HomeMy WebLinkAboutResolution 2014-0043CITY OF WHEAT RIDGE , COLORADO
RESOLUTION NO . 43
Series of 2014
TITLE : A RE SO L UTION AMENDING THE FISCAL YEAR 2014 GENERAL
FUND BUDGET TO REFLECT THE APPROVAL OF A
SUPPLEMENTAL BUDGET APPROPRIATION IN THE AMOUNT
OF $37,000 FOR THE PURPOSE OF FUNDING CURRENT
ENHANCED SALES TAX INC ENTIVE PROGRAM AGREEMENTS
PAYM ENT S
WHEREAS , the City has adopted as a portion of the Wheat Ridge Code of Laws
("Code") Chapter 22 , Division 4, "Enhanced Sales Tax Incentive Program " (ESTIP) to
encourage, in part , continued development and expansion of opportunities for employment in
the private sector in the City ; and
WHEREAS, the City Council approved ESTIP agreements with Walrus 5560 , The
Dillon Companies , Colorado Plus Liquid Art Works , Muscle Masster, and A Taste of Home
Cooking to rebate back portions of sales tax increment generated from these businesses ;
and
WHEREAS , sales tax i ncrement revenues have exceeded budget appropriations ; and
W HEREAS , increased funding in the General Fund budget is necessary to meet the
2014 ESTIP payment obligations.
NOW, TH EREFORE, B E IT RESOLVED by the City Council of the City of Wheat
Ridge , Colorado, as follows :
A. The City Council authorizes a supplemental budget appropriation in the amount
of $37,000 from the General Fund undesignated reserves to account number 01-
105-700-719 and amendment of the 2014 fiscal year revenues accordingly .
DONE AND RESO LVED this 28th day of July, 2014 .
ATTEST:
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neiieshaver, City Clerk