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MEETING

MAY 20, 2010

AGENDA

Date:

May 13, 2010

To:

Commissioners of the Urban Renewal Authority

From:

Clay Benson, Chair

Subject:

Special Meeting May 20, 11:00 a.m.

City Hall – Pikes Peak Room

107 N. Nevada Ave, Second Floor

Colorado Springs, CO

Agenda:

1.

Approval of April 6th CSURA meeting minutes

2.

Approval of Financial Report as of April 30, 2010

3.

2009 Audit Report SummaryCarrie Bartow

4.

Election of Officers

5.

Sunshine Law – Public Meeting Posting Location

6.

Copper Ridge – City Council Decision

7.

Southwest Downtown Strategy – Chuck Miller

8.

Other Matters

9.

Adjournment

MINUTES

On the 20th day of May, 2010 at 11:00 a.m., the Commissioners of the Urban Renewal Authority of the City of Colorado Springs met in Regular session at 107 N. Nevada Avenue, at City Hall in the Pikes Peak Conference Room, Colorado Springs, Colorado.

In attendance were:

COMMISSIONERS:

Michael Collins

Dottie Harman

Scott Hente

Jim Kin

Judy Noyes

John Olson

Rosemarie Venezia

Susan Wood-Ellis

ABSENT:

Clay Benson

Also in attendance:

Bob Cope

Business Development

Bob Louden

Property Owner

Carrie Bartow

Clifton Gunderson CPA

Dan Hughes

CSURA Legal Counsel

Mar-K. Burnett

CSURA Staff

Chuck Miller

CSURA Staff

Jim Rees

CSURA Staff

Vice -Chairman Collins called the meeting to order at 11:04 a.m. and thanked Authority members and visitors for attending the special meeting.

Item #1 – Approval of Minutes

Motion was made by Commissioner Harman, seconded by Commissioner Venezia, that the Minutes of the Special meeting, held on April 6, 2010, be adopted as presented. The motion was carried unanimously.

Item #2 – Approval of Financial Report

Commissioners reviewed the financial report in detail. Following discussion and review, Commissioner Hente presented:

RESOLUTION NO. 1697

A RESOLUTION APPROVING THE FINANCIAL STATEMENT AND EXPENDITURES OF THE CSURA FOR THE PERIOD ENDING APRIL 30, 2010

BE IT RESOLVED BY THE COMMISSIONERS OF THE URBAN RENEWAL AUTHORITY OF THE CITY OF COLORADO SPRINGS, COLORADO, THAT:

The financial statement and expenditures of the Colorado Springs Urban Renewal Authority for the period ending April 30th are hereby approved.

Motion was made by Commissioner Hente, seconded by Commissioner Harman, that Resolution #1697 be adopted.

Upon a Call for the Vote, the following Commissioners voted:

AYES:

Michael Collins

Dottie Harman

Scott Hente

Judy Noyes

John Olson

Rosemarie Venezia

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #3 – 2009 Audit Report Summary – Carrie Bartow

Ms. Carrie Bartow, Clifton-Gunderson CPA, reviewed the 2009 Audit for the Colorado Springs Urban Renewal Authority. She pointed out the major findings and summarized the 32-page report completed by the firm of BiggsKofford, CPA Business Specialists.

Authority member Scott Hente reported that he will deliver a copy of the audit to the City Auditors office for review as he had done in the past several years.

Commissioner Jim Kin arrives at 11:14 a.m.

There being no further discussion Commissioner Hente presented:

RESOLUTION NO. 1698

THE COLORADO SPRINGS URBAN RENEWAL AUTHORITY RECOMMENDS APPROVAL AND ACCEPTANCE OF THE 2009 CSURA AUDIT REPORT BY BIGGSKOFFORD AS PRESENTED BY CLIFTON GUNDERSON

BE IT RESOLVED BY THE COMMISSIONERS OF THE URBAN RENEWAL AUTHORITY OF THE CITY OF COLORADO SPRINGS, THAT:

Recommendation is made by CSURA that the 2009 audit report be approved and accepted.

Motion was made by Commissioner Hente, seconded by Commissioner Noyes, that Resolution # 1698 be adopted.

Upon a Call for the Vote, the following Commissioners voted::

AYES:

Michael Collins

Dottie Harman

Scott Hente

Jim Kin

Judy Noyes

John Olson

Rosemarie Venezia

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Commissioner Wood-Ellis arrives at 11:17 a.m.

Item # 4 Election of Officers

Vice-Chairperson Collins opened the meeting to nominations for the position of Chair. Commissioner Kin nominated current vice-chair Michael Collins to the position of Chairperson. Commissioner Collins graciously accepted the nomination. Commissioner Noyes seconded the nomination.

Upon a Call for the Vote, the following Commissioners voted:

AYES:

Dottie Harman

Scott Hente

Jim Kin

Judy Noyes

John Olson

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

Newly elected Chairperson Michael Collins then opened the meeting up to nominations for the Vice-Chair position. Commissioner Noyes nominated Commissioner John Olson. Commissioner Olson accepted the nomination. Commissioner Hente seconded the nomination.

Upon a Call for the Vote, the following Commissioners voted:

AYES:

Michael Collins

Dottie Harman

Scott Hente

Jim Kin

Judy Noyes

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The nomination carried unanimously.

Item #5 – Sunshine Law – Public Meeting Posting Location

Per the CSURA By-laws it has been established that regularly scheduled meetings would take place on the third Thursday of each month and would be posted on the bulletin board outside the City Clerk’s office in the City Administration Building, per the Sunshine Law. Commissioner Harman made the motion to set the meeting dates and posting location, it was seconded by Commissioner Noyes. There being no further discussion a vote was called and the motion carried unanimously.

Item #6 – Copper Ridge – City Council Decision

Jim Rees, CSURA staff, reported that the Copper Ridge Urban Renewal Plan was adopted unanimously by City Council on May 25th. He explained the responsibilities of the Authority for this project. The metropolitan district for the project area will issue the bonds for the extension of Powers Boulevard. There are some sales tax sharing agreements in place with the County and other taxing entities within the project area. It is expected that the same certifications as are required in Gold Hill Mesa will be in place for the Copper Ridge project as well. The redevelopment agreement will outline the administrative fees such as $50,000 upon the completion and signing of the document and $50,000 from the tax increment financing on an annual basis. Due to the fact that CSURA is not responsible for the bonds staff is recommending not collecting a percent of the bond issuance as was done on the North Nevada project.

Commissioner Wood-Ellis commented that staff time is already involved in the project. She felt there should be an agreement for costs incurred by CSURA in place prior to waiting on the reimbursement from the tax increment. It was agreed that a paragraph for “reimbursable expenses” be written into the Copper Ridge documents to include at a minimum staff and legal expenses.

Item #7 – Southwest Downtown Strategy

Jim Rees summarized the background of the Southwest Downtown UR project beginning with the approval of the urban renewal plan to the present; including the recent decision by City Council to vote down a resolution deeding lot #4 to CSURA for $1. He further shared that there is still some movement to restructure an exchange of properties between the City and Colorado Springs Utilities with a favorable outcome for CSURA concerning lot #4. Mr. Rees suggested that CSURA move forward with putting together a plan for the long standing project area. Mr. Miller asked Authority members if they wanted to go forth with putting together a new project for SW or would they prefer to ask City Council for control of the property where a parking structure and hotel are proposed.

Authority members Hente and Wood-Ellis asked that at the next CSURA meeting that details be provided concerning the status, ownership and/or lease agreements of each site involved.

Commissioner Kin suggested that an agreement be in place between CSURA and the City that states that if a project or interest from a developer occurs there will be agreement that the land will be turned over to CSURA for project development. Chuck Miller stated that his preference was to offer City Council to pay for the property at an appraised value with long term financing options.

Commissioner Noyes suggested that perhaps a new look at other options for development that would have more community benefit was in order. CSURA staff reiterated that control of the property is key to looking for development options.

There being no further discussion Commissioner Kin presented:

RESOLUTION NO. 1699

A RESOLUTION INSTRUCTING CSURA STAFF TO PROCEED WITH EFFORTS TO ACQUIRE THE LAND FROM THE CITY AND DETERMINE THE CURRENT VALUE AND PUT TOGETHER AN APPROACH FOR DEVELOPMENT OF THE SOUTHWEST DOWNTOWN URBAN RENEWAL AREA

BE IT RESOLVED BY THE COMMISSIONERS OF THE URBAN RENEWAL AUTHORITY OF THE CITY OF COLORADO SPRINGS, COLORADO, THAT:

A resolution directing CSURA staff to continue with the acquisition of Lot 2 and 4 from the City, determine land value and develop a plan for redeveloping SW Downtown URA.

Motion was made by Commissioner Kin, seconded by Commissioner Olson, that Resolution #1699 be adopted.

Upon a Call for the Vote, the following Commissioners voted:

AYES:

Michael Collins

Dottie Harman

Scott Hente

Jim Kin

Judy Noyes

Rosemarie Venezia

Susan Wood-Ellis

The following voted:

NAYES:

None

The motion was declared carried and the Resolution adopted.

Item #8 – Other Matters

Jim Rees summarized the project update report in the meeting packets. Commissioner Noyes and Olson commented that the Peak Vista Health Center was a very attractive facility in the Lowell project area.

Commissioner Noyes summarized the Downtown Partnership’s Collaboration breakfast meeting held on May 14th, stating that the major goal was to collectively represent the major players on matters of importance with one voice. Authority member Harman suggested that newly elected vice chair John Olson represent CSURA on the Advocacy Taskforce as she was not feeling comfortable with some of the current political aspirations of the taskforce. Chuck Miller suggested that she attend the next meeting with him and together they would ask some questions clarifying the goals and objectives and reiterate the role of CSURA in the taskforce.

Commissioner Kin asked that the Streetcar taskforce be invited to the June or July CSURA meeting to make a presentation. It was noted that a presentation had been scheduled for the June meeting.

Commissioner Olson suggested that CSURA develop a website as it is difficult to find pertinent information on the Springsgov.com website. It was agreed that staff would look into getting a cost estimate for developing a stand-alone website for the Colorado Springs Urban Renewal Authority.

Item #9 – Adjournment

There being no further business to come before the Commissioners, motion was made by Commissioner Harman, seconded by Commissioner Venezia, to adjourn the meeting. Upon unanimous vote, the meeting was declared adjourned at 12:45 p.m.

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