HomeMy WebLinkAboutresolution.council.074-96
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RESOLUTION NO. 7t/
SERIES OF 1996
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
APPROVING THE UPPER VALLEY SHARE OF THE VALLEY RAIL RIGHT-OF-WAY
ACQUISITION COST FROM THE 1/2 CENT TRANSIT SALES AND USE TAXES AND
APPROVING 1997 BUDGETS FOR THE PITKIN COUNTY 1/2 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 gen~ral
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 refme 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 qne-
half 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
WHEREAS, in November of 1993 Pitkin County voters authorized the issuance of up to
$13,650,000 of revenue bonds for the purpose of improving the public mass transportavon
system in the Roaring Fork Valley (the "Revenue Bond Authorization") if such improvements
are authorized by agreement between the Parties; and
WHEREAS, at a public meeting held in Aspen Council Chambers on December 5, 1996,
the Parties considered and approved several projects to be funded in 1997 from the Pitkin County
one-half cent transit sales and use taxes; 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 1996 expenditures and 1~97
budgets on condition that upon the successful acquisition of the rail right-of-way that the one-half
cent use tax revenues will be made available for other transit projects on an equal footing With
projects funded by the one-half cent sales tax revenues; and
WHEREAS, the previously-approved upper-valley share of earnest money ($280,00Q) is
to be considered as included within the total requested from the sales and use tax budgets fori the
upper-valley share of the rail right-of-way purchase ($1,624,000); and
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WHEREAS, the City of Aspen wishes to ratify the approvals given at the December 5th
meeting by adoption of this resolution.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Aspen,
Colorado, that the attached 1996 one-half cent transit sales and use tax expenditures and 1997
one-half cent transit sales and use tax revenue and expenditure budgets are hereby approved.
Furthermore, effective in 1997 and thereafter the one-half cent transit use tax revenues shall be
combined with the one-half cent transit sales tax revenues and both sources of revenue shall be
available for transit projects as agreed upon by the Parties.
1/2% Transit Sales Tax
1996
Expenditure:
D&RGW ROW Acquisition
$1,051,000
1/2% Transit Use Tax
1996
Expenditure:
D&RGW ROW Acquisition
$ 573,000
Total EOTC Share of D&RGW ROW Acquisition
$1,624,000
1/2% Transit Sales Tax
1997
Total Projected Revenues
$2,948,000
Expenditures:
RFT A debt service for 5 buses
Expanded RFT A bus service
Airport intercept lot:
shuttle service by RFT A
maintenance
, Project design, mgmt., and administration
Snowmass transit center design
$ 146,234
818,320
234,453
21,000
106,000
100,000
Total Approved Expenditures
$1,426,007
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1/2% Transit Use Tax
1997
Total Projected Revenues
Expenditures:
Collection Costs
ROW Mgmt. and Planning
Total Approved Expenditures
$ 281,000
$ 35,000
16,800
$ 51,800
RESOLVED, APPROVED, AND ADOPTED this 16th day of December, 1996, by the
City Council for the City of Aspen, Colorado.
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I, Kathryn S. Koch, duly appointed and acting City Clerk do certify that the foregoiIj.g is
a true and accurate copy of that resolution adopted by the City Council of the City of Aspen,
Colorado, at a meeting held December 16, 1996.
1997 Budget Proposal
Pitkin County 1/2% Transit Sales Tax
e Actual Actual Budget Proposed
1994 1995 1996 1997
SOURCES
a) County sales tax 2,455,144 2,526,855 2,666,000 2,826,000
b) Investment income 18,010 38,470 77,000 122,000
Total Sources 2,473,154 2,565,325 2,743,000 2,948,000
USES
1) 5 RFTA buses - debt service 75,554 145,710 146,000 146.234
2) Expanded RFT A bus service 700,000 735,000 772,000 818,320
3) RFTA operating shortfall 146,000 150,000
4) Airport intercept lot constr. 635,376
5) I ntercept lot landscaping 124,102 35,898
6) Intercept lot shuttle service 308,000 218,000 234,453
7) Intercept lot maintenance 20,000 21,000
8) Project design, mgmt, & admin 700,537 38,036 73,560 106,000
9) Aspen reimbursements 65,824 30,000
10) Snowmass transit center design 29,764 120,000 100,000
11) D&RGW ROW acquisition 1,051,000
Total Uses 2,111,467 1,592,436 2,616,458 1,426,007
361,687 972,889 126,542 1,521,993
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ANNUAL SURPLUS/(DEFICIT)
361,687 1,334,576 1,461,118 2,983,111
CUMULATIVE SURPLUS/(DEFICIT)
Notes
Actual/projected increase in sales tax revenue 2.9% 5,5% 6,0';"
De:,," for 1997 proposal:
2': RFT~ requests an increase in it~ funding equal to the actual increase in 1/2% sales tax collections
8) S i 06,000 IS composed of the following: 16,000 financial admin. and insurance
25,000 meeting support and facilitation
15,000 financial consultant
~O,OOO entrance to Aspen design
106,000
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1997 Use Tax Proposal
Pitkin County 1/2% Transit Use Tax
- Actual Actual Estimate ProposE,d
1994 1995 1996 1997
SOURCES:
a) County use tax 208,982 335,456 275,000 275,OUO
tl) Investmant income 4,643 26,757 12,000 6,000
c) Grants 5,000 10,000
Total Sources 213,625 362,213 287,000 281,000
USES:
1) Collaction costs 51,834 35,000 35,000
2) ROW acquisition efforts 42,987 53,864 108,079
3) ROW acqulsi~on 573,000
4) ROW management & planning 16,8'10
Total Uses 42,987 105,698 714,079~ 51,600
ANNUAL SURPLUS/(DEFICIT) 170,638 256,515 (427,079) 229,200
CUMULATIVE SURPLUSI(DEFICIT) 170,638 427,153 74 229,274
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Notes:
- Detail for 1997 proposal:
4) 56% upvaliey share of $30,000: $25,000 1/2-tlme position plus $5,000 materials & training
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