HomeMy WebLinkAboutURA Resolution 2004-04
WHEAT RIDGE URBAN RENEWAL AUTHORITY
RESOLUTION NO. 04-
Series of 2004
ORIGINAL
TITLE:
A RESOLUTION APPROVING A SUPPLEMENTAL
BUDGET AND APPROPRIATION FOR 2004 AND
ENACTING A BUDGET AND APPROPRIATION FOR THE
YEAR 2005.
WHEREAS, C.R.S. 29-1-103 (1) of the "Local Government Budget Law of Colorado"
requires certain local governmental entities to prepare and adopt an annual budget; and
WHEREAS, the Attorney for the Authority has opined that the provisions of the Budget
Law do apply to the Authority; and
WHEREAS, notice of adoption of the 2004 supplemental appropriations and budgets
and the 2005 budget and appropriation was given by the Urban Renewal Authority in compliance
with C.R.S. 29-1-106; and
WHEREAS, in compliance with the provisions of the Budget Law regarding notice,
objections, and hearing, a public hearing was held on the Supplemental Budget and
Appropriation for 2004 and the Budget and Appropriation for 2005 by the Authority on
December 7,2004.
THEREFORE, BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority as
follows:
Section 1. The year 2005 budgets for the two funds as shown on Exhibit 1 and Exhibit 2
attached hereto are hereby approved. The purpose of the 2005 budget is to make funds available
for public improvements in connection with any potential urban renewal project and to
appropriate funds for defense of the Authority in legal actions against the Authority.
The year 2004 supplemental budgets and appropriations as shown in the "Supplemental
2004" columns for each fund are hereby approved. The purpose of the supplemental budget is to
increase funds in the Town Center Fund to transfer to the Walgreens Project Fund to fund the
remaining acquisition and relocation settlement agreements with landowners; to increase the
amount appropriated for dues, books, and subscriptions; to increase the amount appropriated for
reimbursement to the City; and decrease the amount appropriated for professional services.
Section 2. Total expenditures of the Authority do not exceed available revenues and
beginning fund balance.
Section 3. A certified copy of this resolution shall be filed with the Division of Local
Government.
ADOPTED the 7th day of December , 2004.
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WHEAT RIDGE URBAN RENEWAL
AUTHORITY
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Chair
ATTEST:
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Secretary to the Authority
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EXHIBIT 1
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Town Center Fund
Actual 2003 Budget 2004 Supp.2004 Budget 2005
BEGINNING FUND BALANCE $ 337,861 $ 159,019 $ 176,245 $ 173,495
Revenues
37-500-00-501 Property Tax Increment $ 237,558 $ 250,000 $ 250,000 $ 263,000
37-500-00-504 Sales Tax Increment $ 15,262 $ 30,000 $ 30,000 $ 45,000
37-580-00-581 Interest $ 4,430 $ 3,000 $ 2,000 $ 2,500
Transfer from Walgreens Project Fund $ $ $ $ 109,722
TOTAL REVENUE $ 257,250 $ 283,000 $ 282,000 $ 420,222
Personnel
37-120-600-602 Salaries $ $ $ $
37-120-600-625 FICA $ $ $ $
Total Personnel $ $ $ $
Supplies
37-120-650-651 Office Supplies $ 12 $ 200 $ 50 $ 200
37-120-650-654 Printing & Photocopying $ $ 1,000 $ 350 $ 800
37-120-650-655 Postage $ $ 300 $ 50 $ 200
Total Supplies $ 12 $ 1,500 $ 450 $ 1,200
Services
37-120-700-702 Conference & Meetings $ .376 $ 1,000 $ 300 $ 1,000
37-120-700-706 Dues, Books, Sub $ 3,290 $ 3,300 $ 3,800 $ 3,800
37-120-700-740 Mileage $ $ $ $
37-120-700-750 Professional Services $ 147,044 $ 40,000 $ 7,000 $ 20,000
37-120-700-758 City Reimbursement $ 11,269 $ 5,000 $ 8,000 $ 5,000
37-120-700-799 Misc. $ 163 $ 200 $ 200 $ 200
Total Services $ 162,142 $ 49,500 $ 19,300 $ 30,000
Capital
37-120-800-801 Acquisition & Relocate $ $ $ $
37-120-800-872 Site Improvements $ $ $
37-120-800-873 Payment to Fire District $ 14,212 $ 16,000 $ 15,000 $ 16,000
37-120-800-872 PTI - Marketplace $ 17,500 $ $ $
37-120-890-897 Trans to Walgreens Fund $ 225,000 $ 200,000 $ 250,000 $ 25,000
Total Capital $ 256,712 $ 216,000 $ 265,000 $ 41,000
TOTAL EXPENDITURES $ 418,866 $ 267,000 $ 284,750 $ 72,200
ENDING FUND BALANCE $ 176,245 $ 175,019 $ 173,495 $ 521,517
2005 Town Center Fund Budget
EXHIBIT 2
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Walgreens Project Fund
ACTUAL 2003 Budget 2004 Supp.2004 Budget 2005
BEGINNING FUND BALANCE $ $175,100 $ 174,872 $ 4,722
Revenues
37-580-00-501 Property Tax Increment $ $ $ $
37-580-00-584 Sales Tax Increment $ $ $ $
37-580-00-581 Interest $ 68 $ $ $
37-580-02-588 Sale of Property $ $ 1,412,000 $ $ 180,000
37-580-01-588 Loan Proceeds $ 562,384
37-590-00-592 Trans from Town Cent Fund $ 225,000 $ 200,000 $ 250,000 $ 25,000
TOTAL REVENUE $ 225,068 $ 2,174,384 $ 250,000 $ 205,000
Services
37-121-700-702 Conference & Meetings $ $ $ $
37-121-700-706 Dues, Books, Sub $ $ $ $
37-121-700-740 Mileage $ $ $ $
37-121-700-750 Professional Services $ $ $ $ 100,000
37-121-700-758 City Reimbursement $ $ $ $
37-121-700-799 Misc. $ 81 $ 100 $ 150 $
Total Services $ 81 $ 100 $ 150 $ 100,000
Capital
37-121-800-801 Acquisition & Relocate $ 10,315 $ 2,140,000 $ 420,000 $
37-121-800-872 Site Improvements $ $ $
37-121-900-901 Loan Payment $ $ 200,000 $ $
Loan Closing Costs $ 39,800 $ $
Transfer to Town Center Fund $ $ $ 109,722
Total Capital $ 50,115 $ 2,340,000 $ 420,000 $ 109,722
TOTAL EXPENDITURES $ 50,196 $ 2,340,100 $ 420,150 $ 209,722
ENDING FUND BALANCE $ 174,872 $9,384 $ 4,722 $
2005 Walgreens Project Fund Budget