HomeMy WebLinkAboutURA Resolution 2008-07WHEAT RIDGE URBAN RENEWAL AUTHORITY ORIGINAL
RESOLUTION NO.7
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 $102,325.73 TO
THE TOWN CENTER FUND FOR THE PURPOSES OF
REIMBURSEMENT TO THE CITY OF WHEAT RIDGE
FOR LEGAL SERVICES FOR THE CORNERSTONE CASE
AND $400,005 TO THE WALGREENS PROJECT FUND
FOR THE PURPOSES OF THE CORNERSTONE CASE
SETTLEMENT
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 fees associated with the Cornerstone
case; 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 December 16, 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 and
Walgreen's Project Fund as shown on Exhibit 1 and Exhibit 2, respectively, attached hereto is
hereby approved. The purposes of the 2008 supplemental appropriation is to increase funds in
Town Center Fund line item 37-120-700-758 by $102,325.73 for reimbursement to the City of
Wheat Ridge for legal services for the Cornerstone case and in Walgreen's Project Fund line item
37-121-700-799 by $400,005 for settlement of the Cornerstone case.
U1Urban Renewal\URA Packet Materials\1151216 Supp Budget Appr Res.dw
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 16th day of December, 2008.
WHEAT RIDGE URBAN RENEWAL
AUTHORITY
C air
ATTEST:
o
y~
Secretary to the Authority
UAUrban Renewal\URA Packet Materials\081216 Supp Budget Appr Res.doc
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Town Center Fund
BEGINNING FUND BALANCE
Revenues
37-500-00-501 Property Tax Increment
37-500-00-504 Sales Tax Increment
37-580-00-581 Interest
EXHIBIT 1
2007 Actual 2008 Adopted 2008 Amended
$219,384 $562,381 $634,201
$344,345 $0 $0
$340,917 $260,000 $260,000
$12,706 $10,000 $10,000
OTALREYENUE., 697,968 .$270,000' '$270,000.
Personnel
37-120-600-602 Salaries $0 $0 $0
37-120-600-625 FICA $0 $0 $0
Supplies
37-120-650-651 Office Supplies
$0
$200
$200
37-120-650-654 Printing & Photocopying
$360
$800
$800
37-120-650-655 Postage
$0
$200
$200
Total Su --Iiea
$:~60
$1,200
$1,200
Services
37-120-700-702 Conference & Meetings
$330
$2,000
$2,000
37-120-700-706 Dues, Books, Sub
$0
$1,000
$1,000
37-120-700-740 Mileage
$0
$0
$0
37-120-700-750 Professional Services
$39,282
$60,000
$96,000
37-120-700-758 City Reimbursement
$7,617
$7,000
$109,326
37-120-700-760 Utilities & Maint.
$604
$600
$600
37-120-700-799 Misc.
$1,204
$1,200
$1,200
Capital
37-120-800-801 Lands. Buildings, & Wat
$15,000
$15,000
$365,000
37-120-800-872 Site Improvements
$0
$0
$0
37-120-800-873 Payment to Fire District
$18,753
$0
$0
37-120-890-897 Trans to Walgreens Fund
$200,000
$0
$0
ENDINGOUNDBALANCE $634,202, $744,381, $327875',
EXHIBIT 2
WHEAT RIDGE URBAN RENEWAL AUTHORITY
Walgreens Project Fund
2007 Actual
2008 Adopted
2008 Amended
BEGINNING FUND BALANCE
$
645,658
$
870,658
$
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
$
10,040
$
12,000
$
12,000
37-580-02-588 Sale of Property
$
-
$
-
$
-
37-590-00-592 Trans from Town Cent Fund
$
200,000
$
-
$
-
TOTAL REVENUE
$
210,040
$
27,000
$
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.
Total Services
Capital
37-121-800-801 Acquisition & Relocate
37-121-800-872 Site Improvements
37-121-900-901 Loan Payment
Total Capital
TOTAL
ENDING FUND BALANCE
$
90
$
100
$
400,105
$
90
$
100
$
400,105
$
90
$
100
$
400,105
$
855,608
$
897,558
$
497,553