HomeMy WebLinkAboutresolution.council.004-03 RESOLUTION NO. 7~ SERIES OF 2003
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
APPROVING THE 2003 EOTC BUDGET FOR THE PITKIN COUNTY 1/2 CENT
TRANSIT SALES AND USE TAXES.
WHEREAS, the Aspen City Council, the Pitkin Coun~:y 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, I993, 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 to the Plan; and
b. that all expenditures and projects to be funded from the County-wide
one-hail cent transit sales and use tax shall be agreed upon by the Parties and
evidenced by a resolution adopted by the governing body of each party; and
WI-IEREAS, at a public meeting held on November 21, 2002, the Parties considered
and approved the attached initial budget for the year 2003 for the Pitkin County one-half
cent transit sales and use tax; and
WHEREAS, the City of Aspen wishes to ratify the approval given at the November
21, 2002 meeting by adoption of this resolution.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Aspen,
Colorado, that the attached initial one-half cent transit sales and use tax budget for the year
2003 is hereby approved as summarized below:
Total Revenues $3,624,437
Total Expenditures $2,027,101
RESOLVED, APPROVED, AND ADOPTED this 27th day of January, 2003, by
the City CounciI for the City of Aspen, Colorado.
Helen K/alin"Kfande~rud, Mayor
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, Colorado, at a meeting held January 27, 2003.
'Kathryn S. Kith;City Clerk
2003 Initial Budget
EOTC Transit Project Funding Total Projected Budget
1994-2001 2002 2003
£OTC SOURCES:
a) Pitkin County 1/2% sales tax 22,785,732 2,932,787 2,786,000
b) Pitkin County 1/2% use tax 3,069,336 450,000 450,000
c) Grants 5,810,000 897,000
d) Investment income & misc. 1,120,055 196,257 297,000
e) Reimbursement of expenditures 53,358 91,437 ROWpre-acquisition cost reirnburserne~t
Total EOTC Sources 32,838,481 4,478,044 3,624,437
EOTC USES:
1 ) RTA contribution (48.04% of 1/2% sales tax beginning 2001) 1,483,084 1,408,911 1,338,400
2) Use tsx collection costs 353,023 76,075 73,000
3) Project design, mgmt, &admin %073,663 28,714 33,76~1
4) Bus stop safety impr~,s / cab ride in-lieu 7,903 16,000 17,000
5) Federal funding consultant 30,000 60,000 ~/2 the cost, not to exceed
6) R FTA capital contributions:
- Aspen bus maintenance facitity roof 225,000
- Bus grant match 250,000
7) RFTA operating shor~atl 696,000 30,000 to continue free Aspen - AABC serwce
8) 5 RFTA buses (debt service '94-00 then assumed by RFTA) 944,361
9) Expanded RFTA bus service to Snowmass & downvalley 5,736,237
10) Snewmass transit center design 511,809
11) Brush Creek Study 135,428
12) Airport intercept lot construction & landscaping 798,063
13) Airport intercept lot shuttle service '95-98 782,885
14) Intercept lot maintenance 44,728
15) Entrance-to-Aspen design/engineering 319,585
16) Aspen reimbursements 113,824
17) Aspen roundabout 90,802
18) ROW pre-acquisition costs 400,240
19) ROW acquisition - EOTC 56% share 1,624,000
20) ROW acquisitio~ - grants 5,593,075
21) RFF~HA budget share 1,552,801
22) RFRHA CIS & enhanced public process contrib. 700,504
23) RFRHAJRTA CIS grant exp 1,198,305 397,000
24) Regional Transit Authority formation planning 125,000
Total EOTC Uses 24,285,300 1,956,700 2,027, I01
EOTC ANNUAL SURPLUS/(DEFICIT) 2,519,344 1,597,336
EOTC CUMULATIVE SURPLUS/(D£FICIT) 8,553,181 11~072,525 12,669,881
Footnotes: 2002 2003
a) Actual/projected increase in sales tax revenue -5,0% -5.0%
d) Projected investment earnings rate 2.0% 2.5%
3) Proiect administration includes:
financial administration and insurance 28,214 32,701
meeting support, facilitation, etc, 500 1,000
28,714 33,701
01/21/2003 halfcent03,xls