HomeMy WebLinkAboutresolution.council.010-00 RESOLUTION NO. lC)
SERIES OF 2000
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN COLORADO.
APPROVING THE 2000 BUDGET FOR THE PITKIN COUNTY l/2 CENT TRANSIT
SALES AND USE TAXES
WHEREAS. the Aspen City Council, the Pitkin County Board of County Commissioners
and the Town Council'of Snowmass Village (the "Parties") have previously identified general
elements of their Comprehensive Valley Transportation Plan (the "Plan") which are eligible for
funding from the Pitkin County one-half cent transit sales and use tax: and
WHEREAS, by intergovernmental agreement dated September 14, 1993. the Parties
agreed:
a. to conduct regular public meetings to continue to refine and agree upon
proposed projects and transportation elements consistent with or complimentary ro
the Plan: and
b. that all expenditures and projects to be funded from the County-wide one-
half cent transit sales and use tax shall be agreed upon by the Pa~ies and
evidenced by a resolution adopted by the governing body of each party; and
..,-~,
WHEREAS, in November of 1993 Pitkin County voters authorized the issuance of up ro
$13.650,000 of revenue bonds for the purpose of improving the public mass transportation
system in the Roaring Fork Valley (the "Revenue Bond Authorization") if such improvements
are authorized by agreement between the Parties; and
WHEREAS, pursuant to voter approval the use tax had to be used first for the acquisition
of the rail right-of-way and then for other transit projects: and
WHEREAS, the Parties desire to approve the attached 2000 budget with the
understanding that upon the successful acquisition of the rail right-of-way in 1997. the one-half
cent use tax revenues became available for other transit projects on an equal footing with projects
funded by the one-half cent sales tax revenues: and
WHEREAS, at public meetings held on October 14. November 11. 1999 and January 13.
2000. the Parties considered and approved (a) the attached requested budget for the year 2000 for
the Pitkin County one-half cent transit sales and use taxes, (b) the proposed budget for the
Roaring Fork Railroad Holding Authority (RFRHA) for the year 2000, and (c) their share of the
RFRHA budget; and
WHEREAS. in approving the RFRHA budget the Parties also approved an advance of up
to $419,567 for RFRHA to request entry into Preliminary Engineering from the Federal Transit
Administration (FTA) until such funds are fully reimbursed from an FTA grant authorized for
federal fiscal year 2000; and
WHEREAS, the Parties approved the deferral for up to three (3) years of the repayment
to the Parties from other members of RFRHA for the $117,458 share of the other members'
costs incurred to negotiate the acquisition of the D&RGW railroad right-of-way (32.5% of
$361,410); and
WHEREAS the $400,000 RFTA operating shortfall line-item in the one-half cent transit
sales and use tax budget was approved contingent upon additional review in June 2000, with the
Parties reserving the right to adjust the mount depending on progress with the formation of the
Rural Transportation Authority, and on the status of 2000 fare revenues and sales tax proceeds.
WHEREAS, by adoption of this resolution, the City Council of the City of Aspen wishes
to ratify the approvals given at the October 14, November i1, 1999 and January 13, 2000
meetings.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Aspen.
Colorado, that the attached 2000 one-half cent transit sales and use tax revenue and expenditure
budgets are hereby approved.
1/2% Transit Sales and Use Tax
2000
Total Projected Revenues $4,782,000
Total Approved Expenditures $2,292,745
RESOLVED, APPROVED, AND ADOPTED this 24th day of January, 2000, by the
City Council for the City of Aspen. Colorado·
· Richards, M~yor
I. Kathryn S Koch, 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,
CotoYa0co( at_g:.,me.eting held January 24. 2000.
Requested Budget for 2000
EOTC Transit Project Funding
Current Requested
1994 1995 1996 1997 1998 1999 2000
EOTC SOURCES:
at ~itkin Count), 1/2% sales tax 2.455.143 2.526.855 2.641,380 2,826,666 3,052.234 3,055.445 3,175,000
D~ =itkin Count), 1/2% use tax 208.982 335.456 299.414 341.193 391.128 419,000 390,000
c] Grants 5.000 5.000 4.600.000 1,000,000
o] Investment income & misc, 22.653 62.177 118.635 131.671 150.284 182,000 217,000
e Reimbursement of expenditures 17.377 10.981 25.000
Total EOTC Sources 2.686.778 2.929,488 3,081,806 7.910.511 3.618.646 3.656,445 4,782,000
EOTC USES
,, 5 RFTA buses - debt service 75,554 145.710 142.884 146,232 143,000 145,828 145,153
2/ Expanded RFTA bus service 700.000 735.000 772,000 826.152 892.081 893,019 927,847
· 3) RFTA opera[rog shortfall 146.000 150,000 400,000
4 Airport intercept lot constr. 635.376
5t Interceot lot landscaping 124.102 38.585
6~ [nterceDt lot shut6e service 308.000 218.000 150.747 106,138
?~ intercept lot maintenance 19.592 9.579 7.830 13,000 13,000
8~ Project des gn, mgmtl & admin 700.537 39.987 63.480 112,679 88,674 42,477 41,124
9~ Ent ra nce-to-Aspen d esign/engineedng 30.080 149.908 138,025
10) Aspen re~mDursemenzs 65.824 30.000 18.000
11 Snowmass transit center design 29.764 87.671 100,000 300,000
12t Use tax collection costs 51.834 15.074 34.400 27.063 60,000 80,500
13'~ ROW acquisition efforts 42,987 53.864 177.787 151.623
141 ROW acquisition - EOTC (56%) 1.624.000
15) ROW acquisition - grams 5.593,075
16~ RFRHA budget share 172.999 396.833 597,848 385,121
17) RFRHA CIS advance 118.125 56.875 (175.000)
18t RFRHA CIS contribution 618.000
19t RFRHAenhanced public process 127.000
~ 20) Moore Open Space appraisal 3.000
21) Regional Transil Authority Plan 75.000
221 Brush Creek Study 125,000
23~ RFTA mit ~ation of roundabout construction up [o 40,000
241 Roundabout loan 1.624,519
Total EOTC Uses 2.154.454 1.700.085 ' 715.073 8.990.691 2,688.402 3.604.716 2,292,745
EOTC ANNUAL SURPLUS/(DEFIClT~ 532.324 1.229.403 1,366.733 1.080,180'~ 930.244 51,729 2,489,255
EOTC CUMULATIVE SURPLUS/(DEFIClT~ 532.324 1.761.727 3.128.460 2,048.280 2.978,524 3.030,253 5,519,508
Notes: see be ow*
Actual projected increase in sales tax revenue 2.9% 4.5% 7.0¥, 5.0% 0,1% 3.9%
Projected inflation rate 2.5% 3.3% 2.3% 1.7¥~ 1.7% 2.0%
Projected investment earnings ram 5.5°~ 5.0°/~ 4.5% 5.0%
"projected sales tax increase for 1999 if one-time revenue from sale of Ritz Carlton Hotel in 1998 is excluded from base 2.0%
exoenditure detail: 1997 1998 1999 2000
9 s composed of the fo owing: 14.099 16,556 17477 16.124 financial admin, and insurance
9.668 21.487 25.000 25.000 meeting support and facilitation
21.962 50,631 [ransoortation linkages workshop 1/2 reimbursed by Aspen Skiing Co.)
30.000 "hatch for Regional Transoortation Partnerships grant
36.950 rail demonstration project
112,679 88.674 42.477 41.124
~oans ou~s[am]mg beyond 2000 amoun[ repayment
ROW pre-acquisition costs 117.458 2001-2003
Roundabout 1,624,519 2004-2005
1.741 977
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