An Ordinance of the City Council of Homer, Alaska, Amending the FY 2012 Capital Budget by Appropriating $212,270 from the Homer Accelerated Roads and Trails Fund (HART) to Re-Pave Fish Dock Road and Construct Improvements to Outer Dock Road and Appropriating $100,000 from the General Fund Reserves / Fund Balance for a Reimbursable Economic Development Grant to Fund the Homer Tidal Power Incubator Project. Mayor.
CITY OF HOMER
AN ORDINANCE OF THE CITY COUNCIL OF HOMER, ALASKA, AMENDING THE FY 2012 CAPITAL BUDGET BY APPROPRIATING $212,270 FROM THE HOMER ACCELERATED ROADS AND TRAILS FUND (HART) TO RE-PAVE FISH DOCK ROAD AND CONSTRUCT IMPROVEMENTS TO OUTER DOCK ROAD AND APPROPRIATING $100,000 FROM THE GENERAL FUND RESERVES / FUND BALANCE FOR A REIMBURSIBLE ECONOMIC DEVELOPMENT GRANT TO FUND THE HOMER TIDAL POWER INCUBATOR PROJECT.
WHEREAS, Sustaining and promoting economic development are vital to the long-term success of any community; and
WHEREAS, Receiving financial assistance through State and Federal grant funds is becoming increasingly difficult; and
WHEREAS, The City of Homer has identified port and harbor activities as a substantial contributor to the economic viability of our community; and
WHEREAS, The City of Homer has also identified, through the Climate Action Plan, a desire to support the reduction of greenhouse gas emissions in a variety of ways including the use of tidal energy; and
WHEREAS, More research is required in the area of viable tidal energy in order to obtain this objective; and
WHEREAS, There are a variety of low-cost projects recommended for inclusion in the 2013 – 2018 Capital Improvement Plan (CIP) which will meet both the objective of tidal power and support of the port and harbor industry in Homer; and
WHEREAS, The City of Homer has designated income to the Homer Accelerated Roads and Trails (HART) Fund through the collection of sales taxes for the purpose of road improvements; and
WHEREAS, Both the re-pavement of the Fish Dock Road and the upgrade to the Outer Fish Dock Road are proposed for inclusion in the CIP but also qualify for funding through the HART Fund; and
WHEREAS, The collective cost of these two projects is estimated to be $212,270, which is an amount easily covered through the HART Fund; and
WHEREAS, The Homer City Council recognizes the need to invest in the future economy of the community and that there is potential for the proposed Homer Tidal Incubator Project to generate local jobs in addition to providing for a needed research location; and
WHEREAS, The City of Homer providing funding for the Homer Tidal Incubator Project through a reimbursable economic development grant, increases the probability of the investment actually stimulating our local economy; and
WHEREAS, The success of the project will be dependent on qualified leadership such as a university; and
WHEREAS,The economic benefits will be dependent on local employment, a further requirement will be that the research being conducted provides local employment opportunities.
NOW, THEREFORE, BE IT ORDAINED by the City of Homer:
Section 1. The Homer City Council hereby amends the FY 2012 Capital Budget by appropriating $212,270 from the HART Fund for the purpose of funding the re-pavement of Fish Dock Road and upgrades to Outer Dock Road as provided for and described in the CIP documents which are attached and incorporated herein as follows:
Account No. Description Amount
60-375 Pave Fish Dock Road / $212,270
Upgrade Outer Dock Road
Section 2. The Homer City Council hereby amends the FY 2012 Capital Budget by appropriating $100,000 from the General Fund Reserves / Fund Balance for the purpose of providing $100,000 in the form of a reimbursable economic development grant to fund the Homer Tidal Incubator Project as described in the CIP documents which are attached and incorporated herein as follows:
Account No. Description Amount
100-100 Incubator Project $100,000
Section 3. The City Manager is authorized to draft the documents and take the steps necessary to initiate the Homer Tidal Incubator Reimbursable Grant Program. The rules governing the Reimbursable Grant Program will be approved by resolution.
Section 4. This ordinance is a budget amendment ordinance only, is not of a permanent nature, and shall not be codified.
ENACTED BY THE HOMER CITY COUNCIL this 26th day of November, 2012.
CITY OF HOMER
MARY E. WYTHE, MAYOR
JO JOHNSON, CMC, CITY CLERK
Reviewed and approved as to form:
Walt E. Wrede, City Manager Thomas Klinkner, City Attorney
Date: ______________________ Date: ______________________