HomeMy WebLinkAboutresolution.council.099-21 RESOLUTION#099
(Series of 2021)
A RESOLUTION OF THE ASPEN CITY COUNCIL APPROVING THE RELEASE THE
COMMUNITY ENHACEMENT FUNDING RECEIVED FROM HOLY CROSS FROM THE
RESERVED FUND BALANCE IN THE GENERAL FUND.
WHEREAS, the Aspen City Council approved Ordinance#11, 1998, granting a franchise to
Holy Cross Energy, and approved Ordinance#44, 2003, a revision to the franchise, and
WHEREAS, said ordinances state that in addition to a 3% franchise fee, Holy Cross will pay a
voluntary 1%of gross revenues to fund a Community Enhancement Fund, and
WHEREAS, these funds are designated for specific programs that are designed to make a
difference in people's lives and the community in which they reside including (1)beautification
projects; (2) energy conservation projects; (3) equipment and technology upgrades for schools;
(4) scholarship funds; (5) acquisition of open space and/or park land and development thereof;
(6) sponsorship of special community events; and(7)undergrounding of overhead electric utility
lines, and
WHERAS,past uses of Community Enhancement funding include energy conservation projects
and a LED lighting upgrade at the Aspen Recreation Center(ARC) and special community
events like the New Year's Eve Celebration and Pro Cycling Challenge', and
WHEREAS, the City has experienced additional qualifying costs over the three-year period
2018-2020 equal to $228,862 associated with the annual New Year's Eve, Fourth of July and
Community Picnic celebrations,
NOW, THEREFOR, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ASPEN
COLORADO, THAT:
Section 1
The Finance Director of the City of Aspen is hereby directed to release the restrictive designation
of the funds held in the reserve account entitled"Community Enhancement Funds" and make all
other accounting steps necessary to release $228,862 of said funds as described in the following
table in the General Fund for 2021.
1 Past resolutions (Res#30 (Series 2011); Res#30 (Series 2014); Res#73 (Series 2018))have
lifted restrictions within the General Fund equal to $1,430,631.
Reso. #099 2021
2018 2019 2020* YTD
Special Community Events
New Year's Eve $49,200 $55,976 $15,410 $120,585
Community Picnic $17,697 $18,378 $0 $36,075
4th of Jul $30,326 $41,876 $0
Expenses of Qualifying Projects $97,223 $116,230 $15,410 $228,862
Carried Balance from Prior Years $10,101 $10,101
Annual Revenue $94,558 $98,653 $97,952 $291,163
Total Funds Available $301,264
Amount Included In Current Reso. $228,862
Remaining Ending Balance ** 1 1 $72,401
*Events cancelled due to public health concerns with COVID pandemic
**Ending balance of$72,401 will be carried forward and eventually can be applied towards
new City Hall energy efficiency installations/upgrades.
INTRODUCED, READ AND ADOPTED by the City Council of the City of Aspen on the 9th
day of November 2021.
Torre, Mayor
I,Nicole Henning, duly appointed and acting City Clerk do certify that the foregoing is a true
and accurate copy of that resolution adopted by the City Council of the City of Aspen, Colorado,
at a meeting held on the 9th day of November 2021.
Nicole Henning, City Clerk