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CITY of RAPID CITY Agenda Item Summary |
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Meeting Date: 01/05/2015 |
Commission, Board or Committee: |
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Staff Contact: Pauline Sumption |
PW Committee or L&F Committee: |
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Petitioner: N/A |
City Council 1st Reading: 01/05/2015 |
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Location: |
City Council 2nd Reading: |
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Agenda Title: |
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Presentation of the Municipal Referendum Petitions regarding Resolution 2014-118 Authorizing the Issuance of Sales Tax Obligations for the Rushmore Plaza Civic Center in an amount not to exceed $180,000,000.00 in Construction Costs and Further Authorizing Certain Officers of the City to Approve, Execute and Deliver Agreements and Documents Relating to the Obligations. Passed by the Rapid City Common Council on the 1st day of December, 2014 AND Set Special Election for March 10, 2015 for the Referral of Resolution 2014-118 |
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Summary: |
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The Finance Office has received a total of 164 petitions with 3,241 valid signatures (2,418 of which had their voter registration spot checked). 2,062 signatures were needed and therefore this resolution has effectively been referred to the voters of the City of Rapid City. The agreement with Pennington County requires a 60-day notice for them to run a special election and the election is required to be held on a Tuesday, making March 10, 2015 the first possible date for an election. Also according to the agreement, the latest we could hold a special election would be March 31, 2015. If it is not held within this timeframe, the City would need to wait until the annual Municipal Election on June 2, 2015. |
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Funding Source & Fiscal Impact (if applicable): |
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Estimated at $45k - $60k, a supplemental appropriation would be needed to cover this expense, to be funded out of Council Contingency. Because a complete set of plans cannot be drawn up without funding and with construction inflation estimated at 4% to 8 % (per the consultant, $600k/month to $1.2 million/month), it would be in the project’s best interest to move forward with a special election and not wait until June, as then the City would more than likely miss out on the 2015 construction season. |
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Recommendation: |
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Action: Acknowledge the presentation of the petitions and approve the Special Election date of March 10, 2015 Notes: |
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Options: |
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