HomeMy WebLinkAboutresolution.council.019-24RESOLUTION #Ol9
(Series of 2024)
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 #011, 1998, granting a franchise to
Holy Cross Energy, and approved Ordinance #044, 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 Challenger, and
WHEREAS, the City has experienced additional qualifying costs over the three-year period
2021-2023 equal to $75,000 associated with the East Aspen Underground electric utility project,
and $217,777 on community events such as the new year's eve celebration, community picnic
and 4th of July festivities.
NOW, THEREFORE, 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 $292,777 of said funds in the General Fund for 2024
as reimbursement towards the qualifying East Aspen Underground electric utility project.
1 Past resolutions (Res #30 (Series 2011); Res #30 (Series 2014); Res #73 (Series 2018)) Res #99
(Series 2021) have lifted restrictions within the General Fund equal to $1,659,493.
INTRODUCED, READ AND ADOPTED by the City Council of the City of Aspen on the 12th
day of March 2024,
Torre, Mayor
I, Nicole Henning, duly appointed and acting City Clerk of the City of Aspen, do hereby certify
that the foregoing is a true and accurate copy of the resolution adopted by the City Council at its
meeting held on the 12th day of March 2024.
Nicole Henning, City Clerk