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URA Resolution 2008-06
WHEAT RIDGE URBAN RENEWAL AUTHORITY RESOLUTION NO. 06 Series of 2008 TITLE: A RESOLUTION ENACTING A BUDGET AND APPROPRIATION FOR THE YEAR 2009 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 2009 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 2009 by the Authority on November 18, 2008. THEREFORE, BE IT RESOLVED by the Wheat Ridge Urban Renewal Authority as follows: Section 1. The year 2009 budgets for the two funds as shown on Exhibit 1 and Exhibit 2 attached hereto are hereby approved. The purposes of the 2009 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 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 18th day of November , 2008. WHEAT RIDGE Uk2 AN RENEWAL AUTHORITY Chairman ATTEST: Secretary to the Authori y EXHIBIT 1 WHEAT RIDGE URBAN RENEWAL AUTHORITY Town Center Fund 2007 Actual 2008 Adjusted 2008 10-Month 2008 Estimate 2009 Proposed BEGINNING FUND BALANCE $219,384 $634,201 $634,201 $634,201 $1,083,863 Revenues 37-500-00-501 Property Tax Increment $344,345 $0 $2,223 $2,223 $0 37-500-00-504 Sales Tax Increment $340,917 $260,000 $256,716 $310,000 $300,000 37-580-00-581 Interest $12,706 $10,000 $16,407 $18,000 $15,000 37-580-00-582 Rental Income $0 $0 $32,333 $42,333 $60,000 37-590-00-593 Transfer from Walgreens Fund $0 $0 $0 $488,877 $0 TOTALf1£VENUE . $697968": 70000m " .,-$307,97#3 = 3 3":;` " : - $375Os AO tAVAILABtE`FUNOS 7AT, "$917352`" ',$904,201""i $941,880; - $fi,495,634 $1`,458,863: Personnel 37-120-600-602 Salaries $0 $0 $0 $0 $0 37-120-600-625 FICA $0 $0 $0 $0 $0 Total Personnel $0 Supplies 37-120-650-651 Office Supplies $0 $200 $0 $0 $0 37-120-650-654 Printing & Photocopying $360 $800 $0 $0 $0 37-120-650-655 Postage $0 $200 $0 $0 $0 Total 8u A. es $360:: $b Services 37-120-700-702 Conference & Meetings $330 $2,000 $605 $605 $2,000 37-120-700-706 Dues, Books, Sub $0 $1,000 $275 $275 $500 37-120-700-740 Mileage $0 $0 $0 $0 $0 37-120-700-750 Professional Services $39,282 $96,000 $83,154 $90,000 $75,000 37-120-700-758 City Reimbursement $7,617 $7,000 $0 $112,326 $10,000 37-120-700-760 Utilities & Maint. $604 $600 $478 $578 $600 37-120-700-799 Misc. $1,204 $1,200 $1,169 $1,400 $1,500 Total Services r' $49,037. _.,$107,8"Q0'. $85981.: ;;$205.1$4 Capital 37-120-800-801 Lands. Buildings, & Wat $15,000 $365,000 $157,808 $206,587 $292,674 37-120-800-872 Site Improvements $0 $0 $0 $0 $0 37-120-800-873 Payment to Fire District $18,753 $0 $0 $0 $0 37-120-890-897 Trans to Walgreens Fund $200,000 $0 $0 $0 $0 fotal.Capifai, $233;763` '..1 $365 0fl0 m $157 $0 8 $2065$7 ; $292,87x, TOTAL "€XPENAiTIIRES $283; 50 $474fl00r _ _ ";y $243,4$9?; X411771. $382,274, ENDING FU,NA.ALANCE . " ' $934;202-_.._. z $430 20#= $998,39 083 893_..:?, . _$9 0795$9=. EXHIBIT 2 WHEAT RIDGE URBAN RENEWAL AUTHORITY Wheat Ridge Cyclery Project Fund 2007 Actual 2008 Adjusted 2008 10-Month 2008 Estimate 2009 Adopted BEGINNING FUND BALANCE $ $ - $ - $ - $ - Revenues 37-580-00-501 Property Tax Increment $ - $ - $ 2,936 $ 2,936 $ 15,000 37-580-00-584 Sales Tax Increment $ 184 $ 25,000 $ 10,140 $ 15,000 $ 15,000 37-580-00-581 Interest $ - $ - $ - $ - $ - 37-580-02-588 Sale of Property $ $ $ $ $ TOTAL'REVENUE 184 25,000 13,076 $ `30,D00 TOTAL AVAILABLE.FUNDS $ " 1.8'4':.; 25;000 ? ' 13,p76 - ,-17,936 $ 30,000 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. $ - $ - $ - $ - $ - T,ota1 5ervic,.esv' Capital 37-121-800-801 Acquisition & Relocate $ - $ - $ - $ - $ - 37-121-800-872 Site Improvements $ 184 $ 25,000 $ 13,076 $ 17,936 $ 30,000 37-121-900-901 Loan Payment $ - $ - $ - $ - $ - Tvtl`Capi$..: -n 184..'._ TOTAL EXPENDITURES i84 2S 000= 13 ~~6.T....17x836 ] $A 406v ENDING FUN©-BALANCE' $ $ $ .