Loading...
HomeMy WebLinkAbout07646ORDINANCE NO. 7646 AN ORDINANCE ESTABLISHING CAPITAL PROJECT NO. CP0712 — FY 2007 DILLON DRIVE /1- 25 OVERPASS 1601 STUDY AND BUDGETING AND APPROPRIATING $200,000 FROM THE GENERAL FUND RESERVES AND TRANSFERRING SAID AMOUNT INTO CAPITAL PROJECT NO. CP0712 WHEREAS, growth on the City of Pueblo's north side adjacent to 1 -25 will necessitate the connection of Dillon Drive across and connecting to the interstate at approximately Mile Post 103, and; WHEREAS, the 1601 Study is the first step in the approval process of creating a new interstate interchange and; WHEREAS, City of Pueblo has been approved to receiving grant funding from a federal highway appropriations bill for this project, which will include the 1601 Study, design, and a portion of construction; and WHEREAS, local agencies (City & CDOT) must provide matching funds equaling 20% of the grant total; BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. Funds in the amount of $200,000 shall be transferred from the General Fund Reserves into Capital Project No. CP0712 — FY 2007 DILLON DRIVE /1 -25 OVERPASS 1601 STUDY. SECTION 2. The City of Pueblo and the Colorado Department of Transportation will enter into a contract detailing the scope of services each entity will provide for the study and agreeing upon their respective funding. .qFrTIr)N Study. Funds will be used to contract with an engineering consulting firm to prepare the 1601 INTRODUCED Auaust 13. 2007 BY Randy Thurston Councilperson APPROVED: a u & " e - ) #?ESIDEINTof City Council ATTESTED BY: CITY CLERK PASSED AND APPROVED: Auqust 27, 2007 Ord. �(H(p MEMO= Background Paper for Proposed ORDINANCE AGENDA ITEM # DATE: AUGUST 13, 2007 DEPARTMENT: PUBLIC WORKS DIRECTOR — DANIEL E. CENTA, P.E. TITLE AN ORDINANCE ESTABLISHING CAPITAL PROJECT NO. CP0712 - FY 2007 DILLON DRIVE /1 -25 OVERPASS 1601 STUDY AND BUDGETING AND APPROPRIATING $200,000 FROM THE GENERAL FUND RESERVES AND TRANSFERRING SAID AMOUNT INTO CAPITAL PROJECT NO. CP0712 ISSUE Should City Council authorize the use of funds in the amount of $200,000 to establish a new capital project for a 1601 Study of the Dillon Drive /1 -25 Overpass. RECOMMENDATION Approval of this Ordinance. BACKGROUND Recent growth on the City of Pueblo's north side adjacent to I -25 will necessitate the connection of Dillon Drive across and connecting to the interstate at approximately Mile Post 103. The first step in the process of creating a new interstate interchange is to comply with CDOT's Procedural Directive No. 1601.1, commonly known as a 1601 Study. Funding for this project (1601 Study, design, and construction) has been approved from a Federal Highway Administration (FHWA) SAFETEA -LU grant in the amount of $4,280,000. As a condition of receiving the grant monies, the local agencies (City & CDOT) must provide matching funds equaling 20% of the grant total. A portion of the grant funds will be used to contract with an engineering consulting firm to perform the 1601 Study. FINANCIAL IMPACT This Ordinance will budget and appropriate monies to fund the 1601 Study, which is the first phase of the project. The study will initially be funded from the General Fund Reserves Account, however revenues from the North Pueblo Urban Renewal Project Tax Increment Financing (TIn will be used to reimburse the general fund, subject to approval by the Urban Renewal Authority. It is anticipated that CDOT will also contribute $200,000 for matching funds.