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HomeMy WebLinkAbout07819ORDINANCE NO. 7819 AN ORDINANCE INCREASING THE 2008 APPROPRIATION TO THE HARP AUTHORITY AND BUDGETING AND APPROPRIATING THE AMOUNT OF $45,000 FROM THE HARP LAND SALES FUND THEREFOR WHEREAS, the HARP Authority has requested additional funds in the amount of $25,000 to pay for the cost of relocation of the Confluence Fountain, as well as $20,000 in additional funds for the balance of development incentives for Lots 3 and 4 on the Riverwalk; therefore, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1: The amount of $45,000 is hereby budgeted and appropriated from the fund balance of the HARP Land Sales fund for payment to the HARP Authority. SECTION 2: This Ordinance shall be effective immediately upon passage. INTRODUCED May 27, 2008 Background Paper for Proposed ORDINANCE AGENDA ITEM # 1 0 DATE: May 19, 2008 DEPARTMENT: OFFICE OF THE CITY MANAGER DAVID J. GALLI, CITY MANAGER DOUGLAS M. FITZGERALD, ASSISTANT CITY MANAGER TITLE AN ORDINANCE INCREASING THE 2008 APPROPRIATION TO THE HARP AUTHORITY AND BUDGETING AND APPROPRIATING THE AMOUNT OF $45,000 FROM THE HARP LAND SALES FUND THEREFOR ISSUE Should the City Council approve an additional appropriation in the amount of $45,000 for the HARP Authority? RECOMMENDATION Approval of the Ordinance BACKGROUND The HARP Authority is responsible for the operation and maintenance of the Historic Arkansas Riverwalk of Pueblo. The Authority has requested additional funds in the amount of $45,000. Of this amount, $25,000 is to pay for expenses related to the relocation of the Confluence Fountain located across from the Xcel Energy amphitheater. The original construction of the fountain caused the mechanical room to flood regularly. It was determined that the fountain should be relocated and the mechanical room reconstructed with a different design. The amount of $20,000 is requested as the remaining balance needed for development incentives for Lots 3 and 4 on the Riverwalk. The initial payment of $20,000 for these incentives is included in City's 2008 budget. For additional details regarding this request, a copy of the Memo of May 19, 2008, from Steve Arveschoung, HARP Authority, to the City Council is included herewith. FINANCIAL IMPACT The amount of $45,000 will be taken from the fund balance of the HARP Land Sales fund.