BOARD OF COUNTY COMMISSIONERS
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This request is to consider a Resolution authorizing the consolidation of Lots 142 and 143 Colorado’s Timber Ridge Phase Three, to become Lot 143X owned by John Dee and Rhonda F. Sledge. This consolidation has been reviewed and is recommended for approval by the Development Services Director. The impact to the County budget includes fees paid per the County Fee Schedule, generally balanced by reduction in property taxes.
This resolution releases the entire amount of the Strategic Reserve into the General Fund, as “unassigned fund balance”, where it will be available for any 2021 budget purposes approved later by the Board of County Commissioners. The resolution insures that at least $4,000,000 is released into unassigned fund balance, by permitting the release of a portion of the Working Capital Reserve as well. Both the Strategic and Working Capital reserves are subsets of the Committed Fund Balance Reserve established by Resolution 2014-55.
The purpose of the release is to provide funds sufficient in amount to finance the construction of a Justice System Court Facility.
This resolution commits the County to provide a minimum of $4,000,000 from the General Fund to the Justice System Capital Fund, in support of the construction of a new court facility. It also insures that the County budgets a minimum of $5,900,000 in capital expense in the Justice System Capital Fund, so that the project can be completed. The difference between the $4,000,000 in funding provided by the County and the $5,900,000 expense budget is covered by an existing Underfunded Courts Commission grant of $1,900,000.
Also, it anticipates possible expansion of the project budget, depending on the procurement of additional grant funding.