Finance Item/Grant Request Template
Date Submitted: 4-8-19
Requesting Agency: Finance
Division:
Subject Matter Expert Name:
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Name: Emily Snyder |
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Email: Emily.Snyder@denvergov.org |
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Phone: 720-913-5051 |
Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).
Both the title and description must be entered between the red “title” and “body” below. Do not at any time delete the red “title” or “body” markers from this template.
title
A bill for an ordinance authorizing transfers from the Gateway Impact Fee Trust Funds to the Capital Improvements and Capital Maintenance Fund and making appropriations in the Capital Improvements and Capital Maintenance Fund to support the Gateway Infrastructure projects.
Transfers and appropriates $7,700,293 from the Gateway Impact Fee Trust Funds to the Capital Improvements and Capital Maintenance Fund to support the Gateway Regional Infrastructure projects, including contract obligations, roadway and median projects, and other projects for parks and drainage improvements, in Council District 11. The Committee approved filing this item at its meeting on 4-16-19.
body
Affected Council District(s) or citywide? Council District 11
Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
In 2000, the City implemented the Gateway Impact Fee Area and associated list of eligible impact fee projects. The fee is imposed upon development to pay the costs of regional infrastructure improvements in four main categories: transportation, drainage, fire, and trails/parks. In many circumstances, as development progresses, it is more efficient to have the private developer or partner organizations construct the regional infrastructure improvements as part of their development project. When this occurs, the City contracts with the private developer for the use of the impact fees. Other times, the City will pursue completion of an eligible impact fee project directly.
This ordinance request seeks to transfer and appropriate $7,700,293 from various Gateway Impact Fee Trust Funds to the Capital Improvement Fund for payment of contract obligations, roadway and median projects, and other projects for parks and drainage improvements. Of the $7.7M, $4M is for payment of existing or upcoming contract obligations (see attached summary), $3M is for roadway and median projects, and $700k is for future parks and drainage improvements.
This ordinance will transfer the Gateway Impact Fee Trust Funds into the Capital Improvement Fund as follows:
Fund Name Amount
56289 GRMD Projects $5,116,300
56291 Gateway Impact Fee: Parks $592,445
56295 High Point Metro District Projects $416,830
56301 Gateway Impact Fees Rd Area #1 $1,033,500
56302 Gateway Impact Fees Rd Area #2 $52,490
56303 Gateway Impact Fees Rd Area #3 $50
56304 Gateway Impact Fees Drng Irondale $143,605
56305 Gateway Impact Fees Drng 1st Creek $344,860
56306 Gateway Impact Fee Drng 2nd Creek $213
$7,700,293
This ordinance will appropriate the Capital Improvement Fund capital funding as follows:
Fund Org Project Number Project Name Amount
31050 5000000 PJ100_01 Gateway Regional Infrastructure $6,619,170
31050 5000000 PJ100_02 Gateway Regional Infrastructure: Drainage $488,678
31050 5000000 PJ100_03 Gateway Regional Infrastructure: Parks $592,445
$7,700,293
Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other):
Amount:
Budget Year:
Fund and Funding Source (Fund/Org/Grant Number, if applicable):
Grantor (if applicable):
Fund Matching Requirements (if applicable):
Fiscal Impact: