Finance Item/Grant Request Template
Date Submitted: 1/24/22
Requesting Agency: DoF/BMO
Division:
Subject Matter Expert Name: Kiki Turner
Email Address: Kiki.Turner@denvergov.org
Phone Number:
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 establishing a new Fund in the General Government Special Revenue Fund Series for the “Green Building” program and authorizing a cash transfer from the Green Building Capital Fund to the new Green Building SRF.
Approves creating a new Green Building Program Special Revenue Fund in the General Government SRF series and authorizes a cash transfer from the Green Building Capital Fund to the Green Building Program SRF. The Committee approved filing this item at its meeting on 2-1-22.
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.
This request authorizes creating the “Green Building Program” Special Revenue Fund, accounting number 11885, in the General Government series. SRF 11885 will be revenue-based and non-lapsing, and the expending authority will be the Executive Director of The Office of Climate Action, Sustainability and Resiliency (CASR.) This new Green Building Program SRF will serve as the primary Green Building Fund, including receiving the developer fee revenue, fulfilling the fund requirement in CB18-1134 that amended the DRMC after the Initiated Ordinance 300 passed.
Because all developer payments collected were previously deposited into Capital Fund 38604, this request also authorizes a cash transfer from Capital Fund 38604 in the amount of $350,000 to the new Green Building Program SRF (this will leave a balance of approximately $449,300 in the Capital Fund.)
A companion ordinance request to amend CB18-1141 has also been submitted, which revises the allowable revenue in 38604 to accept cash transfers from the new Green Building Program SRF. Note these changes are better aligned with current budget practices.
Additional Background: In 2017, voters approved Initiated Ordinance 300, which was subsequently amended by City Council in 2018 via CB18-1134 that repealed and reenacted Article VIII of Chapter 10 of the DRMC, the Green Building Ordinance. Council Bill 1141, Series 2018 created the Green Building Fund (Capital Fund 38604) to receive developer payments--fees in-lieu of compliance with the Green Building Ordinance and to administer the Green Building program. This program recently moved from the Department of Public Health and Environment to the Office of Climate Action, Sustainability, and Resiliency, and CASR desires to utilize contracts to provide services and to make other operating expenditures in order to carry out the allowable uses as defined by the Green Building Ordinance. For example, this change would allow CASR to spend program funds to install solar on low income homes-an activity that furthers the Green Building Ordinance goals but is not an allowable expense within city Capital Funds. Thus, a new Special Revenue Fund is required.
Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other): Fund creation and transfer
Amount:
Budget Year:
Fund and Funding Source (Fund/Org/Grant Number, if applicable):
Grantor (if applicable):
Fund Matching Requirements (if applicable):
Fiscal Impact: