Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)
Date Submitted: 7-01-19
Requesting Agency: Finance
Division:
Subject Matter Expert Name:
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Name: Emily Snyder, CPP |
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Email: Emily.snyder@denvergov.org |
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 amending Sections 20-18 and 39-224 of the Denver Revised Municipal Code to establish a new capital improvement fund series 37000 for bond projects and to establish a new capital improvement fund series 36000 to receive transfers and appropriate funds for parks, trails and open space capital projects, as approved by voters through ballot question 2A in the November 2018 General Election.
Amends the Denver Revised Municipal Code (DRMC) to establish a new capital improvement fund series 36000 named the Parks, Trails, and Open Space fund, for the purpose of planning, design, and construction of capital improvements for parks, trails, and open space projects, including land acquisition. The Committee approved filing this item at its meeting on 7-9-19.
body
Affected Council District(s) or citywide? Citywide
Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
In November of 2018, voters of the City and County of Denver voted on and subsequently passed ballot measure 2A increasing the sales and use tax by a rate of .25 percent and dedicating the revenue derived from the tax rate increase to fund Denver parks, trails, and open space projects. Beginning in 2019, the City and County of Denver implemented the incremental sales tax increase and has begun the collection of these revenues to be distributed per the general direction of CB18-0641. Use of these revenues is described in detail in the Parks, Trails, and Open Space Program Plan presented by Denver Parks and Recreation and the Denver City Council in CB19-0538.
Revenues collected via the sales tax levy are collected in an operating special revenue fund 15828. To properly account for capital improvements funded by these these revenues, an annual transfer will occur from the operating special revenue fund into dedicated capital improvement fund series for parks, trails, and open space capital improvements. This request seeks to amend the DRMC to establish a new capital fund series 36000 named the Parks, Trails, and Open Space Capital Improvement Fund for the purposes of receiving these transfers and appropriating funds for to parks, trails and open space capital projects.
Address/Location (if applicable):
Legal Description (if applicable):
Denver Revised Municipal Code (D.R.M.C.) Citation (if applicable):
Draft Bill Attached?