HomeMy WebLinkAboutURA Resolution 2008-03
WHEAT RIDGE URBAN RENEWAL AUTHORITY
RESOLUTION NO. J
Series of 2008
TITLE:
A RESOLUTION AMENDING THE FISCAL YEAR 2008
URBAN RENEWAL BUDGET TO REFLECT THE
APPROVAL OF A SUPPLEMENTAL BUDGET
APPROPRIATION IN THE AMOUNT OF $386,000 FOR
THE PURPOSES OF EARNEST MONEY, PRINCIPAL AND
INTEREST PAYMENTS, AND CLOSING COSTS FOR THE
PURCHASE OF PROPERTY LOCATED AT 7340 AND 7540
WEST 44TH AVENUE
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 supplemental appropriation and budget was
given by the Urban Renewal Authority in compliance with C.R.S. 29-1-106; and
WHEREAS, the Authority previously adopted an appropriation for 2008 on December
11,2007, which appropriation must be modified for the purchase of the property located at 7340
and 7540 West 44th Avenue; 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 2008 on April 1 , 2008.
THEREFORE, BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority as
follows:
Section 1. The year 2008 supplemental appropriation for the Town Center Fund as shown
on Exhibit 1 attached hereto is hereby approved. The purposes ofthe 2008 supplemental
appropriation is to increase funds in Town Center Fund line item 37-120-800-801 by $150,000
for earnest money and $200,000 for principal and interest payments; and in Town Center Fund
line item 37-120-700-750 by $36,000 for closing expenses for the purchase of property located at
7340 and 7540 W. 44th Ave.
Section 2. Total expenditures of the Authority do not exceed available revenues and
beginning fund balance.
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Section 3. A certified copy of this resolution shall be filed with the Division of Local
Government.
'>1"
ADOPTED the L day of April , 2008.
WHEAT RIDGE URBAN RENEWAL
AUTHORITY
~~~
Chair
ATTEST:
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EXHIBIT 1
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Town Center Fund
2007 Actual 2008 Adopted 2008 Amended
BEGINNING FUND BALANCE $219,384 $562,381 $634,201
Revenues
37-500-00-501 Property Tax Increment $344,345 $0 $0
37-500-00-504 Sales Tax Increment $340,917 $260,000 $260,000
37-580-00-581 Interest $12,706 $10,000 $10,000
Personnel
37-120-600-602 Salaries
37-120-600-625 FICA
$0
$0
Supplies
37-120-650-651 Office Supplies
37-120-650-654 Printing & Photocopying
37-120-650-655 Postage
$0
$360
$0
$0
$0
$200
$800
$200
$0
$0
$200
$800
$200
Services
37-120-700-702 Conference & Meetings
37-120-700-706 Dues, Books, Sub
37-120-700-740 Mileage
37-120-700-750 Professional Services
37-120-700-758 City Reimbursement
37-120-700-760 Utilities & Main!.
37-120-700-799 Misc.
$330
$0
$0
$39,282
$7,617
$604
$1,204
$2,000
$1,000
$0
$60,000
$7,000
$600
$1,200
$2,000
$1,000
$0
$96,000
$7,000
$600
$1,200
Capital
37-120-800-801 Lands. Buildings, & Wat
37-120-800-872 Site Improvements
37-120-800-873 Payment to Fire District
37-120-890-897 Trans to Walgreens Fund
$15,000
$0
$18,753
$200,000
$15,000
$0
$0
$0
$365,000
$0
$0
$0