Agenda Memo

City of Boulder City Council Agenda Item Meeting Date: December 4, 2025 Agenda Title Consideration of a motion to adjourn as the Boulder City Council and convene as the Boulder Municipal Property Authority Board of Directors; and Consideration of a motion to adopt Resolution 165 appropriating money to defray the expenses and liabilities of the Boulder Municipal Property Authority for the 2025 fiscal year beginning January 1, 2025; and setting forth related details; and Consideration of a motion to adjourn as the Boulder Municipal Property Authority Board of Directors and reconvene as the Boulder City Council

Staff Contact • •

Charlotte Huskey, Budget Officer, Finance Krista Morrison, Chief Financial Officer, Finance

Draft Motion Language Staff requests council consideration of this matter and action in the form of the following motions: Motion to adjourn as the Boulder City Council and convene as the Boulder Municipal Property Authority Board of Directors; and

Motion to adopt Resolution 165 appropriating money to defray the expenses and liabilities of the Boulder Municipal Property Authority for the 2025 fiscal year beginning January 1, 2025; and setting forth related details; and Motion to adjourn as the Boulder Municipal Property Authority Board of Directors and convene as the Boulder City Council

Executive Summary The Boulder Municipal Property Authority (BMPA) was formed as a Colorado nonprofit corporation in February of 1988. BMPA was formed for the purpose of acquiring real and personal property and leasing, selling, or otherwise conveying the same to the city. BMPA is governed by a nine-member board of directors, which consists of the members of the City Council. BMPA’s officers include a President and Vice President, which, pursuant to its Bylaws, shall be the Mayor and Mayor Pro Tem, respectively, of the city and a Secretary-Treasurer, which shall be the Chief Financial Officer of the city. BMPA has no assets other than assets acquired from the issuance of debt securities, which are pledged to the repayment of such securities. In March 2025, BMPA was authorized through Resolution 161, see Attachment B, for the $100M issuance of certificates of participation for the Western City Campus development, and through Resolution 162 (Attachment C), the appropriation for an additional $6.2M to support the debt service expenses for the 2025 fiscal year. This item will appropriate $100M to the BMPA Fund to enable the correct transfer and flow of funds from the BMPA Fund to the Governmental Capital Fund, where the project expenses are occurring. BMPA serves as a debt service fund only, therefore the proceeds from the COP sale must transfer into the Governmental Capital Fund to support project expenditures. Additionally, included in this item is an increase in appropriation, drawing from BMPA fund balance, to support the payment of 2014 and 2015 real estate property taxes to the Boulder County Treasurer for the Alpine-Balsam properties. This payment is required to support the closing of certificates of participation for the Western City Campus project. As such, proposed Resolution 165 (Attachment A) is provided for the Board’s consideration of this supplemental appropriation to BMPA’s 2025 budget.

Council Action, Options Option

Outcome

Approve motion language as drafted

If the motion is approved, supplemental appropriations will be made to the BMPA 2025 budget supported by fund balance.

Define and adopt a modified motion

The Board would need to define any modifications or amendments to the draft motion language. This will likely require staff to bring back an amended version with changes to the recommended supplemental appropriations.

Deny the motion or take no action

If this motion is denied, the city will be unable to provide certain services.

Refer back to staff

If the Board refers this item back to staff, the Adjustment to Base process will be pushed back to late December.

Alignment with City Plans and City Council History Sustainability, Equity, and Resilience (SER) Framework and Citywide Strategic Plan Alignment SER Framework Goal Area Not applicable - BMPA is a separate legal entity from the City of Boulder and has not adopted the SER Framework. Citywide Strategic Plan Not applicable - BMPA is a separate legal entity from the City of Boulder and has not adopted the SER Framework. Staff Notes No additional staff notes.

Alignment with Additional City Plans Not applicable at this time – BMPA is a separate legal entity from the City of Boulder and has not adopted any additional city plans.

City Council History Per standard practice, City Council reviews planned Adjustments to Base (ATB) twice a year, with additional ATBs brought forward as required. In March 2025, council, acting as the BMPA Board of Directors, approved Resolution 161 and 162 which authorized and appropriated $6.2M from Certificates of Participation for the construction of the Western City Campus.

Analysis This is a standard administrative item, no analysis needed at this time.

Equity Analysis This is a standard administrative item, no analysis needed at this time.

Fiscal Note Estimated Fiscal Impact Narrative The transfer of the BMPA Certificate of Participation for the Western City Campus to the Governmental Capital Development Fund is a planned expense and appropriate fundto-fund transfer to recognize the revenues into the BMPA Fund and expend the project expenses out of the Governmental Capital Fund. The fiscal note below captures the estimated impact to the BMPA Fund with the passing of this resolution. Current Year Estimated Fiscal Impact Fund(s): Boulder Municipal Property Authority Fund Department(s): Finance Department Program(s): General Government

FY 2025 Budget

FY 2025 Estimated Impact

FY 2025 Net Change

Beginning Fund Balance

$445,724

N/A

$445,724

Total Forecasted Revenue

$10,837,882

$100,000,000

$110,837,882

Total Estimated Expenses

$10,829,992

$100,183,020

$111,013,012

Ending Fund Balance(s) After Reserves

$453,614

N/A

$270,594

Item

FTE

N/A

N/A

N/A

Climate, Resilience, and Sustainability Considerations Not applicable – this is an administrative budgetary standard work item.

Community Engagement Not applicable – this is an administrative budgetary standard work item.

Workplan Considerations Adoption of the resolution is incorporated into the work of BMPA’s annual budget process and would not require additional workplan considerations at this time.

Next Steps for City Council Not applicable.

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Attachments A – Proposed Resolution 165 B – Resolution 161 C – Resolution 162