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HomeMy WebLinkAbout7627RESOLUTION NO. 7627 A RESOLUTION ACCEPTING AND AFFIRMING THE CITY OF PUEBLO'S INTENTION TO USE THE FINANCIAL ASSISTANCE AWARD FOR PROJECT NO. 05 -01 -02760 FROM THE ECONOMIC DEVELOPMENT ADMINISTRATION IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE AWARD AND AUTHORIZING THE PRESIDENT OF THE CITY COUNCIL TO EXECUTE SAME WHEREAS, City Council Resolution No. 7590 approved an application for $1.5 million submitted to the Economic Development Administration (EDA) for the Pueblo Municipal Parking Structure and designating the City Manager as the City's representative to act in connection with the application; and WHEREAS, City Council Ordinance No. 5961 approved the financing of the acquisition, construction and equipping of a parking facility and the authorization and approval of a ground lease agreement, a lease purchase and sublease agreement, a mortgage and indenture of trust, a certificate purchase agreement, a private placement memorandum and other related documents and actions in connection with issuance of certain Certificates of Participation in an aggregate principal amount not to exceed $1,220,000; and WHEREAS, the City of Pueblo, Colorado Municipal Building Corporation, a Colorado nonprofit corporation and the lessor of the Pueblo Municipal Building Structure under lease with the City of Pueblo has joined in the application for $1.5 million submitted to the Economic Development Administration for the Pueblo Municipal Parking Structure, as co- applicant; and WHEREAS, on April 28, 1995, the City received notice from the Economic Development Administration of an approved Financial Assistance Award in an amount not to exceed $1.5 million for the construction of a municipal parking facility, Project No. 05 -01- 02760; NOW THERFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PUEBLO, COLORADO, that: SECTION 1: The City accepts and affirms its intention to use the Financial Assistance Award to the City of Pueblo and the City of Pueblo, Colorado Municipal building Corporation, as co- applicants from the Economic Development Administration, Project No. 05 -01- 02760, for a municipal parking facility in accordance with the terms and conditions of the award. SECTION 2: The City certifies that the non - federal share of the project costs is committed and is available as needed for the project from the issuance of Certificates of Participation, pursuant to Ordinance No. 5961 and the Indenture, in an aggregate principal amount not to exceed $1,220,000, and that the non - federal share is from sources which can be used as match for the EDA project and that the non - federal share will not affect ownership of, or title to, the project facilities. SECTION 3: The President of City Council is hereby authorized to execute the Financial Assistance Award in the name of and behalf of the City. INTRODUCED: May 8, 1995 BY: John Califano COUNCIL PERSON Z R ED: 2kp_'ae%� PRESIDENT OF THE CITY COUNCIL ATTEST A(_+; 5 C Y CLERK row W450 U.S. DEPARTMENT OF COMMERCE 1n »cv i. - i ® GRANT ❑ COOPERATNE AGREEMENT ..2032. FINANCIAL ASSISTANCE AWARD ACCOUNTING CODE RECIPIENT NAME AWARD NUMBER City of Pueblo 05 -01 -02760 RECIPIENT NAME City of Pueblo Colorado Municipal Building Corporation STREET ADDRESS FEDERAL SHARE OF COST No. 1 City Hall Place $1,500,000 CITY, STATE ZIP CODE RECIPIENT SHARE OF COST Pueblo, Colorado 81003 $1,120,360 AWARD PERIOD TOTAL ESTIMATED COST From date of approval to months after approval $2,620,360 DEPARTMENT OF COMMERCE OPERATING UNIT Economic Development Administration AUTHORITY (42 U.S.C. 3121, et. seq.) Public Works and Economic Development Act of 1965, as amended PROJECT TITLE: Construction of a municipal parking facility in the City of Pueblo This Award approved by the Grants Officer is issued in duplicate and constitutes an obligation of Federal funding. By signing the two documents, the Recipient agrees to comply with the Award provisions checked below. Upon acceptance by the Recipient, one signed Award document shall be returned to the Regional Director and the second document shall be retained by the Recipient. If not signed and returned by the Recipient within 15 days of receipt, the Grants Officer may declare this Award null and void. ® EDA Standard Terms and Conditions -- Construction Program, dated August, 1994 ® Special Award Conditions ® Line Item Budget ® 15 CFR Part 24, Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments ® OMB Circular A -87, Cost Principles for State and Local Governments ® 15 CFR Part 29a, Audit Requirements for State and Local Governments ❑ OMB Circular A -110, Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Nonprofit Organizations Uniform Administrative Requirements ❑ OMB Circular A -122, Cost Principles for Nonprofit Organizations ❑ OMB Circular A -21, Cost Principles for Educational Institutions ❑ 15 CFR Part 29b, Audit Requirements for Institutions of Higher Education and Other Nonprofit Organizations ❑ 48 CFR Part 31, Contract Cost Principles and Procedures ❑ Other(s): SIGNATURE OF QPRARTMENT OF COMMERCE GRANTS OFFICER TITLE DATE �V� �V April 27, 1995 Regional Director r � 1 FOWCM450 U.S. DEPARTMENT OF COMMERCE PAGE 2 IREV 10 -93) DOA 203.26 FINANCIAL ASSISTANCE AWARD TYPED NAME AND SIGNATURE OF AUTHORIZED RECIPIENT OFFICIAL TITLE DATE PRESIDENT PUEBLO CITY COUNCIL MAY 8, 1995 TYPED NAME AND SIGNATURE OF AUTHORIZED RECIPIENT OFFICIAL TITLE PRESIDENT DATE CITY OF PUEBLO, COLORADO, MUNICIPAL BUILDING CORP. MAY 8, 1995