HomeMy WebLinkAboutresolution.council.073-18 RESOLUTION #73
(Series of 2018)
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#11, 1998, granting a franchise to
' Holy Cross Energy, and approved Ordinance#44, 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 I% 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
at the Aspen Recreation Center(ARC) and one special community project, New Year's Eve
Celebration 1, and
WHEREAS, further past uses of the Community Enhancement Fund include continued support
of the New Year's Eve celebration and an additional community special event, the Pro. Cycling
Challenge 2, and
WHEREAS,the City has experienced additional qualifying costs over the four-year period 2014-
.2017 equal to $496,135 associated with the annual New Year's Eve celebration and Pro. Cycling
Challenge, plus energy conservation efforts including a LED lighting upgrade within recreation
facilities,
NOW, THEREFOR, 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 $348,104 of said funds as described in the following
table in the General Fund for 2018.
'2007 through 2010 uses totaling$575,939 -Resolution#30 (2011)
'2011 through 2013 uses totaling$330,409—Resolution#30 (2014)
Resolution#73(2018)
2014 2015 2016 2017 4-Yr Total
Energy Conservation
Recreation LED Lighting $0 $0 $75,000 1 $0 $75,000
Special Community Events
New Year's Eve $39,460 $46,790 $51,810 $56,220 $194,280
Pro Cycling Challenge $112,812 $114,043 $0 $0 5
Total Qualifying Expenses $152,272 $160,833 $126,810 $56,2201- $496,135
Annual Revenues from
Community Enhancement Funds 1 $87,587 1 $87,300 $86,284 1 $86,934 348 1
INTRODUCED, READ AND ADOPTED by the City Council of the City of Aspen on the 30th
day of April 2018.
Steven Sk dron, Ma r
I, Linda Manning, duly appointed and acting City Clerk do certify that the foregoing 's a true and
accurate copy of that resolution adopted by the City Council of the City of Aspen, Co rado, at a
meeting held on the 30th day of April 2018.
l
Linda Manning, City C erk .