Title
Ordinance No. 20-56 amending ordinance No. 19-87 (2020 Appropriation Ordinance) for a supplemental appropriation to the Public Space and Development Fund in the amount of $3,700,000 to fund the completion of redevelopment construction of Panorama Park
Presenter:
Connie Schmeisser, Landscape Architect II
Britt Haley, Parks Design & Development Manager
Body
Summary:
The Parks, Recreation & Cultural Services Department is seeking approval of a supplemental appropriation of $3,700,000 from Park Land Dedication Ordinance (PLDO) funds to help fund the implementation of the Panorama Park Master Plan.
Background:
The final Panorama Park Master Plan was adopted by the Parks, Recreation and Cultural Services Advisory Board at its July 2019 meeting. At that meeting, staff indicated the level of implementation of the elements identified in that master plan would be dependent on the final available funding. At that time, staff identified the following potential funding avenues, including but not limited to: our awarded Great Outdoors Colorado grant; 2019 Trails, Open Space and Parks (TOPS) funding; 2019 parkland dedication funds; future parkland dedication funds; charitable contributions; and possible partnership contributions. This presentation focuses on the PLDO contribution to bring this project to fruition. At this time, staff has worked with The Trust for Public Land (TPL) to pursue and secure as many funding opportunities as possible to meet the identified cost estimates for the park renovation and revitalization.
The following chart details the construction funding identified to date:
60% Opinion of Probable Cost
$ 7,335,619
GOCO - Awarded
$ 350,000
TOPS - Budgeted
$ 481,118
PLDO - Budgeted
$ 300,000
TABOR Retention
$ 500,000
Private Charitable Contributions
$ 410,000
City Confirmed Funding
$ 2,041,118
Trust of Public Land (TPL) Charitable Contributions
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