HomeMy WebLinkAbout07631 ORDINANCE NO. 7631
AN ORDINANCE AMENDING THE 2007 CITY BUDGET, BY APPROPRIATING
AND BUDGETING $125,000 FROM THE GENERAL FUND AND TRANSFERING
THOSE FUNDS TO THE CAPITAL PROJECTS FUND, TO ESTABLISH A
PROJECT TO RESTORE THE ADMINISTRATION BUILDING AT THE
GREENWAY AND NATURE CENTER OF PUEBLO,INC.
WHEREAS, the Pueblo Greenway and Nature Center's administration building received
extensive fire damage needing extensive repairs; and
WHEREAS, the land under the administration building which is owned by the Greenway and
Nature Center, and the City of Pueblo carries the insurance on the building, and
WHEREAS, the insurance payment anticipated to be received through the Colorado
Intergovernmental Risk Sharing Agency is expected to be $100,000 plus the City's $25,000 Self
Insured retention (SIR).
NOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
General Fund Revenue Estimates and Expenditure Appropriations shall be increased by
$125,000 of anticipated insurance proceeds and a transfer of SIR from the self- insurance fund,
and shall be appropriated and budgeted in the General Fund for transfer to the Capital Projects
Fund.
SECTION 2.
The Pueblo City Council budgets and appropriates $125,000.00 to provide for a capital
project conducted by the Greenway And Nature Center for the repair and associated costs of the
administration building damaged by the fire.
INTRODUCED July 23. 2007
BY: Randy Thurston
COUNCIL P ON
APPROVED: Wit
PRE DENT OF CITY COUNCIL
ATTESTEDBY: . -- •.� _. t
CITY JERK
PASSED AND APPROVED: August 13. 2007
Ora .1673
.gi®
Background Paper for Proposed
ORDINANCE
AGENDA ITEM # 37
DATE: July 23, 2007
DEPARTMENT: CITY MANAGERS OFFICE
TITLE:
AN ORDINANCE AMENDING THE 2007 CITY BUDGET, BY APPROPRIATING AND
BUDGETING $125,000 FROM THE GENERAL FUND AND TRANSFERING THOSE
FUNDS TO THE CAPITAL PROJECTS FUND, TO ESTABLISH A PROJECT TO
RESTORE THE ADMINISTRATION BUILDING AT THE GREENWAY AND NATURE
CENTER OF PUEBLO,INC.
ISSUE
Should the City Council Increase the General Fund revenue estimates and expenditure
appropriations based on anticipated insurance proceeds and the City's Self Insurance
Retention (SIR) amount to pay for the repair and restoration of the administration
building at the Greenway and Nature Center?
RECOMMENDATION
Approval of the Ordinance.
BACKGROUND
The administration building at the Greenway Nature Center was damaged by fire.
The City of Pueblo, carries the insurance on the building through its policy with the
Colorado Intergovernmental Risk Sharing Agency (CIRSA). CIRSA will pay the City for
the cost of repair and restoration of the building for cost over and above the City's SIR.
The City's General Fund is paying the SIR of $25,000.
The net proceeds received from CIRSA and the SIR will be made available to the
Greenway and Nature Center to make the necessary repairs and restoration to the
administration building.
FINANCIAL IMPACT
The anticipate cost of this project is $125,000, with $100,000 expected to come from
insurance proceeds and $25,000 from the City's General Fund.