City Council Minutes 2020 10 20 - Laserfiche WebLink

Home Browse Search

City Council Meeting Minutes October 20, 2020 Page 7 of 9 Mayor Stolzmann closed the public hearing. The budget is scheduled to come back to Council for final approval on November 17. Members cancelled the previously scheduled budget meeting on October 27. RESOLUTION NO. 83, SERIES 2020 — A RESOLUTION A RESOLUTION APPROVING AN ALLOTMENT CONTRACT BETWEEN THE WINDY GAP FIRMING PROJECT WATER ACTIVITY ENTERPRISE, MUNICIPAL SUBDISTRICT, NORTHERN COLORADO WATER CONSERVANCY DISTRICT, AND THE CITY OF LOUISVILLE, A COLORADO HOME RULE MUNICIPAL CORPORATION, ACTING BY AND THROUGH THE CITY OF LOUISVILLE WATER ACTIVITY ENTERPRISE, FOR CAPACITY IN THE WINDY GAP FIRMING PROJECT Mayor Stolzmann introduced the item. Director Kowar stated staff is recommending approval of the allotment contract to pay for the City's allotment of the Windy Gap Firming Project. He reviewed the City's water portfolio and the history of the project The formal federal permitting process began in 2003 with the final permits issued in 2016 and 2017. The City's pro rata share of the construction costs is currently estimated at $18,459,000 to be financed by group issued bonds administered by Northern Water for the ten - member group. The Utility Committee has reviewed this and recommends approval tonight but staff will continue to see if there are other options. There is an exit clause that would allow the City about three months to opt out of the group financing if a better option is identified. Staff recommends approval of the resolution. Councilmember Lipton stated the Utility Committee reviewed this and feels this resolution is the best way to keep us in the discussions while still allowing us to look for alternatives. Mayor Stolzmann asked for confirmation the City can choose a payment option other than the group financing if it chooses to. Peter Johnson, Vranesh and Raisch, stated this contract does allow for that. Public Comments — None. Mayor Pro Tern Maloney moved to approve the resolution; seconded by Councilmember Leh. Roll call vote: approved by unanimous roll call vote.