,
construction of a new channel eastward to Santa Fe Drive, new and retrofitted utilities,
paving and hardscapes, drainage, site electrical and lighting, landscape improvements,
and the construction of a new two-story building. The building will be used to house
boats and equipment and HARP offices as well as provide a rooftop open area which
can be used for public events.
FINANCIAL IMPLICATIONS:
The total cost of the project is as follows:
PROJECT COSTS
Base Bid Channel $4,212,227.00
Base Bid Boathouse 9,088,834.00
Add Alts #1 7 943,812.00
Sub-total $14,244,873.00
Black Hill Estimate (separate cost) 277,383.73
Sub-total $14,522,256.73
10% Contingency $1,452,225.00
TOTAL PROJECT COST $15,974,481.73
PROJECT REVENUE
County 1A $9,000,000.00
DOLA Grant 1,000,000.00
DOLA Match City GF/Unappropriated fund 1,000,000.00
ARPA Lost Revenue 945,000.00
ARPA Basic Funds 517,884.44
PURA 200,000.00
Sub-total $12,662,884.44
RTA/Sale & Use Tax 3,311,597.29
$15,974,481.73
BOARD/COMMISSION RECOMMENDATION:
Recommend Approval.
STAKEHOLDER PROCESS:
Not applicable to this Resolution.
ALTERNATIVES:
City Council could decide not to authorize the transfer of funds from the 1992-2026
Sales and Use Tax Capital Improvement Projects Fund for payment for construction of
the HARP Channel Extension and Boathouse Project.
RECOMMENDATION:
Approval of this Resolution.
ATTACHMENTS:
None