HomeMy WebLinkAbout~Master - Allocation for City's share of operating deficit for Intermoal Facility RESOLUTION NO. 13-435
RESOLUTION APPROVING ALLOCATION FOR CITY'S SHARE OF OPERATING
DEFICIT FOR INTERMODAL FACILITY
FOR THE CITY OF AMES, IOWA
WHEREAS, in February 2011, the City entered into a three-party agreement with Iowa
State University and the Ames Transit Agency Board of Trustees regarding operations of the new
Intermodal Facility; and,
WHEREAS,among other provisions,this agreement specifies that:.. "should the revenues
in the fund not cover the operations and capital improvement expenditures,the University and City
of Ames will each provide equal supplemental operational support in the form of subsidies as
necessary to maintain a positive balance;" and,
WHEREAS, as the first full year of operations for the Intermodal Facility came to an end
on June 30, 2012,the University(which manages the facility)has supplied the City with a budget
summary, and this report indicates that expenditures for the facility exceeded revenues by
$27,973.37; and,
WHEREAS, in accordance with the operations agreement, the City owes the University
one-half of this subsidy, or $13,986.69, for the first year of its operation.
NOW,THEREFORE,BE IT RESOLVED,by the City Council of the City of Ames,Iowa,
that funding of its share of the Intermodal Facility's operating deficit for FY 2012/13 from the
Council's Contingency Fund in the amount of$13,986.69 is hereby approved.
ADOPTED THIS IOth day of September, 2013.
/f-/ I -Y -
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Davis
Seconded by: Goodman
Voting aye: Davis, Goodman, Orazem, Szopinski
Voting nay: None Absent: Larson, Wacha
Resolution declared adopted and signed by the Mayor this 10'day of September, 2013.