HomeMy WebLinkAbout15846RESOLUTION NO. 15846
A RESOLUTION APPROVING THE PUEBLO URBAN RENEWAL
AUTHORITY VENDOR FEE BUDGET FOR THE PUEBLO
CONVENTION CENTER AND THE MEMORIAL HALL CAPITAL
PROJECTS AND MAINTENANCE FUND, FOR THE CALENDAR
YEAR 2025, COMMENCING JANUARY 1, 2025, AND ENDING
THE LAST DAY OF DECEMBER 2025
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that
SECTION 1.
Budget, a copy of which is attached hereto, is hereby approved.
SECTION 2.
The officers and staff of the City are directed and authorized to perform any and all acts
consistent with the intent of this Resolution to effectuate the policies and procedures described
herein.
SECTION 3.
This Resolution shall become effective immediately upon final passage and approval.
INTRODUCED: December 9, 2024
BY: Brett Boston
MEMBER OF CITY COUNCIL
APPROVED: __________________________
PRESIDENT OF CITY COUNCIL
ATTESTED BY: ________________________
CITY CLERK
City Clerk's Office Item # M13
Background Paper for Proposed
Resolution
COUNCIL MEETING DATE: December 9, 2024
TO: President Mark Aliff and Members of City Council
CC: Mayor Heather Graham
VIA: Marisa Stoller, City Clerk
FROM: Carla Sikes, City Attorney
SUBJECT: A RESOLUTION APPROVING THE PUEBLO URBAN RENEWAL
AUTHORITY VENDOR FEE BUDGET FOR THE PUEBLO
CONVENTION CENTER AND THE MEMORIAL HALL CAPITAL
PROJECTS AND MAINTENANCE FUND, FOR THE CALENDAR YEAR
2025, COMMENCING JANUARY 1, 2025, AND ENDING THE LAST DAY
OF DECEMBER 2025
SUMMARY:
This resolution approves the 2025 Vendor Fee Budget for the Pueblo Convention
Center and the Memorial Hall Capital Projects and Maintenance Fund.
PREVIOUS COUNCIL ACTION:
Council approval of the Vendor Fee Budget for the Pueblo Convention Center and
Memorial Hall Capital Projects and Maintenance Fund is completed annually.
BACKGROUND:
Section 14-4-
evenue, for the purposes of operations and
maintenance of the Pueblo Convention Center and Memorial Hall, subject to City
Council approval.
FINANCIAL IMPLICATIONS:
Approval of the resolution will budget $3,037,007.00 in 2025 Vendor Fee revenue
toward the following purposes:
$885,962.50 for the payment of debt service on the Memorial Hall and Pueblo
Convention Center Bonds ($645,000.00 principle and $240,962.50 interest)
$2,101,083.00 for the Operation and Maintenance of the Pueblo Convention
Center ($1,321,083.00), the Asset Management Fee ($350,000.00), and Capital
repair and maintenance expenditures ($430,000.00);
$20,000 for the Maintenance of the Memorial Hall
$29,961.50 transfer to the Redemption Account
BOARD/COMMISSION RECOMMENDATION:
The 2025 Budget was reviewed by the PURA Board and was approved at the Regular
Meeting of the PURA Board of Commissioners on November 12, 2024.
STAKEHOLDER PROCESS:
None
ALTERNATIVES:
None
RECOMMENDATION:
Approval of the resolution.
ATTACHMENTS:
1. PURA approved 2025 Vendor Fee budget
