HomeMy WebLinkAboutURA Resolution 2007-05
WHEAT RIDGE URBAN RENEWAL AUTHORITY
RESOLUTION NO. 05
Series of 2007
TITLE:
A RESOLUTION ENACTING A BUDGET AND
APPROPRIATION FOR THE YEAR 2008.
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 2008 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 Budget and Appropriation for 2008 by the
Authority on December 11,2007.
THEREFORE, BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority as
follows:
Section 1. The year 2008 budgets for the three funds as shown on Exhibit 1, Exhibit 2, and
Exhibit 3 attached hereto are hereby approved. The purposes of the 2008 budget is to make funds
available for normal operating expenses, to appropriate funds for defense of the Authority in legal
actions against the Authority, and to provide tax increment funding for an urban renewal project in
the urban renewal area. Sources of funds for the Authority are property tax increment and sales tax
increment generated by the urban renewal area.
Section 2. Total expenditures ofthe 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 11th day of December ,2007.
WHEAT RIDGE URBAN RENEWAL AUTHORITY
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EXHIBIT 1
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Town Center Fund
2006 Actual 2007 Adopted 2007 Estimated 2008 Proposed
BEGINNING FUND BALANCE $ 122,792 $ 226,615 $ 219,384 $ 562,381
Revenues
37-500-00-501 Property Tax Increment $ 233,050 $ 240,000 $ 336,847 $
37-500-00-504 Sales Tax Increment $ 200,000 $ 100,000 $ 260,000 $ 260,000
37-580-00-581 Interest $ 3,585 $ 3,500 $ 12,000 $ 10,000
TOTAL REVENUE $ 436,635 $ 343,500 $ 608,847 $ 270,000
Personnel
37-120-600-602 Salaries $ $ $ $
37-120-600-625 FICA $ $ $ $
Total Personnel $ $ $ $
Supplies
37-120-650-651 Office Supplies $ 52 $ 200 $ 100 $ 200
37-120-650-654 Printing & Photocopying $ $ 800 $ 400 $ 800
37-120-650-655 Postage $ $ 200 $ $ 200
Total Supplies $ 52 $ 1,200 $ 500 $ 1,200
Services
37-120-700-702 Conference & Meetings $ $ 1,200 $ 300 $ 2,000
37-120-700-706 Dues, Books, Sub $ 250 $ 3,800 $ 275 $ 1,000
37-120-700-740 Mileage $ $ $ $
37-120-700-750 Professional Services $ 18,822 $ 60,000 $ 38,000 $ 60,000
37-120-700-758 City Reimbursement $ 7,227 $ 5,000 $ 5,000 $ 7,000
37-120-700-760 Utilities & Main!. $ 529 $ 500 $ 575 $ 600
37-120-700-799 Misc. $ 457 $ 200 $ 1,200 $ 1,200
Total Services $ 27,285 $ 70,700 $ 45,350 $ 71,800
Capital
37-120-800-801 Lands. Buildings, & Wat $ $ 20,000 $ $ 15,000
37-120-800-872 Site Improvements $ $ $ $
37-120-800-873 Payment to Fire District $ 12,707 $ 16,000 $ 20,000 $
37-120-800-872 PTI- Marketplace $ $ $ $
37-120-890-897 Trans to Walgreens Fund $ 300,000 $ 200,000 $ 200,000 $
Total Capital $ 312,707 $ 236,000 $ 220,000 $ 15,000
TOTAL EXPENDITURES $ 340,044 $ 307,900 $ 265,850 $ 88,000
ENDING FUND BALANCE $ 219,383 $ 262,215 $ 562,381 $ 744,381
EXHIBIT 2
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Walgreens Project Fund
2006 Actual 2007 Adopted 2007 Estimated 2008 Proposed
BEGINNING FUND BALANCE $ 339,030 $ 643,939 $ 645,658 $ 870,658
Revenues
37-580-00-501 Property Tax Increment $ $ $ $
37-580-00-584 Sales Tax Increment $ $ $ 15,000 $ 15,000
37-580-00-581 Interest $ 6,724 $ 5,000 $ 10,000 $ 12,000
37-580-02-588 Sale of Property $ $ $
37-590-00-592 Trans from Town Cent Fund $ 300,000 $ 200,000 $ 200,000 $
TOTAL REVENUE $ 306,724 $ 205,000 $ 225,000 $ 27,000
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 $ $ $ $
37-121-700-758 City Reimbursement $ $ $ $
37-121-700-799 Misc. $ 95 $ $ 100 $ 100
Total Services $ 95 $ $ 100 $ 100
Capital
37-121-800-801 Acquisition & Relocate $ $ $ $
37-121-800-872 Site Improvements $ $ $ $
37-121-900-901 Loan Payment $ $ $ $
Total Capital $ $ $ $
TOTAL EXPENDITURES $ 95 $ $ $
ENDING FUND BALANCE $645,659 $ 848,939 $ 870,658 $ 897,658
EXHIBIT 3
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Wheat Ridge Cyclery Project Fund
2007 Adopted 2007 Estimated 2008 Proposed
BEGINNING FUND BALANCE $ $ $
Revenues
37-580-00-501 Property Tax Increment $ $ $
37-580-00-584 Sales Tax Increment $ 24,000 $ 2,000 $ 25,000
37-580-00-581 Interest $ $ $
37-580-02-588 Sale of Property $ $ $
TOTAL REVENUE $ 24,000 $ 2,000 $ 25,000
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 $ $ $
37-121-700-758 City Reimbursement $ $ $
37-121-700-799 Misc. $ $ $
Total Services $ $ $
Capital
37-121-800-801 Acquisition & Relocate $ $ $
37-121-800-872 Site Improvements $ 24,000 $ 2,000 $ 25,000
37-121-900-901 Loan Payment $ $ $
Total Capital $ 24,000 $ 2,000 $ 25,000
TOTAL EXPENDITURES $ 24,000 $ 2,000 $ 25,000
ENDING FUND BALANCE $ $ $