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Town Council Resolution 18 2010TOWN OF SNOWMASS VILLAGE RESOLUTION NO. 18 SERIES OF 2010 A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF SNOWMASS VILLAGE, COLORADO, APPROVING A REVISED 2010 EOTC BUDGET FOR THE PITKIN COUNTY 1/2 CENT TRANSIT SALES AND USE TAX WHEREAS, the Town Council of Snowmass Village, the Aspen City Council and the Pitkin County Board of County Commissioners (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 March 18, 2010, the Parties considered the following supplemental budget requests for the year 2010 for the Pitkin County one-half cent transit sales and use tax: a. Increase sales tax revenue by $174,000 to $3,523,000; b. Increase use tax revenue by $245,000 to $934,000, c. Increase RFTA's 81.04% share of the sales tax revenue by $141,009 to $2,855,039; d. Increase the no -fare Aspen-Snowmass bus service subsidy by $296,039 to $578,760 in order to extend the service through year-end; and e. Increase the no -fare Woody Creek bus service subsidy by $1,420 to $4,030 in order to extend the service through year-end WHEREAS, the Town of Snowmass Village Town Council desires to approve the supplemental budget requests by adoption of this resolution; and, NOW THEREFORE BE IT RESOLVED by the Town Council of the Town of Snowmass Village, Colorado, that the attached revised 2010 budget for the one-half cent transit sales and use tax is hereby approved as summarized below: Total 2010 Revenues $4,558,800 Total 2010 Expenditures $4,081,090 10-18tc Reso Page 2 of 2 READ, APPROVED, AND ADOPTED by the Town Council of the Town of Snowmass Village, Colorado on the 5th of April, 2010 upon a motion made by Council Member Lewis, the second of Council Member Butler, and upon a vote of 3 in favor and 0 opposed. Mayor Boineau and Council Member Mordkin were absent. TOWN OF SNOWMASS VILLAGE JC nson, Mayor Pro Tem APPROVED AS TO FORM John Dresser, Town Attorney 1�n I z �'n Z,-"/ Rhonda Coxon, Town Clerk I * EOTC Transit Project Funding a) Pitkin County 1/2% sales tax b) Pitkin County 1/2% use tax 91 Investment income & misc. 1) Use tax collection costs 2) Administrative cost allocation 3) Bus stop safety imprvs / cab ride in -lieu 4) X -Games transit subsidy 5) Brush Creek parking expansion 6) Brush Creek parking expansion - annual operating costs 7) Snowmass Village transit improvements ($6.5 million total) 8) RFTA contribution (81.04% of 1/2% sales tax) 9). Buttermilk to Roundabout bus lanes, construction 10) No -fare Aspen-Snowmass bus service (11/23/08-4/12/09) 11) No -fare Aspen-Snowmass bus service (4/13/09-6/14/09) 12) No -fare Aspen-Snowmass bus service (6/15/09-9/30/09) 13) No -fare Aspen-Snowmass bus service (10/1/09-4/15/2013) 14) No -fare Aspen-Snowmass bus service study 15) No -fare Woody Creek busservicewinter & summer to 4/15 1,900 3,576,000 3,630,000 7,804 3,739,000 Actual/ Revised Plan Plan Plan Plan 2,855,039) Budget 2,731,996 2,855,039 6,430,165 2,897,990 2,941,752 2,985,514 3,030,086 2009 2010 2011 2012 2013 2014 909,873 44,012 980,671 1,015,947 79,365 3,371,170 3,523,000 3,576,000 3 630 000 3,684 000 3,739,000 959,004 934,000 981,000 1,030,000 1,082,000 1,136,000 � '� 101.800 2e2 z3nn d�iri RM can enn -.__ 1,900 3,576,000 3,630,000 7,804 3,739,000 934,000 50,000 1,030,000 1,082,000 15,070 2,855,039) (2 897 990) 2,731,996 2,855,039 6,430,165 2,897,990 2,941,752 2,985,514 3,030,086 538,779 ;=396020' 1,409,221 carryover from '09 186,748 1,578,575 909,873 44,012 980,671 1,015,947 79,365 118,843 578,760 601,910 625,987 248,625 17,617 3 ^^, 4,030 4,191 4,359 2,936 Lb)) sales tax -16.4% 4.5% 1.5% 1.5% 1.5% 1.5% use tax -2.6% 5.0% °) .investment earnings rate 5.0 /0 5.0% 5 0%I 1.0% 2.5% 4.0% 5.0% S nog tkin County 1/2% sales tax tkin County 1/2% use tax less committed funding less RFTA contribution (81.04% of 1/2% sales tax) >t revenue to be allocated Annual 2/3's allocation to Entrance -to -Aspen plus use of designated fund balance (budget carry-overs/Snowmass transit imprvs) less Annual 2/3's allocation to Entrance-to-Asnen 3/26/2010 3,523,000 3,576,000 3,630,000 3,684,000 3,739,000 934,000 981,000 1,030,000 1,082,000 1,136,000 2,855,039) (2 897 990) (2 941 752) (2 985 514) (3 030 086 1,364,810 1,409,221 1,471,007 1,523,920 1,578,575 909,873 939,481 980,671 1,015,947 1,052,383 0 04-05-2010 10-18 EOTC Revised Budget