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RESOLUTION NO. ~ S-
SERIES OF 1996
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
APPROVING SUPPLEMENTAL BUDGETS FOR THE 1/2 CENT TRANSIT SALES AND
USE TAX FOR 1997
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 to
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 Parties and
evidenced by a resolution adopted by the governing body of each party; and
WHEREAS, at a public meeting held on August 6, 1997, the Parties considered and
approved the expenditure of $30,000 to match a Regional Transportation Partnerships grant,
$36,400 for a rail demonstration project, $18,000 to reimburse the City of Aspen for the cost of
producing the Roaring Fork Valley Rail Project briefing book, $100,000 for costs associated
with the acquisition of the valley railroad right-of-way from Union Pacific, $169,962 for the
Parties' share of the 1997 Roaring Fork Railroad Holding Authority budget, and $6,000 for an
appraisal of the portion of the Moore Open Space parcel to be acquired for transit purposes; and
WHEREAS, the City of wishes to ratify the budget approvals given at the previous public
meeting of the Parties by adoption of this resolution.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Aspen,
Colorado, that the following supplementa11997 one-half cent transit sales and use tax
expenditure budgets are hereby approved.
Expenditures:
Regional Transportation Partnership
Rail demonstration project
Aspen reimbursements
Valley railroad ROW acquisition efforts
RFRHA budget share
Moore open space appraisal
$ 30,000
36,400
18,000
100,000
169,962
6,000
Total Supplemental Expenditures
$ 360,362
RESOLVED, APPROVED, AND ADOPTED this ~day of August, 1997, by the
City Council for the City of Aspen, Colorado.
~t5~
~. Bennett, 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 August ~ 1997.
Short-term Forecast
EOTC Transit Project Funding
EOTC SOURCES:
a) Pitkin County 1/2% sales tax
b) Pitkin County 1/2% use tax
c) GOCO grant
d) Investment income & misc.
e) Reimbursement of expenditures
Total EOTC Sources
2,455,143 2,526,855
208,982 335,456
5,000
22,653 62,177
2,686,778 2,929,488
Actual
1996
2,641,380
299,414
5,000
118,635
17,377
3,081,806
urrent
Budget
1997
1997
2 826 000 .i!.!i.i.iZ.H8li!.... "...'i.Mn ;'............'......".0.... 2 967 000
, , ,::::'h:-,.~!E~~L", t ,
275,000 275,000 283,250
1,000,000 1,000,000
128,000 1~i~:'~j_ 138,000
15,000 15,000
4,244,000 4,215,000 3,388,250
3,115,000
291,748
1,000,000
265,000
117,458
4,789,206
/-
EOTC USES:
1) 5 RFT A buses - debt service
2) Expanded RFT A bus service
3) RFTA operating shortfall
4) Airport intercept lot constr.
5) Intercept lot landscaping
6) Intercept lot shuttle service
7) Intercept lot maintenance
8) Project design, mgmt, & admin
9) Aspen reimbursements
10) Snowmass transit center design
11) Use tax collection costs
12) ROW acquisition efforts
13) ROW acquisition - EOTC (56%)
14) ROW acquisition - GOCO .
15) RFRHA budget share
16) Moore Open Space appraisal
fotal EOTC Uses
2,154,454
75,554
700,000
635,376
700,537
42,987
145,710 142,884
735,000 772,000
146,000 150,000
124,102 38,585
308,000 218,000
19,592
39,987 63,480
65,824 30,000
29,764 87,671
51,834 15,074
53,864 177,787
1,700,085
1,715,073
146,234
818,320
146,234
818,320
143,000
859,236
145,828
902,198
149,350
22,279
32,888
37,132
1,624,000
2,000,000
16,800
356,144
1,592,990 1,513,309
223,634
5,131,807
EOTC ANNUAL SURPLUS/(DEFICIT)
EOTC CUMULATIVE SURPLUS/(DEFICIT)
532,324
532,324
1,229,403
1,761,727
1,366,733
3,128,460
234,453
21,000
136,000
234,453
21,000
145,000
21,630
31,930
(887,807) (1,260,369) 1,795,261 3,275,897
2,240,653 1,868,091 3,663,352 6,939,249
4.5%
3.3%
7.0%
3.0%
5.0%
5.0%
100,000
35,000
100,000
35,000
..;:11~@;;
1,624,000
2,000,000
36,050
Notes:
Actual/projected increase in sales tax revenue
Projected inflation rate
Projected investment eamings rate
1997 current expenditure budget detail:
8) $136,000 is composed of the following items:
16,000
25,000
15,000
50,000
30,000
136,000
2.9%
2.5%
financial admin. and insurance
meeting support and facilitation
financial consultant
entrance to Aspen design
transportation linkages worKshop
($15,000 reimbursed by Aspen Skiing Company)
15) 56% upvalley share of $30,000: $25,000 1/2-time position plus $5,000 materials & training
5.0%
3.0%
5.0%
5.0%
3.0%
5.0%
136,000 as budgeted above
30,000 match for Regional Transportation Partnerships grant
36,400 rail demonstration project
202,400
1997 forecast detail:
.~8fr~A~Jll~ga_!!tliS!lLi9hte~JI!\QlJYs<,
8) $202,400 is composed of the following:
-.
9) briefing book
12) carryover from 1996
8/6197
HALFCNTXLS