From Judy Gilleland - City Manager
City Council passed an ordinance at the end of 2009 authorizing a contract with Start Skydiving to improve one of the airport hangars for their use. The contract authorized up to $350,000 toward this project. The contract called for the money to be repaid over time from Start Skydiving lease payment.
Given that Council’s instructions were to accomplish this project, we hired Greg Pratt (filling in for various development projects since the departure of Mike Robinette) to work with Start Skydiving to define the scope of the improvements to the hangar. They have reached agreement on this project and are ready to proceed with the appropriation legislation. Start Skydiving would like to begin work as soon as possible to accomplish as much construction as possible before winter sets in.
We need two decisions from City Council:
an appropriation passed by City Council to spend the funds. Normally, if pushed for time, we would have a first reading on the 18thof October and then the second reading, passed by emergency on November 1. Start Skydiving has requested that Council consider passing this as an emergency on the 18th of October thereby adding 2 weeks to their construction season. The legislation will be prepared as an emergency, Council may either have the first reading on the 18th or pass it on the 18th.
From which fund do we want to borrow the money? Again, the contract calls for repayment of the funds through Start Skydiving lease payments over the next 5+ years. Staff’s recommendation is to use the Downtown Fund. We could also borrow from the General Fund or issue a note. We will proceed with the Downtown Fund unless I hear otherwise before Friday.